banking, security market & insurance section 2 MCQ Questions & Answers Detailed Explanation

Answer: (b)

ICICI Bank has tied up with railway’s e-ticketing platform IRCTC to sell rail tickets through its website.

Answer: (d)

ICICI, the first Indian bank has launched “Smart Vault” a fully automated locker facility using robotic technology to access lockers (available 24x7, including weekends and after banking hours.) from state vault.

Answer: (c)

According to Section 2 of the Coinage Act, 2011, a “Coin” does not include the credit card, debit card, postal order and money issued by any bank, post office or financial institution.

Answer: (b)

In 1991, India faced a serious balance of payment crisis and was forced to sharply devalue its currency. The country was in the grip of high inflation, low growth and the foreign reserves were not even worth meeting three weeks of imports.

Under these situations, the currency was devalued to 17.90 against the dollar. In July of 1991, the Indian Government devalued the rupees by between 18 and 19%. The Government also changed its trade policy higher restrictive to a system of tradable EXIM SCRIPS.

Answer: (a)

National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India.

It was established on 12 July 1982 in the sixth five-year plan and its main focus was to uplift rural India by increasing the credit flow for elevation of agriculture and rural non-farm sector and laying down policies and to oversee the operations of the RRBs.

Moreover, Regional Rural Banks grant direct loans and advances to marginal farmers and rural artisans. So both statements are correct.

Answer: (d)