CIBIL, Fair Practices Code for Debt Collection, BCSBI: Quiz 2

CIBIL, Fair Practices Code for Debt Collection, BCSBI: Quiz 2

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1.CIBIL as Credit bureau crater to_______

(a)Consumer segments

(b) Commercial segments

(c)Both a and b

(d)None of these

Answer & Explanation
Ans:C

Exp: Consumer segments and  Commercial segments

CIBIL (Credit Information Bureau (India) Limited) is a Credit Bureau or Credit Information Company. This company is engaged in maintaining the records of all the credit-related activities of companies as well as individuals including credit cards and loans.

2.How many credit information companies are operating in the country?

(a)One

(b)Three

(c)Four

(d)Five

Answer & Explanation
Ans:C

Exp: As on date the RBI has issued authorization to 4 credit information companies to operate. A credit information company (CIC) or popularly known as credit bureau collects the credit information from bank and other lenders, prepares a credit history, compiles credit scores and thereafter provides the information on a particular proponent to the lender for a fee.

3.The ‘Bankers’ Fair Practice’ Code was brought out in June 2004 by___

(a)RBI

(b)IBA

(c)GOI

(d) Individual Bank

Answer & Explanation
Ans:C

Exp: The ‘Code of Bank’s Commitment to Customers’ was released by Dr. Y.V Reddy, the then Governor, Reserve Bank of India, in an inaugural function held at RBI on 1 July, 2006.

4.One of the following does not own 10% equity stake in the capital of CIBIL.

(a)PNB

(b)SBI

(c)HDFC

(d)Standard chartered bank

Answer & Explanation
Ans:D

Exp: Standard chartered bank

5.“Rupay” card payment network is developed by which of the following organization?

(a)RBI

(b)VISA

(c)SBI

(d)National Payment Corporation of India

Answer & Explanation
Ans:D

Exp: National Payment Corporation of India, RuPay. RuPay is a card scheme, conceived and launched by the National Payments Corporation of India (NPCI) on 26 March 2012. It was created to fulfil the Reserve Bank of India’s (RBI) vision to have a domestic, open and multilateral system of payments.

6.The Minimum maturity period of CDs is_______

(a)1 Day

(b) 7 Days

(c) 15 Days

(d) 14 Days

Answer & Explanation
Ans:B

Exp: 7 days, A Certificate of Deposit issued by the commercial banks can have maturity period ranging from 7 days to 1 year. For financial institutions, it ranges is from 1 year to 3 years. Minimum amount to be deposited is Rs. 1 Lakh.

7.In the Call/ Notice money market the following participants are allowed to trade:

(a)Only Banks

(b)Mutual funds

(c) Primary Dealers

(d) Corporates

Answer & Explanation
Ans:A

Exp: Only Banks

8.Credit information reports can be accessed by____

(a)By any bank

(b) By any Indian citizen

(c) Only those members who have provided all their data to CIBIL

(d)Both b and c

Answer & Explanation
Ans:D

Exp: By any Indian citizen

Only those members who have provided all their data to CIBIL

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