31.
In which year the ICICI Limited was merged with its subsidiary ICICI Bank?
[A] 2002
[B] 2004
[C] 2005
[D] 1995
Hide Answer
Correct Answer: A [2002]
Notes:
ICICI Bank was established by the Industrial Credit and Investment Corporation of India (ICICI), an Indian financial institution, as a wholly owned subsidiary in 1994. The parent company got merged with the bank in 2002.
32.When was the National Housing Bank Act passed?
[A] 1976
[B] 1987
[C] 1996
[D] 1970
Hide Answer
Correct Answer: B [1987]
Notes:
National Housing Bank (NHB) was set up on 9 July 1988 under the National Housing Bank Act, 1987. NHB registers, regulates and supervises all the Housing Finance Company (HFCs).
33.What is the minimum paid-up capital requirements for Small Finance Banks?
[A] Rs 100 crore
[B] Rs 200 crore
[C] Rs 50 crore
[D] Rs 10 crore
Hide Answer
Correct Answer: A [Rs 100 crore]
Notes:
Small Finance Banks should have a minimum capital of Rs. 100 crore and maintain a capital adequacy of 15%
34.Where is the headquarters of North-East Small Finance Bank located in India?
[A] Dispur
[B] Gangtok
[C] Guwahati
[D] Patna
Hide Answer
Correct Answer: C [Guwahati]
Notes:
The headquarters of North-East Small Finance Bank is located Guwahati in India. Its started its operation on 17 October 2017.
35.Who headed the committee to evaluate the license applications for Payment banks?
[A] C Rangarajan
[B] Usha Thorat
[C] Nachiket Mor
[D] B S Mehta
Hide Answer
Correct Answer: C [Nachiket Mor]
Notes:
In 2015, RBI formed an external advisory committee (EAC) headed by Nachiket Mor would evaluate the license applications. Total 41 applicants had applied for the license.
36.Which of the following activities can be undertaken by a Business Correspondent?
[A] Selling mutual fund products
[B] Selling Pension products
[C] Extending small credit on behalf of the banks
[D] All of the above
Hide Answer
Correct Answer: D [All of the above]
Notes:
The business correspondent is authorised to collect small ticket deposits and extend small credit on behalf of the banks. A BC also takes activities like selling mutual fund products, selling Pension products and extending small credit on behalf of the banks.
37.Which of these kinds of deposits can be offered by Banking Correspondents?
[A] Small Savings Accounts
[B] Fixed Deposits
[C] Recurring Deposits
[D] All of the above
Hide Answer
Correct Answer: D [All of the above]
Notes:
As per the RBI guidelines the products provided by BCs are: Small Savings Accounts, Fixed Deposit and Recurring Deposit with low minimum deposits, Remittance to any BC customer, Micro Credit and General Insurance.
38.When was Deposit Insurance and Credit Guarantee Corporation established under RBI?
[A] 1976
[B] 1978
[C] 1981
[D] 1969
Hide Answer
Correct Answer: B [1978]
Notes:
Deposit Insurance and Credit Guarantee Corporation (DICGC) is a subsidiary of Reserve Bank of India. It was established on 15 July 1978 under Deposit Insurance and Credit Guarantee Corporation Act, 1961 for the purpose of providing insurance of deposits and guaranteeing of credit facilities.
39.What kind of Deposits are covered by DICGC?
[A] Saving deposits
[B] Fixed deposits
[C] Current deposits
[D] All of the above
Hide Answer
Correct Answer: D [All of the above]
Notes:
DICGC insures all bank deposits, such as saving, fixed, current, Recurring deposit for up to the limit of Rs. 100,000 of each deposits in a bank. It was set up in 1987.
40.What happens when CRR is increased?
[A] It decreases money supply
[B] It increases demand for money
[C] It decreases inflation
[D] All of the above
Hide Answer
Correct Answer: D [All of the above]
Notes:
When CRR is increased , it decreases money supply, Increases interest rates on home loans, car loans etc. and in inter-bank market, Increases demand for money and decreases inflation.
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