Banking Awareness Questions for NABARD Prelims Exam 2017

Dear Readers,

Banking-Awareness-Questions-for-NABARD-Prelims-Exam-2017

Just a few days are left for NABARD Prelims Exam It is time to pace up your preparation of Banking Awareness for NABARD and IBPS Exam, These Banking questions will also help you in preparing for other upcoming banking recruitment examination.

Q1. PFRDA is responsible for the appointment of which of the following agency?
(a) Pension Fund Managers
(b) Custodian
(c) NPS Trustee Bank
(d) Central Record Keeping Agency (CRA)
(e) All of the above

S1. Ans.(e)
Sol. PFRDA is responsible for the appointment of various intermediate agencies such as Central Record Keeping Agency (CRA), Pension Fund Managers, Custodian, NPS Trustee Bank, etc.

Q2. Pension Fund Regulatory and Development Authority (PFRDA) is authorised by?
(a) GOI
(b) RBI
(c) Ministry of Commerce
(d) Ministry of Finance
(e) SEBI

S2. Ans.(d)
Sol. Pension Fund Regulatory and Development Authority (PFRDA) is authorised by Ministry of Finance, Department of Financial Services.

Q3. The headquarters of Pension Fund Regulatory and Development Authority (PFRDA) is-
(a) Mumbai
(b) Hyderabad
(c) New Delhi
(d) Bangalore
(e) Kolkata

S3. Ans.(c)
Sol. The headquarters of Pension Fund Regulatory and Development Authority (PFRDA) is New Delhi.

Q4. Which of the following is an investment strategy in which a fund invests in other types of funds?
(a) Bond
(b) Securities
(c) Stock
(d) Funds of Fund
(e) None of the given options is true

S4. Ans.(d)
Sol. Funds of Fund is an investment strategy in which a fund invests in other types of funds.

Q5. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established by ____________  as its wholly owned subsidiary.
(a) NABARD
(b) RBI
(c) SBI
(d) SIDBI
(e) SEBI

S5. Ans.(b)
Sol. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established by Reserve Bank of India (RBI) as its wholly owned subsidiary on 3rd February 1995 with a view to augmenting the production of bank notes in India to enable the RBI to bridge the gap between the supply and demand for bank notes in the country.

Q6. An Agreement to exchange one currency with another, at a specific rate of exchange is known as-
(a) Currency Swap
(b) ECB
(c) Base Rate
(d) Bank Rate
(e) Import-Export

S6. Ans.(a)
Sol. An Agreement to exchange one currency with another, at a specific rate of exchange is known as Currency Swap.

Q7. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established as its wholly owned subsidiary on-
(a) 1988
(b) 1992
(c) 2002
(d) 1995
(e) 1999

S7. Ans.(d)
Sol. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established by Reserve Bank of India (RBI) as its wholly owned subsidiary on 3rd February 1995 with a view to augmenting the production of bank notes in India to enable the RBI to bridge the gap between the supply and demand for bank notes in the country.

Q8. The BRBNMPL has been registered as a _____________ under the Companies Act 1956.
(a) Public Limited Company
(b) Foreign Limited Company
(c) Private Limited Company 
(d) All of the above
(e) None of the given options is true

S8. Ans.(a)
Sol. The BRBNMPL has been registered as a Private Limited Company under the Companies Act 1956 with its Registered and Corporate Office situated at Bengaluru. The company manages 2 Presses one at Mysore in Karnataka and the other at Salboni in West Bengal. The present capacity for both the presses is 16 billion note pieces per year on a 2-shift basis.

Q9. Which of the following is an instrument used in India to facilitate the access to foreign money by Indian corporations and PSUs?
(a) Currency Swap
(b) ECB
(c) Base Rate
(d) Bank Rate
(e) NRO

S9. Ans.(b)
Sol. External Commercial Borrowing(ECB) is an instrument used in India to facilitate the access to foreign money by Indian corporations and PSUs.

Q10. Where is the Corporate Office of Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)?
(a) Mumbai
(b) Cochin
(c) Chennai
(d) Hyderabad
(e) Bengaluru

S10. Ans.(e)
Sol. The BRBNMPL has been registered as a Private Limited Company under the Companies Act 1956 with its Registered and Corporate Office situated at Bengaluru.

Q11. The DIC Bill was introduced in the Parliament on August 21st, 1961. What is the meaning of "D" in DIC?
(a) Distance
(b) Development
(c) Deposit
(d) Demand
(e) None of the above

S11. Ans.(c)
Sol. The Deposit Insurance Corporation (DIC) Bill was introduced in the Parliament on August 21, 1961. After it was passed by the Parliament, the Bill got the assent of the President on December 7, 1961, and the Deposit Insurance Act, 1961 came into force on January 1, 1962.

Q12. DICGC stands for- 
(a) Deposit Investment and Credit Guarantee Corporation 
(b) Deposit Insurance and Credit Guarantee Corporation
(c) Deposit Insurance and Credit Guarantee Company 
(d) Demand Insurance and Credit Guarantee Corporation 
(e) Deposit Installment and Credit Guarantee Corporation

S12. Ans.(b)
Sol. DICGC stands for Deposit Insurance and Credit Guarantee Corporation.

Q13. DICGC came into existence on- 
(a) 15th July 1949
(b) 15th July 1961
(c) 15th July 1982
(d) 15th July 1972
(e) 15th July 1978

S13. Ans.(e)
Sol. Deposit Insurance and Credit Guarantee Corporation (DICGC) came into existence on July 15, 1978. Consequently, the title of Deposit Insurance Act, 1961 was changed to 'The Deposit Insurance and Credit Guarantee Corporation Act, 1961'.

Q14. The authorised capital of the DICGC is 50 crore, which is fully issued and subscribed by-
(a) Government of India
(b) SIDBI
(c) NABARD
(d) RBI
(e) SEBI

S14. Ans.(d)
Sol. The authorised capital of the Corporation is 50 crore, which is fully issued and subscribed by the Reserve Bank of India (RBI).

Q15. Which type of Banks is covered under Deposit Insurance (DICGC) Scheme?
(a) All commercial banks including the branches of foreign banks functioning in India
(b) Local Area Banks 
(c) Regional Rural Banks
(d) All of the above
(e) None of the given options is true

S15. Ans.(d)
Sol. All commercial banks including the branches of foreign banks functioning in India, Local Area Banks and Regional Rural Banks are covered under Deposit Insurance (DICGC) Scheme.

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