banking, security market & insurance section 4 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) expansion of import substituting
(b) contraction of import trade
(c) expansion of export trade
(d) all of the above
The correct answers to the above question in:
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.
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Question : 1
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 »Answer: (d)
GIC of India (GIC) is the sole reinsurance company in the Indian insurance market with over four decades of experience.
Question : 2
In the context of Indian economy, open market operations to :
- borrowing by scheduled banks from RBI
- lending by commercial banks to industry and trade
- purchase and sale of government securities by the RBI
- None of the above
a) 4 and 1 only
b) 3 only
c) 1 and 2 only
d) 2 and 3 only
Answer »Answer: (b)
Open market operation: When RBI buys/sells securities in open market, in case of OMO, first party permanently sells the Government security to second party. Second party is free to do whatever it wants with that security.
Question : 3
Private Sector Mutual Funds in India were permitted in
a) 2001
b) 1993
c) 1994
d) 1964
Answer »Answer: (b)
Question : 4
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 »Answer: (c)
Question : 5
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
Answer »Answer: (a)
SBI Life Insurance is a joint venture life insurance company between State Bank of India (SBI), and BNP Paribas Cardif.
Question : 6
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 »Answer: (b)
Syndicate Bank. The symbol of dog implies that Bank is trustworthy and a friend. Its slogan is : Faithful Friendly.
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