Banking and Financial Awareness

Banking and Financial Awareness

Banking and Financial Awareness
| Banking and Financial Awareness | | Money and Banking |
Q.1
Recently IDRBT, an arm of the Reserve Bank of India, is going to launch a model platform for blockchain technology. Here IDRBT stands for-
A. Indian Research and development in Banking Technology
B. Board for Development and Research in Indian Banking
C. Institute for Development and Research in Banking Technology
D. Body for Development and Research in Indian Banking
E. None of the above
Answer : Option C
Explaination / Solution:

The Institute for Development and Research in Banking Technology (IDRBT), an arm of the Reserve Bank of India, is going to launch a model platform for blockchain technology.

Workspace
Report
Q.2
Recently, which of the following bank has been added to the Financial Stability Board’s list of global systematically important banks (G-SIB) deemed ‘too big to fail’?
A. State Bank of India
B. Royal Bank of Canada
C. Royal Bank of Singapore
D. Bank of China
E. None of these
Answer : Option B
Explaination / Solution:

Royal Bank of Canada (RBC) has become first bank of Canada to be added to the Financial Stability Board’s list of global systematically important banks (G-SIB) deemed ‘too big to fail’. Note: Financial Stability Board is an international body based in Basel, Switzerland which co-ordinates the work of national financial authorities and international standard setting bodies.

Workspace
Report
Q.3
The Insolvency and Bankruptcy Board of India (IBBI) has registered which company as the first Information Utility?
A. NeSL
B. NSL
C. NEL
D. NLSE
E. None of these
Answer : Option A
Explaination / Solution:

The Insolvency and Bankruptcy Board of India (IBBI) registered National E-Governance Services Limited (NeSL) as an Information Utility (IU) under the IBBI (Information Utilities) Regulations, 2017. This registration is valid for five years from the date of registration.

Workspace
Report
Q.4
Consider the following for the Atal pension Yojana? 
1) This scheme is available for the Citizens of India in the age group of 18-40 years. 
2) Government would co- contribute to each subscriber 50% or 1000 per annum, whichever is less. However, for this, Subscriber shouldn’t be a tax payer and also shouldn’t be covered under any social security scheme. 
3) Only commercial banks are allowed to offer this scheme. 
Code-
A. 1 and 2
B. 2 and 3
C. 3 and 1
D. 3 only
E. 1, 2 and 3 only
Answer : Option A
Explaination / Solution:

Atal pension yojana which is available for the citizen of India, can even be offered by Small finance and payment banks along with Scheduled commercial bank.

Workspace
Report
Q.5
Which of the following is NOT a part of India’s Money Market?
A. Bill Market
B. Call Money Market
C. Banks
D. Indian Gold Council
E. Mutual funds
Answer : Option D
Explaination / Solution:

Indian Gold Council is NOT a part of India’s Money Market

Workspace
Report
Q.6
Central Bank is an
A. Rural bank
B. Regional bank
C. Apex bank
D. Commercial bank
Answer : Option C
Explaination / Solution:

It is the highest banking authority in an economy. Therefore, it is also known as apex body in banking sector.

Workspace
Report
Q.7
Bank rate is for
A. Commercial banks by the central bank
B. Central bank by the commercial banks
C. Commercial banks by the government
D. Central banks by the central bank
Answer : Option A
Explaination / Solution:
No Explaination.


Workspace
Report
Q.8
Statutory Liquidity ratio is a percentage of total deposits which the commercial bank keeps with the central bank by law.
A. Can’t say
B. 0
C. 1
D. Sometimes
Answer : Option C
Explaination / Solution:
No Explaination.


Workspace
Report
Q.9
One of the functions of Central Bank among the following is
A. Bank of securities
B. Bank of foreign exchange
C. Bank of issue
D. Bank of delivery
Answer : Option C
Explaination / Solution:
No Explaination.


Workspace
Report
Q.10
The narrow definition of money is not based on
A. Store of value function
B. Medium of payment function
C. Both A & B
D. Cant’ say
Answer : Option A
Explaination / Solution:
No Explaination.


Workspace
Report