Q1. Infrastructure Finance Company (IFC) is a non-banking finance company has a minimum Net Owned Funds of-
(a) Rs.100 Crore
(b) Rs.200 Crore
(c) Rs.500 Crore
(d) Rs.300 Crore
(e) Rs.800 Crore
S1. Ans.(d)
Sol. Infrastructure Finance Company (IFC) is a non-banking finance company has a minimum Net Owned Funds of Rs.300 Crore.
(a) Banking Regulation Act, 1949
(b) Companies Act, 1956
(c) RBI Act 1934
(d) SBI Act 1955
(e) None of the given options is true
S2. Ans.(b)
Sol. NBFCs are incorporated under the Companies Act, 1956.
Sol. NBFCs are incorporated under the Companies Act, 1956.
Q3. An NBFC must be registered with the _____________ and have specific authorization to accept deposits from the public.
(a) RBI
(b) SEBI
(c) NABARD
(d) SBI
(e) Government of India
S3. Ans.(a)
Sol. An NBFC must be registered with the Reserve Bank of India (RBI) and have specific authorization to accept deposits from the public.
Sol. An NBFC must be registered with the Reserve Bank of India (RBI) and have specific authorization to accept deposits from the public.
Q4. RNBCs cannot accept deposits for a period less than _____ months and more than ______ months.
(a) 12, 84
(b) 14, 86
(c) 17, 92
(d) 24, 36
(e) 54, 95
S4. Ans.(a)
Sol. RNBCs cannot accept deposits for a period less than 12 months and more than 84 months.
Sol. RNBCs cannot accept deposits for a period less than 12 months and more than 84 months.
Q5. RNBC stands for-
(a) Residuary Non-Banking Companies
(b) Reserve Non-Banking Companies
(c) Reserve New Banking Companies
(d) Re-curring New Banking Companies
(e) None of the given options is true
S5. Ans.(a)
Sol. RNBCs stands for Residuary Non-Banking Companies.
Sol. RNBCs stands for Residuary Non-Banking Companies.
Q6. Which of the following features on the reverse of 500 rupee note?
(a) Mangalyaan
(b) Himalaya Mountains
(c) Red Fort
(d) Parliament of India
(e) Tractor
S6. Ans.(c)
Sol. The reverse side of 500 rupee note features is Red Fort.
Sol. The reverse side of 500 rupee note features is Red Fort.
Q7. ______ is a standard format of Bank Identifier Codes(BIC) for banks to identify banks and financial institutions globally.
(a) RTGS
(b) IFSC
(c) NEFT
(d) SWIFT
(e) None of the given options is true
S7. Ans.(d)
Sol. Society for Worldwide Interbank Financial Telecommunication (SWIFT) Code is a standard format of Bank Identifier Codes(BIC) for banks to identify banks and financial institutions globally.
Sol. Society for Worldwide Interbank Financial Telecommunication (SWIFT) Code is a standard format of Bank Identifier Codes(BIC) for banks to identify banks and financial institutions globally.
Q8. How many codes are there in SWIFT code?
(a) 8
(b) 11
(c) 7
(d) Both (b) and (c)
(e) Both (a) and (b)
S8. Ans.(e)
Sol. The Swift code consists of 8 or 11 characters. When 8 digits code is given, it refers to the primary office and 11digits code refers to the branch office.
Sol. The Swift code consists of 8 or 11 characters. When 8 digits code is given, it refers to the primary office and 11digits code refers to the branch office.
Q9. First 4 characters in the SWIFT code refers to-
(a) Bank Code
(b) Country Code
(c) Branch Code
(d) Location Code
(e) None of the given options is true
S9. Ans.(a)
Sol. First 4 characters in SWIFT code represents– bank code (only letters).
Sol. First 4 characters in SWIFT code represents– bank code (only letters).
Q10. SWIFT stands for-
(a) Station for Worldwide Interbank Financial Telecommunication
(b) Solution for Worldwide Interbank Financial Telecommunication
(c) System for Worldwide Interbank Financial Telecommunication
(d) Service for Worldwide Interbank Financial Telecommunication
(e) Society for Worldwide Interbank Financial Telecommunication
S10. Ans.(e)
Sol. SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. SWIFT provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment.
Sol. SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. SWIFT provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment.
Q11. Which among the following Banks has launches ‘Saral-Rural Housing Loan’ Scheme for weaker sections?
(a) ICICI Bank
(b) SBI
(c) PNB
(d) Syndicate Bank
(e) Axis Bank
S11. Ans.(a)
Sol. India’s largest private sector lender Industrial Credit and Investment Corporation of India (ICICI) Bank has launched ‘ICICI Bank Saral-Rural Housing Loan’ Scheme for weaker sections of society. The scheme is new home loan proposition of the bank with the special interest rate to cater people from rural areas including women borrowers as well as from weaker sections.
Sol. India’s largest private sector lender Industrial Credit and Investment Corporation of India (ICICI) Bank has launched ‘ICICI Bank Saral-Rural Housing Loan’ Scheme for weaker sections of society. The scheme is new home loan proposition of the bank with the special interest rate to cater people from rural areas including women borrowers as well as from weaker sections.
Q12. Which of the following public sector bank emblem figures a dog and the words ‘faithful, friendly’ in it?
(a) Punjab National Bank
(b) Oriental Bank of Commerce
(c) Syndicate Bank
(d) State Bank of India
(e) Indian Overseas Bank
S12. Ans.(c)
Sol. Syndicate Bank emblem figures a dog and the words ‘faithful, friendly’ in it.
Sol. Syndicate Bank emblem figures a dog and the words ‘faithful, friendly’ in it.
Q13. If the Cash Reserve Ratio (CRR) is lowered by the RBI, its impact on credit creation will be-
(a) Increases
(b) Decreases
(c) No impact
(d) All of the above
(e) None of the given options is true
S13. Ans.(a)
Sol. The Cash Reserve means, RBI informs the banks to maintain particular cash as the reserve. So if the reserve ratio is lower than the bank can utilize those cash for credit purpose.
Sol. The Cash Reserve means, RBI informs the banks to maintain particular cash as the reserve. So if the reserve ratio is lower than the bank can utilize those cash for credit purpose.
Q14. Which one of the following is a private bank?
(a) Allahabad Bank
(b) Punjab and Sind Bank
(c) Punjab National Bank
(d) South Indian Bank
(e) Bank of Baroda
S14. Ans.(d)
Sol. South Indian Bank Limited is a major private sector bank headquartered at Thrissur in Kerala.
Sol. South Indian Bank Limited is a major private sector bank headquartered at Thrissur in Kerala.
Q15. PAN card issued by the income tax department cannot be used for which of the following purpose?
(a) Proof of identity
(b) Proof of a registered tax payer
(c) Proof of address
(d) Proof of date of birth
(e) None of the given options is true
S15. Ans.(c)
Sol. Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department, to any “person” who applies for it or to whom the department allows the number without an application.
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