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
- 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
The correct answers to the above question in:
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.
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Question : 1
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 : 2
The main functioning of the banking system is to
a) provide credit and subsidies
b) accept deposits and subsidies
c) accept deposits and provide credit
d) accept deposits, provide credit and subsidies
Answer »Answer: (c)
The main functioning of the banking system is to accept deposits and provide credit. The bank collects deposits from the public.
These are savings, fixed, current and recurring deposits. The bank advances loans to the business community and other members of the public.
The types of bank loans and advances are overdraft, cash credits, loans and discounting of bills of exchange.
Question : 3
Which of the following terms is not associated with banking?
a) IFSC
b) MICR
c) CTS
d) FERA
Answer »Answer: (d)
CTS: Cheque Truncation System Cheque,
MICR: Magnetic Ink Character Recognition,
IFSC: Indian Financial System Code
FERA: Foreign Exchange Regulation Act.
Question : 4
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 : 5
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 : 6
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.
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