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A.K.

Series-01/2017
Banking Awerness Special
Q1.Softbank has made its biggest investment in an Indian digital
enterprise by sealing a funding round of Rs 9,000 crore ($1.4 billion)
in mobile payments provider Paytm. Softbank is based in-
(a) Austria
(b) Japan
(c) Hong Kong
(d) China
(e) Russia

Q2. Which among the following banks has entered into a


Memorandum of Understanding (MoU) with Life Insurance
Corporation (LIC) of India for selling life insurance products of LIC?
(a) Kotak Mahindra Bank
(b) Axis Bank
(c) ICICI Bank
(d) State Bank of India
(e) Karnataka Bank

Q3. HDFC Life has announced the launch of an artificial intelligence-


based application 'SPOK' that can automatically read, understand,
categorise, prioritise and respond to customer emails sent to the
private insurer. Where is the corporate office of HDFC life?
(a) Nainital
(b) Jaipur
(c) Mumbai
(d) New Delhi
(e) Ahmedabad

Q4. Which bank has launched a new trading platform called Selfie
for customers in association with Geojit?
(a) Federal Bank
(b) IDFC Bank
(c) Kotak Mahindra Bank
(d) HDFC Bank
(e) ICICI Bank

Q5. _____________ and IFFCO rolled out their first set of co-branded
debit cards for farmers as part of a novel initiative to push
digitalisation and cashless economy.
(a) SIDBI
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A.K.Series-01/2017
Banking Awerness Special
(b) SBI
(c) PNB
(d) BOB
(e) NABARD

Q6. The Employees Provident Fund Organisation (EPFO) has


approved hike in investment limit in ETFs to 15% from the existing
10%. What is the meaning of "T" in ETFs?
(a) Traded
(b) Transit
(c) Truncated
(d) Transfer
(e) Total

Q7. India has signed a loan agreement of 36 million dollars with the
World Bank for Himachal Pradesh Public Financial Management
Capacity Building Programme. Who is present President of World
Bank?
(a) Tedros Adhanom Ghebreyesus
(b) Jim Yong Kim
(c) Takehiko Nakao
(d) Christine Lagarde
(e) Jin Liqun

Q8. Which Bank has entered into a distribution agreement to sell the
mutual fund products of HDFC Capital Asset Management Ltd
(HDFCAML) during exchanged the memorandum of understanding in
Mangaluru, Karnataka?
(a) State Bank of India
(b) Karur Vysya Bank
(c) Karnataka Bank
(d) Kotak Mahindra Bank
(e) ICICI Bank

Q9. The Reserve Bank of India will soon put into circulation currency
notes in ____________ denomination.
(a) three rupee
(b) four rupee
(c) two rupee
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A.K.Series-01/2017
Banking Awerness Special
(d) one rupee
(e) ten rupee

Q10. __________ and the World Bank has announced that they had
financed 100 MW of rooftop solar projects worth Rs400 crore in
India.
(a) RBI
(b) BOB
(c) ICICI
(d) PNB
(e) SBI

Q11. India's Gross Domestic Product (GDP) grew ___________ year-


on-year during the January-March, 2017 period according to
government data.
(a) 6.7 per cent
(b) 6.5 per cent
(c) 6.3 per cent
(d) 6.9 per cent
(e) 6.1 per cent

Q12. The GST Council has cleared the pending rules, including
transition provisions and returns, with all the States agreeing to the
July 01st 2017 rollout of the tax. What is the meaning of "S" in GST?
(a) Solutions
(b) Semester
(c) System
(d) Services
(e) Sending

Q13. The Reserve Bank of India has initiated PCA for Dena Bank in
view of high net non-performing assets and negative return on
assets. PCA stands for-
(a) Prompt Collection Action
(b) Prompt Corrective Agency
(c) Prompt Corrective Action
(d) Prompt Corrective Association
(e) Permanent Corrective Action
.

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A.K.Series-01/2017
Banking Awerness Special
Q14. Which among the following Banks is going to develop as many
as 100 digital villages in various States of the country as part of its
initiative to promote digital banking among the rural population?
(a) UCO Bank
(b) Vijaya Bank
(c) Corporation Bank
(d) Bank of India
(e) Central Bank of India

Q15. Leading bourse National Stock Exchange (NSE) has launched


its international exchange in the Gujarat International Finance Tec-
City (GIFT City). Where is the corporate office of NSE?
(a) Mumbai
(b) New Delhi
(c) Bengaluru
(d) Hyderabad
(e) Nagpur

Q16. Fiscal policy is concerned with which of the following?


