Banking & Financial Awareness Quiz: Part 23

(1). What is the maximum deposit amount insured by the DICGC(Deposit Insurance and Credit Guarantee Corporation)?
(a) Rs. 50,000
(b) Rs.1,00,000
(c) Rs. 2,00,000
(d) Rs. 5,00,000

(2). Marginal Standing Facility (MSF) was introduced in India for the first time in
(a) 2011
(b) 2012
(c) 2013
(d) 2014 

(3). Which of the following measure/measures of money supply published by RBI is also known as 'narrow money'?
(a) M1 and M2
(b) M3 and M4
(c) M1 only
(d) M4 only 

(4). Which of the following is not an example of a negotiable instrument?
(a) Promissory note
(b) Bills of exchange
(c) Demand draft
(d) All of the Above 

(5). In which type of Cheque the payment is credited to the bank account of the pay only?
(a) Order Cheque
(b) Open Cheque
(c) Crossed Cheque
(d) None of the Above

(6). ‘SBI Exclusif' is a
(a) Mobile App
(b) Wealth Management Product
(c) Loan Scheme
(d) Financial Inclusion drive in rural areas 

(7). India's 1st social luxury travel magazine is launched by MakeMyTrip. What is the name of the Magazine?
(a) Food Wine
(b) Inflight Magazine
(c) Luxury Magazine
(d) Luxury Travel Times 

(8). Recently, Johnson & Johnson has announced to buy which of the following pharma group?
(a) Actavis
(b) Actelion
(c) AbbVie
(d) Adcock Ingram 

(9). Which organisation/bank/ministry is going to organise ‘know your rights’ programme in all states of India?
(a) Banking Codes and Standards Board of India (BCSBI)
(b) SBI
(c) Finance Ministry

(10). Who is appointed as the Chairman of the Eastern India Regional Council of The Institute of Company Secretaries of India (ICSI)?
(a) Ashwini Kumar
(b) Sunita Sharma
(c) YV Reddy
(d) Siddhartha Murarka


(1). Answer Key: (b)
Each depositor in a bank is insured upto a maximum of Rs.1,00,000 (Rupees One Lakh) for both principal and interest amount held by him in the same capacity.

(2). Answer Key: (a)
As announced in the Monetary Policy for the year 2011-12, a new Marginal Standing Facility (MSF) is being introduced with effect from May 9, 2011. The Scheme is operationalized on the lines of the existing Liquidity Adjustment Facility - Repo Scheme (LAF - Repo).

(3). Answer Key: (a)
Money supply, like money demand, is a stock variable. The total stock of money in circulation among the public at a particular point of time is called money supply. RBI publishes figures for four alternative measures of money supply, viz. M1, M2, M3 and M4. M1 and M2 are known as narrow money. M3 and M4 are known as broad money.

(4). Answer Key: (d)
A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, with the payer named on the document. According to section 13 of the Negotiable Instruments Act, 1881, a negotiable instrument means “promissory note, bill of exchange, or cheque, payable either to order or to bearer”.

(5). Answer Key: (c)
Since open cheque is subject to risk of theft, it is dangerous to issue such cheques. This risk can be avoided by issuing another types of cheque called „Crossed cheque‟. The payment of such cheque is not made over the counter at the bank. It is only credited to the bank account of the payee. A cheque can be crossed by drawing two transverse parallel lines across the cheque, with or without the writing „Account payee‟ or „Not Negotiable‟.

(6). Answer Key: (b)
State Bank of India (SBI) has launched ‘SBI Exclusif,’ its wealth management offering, in Kochi. will be rolled out in other cities in the state during the course of the year.

(7). Answer Key: (d)
India's largest online travel portal MakeMyTrip has launched the first ever social luxury travel magazine called 'Luxury Travel Times'.

(8). Answer Key: (b)
US pharmaceuticals giant Johnson & Johnson has announced it was buying Europe’s biggest bio-pharmaceutical firm, Switzerland’s Actelion, for $30 billion (€27.9 billion) in a deal that creates a new spin-off company.

(9). Answer Key: (a)
To educate awareness on banking codes at grass root level, The Banking Codes and Standards Board of India (BCSBI) will organise “know your rights” programme in all the states.

(10). Answer Key: (d)
Siddhartha Murarka has been appointed as the Chairman of the Eastern India Regional Council of The Institute of Company Secretaries of India (ICSI). His term began from January 19. Murarka, a fellow member of the ICSI, was the head of risk management and compliance at a member firm of the PwC before starting his own practice.
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