Test: Retail Banking & Wealth Management - 4 - Bank Exams MCQ

Which of the following statements are incorrect regarding the functions Management Information Systems perform in an organization?
I. Management Information Systems help businesses to increase their productivity and profitability.
II. Management Information Systems can provide real-time updates and information.
III. Management Information Systems keeps the business balanced by facilitating to take untried decisions.
IV. Management Information Systems support the planning and controlling functions in an organization.

What positive impact did MKISs have on marketing managers?

What is IDRBT?

Which of the following is the correct set of Core products about the banking sector?

Who is eligible for the Central Sector Interest Subsidy (CSIS) scheme?

7.75% GOI Savings Bond is issued for a minimum amount of __________ and in multiples of __________.

What is the maximum size of a house for the Economically Weaker Section (EWS) under PMAY(U)?

Which one of the following is a 'basic' condition to satisfy the residential status of an individual?

Discuss the returns generated in the Retail form of banking the and Corporate form of banking.

The customers of any organization drive its revenues, therefore, it is important to build up a large and targeted customer base depending on the products and/or services the organization offers. To make the customers aware of an organization's (here, banks) business and its products and services (here banking products and services), marketing is required which helps the customer in making correct buying decisions. In the context of Retail banking, marketing means- Identifying the most profitable markets now and in the future. It involves assessing the customer's present and future needs which are continuously evolving and dynamic in nature. In marketing, the banks set business development goals and make plans to meet them by going through the four stages of the Marketing process. The elements of the marketing mix for retail banking are- Product, Price, Place, Promotion, Process, People, and Physical evidence.

Q. Who has given the following definition of marketing in banking?
"The creation and delivery of customer-satisfying services at a profit to the bank":

The customers of any organization drive its revenues, therefore, it is important to build up a large and targeted customer base depending on the products and/or services the organization offers. To make the customers aware of an organization's (here, banks) business and its products and services (here banking products and services), marketing is required which helps the customer in making correct buying decisions. In the context of Retail banking, marketing means- Identifying the most profitable markets now and in the future. It involves assessing the customer's present and future needs which are continuously evolving and dynamic in nature. In marketing, the banks set business development goals and make plans to meet them by going through the four stages of the Marketing process. The elements of the marketing mix for retail banking are- Product, Price, Place, Promotion, Process, People, and Physical evidence.

Q. What does ‘price’ refer to in the marketing mix for deposit products?

The customers of any organization drive its revenues, therefore, it is important to build up a large and targeted customer base depending on the products and/or services the organization offers. To make the customers aware of an organization's (here, banks) business and its products and services (here banking products and services), marketing is required which helps the customer in making correct buying decisions. In the context of Retail banking, marketing means- Identifying the most profitable markets now and in the future. It involves assessing the customer's present and future needs which are continuously evolving and dynamic in nature. In marketing, the banks set business development goals and make plans to meet them by going through the four stages of the Marketing process. The elements of the marketing mix for retail banking are- Product, Price, Place, Promotion, Process, People, and Physical evidence.

Q. The "Marketing implementation" stage of the marketing process involves:

The banks, in addition to the core banking products like Current Accounts, Savings Deposits, etc. offer certain para-banking activities either departmentally or by setting up subsidiaries. Some such activities are insurance, Mutual funds, credit/debit cards, social security schemes, etc. But such services cannot be offered from the bank's products due to certain restrictions, rather they offer them through the relevant service providers by acting as their corporate agents. These services increase the reach and customer base of banks as it makes the banks a one-stop financial hub for all the financial demands of different customers. Also, it improves the fee-based income of the banks. For example - To avail mutual funds products through banks, the concept of Mutual banking has emerged.

Q. Which of the following types of Life insurance products is the cheapest?

The banks, in addition to the core banking products like Current Accounts, Savings Deposits, etc. offer certain para-banking activities either departmentally or by setting up subsidiaries. Some such activities are insurance, Mutual funds, credit/debit cards, social security schemes, etc. But such services cannot be offered from the bank's products due to certain restrictions, rather they offer them through the relevant service providers by acting as their corporate agents. These services increase the reach and customer base of banks as it makes the banks a one-stop financial hub for all the financial demands of different customers. Also, it improves the fee-based income of the banks. For example - To avail mutual funds products through banks, the concept of Mutual banking has emerged.

Q. What are interval funds?

What is the purpose of appointing dedicated Marketing Managers in retail banking?

Although every organization, including banks, must be vigilant in spending money. But today certain circumstances like changes in customer preferences, technological innovations, etc. are putting pressure on banks to improve their operating efficiency. The banks can achieve efficiency in their operations by limiting their expenditure in some areas and making necessary investments in technology, marketing, automation, etc., and also optimizing their legacy investments in branches and traditional systems. The opportunity for improving the operating efficiency varies across different banks and even different branches of the same bank. According to a survey, two out of three bankers acknowledged that they just rely on retaining the current customers for business development. However, the banks need to implement a proactive approach.

Q. How do NPAs impact the profitability of banks?

Although every organization, including banks, must be vigilant in spending money. But today certain circumstances like changes in customer preferences, technological innovations, etc. are putting pressure on banks to improve their operating efficiency. The banks can achieve efficiency in their operations by limiting their expenditure in some areas and making necessary investments in technology, marketing, automation, etc., and also optimizing their legacy investments in branches and traditional systems. The opportunity for improving the operating efficiency varies across different banks and even different branches of the same bank. According to a survey, two out of three bankers acknowledged that they just rely on retaining the current customers for business development. However, the banks need to implement a proactive approach.

Q. Which among the following questions specifies a proactive approach to identifying new prospect opportunities?

Which of the following statements is correct about the Market Intelligence system, as a component of MKIS?

Which among the following mobile payment technologies was introduced first?

Which among the following business model approaches is mostly adopted by the public sector banks in India?

Which of the following describes the RuPay Classic?

What has led to increased demand for financial markets and banks in India?

What is the difference between Retail banking and corporate banking?

In which among the following types of underwriting, the underwriter assumes full financial responsibility for any unsold shares?

How does recovery of loans take place in Retail and Corporate banking?

Suppose Client A hires Bank B to help them in investing their money in different areas and assets. Client A gives them the required documents and information and asks Bank B to manage their money and invest in different areas which will give them the highest possible returns with the lowest risk.

Q. The above case is an example of:

What is the difference in service delivery between new private-sector banks and public-sector banks in India?