BANKING SYSTEM MCQS SET 31

BANKING SYSTEM MCQS SET 31

301) Which one of the following is not a feature of Limited Liability Partnership firm?
A) Partners should be less than 20
B) Partnership and management need not be separate
C) Internal governance may be decided by mutual agreement among partners
D) It is a corporate body with perpetual succession
Answer: Partners should be less than 20


    
302) Which of the following is NOT an agency service undertaken by commercial banks?
A) Income-tax Consultancy
B) Issuance of Traveller's Cheques and Credit Cards
C) Acts as Correspondent
D) Execution of Standing Orders
Answer: Issuance of Traveller's Cheques and Credit Cards


    
303) Which of the following statements is/are correct?
1. NIFTY is based upon 50 firms in India.
2. NIFTY is governed and regulated by the Reserve Bank of India.
3. NIFTY does not trade in mutual funds
Select the correct answer using the code given below:
A) 1 only
B) 2 only
C) 3 only
D) 1 and 3
Answer: 1 only


    
304) Private Sector Mutual Funds in India were permitted in
A) 1964
B) 1993
C) 1994
D) 2001
Answer: 1993


    
305) Which of the following statements regarding Regional Rural Banks (RRB) in India is/are correct?
1. The basic aim of setting up the RRBs is to develop rural economy.
2. The area of RRBs is limited to a specific region comprising one or more districts.
3. RRBs are sponsored by Commercial Banks.
Select the correct answer using the code given below:
A) 1 only
B) 1 and 2 only
C) 2 and 3 only
D) 1, 2 and 3
Answer: 1 and 2 only



306) Consequent 'upon the recommendations of the Working Group on Rural Banks, 5 Rural
Regional Banks were initially set up in the year
A) 1973
B) 1974
C) 1975
D) 1976
Answer: 1975

    

307) In India, which of the following have the highest share in the disbursement of credit to
agriculture and allied activities?
A) Commercial Banks
B) Cooperative Banks
C) Regional Rural Banks
D) Microfinance Institutions
Answer: Commercial Banks

    

308) Which of the following is NOT a feature of Savings bank account?
A) It is opened by individuals for the purpose of saving a part of their income.
B) Service Charges are payable in case of Saving Account.
C) It is operated by salary earners, small traders and others.
D) It earns a nominal rate of interest. At present, it is about 5% pa. (in India)
Answer: Service Charges are payable in case of Saving Account.

    

309) Special Drawing Rights (SDRs) facility is available at:
A) World Bank (WB)
B) International Development Association (IDA)
C) International Monetary Fund (IMF)
D) Organisation of Economic Cooperation and Development (OECD)
Answer: International Monetary Fund (IMF)

    

310) Which unit of valuation is known as 'paper. gold'?
A) Eurodollar
B) Petrodollar
C) SDR
D) GDR
Answer: SDR