Q901. What does NEFT
stand for?
Q301. Which
institution regulates banks in India?
Q601. What is the
full form of ATM?
📘 More than 500 MCQ on Banking & Finance (CPD-1 Paper-1)
👉 Answer shown after
each question
Q521.
Which of the following is a scheduled bank?
A. Any cooperative bank
B. Bank included in Second Schedule of RBI Act
C. Any foreign bank
D. Any public sector bank
✅ Answer: B
Q522.
Minimum paid-up capital for a banking company is:
A. ₹1 crore
B. ₹5 crore
C. ₹10 crore
D. ₹50 crore
✅ Answer: B
Q523.
Which bank was the first Indian bank to be nationalised?
A. SBI
B. Imperial Bank of India
C. Allahabad Bank
D. Bank of India
✅ Answer: C
Q524.
How many banks were nationalised in 1969?
A. 10
B. 12
C. 14
D. 20
✅ Answer: C
Q525.
How many banks were nationalised in 1980?
A. 4
B. 6
C. 8
D. 10
✅ Answer: A
Q526.
Regional Rural Banks were established under:
A. Banking Regulation Act
B. RBI Act
C. RRB Act, 1976
D. NABARD Act
✅ Answer: C
Q527.
Ownership of RRBs is shared by:
A. Central Government only
B. State Government only
C. Sponsor Bank only
D. Central Govt, State Govt & Sponsor Bank
✅ Answer: D
Q528.
Shareholding pattern in RRBs is:
A. 40:30:30
B. 50:15:35
C. 50:25:25
D. 60:20:20
✅ Answer: C
Q529.
Lead Bank Scheme was introduced on recommendation of:
A. Narasimham Committee
B. Gadgil Committee
C. Rangarajan Committee
D. Kelkar Committee
✅ Answer: B
Q530.
Which institution coordinates Lead Bank Scheme?
A. RBI
B. NABARD
C. Sponsor bank
D. State Government
✅ Answer: A
Q531.
Which bank acts as sponsor bank to RRBs?
A. RBI
B. NABARD
C. Public sector bank
D. State cooperative bank
✅ Answer: C
Q532.
Which bank is banker’s bank in India?
A. SBI
B. RBI
C. NABARD
D. SEBI
✅ Answer: B
Q533.
Which bank is custodian of foreign exchange reserves?
A. SBI
B. NABARD
C. RBI
D. SEBI
✅ Answer: C
Q534.
Which is apex institution for agricultural finance?
A. RBI
B. NABARD
C. SIDBI
D. EXIM Bank
✅ Answer: B
Q535.
SIDBI is mainly associated with financing of:
A. Agriculture
B. Small industries
C. Exports
D. Infrastructure
✅ Answer: B
Q536.
EXIM Bank provides finance mainly for:
A. MSMEs
B. Agriculture
C. Exports and imports
D. Retail loans
✅ Answer: C
Q537.
Which bank provides refinance to cooperative banks?
A. RBI
B. SIDBI
C. NABARD
D. EXIM Bank
✅ Answer: C
Q538.
Which act governs cooperative banks?
A. Companies Act
B. Banking Regulation Act
C. Cooperative Societies Act
D. Both B and C
✅ Answer: D
Q539.
Which type of bank primarily deals with long-term industrial
finance?
A. Commercial bank
B. Cooperative bank
C. Development bank
D. RRB
✅ Answer: C
Q540.
Which bank was set up for refinancing export credit?
A. NABARD
B. SIDBI
C. EXIM Bank
D. RBI
✅ Answer: C
Q541.
Which committee recommended setting up of NABARD?
A. Narasimham Committee
B. Rangarajan Committee
C. Shivraman Committee
D. Gadgil Committee
✅ Answer: C
Q542.
NABARD was established in:
A. 1975
B. 1981
C. 1982
D. 1990
✅ Answer: C
Q543.
Which of the following is NOT a function of NABARD?
A. Refinance
B. Supervision of RRBs
C. Issue of currency
D. Development of rural credit
✅ Answer: C
Q544.
Which bank supervises RRBs and cooperative banks?
A. RBI
B. NABARD
C. SIDBI
D. EXIM Bank
✅ Answer: B
Q545.
Which committee recommended restructuring of RRBs?
A. Narasimham Committee
B. Kelkar Committee
C. K. C. Chakrabarty Committee
D. Vyas Committee
✅ Answer: D
Q546.
Which bank acts as banker to State Governments?
A. SBI
B. RBI
C. NABARD
D. SEBI
✅ Answer: B
Q547.
Which bank manages public debt in India?
A. RBI
B. SBI
C. SEBI
D. NABARD
✅ Answer: A
Q548.
Which institution regulates NBFCs?
A. SEBI
B. RBI
C. NABARD
D. Ministry of Finance
✅ Answer: B
Q549.
NBFCs are governed by:
A. Companies Act
B. RBI Act
C. Both A and B
D. Banking Regulation Act
✅ Answer: C
Q550.
Which NBFC accepts public deposits?
A. NBFC-ND
B. NBFC-D
C. Housing Finance Company
D. Core Investment Company
✅ Answer: B
Q551.
Which NBFC is primarily engaged in housing finance?
A. NBFC-D
B. CIC
C. HFC
D. MFI
✅ Answer: C
Q552.
Which institution regulates Housing Finance Companies?
A. RBI
B. NHB
C. SEBI
D. NABARD
✅ Answer: B
Q553.
Microfinance institutions primarily lend to:
A. Corporates
B. Farmers only
C. Low-income groups
D. Government
✅ Answer: C
Q554.
Which bank provides refinance to SIDBI?
A. RBI
B. NABARD
C. EXIM Bank
D. SBI
✅ Answer: A
Q555.
Which is a specialised bank for small industries?
A. NABARD
B. EXIM Bank
C. SIDBI
D. SBI
✅ Answer: C
Q556.
Which type of bank cannot accept demand deposits?
A. Commercial bank
B. Cooperative bank
C. Development bank
D. RRB
✅ Answer: C
Q557.
Which of the following institutions is not a bank?
A. NABARD
B. SIDBI
C. RBI
D. SEBI
✅ Answer: D
Q558.
Which bank provides refinance to export credit?
A. NABARD
B. SIDBI
C. EXIM Bank
D. RBI
✅ Answer: C
Q559.
Which bank is responsible for regulation of payment systems?
A. RBI
B. SEBI
C. NPCI
D. SBI
✅ Answer: A
Q560.
UPI is operated by:
A. RBI
B. SBI
C. NPCI
D. SEBI
✅ Answer: C
Q561.
IMPS stands for:
A. Indian Money Payment System
B. Immediate Money Payment Service
C. Immediate Payment Service
D. Interbank Money Payment System
✅ Answer: C
Q562.
Which payment system operates 24×7?
A. NEFT
B. RTGS
C. IMPS
D. CTS
✅ Answer: C
Q563.
RTGS is used for transactions of:
A. Low value
B. Any amount
C. High value
D. International payments
✅ Answer: C
Q564.
Minimum amount for RTGS is:
A. ₹1 lakh
B. ₹2 lakh
C. ₹5 lakh
D. No minimum
✅ Answer: B
Q565.
NEFT operates on:
A. Gross basis
B. Net basis
C. Real-time basis
D. Offline basis
✅ Answer: B
Q566.
Cheque Truncation System (CTS) means:
A. Physical movement of cheque
B. Electronic clearing of cheques
C. Manual verification
D. Clearing without image
✅ Answer: B
Q567.
Which system replaced physical cheque clearing?
A. RTGS
B. NEFT
C. CTS
D. IMPS
✅ Answer: C
Q568.
CTS-2010 refers to:
A. Cheque security features
B. Year of introduction
C. RBI circular number
D. Clearing cycle
✅ Answer: A
Q569.
Which instrument is used for bulk electronic fund transfer?
A. IMPS
B. RTGS
C. NEFT
D. ECS
✅ Answer: D
Q570.
ECS is mainly used for:
A. High value transfers
B. One-time payments
C. Repetitive bulk payments
D. International remittance
✅ Answer: C
Q571.
Which electronic payment system is mainly used for salary
and pension payments?
A. RTGS
B. NEFT
C. IMPS
D. ECS
✅ Answer: D
Q572.
Which payment system allows instant transfer using mobile
number or VPA?
A. NEFT
B. RTGS
C. UPI
D. ECS
✅ Answer: C
Q573.
BHIM app is an interface for:
A. NEFT
B. RTGS
C. UPI
D. IMPS
✅ Answer: C
Q574.
