money supply, banking & financial institutions section 9 Practice Questions Answers Test with Solutions & More Shortcuts
Money Supply, Banking and Financial Institutions PRACTICE TEST [12 - EXERCISES]
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Question : 1
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.
Question : 2 [UPPCS (Mains) 2005]
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 : 3 [UPPCS (Mains) 2004]
Consider the following statements.
- 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
Answer »Answer: (c)
Question : 5
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.
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Money Supply, Banking and Financial Institutions Shortcuts »
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indian economy MCQ CATEGORIES
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» Introduction to Indian Economy
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» Planning, Economic Development & Five year Plans
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» National Income & Human Development Index
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» Agriculture Sector, Subsidy and Food Processing
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» Industries, Manufacturing & Service Sectors
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» Inclusive growth, Sustainable development and employment
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» Poverty & Unemployment
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» Introduction to Micro Economics
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» Introduction to Macro Economics
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» Macro fundamentals, GDP, Investment, Growth
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» Demand & Supply, Profit Loss, Inflation & Price Index
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» Fiscal Policy, Public Finance and Monetary Policy
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» Money Supply, Banking and Financial Institutions
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» Taxes Types, Methods & Budgeting Process
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» Banking, Security Market & Insurance
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