Economics MONEY BANKING AND FINANCIAL INSTITUTIONS Test 7 Welcome to your Economics MONEY BANKING AND FINANCIAL INSTITUTIONS Test 7 Name Email 1.To which of the following sectors of the economy do Basel III norms belong ? (a) Banking (b) Capital market (c) Automobile (d) Aviation None 2. The ______ was nationalised in the year 1949. (a) Union Bank of India (b) Reserve Bank of India (c) Central Bank of India (d) Imperial Bank of India None 3.Which of the following statements about the Reserve Bank of India is INCORRECT ? (a) In 1931, the Indian Central Banking Enquiry Committee revived the issue of the establishment of the Reserve Bank of India as the Central Bank for India. (b) The Reserve Bank of India commenced operations in 1935. (c) In 1929, the Hilton Young Commission recommended the establishment of a central bank to be called the 'Reserve Bank of India'. (d) The Reserve Bank of India Act was enacted in 193(d). None 4. The total liability of the monetary authority of the country, Reserve Bank of India, is called: (a) Hot money (b) Grey money (c) Cold cash (d) High powered money None 5.The mutual funds industry in India is regulated by which of the following organisations? (a) IRDA and IFCI (b) SEBI and RBI (c) NITI Aayog and IIFCL (d) Ministry of Commerce and SIDBI None 6.Which of the following is the correct definition of bank rate? (a) It is the rate of interest payable by commercial banks to RBI. (b) It is the rate of interest payable by a scheduled bank at which RBI lends overnight. (c) It is the rate of interest payable by a consumer to commercial banks. (d) It is the rate of interest payable by RBI to commercial banks. None 7. In which of the following years did the Government of India set up the Monetary Policy Committee? (a) 2008 (b) 2019 (c) 2010 (d) 2016 None 8. In which of the following years did the Reserve Bank of India liberalise the licensing policy for Urban Co-operative Banks? (a) 1993 (b) 1998 (c) 1995 (d) 2001 None 9.What is the meaning of the term 'collateral' in the context of the banking system ? (a) Collateral is an asset of the government that is used for the protection of consumers. (b) Collateral is an asset that a borrower owns and uses this as a guarantee to a lender until the loan is repaid. (c) Collateral is an asset that a borrower took as a loan. (d) Collateral is an asset that the government provides to farmers. None 10. The legal provisions governing the management of foreign exchange reserves are laid down in the Reserve Bank of India Act, ______. (a) 1947 (b) 1971 (c) 1923 (d) 1934 None 11. The concept of fiscal policy is based fundamentally on the ideas of ______. (a) Warren Buffett (b) Elinor Ostrom (c) John Maynard Keynes (d) Milton Friedman None 12.Ministry of Finance introduced a new form called Form 26AS for: (a) school admission application (b) taxpayers (c) e-Visa application (d) job application None 13.Which of the following is used as a primary means of implementing the monetary policy of the Reserve Bank of India ? (a) Repo rate (b) Call money (c) Mumbai Interbank Offer Rate (d) Promissory notes None 14.. What happens to Indian exports when Indian rupee is devalued ? (a) Export prices fluctuate (b) Exports become cheaper (c) Export prices remain stable (d) Exports become dearer None 15.Which of the following hills is situated in Assam ? (a) Aravali Hills (b) Karbi Anglong Hills (c) Javadi Hills (d) Shevaroy Hills None 16. ______ is an alphanumeric code that uniquely identifies a bank-branch participating in the NEFT system. (a) IFSC (b) STP (c) SFMS (d) RTGS None 17.What do you call the amount of monetary or other returns, either earned or unearned, accruing over a period of time? (a) Price (b) Value (c) Services (d) Income None 18.Which of the following is one of the three 'Domestic Systemically Important Banks' in India? (a) State Bank of India (SBI) (b) Federal Bank (c) RBL Bank (d) Axis Bank None 19.Where is the corporate office of RBL Bank located? (a) Patna (b) Mumbai (c) Srinagar (d) Bengaluru None 20. I-Sprint’21 is a FinTech Hackathon Series launched by ? (a) RBI (b) SEBI (c) NPCI (d) IFSCA None 21. The Coinage Act, 2011, allows issue of coins up to the denomination of ₹______ in India. (a) 1,000 (b) 500 (c) 100 (d) 5,000 None Time's up
