This quiz works best with JavaScript enabled. Home > Finance > Banking > Banking Affairs > Banking Affairs – Quiz 35 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking Affairs Quiz 35 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. As we all know, Government of India pays special emphasis on the management of Fiscal Deficit. What is Fiscal Deficit? A) The gap between projected of estimated GDP and actual GDP. B) The gap between the total number and value of the currency notes issued by the RBI uptill now over the number and value of those which are in actual circulation. C) The gap between the actual borrowings of the Government of India and the expected expenditure for which provision is made in the budget. D) Excess of government's disbursement comprising current and capital expenditures over its current receipts (tax/non-tax receipts). Show Answer Correct Answer: D) Excess of government's disbursement comprising current and capital expenditures over its current receipts (tax/non-tax receipts). 2. Under Liberalised Remittance Scheme, PAN card need not be insisted upon for remittance made towards permissible current account transactions up to how much amount? A) USD 20, 000. B) USD 10, 000. C) USD 15, 000. D) USD 25, 000. Show Answer Correct Answer: D) USD 25, 000. 3. Which of the following is the component of India's Foreign Exchange Reserve? A) Special drawing rights. B) Reserve tranche position of India in IMF. C) Indian currency held by foreign countries. D) Both A and B. Show Answer Correct Answer: D) Both A and B. 4. What is the maximum denomination for which coins can be produced in India? (IBPS 2011) A) Rs. 50. B) Rs. 100. C) Rs. 10. D) Rs. 1000. Show Answer Correct Answer: D) Rs. 1000. 5. Banks borrow money from the RBI on which of the following rates? A) SLR. B) Repo Rate. C) Reverse Repo Rate. D) CRR. Show Answer Correct Answer: B) Repo Rate. 6. Mutual funds are regulated by [Corporation Bank 2011] A) Association of Mutual Funds of India (AMFI). B) Securities and Exchange Board of India (SEBI). C) Reserve Bank of India. D) IRDA. Show Answer Correct Answer: B) Securities and Exchange Board of India (SEBI). 7. Annual PPF ceiling to be enhanced to.....from Rs 1 lakh A) RS. 3 lakh. B) RS. 1.5 lakh. C) RS. 2 lakh. D) RS. 3.5 lakh. Show Answer Correct Answer: B) RS. 1.5 lakh. 8. What was the name of State Bank of India (SBI) before it was created by SBI Act? A) Imperial Bank of Bengal. B) Imperial Bank of India. C) Imperial Bank of Hindustan. D) Imperial Bank of Madras. Show Answer Correct Answer: B) Imperial Bank of India. 9. Which Bank was beaten India's largest lender State Bank of India (SBI) for the first time to become the second most valued bank in the country recently. A) ICICI Bank. B) Kotak Mahindra Bank. C) Axis Bank. D) HDFC Bank. Show Answer Correct Answer: B) Kotak Mahindra Bank. 10. Govt of India has launched special Green Revolution project for which of the following states/group of states? A) North-East states. B) Bihar and Jharkhand. C) West Bengal. D) Tamil Nadu and Kerala. Show Answer Correct Answer: A) North-East states. 11. Who among the following has been appointed new chairman of NABARD? A) Harsh Kumar Bhanwala. B) Chandra Shekar. C) Hemanth Banswal. D) Amith Mishra. Show Answer Correct Answer: A) Harsh Kumar Bhanwala. 12. How much credit small finance banks has to give to priority sectors? A) 40%. B) 50%. C) 75%. D) 80%. Show Answer Correct Answer: C) 75%. 13. What is the basic aim of Lead Bank Scheme? A) Big banks should try to open offices in each district. B) There should be stiff competition among the various nationalized banks. C) Individual banks should adopt particular districts for intensive development. D) All the banks should make intensive efforts to mobilize deposits. Show Answer Correct Answer: C) Individual banks should adopt particular districts for intensive development. 14. What is the primary aim of enacting the SARFAESI Act? A) Recovering Loans. B) Increasing Deposits. C) Transparent appointment of Directors. D) Reducing Corruptions and Scams. Show Answer Correct Answer: A) Recovering Loans. 15. Committee, launched the process of reforms of financial system in India A) Gadgil committee. B) Narasimham committee. C) Nariman committee. D) Khanna Committee. Show Answer Correct Answer: B) Narasimham committee. 16. Nobel laureate Muhammed Yunus belongs to which of the following countries? [Allahabad Bank 2011] A) Maldives. B) Pakistan. C) Bangladesh. D) Sri Lanka. Show Answer Correct Answer: C) Bangladesh. 17. What type of a bank is a Local Area Bank? A) Scheduled Banks. B) Non-scheduled Banks. C) Un-scheduled Banks. D) None of the above. Show Answer Correct Answer: B) Non-scheduled Banks. 