SERVICE STANDARDS FOR RETAIL BANKING MCQ
Q.284. Banking codes and standards Board of India (BCSBI) is an independent semi-regulatory orgnisation. It is implemented from 1st July 2007. It is a -
a. Voluntary code of conduct of banks for individuals
b. For compliance of promises made by banks under retail banking to customers
c. Statutory authority for punishing banks
d. Both (a) + (b)
Q.285. BCSBI is a voluntary code such as -
a) Minimum standards of banking practices for banks to follow
b) Maximum standards of banking practices their meaning universally
c) Statutory authority for punishing banks
d) Both (a) + (b)
Q.286. BCSBI is bound to comply the code for -
(a) Corporate customers
(b) Individual customers
(c) Individual and Corporate customers
(d) Not bound
Q.287. BCSBI has been constituted to -
(a) Promote good and fair banking practices under minimum standards
(b) Increase transparency for reasonable expectancy under service
(c) Promote a fair and cordial relationship between Individual customers and bank
(d) All above
Q.288. The code covers the commitment of the bank and applies to all who provide services/products to customers
(a) Branches/Subsidiaries/Agents
(b) Branches/across the counter/Over phone/By post/e-devices/ internet
(c) Both (a) + (b)
(d) All above
Q.289. There are 43 various commitments which are made by banks and coded under BCSBI. Some of the major services over which code applicable are -
(a) Current/Savings/Term/cumulative deposits
(b) Credit card/Debit card/ATM card and loans and overdrafts
(c) Third Party insurance and investment products
(d) Both (a) + (b)
(e) All above
Q.290. Bank's main commitment towards customers-
(a) Making all transactions transparent and justifiable (b) Making available to customers and all about their products and services
(c) Complaints, grievances and feed back (d) Both (a) + (c)
Q.291. Deposit accounts centre opened in the style of -
a. Single/Joint with maximum 3 persons and joint with either or, survivor/former of survivor
b. Individual/Institutional authority under single operation of joint operation
c. Minors/Minors with guardian as Operator minors above 13 years of age independently and minors below 13 years with guardian
d. All above
Q.292 Before opening any deposit account -
(a) Observances of Know your customer guidelines
(b) Observances of Know about your customer guidelines (c)Observances of Know about your new customer guidelines
(d) Observances of Know your corporation guidelines
Q.293. Customer wants to close the operative savings/current account instructions are given by customer in writing to bank, account can be closed maximum upto
a) Immediate
b) Next working day
c) Within 3 working days
d) Within 3 days
Q.294. Sidhant want to transfer his account to another branch at Kolkata, When the account would be operative in Kolkata br.?
(a) Within 2 weeks of request
(b) Within 1 weeks of request
(c) At the least in 3 weeks
(d) Depends on the work load at new branch at Kolkata
Q.295. The saving bank a/c of Shreya Govil at Bank of India Goregaon Mumbai was requested for transfer to hew new place of posting at Karol Bagh, New Delhi on 7.5.2011. The account at new branch could only be opened, due to lethargic attitude of new branch on 29.06.2011. She compliined to bank for this delay and demanded compensation from bank. What the bank cad do?
a. Say sorry for delay
b. Refund any charges received from account holder on account of transfer
c. Pay compensation of t 500 for under delay, minimum
d. No refund of any charges already debited to account holder
Q.296. How much minimum balance is to be maintained in any deposit account, when to be informed or made known to the customer?
e. Inform orally to all depositors
f. Inform in writing to depositors
g. Displayed in the branch
h. Inform in local newspaper
Q.297. Bank wants to amend the minimum balance required indepositaccountswhencanbankchangethisbynoticeperiodof -
i. 30 days in advance
j. Immediate effect
k. 7 days notice
l. Can implement withoutany notice period
Q.298. HDFC Bank Ltd., had givenconcessionon lifetime credit card issued. After 2 years of issue andits validity they want to withdraw this concession. Canthe bank do it?
m. Yes-Can do so
n. Concession can not be withdrawn
o. Yes-Can do it one any changes are made in Service charges schedule
p. No-cannot do it in the interest of customer
Q.299. Shrikant Govil has a term deposit with ICICI Bank Ltd, Provisions of Income Tax Act 1961 as applicable to interest income accruing he wants to Know. Whose responsibility is it?
q. Bank will advise to provisions for exemption from TDS
r. Bank not bound to do, it is customer's own responsibility
s. Bank legally bound as per BCSBI
t. Bank are bound to point such rules on the receipt of term of deposits.
