Q1. PSLCs are tradable certificates issued against priority sector loans of banks. What does meaning of "Cs" in PSLCs?
(a) Cess
(b) Cities
(c) Census
(d) Certificates
(e) None of the above
Q2. The Banking Ombudsman Scheme is introduced under Section 35A of the Banking Regulation Act, 1949 by RBI with effect from -
(a) 1995
(b) 1999
(c) 1990
(d) 1982
(e) 1988
Q3. MTSS is a way of transferring personal remittances from abroad to beneficiaries in India. What does MTSS stand for-
(a) Mobile Transfer Service Scheme
(b) Money Transfer System Scheme
(c) Money Timing Service Scheme
(d) Market Transfer Service Scheme
(e) Money Transfer Service Scheme
Q4. How much cash can payment be made to the beneficiary in India under MTSS?
(a) Rs 2, 00,000
(b) Rs 50,000
(c) Rs 1, 00,000
(d) Rs 10,000
(e) None of the above
Q5. RDA is a channel to receive cross-border remittances from overseas jurisdictions. What does meaning of "A" in RDA?
(a) Account
(b) Assembly
(c) Arrangement
(d) Association
(e) Amount
Q6. NABARD was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on-
(a) 12th July 1982
(b) 01st January 1949
(c) 19th July 1980
(d) 15th April 1969
(e) 05th November 1982
Q7. The mission of NABARD is Promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institution development and other innovative initiatives. What is meaning of "R" IN NABARD?
(a) Regional
(b) Rural
(c) Reconstruction
(d) Revised
(e) Remittance
Q8. SAT is a statutory body established under the provisions of Section 15K of the Securities and Exchange Board of India (SEBI) Act, 1992. SAT stands for-
(a) Securities Appellate Tribunal
(b) Securities Appellate Treaty
(c) Securities Association Tribunal
(d) Saving Appellate Tribunal
(e) None of the given options is true
Q9. The Securities and Exchange Board of India (SEBI) was established on-
(a) 12th April 1999
(b) 12th April 1992
(c) 12th April 1949
(d) 12th April 1990
(e) 12th April 1995
Q10. NABARD was set up with an initial capital of-
(a) Rs 200 crore
(b) Rs 1500 crore
(c) Rs 500 crore
(d) Rs 100 crore
(e) Rs 1000 crore
Q11. At present many public sector banks and one private sector bank are authorised to handle the Senior Citizens Savings Scheme (SCSS), 2004. Name the private sector bank, which is authorised to handle the Senior Citizens Savings Scheme (SCSS), 2004?
(a) ICICI bank
(b) HDFC Bank
(c) Axis Bank
(d) Yes Bank
(e) Kotak Mahindra Bank
Q12. The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises. As under a micro enterprise is an enterprise where investment in plant and machinery does not exceed..............?
(a) Rs. 100 lakh
(b) Rs. 15 lakh
(c) Rs. 25 lakh
(d) Rs. 50 lakh
(e) None of the given options is true
Q13. Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note. In which year Commercial Paper was introduced in India?
(a) 1975
(b) 1990
(c) 1985
(d) 1955
(e) 1980
Q14. Which Bank of India maintains the Principal Accounts of Central as well as State Governments at its Central Accounts Section?
(a) IDBI
(b) SBI
(c) SIDBI
(d) NABARD
(e) RBI
Q15. Who are eligible to issue Commercial Paper (CP)?
(a) Corporate
(b) Primary dealers (PDs)
(c) All-India Financial Institutions (FIs)
(d) All of the above
(e) None of the given options is true
Solutions
Sol. PSLCs stands for Priority Sector Lending Certificates.
S2. Ans.(a)
Sol. The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.
S3. Ans.(e)
Sol. Money Transfer Service Scheme (MTSS) are the most common arrangements under which the remittances are received into the country.
S4. Ans.(b)
Sol. Amounts up to INR 50,000/- may be paid in cash to a beneficiary in India under MTSS.
S5. Ans.(c)
Sol. RDA stands for Rupee Drawing Arrangement.
S6. Ans.(e)
Sol. NABARD came into existence on 12 July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC). It was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on 05 November 1982.
S7. Ans.(b)
Sol. The mission of NABARD is Promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institution development and other innovative initiatives. NABARD stands for National Bank for Agriculture and Rural Development.
S8. Ans.(a)
Sol. Securities Appellate Tribunal (SAT) is a statutory body established under the provisions of Section 15K of the Securities and Exchange Board of India Act, 1992 to hear and dispose of appeals against orders passed by the Securities and Exchange Board of India or by an adjudicating officer under the Act and to exercise jurisdiction, powers and authority conferred on the Tribunal by or under this Act or any other law for the time being in force.
S9. Ans.(b)
Sol. The Securities and Exchange Board of India (SEBI) was established on April 12, 1992 in accordance with the provisions of the Securities and Exchange Board of India Act, 1992.
S10. Ans.(d)
Sol. NABARD was set up with an initial capital of Rs.100 crore, its’ paid up capital stood at Rs. 5,000 crore as on 31st March 2016.
S11. Ans.(a)
Sol. Only ICICI Bank are authorized to handle the Senior Citizens Savings Scheme (SCSS), 2004.
S12. Ans.(c)
Sol. The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises. As under a micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs 25 lakhs.
S13. Ans.(b)
Sol. Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note. It was introduced in India in 1990.
S14. Ans.(e)
Sol. RBI has maintained the Principal Accounts of Central as well as State Governments at its Central Accounts Section.
S15. Ans.(d)
Sol. Corporate, primary dealers (PDs) and the All-India Financial Institutions (FIs) are eligible to issue Commercial Paper (CP).
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