(a) Public Revenue and Expenditure
(b) Issue of Currency
(c) Export Import
(d) Population Control
(e) Education for all

Q17. In which of the following types of banking, there is a direct execution of


the transaction between a bank and its consumers?
(a) Retail Banking
(b) Universal Banking
(c) Virtual Banking
(d) Unit Banking
(e) None of the given options is true

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Banking Awerness Special
Q18. Loans against the security of shares, debentures and bonds should not
exceed the limit of Rupees ____________ per individual if the securities are
held in physical form.
(a) two lakhs
(b) five lakhs
(c) ten lakhs
(d) fifteen lakhs
(e) twenty lakhs

Q19. In the case of failed ATM transactions, if the amount is not credited to
customers account within 7 working days from the date of receipt of the
complaint. Banks have to pay compensation at the rate of Rs.________ per
day.
(a) 150
(b) 200
(c) 100
(d) 10
(e) 50

Q20. Which of the following is known as Demat account?


(a) Account in which shares are held in electronic form
(b) Account opened with zero balance
(c) Account allowed to be operated by guardian of minor
(d) Account operated by business correspondents in rural centres.
(e) None of the given options is true

Q21. The Aadhaar-Enabled Payment Systems (AEPS) is a bank led model


that facilitates banking facilities by allowing transactions at Point of Sale
through the Business Correspondent (BC) using the Aadhaar authentication
number. Aadhaar enabled basic types of banking do not include-
(a) Balance Enquiry
(b) Cash Withdrawal
(c) Online Payment
(d) Cash Deposit
(e) Aadhaar to Aadhaar funds transfer

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Banking Awerness Special
Q22. Loans against the security of shares, debentures and bonds should not
exceed the limit of Rupees _______________ per individual if the securities
are held in dematerialised form.
(a) ten lakhs
(b) five lakhs
(c) thirty lakhs
(d) fifty lakhs
(e) twenty lakhs

Q23. The process by which the central bank of a country controls the supply
of money in the economy by exercising its control over interest rates in order
to maintain price stability and achieve high economic growth is known as?
(a) Economic Policy
(b) Monetary Policy
(c) Fiscal Policy
(d) Credit Policy
(e) Budgetary Policy

Q24. Who amongst the following is the regulator in the financial system of the
country?
(a) CERC
(b) SEBI
(c) CRISIL
(d) TRAN
(e) None of the given options is true

Q25. Bank Holidays are covered by which of the following?


(a) As per the order of the GOI
(b) As per the order of the IBA
(c) Negotiable Instruments Act
(d) RBI Act
(e) Banking Regulation Act 1949

Q26. What is the purpose of KYC in banking?


(a) It is used for customer identification
(b) It is used for increasing the CRR of banks
(c) It is used for money laundering
(d) It is used by the central bank to control liquidity
(e) Both (a) and (c)

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A.K.Series-01/2017
Banking Awerness Special
Q27. Which of the following types of cards is free from credit risk?
(a) Credit card
(b) Debit Card
(c) Prepaid Cards
(d) Charge Cards
(e) Both (c) and (d)

Q28. FATF is an inter-governmental body established in __________ by the


Ministers of its Member jurisdictions.
(a) 1999
(b) 1976
(c) 1982
(d) 1995
(e) 1989

Q29. Where is the headquarter of FATF?


(a) New York, USA
(b) Paris, France
(c) Geneva, Switzerland
(d) Italy, Rome
(e) Vienna, Austria

Q30. Headquarters of National Council of Applied Economic Research


(NCAER) is located in ______
(a) Mumbai
(b) New Delhi
(c) Hyderabad
(d) Chennai
(e) Kolkata

Q31. e-KYC is possible only for those who have _______


(a) PAN Card
(b) Driving License
(c) Ration Card
(d) Aadhaar Number
(e) None of the given options is true

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Banking Awerness Special
Q32. ____________ is a system that powers multiple bank accounts into a
single mobile application (of any participating bank), merging several banking
features, seamless fund routeing & merchant payments into one hood.
(a) NEFT
(b) RTGS
(c) NPCI
(d) BHIM
(e) UPI