Q.300. What do you mean by No Frill Account" or Basic Banking Account? Define its features?
u. Very low or nil minimum balance/maximum balance is stated
v. Only for illiterate and poor customers
w. Cannot comply with KYC Norms fully but introduced by bank's customer
x. Both (a) + (c)
Q.301. Dormant or in operative accounts mean -
(a) 2 years ormoreperiod duringwhichno continuousoperationexpectcreditof half yearly interest on savings account
(b) 3 years or more period and thereof as in (a)
(c) 2 years or more period during which credit of term deposits quarterly interest in operative savings/current account is made
(d) 10 years or more period, and the rest as in (a)
Q.302. What is the regulation in BCSBI, as to the information to customers about the notice period, before
classification of accounts as dormant or inoperative a/c.
y. 30 days
z. 90 days aa. 3 months
bb. No notice period
Q.303. Is any bank authorised under BCSBI to close any customer's account of its own?
cc. Not authorised
dd. Improper conduct of account but with 30 days notice ee. Improper conduct of account but without any notice
ff. Customer's account can only be closed by customer only
Q.304. If any amount under ATM Card transaction is wrongly
debited to customer account without any delivery of cash, then upto what maximum period bank is bound (of which the ATM card belongs) to reimburse the amount?
gg. 3 working days hh. 7 working days
ii. 12 working days
jj. Immediate on receipt of compliant
Q.305. If there is any delay or failure in executing the direct debits ECS/standing instructions resulting in financial loss on additional cost then -
kk. Bank will compensate
ll. Will not compensately if small loss suffered
mm. Will not compensate even through customer has suffered any loss nn. Both (b) + (c)
Q.306. What is default in retail loans?
oo. Occurrence of an event which happens due to non payment of agreed installments pp. Non adherence to repayment schedule as per commitments of agreed installments qq. Both (a) + (b)
rr. Customers not willing to pay the loan
Q.307. Rescheduling of the loan happens -
ss. Increase in EMI
tt. Earlier fixed EMI under extended period uu. It happens in long term loans only
vv. All above
Q.308. A default is called genuine default when -
ww. Customer fails to repay the EMI due to personal set backs/job losses/unforeseen medical expenses
xx. Customer deliberately fails to pay the EMIs yy. Both (a) + (b)
zz. Intentions of borrowers are malafide
Q.309. A wilful default is called, when customer - aaa. Deliberately fails to pay
bbb. Fails to pay due to job losses and unforeseen expenses ccc. Attitude of the borrower negative
ddd. Both (a) + (c)
Q310. Recovery policy of the bank's is based on-
eee.Dignity and respect to customers/fair-persuasion and courtesy to customer/fostering customer confidence and long term relationship
fff. Expectation of bank customer to adhere to repayment schedule
ggg. Recognition of fairness and transparency in repossession /valuation and realization of security hhh. All above
Q.311. Bank's recovery staff and debt recovery agents have to follow certain guidelines in recovery -
a) Borrower to be contracted by telephone at place of residence or place of business during 7am to 9 am only excluding hours which are requested by borrowers not to make calls
b) Privacy of borrower to be respected/when personally visiting at residence or office discussion or demand of recovery should not be in the presence of other persons
c) Identification and authority to collect EMIs should be with the DRA
d) All above
Q.312. A movable property say, two wheelers, has been repossessed by the DRA. As per bank's policy document what are the chances of the borrower to get back the security after that?
iii. Where all overdues are paid by the borrower
jjj. Depriving the borrower of the two wheeler is not the intention of the creditor/even before concluding the sale of two wheeler to third part by the bank if all the dues are paid by borrower
kkk. Both (a) + (b)
lll. No chance for getting back the two wheeler
Q.313. What consideration the banks are required to take into account before engaging recovery agents?
