Banking Awareness Quiz With Explanation: Part 19

(1). Which Organisation/Ministry is the Custodian of Foreign Reserves in India?
(a) Finance Ministry
(b) Foreign Ministry
(c) Reserve Bank of India(RBI)
(d) None is Correct



(2). Who was the First Deputy Governor of Reserve Bank of India (RBI)?
(a) Osborne Smith
(b) HO Hume
(c) Lord Canning
(d) James B.Taylor


(3). Which organisation/ministry is the nodal agency to provide licenses to e-commerce companies?
(a) Finance Ministry
(b) Corporate Ministry
(c) Reserve Bank of India(RBI)
(d) Department of Industrial Policy and Promotion (DIPP)


(4). National Investment and Infrastructure Fund(NIIF) is recently established by the Union Government. It is an Alternate investment Fund (AIF) of
(a) category I
(b) category II
(c) category III
(d) category IV


(5). Which of the following test(in Banking) is a measure to prove that the jewellery was handed over from the past generation?
(a) Heredity Test
(b) Ancestral Test
(c) Heirloom Test
(d) All of the Above


(6). The applicable interest rate per annum for Kisan Credit Cards is 9%, for a maximum credit limit of
(a) Rs. 1 lakh
(b) Rs. 2 lakh
(c) Rs. 3 lakh
(d) Rs. 4 lakh


(7). Which Organisation/Government is the administrator of Financial Inclusion Fund (FIF)?
(a) Reserve Bank of India(RBI)
(b) NABARD
(c) Union Government of India
(d) Particular Government of the related State


(8). A reverse mortgage is a special kind of home loan for
(a) Government Employees without any security.
(b) Senior Citizens
(c) Beneficiaries under Below Poverty Line Criteria.
(d) All of the Above

(9). ‘Open Market Operations’ is related to which of the following organisation?
(a) Reserve Bank of India(RBI)
(b) SEBI
(c) Department of Investment and Public Asset Management(DIPAM)
(d) None is Correct


(10). What is 'B' stands for in "CIBIL"(related to credit ratings)?
(a) Bureau
(b) Base
(c) Bank
(d) Benchmark

EXPLANATION:

(1). Answer Key: (c)
RBI has the power of custodian regarding foreign exchange. RBI maintain the record of all transactions done in foreign exchange , also keep an eye on CAD (Current Account Deficit).

(2). Answer Key: (a)
First Governor of Reserve Bank of India (RBI) – Osborne Smith
First Deputy Governor of Reserve Bank of India (RBI) – James B.Taylor

(3). Answer Key: (d)
Department of Industrial Policy and Promotion (DIPP) is the nodal agency to provide licenses to e-commerce companies.

(4). Answer Key: (b)
NIIF is established by the Union government as a category II Alternate investment Fund (AIF).

(5). Answer Key: (c)
It is a measure to prove that the jewellery was handed over from the past generation.

(6). Answer Key: (c)
Kisan Credit Card interest rates, as well as credit limits, varies from bank to bank. Generally, the applicable interest rate per annum for Kisan Credit Cards is 9%, for a maximum Rs. 3 Lakh as a credit limit.

(7). Answer Key: (c)
NABARD maintains the funds of FIF. GOI administers the FIF.

(8). Answer Key: (b)
A reverse mortgage is a special kind of home loan for senior citizens who are above the age of 60. This type of loan does not need any payments on a monthly basis but still the people who opt for such a loan have to take care of property taxes and homeowner's insurance. Reverse mortgage loans help senior citizens to defer or postpone payment of the home loan till their death or when they sell or move out just because they have accessed the home equity that has been built up in their houses.

(9). Answer Key: (a)
The buying & selling of government securities by the RBI directly in the open market is known as ‘Open Market Operations’. During inflation, the securities are sold in the market by the central bank. While in the deflation period, the RBI buys the bills from the market & pays cash to the commercial banks.

(10). Answer Key: (a)
"CIBIL" stands for 'Credit Information Bureau India Limited'. It is India's first Credit Information Company(CIC).
Smart Prep Kit for Banking Exams by Ramandeep Singh - Download here

Join 40,000+ readers and get free notes in your email

0 comments:

Post a Comment

Thanks for commenting. It's very difficult to answer every query here, it's better to post your query on IBPSToday.com