Banking Quiz for IBPS | SBI – 302
1.Where is the headquarters of CARE (Credit Analysis & Research Ltd.)?
a) Gurugram
b) Mumbai
c) Chennai
d) None of these
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Answer b) Mumbai
CARE Ratings commenced operations in April 1993 and in over 25 years, it has established itself as the second-largest credit rating agency in India. With the rating volume of debt of around Rs. 108.47 lakh crores (as on March 31, 2018) .
2.The cooperative movement in which of the following fields has achieved a great visible success in India?
a) Banking sector
b) Textile sector
c) Cotton production
d) None of these
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Answer b) Textile sector
3.In which year Punjab National Bank was established ?
a) 1880
b) 1887
c) 1894
d) None of these
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Answer c) 1894
Punjab National Bank is a PSU working under Central Government of India regulated by Reserve Bank of India Act, 1934 and Banking Regulation Act, 1949. Punjab National Bank was registered on 19 May 1894 under the Indian Companies Act, with its office in Anarkali Bazaar, Lahore, in present-day Pakistan.
4.SDR, the currency of the IMF, is in the form of-
a) Paper Currency Gold
b) Book Keeping entry only
c) Silver and Gold both
d) None of these
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Answer b) Book Keeping entry only
An SDR is neither paper nor gold but an accounting entry. SDRs are a measure of a country’s reserve assets with IMF and, whereas not ‘money’ in the strict sense, have several characteristics of money as interest bearing assets, store of value, and means of settling indebtedness.
5.In which year did second phase of nationalization of banks took place?
a) 1969
b) 1980
c) 1984
d) None of these
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Answer b) 1980
The government of India issued an ordinance and nationalised the 14 largest commercial banks with effect from midnight of July19,1969(PHASE-1). A second dose of nationalisation of 6 more banks followed in 1980(PHASE-2).
6.What is the maturity period of Treasury Bills issued by Government of India?
a) 14 days and 84 days
b) 18 days and 36 days
c) 91, 182 & 364 days
d) None of these
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Answer c) 91, 182 & 364 days
Treasury bills are issued by government of India. It’s short term investment. It will be matured in 14 or 91 or 182 or 364 days.Nowadays 14 days T-bills are not issued. You’ll get in discounted price and when it will be matured, you’ll get face value.
7.Devaluation of currency results in ____.
a) Increased export and import
b) Increased export and improvement in balance of payment
c) Trade deficit
d) None of these
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Answer b) Increased export and improvement in balance of payment
Exports will increase and imports will decrease due to exports becoming cheaper and imports more expensive. This favors an improved balance of payments as exports increase and imports decrease, shrinking trade deficits. Devaluing the home currency can help correct balance of payments and reduce these deficits.
8.Which one of the following is not an objective of fiscal policy of Indian Government ?
a) Full employment
b) Price stability
c) Regulation of Inter-State-trade
d) None of these
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Answer c) Regulation of Inter-State-trade
The objective of fiscal policy is to maintain the condition of full employment, economic stability and to stabilize the rate of growth. For an under-developed economy, the main purpose of fiscal policy is to accelerate the rate of capital formation and investment.
9.What is the maximum ceiling on Foreign Direct Investment (FDI) for investment in the equity of Public Sector Banks in India ?
a) 20%
b) 26%
c) 49%
d) None of these
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Answer a) 20%
10.Finance Commisson is included in of Indian Constitution.
a) Article 340
b) Article 360
c) Article 280
d) None of these
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Answer c) Article 280
The First Finance Commission was established by the President of India in 1951 under Article 280 of the Indian Constitution.As per the Constitution, the Commission is appointed every five years and consists of a chairman and four other members.