mmm. Due diligence process/due notice and appropriate authorisation
nnn. Up-to-date details of recovery agency/disposal of complaints against recovery agents, bank should disposed of themselves
ooo. Some of (a) and some of (b)
ppp. Both (a) + (b)
Q.314. Other ways of recovery of loans to banks are - qqq. Lok adalats
rrr. Debt Recovery Tribunals
sss. Recovery under SARFAESI Act, 2002 ttt. Any of above
Q.315. When the method of recovery of Lok Ada lat be adopted by banks?
uuu. Due upto 7 5 lakhs
vvv. Due less than 10 lakhs
www. Due upto 1 lakhs
xxx. Due upto any amountofpersonalloansorhousingloans/creditcardloans
Q.316. Debt Recovery Tribunals is a useful method of recovery for bank-
yyy. Loans extended by financial institutions
zzz. Recovery of bad debts quickly and efficiently under the provision of Recovery of Debts due to Banks and Financial Institutions Act, 1993
aaaa. Care hear cross suits/counter claims and other set offs (d) All above
Q.317. DRT cases pass comprehensive orders like in- (a) Civil court
bbbb. Criminal court
cccc. Magistrate First Class
dddd. All above
Q.318. DRT can do bank cases-
eeee. Appoint Receivers/commissioners ffff. Pass exparte orders/interim orders
gggg. Reviews own decisions/ hear appeals against orders of recovery officers hhhh. All above
Q.319. Recovery officers of DRT has powers of -
a. Judicial
b. Non-Judicial
c. Criminal
d. Civil
Q.320. What kind of evidence examination is allowed to a DRT?
a) Examination
b) Cross examination
c) Frivolous cross examination
d) Any of (a) and (b)
Q.321. The purpose of SARFAESI Act is -
(a) Take possession of securities
(b) Take possession of securities and sell them
(c) Bank executive of Asstt. General Manager to work as a judicial magistrate (d) None of above
a. Voluntary code of conduct of banks for individuals
b. For compliance of promises made by banks under retail banking to customers
c. Statutory authority for punishing banks
d. Both (a) + (b)
Q.285. BCSBI is a voluntary code such as -
a) Minimum standards of banking practices for banks to follow
b) Maximum standards of banking practices their meaning universally
c) Statutory authority for punishing banks
d) Both (a) + (b)
Q.286. BCSBI is bound to comply the code for -
(a) Corporate customers
(b) Individual customers
(c) Individual and Corporate customers
(d) Not bound
Q.287. BCSBI has been constituted to -
(a) Promote good and fair banking practices under minimum standards
(b) Increase transparency for reasonable expectancy under service
(c) Promote a fair and cordial relationship between Individual customers and bank
(d) All above
Q.288. The code covers the commitment of the bank and applies to all who provide services/products to customers
(a) Branches/Subsidiaries/Agents
(b) Branches/across the counter/Over phone/By post/e-devices/ internet
(c) Both (a) + (b)
(d) All above
Q.289. There are 43 various commitments which are made by banks and coded under BCSBI. Some of the major services over which code applicable are -
(a) Current/Savings/Term/cumulative deposits
(b) Credit card/Debit card/ATM card and loans and overdrafts
(c) Third Party insurance and investment products
(d) Both (a) + (b)
(e) All above
Q.290. Bank's main commitment towards customers-
(a) Making all transactions transparent and justifiable (b) Making available to customers and all about their products and services
(c) Complaints, grievances and feed back (d) Both (a) + (c)
Q.291. Deposit accounts centre opened in the style of -
a. Single/Joint with maximum 3 persons and joint with either or, survivor/former of survivor
b. Individual/Institutional authority under single operation of joint operation
c. Minors/Minors with guardian as Operator minors above 13 years of age independently and minors below 13 years with guardian
d. All above
Q.292 Before opening any deposit account -
(a) Observances of Know your customer guidelines
(b) Observances of Know about your customer guidelines (c)Observances of Know about your new customer guidelines
(d) Observances of Know your corporation guidelines
Q.293. Customer wants to close the operative savings/current account instructions are given by customer in writing to bank, account can be closed maximum upto
a) Immediate
b) Next working day
c) Within 3 working days
d) Within 3 days
Q.294. Sidhant want to transfer his account to another branch at Kolkata, When the account would be operative in Kolkata br.?