Which authority regulates payment and settlement systems in
India?
A. SEBI
B. RBI
C. NPCI
D. Ministry of Finance
✅ Answer: B
Q575.
Which Act governs payment and settlement systems?
A. RBI Act
B. Banking Regulation Act
C. Payment and Settlement Systems Act, 2007
D. FEMA
✅ Answer: C
Q576.
Which card is linked directly to customer’s bank account?
A. Credit card
B. Debit card
C. Charge card
D. Smart card
✅ Answer: B
Q577.
Credit card provides:
A. Customer’s own money
B. Overdraft facility
C. Short-term credit
D. Term loan
✅ Answer: C
Q578.
Which number uniquely identifies a bank branch in electronic
payments?
A. MICR
B. IFSC
C. SWIFT
D. CIF
✅ Answer: B
Q579.
MICR code is mainly used for:
A. RTGS
B. NEFT
C. Cheque clearing
D. IMPS
✅ Answer: C
Q580.
SWIFT is used for:
A. Domestic payments
B. Card payments
C. International fund transfers
D. Cheque clearing
✅ Answer: C
Q581.
Which card allows withdrawal of cash from ATM?
A. Credit card
B. Debit card
C. Smart card
D. Gift card
✅ Answer: B
Q582.
Prepaid payment instruments include:
A. Debit cards
B. Credit cards
C. Wallets
D. Savings accounts
✅ Answer: C
Q583.
Which of the following is NOT a prepaid instrument?
A. Mobile wallet
B. Gift card
C. Debit card
D. Meal card
✅ Answer: C
Q584.
Which institution operates NPCI?
A. RBI
B. Consortium of banks
C. Government of India
D. SEBI
✅ Answer: B
Q585.
Which payment system is best suited for high-value interbank
transactions?
A. NEFT
B. IMPS
C. RTGS
D. UPI
✅ Answer: C
Q586.
Minimum amount for NEFT transaction is:
A. ₹1
B. ₹100
C. ₹1,000
D. No minimum
✅ Answer: A
Q587.
Which system settles transactions on net basis?
A. RTGS
B. IMPS
C. NEFT
D. UPI
✅ Answer: C
Q588.
RTGS stands for:
A. Real Time Gross Settlement
B. Real Transfer Gross System
C. Reserve Transfer Gross System
D. Real Time Global Settlement
✅ Answer: A
Q589.
Which payment system is available 24×7 including holidays?
A. NEFT
B. RTGS
C. IMPS
D. All of the above
✅ Answer: D
Q590.
Which electronic mode uses Aadhaar for authentication?
A. NEFT
B. AEPS
C. RTGS
D. SWIFT
✅ Answer: B
Q591.
AEPS stands for:
A. Aadhaar Enabled Payment System
B. Automated Electronic Payment System
C. Advanced Electronic Payment System
D. Aadhaar Electronic Processing System
✅ Answer: A
Q592.
Which transaction is allowed under AEPS?
A. Share trading
B. Cash withdrawal
C. International transfer
D. Forex remittance
✅ Answer: B
Q593.
Which identifier is used in UPI instead of account number?
A. IFSC
B. MICR
C. VPA
D. SWIFT
✅ Answer: C
Q594.
Which payment system is mainly used for government subsidy
transfers?
A. RTGS
B. NEFT
C. DBT
D. IMPS
✅ Answer: C
Q595.
DBT stands for:
A. Direct Bank Transfer
B. Digital Banking Transaction
C. Direct Benefit Transfer
D. Domestic Benefit Transfer
✅ Answer: C
Q596.
Which initiative aims to promote digital payments?
A. Digital India
B. Make in India
C. Startup India
D. Skill India
✅ Answer: A
Q597.
Which security feature is used in card transactions?
A. OTP
B. PIN
C. CVV
D. All of the above
✅ Answer: D
Q598.
Which is an example of contactless payment?
A. NEFT
B. RTGS
C. NFC card
D. ECS
✅ Answer: C
Q599.
Which mobile payment uses QR code?
A. RTGS
B. NEFT
C. UPI
D. ECS
✅ Answer: C
Q600.
Which risk is highest in electronic banking?
A. Credit risk
B. Market risk
C. Cyber risk
D. Liquidity risk
✅ Answer: C
Q601.
Phishing is related to:
A. Loan recovery
B. Cyber fraud
C. Cheque fraud
D. ATM cash shortage
✅ Answer: B
Q602.
Two-factor authentication means:
A. Two passwords
B. Card + PIN
C. Two separate banks
D. Two accounts
✅ Answer: B
Q603.
Which is NOT a delivery channel of banks?
A. ATM
B. Internet banking
C. Mobile banking
D. Stock exchange
✅ Answer: D
Q604.
Which service allows banking through mobile phone?
A. Core banking
B. Mobile banking
C. Branch banking
D. Unit banking
✅ Answer: B
Q605.
Core Banking Solution (CBS) enables:
A. Branch-wise accounting
B. Anywhere banking
C. Manual clearing
D. Offline transactions
✅ Answer: B
Q606.
Which technology is used in smart cards?
A. Magnetic stripe only
B. Microprocessor chip
C. Barcode
D. Optical character
✅ Answer: B
Q607.
Which facility allows customers to use same account at
different branches?
A. Unit banking
B. Branch banking
C. Core banking
D. Relationship banking
✅ Answer: C
Q608.
Internet banking requires:
A. Physical presence
B. Cheque book
C. Internet connectivity
D. Passbook
✅ Answer: C
Q609.
Which risk arises due to system failure?
A. Credit risk
B. Market risk
C. Operational risk
D. Liquidity risk
✅ Answer: C
Q610.
Which authentication uses fingerprint?
A. PIN
B. OTP
C. Biometric
D. Password
✅ Answer: C
Q611.
Which system allows customers to access multiple bank
services through one login?
A. CBS
B. RTGS
C. ECS
D. MICR
✅ Answer: A
Q612.
Which electronic payment is best for recurring utility
bills?
A. RTGS
B. ECS
C. IMPS
D. SWIFT
✅ Answer: B
Q613.
Which facility allows instant mobile-to-mobile payments?
A. NEFT
B. RTGS
C. ECS
D. UPI
✅ Answer: D
Q614.
Which of the following is a cybercrime?
A. Skimming
B. Phishing
C. Hacking
D. All of the above
✅ Answer: D
Q615.
Which factor is MOST important for safe internet banking?
A. Strong password
B. Updated browser
C. Antivirus
D. All of the above
✅ Answer: D
Q616.
What does “Zero balance account” mean?
A. No minimum balance required
B. No withdrawals allowed
C. No deposits allowed
D. No interest paid
✅ Answer: A
Q617.
Which scheme provides zero balance accounts?
A. PMJDY
B. PMFBY
C. APY
D. NPS
✅ Answer: A
Q618.
PMJDY stands for:
A. Pradhan Mantri Jan Dhan Yojana
B. Prime Minister Job Deposit Yojana
C. Public Money Jan Dhan Yojana
D. Pradhan Mantri Joint Deposit Yojana
✅ Answer: A
Q619.
Overdraft facility in PMJDY is available up to:
A. ₹2,000
B. ₹5,000
C. ₹10,000
D. ₹15,000
✅ Answer: C
Q620.
RuPay is a:
A. Credit rating agency
B. Payment card network
C. Mobile app
D. Bank
✅ Answer: B
Q621.
Which scheme provides accidental insurance cover to PMJDY
account holders?
A. PMSBY
B. PMJJBY
C. APY
D. PMFBY
✅ Answer: A
Q622.
PMJJBY provides insurance cover against:
A. Accident only
B. Death due to any reason
C. Disability
D. Crop loss
✅ Answer: B
Q623.
Annual premium under PMJJBY is:
A. ₹12
B. ₹20
C. ₹330
D. ₹436
✅ Answer: C
Q624.
Annual premium under PMSBY is:
A. ₹12
B. ₹20
C. ₹330
D. ₹1,000
✅ Answer: B
Q625.
Which scheme provides guaranteed pension to unorganised
sector workers?
A. PMJJBY
B. PMSBY
C. APY
D. NPS
✅ Answer: C
Q626.
Atal Pension Yojana is regulated by:
A. RBI
B. SEBI
C. PFRDA
D. IRDAI
✅ Answer: C
Q627.
Minimum age to join APY is:
A. 16 years
B. 18 years
C. 21 years
D. 25 years
✅ Answer: B
Q628.