Q33. Banks can not generally accept interest-free deposits. Which of the
following is an exception to this rule?
(a) Current Account
(b) Savings Account of Minors
(b) Deposit from Minority groups
(c) BSBDA
(e) None of the given options is true

Q34. Deposits under Foreign Currency Non-Resident (FCNR) scheme can be


accepted for a minimum of-
(a) Six months
(b) Three months
(c) One year
(d) 15 days
(e) Five Years

Q35. What is the meaning of a bond issued by an Indian company expressed


in foreign currency, and the principal and interest in respect of which is
payable in foreign currency?
(a) ECB
(b) FCCBs
(c) Automatic Route
(d) FCNR
(e) None of the given options is true

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Banking Awerness Special
Q36. Deposits under Foreign Currency Non-Resident (FCNR) scheme can be
accepted for a maximum of-
(a) one year
(b) three year
(c) five year
(d) seven year
(e) nine year

Q37. What is the full form of FCCB?


(a) Foreign Currency Convertible Bond
(b) Foreign Currency Credit Bond
(c) Financial Consortium and Credit Bureau
(d) Future Credit and Currency Bureau
(e) None of the given options is true

Q38. Which of the following institutions is responsible for the supervision of


RRBs?
(a) RBI
(b) SEBI
(c) NABARD
(d) GOI
(e) Both (a) and (c)

Q39. By which rate is the domestic current rate of currency converted into
foreign currency?
(a) Bank Rate
(b) CRR
(c) Stock Exchange Rate
(d) Repo Rate
(e) Exchange Rate

Q40. Which of the following works is/are done by Credit Information


Companies?
(a) Collecting records of an individuals payments pertaining to loans
(b) Maintaining records of an individuals payments pertaining to credit cards
(c) Creating Credit Information Reports
(d) All of the Above
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Banking Awerness Special
Q41. On 07th October 2015, Ujjivan Financial Services Private Ltd has
received an in-principle approval from the RBI to set up a small finance bank.
Where is headquarter of Ujjivan Financial Services Private Ltd small finance
bank?
(a) Kochin
(b) Jaipur
(c) Mumbai
(d) Chennai
(e) Bengaluru

Q42. Name the India's first credit rating agency, is incorporated, promoted by
the erstwhile ICICI Ltd, along with UTI and other financial institutions.
(a) CRISIL
(b) CIBIL
(c) ICRA
(d) All of the above
(e) None of the given options is true

Q43. ICRA Limited (formerly Investment Information and Credit Rating


Agency of India Limited) was set up in _________ by leading
financial/investment institutions, commercial banks and financial services
companies as an independent and professional Investment Information and
Credit Rating Agency.
(a) 2004
(b) 1999
(c) 1995
(d) 1987
(e) 1991

Q44. The largest shareholder of a Public Sector Banks (PSBs) is?


(a) RBI
(b) Government of India
(c) NABARD
(d) All of the Above
(e) Finance Ministry

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Banking Awerness Special
Q45. The Foreign Exchange of India is kept with-
(a) SBI
(b) ECGC
(c) RBI
(d) NABARD
(e) None of the given options is true

Q46. ECGC Limited (Export Credit Guarantee Corporation of India Ltd) is a


company wholly owned by?
(a) RBI
(b) Government of India
(c) IRDAI
(d) NABARD
(e) Finance Ministry

Q47. The Headquarters of Kotak Mahindra Bank is located in _______


(a) Mumbai
(b) Hyderabad
(c) Chennai
(d) Bangaluru
(e) New Delhi

Q48. Minimum amount that can be invested in Kisan Vikas Patra(KVP)


Certificate is _________
(a) Rs.100
(b) Rs.200
(c) Rs.500
(d) Rs.1000
(e) Rs.1500

Q49. National Housing Bank (NHB), a wholly owned subsidiary of_________


(a) RBI
(b) Government Of India
(c) IRDAI
(d) State Government
(e) NABARD

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Q50. Where is the corporate office of Micro Units Development and
Refinance Agency (MUDRA) Bank?
(a) Kolkata
(b) Bengaluru
(c) Mumbai
(d) New Delhi
(e) Chennai

Q51. The amount invested in Kisan Vikas Patra(KVP) would get doubled in
________ months.
(a) 100
(b) 105
(c) 110
(d) 115
(e) 113

Q52. Which of the following holds majority stake in NABARD?


