BANKING – I – B.A. ECONOMICS
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- Question 1 of 15
1. Question
1 pointsWho is the current Governor of RBI?
CorrectShaktikanta Das, the 25th governor of RBI who succeeds Urjit Patel
IncorrectShaktikanta Das, the 25th governor of RBI who succeeds Urjit Patel
- Question 2 of 15
2. Question
1 pointsWhat was established in Kolkata on 1st April 1935 in accordance with the provision of an act of the same name passed in 1934?
CorrectRBI commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934. The original share capital was divided into shares of 100 each fully paid, which were initially owned entirely by private shareholders. Following India’s independence on 15 August 1947, the RBI was nationalised on 1 January 1949
IncorrectRBI commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934. The original share capital was divided into shares of 100 each fully paid, which were initially owned entirely by private shareholders. Following India’s independence on 15 August 1947, the RBI was nationalised on 1 January 1949
- Question 3 of 15
3. Question
1 pointsTo a bank loan is marked in the balance sheet as……………………………
CorrectLoan is an asset in the balance sheet of bank. Loan creates return to a bank. however, deposit is regarded as liability to a bank as it must pay rate of interest to depositors.
IncorrectLoan is an asset in the balance sheet of bank. Loan creates return to a bank. however, deposit is regarded as liability to a bank as it must pay rate of interest to depositors.
- Question 4 of 15
4. Question
1 pointsThe Reserve Bank of India was established on the recommendations of a report submitted in 1926 by which commission?
CorrectReserve Bank of India (RBI) started in 1926 when the Hilton-Young Commission or the Royal Commission on Indian Currency and Finance made recommendation to the British Government of India for creation of a central bank.
IncorrectReserve Bank of India (RBI) started in 1926 when the Hilton-Young Commission or the Royal Commission on Indian Currency and Finance made recommendation to the British Government of India for creation of a central bank.
- Question 5 of 15
5. Question
1 pointsWhich of the following monetary policy instruments come under liquidity adjustment facility (LAF)?
CorrectRepo rate -the rate at the which the central bank lends short-term money to banks. Reverse repo rate is the rate offered by the RBI to commercial banks when they parked their excess reserves with the RBI. Both instruments come under LAF.
IncorrectRepo rate -the rate at the which the central bank lends short-term money to banks. Reverse repo rate is the rate offered by the RBI to commercial banks when they parked their excess reserves with the RBI. Both instruments come under LAF.
- Question 6 of 15
6. Question
1 pointsWhich of the following is known as the central bank of U.S.A.?
CorrectThe Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act. the current Chairperson is Janet Yellen
IncorrectThe Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act. the current Chairperson is Janet Yellen
- Question 7 of 15
7. Question
1 pointsThe Imperial Bank of India was re-named on 30th April 1955 as what?
CorrectState Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. SBI first merged State Bank of Saurashtra with itself in 2008. Two years later, State Bank of Indore was merged with it. The latest merger of State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala (SBP), State Bank of Hyderabad (SBH) and BMB.
IncorrectState Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. SBI first merged State Bank of Saurashtra with itself in 2008. Two years later, State Bank of Indore was merged with it. The latest merger of State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala (SBP), State Bank of Hyderabad (SBH) and BMB.
- Question 8 of 15
8. Question
1 pointsWhich bank operates on behalf of the SBI in Nigeria and was established in 1981?
CorrectIndo-Nigerian Merchant Bank Limited’s pricipal activity is the provision of merchant banking services mainly to corporate clients. The Banks’s services include the granting of loans and advances, equipment leasing, corporate finance activities, financial advisory services and foreign exchange operations.
IncorrectIndo-Nigerian Merchant Bank Limited’s pricipal activity is the provision of merchant banking services mainly to corporate clients. The Banks’s services include the granting of loans and advances, equipment leasing, corporate finance activities, financial advisory services and foreign exchange operations.
- Question 9 of 15
9. Question
1 pointsWhich of the following deposit account commands higher rate of interest?
CorrectFixed deposit investors with a higher rate of interest than a regular savings account. The lowest interest to current deposit holders.
IncorrectFixed deposit investors with a higher rate of interest than a regular savings account. The lowest interest to current deposit holders.
- Question 10 of 15
10. Question
1 pointsWhich was the first foreign bank to open a branch in India?
CorrectThe Comptoir national d’escompte de Paris, formerly the Comptoir d’escompte de Paris was one of four banks that combined to form BNP Paribas. The CNEP was created by decree on 7 March 1848 by the Provisional Government of the French Second Republic.
IncorrectThe Comptoir national d’escompte de Paris, formerly the Comptoir d’escompte de Paris was one of four banks that combined to form BNP Paribas. The CNEP was created by decree on 7 March 1848 by the Provisional Government of the French Second Republic.
- Question 11 of 15
11. Question
1 pointsWhat was approved by the Banking Companies (Acquisition and Transfer of Undertaking) Bill passed on 9th August 1969?
Correct14 banks were nationalized. Bank Nationalisation Day came into existence ever since 14 banks were nationalised by the government on July 19, 1969.
Incorrect14 banks were nationalized. Bank Nationalisation Day came into existence ever since 14 banks were nationalised by the government on July 19, 1969.
- Question 12 of 15
12. Question
1 pointsDemand deposit represents ……………………. in the balance sheet of a bank.
CorrectDemand – liability part in the balance sheet as bank is responsible to pay rate of interest to the depositors and deposited amount when they ask money.
IncorrectDemand – liability part in the balance sheet as bank is responsible to pay rate of interest to the depositors and deposited amount when they ask money.
- Question 13 of 15
13. Question
1 pointsWho is the author of famous book – “An Outline of Money”?
CorrectGeoffrey Crowther, Baron Crowther was a British economist, journalist, educationalist and businessman. He was editor of The Economist from 1938 to 1956.
IncorrectGeoffrey Crowther, Baron Crowther was a British economist, journalist, educationalist and businessman. He was editor of The Economist from 1938 to 1956.
- Question 14 of 15
14. Question
1 pointsThe historic Banking Regulation Act was passed in the year of:
CorrectThe Banking Regulation Act, 1949 is a legislation in India that regulates all banking firms in India. Initially, the law was applicable only to banking companies. But, 1965 it was amended to make it applicable to cooperative banks and to introduce other changes.
IncorrectThe Banking Regulation Act, 1949 is a legislation in India that regulates all banking firms in India. Initially, the law was applicable only to banking companies. But, 1965 it was amended to make it applicable to cooperative banks and to introduce other changes.
- Question 15 of 15
15. Question
1 pointsIdentify the name of the current Chief of State Bank of India:
CorrectRajnish Kumar is the current chairman of the SBI, who replaced Arundhati Bhattacharya. She is the first woman to be the Chairman of State Bank of India. In 2016, she was listed as the 25th most powerful woman in the world by Forbes.
IncorrectRajnish Kumar is the current chairman of the SBI, who replaced Arundhati Bhattacharya. She is the first woman to be the Chairman of State Bank of India. In 2016, she was listed as the 25th most powerful woman in the world by Forbes.
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