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Quiz 383: India’s Finance, Banking & Economy for All Examinations

1. National Physical Laboratory is located at:
[A] Mumbai
[B] Pune
[C] Hyderabad
[D] New Delhi

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Correct Answer: D [New Delhi]
2. In which year the Bank of Baroda entered the capital market with an Initial Public Offering (IPO)?
[A] 1990
[B] 1992
[C] 1995
[D] 1996

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Correct Answer: D [1996]
3. Which among the following function of RBI gives most clear indication that it is Bankers’ Bank in India?
[A] Issuance of Currency
[B] Ways & means advances
[C] Liquidity Adjustment Facility
[D] Maintenance of Currency Chests

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Correct Answer: C [Liquidity Adjustment Facility]
Notes:
Issuance of currency makes RBI the sole agent of the government to issue currency notes, Ways and means advances are advances to the state and central government, Maintenance of currency chests comes under currency management, Collection of credit information is related to regulation of borrowers, Liquidity adjustment facility is the most appropriate option which gives an indication of RBI working as bankers` Bank.
4. In context with banking in India, March 16, 1949 is a date which marks:
[A] Establishment of RBI
[B] Nationalization of RBI
[C] Banking Regulation act coming in Force
[D] Nationalization of Banks

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Correct Answer: C [Banking Regulation act coming in Force]
5. A Rs. 50 note with a * (star) in the number panel between the prefix and the serial number indicates that _________?
[A] This note has special security features
[B] This note was printed in a press outside India
[C] This note was printed by RBI to replace a defectively printed banknote
[D] This note is printed on international quality paper

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Correct Answer: C [This note was printed by RBI to replace a defectively printed banknote]
6. Consider the following: 
1. International Monetary Fund 
2. Word Bank 
3. World Trade Organization
4. US Treasury Department 
5. US Federal Bank 
Which among the above institutions were a part of Washington Consensus?
[A] 1 & 2
[B] 1, 2 & 3
[C] 1,2 & 4
[D] 1,2,3,4

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Correct Answer: C [1,2 & 4]
7. Hundies are normally __________?
[A] Cheque
[B] Bills of Exchanges
[C] Bills of Purchase
[D] Bills of Lading

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Correct Answer: B [Bills of Exchanges]
8. The Union Bank of India would like to use an account of State bank of India in Citibank of New York in dollars. For Union Bank of India it is a _________?
[A] NOSTRO account
[B] VOSTRO Account
[C] LORO Account
[D] Forex Account

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Correct Answer: C [LORO Account]
9. Which among the following body publishes Incoterms?
[A] World Trade Organization
[B] International Chamber of Commerce
[C] World Bank
[D] International Monetary Fund

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Correct Answer: B [International Chamber of Commerce]
10. In which of the following situations, the current ratio, net working capital and debt equity ratio of a Bank will improve?
[A] If the bank realizes book debts in cash
[B] If the bank issues rights shares
[C] If the Bank issues bonus shares
[D] If the bank revalues its fixed assets

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Correct Answer: B [If the bank issues rights shares]