(a) RBI
(b) Government Of India
(c) IRDAI
(d) SEBI
(e) None of the given options is true

Q53. The Regional Rural Banks were owned by _________


(a) Central Government
(b) State Government
(c) Sponsor Banks
(d) All of the Above
(e) None of the given options is true

Q54. The Banking Ombudsman is a senior official appointed by..............?


(a) Indian Government
(b) President of India
(c) Chief Justice of India
(d) Reserve Bank of India
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Q55. Authorised capital of National Payments Corporation of India (NPCI) is
_________ and paid up capital is _______
(a) Rs 300 crore and Rs 100 crore
(b) Rs 350 crore and Rs 50 crore
(c) Rs 200 crore and Rs 100 crore
(d) Rs 100 crore and Rs 50 crore
(e) Rs 600 crore and Rs 500 crore

Q56. Maximum limit (amount) that can be invested in Kisan Vikas Patra (KVP
) Certificate is?
(a) Rs.100
(b) Rs.200
(c) Rs.500
(d) No limit
(e) Rs.1500

Q57. Financial Intelligence Unit India (FIU-IND) was set by the Government
of India on 18th November ________ as the central national agency
responsible for receiving, processing, analyzing and disseminating
information relating to suspect financial transactions.
(a) 2004
(b) 2005
(c) 2006
(d) 2007
(e) 2008

Q58. FIU-IND is an independent body reporting directly to the Economic


Intelligence Council (EIC) headed by-
(a) President of India
(b) NITI Aayog
(c) Governor of RBI
(d) Finance Minister
(e) Government of India

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A.K.Series-01/2017
Banking Awerness Special
Q59. The record of all economic transactions between the residents of a
country and the rest of the world in a particular period is known as?
(a) Balance in Current Account
(b) Balance in Capital Account
(c) Trade Settlements
(d) Balance of Trade
(e) Balance of Payments

Q60. Public Debt Management Agency (PDMA) is being to set up to prevent


leakages and development of the-
(a) Treasury Market
(b) Bond Market
(c) Money Market
(d) Capital Market
(e) Call Money Market

Q61. Fiscal policy is concerned with which of the following?


(a) Public Revenue and Expenditure
(b) Issue of Currency
(c) Export Import
(d) Population Control
(e) Education for all

Q62. In which of the following types of banking, there is a direct execution of


the transaction between a bank and its consumers?
(a) Retail Banking
(b) Universal Banking
(c) Virtual Banking
(d) Unit Banking
(e) None of the given options is true

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Banking Awerness Special
Q63. Loans against the security of shares, debentures and bonds should not
exceed the limit of Rupees ____________ per individual if the securities are
held in physical form.
(a) two lakhs
(b) five lakhs
(c) ten lakhs
(d) fifteen lakhs
(e) twenty lakhs

Q64. In the case of failed ATM transactions, if the amount is not credited to
customers account within 7 working days from the date of receipt of the
complaint. Banks have to pay compensation at the rate of Rs.________ per
day.
(a) 150
(b) 200
(c) 100
(d) 10
(e) 50

Q65. Which of the following is known as Demat account?


(a) Account in which shares are held in electronic form
(b) Account opened with zero balance
(c) Account allowed to be operated by guardian of minor
(d) Account operated by business correspondents in rural centres.
(e) None of the given options is true

Q66. The Aadhaar-Enabled Payment Systems (AEPS) is a bank led model


that facilitates banking facilities by allowing transactions at Point of Sale
through the Business Correspondent (BC) using the Aadhaar authentication
number. Aadhaar enabled basic types of banking do not include-
(a) Balance Enquiry
(b) Cash Withdrawal
(c) Online Payment
(d) Cash Deposit
(e) Aadhaar to Aadhaar funds transfer
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Banking Awerness Special
Q67. Loans against the security of shares, debentures and bonds should not
exceed the limit of Rupees _______________ per individual if the securities
are held in dematerialised form.
(a) ten lakhs
(b) five lakhs
(c) thirty lakhs
(d) fifty lakhs
(e) twenty lakhs

Q68. The process by which the central bank of a country controls the supply
of money in the economy by exercising its control over interest rates in order
to maintain price stability and achieve high economic growth is known as?
(a) Economic Policy
(b) Monetary Policy
(c) Fiscal Policy
(d) Credit Policy
(e) Budgetary Policy

Q69. Who amongst the following is the regulator in the financial system of the
country?
(a) CERC
(b) SEBI
(c) CRISIL
(d) TRAN
(e) None of the given options is true

Q70. Bank Holidays are covered by which of the following?