18. Which one of the following sources is not considered as a source of Government revenue? A) Taxes. B) Surplus of Public Enterprises. C) Mobilisation of internal loan and deposits. D) Transfer Payments. Show Answer Correct Answer: D) Transfer Payments. 19. Which committee recommended the establishment of the RRBs? A) Kelker Committee. B) Karmakar Committee. C) Narasimham Committee. D) Tarpore Committee. Show Answer Correct Answer: C) Narasimham Committee. 20. Primary (Urban) Co-operative Banks (UCBs) have been permitted to close unremunerative branches/extension counters without the Reserve Bank's prior permission provided A) The bank has not been placed under any directions under Section 35A of the Banking Regulation Act, 1949. B) The bank's board should take the decision of closing down the extension counter/branch and the decision should be properly minuted in the official record of proceedings of the Board Meeting. C) The bank should give proper notice to all existing depositors/clients of the branch through a press release in local leading newspapers as also through a circular to each constituent of the branch, well in advance of the closure of the branch. D) All of the above. Show Answer Correct Answer: D) All of the above. 21. Which of the following is the first Aadhaar Gram in India? A) Buldana. B) Akola. C) Bhagalpur. D) Tembhli. Show Answer Correct Answer: D) Tembhli. 22. Which committee mooted the idea of payments banks? A) Bimal Jalan Committee. B) P J Nayak Committee. C) Nachiket Mor Committee. D) YV Reddy Committee. Show Answer Correct Answer: C) Nachiket Mor Committee. 23. On 7 May 2015, RBI said with effect from September 1, 2015 all new cards issued-debit and credit, domestic and international-by banks shall be EMV chip and pin based cards. EMV stands for A) Europay, Mastro and Visa. B) Europay, Master Card and Visa. C) Entitlement of Master Card and Visa. D) Euro, Master Card and Visa. Show Answer Correct Answer: B) Europay, Master Card and Visa. 24. Banks are required to pay how much percentage of their net bank credit to Priority Sector in advance? A) 10%. B) 7%. C) 5%. D) 15%. Show Answer Correct Answer: A) 10%. 25. What is a soft currency? A) A currency whose exchange rate has a tendency to fluctuate. B) A currency which can be easily used for settling any International transactions. C) A currency which can not be used for settling international transactions because it does not command a value in the international market. D) A currency which is available by way of soft loans from international agencies. Show Answer Correct Answer: C) A currency which can not be used for settling international transactions because it does not command a value in the international market. 26. Which of these is an Old Private Sector Bank? A) Karur Vysya Bank. B) Federal Bank. C) Karnataka Bank. D) All of the above. Show Answer Correct Answer: D) All of the above. 27. The Certificate of Initial Registration for an underwriter with SEBI remains valid for how many years? A) 7. B) 5. C) 3. D) 4. Show Answer Correct Answer: B) 5. 28. What is 'Packing Credit'? A) Finance extended to packing materials industry. B) Finance extended to an Importer to pack the goods imported. C) Finance extended to Warehouses for keeping the goods packages. D) Finance extended to an Exporter to meet the costs of buying and/or making products to be exported. Show Answer Correct Answer: D) Finance extended to an Exporter to meet the costs of buying and/or making products to be exported. 29. The main function(s) of SIDBI is/are A) To provide refinance for loans and advances extended by the primary lending institutions to SSI units and also to provide resources support to them. B) It discounts and rediscounts bill arising from sale of machinery to or manufactured by industrial units in the SSI sector. C) It extends seed capital/soft loan assistance under National Equity Fund, Mahila Udyan Nidhi and Mahila Vikas Nidhi and Seed Capital Schemes through specified lending agencies. D) All of the above. Show Answer Correct Answer: D) All of the above. 30. On 25th September, 1975, rupee was delinked from pound sterling and was linked to A) US dollar. B) Gold. C) Basket of currencies. D) All of these. Show Answer Correct Answer: C) Basket of currencies. ← PreviousNext →Related QuizzesBanking QuizzesFinance QuizzesBanking Affairs Quiz 1Banking Affairs Quiz 2Banking Affairs Quiz 3Banking Affairs Quiz 4Banking Affairs Quiz 5Banking Affairs Quiz 6Banking Affairs Quiz 7Banking Affairs Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books