Banking Awareness Quiz for NIACL AO MAINS|19th February 2019

Banking Awareness Quiz for NIACL AO MAINS

Improve your Banking with Banking quiz. Banking Quiz to help you improve your score for exams like Bank, SSC, Railway, UPSC, UPSSSC, CDS, UPTET, KVS, DSSSB and other Government exams.

Q1. SBI Act was passed in Parliament in-

(a) 1935

(b) 1949

(c) 1955

(d) 1969

(e) 1980

Q2. Generally, the minimum rate below which the banks do not lend is known as-?

(a) floor rate

(b) repo rate

(c) highest rate

(d) base rate

(e) All of the above

Q3. Which of the following banks has acquired the ‘Centurion Bank of Punjab’?

(a) ICICI Bank

(b) IDBI Bank

(c) HDFC Bank

(d) AXIS Bank

(e) SBI

Q4. What was the deposits criteria of 14 banks nationalized on 19th July 1969?

(a) Over Rs. 1000 crore

(b) Over Rs. 500 crore

(c) Over Rs. 100 crore

(d) Over Rs. 50 crore

(e) Over Rs. 200 crore

Q5. Board for Financial Supervision (BFS) constituted in 1994 by RBI to undertake consolidated supervision of

(a) commercial banks

(b) financial institutions

(c) non-banking finance companies

(d) All of the above

(e) None of the given options is true

Q6. Who is a very senior citizen under Income Tax Rules?

(a) A person who is 65 years and above

(b) A person who is 75 years and above

(c) A person who is 80 years and above

(d) A person who is 90 years and above

(e) A person who completed 100 years of age

Q7. SEBI, a regulator of the securities market in India was established in the year 1988, but was empowered with statutory Powers in the form of Act in the year-

(a) 1990

(b) 1991

(c) 1992

(d) 1993

(e) 1998

Q8. Name of premier institution that is taking care of the financial needs of importers and exporters of our country which was established in the year 1981.

(a) EXPO Bank

(b) Export-Import Bank (EXIM)

(c) Merchant Bank

(d) ECGC

(e) RBI

Q9. SMERA is an SME Rating Agency in India meant for-

(a) rating on credit worthiness of MSME

(b) rating on quality management

(c) rating on the training system

(d) rating on technology usage in (the organization)

(e) None of the given options is true

Q10. FIPB stands for-

(a) Foreign Investment Permanent Board

(b) Foreign Industrial Promotion Board

(c) Foreign Investment Promotion Board

(d) Financial Investment Promotion Board

(e) None of the given options is true

Solution

S1. Ans.(c)

Exp.SBI Act was passed in Parliament in 1955.

S2. Ans.(d)

Exp. Base rate is the minimum rate set by the Reserve Bank of India below which banks are not allowed to lend to its customers.

S3. Ans.(c)

Exp. HDFC Bank has acquired the ‘Centurion Bank of Punjab’.

S4. Ans.(d)

Exp.14 major Indian Scheduled Commercial Banks with deposits of over Rs 50 crores nationalized ‘ to serve better the needs of development of the economy in conformity with national policy objectives’.

S5. Ans.(d)

Exp. The Reserve Bank of India performs this function under the guidance of the Board for Financial Supervision (BFS). The Board was constituted in November 1994 as a committee of the Central Board of Directors of the Reserve Bank of India. Primary objective of BFS is to undertake consolidated supervision of the financial sector comprising commercial banks, financial institutions and non-banking finance companies.

S6. Ans.(c)

Exp. Any Indian resident citizen whose age is 80 years or above at any time during the respective year falls under the term very Senior Citizen under Income Tax Rules.

S7. Ans.(c)

Exp. SEBI, a regulator of securities market in India was established in the year 1988, but was empowered with statutory Powers in the form of Act in 1992.

S8. Ans.(b)

Exp. Exim Bank’s Vision has evolved from a product-centric approach with Export Credits and Export Capability Creation, to a more customer-centric approach by offering a comprehensive range of products and services to empower businesses at all stages of a company’s business cycle. Today, we develop commercially viable relationships with a target set of externally oriented companies through a comprehensive range of products and services, aimed at enhancing their internationalisation efforts. Going ahead, we aspire to utilise our leadership and expertise in Export Finance to make a lasting difference to Indian companies with global aspirations. The Bank’s Mission is to facilitate globalisation of Indian Business.

S9. Ans.(a)

Exp. SMERA Ratings Ltd is a full-service credit rating agency exclusively set up for micro, small and medium enterprises in India and has grown to rate SME, mid & large corporate.

S10. Ans.(c)

Exp. The Foreign Investment Promotion Board (FIPB) was a national agency of Government of India, with the remit to consider and recommend foreign direct investment which does not come under the automatic route.

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