(a) As per the order of the GOI
(b) As per the order of the IBA
(c) Negotiable Instruments Act
(d) RBI Act
(e) Banking Regulation Act 1949

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Banking Awerness Special
Q71. What is the purpose of KYC in banking?
(a) It is used for customer identification
(b) It is used for increasing the CRR of banks
(c) It is used for money laundering
(d) It is used by the central bank to control liquidity
(e) Both (a) and (c)

Q72. Which of the following types of cards is free from credit risk?
(a) Credit card
(b) Debit Card
(c) Prepaid Cards
(d) Charge Cards
(e) Both (c) and (d)

Q73. FATF is an inter-governmental body established in __________ by the


Ministers of its Member jurisdictions.
(a) 1999
(b) 1976
(c) 1982
(d) 1995
(e) 1989

Q74. Where is the headquarter of FATF?


(a) New York, USA
(b) Paris, France
(c) Geneva, Switzerland
(d) Italy, Rome
(e) Vienna, Austria

Q75. Headquarters of National Council of Applied Economic Research


(NCAER) is located in ______
(a) Mumbai
(b) New Delhi
(c) Hyderabad
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(d) Chennai
(e) Kolkata

Q76. The Reserve Bank of India (RBI) has granted in-principle approval to
the ________ applicants to set up small finance banks under the Guidelines
for Licensing of Small Finance Banks?
(a) 11
(b) 12
(c) 13
(d) 10
(e) 15

Q77. The minimum paid-up equity capital for small finance banks shall
be----------
(a) Rs. 100 crore
(b) Rs. 200 crore
(c) Rs. 300 crore
(d) Rs. 400 crore
(e) Rs. 500 crore

Q78. Reserve Bank of India has granted the in-principle licence for small
finance banks. The in-principle approval granted by RBI will be valid for a
period of ________ months.
(a) 24 months
(b) 10 months
(c) 18 months
(d) 50 months
(e) 12 months

Q79. Where is the headquarter of AU Small Finance Bank?


(a) Jalandhar, Punjab
(b) Ahmedabad, Gujarat
(c) Guwahati, Assam
(d) Bengaluru, Karnataka
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(e) Jaipur, Rajasthan

Q80. RBI was granted a licence to small Finance Banks for the
commencement of banking business under Section ______ of the Banking
Regulation Act, 1949.
(a) Section 38(3)
(b) Section 22(1)
(c) Section 47(4)
(d) Section 12(2)
(e) Section 27(5)

Q81. The foreign shareholding in the small finance bank would be as per the
FDI policy for _______________ as amended from time to time.
(a) Private Sector Banks
(b) Public Sector Banks
(c) Foreign Sector Banks
(d) Regional Rural Banks
(e) All of the above

Q82. The promoter's minimum initial contribution to the paid-up equity capital
of such small finance bank shall at least be ---------?
(a) 50 per cent
(b) 40 per cent
(c) 60 per cent
(d) 30 per cent
(e) 20 per cent

Q83. Small Finance Banks will be required to extend ________ of its ANBC
to the sectors eligible for classification as priority sector lending (PSL) by the
Reserve Bank.
(a) 55%
(b) 35%
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(c) 75%
(d) 50%
(e) 10%

Q84. The small finance bank will be subject to all prudential norms and
regulations of RBI as applicable to existing commercial banks including the
requirement of maintenance of CRR and SLR. What is the present rate of
SLR?
(a) 20.75 per cent
(b) 19.75 per cent
(c) 20.25 per cent
(d) 20.50 per cent
(e) 21.25 per cent

Q85. FDI is an investment made by a company or individual in one country in


business interests in another country. FDI stands for-
(a) Foreign Direct Industries
(b) Fully Direct Investment
(c) Foreign Department Investment
(d) Foreign Direct Installment
(e) Foreign Direct Investment

Q86. What is the full form of ANBC in Banking?


