BANKING SYSTEM MCQS SET 01

BANKING SYSTEM MCQS SET 01

1) The first Bank established in India was :
A) Punjab National Bank
B) Traders Bank
C) State Bank of India
D) Bank of Hindustan
Answer: Bank of Hindustan
    
2) In India, the first bank of limited liability managed by Indians and founded in 1881 was :
A) Hindustan Commercial Bank
B) Oudh Commercial Bank
C) Punjab National Bank
D) Punjab and Sind Bank
Answer: Oudh Commercial Bank

    
3) Which amidst the following rural banks has been named after a reviver?
A) Prathama Bank
B) Varada Grameen Bank
C) Thar Anchalik Grameen Bank
D) Aravalli Kshetriya Grameen Bank
Answer: Varada Grameen Bank

    
4) A Scheduled Bank is one which is included in the :
A) II Schedule of Banking Regulation Act
B) II Schedule of Constitution
C) II Schedule of Reserve Bank of India Act
D) None of the above
Answer: II Schedule of Reserve Bank of India Act
    
5) What is the animal on the insignia of the RBI?
A) Lion
B) Tiger
C) Panther
D) Elephant
Answer: Tiger

6) For regulation of the Insurance Trade in the country the Government has formed :
A) SEBI
B) Reserve Bank of India
C) Insurance Regulatory and Development Authority
D) General Insurance Corporation
Answer: Insurance Regulatory and Development Authority
    
7) The best way a bank can avoid loss is to :
A) lend only to individuals known to the bank
B) accept should collateral
C) give only short-term loans
D) lend only to bank's old customers
Answer: accept should collateral
    
8) The system of value added taxation is applicable to :
A) excise duties
B) income tax
C) estate duty
D) taxes on agricultural income
Answer: excise duties
    
9) In order to be scheduled to the Reserve Bank of India, a bank should have capital and reserve of not less than :
A) 1 lakh
B) 5 lakhs
C) 10 lakhs
D) 50 lakhs
Answer: 5 lakhs

    
10) The number of Banks nationalised since 1969 is :
A) 8
B) 12
C) 14
D) 20
Answer: 14