Banking Quiz

1. Under which act does RBI issue directives to banks?
(a) PMLA Act, 2002  
(b) RBI Act, 1934
(c) DICGC Act, 1961  
(d) Banking Regulation Act, 1949

2. Which committee recommended the change in the base year of the Wholesale Price Index?
(a) Narsimhan committee  
(b) Vijay Kelkar committee
(c) Srikrishna committee  
(d) Abhijit Sen committee

3. ____________is the base year of the New Consumer Price Index Series.
(a) 2009  
(b) 2008  
(c) 2006  
(d) 2010

4. __________________isn’t a method of measurement of National Income.
(a) Value-added method  
(b) Income method
(c) Investment method  
(d) Expenditure method

5. With which among the following countries has India signed a Comprehensive Economic Partnership Agreement (CEPA)?
(a) Japan    
(b) Singapore  
(c) Malaysia  
(d) France

6. In India, the commercial banks are required to provide_______% of their ANBC (Adjusted Net Bank Credit) to priority sector. 
(a) 15  
(b) 25  
(c) 35  
(d) 40

7. What does FSDC stand for? 
(a) Financial Security and Development Council
(b) Financial Stability and Development Council
(c) Fiscal Security and Development Council
(d) Fiscal Stability and Development Council

8. ___________________has been declared the first ‘total banking state’ in India, successfully implementing the total financial inclusion thereby ensuring banking facility to all households. 
(a) Maharashtra          
(b) Kerala  
(c) Himachal Pradesh  
(d) Uttarakhand

9. Since April 1, 2012__________has become the validity of cheques and bank drafts. 
(a) 2 months  
(b) 3 months  
(c) 4 months  
(d) 6 months

10. On what basis is Ad Valorem Tax levied? 
(a) Volume  
(b) Value  
(c) Imports  
(d) Exports

11. RBI is coming up with the concept of____________to protect banks against possible harmful effects arising from the operations of their non-banking financial subsidiaries. 
(a) Financial Holding Company
(b) Bank Holding Company
(c) Bureau of Credit Union
(d) Financial Institutions Audit Cell

12. RBI has introduced “Marginal Standing Facility” with the objective of: 
(a) Controlling Inflation
(b) Containing instability in long term inter-bank rates
(c) Containing instability in the overnight inter-bank rates
(d) All of the above

13. _____________are the beneficiaries of the “Reverse Mortgage Scheme”.
(a) Government employees  
(b) Senior citizens
(c) Unemployed persons      
(d) Persons of BPL category

14. RBI was nationalized in the year
(a) 1949  
(b) 1952  
(c) 1955  
(d) 1964

15. Which of the following is/are associated with the fiscal policy? 
1. Marginal Standing Facility 
2. Devaluation of Currency 
3. Market Stabilization Scheme 
(a) 1 & 2  
(b) Only 3  
(c) 2 & 3  
(d) Only 2

16. When was Liberalized Exchange Rate Management System (LERMS) started in India? 

17. National income of India is estimated by
(a) NCAER                          
(b) Ministry of Statistics
(c) Central Statistical Office  
(d) Ministry of Finance