GK Trick

Banking Awareness for NIACL Mains

Q1. 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
(e) None of the above

Q2. ___________ 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
(e) Gujarat

Q3. 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
(e) None of the above

Q4. _____________ are the beneficiaries of the “Reverse Mortgage Scheme”.
(a) Government employees  
(b) Senior citizens
(c) Unemployed persons    
(d) Persons of BPL category
(e) None of the above

Q5. RBI was nationalized in the year-
(a) 1949
(b) 1952  
(c) 1955  
(d) 1964
(e) 1935

Q6. Which of the following is not a measure to control inflation as adopted by Govt. of India and/or RBI?
(a) Monetary Policy  
(b) Fiscal Policy
(c) Financial Inclusion
(d) Price control
(e) Bank Rate Policy

Q7. Current accounts are meant and useful for _____?
(a) Investment purposes  
(b) Identity purposes
(c) Savings purposes
(d) Day-to-day business needs
(e) Operational convenience

Q8. A _____ card is basically a payment mechanism which allows the holder to make purchase without any immediate cash outflows either physically or through his accounts?
(a) Debit
(b) Smart
(c) Credit
(d) ATM
(e) Kisan Credit

Q9. What do we mean by “Demat Accounts” in the financial markets in India?
(a) an account which is opened by the people of the lower income group of society
(b) an account in which trading of shares is done
(c) an account, which can be opened only by the Minors
(d) an account, of the nature of Current account, which can be opened only by the Corporate Houses
(e) None of the above

Q10. The ‘monetary base for credit expansion’ consists of _____?
(a) The total value of ‘high-powered money’
(b) The demand and time deposit liabilities
(c) The size of the deficit in the government’s budget
(d) All of the above
(e) None of the above

Q11. The Negotiable Instruments Act deals with ____?
(a) Cheques, demand drafts, banker’s cheques
(b) Promissory notes, bills of exchange and cheques
(c) Bills of exchange, Cheques and demand drafts
(d) Cheques, demand drafts and saving bank withdrawal forms
(e) None of the above

Q12. “Muhammad Yunus” is associated with Banking Industry and is acclaimed for his contribution in the field of ____?
(a) Micro-finance
(b) Technological advancement
(c) Consumer finance
(d) Banking Reforms in Bangladesh
(e) Low-cost housing

Q13. A NBFC is prohibited to offer or undertake _____?
(a) accept demand deposits
(b) accept time deposits
(c) Lend long term loans
(d) Pay a higher rate of interest on deposits as compared to Banks
(e) None of the Above

Q14. CBS stand for?
(a) Centralised banking system
(b) Computer based Solution
(c) Core banking Solution
(d) Customised banking Solution
(e) None of the Above

Q15. Small Industries Development Bank of India’s Single Window scheme means that a borrower is granted _____?
(a) Both term loan for fixed assets and loan for working capital through the same agency, namely, SFCs or Commercial Banks
(b) Both term and working capital through SIDBI itself  
(c) Both term loan and working capital through IDBI  
(d) All of the above
(e) None of the above












Solutions

1.B
2.B
3.C
4.B
5.A
6.C
7.D
8.C
9.B
10.A
11.C
12.A
13.D
14.C
15.A










5 Banking and SSC : Banking Awareness for NIACL Mains Q1. What does FSDC stand for? (a) Financial Security and Development Council (b) Financial Stability and Development Council (c) Fiscal ...

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