banking, security market & insurance section 1 MCQ Questions & Answers Detailed Explanation
MOST IMPORTANT indian economy mcq - 5 EXERCISES
The following question based on Banking, Security Market & Insurance topic of indian economy mcq
(a) 1957
(b) 1956
(c) 1955
(d) 1960
The correct answers to the above question in:
Answer: (a)
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.
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Question : 1
The word “Actuaries” is related to
a) Share-market
b) Insurance
c) Banking
d) None of the above
Answer »Answer: (b)
The word ‘Actuaries’ is related to the profession of insurance. The determination of the accidents covered by Insurance policy and of the premium is done by actuaries.
Question : 2
Debenture holders of a company are the
a) Directors
b) Creditors
c) Debtors
d) Shareholders
Answer »Answer: (b)
Question : 3
The Insurance Regulatory and Development Authority was set up in India on
a) April 2003
b) April 2001
c) April 2002
d) April 2000
Answer »Answer: (d)
Question : 4
Consider the following statements in regard to ‘Marginal Standing Facility (MSF)’ of RBI :
- It will help in reducing volatility in the overnight lending rates in the inter-bank market.
- The borrowing under the MSF should be over and above the statutory liquidity requirement.
a) Both 1 and 2
b) 2 only
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (c)
Marginal Standing Facility (MSF) is the rate at which scheduled banks could borrow funds overnight from the Reserve Bank of India (RBI) against approved government securities.
Banks can borrow funds through MSF during acute cash shortages (considerable shortfall of liquidity).
This measure has been introduced by RBI to regulate short-term asset-liability mismatch more effectively and the borrowing is within Statutory liquidity requirements.
The Marginal Standing Facility (MSF) is pegged 100bps or 1 % above the Repo Rate.
Question : 5
Who among the following can join the National Pension System (NPS)?
a) All State Government employees joining the services after the date of notification by the respective State Governments
b) Persons of age from 21 to 55 only
c) Resident Indian citizens only
d) All Central Government employees including those of Armed Forces joining the services on or after 1st April, 2004
Answer »Answer: (a)
Any Indian between 18 to 55 can join NPS. So “B” is wrong.
NRIs are allowed to open NPS account as per PFRDA norms. So “C” is wrong.
NPS was compulsory for new central govt recruits (except armed forces) WEF 1/1/2004. so “D” is wrong.
Question : 6
Which of the following grants/grant direct credit assistance to rural households ?
- Regional Rural Banks
- National Bank for Agriculture and Rural Development
- Land Development Banks
a) 1 and 3 only
b) 2 only
c) 1 and 2 only
d) 1, 2 and 3 only
Answer »Answer: (a)
NABARD doesn’t give “direct” credit assistance. It provides credit via intermediaries such as micro finance companies, cooperative society, RRB. Therefore, 2 is false.
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banking, security market & insurance section 1
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