(a) Adjusted Net Bank Cash
(b) Adjusted Net Bank Control
(c) Adjusted Net Bank Core
(d) Adjusted Net Bank Conclusion
(e) Adjusted Net Bank Credit

Q87. Who is the chairman of the board of AU Small Finance Bank?


(a) Ganeshan Neelakanta Iyer
(b) Sher Bahadur Deuba
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(c) K G Karmakar
(d) Mannil Venugopalan
(e) Shashi Shekar Vempati

Q88. Who was the chairperson of the External Advisory Committee (EAC) for
Small Finance Banks?
(a) Deepak Phatak
(b) MS Sahoo
(c) Usha Thorat
(d) Nachiket M Mor
(e) M Balachandran

Q89. Utkarsh Micro Finance Limited is registered with Reserve Bank of India
as Non-Banking Finance Company-MFI (NBFC-MFI). Where is the registered
office and corporate office of Utkarsh Micro Finance Limited?
(a) Dehradun, Uttarakhand
(b) Varanasi, Uttar Pradesh
(c) Bhagalpur, Bihar
(d) Siliguri, West Bengal
(e) Puri, Odisha

Q90. Reserve Bank of India (RBI) has granted the in-principle licence for
small finance banks. Which among the following is true about small finance
banks?
(a) Undertake basic banking activities of acceptance of deposits and lending
(b) Allowed to set up subsidiaries to undertake non-banking financial activities
(c) Allowed to distribute mutual fund products, insurance products and
pension products
(d) All of the above
(e) Both (b) and (a)

Q91. The concept of insuring deposits kept with banks received attention for
the first time in the year ___________ after the banking crises in Bengal.
(a) 1941
(b) 1933
(c) 1961
(d) 1948
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(e) 1919

Q92. The Deposit Insurance Corporation (DIC) Bill was introduced in the
Parliament on August 21, 1961. After it was passed by the Parliament, the Bill
got the assent of the President on December 7, 1961 and the Deposit
Insurance Act, 1961 came into force on January 01st-
(a) 1962
(b) 1975
(c) 1956
(d) 1949
(e) 1935

Q93. The Reserve Bank of India was promoted a public limited company on
January 14th 1971, named the CGCI. What was the meaning of first "C" in
CGCI?
(a) Common
(b) Conclusion
(c) Corporation
(d) Concept
(e) Credit

Q94. The DIC Bill was introduced in the Parliament on August 21st 1961.
What is the meaning of "D" in DIC?
(a) Distance
(b) Development
(c) Deposit
(d) Demand
(e) None of the above

Q95. DICGC stands for-


(a) Deposit Investment and Credit Guarantee Corporation
(b) Deposit Insurance and Credit Guarantee Corporation
(c) Deposit Insurance and Credit Guarantee Company
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(d) Demand Insurance and Credit Guarantee Corporation
(e) Deposit Installment and Credit Guarantee Corporation

Q96. NPA is a loan or an advance where interest and/or installment of


principal remain overdue for a period of more than ______ days in respect of
a term loan.
(a) 100 days
(b) 30 days
(c) 90 days
(d) 60 days
(e) 120 days

Q97. NPA is a loan or an advance where?


(a) the instalment of principal or interest there on remains overdue for one
crop season for long duration crops.
(b) the account remains out of order in respect of an Overdraft/Cash Credit
(OD/CC).
(c) the installment of principal or interest there on remains overdue for two
crop seasons for short duration crops.
(d) All of the above
(e) None of the above

Q98. The purpose of MUDRA is to provide funding to the non-corporate small


business sector through various Last Mile Financial Institutions like-
(a) Banks
(b) NBFCs
(c) MFIs
(d) All of the above
(e) None of the above

Q99. MUDRA Bank, a Non Banking Finance Company as MUDRA Ltd has
been set up as a subsidiary of............?
(a) SIDBI
(b) IDBI
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(c) RBI
(d) NABARD
(e) SBI

Q100. In which among the following year Asia's first Export Processing Zone
(EPZ) was set up?
(a) 1959
(b) 1971
(c) 1965
(d) 1956
(e) 1975

With all the Best wishes to JMGS-1 & TO Aspirants 2017

Anish Khan
SBI, IIT Delhi

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