Tuesday, March 19, 2019

AHSEC - CLASS 11: BANKING MULTIPLE CHOICE QUESTIONS AND ANSWERS

Multiple Choice Questions
1. The banking Regulation Act was passed in the year 1949. (Fill in the gap)
2. What do you mean by Barter system?
Ans: The system in which goods are exchanged for goods is known as Barter System. It is a system in which goods and services are exchanged without the use of money.
3. State a characteristic of inflation.

Ans: Increase in prices: Inflation is a process of uninterrupted increase in prices. It is always accompanied by persistent rise in price level.
4. RRBs were started in the year 1967 / 1975 / 1976. (Choose the correct answer)
Ans: 1975
5. In which year Co-operative Credit System was introduced?
Ans: 1990
6. Who is authorised to issue notes in India?
Ans: RBI, Except one rupee coin which is issue by Ministry of Finance
7. Write the full form of ATM.
Ans: Automated Teller Machine
8. Write the name of the Central Bank of our country.
Ans: Reserve Bank of India
9. In which year ‘Central Bank’ in India was established?
Ans: 1935
10. The ‘Imperial Bank of India Act’ was passed in ____. (Fill in the blank)
Ans: 1920
11. What is inflation?
Ans: Ans: Inflation simply means a continuous increase in general price level. It can be described as a decline in the real value of money.
12. State the meaning of e-banking.
Ans: The banking services that are provided by a bank through network of computers or internet service to the customers for performing banking transactions in a better way is known as E-Banking.
13. What is Investment Bank?
Ans: Investment Banks: Investment Banks are those banks which are specialized in provide medium and long term financial assistance to business and industry. They are also known as Industrial Banks as they are mainly concerned with industrial finance.
14. Write the full form of NABARD.
Ans: National Bank for Agriculture and Rural Development
15. All the ATMs are open for 12/18/24 hours. (Choose the correct answer)
Ans: 24 hours
16. Explain who is a minor.
Ans: Ans: A person who has not attained or completed the age of 18 years is known as Minor. A Minor is not capable of entering into a valid contract and a contract entered into by a minor is void.
17. In which year were the Presidency Banks of India amalgamated?
Ans: 1921
18. The Banking Regulation Act was passed in the year 1949. [Fill in the blank]
19. Overdraft facility can be availed in current/savings/fixed deposit account. [Choose the correct answer]
20. Mention the names of the Presidency Banks?
Ans: (i) The Bank of Bengal (1809). (ii) The Bank of Bombay (1840) and (iii) The Bank of Madras (1843).
21. In which year the Imperial Bank of India came into existence?
Ans: On 27th January 1921.
22. In which year the Imperial Bank of India was nationalized?
Ans: On July 1, 1955, renamed as State bank of India
23. In which year the RBI act was passed?
Ans: The RBI act was passed in 1934.
24. In which year RBI came into existence?
Ans: The RBI came into existence on April 1935.
25. In which year the RBI nationalized?
Ans: The RBI was nationalized under the Reserve Bank (Transfer to public ownership) act 1948, on January 1, 1949.
26. How many members are there in the Central Board of the director of the RBI?
Ans: 20
27. How many local Boards are there in the organizations structures of RBI?
Ans: Four
28. Who appointed the Government of RBI?
Ans: The Central Government.
29. What is the name of the Central Bank of India? When was established?
Ans: The Reserve Bank of India, 1935.
30. When was the State Bank of India was recognized as the commercial bank?
Ans: 1955.
31. Which is the largest commercial bank of India?           
Ans: The State Bank of India previously known as Imperial Bank of India
32. When was the first development banks set up in India?
Ans: In 1948 with the Industrial Finance Corporation of India.
33. Name some development banks of India.
Ans: Industrial Development Bank of India (IDBI), National Bank for Agriculture and Rural Development (NABARD), Small Industries Development Bank of India (SIDBI), State Industrial Development Corporation (SIDC), State Financial Corporation (SFC), etc.
34. Name two development banks that have been working in the north-eastern states.
Ans: North East Development Finance Corporation and Assam Financial Corporation.
35. When and where the first Investment Banks were established?
Ans: The first Investment Banks was established in Germany in the year 1850.
36. Which bank is known as the “Entrepreneur of Entrepreneurs”?
Ans: Investment Bank.

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