banking, security market & insurance section 2 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
- Improve the banking sector’s ability to absorb shocks arising from financial and economic stress.
- Improve risk management and governance.
- Strengthen banks’ transparency.
(a) 1 and 3 only
(b) 1 and 2 only
(c) 1 only
(d) 1, 2 and 3
The correct answers to the above question in:
Answer: (d)
Basel III is basically a regulatory accord designed specifically for the banking sector. It aims to improve the supervision, regulation and risk management within the sector. It also targets at strengthening the transparency of the banks.
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Question : 1
Which of the following is /are example (s) of ‘Near Money’?
- Treasury Bill
- Credit Card
- Saving accounts and small time deposits
- Retail money market mutual funds
a) 1, 2 and 3
b) 2 only
c) 1 only
d) 1, 3 and 4
Answer »Answer: (d)
Near Money is a term used in economics to describe highly liquid assets that can easily be converted into cash.
Question : 2
Which of the following was established in 1928 as the first printing press for bank notes in India?
a) Bharatiya Reserve Bank Notes Mudran Private Limited (BRBNMPL), Mysore
b) Currency Notes Press (CNP), Nasik
c) Indian Security Press (ISP), Nasik
d) Bharatiya Reserve Bank Notes Mudran Private Limited (BRBNMPL), Salboni
Answer »Answer: (b)
Currency Note Press (CNP), Nasik, Maharashtra was established in 1928. It was the first printing press for banknotes in India.
Question : 3
Which one of the following is different from the others from the point of view of ownership?
a) Debenture of a company
b) Bank Fixed Deposit
c) Kisan Vikas Patra
d) LIC Policy
Answer »Answer: (a)
Question : 4
A cheque which has been written by the maker and dated at some point in the past is known as
a) Pre-paid cheque
b) Post-dated cheque
c) Out-of-date cheque
d) Antedated cheque
Answer »Answer: (d)
In banking, antedated refers to cheques which have been written by the drawer, and dated at some point in the past.
Question : 5
According to the Reserve Bank of India’s guidelines to banks, customers can change up to 20 pieces of soiled currency notes over the counter, free of charge up to a maximum value of
a) Rs.25,000
b) Rs.5,000
c) Rs.28,000
d) Rs.15,000
Answer »Answer: (b)
According to the RBI’s guidelines to banks, a person can change up to 20 pieces of notes with a maximum value of Rs.5000 per day, banks should exchange them over the counter, free of charge.
Question : 6
The one rupee note bears the signature of the
a) Finance Minister
b) Governor, RBI
c) Secretary, Ministry of Finance
d) None of these
Answer »Answer: (c)
The one rupee note is issued by the Ministry of Finance and it bears the signature of the Finance Secretary, while other notes bear the signature of Governor RBI.
However, only RBI is the only source of legal tender money because the distribution of one rupee notes and coins and small coins all over the country is undertaken by the Reserve Bank as an agent of the Government.
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