banking, security market & insurance section 4 MCQ Questions & Answers Detailed Explanation

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The following question based on Banking, Security Market & Insurance topic of indian economy mcq

Questions : SBI Life Insurance Limited is a joint venture life insurance company of State Bank of India (SBI) and

(a) BNP Paribas Cardiff

(b) Life Insurance Corporation of India

(c) HDFC Life Insurance Company

(d) ICICI Prudential Life Insurance Company

The correct answers to the above question in:

Answer: (a)

SBI Life Insurance is a joint venture life insurance company between State Bank of India (SBI), and BNP Paribas Cardif.

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Read more banking security market insurance Based Indian Economy Questions and Answers

Question : 1

For regulation of the Insurance Trade in the country the Government has formed

a) General Insurance Corporation

b) Reserve Bank of India

c) Insurance Regulatory and Development Authority

d) SEBI

Answer: (c)

Question : 2

Devaluation of currency leads to

a) expansion of import substituting

b) contraction of import trade

c) expansion of export trade

d) all of the above

Answer: (d)

Devaluation leads to a country’s exports becoming less expensive as the currency is deliberately adjusted down to other currencies, making imports more expensive, making domestic consumers less likely to purchase them thus the domestic companies are encouraged to substitute imports.

Question : 3

Which of the following company is the sole reinsurance company in India?

a) National Insurance Company

b) ICICI Prudential Life Insurance Company

c) Life Insurance Corporation of India

d) General Insurance Corporation

Answer: (d)

GIC of India (GIC) is the sole reinsurance company in the Indian insurance market with over four decades of experience.

Question : 4

Which one of the following Public Sector Bank’s emblem figures a dog and the words ‘faithful friendly, in it?

a) oriental Bank of Commerce

b) Syndicate Bank

c) Punjab National Bank

d) State Bank of India

Answer: (b)

Syndicate Bank. The symbol of dog implies that Bank is trustworthy and a friend. Its slogan is : Faithful Friendly.

Question : 5

Yes Bank has announced mobilisation of USD 5 billion towards its commitment to climate finance in India by 2020. The Bank’s committed target for funding clean energy is

a) 1500 MW by 2020

b) 1500 MW annually

c) 1000 MW annually

d) 5000 MW by 2020

Answer: (d)

YES BANK, a leader in the climate finance space in the country, investing and raising capital towards mitigation, adaptation and resilience. This bank has the target funding of 5,000 MW of clean energy by 2020.

Question : 6

Which of the following statements best describes the term ‘Scheme for Sustainable Structuring of Stressed Assets (S4A)’, recently seen in the news?

a) It is a disinvestment plan of the Government regarding Central Public Sector Undertakings.

b) It is a scheme of RBI for reworking the financial structure of big corporate entities facing genuine difficulties.

c) It is a procedure for considering ecological costs of developmental schemes formulated by the Government.

d) It is an important provision in ‘The Insolvency and Bankruptcy Code’ recently implemented by the Government.

Answer: (b)

S4A is RBI’s scheme for restructuring of corporate loans, hence “B” is the most appropriate among the given options.

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