banking, security market & insurance section 1 MCQ Questions & Answers Detailed Explanation

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The following question based on Banking, Security Market & Insurance topic of indian economy mcq

Questions : The country’s first Aadhaar based ATM is launched by which one of the following banks?

(a) HDFC

(b) SBI

(c) ICICI Bank

(d) DCB Bank

The correct answers to the above question in:

Answer: (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.

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Read more banking security market insurance Based Indian Economy Questions and Answers

Question : 1

Note-issuing department of RBI should always possess the minimum gold stock of worth—

a) Rs. 200 crore

b) Rs. 115 crore

c) Rs. 85 crore

d) None of these

Answer: (b)

Question : 2

Who is the new Chairman of Life Insurance Corporation of India?

a) Thomas Matthew

b) D.K. Malhotra

c) S.K. Roy

d) V.K. Sharma

Answer: (d)

V.K. Sharma is the new Chairman of Life Insurance Corporation of India.

LIC : Largest insurance company in India,

HQ : Mumbai, India

Question : 3

Bank rate means

a) Rate of Profit of banking institution

b) Interest rate charged by Scheduled Banks

c) Interest rate charged by money lenders

d) Official rate of interest charged by Central Bank

Answer: (d)

Bank rate is the rate charged by the central bank for lending funds to commercial banks.

Question : 4

IRDA regulates

a) None of the above

b) Insurance Companies

c) Retail Trade

d) Banking Companies

Answer: (b)

Question : 5

The head office of the National Bank for Agriculture and Rural Development (NABARD) located in

a) New Delhi

b) Hyderabad

c) Lucknow

d) Mumbai

Answer: (d)

The head office of the National Bank for Agriculture and Rural Development (NABARD) is located in Mumbai. It helps farmers access timely and adequate credit. Current Chairman - Dr. Harsh Kumar Bhanwala

Question : 6

SEBI is a

a) Non-statutory Body

b) Advisory Body

c) Constitutional Body

d) Statutory Body

Answer: (d)

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