Audit of Banks – Test 2

Which of the following is not type of bank

_____________________ are the most wide spread banking in India

Main functions of Commercial banks are

The functioning of banking industry in India is regulated by the _____________________

______________________ acts as Central Bank of India

Important functions of RBI are

No bank can commence business of banking or open new branches without obtaining license from

Which of the following are principal enactments which govern the functioning of various types of
banks

Which of the following section of the banking Regulation Act, 1949 deal with from and content of
financial statements of banking company

Auditor of nationalized bank is appointed by

Auditor of the State Bank of India is appointed by

The Auditors of Subsidiaries of SBI are to be appointed by

The auditor of regional rural banks is appointed by

The matters which the banks require their auditors to deal with in the Long Form Audit Report is to
be specified by

The LFAR is to be submitted before ______________________ every year

Advance comprises of funded amounts by way of

In case of banking companies, Accounts showing stress signals are classified as

In case of banking companies, Accounts overdue between 31 to 60 days, are classified as

In case of banking companies, Accounts overdue between 31 to 60 days, are classified as

NPA Loans of Banking Companies are classifies as

Assets which does not disclose any problem and does not carry more than normal risk attached to
the business, are classifies as

Assets which has been classifies as NPA for a period not exceeding 12 months, are classified as

Assets which has been classifies as NPA for a period exceeding 12 months, are classified as

Asset in respect of which loss has been identified by the bank or internal auditor/ external auditor
or the RBI inspection, but the amount has not been written off, wholly or partly, is classified as

Which of the following is not classified as NPA

Erosion in the value of security can be reckoned as significant when the realizable value of the
security is less than ______________ % of the value assessed by the bank or accepted by RBI at the time
of last inspection, as the case may be

In case of classification of advance as standard assets, provision is required by the bank

In case of classification of commercial real estate advance, as standard assets provision is required
by the bank

In case of classification of advance as sub-standard assets, provision is required by the bank for
secured portion

In case of classification of advance as sub-standard assets, provision is required by the bank for
unsecured portion