Indian Banking Sector
Indian Banking Sector: Overview
This topic covers concepts such as Nationalized Banks, Cooperative Banks, Banking and Finance Terminologies, Non-Banking Financial Companies, Priority Sector Lending, Fixed Deposits, Base Rate, Payment Banks, Current Account, Savings Account, etc.
Important Questions on Indian Banking Sector
Under SARFAESI act, a large company is sanctioned credit facilities under consortium and the banks want to take action is ________.
Which of the following not the internal auditor's responsibility with regard to the corrective action on internal audit reports ?
The meaning of a scheduled bank is _______.
___________ practices are permissible under the code of Ethics to be followed by an auditor.
What is the legal relationship of bank with customer in case of safe custody of articles, if a bank branch has accepted a packet containing share certificates from one of saving bank deposit account holders ?
Who carries out the Internal check?
Which of the following is the main advantage of having an internal audit department in a company ?
Study the following documents carefully --
I. Audit Notebook.
II. Audit Programme.
III. Audit Report.
IV. Audit Files.
Which of the following sequence is correct ?
Which of the following accounting issues may cause problems while implementing accounting software in Banks?
Internal auditor of a company must be a which of the following accountant ?
The vacancy will be filled by _________, if shareholder fail to appoint or reappoint auditors of a limited company in an Annual General Meeting.
The preparation of Final Accounts, which of the following is the correct sequence of the following action required ?
I. Preparation of Trial Accounts.
II. Balancing of Accounts.
III. Preparation of Annual Financial Statements.
IV. Making Adjusting Entries.
What do you mean by granting advances on current A/c by Financial institutions?
Which among the given options is the object of the internal check?
Which of the following distributions of duties do you consider the most essential for proper control in the case of payment to supplies ?
Find out which of the following statements are correct about auditing ?
Continuous audit is useful because,
I. More detailed checking is possible.
II. Audit can be completed quite quickly.
III. Figures in the accounts cannot be altered as the auditor visits several times during the year.
IV. Internal check can be done away with.
Which of the following situation Tax audit under Section of the Income- Tax Act, , is required ?
Which of the following is/are true ?
A statutory auditor of a public limited company claims that he has the following legal right in relation to his duties,
I. Right to make statement in the general meeting.
II. Right of access to books of accounts and registers.
III. Right to seek explanation from directors.
IV. Minutes Book for the shareholder's meeting and officers.
V. Right to refuse to make a report.
What is meant by Auditing ?