Maximum age to join APY is:
A. 35 years
B. 40 years
C. 45 years
D. 50 years
✅ Answer: D
Q629.
Which pension scheme is mandatory for central government
employees (post-2004)?
A. APY
B. NPS
C. EPF
D. EPS
✅ Answer: B
Q630.
NPS is regulated by:
A. RBI
B. SEBI
C. PFRDA
D. IRDAI
✅ Answer: C
Q631.
Tier-I account under NPS is:
A. Withdrawable anytime
B. Non-withdrawable till retirement (with conditions)
C. For trading
D. Optional only
✅ Answer: B
Q632.
Tier-II account under NPS is:
A. Mandatory
B. Non-withdrawable
C. Voluntary and withdrawable
D. Only for government employees
✅ Answer: C
Q633.
Which tax section provides deduction for NPS contribution?
A. 80C only
B. 80CCD
C. 80D
D. 80G
✅ Answer: B
Q634.
Maximum additional deduction under Section 80CCD(1B) is:
A. ₹25,000
B. ₹50,000
C. ₹75,000
D. ₹1,00,000
✅ Answer: B
Q635.
Which scheme provides crop insurance to farmers?
A. PMJDY
B. PMSBY
C. PMFBY
D. APY
✅ Answer: C
Q636.
PMFBY stands for:
A. Pradhan Mantri Fasal Bima Yojana
B. Pradhan Mantri Farmer Benefit Yojana
C. Prime Minister Farm Bonus Yojana
D. Pradhan Mantri Financial Benefit Yojana
✅ Answer: A
Q637.
Premium for PMFBY for Kharif crops is capped at:
A. 1%
B. 1.5%
C. 2%
D. 5%
✅ Answer: C
Q638.
Premium for PMFBY for Rabi crops is capped at:
A. 1%
B. 1.5%
C. 2%
D. 5%
✅ Answer: A
Q639.
Which authority implements PMFBY?
A. RBI
B. NABARD
C. State Governments
D. Insurance companies with states
✅ Answer: D
Q640.
Which scheme provides overdraft facility to women SHG
members?
A. PMJDY
B. PMMY
C. NRLM
D. APY
✅ Answer: C
Q641.
PMMY stands for:
A. Pradhan Mantri Mudra Yojana
B. Prime Minister Micro Unit Yojana
C. Pradhan Mantri Microfinance Yojana
D. Prime Minister Money Yojana
✅ Answer: A
Q642.
Under PMMY, Shishu loan is up to:
A. ₹25,000
B. ₹50,000
C. ₹1 lakh
D. ₹5 lakh
✅ Answer: B
Q643.
Under PMMY, Kishor loan is up to:
A. ₹50,000
B. ₹1 lakh
C. ₹5 lakh
D. ₹10 lakh
✅ Answer: C
Q644.
Under PMMY, Tarun loan is up to:
A. ₹5 lakh
B. ₹7.5 lakh
C. ₹10 lakh
D. ₹15 lakh
✅ Answer: C
Q645.
Which institution refinances Mudra loans?
A. RBI
B. NABARD
C. SIDBI
D. MUDRA Ltd
✅ Answer: D
Q646.
MUDRA stands for:
A. Micro Units Development & Refinance Agency
B. Micro Urban Development Refinance Agency
C. Medium Units Development Refinance Agency
D. Micro Units Deposit & Refinance Authority
✅ Answer: A
Q647.
Which scheme aims at skill development of youth?
A. PMJDY
B. PMKVY
C. PMFBY
D. PMMY
✅ Answer: B
Q648.
PMKVY stands for:
A. Pradhan Mantri Kaushal Vikas Yojana
B. Prime Minister Knowledge Vikas Yojana
C. Pradhan Mantri Kisan Vikas Yojana
D. Prime Minister Kaushal Value Yojana
✅ Answer: A
Q649.
Which scheme provides LPG connection to poor households?
A. UDAY
B. UJJWALA
C. SAUBHAGYA
D. SWACHH BHARAT
✅ Answer: B
Q650.
SAUBHAGYA scheme relates to:
A. Drinking water
B. LPG
C. Electricity connection
D. Sanitation
✅ Answer: C
Q651.
SWACHH BHARAT MISSION focuses on:
A. Housing
B. Health insurance
C. Sanitation
D. Education
✅ Answer: C
Q652.
Which scheme provides housing for urban poor?
A. PMFBY
B. PMJDY
C. PMAY (Urban)
D. APY
✅ Answer: C
Q653.
PMAY stands for:
A. Pradhan Mantri Awas Yojana
B. Prime Minister Affordable Yojana
C. Pradhan Mantri Assistance Yojana
D. Public Model Awas Yojana
✅ Answer: A
Q654.
Interest subsidy under PMAY is provided under:
A. CLSS
B. PMMY
C. APY
D. NRLM
✅ Answer: A
Q655.
CLSS stands for:
A. Credit Linked Subsidy Scheme
B. Central Loan Support Scheme
C. Credit Lending Support Scheme
D. Consumer Loan Subsidy Scheme
✅ Answer: A
Q656.
Which scheme focuses on rural livelihoods?
A. NRLM
B. PMJDY
C. PMMY
D. PMKVY
✅ Answer: A
Q657.
NRLM stands for:
A. National Rural Livelihood Mission
B. National Resource Lending Mission
C. New Rural Loan Mission
D. National Revenue Livelihood Mission
✅ Answer: A
Q658.
Which mission replaced SGSY?
A. PMJDY
B. NRLM
C. PMMY
D. APY
✅ Answer: B
Q659.
Which scheme provides financial support to senior citizens?
A. APY
B. SCSS
C. PMJJBY
D. PMSBY
✅ Answer: B
Q660.
SCSS stands for:
A. Senior Citizen Savings Scheme
B. Social Citizen Support Scheme
C. Senior Credit Support Scheme
D. State Citizen Savings Scheme
✅ Answer: A
Q661.
Maximum investment under SCSS is:
A. ₹10 lakh
B. ₹15 lakh
C. ₹20 lakh
D. ₹30 lakh
✅ Answer: B
Q662.
Which scheme provides income support to farmers?
A. PMFBY
B. PMJDY
C. PM-KISAN
D. PMMY
✅ Answer: C
Q663.
PM-KISAN provides annual income support of:
A. ₹4,000
B. ₹6,000
C. ₹8,000
D. ₹10,000
✅ Answer: B
Q664.
PM-KISAN amount is paid in:
A. One installment
B. Two installments
C. Three installments
D. Monthly
✅ Answer: C
Q665.
Which scheme provides health insurance cover to poor
families?
A. PMJDY
B. PMJJBY
C. Ayushman Bharat
D. PMSBY
✅ Answer: C
Q666.
Ayushman Bharat provides health cover up to:
A. ₹2 lakh
B. ₹3 lakh
C. ₹5 lakh
D. ₹10 lakh
✅ Answer: C
Q667.
Which component of Ayushman Bharat focuses on wellness
centres?
A. PMJAY
B. Health and Wellness Centres
C. CGHS
D. ESIC
✅ Answer: B
Q668.
PMJAY stands for:
A. Pradhan Mantri Jan Arogya Yojana
B. Prime Minister Job Arogya Yojana
C. Public Medical Jan Arogya Yojana
D. Prime Minister Jan Health Yojana
✅ Answer: A
Q669.
Which authority implements PMJAY?
A. RBI
B. NABARD
C. National Health Authority
D. IRDAI
✅ Answer: C
Q670.
Which scheme provides insurance cover to bank account
holders?
A. PMSBY
B. PMJJBY
C. PMJDY
D. All of the above
✅ Answer: D
Q671.
Which scheme provides social security to workers in
unorganised sector?
A. PMJDY
B. APY
C. PM-SYM
D. PMSBY
✅ Answer: C
Q672.
PM-SYM stands for:
A. Pradhan Mantri Shram Yojana
B. Pradhan Mantri Shram Yogi Maandhan
C. Prime Minister Social Yojana
D. Pradhan Mantri Suraksha Maandhan
✅ Answer: B
Q673.
Entry age for PM-SYM is:
A. 18–35 years
B. 18–40 years
C. 18–50 years
D. 21–60 years
✅ Answer: B
Q674.
Monthly pension under PM-SYM after 60 years is:
A. ₹1,000
B. ₹2,000
C. ₹3,000
D. ₹5,000
✅ Answer: C
Q675.
Which scheme provides pension to small traders and
shopkeepers?
A. PMJDY
B. PMJJBY
C. PM-SYM
D. PM-Laghu Vyapari Maandhan
✅ Answer: D
Q676.
