Banking Awareness

JKSSB Panchayat Account Assistant · Accountancy & Finance · 13 practice questions with answers and explanations: 5 Easy, 6 Medium, 2 Hard.

Sample questions

Sample Easy question 1

What does 'RTGS' stand for?

  1. Real Time Gross Settlement
  2. Rapid Transfer Government System
  3. Reserve Transaction Gross Settlement
  4. Real Time General Settlement
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Answer: A. RTGS stands for Real Time Gross Settlement, used for large-value fund transfers processed in real time.

Sample Medium question 2

What is a 'demand draft'?

  1. A prepaid negotiable instrument issued by a bank to pay a specified amount
  2. A type of loan
  3. A savings scheme
  4. A credit card
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Answer: A. A demand draft is a prepaid instrument that guarantees payment of a specified sum, commonly used for secure transfers.

Sample Hard question 3

What is the primary purpose of the Cash Reserve Ratio (CRR) set by the RBI?

  1. To ensure banks keep a minimum percentage of deposits as reserves with the RBI
  2. To set the interest rate on loans
  3. To regulate foreign exchange
  4. To issue currency notes
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Answer: A. CRR is the minimum percentage of a bank's deposits that must be kept as reserves with the RBI, used as a monetary policy tool.

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