Tuesday, 13 June 2017

Banking Awareness Questions for RBI Grade-B Phase-1 Exam

Banking Awareness Questions for RBI Grade-B Phase-1 Exam


Q1. ECGC Limited (Export Credit Guarantee Corporation of India Ltd) is a company wholly owned by?
(a) RBI
(b) Government of India
(c) IRDAI
(d) NABARD
(e) Finance Ministry

S1. Ans.(b)
Sol. ECGC Ltd. (Formerly Export Credit Guarantee Corporation of India Ltd.), wholly owned by Government of India, was set up in 1957 with the objective of promoting exports from the country by providing Credit Risk Insurance and related services for exports. It functions under the administrative control of Ministry of Commerce & Industry, and is managed by a Board of Directors comprising representatives of the Government, Reserve Bank of India, banking, and insurance and exporting community. Over the years it has designed different export credit risk insurance products to suit the requirements of Indian exporters and commercial banks extending export credit.

Q2. The Headquarters of Kotak Mahindra Bank is located in _______
(a) Mumbai
(b) Hyderabad
(c) Chennai
(d) Bangaluru
(e) New Delhi

S2. Ans.(a)
Sol. Kotak Mahindra Bank is an Indian private sector banking headquartered in Mumbai, Maharashtra.
Q3. Minimum amount that can be invested in Kisan Vikas Patra(KVP) Certificate is _________
(a) Rs.100
(b) Rs.200
(c) Rs.500
(d) Rs.1000
(e) Rs.1500

S3. Ans.(d)
Sol. KVP certificates are available in the denominations of Rs 1000, Rs 5000, Rs 10000 and Rs 50000. The minimum amount that can be invested is Rs 1000. However, there is no upper limit on the purchase of KVPs.

Q4. National Housing Bank (NHB), a wholly owned subsidiary of_________
(a) RBI
(b) Government Of India
(c) IRDAI
(d) State Government
(e) NABARD

S4. Ans.(a)
Sol. National Housing Bank (NHB) is an apex level institution for housing. NHB was set up on July 9, 1988 under the National Housing Bank Act, 1987. NHB is wholly owned by Reserve Bank of India, which contributed the entire paid-up capital.

Q5. Where is the corporate office of Micro Units Development and Refinance Agency (MUDRA) Bank?
(a) Kolkata
(b) Bengaluru
(c) Mumbai
(d) New Delhi
(e) Chennai

S5. Ans.(c)
Sol. Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution has been corporate office in Mumbai.

Q6. The amount invested in Kisan Vikas Patra(KVP) would get doubled in ________ months.
(a) 100
(b) 105
(c) 110
(d) 115
(e) 113

S6. Ans.(e)
Sol. The amount invested in Kisan Vikas Patra would get doubled in 113 months. The interest rate of KVP is 7.6 per cent annually.

Q7. Which of the following holds majority stake in NABARD?
(a) RBI
(b) Government Of India
(c) IRDAI
(d) SEBI
(e) None of the given options is true

S7. Ans.(b)
Sol. National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India, having headquarters in Mumbai, Maharashtra. RBI sold its stake in NABARD to the Government of India, which now holds 99.60% stake.

Q8. The Regional Rural Banks were owned by _________
(a) Central Government
(b) State Government
(c) Sponsor Banks
(d) All of the Above
(e) None of the given options is true

S8. Ans.(d)
Sol. The Regional Rural Banks were owned by the Central Government, the State Government and the Sponsor Bank. Central Government-50%, State Government- 15% and Sponsor Banks- 35%.