Which organisation manages PM-SYM and PM-Laghu Vyapari
Maandhan?
A. RBI
B. SEBI
C. LIC
D. PFRDA
✅ Answer: D
Q677.
Which scheme provides interest subvention to farmers?
A. PMFBY
B. PMJDY
C. KCC
D. APY
✅ Answer: C
Q678.
Kisan Credit Card was introduced in:
A. 1995
B. 1998
C. 2000
D. 2005
✅ Answer: B
Q679.
KCC scheme is implemented by:
A. RBI
B. NABARD
C. Commercial banks & cooperatives
D. SEBI
✅ Answer: C
Q680.
Interest subvention under KCC is available up to:
A. ₹1 lakh
B. ₹2 lakh
C. ₹3 lakh
D. ₹5 lakh
✅ Answer: C
Q681.
Which card enables farmers to withdraw cash for agricultural
needs?
A. RuPay Card
B. KCC
C. Debit card
D. Smart card
✅ Answer: B
Q682.
Which scheme provides crop loan up to ₹3 lakh at subsidised
interest?
A. PMFBY
B. PMMY
C. KCC
D. APY
✅ Answer: C
Q683.
Which scheme focuses on soil health?
A. PMFBY
B. Soil Health Card Scheme
C. PM-KISAN
D. PMMY
✅ Answer: B
Q684.
Soil Health Card is issued once in:
A. 1 year
B. 2 years
C. 3 years
D. 5 years
✅ Answer: B
Q685.
Which scheme promotes irrigation efficiency?
A. PMFBY
B. PMKSY
C. PMJDY
D. APY
✅ Answer: B
Q686.
PMKSY stands for:
A. Pradhan Mantri Krishi Sinchai Yojana
B. Prime Minister Kisan Support Yojana
C. Pradhan Mantri Krishi Subsidy Yojana
D. Prime Minister Krishi Sahayata Yojana
✅ Answer: A
Q687.
Which scheme promotes organic farming?
A. PMFBY
B. PKVY
C. PMJDY
D. APY
✅ Answer: B
Q688.
PKVY stands for:
A. Paramparagat Krishi Vikas Yojana
B. Pradhan Mantri Krishi Vikas Yojana
C. Prime Kisan Vikas Yojana
D. Parampara Krishi Vikas Yojana
✅ Answer: A
Q689.
Which scheme provides financial assistance for creation of
agri-infrastructure?
A. PMFBY
B. AIF
C. PMMY
D. KCC
✅ Answer: B
Q690.
AIF stands for:
A. Agricultural Infrastructure Fund
B. Agri Investment Fund
C. Agriculture Insurance Fund
D. Allied Infrastructure Fund
✅ Answer: A
Q691.
Which scheme provides collateral-free loans to SHGs?
A. PMJDY
B. PMMY
C. NRLM
D. PMFBY
✅ Answer: C
Q692.
Which mission aims to double farmers’ income?
A. PMFBY
B. PM-KISAN
C. National Mission on Agriculture
D. National Mission on Sustainable Agriculture
✅ Answer: D
Q693.
Which scheme provides assistance for dairy development?
A. PMFBY
B. Rashtriya Gokul Mission
C. PMMY
D. NRLM
✅ Answer: B
Q694.
Which scheme supports fisheries sector?
A. PMFBY
B. PMMSY
C. PMMY
D. PMJDY
✅ Answer: B
Q695.
PMMSY stands for:
A. Pradhan Mantri Matsya Sampada Yojana
B. Prime Minister Marine Support Yojana
C. Pradhan Mantri Marine Security Yojana
D. Prime Minister Matsya Subsidy Yojana
✅ Answer: A
Q696.
Which scheme supports beekeeping?
A. PMFBY
B. NBHM
C. PMMY
D. NRLM
✅ Answer: B
Q697.
NBHM stands for:
A. National Bee Health Mission
B. National Beekeeping & Honey Mission
C. National Bio Honey Mission
D. New Beekeeping Housing Mission
✅ Answer: B
Q698.
Which scheme focuses on bamboo sector development?
A. PMFBY
B. NBM
C. PMMY
D. NRLM
✅ Answer: B
Q699.
NBM stands for:
A. National Bamboo Mission
B. New Bamboo Mission
C. National Bio Mission
D. National Business Mission
✅ Answer: A
Q700.
Which scheme focuses on food processing industry?
A. PMFBY
B. PMKSY
C. PMFME
D. PMMY
✅ Answer: C
Q701.
PMFME stands for:
A. Pradhan Mantri Formalisation of Micro Food Enterprises
B. Prime Minister Food Manufacturing Enterprise
C. Pradhan Mantri Food Management Enterprise
D. Prime Minister Micro Food Economy
✅ Answer: A
Q702.
Which scheme provides credit guarantee to MSMEs?
A. PMMY
B. CGTMSE
C. PMJDY
D. APY
✅ Answer: B
Q703.
CGTMSE stands for:
A. Credit Guarantee Trust for Micro and Small Enterprises
B. Central Guarantee Trust for Medium Enterprises
C. Credit Grant Trust for Small Enterprises
D. Credit Growth Trust for MSMEs
✅ Answer: A
Q704.
Which scheme promotes manufacturing in India?
A. Digital India
B. Skill India
C. Make in India
D. Startup India
✅ Answer: C
Q705.
Startup India aims to promote:
A. Large industries
B. MSMEs only
C. New and innovative startups
D. Public sector units
✅ Answer: C
Q706.
Which scheme provides funding support to startups?
A. SIDBI Fund of Funds
B. NABARD
C. EXIM Bank
D. RBI
✅ Answer: A
Q707.
Which scheme provides collateral-free loans to startups?
A. PMMY
B. Startup India
C. CGTMSE
D. Stand-Up India
✅ Answer: D
Q708.
Stand-Up India scheme is meant for:
A. All citizens
B. Women and SC/ST entrepreneurs
C. Farmers
D. MSMEs only
✅ Answer: B
Q709.
Minimum loan amount under Stand-Up India is:
A. ₹5 lakh
B. ₹10 lakh
C. ₹25 lakh
D. ₹50 lakh
✅ Answer: C
Q710.
Maximum loan amount under Stand-Up India is:
A. ₹50 lakh
B. ₹75 lakh
C. ₹1 crore
D. ₹2 crore
✅ Answer: C
Q711.
Which scheme focuses on skill training of youth?
A. PMJDY
B. PMKVY
C. PMMY
D. APY
✅ Answer: B
Q712.
Which programme aims to provide employment to rural
households?
A. PMJDY
B. MGNREGA
C. PMMY
D. NRLM
✅ Answer: B
Q713.
MGNREGA guarantees employment for how many days in a year?
A. 50 days
B. 75 days
C. 100 days
D. 150 days
✅ Answer: C
Q714.
Which scheme focuses on urban employment generation?
A. MGNREGA
B. PMJDY
C. DAY-NULM
D. PMFBY
✅ Answer: C
Q715.
DAY-NULM stands for:
A. Deendayal Antyodaya Yojana – National Urban Livelihoods
Mission
B. Deendayal Awas Yojana – National Urban Loan Mission
C. Digital Antyodaya Yojana – Urban Mission
D. Deendayal Antyodaya Yojana – National Unemployment Loan Mission
✅ Answer: A
Q716.
Which scheme focuses on financial inclusion?
A. PMJDY
B. PMFBY
C. PMMY
D. APY
✅ Answer: A
Q717.
Which initiative promotes cashless economy?
A. Digital India
B. Skill India
C. Make in India
D. Startup India
✅ Answer: A
Q718.
Which scheme provides accident insurance of ₹2 lakh?
A. PMJJBY
B. PMSBY
C. APY
D. PMJDY
✅ Answer: B
Q719.
Which scheme provides life insurance of ₹2 lakh?
A. PMSBY
B. PMJJBY
C. APY
D. PMFBY
✅ Answer: B
Q720.
Which scheme links Aadhaar with bank account for DBT?
A. PMJDY
B. PMFBY
C. APY
D. PMMY
✅ Answer: A
Q721.
Which scheme promotes digital literacy among rural citizens?
A. Digital India
B. PMGDISHA
C. PMJDY
D. PMKVY
✅ Answer: B
Q722.
PMGDISHA stands for:
A. Pradhan Mantri Gramin Digital Saksharta Abhiyan
B. Prime Minister Global Digital India Scheme
C. Pradhan Mantri Gramin Data Scheme
D. Public Mobile Digital India Scheme
✅ Answer: A
Q723.
