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) Directors
(b) Creditors
(c) Debtors
(d) Shareholders
The correct answers to the above question in:
Answer: (b)
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Question : 1
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 : 2
A third-party administrator (TPA) is an organisation associated with the claim settlement process in the
a) Commodity market
b) Insurance industry
c) Exchange markets
d) Mutual fund industry
Answer »Answer: (b)
A Third Party Administrator (TPA) is an Insurance Regulatory Development Authority (IRDA) registered company or an organization that processes insurance claims on behalf of insurance companies.
Question : 3
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) 72 %
b) 60 %
c) 51 %
d) 91 %
Answer »Answer: (a)
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.
Question : 4
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 : 5
In which of the following years India switched over to decimal currencies?
a) 1957
b) 1956
c) 1955
d) 1960
Answer »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.
Question : 6
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.
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