Banking, Insurance & Financial Institutions

Question 1

SBI was formerly known as:‌​‍

Accepted Answer

Imperial Bank of India — SBI was previously the Imperial Bank of India, nationalized and renamed in 1955.‌​‍

Answer

Bank of India

Answer

Central Bank of India

Answer

Reserve Bank of India

Question 2

SEBI was established in (statutory):‌​‍

Accepted Answer

1992 — SEBI became a statutory body in 1992 (originally established in 1988 as non-statutory).‌​‍

Answer

1988

Answer

1990

Answer

1995

Question 3

NABARD stands for:‌​‍

Accepted Answer

National Bank for Agriculture and Rural Development — NABARD (1982) provides credit for rural development and agriculture.‌​‍

Answer

National Board for Agriculture Research

Answer

National Bureau of Animal Research

Answer

None of these

Question 4

Repo Rate is set by:‌​‍

Accepted Answer

RBI — RBI sets the Repo Rate as part of its monetary policy to control inflation.‌​‍

Answer

Government

Answer

Finance Ministry

Answer

SEBI

Question 5

Bank nationalisation first happened in India in:‌​‍

Accepted Answer

1969 — 14 major banks were nationalised in 1969 by PM Indira Gandhi. 6 more in 1980.‌​‍

Answer

1955

Answer

1980

Answer

1991

Question 6

₹1 note/coin is issued by:‌​‍

Accepted Answer

Ministry of Finance — ₹1 coins/notes are issued by the Ministry of Finance (signed by Finance Secretary). ‌​‍All other notes by RBI.

Answer

RBI

Answer

SBI

Answer

SEBI

Question 7

MUDRA Bank was launched for:‌​‍

Accepted Answer

Micro/small enterprises — MUDRA (Micro Units Development and Refinance Agency) provides loans to micro/small enterprises.‌​‍

Answer

Large industries

Answer

Foreign trade

Answer

Agriculture only

Question 8

Jan Dhan Yojana aims at:‌​‍

Accepted Answer

Financial inclusion (banking for all) — PM Jan Dhan Yojana (2014) aims for universal banking access — bank accounts for all unbanked adults.‌​‍

Answer

Housing for all

Answer

Free education

Answer

Health insurance

Question 9

The Bombay Stock Exchange (BSE) index is:‌​‍

Accepted Answer

Sensex — Sensex is BSE's index (30 stocks). ‌​‍Nifty is NSE's index (50 stocks). Dow Jones is USA.

Answer

Nifty

Answer

Dow Jones

Answer

FTSE

Question 10

What does KYC stand for?‌​‍

Accepted Answer

Know Your Customer — KYC (Know Your Customer) is mandatory verification before opening bank accounts or financial services.‌​‍

Answer

Keep Your Cash

Answer

Kerala Youth Commission

Answer

Key Yearly Certificate

Question 11

The RBI Governor is appointed by:‌​‍

Accepted Answer

Government of India — The RBI Governor is appointed by the Government of India (specifically the Appointments Committee of the Cabinet).‌​‍

Answer

President

Answer

PM

Answer

Finance Minister

Question 12

IRDA regulates:‌​‍

Accepted Answer

Insurance — IRDA (Insurance Regulatory and Development Authority, est. ‌​‍1999) regulates insurance in India.

Answer

Banking

Answer

Stock market

Answer

Telecom

Question 13

India's first bank was:‌​‍

Accepted Answer

Bank of Hindustan — Bank of Hindustan (1770) was India's first bank. ‌​‍Bank of Bombay (1840) was the first presidency bank.

Answer

SBI

Answer

RBI

Answer

Bank of Bombay

Question 14

CRR (Cash Reserve Ratio) means banks must keep what % with RBI?‌​‍

Accepted Answer

A fixed % of deposits as cash — CRR = percentage of total deposits that banks must keep with RBI as cash reserves. ‌​‍Used to control money supply.

Answer

A fixed % of profits

Answer

All foreign currency

Answer

Nothing — it's voluntary

Question 15

UPI was launched in:‌​‍

Accepted Answer

2016 — UPI (Unified Payments Interface) was launched in 2016 by NPCI. ‌​‍It enables instant bank transfers via mobile.

Answer

2014

Answer

2018

Answer

2020

Banking, Insurance & Financial Institutions