Which scheme provides free LPG connection to women from BPL
households?
A. PMFBY
B. UJJWALA
C. SAUBHAGYA
D. PMJDY
✅ Answer: B
Q724.
Which scheme provides electricity connection to all
households?
A. UDAY
B. UJJWALA
C. SAUBHAGYA
D. PMAY
✅ Answer: C
Q725.
Which scheme aims at 100% sanitation coverage?
A. PMAY
B. UJJWALA
C. Swachh Bharat Mission
D. SAUBHAGYA
✅ Answer: C
Q726.
Which scheme focuses on urban housing?
A. PMAY (Urban)
B. PMFBY
C. PMJDY
D. PMMY
✅ Answer: A
Q727.
Which scheme focuses on rural housing?
A. PMAY (Urban)
B. PMFBY
C. PMAY (Gramin)
D. PMJDY
✅ Answer: C
Q728.
PMAY (Gramin) is implemented by:
A. RBI
B. NABARD
C. Ministry of Rural Development
D. SEBI
✅ Answer: C
Q729.
Which scheme provides affordable housing loans with interest
subsidy?
A. PMMY
B. PMAY
C. APY
D. PMJDY
✅ Answer: B
Q730.
Which scheme focuses on cleanliness and sanitation?
A. PMAY
B. PMJDY
C. Swachh Bharat Mission
D. PMFBY
✅ Answer: C
Q731.
Which mission aims to provide tap water to every rural
household?
A. Swachh Bharat
B. Jal Jeevan Mission
C. AMRUT
D. PMFBY
✅ Answer: B
Q732.
Jal Jeevan Mission aims to provide potable water by:
A. 2022
B. 2024
C. 2026
D. 2028
✅ Answer: B
Q733.
Which mission focuses on urban infrastructure development?
A. AMRUT
B. PMJDY
C. PMFBY
D. PMMY
✅ Answer: A
Q734.
AMRUT stands for:
A. Atal Mission for Rejuvenation and Urban Transformation
B. Advanced Mission for Urban Transport
C. Atal Mission for Rural Transformation
D. Affordable Mission for Urban Transport
✅ Answer: A
Q735.
Which scheme focuses on smart cities development?
A. AMRUT
B. PMAY
C. Smart Cities Mission
D. PMJDY
✅ Answer: C
Q736.
Which scheme aims to promote entrepreneurship among women?
A. PMJDY
B. PMMY
C. Stand-Up India
D. PMFBY
✅ Answer: C
Q737.
Which scheme provides loans up to ₹10 lakh to women
entrepreneurs?
A. PMMY
B. PMJDY
C. Stand-Up India
D. APY
✅ Answer: C
Q738.
Which scheme focuses on financial inclusion of unbanked
households?
A. PMJDY
B. PMFBY
C. PMMY
D. APY
✅ Answer: A
Q739.
Which scheme provides accident insurance of ₹2 lakh at
nominal premium?
A. PMJJBY
B. PMSBY
C. APY
D. PMJDY
✅ Answer: B
Q740.
Which scheme provides life insurance cover of ₹2 lakh?
A. PMSBY
B. PMJJBY
C. PMFBY
D. APY
✅ Answer: B
Q741.
Which scheme provides guaranteed pension after 60 years?
A. PMJDY
B. PMSBY
C. APY
D. PMFBY
✅ Answer: C
Q742.
Which scheme provides overdraft facility to Jan Dhan account
holders?
A. PMJDY
B. PMMY
C. APY
D. PMFBY
✅ Answer: A
Q743.
Maximum overdraft under PMJDY is:
A. ₹5,000
B. ₹10,000
C. ₹15,000
D. ₹20,000
✅ Answer: B
Q744.
Which scheme focuses on collateral-free loans to micro
enterprises?
A. PMJDY
B. PMMY
C. PMFBY
D. APY
✅ Answer: B
Q745.
Which category under PMMY covers loans up to ₹50,000?
A. Shishu
B. Kishor
C. Tarun
D. Nano
✅ Answer: A
Q746.
Which scheme aims to provide skill training to youth?
A. PMJDY
B. PMKVY
C. PMMY
D. PMFBY
✅ Answer: B
Q747.
Which scheme provides employment guarantee in rural areas?
A. PMJDY
B. PMMY
C. MGNREGA
D. NRLM
✅ Answer: C
Q748.
MGNREGA guarantees minimum employment of:
A. 50 days
B. 75 days
C. 100 days
D. 150 days
✅ Answer: C
Q749.
Which scheme focuses on livelihood promotion in urban areas?
A. NRLM
B. PMJDY
C. DAY-NULM
D. PMFBY
✅ Answer: C
Q750.
Which mission focuses on rural livelihood?
A. PMJDY
B. NRLM
C. PMMY
D. PMFBY
✅ Answer: B
Q751.
Which scheme provides credit guarantee to MSMEs?
A. PMMY
B. CGTMSE
C. PMJDY
D. APY
✅ Answer: B
Q752.
CGTMSE is jointly set up by Government of India and:
A. RBI
B. NABARD
C. SIDBI
D. SEBI
✅ Answer: C
Q753.
Which initiative promotes startups and innovation?
A. Skill India
B. Digital India
C. Startup India
D. Make in India
✅ Answer: C
Q754.
Which scheme supports SC/ST and women entrepreneurs?
A. PMMY
B. Stand-Up India
C. PMJDY
D. APY
✅ Answer: B
Q755.
Which scheme provides loans from ₹10 lakh to ₹1 crore?
A. PMMY
B. Stand-Up India
C. PMJDY
D. PMFBY
✅ Answer: B
Q756.
Which mission focuses on doubling farmers’ income?
A. PMFBY
B. PM-KISAN
C. National Mission on Sustainable Agriculture
D. PMMY
✅ Answer: C
Q757.
Which scheme provides income support of ₹6,000 per year to
farmers?
A. PMFBY
B. PMJDY
C. PM-KISAN
D. APY
✅ Answer: C
Q758.
Which scheme provides health insurance of ₹5 lakh per
family?
A. PMJJBY
B. PMSBY
C. Ayushman Bharat
D. PMFBY
✅ Answer: C
Q759.
Which authority implements Ayushman Bharat – PMJAY?
A. RBI
B. NABARD
C. National Health Authority
D. IRDAI
✅ Answer: C
Q760.
Which scheme focuses on wellness and primary healthcare?
A. PMJAY
B. Health and Wellness Centres
C. CGHS
D. ESIC
✅ Answer: B
Q761.
Which scheme focuses on nutrition and maternal health?
A. POSHAN Abhiyaan
B. PMFBY
C. PMJDY
D. APY
✅ Answer: A
Q762.
POSHAN Abhiyaan aims to reduce:
A. Poverty
B. Malnutrition
C. Illiteracy
D. Unemployment
✅ Answer: B
Q763.
Which scheme supports senior citizens’ income security?
A. APY
B. SCSS
C. PMJDY
D. PMSBY
✅ Answer: B
Q764.
Which scheme provides savings option for senior citizens?
A. SCSS
B. PMJDY
C. PMFBY
D. APY
✅ Answer: A
Q765.
Which scheme provides interest payout quarterly to senior
citizens?
A. PMJDY
B. SCSS
C. PMMY
D. APY
✅ Answer: B
Q766.
Which scheme provides financial support to MSMEs during
stress?
A. CGTMSE
B. ECLGS
C. PMMY
D. PMJDY
✅ Answer: B
Q767.
ECLGS stands for:
A. Emergency Credit Line Guarantee Scheme
B. Extended Credit Loan Guarantee Scheme
C. Export Credit Line Guarantee Scheme
D. Emergency Credit Lending Support
✅ Answer: A
Q768.
Which institution provides guarantee under ECLGS?
A. RBI
B. SIDBI
C. NCGTC
D. NABARD
✅ Answer: C
Q769.
NCGTC stands for:
A. National Credit Guarantee Trustee Company
B. National Corporate Guarantee Trust Company
C. New Credit Guarantee Trust Corporation
D. National Credit Growth Trustee Corporation
✅ Answer: A
Q770.
Which scheme was introduced during COVID-19 to support
MSMEs?
A. PMMY
B. ECLGS
C. PMJDY
D. CGTMSE
✅ Answer: B
Q771.
Which initiative aims at promoting self-reliant India?
A. Make in India
B. Atmanirbhar Bharat
C. Startup India
D. Digital India
✅ Answer: B
Q772.
