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) All of the above
(b) Commodity Market
(c) Money Market
(d) Share Market
The correct answers to the above question in:
Answer: (d)
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Question : 1
The apex organisation of industrial finance in India is—
a) ICICI
b) RBI
c) IDBI
d) IFCI
Answer »Answer: (c)
IDBI Bank is an Indian government-owned financial service company, formerly known as Industrial Development Bank of India, headquartered in Mumbai, India.
IFCI: (Industrial finance corporation of India): It is an Indian government-owned development bank to cater to the long term financial needs of industrial sectors.
ICICI: It is an Indian multinational banking & financial services company headquartered in Mumbai.
Question : 2
A currency note which is wholly or partly washed, shrunk, altered or indecipherable is known as a
a) Obliterated banknote
b) Soiled banknote
c) Forged banknote
d) Imperfect banknote
Answer »Answer: (d)
Imperfect banknote means any banknote, which is wholly or partially, obliterated, shrunk, washed, altered or indecipherable but does not include a mutilated banknote.
Question : 3
SEBI is a
a) Non-statutory Body
b) Advisory Body
c) Constitutional Body
d) Statutory Body
Answer »Answer: (d)
Question : 4
Which one of the following does not implement the Self – Help Groups (SHGs) - Bank Linkage programme?
a) RRBs
b) Commercial Banks
c) NABARD
d) Co- operative Banks
Answer »Answer: (c)
The Self-Help Group-Bank Linkage Programme (SBLP), which was started as a pilot programme in 1992 on the basis of the recommendation of the S K Kalia Committee.
Commercial banks, co-operative banks and the regional rural banks have been actively participating in the SBLP. NABARD does not implement the SBLP.
Question : 5
Under flexible exchange rate system, the exchange rate is determined
a) as a weighted index of a group of currencies
b) by the Central Bank
c) predominantly by market mechanism
d) by the World Trade Organization
Answer »Answer: (c)
A flexible exchange rate system is a kind of a monetary system which allows the exchange rate to be regulated by supply and demand in relation to other currencies.
Question : 6
Money laundering normally involves
a) integration of funds
b) layering of funds
c) placement of funds
d) all the above
Answer »Answer: (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.
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