Banking and Financial Institutions MCQ Questions and Solutions with Explanations

Banking and Financial Institutions MCQ Questions and Solutions with Explanations | Commerce

Banking and Financial Institutions MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Banking and Financial Institutions MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-7 section-6

The only merger between nationalised banks was between New Bank of India and Punjab National Bank in

A) 2003 B) 1993 C) 1997 D) 2000

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Answer & Solution

Answer: Option B

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When was UNCTAD established?

A) 1964 B) 1971 C) 1976 D) 1968

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Answer & Solution

Answer: Option A

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Functions of money is

A) Medium of exchange B) Measurement of value C) Storage of value D) All of these

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Answer & Solution

Answer: Option D

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The commercial banks in India are governed by:

A) Reserve Bank of India Act, 1934 B) Indian Companies Act, 1956 C) Indian Banking Regulation Act, 1949 D) Securities and Exchange Board of India Act, 1993

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Answer & Solution

Answer: Option C

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IDBI and ICICI is an example of

A) Merchant bank B) Financial intermediaries C) Development financial institutions D) Serial capital firms

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Answer & Solution

Answer: Option C

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"Skimming" in e-banking is a method of

A) converting Debit Card into Credit Card B) transferring cash from one account to another account C) stealing credit card information D) intimating the customer about his heavy with drawals

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Answer & Solution

Answer: Option C

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A non-banking institution that has a principal business of receiving deposits under any scheme or arrangement in one lump sum or in instalments by way of contributions is known as:

A) Principal non-banking company B) Residential non-banking company C) Residuary non-banking company D) Optional non-banking company

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Answer & Solution

Answer: Option C

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RTA carries out the redemption processing at its end and provides final redemption information to the exchange on

A) T+2 B) T+1 C) T+3 D) T+4

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Answer & Solution

Answer: Option B

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Narasimham Committee suggested three - four bigger banks in India. Government carried out a massive consolidation process in 2019. Which of the following statement is true in this context?

A) There are six merged public sector banks and six independent public sector banks in India B) SBI is the largest public sector bank in India C) The nationalized banks are almost wholly owned by GOI D) All of the above

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Answer & Solution

Answer: Option D

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CRR in 'C'. . . . . . . . is used for

A) Customer B) Cash C) Commission D) Credit

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Answer & Solution

Answer: Option B

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