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) Axis Bank Ltd.
(b) ICICI Bank
(c) State Bank of India
(d) Punjab National Bank
The correct answers to the above question in:
Answer: (b)
ICICI Bank has tied up with railway’s e-ticketing platform IRCTC to sell rail tickets through its website.
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Question : 1
The first Indian Bank to introduce ‘Smart Vault’, a fully automated locker facility using robotic technology to access lockers from the stafe vault is
a) HDFC Bank
b) Federal Bank
c) IDBI Bank
d) ICICI Bank
Answer »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.
Question : 2
Section 2 of ‘The Coinage Act, 2011’ clarifies that the term ‘Coin’ does ‘not’ include
a) Government of India One Rupee Note
b) Commemorative coin issued by Reserve Bank of India
c) Postal order or ‘p-money’ issued by any bank or post office
d) Coins made of any other material stamped by Government
Answer »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.
Question : 3
NABARD was established in the
a) Sixth Five Year Plan
b) Fifth Five Year Plan
c) Fourth Five Year Plan
d) Eighth Five Year Plan
Answer »Answer: (a)
It was established on 12 July 1982 in the sixth five-year plan by a special act by the parliament and its main focus was to uplift rural India by increasing the credit flow for elevation of agriculture & rural non-farm sector.
Question : 4
Which of the following public sector banks is the first bank to offer wealth management service?
a) State Bank of India
b) Bank of Baroda
c) Bank of India
d) Canara Bank
e) Other than those given as options
Answer »Answer: (a)
State Bank of India became the first public sector lender to launch wealth management service, a space dominated by private and foreign players, to cater to fast-growing affluent segment of the country.
Question : 5
In which year the Indian rupee was devalued two times within a month?
a) 1994
b) 1991
c) 1990
d) 1999
Answer »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.
Question : 6
Consider the following statements :
- Regional Rural Banks grant direct loans and advances to marginal farmers and rural artisans.
- NABARD is responsible for laying down policies and overseeing the operations of the RRBs.
a) Both 1 and 2
b) 2 only
c) 1 only
d) Neither 1 nor 2
Answer »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.
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