(a) Within 2 weeks of request
(b) Within 1 weeks of request
(c) At the least in 3 weeks
(d) Depends on the work load at new branch at Kolkata
Q.295. The saving bank a/c of Shreya Govil at Bank of India Goregaon Mumbai was requested for transfer to hew new place of posting at Karol Bagh, New Delhi on 7.5.2011. The account at new branch could only be opened, due to lethargic attitude of new branch on 29.06.2011. She compliined to bank for this delay and demanded compensation from bank. What the bank cad do?
a. Say sorry for delay
b. Refund any charges received from account holder on account of transfer
c. Pay compensation of t 500 for under delay, minimum
d. No refund of any charges already debited to account holder
Q.296. How much minimum balance is to be maintained in any deposit account, when to be informed or made known to the customer?
e. Inform orally to all depositors
f. Inform in writing to depositors
g. Displayed in the branch
h. Inform in local newspaper
Q.297. Bank wants to amend the minimum balance required indepositaccountswhencanbankchangethisbynoticeperiodof -
i. 30 days in advance
j. Immediate effect
k. 7 days notice
l. Can implement withoutany notice period
Q.298. HDFC Bank Ltd., had givenconcessionon lifetime credit card issued. After 2 years of issue andits validity they want to withdraw this concession. Canthe bank do it?
m. Yes-Can do so
n. Concession can not be withdrawn
o. Yes-Can do it one any changes are made in Service charges schedule
p. No-cannot do it in the interest of customer
Q.299. Shrikant Govil has a term deposit with ICICI Bank Ltd, Provisions of Income Tax Act 1961 as applicable to interest income accruing he wants to Know. Whose responsibility is it?
q. Bank will advise to provisions for exemption from TDS
r. Bank not bound to do, it is customer's own responsibility
s. Bank legally bound as per BCSBI
t. Bank are bound to point such rules on the receipt of term of deposits.
Q.300. What do you mean by No Frill Account" or Basic Banking Account? Define its features?
u. Very low or nil minimum balance/maximum balance is stated
v. Only for illiterate and poor customers
w. Cannot comply with KYC Norms fully but introduced by bank's customer
x. Both (a) + (c)
Q.301. Dormant or in operative accounts mean -
(a) 2 years ormoreperiod duringwhichno continuousoperationexpectcreditof half yearly interest on savings account
(b) 3 years or more period and thereof as in (a)
(c) 2 years or more period during which credit of term deposits quarterly interest in operative savings/current account is made
(d) 10 years or more period, and the rest as in (a)
Q.302. What is the regulation in BCSBI, as to the information to customers about the notice period, before
classification of accounts as dormant or inoperative a/c.
y. 30 days
z. 90 days aa. 3 months
bb. No notice period
Q.303. Is any bank authorised under BCSBI to close any customer's account of its own?
cc. Not authorised
dd. Improper conduct of account but with 30 days notice ee. Improper conduct of account but without any notice
ff. Customer's account can only be closed by customer only
Q.304. If any amount under ATM Card transaction is wrongly
debited to customer account without any delivery of cash, then upto what maximum period bank is bound (of which the ATM card belongs) to reimburse the amount?
gg. 3 working days hh. 7 working days
ii. 12 working days
jj. Immediate on receipt of compliant
Q.305. If there is any delay or failure in executing the direct debits ECS/standing instructions resulting in financial loss on additional cost then -
kk. Bank will compensate
ll. Will not compensately if small loss suffered
mm. Will not compensate even through customer has suffered any loss nn. Both (b) + (c)
Q.306. What is default in retail loans?
