money supply, banking & financial institutions section 5 MCQ Questions & Answers Detailed Explanation

Question : 1

Which is the first Private Sector Bank in India to use Software Robotics?

a) HDFC Bank

b) UTI Bank

c) SBI

d) ICICI Bank

Question : 2

Consider the following statements:

1. Higher employment leads to higher inflation
2. Higher inflation leads to higher employment

a) (ii) only

b) Both (i) & (ii)

c) (i) only

d) Neither (i) nor (ii)

Question : 3

Consider the following statements regarding the "Banking Ombudsman Scheme":

1. Banking Ombudsman is appointed by the RBI
2. RBI management as the banking ombudsman
3. It resolves customer complaints against deficiency in certain banking services
4. It has been introduced under the Reserve Bank of India Act 1934

a) (ii) & (iii) only

b) (ii), (iii) & (iv) only

c) (i) & (iii) only

d) (i) & (iv) only

Question : 4

Consider the following.

1. Industrial Finance Corporation of India (IFCI)
2. Industrial Credit and Investment Corporation of India (ICICI)
3. Industrial Development Bank of India (IDBI)
4. Unit Trust of India (UTI)

a) 1, 3, 2, 4

b) 1, 4, 3, 2

c) 4, 3, 2, 1

d) 1, 2, 3, 4

Question : 5

Consider the following statements regarding the “Gold Monetization Scheme”:

1. It will help in the mobilization of gold held by households and institutions
2. It will facilitate the use of gold for productive purpose
3. It will help in reducing the import of gold and the Current Account Deficit (CAD)
4. Banks will be allowed to lend this gold to jewellers

a) (i), (ii) & (iii) only

b) (ii) & (iv) only

c) (i) & (iii) only

d) All of the above

Question : 6

Which one of the following statements is correct with reference of FEMA in India?

a) FERA was given a sunset clause of one year till 31st May, 2002 to enable enforcement directorate to complete the investigation of pending issues

b) As per the new dispensation, enforcement directorate can arrest and prosecute the people for the violation of foreign exchange rule

c) Under FEMA, violation of foreign exchange rules has ceased to be a criminal offence

d) The Foreign Exchange Management Act (FEMA) in the year 2001