money supply, banking & financial institutions section 9 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
- Gorewal Committee recommendation led to the establishment of State Bank of India.
- 14 banks were nationalised on July 19, 1969.
(a) Only 2
(b) Neither 1 nor 2
(c) Both 1 and 2
(d) Only 1
The correct answers to the above question in:
Answer: (c)
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Read more money and supply banking financial institutions Based Indian Economy Questions and Answers
Question : 1
Which of the following markets are independently regulated by Forward Market Commission?
a) Mutual Funds
b) Stock Market
c) Commodity Futures Market
d) Foreign Exchange Markets
Answer »Answer: (c)
Question : 2
The "Consumer Confidence Survey" in India is conducted by which of the following:
a) National Statistical Office (NSO)
b) Department of Consumer Affairs
c) Reserve Bank of India
d) Ministry of Labour & Employment
Answer »Answer: (c)
The Reserve Bank has been conducting Consumer Confidence Survey (CCS) since June 2010.
The survey captures qualitative responses on questions pertaining to economic conditions, household circumstances, income, spending, prices and employment prospects.
The survey results are based on the views of the respondents and are not necessarily shared by the Reserve Bank of India. It is conducted in 6 rounds in a year.
Question : 3
Which of the following could be a cause of demand inflation?
a) An increase in the cost of labour
b) An increase in the level of consumer spending
c) An increase in domestic interest rates
d) An increase in import prices, resulting from a depreciating dollar
Answer »Answer: (b)
Question : 4
Which one of the following is not the function of Regional Rural Banks?
a) To provide credit to common people in rural area
b) To take over the functions of Agricultural Refinance Corporation of India
c) To supplement Scheduled Commercial Banks
d) To provide credit to small and marginal farmers
Answer »Answer: (b)
Question : 5
What is the purpose of setting up of Small Finance Banks (SFBs) in India?
- To supply credit to small business units
- To supply credit to small and marginal farmers
- To encourage young entrepreneurs to set up business particularly in rural areas.
a) (ii) & (iii) only
b) (i) & (iii) only
c) (i) & (ii) only
d) (i), (ii) & (iii)
Answer »Answer: (c)
The objectives of setting up small finance banks are
- to promote financial inclusion by providing provision of savings vehicles and supply of credit to small business units;
- small and marginal farmers; micro and small industries; and other unorganized sector entities, through high technology-low cost operations.
- They are required to extend 75% of their loans to priority sectors and 50% of their loan portfolio shall constitute loans of up to 25 lacs.
The scope of activities for small finance banks will be,
Basic banking activities of acceptance of deposits and lending to unserved and underserved sections including small business units, small and marginal farmers, micro and small industries and unorganized sector entities and there will not be any restriction in the area of operations.
They will be required to maintain CRR and SLR. They will be set up as differentiated banks for serving niche interests
Small Finance Banks are not particularly for rural areas.
RBI released guidelines for 'on-tap' licensing of Small Finance Banks. Urban Cooperative Banks and Payment Banks can apply for conversion into SFB.
‘On-tap’ means any time they can apply for conversion into SFB and they don’t need to wait for a time window when RBI will grant licenses.
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