oo. Occurrence of an event which happens due to non payment of agreed installments pp. Non adherence to repayment schedule as per commitments of agreed installments qq. Both (a) + (b)
rr. Customers not willing to pay the loan
Q.307. Rescheduling of the loan happens -
ss. Increase in EMI
tt. Earlier fixed EMI under extended period uu. It happens in long term loans only
vv. All above
Q.308. A default is called genuine default when -
ww. Customer fails to repay the EMI due to personal set backs/job losses/unforeseen medical expenses
xx. Customer deliberately fails to pay the EMIs yy. Both (a) + (b)
zz. Intentions of borrowers are malafide
Q.309. A wilful default is called, when customer - aaa. Deliberately fails to pay
bbb. Fails to pay due to job losses and unforeseen expenses ccc. Attitude of the borrower negative
ddd. Both (a) + (c)
Q310. Recovery policy of the bank's is based on-
eee.Dignity and respect to customers/fair-persuasion and courtesy to customer/fostering customer confidence and long term relationship
fff. Expectation of bank customer to adhere to repayment schedule
ggg. Recognition of fairness and transparency in repossession /valuation and realization of security hhh. All above
Q.311. Bank's recovery staff and debt recovery agents have to follow certain guidelines in recovery -
a) Borrower to be contracted by telephone at place of residence or place of business during 7am to 9 am only excluding hours which are requested by borrowers not to make calls
b) Privacy of borrower to be respected/when personally visiting at residence or office discussion or demand of recovery should not be in the presence of other persons
c) Identification and authority to collect EMIs should be with the DRA
d) All above
Q.312. A movable property say, two wheelers, has been repossessed by the DRA. As per bank's policy document what are the chances of the borrower to get back the security after that?
iii. Where all overdues are paid by the borrower
jjj. Depriving the borrower of the two wheeler is not the intention of the creditor/even before concluding the sale of two wheeler to third part by the bank if all the dues are paid by borrower
kkk. Both (a) + (b)
lll. No chance for getting back the two wheeler
Q.313. What consideration the banks are required to take into account before engaging recovery agents?
mmm. Due diligence process/due notice and appropriate authorisation
nnn. Up-to-date details of recovery agency/disposal of complaints against recovery agents, bank should disposed of themselves
ooo. Some of (a) and some of (b)
ppp. Both (a) + (b)
Q.314. Other ways of recovery of loans to banks are - qqq. Lok adalats
rrr. Debt Recovery Tribunals
sss. Recovery under SARFAESI Act, 2002 ttt. Any of above
Q.315. When the method of recovery of Lok Ada lat be adopted by banks?
uuu. Due upto 7 5 lakhs
vvv. Due less than 10 lakhs
www. Due upto 1 lakhs
xxx. Due upto any amountofpersonalloansorhousingloans/creditcardloans
Q.316. Debt Recovery Tribunals is a useful method of recovery for bank-
yyy. Loans extended by financial institutions
zzz. Recovery of bad debts quickly and efficiently under the provision of Recovery of Debts due to Banks and Financial Institutions Act, 1993
aaaa. Care hear cross suits/counter claims and other set offs (d) All above
Q.317. DRT cases pass comprehensive orders like in- (a) Civil court
bbbb. Criminal court
cccc. Magistrate First Class
dddd. All above
Q.318. DRT can do bank cases-
eeee. Appoint Receivers/commissioners ffff. Pass exparte orders/interim orders
gggg. Reviews own decisions/ hear appeals against orders of recovery officers hhhh. All above
Q.319. Recovery officers of DRT has powers of -
a. Judicial
b. Non-Judicial
c. Criminal
d. Civil
Q.320. What kind of evidence examination is allowed to a DRT?
a) Examination
b) Cross examination
c) Frivolous cross examination
d) Any of (a) and (b)
Q.321. The purpose of SARFAESI Act is -
(a) Take possession of securities
(b) Take possession of securities and sell them
(c) Bank executive of Asstt. General Manager to work as a judicial magistrate (d) None of above
ANSWER-
284 D 285 A 286 B 287 D
288 D 289 D 290 D 291 D
292 A 293 C
294 A 295 D 296 C 297 A
298 B 299 A 300 D 301 A
302 C 303 B
304 C 305 A 306 A 307 D
308 A 309 D 310 D 311 D
312 C 313 D
314 D 315 B 316 D 317 A
318 D 319 A 320 D 321 B
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