Practice Set 5 online quiz - indian economy mcq Online Quiz (set-1) For All Competitive Exams
Q-1) 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-2) The recently launched ‘UPI’ is expected to make sending money easy. The letter ‘I’ in the abbreviation ‘UPI’ stands for
(a)
(b)
(c)
(d)
A Unified Payment Interface (UPI) is a single window mobile payment system launched by the National Payments Corporation of India (NPCI). The letter “I” in the abbreviation UPI stands for interface.
Q-3) The ‘Gilt edge’ market deals in
(a)
(b)
(c)
(d)
Q-4) The baseline ‘Aapka bhala, Sabki bhali’ is associated with
(a)
(b)
(c)
(d)
The baseline “Aapka bhala, Sabki bhalai” is associated with Bandhan Bank limited.
Q-5) Which of the following activities can lead to financial inclusion in India?
- Issuing of general-purpose credit cards.
- Strict know your customer (KYC) norms
- Opening of Bank branches in unbanked rural areas.
- Opening of no-frills account.
Select the correct answer using the codes given below :
(a)
(b)
(c)
(d)
Financial inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society.
For financial inclusion ‘Know your customer (KYC) norms should be relaxed and no-frills account should be opened for low-income segments which are looking for basic banking only.
Along with general-purpose credit cards should be issued and bank branches should be opened in unbanked rural areas.
Q-6) The microfinance institutions (MFI) registered as Non-Banking Finance Companies (NBFC) are presently regulated by
(a)
(b)
(c)
(d)
Microfinance Institutions (MFIs) regulated by the Reserve Bank of India (RBI).
Q-7) ‘MobiKwik’ is the name of a
(a)
(b)
(c)
(d)
MobiKwik is an Indian company founded in 2009 that provides a mobile phone based payment system and digital wallet.
Q-8) SMERA Limited, a popular body in the financial world, is a full service
(a)
(b)
(c)
(d)
SMERA Ratings Limited is a full service Credit Rating Agency, registered with SEBI, and accredited by RBI as an External Credit Assessment Institution, for Bank Loan Ratings under BASEL-II norms.
Q-9) An increase in CRR by the Reserve Bank of India results in
(a)
(b)
(c)
(d)
The Cash Reserve Ratio is the amount of funds that the banks are bound to keep with the Reserve bank of India as a portion of their Net Demand and Time Liabilities (NDTL).
When RBI increases the CRR, fewer funds are available with banks as they have to keep larger portions of their cash in hand with RBI. This means that banks will now have less money to play with.
This resulted in a reduction in liquidity in the economy.
Q-10) The value of money varies
(a)
(b)
(c)
(d)
The variation in the value of money is always accompanied by the opposite variation in the price of commodities and services.
In brief, the value of money varies inversely with the price level. It is reciprocal of the price level.
Vm =1/p
(where Vm denotes the value of money and p stands for price level).