Banking Awareness Quiz for Bank Exam: 23-July-2020

The Banking Awareness section constitutes a major part of a competitive examination and needs your undivided attention. Banking Awareness Quiz of 23rd July 2020 covering the following topics: Security Paper Mill, Mixed economy, IIFCL, SPMCIL.

The Banking Awareness section constitutes a major part of a competitive examination and needs your undivided attention. With the increased competition in the field of Banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness Quiz not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking or Insurance Recruitment. 

                                     

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Banking Affairs 23rd July 2020 Quiz

To complement your preparation for General Awareness section of the upcoming exams like SBI Clerk Mains and RBI Assistant Mains we are providing you Banking Awareness Quiz of 23rd July 2020 covering the following topics: Security Paper Mill, Mixed economy, IIFCL, SPMCIL.

Q1. Security Paper Mill (SPM) located at________________.
(a) Mumbai
(b) Kolkata
(c) Bangaluru
(d) Hoshangabad
(e) New Delhi

Q2. What is the meaning of Mixed economy?
(a) Co-existence of small and large industries
(b) Co-existence of public and private industries
(c) Co-existence of the rich and poor
(d) Promoting both agriculture and industries in the economy
(e) None of the given options is true

Q3. Security Printing and Minting Corporation of India Limited (SPMCIL) was formed after corporatisation of nine units including four mints, four presses and one paper mill which were earlier functioning under the Ministry of Finance. The Company was incorporated on______________.
(a) 13th January 2006
(b) 01st April 2002
(c) 18th March 2004
(d) 02nd October 2008
(e) 15th September 1960

Q4. India Infrastructure Finance Company Limited (IIFCL) is a wholly-owned _____________ company set up in 2006.
(a) Small Industries Development Bank of India (SIDBI)
(b) Finance Ministry (FM)
(c) Securities and Exchange Board of India (SEBI)
(d) Reserve Bank of India (RBI)
(e) Government of India (GOI)

Q5. _________ are the market operations conducted by the RBI with an objective to adjust the rupee liquidity conditions in the market on a durable basis.
(a) Open Market Operations (OMOs)
(b) Capital Market Operations
(c) When Issued Market
(d) All of the Above
(e) Monetary Policy

Solutions

S1. Ans.(d)
Sol. Security Paper Mill was established in 1968 at Hoshangabad, Madhya Pradesh.

S2. Ans.(b)
Sol. All modern economies are mixed where the means of production are shared between the private and public sectors.

S3. Ans.(a)
Sol. Security Printing and Minting Corporation of India Limited (SPMCIL) was formed after corporatisation of nine units including four mints, four presses and one paper mill which were earlier functioning under the Ministry of Finance. The Company was incorporated on 13.01.2006 under the Companies Act, 1956 with its headquarters at 16th Floor, Jawahar Vyapar Bhawan, Janpath, New Delhi. SPMCIL, a Miniratna Category-I CPSE, and wholly owned Schedule ‘A’ Company of Government of India, is engaged in the manufacture of security paper, minting of coins, printing of currency and bank notes, non-judicial stamp papers, postage stamps, travel documents, etc.

S4. Ans.(e)
Sol. India Infrastructure Finance Company Limited (IIFCL) is a wholly-owned Government of India company set up in 2006 to provide long-term finance to viable infrastructure projects through the Scheme for Financing Viable Infrastructure Projects through a Special Purpose Vehicle called India Infrastructure Finance Company Ltd (IIFCL), broadly referred to as SIFTI.

S5. Ans.(a)
Sol. Open Market Operations (OMO’s) conducted by the RBI by way of sale/ purchase of Government securities to/ from the market. When the RBI feels there is excess liquidity in the market, it resorts to sale of securities thereby sucking out the rupee liquidity. Similarly, when the liquidity conditions are tight, the RBI will buy securities from the market, thereby releasing liquidity into the market.

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