Atmanirbhar Bharat focuses on:
A. Import dependence
B. Export subsidies
C. Self-reliance
D. Foreign investment only
✅ Answer: C
Q773.
Which package was announced under Atmanirbhar Bharat to
support economy?
A. ₹5 lakh crore
B. ₹10 lakh crore
C. ₹15 lakh crore
D. ₹20 lakh crore
✅ Answer: D
Q774.
Which scheme supports MSMEs for technology upgradation?
A. PMMY
B. CGTMSE
C. CLCSS
D. PMJDY
✅ Answer: C
Q775.
CLCSS stands for:
A. Credit Linked Capital Subsidy Scheme
B. Central Loan Capital Support Scheme
C. Credit Lending Capital Support Scheme
D. Corporate Loan Capital Subsidy Scheme
✅ Answer: A
Q776.
Which mission focuses on renewable energy?
A. National Solar Mission
B. PMFBY
C. PMJDY
D. PMMY
✅ Answer: A
Q777.
Which scheme promotes electric mobility?
A. AMRUT
B. FAME
C. PMAY
D. PMFBY
✅ Answer: B
Q778.
FAME stands for:
A. Faster Adoption and Manufacturing of Electric Vehicles
B. Financial Assistance for Mobility Enhancement
C. Fast Adoption of Modern Energy
D. Future Automotive Mobility Enhancement
✅ Answer: A
Q779.
Which scheme promotes rooftop solar power?
A. PMFBY
B. National Solar Mission
C. PMJDY
D. PMMY
✅ Answer: B
Q780.
Which mission aims at sustainable development goals (SDGs)?
A. PMJDY
B. National Solar Mission
C. NITI Aayog coordination
D. PMFBY
✅ Answer: C
Q781.
Which act governs negotiable instruments in India?
A. Contract Act
B. Banking Regulation Act
C. Negotiable Instruments Act, 1881
D. RBI Act
✅ Answer: C
Q782.
A cheque is defined under which section of NI Act?
A. Section 4
B. Section 5
C. Section 6
D. Section 138
✅ Answer: C
Q783.
A promissory note payable on demand must be presented
within:
A. 24 hours
B. 48 hours
C. Reasonable time
D. 3 months
✅ Answer: C
Q784.
Who is primarily liable on a bill of exchange?
A. Drawer
B. Drawee
C. Acceptor
D. Payee
✅ Answer: C
Q785.
Which instrument does NOT require acceptance?
A. Bill of exchange
B. Promissory note
C. Cheque
D. Usance bill
✅ Answer: C
Q786.
Material alteration without consent makes instrument:
A. Void
B. Voidable
C. Invalid only for drawer
D. Enforceable
✅ Answer: A
Q787.
Crossing of cheque is governed under:
A. Section 123–131 NI Act
B. Section 6 NI Act
C. Section 10 NI Act
D. Section 138 NI Act
✅ Answer: A
Q788.
Which crossing restricts payment to a particular banker?
A. General crossing
B. Account payee crossing
C. Special crossing
D. Not negotiable crossing
✅ Answer: C
Q789.
Account payee crossing is:
A. Statutory
B. Mandatory
C. Not defined in NI Act
D. Illegal
✅ Answer: C
Q790.
A cheque crossed “Not Negotiable”:
A. Cannot be transferred
B. Loses negotiability completely
C. Restricts title of transferee
D. Becomes invalid
✅ Answer: C
Q791.
A bearer cheque crossed generally is payable:
A. Across the counter
B. Through banker only
C. To drawer only
D. To payee only
✅ Answer: B
Q792.
Who can cross a cheque?
A. Drawer only
B. Holder only
C. Drawer or holder
D. Banker
✅ Answer: C
Q793.
Who can add “Not Negotiable” crossing?
A. Drawer only
B. Holder only
C. Drawer or holder
D. Banker
✅ Answer: C
Q794.
Protection to paying banker for crossed cheque is available
under:
A. Section 85
B. Section 89
C. Section 128
D. Section 131
✅ Answer: C
Q795.
A cheque payable to “X or bearer” is:
A. Order cheque
B. Bearer cheque
C. Invalid cheque
D. Crossed cheque
✅ Answer: B
Q796.
A cheque without words “bearer” or “order” is treated as:
A. Bearer cheque
B. Order cheque
C. Invalid cheque
D. Post-dated cheque
✅ Answer: B
Q797.
A stale cheque means cheque presented after:
A. 1 month
B. 2 months
C. 3 months
D. 6 months
✅ Answer: C
Q798.
A post-dated cheque is payable:
A. On issue date
B. On presentation
C. On the date mentioned
D. After 3 days
✅ Answer: C
Q799.
Which endorsement transfers instrument without liability?
A. Blank endorsement
B. Full endorsement
C. Sans recourse endorsement
D. Restrictive endorsement
✅ Answer: C
Q800.
An endorsement “Pay A only” is:
A. Blank endorsement
B. Restrictive endorsement
C. Conditional endorsement
D. Sans recourse endorsement
✅ Answer: B
Q801.
Which endorsement does NOT restrict negotiation?
A. Blank endorsement
B. Restrictive endorsement
C. Conditional endorsement
D. Sans recourse endorsement
✅ Answer: A
Q802.
Who is holder in due course?
A. Holder after maturity
B. Holder without consideration
C. Holder before maturity for value in good faith
D. Any holder
✅ Answer: C
Q803.
A minor can be a:
A. Maker of PN
B. Drawer of cheque
C. Endorser
D. Payee
✅ Answer: D
Q804.
Which instrument is not negotiable by statute?
A. Cheque
B. Bill of exchange
C. Promissory note
D. Share certificate
✅ Answer: D
Q805.
Days of grace are allowed for:
A. Cheque
B. Demand bill
C. Usance bill
D. Bearer cheque
✅ Answer: C
Q806.
Days of grace allowed are:
A. 1 day
B. 2 days
C. 3 days
D. 5 days
✅ Answer: C
Q807.
A bill payable “after sight” matures from:
A. Date of bill
B. Date of acceptance
C. Date of endorsement
D. Date of delivery
✅ Answer: B
Q808.
A cheque payable to bearer on demand can be drawn only by:
A. Any person
B. Government
C. RBI
D. Bank
✅ Answer: C
Q809.
Payment of cheque after stop payment instruction:
A. Is valid
B. Is invalid
C. Is negligence
D. Depends on amount
✅ Answer: C
Q810.
Who bears loss if cheque is paid on forged drawer’s
signature?
A. Drawer
B. Paying banker
C. Collecting banker
D. Payee
✅ Answer: B
Q811.
Protection to collecting banker is under:
A. Section 85
B. Section 89
C. Section 128
D. Section 131
✅ Answer: D
Q812.
A cheque returned due to insufficient funds attracts:
A. Civil suit only
B. Criminal liability under Sec 138
C. RBI penalty
D. Bank charges only
✅ Answer: B
Q813.
Time limit to issue notice under Sec 138 is:
A. 15 days
B. 30 days
C. 45 days
D. 60 days
✅ Answer: B
Q814.
Time limit for drawer to make payment after notice is:
A. 7 days
B. 10 days
C. 15 days
D. 30 days
✅ Answer: C
Q815.
Complaint under Sec 138 must be filed within:
A. 15 days
B. 30 days
C. 45 days
D. 60 days
✅ Answer: B
Q816.
Dishonour due to “account closed” attracts Sec 138?
A. Yes
B. No
C. Only civil
D. Only if amount > ₹10,000
✅ Answer: A
Q817.
Cheque dishonour due to signature mismatch attracts Sec 138?
A. Yes
B. No
C. Only civil liability
D. Only if repeated
✅ Answer: B
Q818.
Which is NOT a defence under Sec 138?
A. Cheque lost
B. Cheque issued as gift
C. Debt not legally enforceable
D. Notice not served
✅ Answer: A
Q819.
Maximum punishment under Sec 138 includes imprisonment up
to:
A. 6 months
B. 1 year
C. 2 years
D. 3 years
✅ Answer: C
Q820.
Fine under Sec 138 may extend to:
A. Amount of cheque
B. Twice the amount of cheque
C. ₹10,000
D. ₹1 lakh
✅ Answer: B
Q821.
Which endorsement converts order cheque into bearer?
A. Full endorsement
B. Blank endorsement
C. Restrictive endorsement
D. Conditional endorsement
✅ Answer: B
Q822.
A cheque crossed specially must be paid to:
A. Any banker
B. Drawer
C. Payee
D. Banker named
✅ Answer: D
Q823.
