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

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.

Answer: (c)

Reserve Bank has established a Fund to be called the Depositor Education and Awareness Fund (DEAF) referred to in Section 26A of the Act.

Answer: (c)

Devaluation happens in countries with a fixed exchange rate. In a fixed-rate economy, the government decides what its currency should be worth compared with that of other countries.

The exchange rate can change only when the government decides to change it. If a government decides to make its currency less valuable, the change is called devaluation. Depreciation happens in countries with a floating exchange rate.

A floating exchange rate means that the global investment market determines the value of a country’s currency.

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: (b)

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

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.