Page 47 - Banking Finance September 2018

BANK PROMOTION

3] authorised branches 3] For opening NRI accounts introduction is necessary
4] all except rural branches 4] A person can have both non resident as well as
resident account
12. FCNR(B) can be opened
1] USD 2] GPB 19. NRO account can be jointly opened with any resident
3] EURO 4] YEN person. Therefore the funds belonging to joint resident
5] AUD 6) CAD holder can be credited to this account
7] 1 TO 6 1] Yes 2] no
3] yes with the consent of NRI
13. In NRI accounts nomination is 4] None of the above
1] Not to be accepted
2] Can be accepted 20. Balance in RFC accounts can be utilized for remittance
3] Can be accepted with RBI approval
abroad within a period of
4] None of the above
1] 3 years 2] 10 years
3] 6 years 4] no limit
14. FCNR (B) account can be opened as
1] savings and FDRs only
21. The time limit for settlement of claims in respect of
2] FDRs only
3] FDR (RE-INVES PLAN) only deceased depositors and release of payment to survivor/
nominee should be done within a period of not exceeding
4] All the above
(as per BCSBI)
15. In case of NRO accounts, joint accounts may be opened 1] 15 days 2] 30 days
by 3] 45 days 4] 1 year
1] NRIs only
2] NRIs and resident Indians 22. Immediate credit of outstation /local cheques facility is
3] joint accounts are not allowed available to individual depositors of
4] None of the above 1] savings account 2] current account
3] cash credit account 4] overdraft account
16. Persons bringing foreign exchange into India in the form 5] all the above
of foreign currency notes or travellers cheques are
required to declare in the CDF if the value of foreign 23. In terms of sec 144 of NI act ,the mode of sending
exchange brought exceeds: summons can be by
1] USD 20000 1] speed post
2] GPB 10000 2] authorized courier of court
3] USD 12000 3] personal messenger only
4] USD 10000 OR its equivalent 4] 1 &2

17. The term "Authorized Dealer" means 24. If the time taken to realise the outstation cheque is more
1] The branches of a bank which are authorized by RBI than-------- days of normal period,it will be treated as
to transact FOREX business abnormal period(it may vary for individual banks)
2] The banks which are authorized to deal in Foreign 1] 90 days
Exchange by RBI 2] 75 days
3] The branches of a bank which are authorized to open 3] 180 days
NRI accounts 4] to be decided by individual banks
4] none of the above
25. High value clearing to be given credit on ------
1] next day
18. Which of the following statement is incorrect?
1] NRE accounts are to be maintained in INR only and 2] same day
3] third day
the balance is fully repatriable
2] Transfer of balance from N R O account to NRE 4] high nvalue clearing is no more in existence.
account is not permitted Ans on Page 51

BANKING FINANCE | SEPTEMBER | 2018 | 47