Graduate Level Indian Economy
Banking, Insurance & Financial Institutions
15 questions on Indian banks, RBI policies, insurance, stock markets, and financial literacy.
Banking, Insurance & Financial Institutions
15 questions · 10 minutes
10:00
Q1.SBI was formerly known as:
Explanation: SBI was previously the Imperial Bank of India, nationalized and renamed in 1955.
Q2.SEBI was established in (statutory):
Explanation: SEBI became a statutory body in 1992 (originally established in 1988 as non-statutory).
Q3.NABARD stands for:
Explanation: NABARD (1982) provides credit for rural development and agriculture.
Q4.Repo Rate is set by:
Explanation: RBI sets the Repo Rate as part of its monetary policy to control inflation.
Q5.Bank nationalisation first happened in India in:
Explanation: 14 major banks were nationalised in 1969 by PM Indira Gandhi. 6 more in 1980.
Q6.₹1 note/coin is issued by:
Explanation: ₹1 coins/notes are issued by the Ministry of Finance (signed by Finance Secretary). All other notes by RBI.
Q7.MUDRA Bank was launched for:
Explanation: MUDRA (Micro Units Development and Refinance Agency) provides loans to micro/small enterprises.
Q8.Jan Dhan Yojana aims at:
Explanation: PM Jan Dhan Yojana (2014) aims for universal banking access — bank accounts for all unbanked adults.
Q9.The Bombay Stock Exchange (BSE) index is:
Explanation: Sensex is BSE's index (30 stocks). Nifty is NSE's index (50 stocks). Dow Jones is USA.
Q10.What does KYC stand for?
Explanation: KYC (Know Your Customer) is mandatory verification before opening bank accounts or financial services.
Q11.The RBI Governor is appointed by:
Explanation: The RBI Governor is appointed by the Government of India (specifically the Appointments Committee of the Cabinet).
Q12.IRDA regulates:
Explanation: IRDA (Insurance Regulatory and Development Authority, est. 1999) regulates insurance in India.
Q13.India's first bank was:
Explanation: Bank of Hindustan (1770) was India's first bank. Bank of Bombay (1840) was the first presidency bank.
Q14.CRR (Cash Reserve Ratio) means banks must keep what % with RBI?
Explanation: CRR = percentage of total deposits that banks must keep with RBI as cash reserves. Used to control money supply.
Q15.UPI was launched in:
Explanation: UPI (Unified Payments Interface) was launched in 2016 by NPCI. It enables instant bank transfers via mobile.
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PSC Score (with -0.33): 0 / 15
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