money supply, banking & financial institutions section 4 MCQ Questions & Answers Detailed Explanation
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The following question based on Money Supply, Banking and Financial Institutions topic of indian economy mcq
- Resident Indians and NRI's both can open
- Only Foreign currency can be deposited
- Rupee can be deposited
- Can have both demand and time deposits
(a) (ii) only
(b) (ii) & (iv) only
(c) (i) & (ii) only
(d) (i), (ii) & (iv) only
The correct answers to the above question in:
Answer: (a)
Foreign Currency Non-Resident (FCNR) Account can be opened only by NRI's/PIO's.
This account can be maintained in any freely convertible foreign currency but only in the form of term/fixed deposits. The interest and principal are non-taxable and freely repatriable.
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Read more money and supply banking financial institutions Based Indian Economy Questions and Answers
Question : 1
Consider the following statement:
- Ad hoc treasury bills are sold to the banks and public and are freely marketable.
- Regular treasury bills are not sold to the banks and the general public and are not marketable.
a) 2 only
b) 1 only
c) 1 and 2
d) None of the Above
Answer »Answer: (d)
Ad hoc treasury bills are not sold to the banks and the general public and are not marketable while regular treasury bills are sold by the Reserve Bank of India on behalf of the Central Government.
Question : 2
Which among the following is correct about the Vostro Account?
a) It is an account maintained by a foreign bank with a Bank in India in Indian Rupees.
b) It is an account maintained by a Indian Bank Branch with a Foreign Bank in Foreign Currency.
c) It is an account maintained by an Indian bank with a Bank in Foreign country in Foreign Currency.
d) It is an account maintained by a Foreign Bank Branch with a Indian Bank in Foreign Currency.
Answer »Answer: (a)
Question : 3
Which one of the following is not an instrument of selective credit control in India?
a) Rationing of credit
b) Variable cost reserve ratios
c) Margin requirements
d) Regulation of consumer credit
Answer »Answer: (b)
Question : 4
Increase in India's trade deficit may lead to which of the following:
a) Depreciation of rupee
b) Appreciation of rupee
c) Increase in money supply in the economy
d) Increase in GDP
Answer »Answer: (a)
When trade deficit increases that means imports are increasing in the country as compared to exports.
Increase in imports causes an increase in demand for dollars which results in decline in value of Indian currency. Increase in trade deficit results in money going out of the Indian economy.
Question : 5
Indian Currency Printing Institutions are located in which of the following places?
- Nasik
- Hoshangabad
- Hyderabad
- Aurangabad
- Devas
a) 1, 2, 3 and 4
b) 1, 2 and 4
c) 1, 2, 3 and 5
d) All of the above
Answer »Answer: (c)
Question : 6
Which category of banks have the highest share in agricultural credit:
a) Regional Rural banks
b) Cooperative Banks
c) Commercial Banks (excluding regional rural banks)
d) Non-Banking Financial Companies
Answer »Answer: (c)
Share of Commercial banks credit to agriculture sector is around 80%.
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