Quizific | Bank Rate Quiz

‘Not negotiable’ written on a cheque crossing means

The cheque cannot be paid to any one but the payee

The cheque is valid only for payment of the transaction for which it is made out

An honest person receiving a stolen cheque is liable to repay the rightful owner

The cheque must be paid into a bank

The Central Bank is not expected to perform the function of—

Acting as a clearing house

The banker to the government

Accepting deposit from Commercial Banks

Accepting deposits from general public

Increase in bank rates generally is followed by

An increase in market rate of interest

A fall in market rates of interest

A rise only in the deposits rates but not the lending rates

A rise only in the lending rates

The major quantitative monetary tool available with the Central Bank is

Retioning of credit

Regulation of consumer credit

Margin requirements

Reserve ratio requirements

Bank must refuse payment of a cheque where

Cheque is not dated

Where cheque is stale, i.e. date has expired

Payment has been stopped by customer

The cheque is not presented during working hours of Bank

A ‘Stale’ cheque is one that is

Over six months old

Converning an overdue payment

Cancelled by the drawer

Written on an account which is overdrawn

When a cheque is returned by the bank marked ‘Refer to Drawer’ this means the drawer

Has instructed the bank not to pay the cheque

Whishes to be contacted before the cheque is cashe

Has improperly completed the cheque and must correct it before payment

Had insufficient funds in his account to pay the cheque

The current Bank Rate is—

6%

8%

9%

9.5%

It has been made compulsory for Non-Banking Financing Companies to get themselves registered with … before July 8, 1997. RBI

RBI

SEBI

Government of India

None of the above

Value of Money—

Is independent of the price level

Is directly related to the price level

Is inversely related to the price level

None of the above