A cheque payable to “Self” is payable to:
A. Payee
B. Bearer
C. Drawer
D. Banker
✅ Answer: C
Q824.
Cheque truncation system deals with:
A. Physical cheques
B. Electronic images of cheques
C. Cash payments
D. Demand drafts
✅ Answer: B
Q825.
Which code is used in CTS cheques?
A. IFSC
B. MICR
C. SWIFT
D. CIF
✅ Answer: B
Q826.
Which instrument is not a negotiable instrument?
A. Cheque
B. Promissory note
C. Bill of exchange
D. Fixed deposit receipt
✅ Answer: D
Q827.
A cheque becomes inchoate when:
A. It is crossed
B. It is undated
C. It is incomplete but signed
D. It is post-dated
✅ Answer: C
Q828.
Inchoate instrument is covered under Section:
A. 6
B. 10
C. 20
D. 138
✅ Answer: C
Q829.
Which endorsement prohibits further negotiation?
A. Blank
B. Full
C. Restrictive
D. Sans recourse
✅ Answer: C
Q830.
A cheque crossed “A/c Payee” can be credited to:
A. Any account
B. Drawer’s account
C. Payee’s account only
D. Joint account
✅ Answer: C
Q831.
Who is the drawee of a cheque?
A. Drawer
B. Payee
C. Bank
D. Endorser
✅ Answer: C
Q832.
Who is the drawer of a cheque?
A. Bank
B. Payee
C. Account holder issuing cheque
D. Endorsee
✅ Answer: C
Q833.
A cheque payable to “X or order” is transferred by:
A. Delivery only
B. Endorsement only
C. Endorsement and delivery
D. Assignment
✅ Answer: C
Q834.
A bearer cheque is negotiated by:
A. Endorsement only
B. Delivery only
C. Endorsement and delivery
D. Assignment
✅ Answer: B
Q835.
Who can endorse a negotiable instrument?
A. Drawer only
B. Holder only
C. Payee only
D. Banker
✅ Answer: B
Q836.
Endorsement must be:
A. Oral
B. On separate paper
C. In writing on instrument
D. Not signed
✅ Answer: C
Q837.
Which endorsement does not specify endorsee?
A. Full endorsement
B. Restrictive endorsement
C. Blank endorsement
D. Conditional endorsement
✅ Answer: C
Q838.
Which endorsement restricts payment to a particular person?
A. Blank
B. Full
C. Restrictive
D. Sans recourse
✅ Answer: C
Q839.
Conditional endorsement makes payment:
A. Absolute
B. Unconditional
C. Subject to condition
D. Invalid
✅ Answer: C
Q840.
Which endorsement excludes endorser’s liability?
A. Blank endorsement
B. Full endorsement
C. Sans recourse endorsement
D. Restrictive endorsement
✅ Answer: C
Q841.
Who is liable if cheque is dishonoured?
A. Paying banker
B. Drawer
C. Collecting banker
D. RBI
✅ Answer: B
Q842.
Notice of dishonour must be given to:
A. Drawee
B. Drawer and endorsers
C. Payee only
D. Bank
✅ Answer: B
Q843.
Time for giving notice of dishonour is:
A. 7 days
B. 15 days
C. Reasonable time
D. 30 days
✅ Answer: C
Q844.
Which party is secondarily liable on a bill?
A. Acceptor
B. Drawer
C. Drawee
D. Maker
✅ Answer: B
Q845.
Which of the following is NOT a material alteration?
A. Change in date
B. Change in amount
C. Change in payee name
D. Crossing of cheque
✅ Answer: D
Q846.
A cheque payable to bearer but crossed generally is payable:
A. In cash
B. Across the counter
C. Through banker only
D. To drawer
✅ Answer: C
Q847.
Which crossing ensures credit only to payee’s account?
A. General crossing
B. Special crossing
C. Account payee crossing
D. Not negotiable crossing
✅ Answer: C
Q848.
Which crossing restricts title of transferee?
A. General crossing
B. Special crossing
C. Account payee crossing
D. Not negotiable crossing
✅ Answer: D
Q849.
Who can cancel a crossing?
A. Drawer only
B. Payee only
C. Holder only
D. Banker
✅ Answer: A
Q850.
Cancellation of crossing requires:
A. Signature of banker
B. Signature of drawer
C. Signature of payee
D. Court order
✅ Answer: B
Q851.
A cheque marked “Account Payee” but uncrossed is:
A. Invalid
B. Bearer cheque
C. Order cheque
D. Valid order cheque
✅ Answer: D
Q852.
Who bears loss if cheque is paid on forged endorsement but
genuine drawer’s signature?
A. Drawer
B. Paying banker
C. Collecting banker
D. Payee
✅ Answer: B
Q853.
A banker paying cheque in due course is protected under:
A. Section 10
B. Section 85
C. Section 131
D. Section 138
✅ Answer: B
Q854.
Collecting banker’s statutory protection is under:
A. Section 85
B. Section 89
C. Section 128
D. Section 131
✅ Answer: D
Q855.
Which section deals with cheque dishonour offence?
A. Section 131
B. Section 87
C. Section 138
D. Section 123
✅ Answer: C
Q856.
Dishonour due to “stop payment” attracts Sec 138?
A. No
B. Yes
C. Only civil
D. Only criminal
✅ Answer: B
Q857.
Which of the following does NOT attract Sec 138?
A. Insufficient funds
B. Account closed
C. Signature differs
D. Stop payment
✅ Answer: C
Q858.
Which is essential for Sec 138 applicability?
A. Cheque must be issued for legally enforceable debt
B. Cheque amount must exceed ₹10,000
C. Cheque must be crossed
D. Cheque must be post-dated
✅ Answer: A
Q859.
Time limit for filing complaint after cause of action arises
is:
A. 15 days
B. 30 days
C. 45 days
D. 60 days
✅ Answer: B
Q860.
Which instrument evidences debt acknowledgment?
A. Cheque
B. Promissory note
C. Bill of exchange
D. Hundis
✅ Answer: B
Q861.
A promissory note is defined under:
A. Section 4 NI Act
B. Section 5 NI Act
C. Section 6 NI Act
D. Section 138 NI Act
✅ Answer: A
Q862.
A bill of exchange is defined under:
A. Section 4
B. Section 5
C. Section 6
D. Section 10
✅ Answer: B
Q863.
Who is the maker of a promissory note?
A. Drawer
B. Drawee
C. Promisor
D. Payee
✅ Answer: C
Q864.
Who accepts a bill of exchange?
A. Drawer
B. Payee
C. Drawee
D. Endorser
✅ Answer: C
Q865.
Acceptance of bill signifies:
A. Agreement to pay
B. Transfer of ownership
C. Endorsement
D. Negotiation
✅ Answer: A
Q866.
A bill payable on demand does NOT allow:
A. Endorsement
B. Negotiation
C. Days of grace
D. Acceptance
✅ Answer: C
Q867.
Which instrument is payable on demand?
A. Usance bill
B. Promissory note payable after date
C. Cheque
D. Time bill
✅ Answer: C
Q868.
A cheque becomes stale after:
A. 2 months
B. 3 months
C. 6 months
D. 1 year
✅ Answer: B
Q869.
Who can be a holder in due course?
A. Minor
B. Insolvent
C. Any person capable of contracting
D. Any person
✅ Answer: C
Q870.
Which instrument is payable after a fixed period?
A. Demand draft
B. Cheque
C. Usance bill
D. Bearer cheque
✅ Answer: C
Q871.
Who is liable first in case of dishonour of cheque?
A. Banker
B. Payee
C. Drawer
D. Endorser
✅ Answer: C
Q872.
Notice under Sec 138 must be issued within:
A. 15 days of dishonour
B. 30 days of dishonour
C. 45 days of dishonour
D. 60 days of dishonour
✅ Answer: B
Q873.
Payment made after notice but within 15 days:
A. Does not save drawer
B. Saves drawer from prosecution
C. Increases penalty
D. Is invalid
✅ Answer: B
Q874.
Which offence is compoundable?
A. Theft
B. Cheque dishonour under Sec 138
C. Murder
D. Fraud
✅ Answer: B
Q875.
Which court has jurisdiction under Sec 138?
A. Where drawer resides
B. Where cheque was issued
C. Where cheque is dishonoured
D. As per amended Act – place of payee bank
✅ Answer: D
Q876.
Cheque dishonour case is tried as:
A. Civil case
B. Criminal case
C. Revenue case
D. Arbitration
✅ Answer: B
Q877.
Which endorsement transfers rights but prohibits further
transfer?
