Banking Questions related to Guarantee,ombudsman and LC
Banking Ombudsman is meant for safe gaurding customer against bank frauds, bad behaviour and other bank related problems.
Bank Guarantee and Letter and credit are the tools to provide way of non Fund based finance to business entities so that they can run their business smoothly.
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Below given are a few questions that constitute the post for your reference.
1. Letter of Credit is issued for ________ transactions
A) Indigenous purposes
B) Foreign Purposes
C) Either A or B
D) Both A and B
E) None Of these
2. Which of the following is a Non Fund Based Loan?
A) Bank Guarantee and Letter of Credit
B) Loan Against Deposits
C) Loans against Gold
D) Loans against Mortgages
E) None Of these
3. Banking Ombudsmen can pronounce a maximum penalty upto?
A) 1 Lacs
B) 5 lacs
C) 10 lacs
D) 25 lacs
E) None of these
4. If in case you are not satisfied with the judgment given by the Banking Ombudsmen what you can do?
A) You can appeal the banking ombudsmen to revisit your matter
B) You can take help of court or Dispute Tribunals.
C) You can settle the matter out of Banking Ombudsmen
D) You can ask the bank directly to see your matter
E) None of these
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