Q9. Authorised capital of National Payments Corporation of India (NPCI) is _________ and paid up capital is _______
(a) Rs 300 crore and Rs 100 crore
(b) Rs 350 crore and Rs 50 crore
(c) Rs 200 crore and Rs 100 crore
(d) Rs 100 crore and Rs 50 crore
(e) Rs 600 crore and Rs 500 crore

S9. Ans.(a)
Sol. NPCI was incorporated in December 2008 and the Certificate of Commencement of Business was issued in April 2009. It was incorporated as a Section 25 company under Companies Act 1956 (now Section 8 of Companies Act 2013) and is aimed to operate for the benefit of all the member banks and their customers. The authorized capital was pegged at Rs 300 crore and paid up capital was Rs 100 crore. The aim is to create infrastructure of large dimension and operate on high volumes resulting in payment services at a fraction of the present cost structure.

Q10. The 5-year National saving certificate has the interest rate of- 
(a) 7.1%
(b) 7.2%
(c) 8.1%
(d) 8.2%
(e) 7.9%

S10. Ans.(e)
Sol. National Savings Certificates, popularly known as NSC, is an Indian Government Savings Bond, primarily used for small savings and income tax saving investments in India. These can be purchased from any Post Office in India by an adult (either in his/her own name or on behalf of a minor), a minor, a trust, and two adults jointly. These are issued for five and ten year maturity and can be pledged to banks as collateral for availing loans. Currently the 5-year National saving certificate has the interest rate of 7.9%.

Q11. Maximum limit (amount) that can be invested in Kisan Vikas Patra (KVP) Certificate is?
(a) Rs.100
(b) Rs.200
(c) Rs.500
(d) No limit
(e) Rs.1500

S11. Ans.(d)
Sol. KVP certificates are available in the denominations of Rs 1000, Rs 5000, Rs 10000 and Rs 50000. The minimum amount that can be invested is Rs 1000. However, there is no upper limit on the purchase of KVPs.

Q12. Financial Intelligence Unit – India (FIU-IND) was set by the Government of India on 18th November ________ as the central national agency responsible for receiving, processing, analyzing and disseminating information relating to suspect financial transactions. 
(a) 2004
(b) 2005
(c) 2006
(d) 2007
(e) 2008

S12. Ans.(a)
Sol. Financial Intelligence Unit – India (FIU-IND) was set by the Government of India vide O.M. dated 18th November 2004 as the central national agency responsible for receiving, processing, analyzing and disseminating information relating to suspect financial transactions. FIU-IND is also responsible for coordinating and strengthening efforts of national and international intelligence, investigation and enforcement agencies in pursuing the global efforts against money laundering and related crimes. 

Q13. FIU-IND is an independent body reporting directly to the Economic Intelligence Council (EIC) headed by-
(a) President of India
(b) NITI Aayog 
(c) Governor of RBI
(d) Finance Minister
(e) Government of India

S13. Ans.(d)
Sol. Financial Intelligence Unit – India (FIU-IND) was set by the Government of India vide O.M. dated 18th November 2004 as the central national agency responsible for receiving, processing, analyzing and disseminating information relating to suspect financial transactions. FIU-IND is also responsible for coordinating and strengthening efforts of national and international intelligence, investigation and enforcement agencies in pursuing the global efforts against money laundering and related crimes. FIU-IND is an independent body reporting directly to the Economic Intelligence Council (EIC) headed by the Finance Minister.

Q14. The record of all economic transactions between the residents of a country and the rest of the world in a particular period is known as?
(a) Balance in Current Account
(b) Balance in Capital Account
(c) Trade Settlements
(d) Balance of Trade
(e) Balance of Payments

S14. Ans.(e)
Sol. The balance of payments (BOP) is the method countries use to monitor all international monetary transactions at a specific period of time. A record of all transactions made between one particular country and all other countries during a specific time period.

Q15. Public Debt Management Agency (PDMA) is being to set up to prevent leakages and development of the-
(a) Treasury Market
(b) Bond Market
(c) Money Market
(d) Capital Market
(e) Call Money Market

S15. Ans.(b)
Sol. The Finance Ministry has set up a Public Debt Management Cell (PDMC) with a view to streamline government borrowings and better cash management with the overall objective of deepening bond markets.

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