Banking and Financial Institutions MCQs

Question 1

Which one of the following statement is incorrect?

Accepted Answer

RBI is the king pin of the Indian gold market

Answer

Till 1942, RBI was the currency issuing authority of Burma (now Myanmar)

Answer

National Housing Bank (NHB) is the fully owned subsidiary of RBI

Answer

RBI can provide any direct financial assistance to any industry, trade or business

Question 2

Non-Banking Financial Companies can be classified as: 1. Asset Finance Company (AFC) 2. Investment Company (IC) 3. Loan Company 4. Foreign Trade Company (FTC) Choose the correct answer from the options given below:

Accepted Answer

1, 2 and 3 only

Answer

2, 3 and 4 only

Answer

1, 3 and 4 only

Answer

1, 2 and 4 only

Question 3

The only merger between nationalised banks was between New Bank of India and Punjab National Bank in

Accepted Answer

1993

Answer

2003

Answer

1997

Answer

2000

Question 4

When was UNCTAD established?

Accepted Answer

1964

Answer

1971

Answer

1976

Answer

1968

Question 5

Functions of money is

Accepted Answer

All of these

Answer

Medium of exchange

Answer

Measurement of value

Answer

Storage of value

Question 6

The commercial banks in India are governed by:

Accepted Answer

Indian Banking Regulation Act, 1949

Answer

Reserve Bank of India Act, 1934

Answer

Indian Companies Act, 1956

Answer

Securities and Exchange Board of India Act, 1993

Question 7

IDBI and ICICI is an example of

Accepted Answer

Development financial institutions

Answer

Merchant bank

Answer

Financial intermediaries

Answer

Serial capital firms

Question 8

"Skimming" in e-banking is a method of

Accepted Answer

stealing credit card information

Answer

converting Debit Card into Credit Card

Answer

transferring cash from one account to another account

Answer

intimating the customer about his heavy with drawals

Question 9

A non-banking institution that has a principal business of receiving deposits under any scheme or arrangement in one lump sum or in instalments by way of contributions is known as:

Accepted Answer

Residuary non-banking company

Answer

Principal non-banking company

Answer

Residential non-banking company

Answer

Optional non-banking company