Practice Banking security market insurance - indian economy mcq Online Quiz (set-1) For All Competitive Exams
Q-1) In which of the following years India switched over to decimal currencies?
(a)
(b)
(c)
(d)
India switched over to decimal currency in 1957 with the amendment of the Indian Coinage Act. The rupee remained unchanged in value and nomenclature. It, however, was now divided into 100 ‘Paisa’ instead of 16 Annas.
Q-2) RBI’s first census of India’s foreign Assets & Liability as on 30 June 1948 revealed total foreign business investments of Rs. 302 cr, out of it what was the % of British investments in India?
(a)
(b)
(c)
(d)
72% was British investment in India, when RBI first census of India’s foreign Assets & Liabilites as on 30 June 1948 revealed total business investment of Rs.302 crore.
Q-3) The country’s first Aadhaar based ATM is launched by which one of the following banks?
(a)
(b)
(c)
(d)
DCB Bank, launched a “card-less and PIN-less” ATM in Bengaluru, in June, 2017. The ATM accepts Aadhaar number and Aadhaar fingerprint (biometric) instead of ATM / debit card and PIN to dispense cash from the bank account.
Q-4) Paper currency first started in India in
(a)
(b)
(c)
(d)
Q-5) India Brand Equity Fund was established in
(a)
(b)
(c)
(d)
Q-6) Which of the following is /are example (s) of ‘Near Money’? - Treasury Bill
- Credit Card
- Saving accounts and small time deposits
- Retail money market mutual funds
Select the correct answer using the code given below:
(a)
(b)
(c)
(d)
Near Money is a term used in economics to describe highly liquid assets that can easily be converted into cash.
Q-7) Arrange the following in ascending order, in relation to their establishment.- LIC
- IDBI
- SEBI
- UTI
Choose the correct answer from the codes given below.
(a)
(b)
(c)
(d)
Q-8) On which date is the establishment of State Bank of India celebrated?
(a)
(b)
(c)
(d)
1 st July is celebrated as the establishment date of the State Bank of India. On 1 July 1955, the Imperial Bank of India became the State Bank of India.
SBI is a multinational banking and financial services company based in India. It is a government-owned corporation with its headquarters in Mumbai.
SBI : Indian Multinational public sector banking and financial services company.
Chairperson : Rajnish Kumar.
Q-9) Debenture holders of a company are the
(a)
(b)
(c)
(d)
Q-10) According to the Reserve Bank of India’s guidelines to banks, customers can change up to 20 pieces of soiled currency notes over the counter, free of charge up to a maximum value of
(a)
(b)
(c)
(d)
According to the RBI’s guidelines to banks, a person can change up to 20 pieces of notes with a maximum value of Rs.5000 per day, banks should exchange them over the counter, free of charge.
Q-11) Consider the following statements in regard to ‘RESIDEX’:
- The index is prepared to track the prices of residential properties in India on the basis of actual transaction prices.
- The index is prepared from the secondary data available from various sources like housing, finance companies and banks.
Which of the statements given above is/are correct?
(a)
(b)
(c)
(d)
At present, the index is being developed only for the residential housing sector. However, at a later stage, the index could be expanded to develop separate indices for commercial property and land.
Primary data on housing prices is being collected from real estate agents by commissioning the services of private consultancy/research organisations of national repute.
In addition, data on housing prices is also being collected from the housing finance companies and banks, which is based on housing loans contracted by these institutions.
Q-12) Note-issuing department of RBI should always possess the minimum gold stock of worth—
(a)
(b)
(c)
(d)
Q-13) A cheque which has been written by the maker and dated at some point in the past is known as
(a)
(b)
(c)
(d)
In banking, antedated refers to cheques which have been written by the drawer, and dated at some point in the past.
Q-14) Which of the following will not be the part of ‘financial inclusion’? - Opening educational centres
- Opening wealth management centres by citibank.
- Eradication of poverty.
- Report of Khan commission on financial inclusion.
Select the correct answer using the codes given below:
(a)
(b)
(c)
(d)
Financial inclusion is the delivery of financial services, at affordable costs, to sections of disadvantaged and low income segments of society.It includes opening educational centres, opening wealth management centres by Citibank etc. Khan commission had put forward its report on financial inclusion.
Q-15) Yes Bank has announced mobilisation of USD 5 billion towards its commitment to climate finance in India by 2020. The Bank’s committed target for funding clean energy is
(a)
(b)
(c)
(d)
YES BANK, a leader in the climate finance space in the country, investing and raising capital towards mitigation, adaptation and resilience. This bank has the target funding of 5,000 MW of clean energy by 2020.
Q-16) Who appoints a banking ombudsman?
(a)
(b)
(c)
(d)
The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services.
Q-17) In India, which of the following has the highest share in the disbursement of credit to agriculture and allied activities?
(a)
(b)
(c)
(d)
In India, commercial banks have the highest share in the disbursement of credit to agriculture and allied activities.
The commercial banks disburse around 60% credit followed by cooperative banks around 30%.
Q-18) Money laundering normally involves
(a)
(b)
(c)
(d)
Money laundering occurs in three steps:
- the first step involves introducing cash into the financial system by some means called placement;
- the second involves carrying out complex financial transactions to camouflage the illegal source called layering, and
- the final step entails acquiring wealth generated from the transactions of the illicit funds called integration.
Money Laundering - It is the process of transforming the profits of crime and corruption into ostensibly legitimate assets.
Q-19) A currency note which is wholly or partly washed, shrunk, altered or indecipherable is known as a
(a)
(b)
(c)
(d)
Imperfect banknote means any banknote, which is wholly or partially, obliterated, shrunk, washed, altered or indecipherable but does not include a mutilated banknote.
Q-20) Which of the following does not grant any tax rebate?
(a)
(b)
(c)
(d)
Indira Vikas Patra was a small scale deposit scheme operated by the post offices all over the country to encourage the idea of investment in the minds of the lower-middle class people. NSC, National Saving Scheme and PPF all grant tax rebate.