Banking Awareness – 2020 for IBPS, RBI, SBI, NABARD and other Bank Examinations
Welcome to GKToday’s Banking Awareness Section. This section shows 100 random questions from GKToday’s Banking Awareness MCQs.
A chapterwise course of all the 925 questions divided into 88 Chapters in Banking Awareness is Available in
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11. The first introduction of Mutual Funds in India occurred in which of the following years?
[A] 1964
[B] 1963
[C] 1987
[D] 1999
Show Answer
Correct Answer: B [1963]
Notes:
The first introduction of a mutual fund in India occurred in 1963, when the Government of India launched Unit Trust of India (UTI).UTI enjoyed a monopoly in the Indian mutual fund market until 1987.
12. Who of the following plays the vital role in setting up of National Housing Bank?
[A] K. R. Puri
[B] Dr. Minoan Singh
[C] C. Rangarajan
[D] None of the Above
Show Answer
Correct Answer: C [C. Rangarajan]
Notes:
A High Level Group under the Chairmanship of Dr. C. Rangarajan was set up under the then Deputy Governor, RBI to examine the proposal and recommended the setting up of National Housing Bank as an autonomous housing finance institution. The recommendations of the High Level Group were accepted by the Government of India.
13. National Housing Bank was set up on July 9, 1988 under which among the following acts?
[A] National Housing Bank Act, 1985
[B] National Housing Bank Act, 1986
[C] National Housing Bank Act, 1987
[D] None of the Above
Show Answer
Correct Answer: C [National Housing Bank Act, 1987]
Notes:
NHB is wholly owned by Reserve Bank of India, which contributed the entire paid-up capital. The Head Office of NHB is at New Delhi. NHB was set up on July 9, 1988 under the National Housing Bank Act, 1987.
14. The credit for availing the first Home Loan goes to which of the following persons in India?
[A] Nandan Nilekani
[B] Rustom Padri
[C] D B Remedios
[D] None of the Above
Show Answer
Correct Answer: C [D B Remedios]
Notes:
The credit for availing the first Home Loan goes to one D B Remedios took a Home Loan of 30,000 from HDFC in 1978 to construct his house in Malad, Mumbai. The total cost of the house was 70,000.
15. What is full form of RXIL?
[A] Receivable Experience of India Limited
[B] Reserve Exchange of India Limited
[C] Receivable Exchange of India Limited
[D] Reserve Exchange of India Location
Show Answer
Correct Answer: C [Receivable Exchange of India Limited]
Notes:
The Receivables Exchange of India Ltd (RXIL), a joint venture promoted by Small Industries Development Bank of India (SIDBI) and the National Stock Exchange of India Limited (NSE) is a great way to get invoices financed. Invoice discounting and financing is a powerful tool to raise capital.
16. Which of the following acts regulates the underwriting process in India?
[A] RBI Act 1934
[B] Securities and Exchanges Board of India (Underwriters) Regulations, 1993.
[C] Securities and Exchange Board of India (Underwriters) (Amendment) Regulations, 2006
[D] Both b and c
Show Answer
Correct Answer: D [Both b and c]
Notes:
The underwriter must get a certificate of registration under the Securities and Exchanges Board of India (Underwriters) Regulations, 1993.These regulations have been further amended by the Securities and Exchange Board of India (Underwriters) (Amendment) Regulations, 2006.
17. Who was the head of review committee on underwriting rules and regulation ?
[A] Shri Vallabh Bhansali
[B] C. Rangarajan
[C] Urjit Patel
[D] Nandan Nilekani
Show Answer
Correct Answer: A [Shri Vallabh Bhansali]
Notes:
Shri Vallabh Bhansali was the head of review committee on underwriting rules and regulations. The SEBI (Underwriters) Rules and Regulations, 1993 deals primarily with issues such as registration, capital adequacy, obligation and responsibilities of the underwriters.
18. Which of the following clearly defines Price Checking?
[A] A prospect calls on the phone and ask for your rental rates.
[B] A supervisor checks your knowledge of rental rates.
[C] Both a and b
[D] None of the Above
Show Answer
Correct Answer: A [A prospect calls on the phone and ask for your rental rates.]
Notes:
A price check is an investigation of the prices charged by different retailers for the same goods to find the best value. All the major supermarkets use price checks to benchmark their pricing against their competitors.
19. What is the full form of FLC?
[A] Financial Leasing Company
[B] Finance Lending Company
[C] Financial Leasing Company of India Limited
[D] None of the Above
Show Answer
Correct Answer: C [Financial Leasing Company of India Limited]
Notes:
First Leasing Company of India Limited (FLC) was set up in 1973. Lease financing has increased with a compound rate of 24% over the period.
20. When did RBI stop acting as the currency issuing authority of Burma?
[A] 1941
[B] 1942
[C] 1943
[D] 1947
Show Answer
Correct Answer: B [1942]
Notes:
The Reserve Bank ceased to be the currency issuing authority of Burma (now Myanmar) in 1942. In 1947, the Reserve Bank stopped acting as banker to the Government of Burma.