A. Blank endorsement
B. Full endorsement
C. Restrictive endorsement
D. Sans recourse endorsement
✅ Answer: C
Q878.
Which endorsement passes ownership but not liability?
A. Conditional endorsement
B. Sans recourse endorsement
C. Restrictive endorsement
D. Blank endorsement
✅ Answer: B
Q879.
Cheque dishonour for “payment stopped” is treated as:
A. No offence
B. Civil wrong only
C. Offence under Sec 138
D. RBI violation
✅ Answer: C
Q880.
Which party can give “stop payment” instruction?
A. Banker
B. Payee
C. Drawer
D. Endorser
✅ Answer: C
Q881.
Which of the following constitutes a valid consideration
under NI Act?
A. Past consideration only
B. Present consideration only
C. Future consideration only
D. Past, present or future consideration
✅ Answer: D
Q882.
A negotiable instrument obtained by fraud gives the holder:
A. No title
B. Defective title
C. Perfect title always
D. Conditional title
✅ Answer: B
Q883.
A holder in due course acquires the instrument:
A. Subject to defects in title
B. With better title than transferor
C. With same title as transferor
D. Without title
✅ Answer: B
Q884.
Which presumption is NOT applicable under NI Act?
A. Presumption of consideration
B. Presumption of date
C. Presumption of endorsement
D. Presumption of insolvency
✅ Answer: D
Q885.
Negotiability of an instrument means:
A. Free transferability
B. Payment in goods
C. Limited transferability
D. Non-transferability
✅ Answer: A
Q886.
Which is NOT an essential feature of negotiable instrument?
A. Freely transferable
B. Payable to bearer or order
C. Payable in money
D. Registration compulsory
✅ Answer: D
Q887.
A promissory note must be:
A. Oral
B. In writing and signed
C. Conditional
D. Payable in goods
✅ Answer: B
Q888.
Which of the following cannot be a maker of promissory note?
A. Individual
B. Company
C. Minor
D. Government
✅ Answer: C
Q889.
A bill of exchange requires acceptance except when:
A. Payable on demand
B. Payable after date
C. Payable after sight
D. Payable on a fixed date
✅ Answer: A
Q890.
Who can negotiate a negotiable instrument?
A. Drawer only
B. Holder only
C. Banker only
D. Payee only
✅ Answer: B
Q891.
Negotiation of order instrument requires:
A. Delivery only
B. Endorsement only
C. Endorsement and delivery
D. Assignment
✅ Answer: C
Q892.
Negotiation of bearer instrument requires:
A. Endorsement only
B. Delivery only
C. Endorsement and delivery
D. Registration
✅ Answer: B
Q893.
Which endorsement is made when endorser signs without
specifying endorsee?
A. Full endorsement
B. Restrictive endorsement
C. Blank endorsement
D. Conditional endorsement
✅ Answer: C
Q894.
Which endorsement prohibits further negotiation?
A. Blank endorsement
B. Full endorsement
C. Restrictive endorsement
D. Conditional endorsement
✅ Answer: C
Q895.
Which endorsement relieves endorser from liability?
A. Blank endorsement
B. Full endorsement
C. Restrictive endorsement
D. Sans recourse endorsement
✅ Answer: D
Q896.
Which endorsement makes payment subject to a condition?
A. Blank endorsement
B. Full endorsement
C. Conditional endorsement
D. Restrictive endorsement
✅ Answer: C
Q897.
Material alteration includes:
A. Change in date
B. Change in amount
C. Change in place of payment
D. All of the above
✅ Answer: D
Q898.
Crossing of cheque can be done by:
A. Drawer only
B. Holder only
C. Drawer or holder
D. Banker only
✅ Answer: C
Q899.
Which crossing restricts payment to a particular banker?
A. General crossing
B. Special crossing
C. Account payee crossing
D. Not negotiable crossing
✅ Answer: B
Q900.
Which crossing restricts negotiability?
A. General crossing
B. Special crossing
C. Account payee crossing
D. Not negotiable crossing
✅ Answer: D
Q901.
Protection to paying banker for crossed cheque is provided
under:
A. Section 85
B. Section 89
C. Section 128
D. Section 131
✅ Answer: C
Q902.
Protection to collecting banker is provided under:
A. Section 85
B. Section 89
C. Section 128
D. Section 131
✅ Answer: D
Q903.
A banker paying cheque in due course is protected under:
A. Section 10
B. Section 85
C. Section 131
D. Section 138
✅ Answer: B
Q904.
A cheque returned unpaid due to “funds insufficient”
attracts:
A. Civil liability only
B. Criminal liability
C. RBI penalty
D. Bank charges only
✅ Answer: B
Q905.
Time limit for issuing notice under Sec 138 is:
A. 15 days
B. 30 days
C. 45 days
D. 60 days
✅ Answer: B
Q906.
Time allowed to drawer for payment after receipt of notice
is:
A. 7 days
B. 10 days
C. 15 days
D. 30 days
✅ Answer: C
Q907.
Complaint under Sec 138 must be filed within:
A. 15 days
B. 30 days
C. 45 days
D. 60 days
✅ Answer: B
Q908.
Which of the following does NOT attract Sec 138?
A. Insufficient funds
B. Account closed
C. Stop payment
D. Signature mismatch
✅ Answer: D
Q909.
Cheque dishonour offence is:
A. Civil offence
B. Criminal offence
C. Compoundable offence
D. Both B and C
✅ Answer: D
Q910.
Maximum imprisonment under Sec 138 is:
A. 6 months
B. 1 year
C. 2 years
D. 3 years
✅ Answer: C
Q911.
Maximum fine under Sec 138 may extend to:
A. Amount of cheque
B. Double the amount of cheque
C. ₹1 lakh
D. ₹10,000
✅ Answer: B
Q912.
Who has the right to give stop payment instruction?
A. Banker
B. Payee
C. Drawer
D. Endorser
✅ Answer: C
Q913.
Payment made after stop payment instruction amounts to:
A. Valid payment
B. Negligence of banker
C. Protection to banker
D. No liability
✅ Answer: B
Q914.
A cheque payable to bearer on demand can be issued only by:
A. Any person
B. RBI
C. Government
D. Any bank
✅ Answer: B
Q915.
A cheque without signature is:
A. Valid
B. Invalid
C. Bearer cheque
D. Order cheque
✅ Answer: B
Q916.
Which instrument requires stamping?
A. Cheque
B. Promissory note
C. Bill of exchange
D. Both B and C
✅ Answer: D
Q917.
Which instrument does not require stamping?
A. Promissory note
B. Bill of exchange
C. Cheque
D. Hundis
✅ Answer: C
Q918.
A stale cheque means cheque presented after:
A. 2 months
B. 3 months
C. 6 months
D. 1 year
✅ Answer: B
Q919.
Which instrument is payable on demand?
A. Usance bill
B. Time bill
C. Cheque
D. Promissory note after date
✅ Answer: C
Q920.
Days of grace are allowed in:
A. Cheque
B. Demand bill
C. Usance bill
D. Bearer cheque
✅ Answer: C
Q921.
Days of grace allowed are:
A. 1
B. 2
C. 3
D. 5
✅ Answer: C
Q922.
A bill payable “after sight” matures from:
A. Date of bill
B. Date of acceptance
C. Date of endorsement
D. Date of delivery
✅ Answer: B
Q923.
A cheque payable to “self” is payable to:
A. Payee
B. Bearer
C. Drawer
D. Banker
✅ Answer: C
Q924.
Who can be a holder in due course?
A. Minor
B. Insolvent
C. Any person capable of contracting
D. Any person
✅ Answer: C
Q925.
Which instrument evidences acknowledgement of debt?
A. Cheque
B. Promissory note
C. Bill of exchange
D. Draft
✅ Answer: B
Q926.
Negotiable instrument must be payable:
A. In goods
B. In services
C. In money
D. In kind
✅ Answer: C
Q927.
Which instrument is NOT negotiable?
A. Cheque
B. Bill of exchange
C. Promissory note
D. Share certificate
✅ Answer: D
Q928.
A cheque becomes inchoate when:
A. It is crossed
B. It is undated
C. It is incomplete but signed
D. It is post-dated
✅ Answer: C
Q929.
Inchoate instruments are covered under Section:
A. 6
B. 10
C. 20
D. 138
✅ Answer: C
Q930.
Which endorsement prohibits further transfer of instrument?
A. Blank endorsement
B. Full endorsement
C. Restrictive endorsement
D. Sans recourse endorsement
✅ Answer: C