Banking and Financial Institutions MCQs

Question 1

Which of the following is the main advantage of - ASBA with the applicants for share allotment?

Accepted Answer

ASBA applicants deposit/OD account

Answer

ASBA applicant has got certain preference in allotment of shares as compared to general applicants

Answer

ASBA applicants need not remit the fund for allotment of shares, he/she will do after shares are allotment to him/her

Answer

ASBA applicant has got secured allotment of shares

Question 2

Read the following statements and choose the correct option: Statement-I: Small Industry Development Bank of India (SIDBI) was set up as a wholly owned subsidiary of RBI. Statement-II: SIDBI has taken over the responsibility of administering small industry development fund managed by IDBI.

Accepted Answer

(II) is correct

Answer

(I) is correct

Answer

(I) and (II) are correct

Answer

(I) and (II) are wrong

Question 3

The National Housing Bank (NHB) was set up in India as a wholly-owned subsidiary of?

Accepted Answer

Reserve Bank of India

Answer

State Bank of India

Answer

ICICI Bank

Answer

None of the above

Question 4

The expansion for BIFR, in the context of the Indian Industry is:

Accepted Answer

Board for Industrial and Financial Reconstruction

Answer

Bureau for Industrial and Financial Reconstruction

Answer

Board for Investment and Financial Reconstruction

Answer

Bureau for Investment and Financial Reconstruction

Question 5

Which of the following statements is incorrect regarding digital and virtual currencies?

Accepted Answer

Digital currency can be used as such across the world, but virtual currencies can be used within particular geographies

Answer

Digital currency is recognized by the Reserve Bank of India, but virtual currency is not recognized by it

Answer

Digital currencies are issued by central banks, whereas virtual currencies are issued electronically

Answer

None of the above

Question 6

In which year the ICICI Limited was merged with its subsidiary ICICI Bank as a part of reverse merger exercise to make first Universal Bank in India in 2003?

Accepted Answer

2002

Answer

2004

Answer

2005

Answer

1995

Question 7

Which of the following is not one of the components of 'International Reserve'?

Accepted Answer

Money Market Instruments

Answer

Special Drawing Rights

Answer

Reserve Position in IMF

Answer

Monetary Gold

Question 8

Which bank has introduced 'Prepaid Card' first?

Accepted Answer

SBI

Answer

OBC

Answer

BoB

Answer

Corporation Bank

Question 9

MRTP act relates to:

Accepted Answer

Control of monopolies and unfair trade practices

Answer

Protection of investors only

Answer

Regulation of foreign exchange

Answer

Control of capital issues