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
(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
The correct answers to the above question in:
Answer: (b)
Currency Note Press (CNP), Nasik, Maharashtra was established in 1928. It was the first printing press for banknotes in India.
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Question : 1
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 : 2
Why is the offering of ‘teaser loans’ by commercial banks a cause of economic concern?
- The teaser loans are considered to be an aspect of sub-prime lending and banks may be exposed to the risk of defaulters in future.
- In India, teaser loans are mostly given to inexperienced entrepreneurs to set up manufacturing or export units.
a) Both 1 and 2
b) 2 only
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (c)
Teaser loans are considered an aspect of subprime lending, as they are usually offered to low-income home buyers.
Unfortunately, these borrowers with increased monthly payments, at times can’t afford.
Question : 3
Consider the following statements:
- National Payments Corporation of India (NPCI) helps in promoting the financial inclusion in the country.
- NPCI has launched RuPay, a card payment scheme.
a) Both 1 and 2
b) 2 only
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (a)
NPCI is a not-for-profit company formed by various banks, with the primary objective of providing cost-effective payment solutions to the banks.
NPCI’s solutions such as IMPS, BHIM, RuPay, AEPS etc. have indeed helped in financial inclusion. So first is correct and second is correct- NPCI launched Rupay card in 2012, as the 7th payment gateway in the world.
Question : 4
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 : 5
‘Basel III’ norms target at which of the following?
- 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
Answer »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.
Question : 6
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.
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