Banking Awareness Questions - 25th August 2014 by Gandhi Raveendra Reddy

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Here I am sharing some banking questions which are important for bank exams.
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Banking Awareness Questions - 25th August 2014

191. Clayton's Rule applies to:
Answer: appropriation of payments.

192. Vostro account means :
Answer: Foreign Bank's A/c with us.

193. RFC ale can be opened by:
Answer: home returned NRls.

194. Guarantees covering series of transactions :
Answer: Continuing Guarantees.

195. Buyer takes possession of goods and enjoys as Sole Owner of goods although price of goods not fully paid : Answer: Hire Purchase.

196. As per Sec. 26 NI Act, Minor may draw, endorse, deliver, Negotiable Instrument so as to bind all parties except himself :
Answer: True.

197. Mr. A, a current A/c holder executed a power of attorney in favour of Mr. B to operate Current Deposit A/c. Mr. A's death notice is served on the Banker. A cheque duly signed by Mr. B. is received for payment the Bank has to:
Answer: Dishonour the Cheque.

198. Mr B opened an account on 12.04.09, got issued cheque book on 17.04.09. A cheque dated 10.04.09 is presented for payment, what will be the fate of the cheque:
Answer: The Cheque will be paid if otherwise in order.

199. Contract of Insurance is an :
Answer: indemnity contract.

200. Bailment is defined in :
Answer: Indian Contract Act Sec. 148.

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