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Q:

What are the types of accounts in banks? 

Answer:



Q:

In which year SBI was Nationalised ?

A) 1995 B) 1955
C) 1980 D) 1969
 
Answer & Explanation Answer: B) 1955

Explanation:

The nationalisation of banks in India took place in 1969 by Mrs. Indira Gandhi the then prime minister. It nationalised 14 banks then. These banks were mostly owned by businessmen and even managed by them. Before the steps of nationalisation of Indian banks, only State Bank of India (SBI) was nationalised. It took place in July 1955 under the SBI Act of 1955.

Nationalisation of Seven State Banks of India (formed subsidiary) took place on 19th July, 1960.

1955 : Nationalisation of State Bank of India.
1969 : Nationalisation of 14 major banks.
1980 : Nationalisation of seven banks with deposits over 200 crores.

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Filed Under: Bank Interview - Accounting and Finance
Exam Prep: Bank Exams , CAT
Job Role: Bank Clerk , Bank PO

1 0
Q:

NPA in banking terminology implies ______.

A) Net Performing Assets B) New Performing Assets
C) Non-Performing Assets D) New Pension Act
 
Answer & Explanation Answer: C) Non-Performing Assets

Explanation:
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4 26
Q:

RBI controls the commercial banks through

A) Calling for returns and other information B) Periodic inspection of banks
C) Follow up action D) All of the above
 
Answer & Explanation Answer: D) All of the above

Explanation:
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Q:

What is the minimum period of time for which one can open an FD(Fixed Deposit) account ? 

A) 15 days B) 6 months
C) 7 days D) 1 year
 
Answer & Explanation Answer: C) 7 days

Explanation:
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5 50
Q:

What does Earned Income Tax Credit (EITC) means ?

Answer

The United States Federal Earned Income Tax Credit (EITC) is a refundable tax credit, that helps low and medium - income individuals and couples, primarily for those who have qualifying children. 

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