Principles of Banking I Com Part 2 MCQS
A commercial bank keeps less cash reserve if:
Rediscounting facility is available
Cheque is used in most of the transactions
Cheque house facilty is available
All of them
If a bank is unable to submit prospectus at the time of registration, then it has to submit:
Statement in lieu of prospectus
Certificate of commencement
Certificate of incorpoartion
None of the above
Person who recieves the amount of cheque from bank is called:
Drawee
Endorsee
Payee
All of the above
A form of written agreement between bank and customer is
Application form for opening account
Pass book
None of the above
Cheque book
Who is called a drawee of cheque
Bank
Customer
Endorsee
Payee
What type of account is preferred by a businessman
Fixed deposits
Saving account
Foreign currency account
Current account
Why commercial banks keep a certain amount of money as reserve
Meeting the requirements of central bank
Acquiring the satisfaction of having cash
Meeting the requirements of customers
Expanding the banking business
What is the nature of credit instrument IOU
An autograph
A holograph
A sonograph
A monograph
Saving accounts encourage the habit of saving among
Low income persons
Investors
Business people
All of the above
Bills of exchange is a written order which is always
Conditional
Unconditional
Partially conditional
All of the above
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