Banking and Financial Institutions MCQ Questions and Solutions with Explanations

Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7 Section 8 Section 9 Section 10 Section 11

81.
In which year LIC was established?

A. 1948

B. 1956

C. 1964

D. 1972

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82.
Assets which has remained NPA for a period less than or equal to 12 months is called as:

A. Substandard Assets

B. Loss Assets

C. Doubtful Assets

D. None of these

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83.
In order to encourage investment in the country, the RBI may

A. reduce CRR

B. increase CRR

C. sell securities in the open market

D. increase bank rate

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84.
Uncertain events are broadly classified as:

A. predictable and unpredictable

B. possible and impossible

C. natural and artificial

D. rare and continuous

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85.
The Unit Trust of India (UTI) came into existence in

A. 1960

B. 1964

C. 1968

D. 1972

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86.
The powers of the Board of Directors to borrow from the bank are mentioned in

A. Article of Association

B. Memorandum of Association

C. Special Resolution

D. Both A and B

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87.
Which of the following is not true about Immediate Payment Service (IMPS)?

A. IMPS offers an instant, 24X7, interbank electronic fund transfer service through mobile phones

B. The facility is provided by National Payments Corporation of India through its existing NFS switch

C. Internet Banking Account facilitates IMPS to transfer money to any account

D. To use IMPS, both the account holder and beneficiary needs to have Mobile Money Identifier (MMID)

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88.
Money which performs the functions as medium of exchange is called-

A. commodity money

B. accounting money

C. real money

D. none of the above

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89.
Match the following.

List-I List-II

a. Reserve Bank of India 1. 1975

b. Nationalisation of 14 major commercial banks 2. 1935

c. Nationalisation of 6 commercial banks 3. 1969

d. Regional Rural Banks 4. 1980

A. a-1, b-3, c-2, d-4

B. a-3, b-2, c-4, d-1

C. a-4, b-3, c-1, d-2

D. a-2, b-3, c-4, d-1

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90.
Which one of the following statement is incorrect?

A. ATMs are part of virtual banking

B. A smart card is also known as Integrated Circuit Card (ICC)

C. Credit card is a way to 'pay now', a debit card is a way to 'pay later'

D. Debit cards are known as check cards

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1 2 3 4 5 6 7 8 9 10

List-I	List-II
a. Reserve Bank of India	1. 1975
b. Nationalisation of 14 major commercial banks	2. 1935
c. Nationalisation of 6 commercial banks	3. 1969
d. Regional Rural Banks	4. 1980

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

81. In which year LIC was established?

Answer & Solution

82. Assets which has remained NPA for a period less than or equal to 12 months is called as:

Answer & Solution

83. In order to encourage investment in the country, the RBI may

Answer & Solution

84. Uncertain events are broadly classified as:

Answer & Solution

85. The Unit Trust of India (UTI) came into existence in

Answer & Solution

86. The powers of the Board of Directors to borrow from the bank are mentioned in

Answer & Solution

87. Which of the following is not true about Immediate Payment Service (IMPS)?

Answer & Solution

88. Money which performs the functions as medium of exchange is called-

Answer & Solution

89. Match the following. List-I List-II a. Reserve Bank of India 1. 1975 b. Nationalisation of 14 major commercial banks 2. 1935 c. Nationalisation of 6 commercial banks 3. 1969 d. Regional Rural Banks 4. 1980

Answer & Solution

90. Which one of the following statement is incorrect?

Answer & Solution

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81.
In which year LIC was established?

82.
Assets which has remained NPA for a period less than or equal to 12 months is called as:

83.
In order to encourage investment in the country, the RBI may

84.
Uncertain events are broadly classified as:

85.
The Unit Trust of India (UTI) came into existence in

86.
The powers of the Board of Directors to borrow from the bank are mentioned in

87.
Which of the following is not true about Immediate Payment Service (IMPS)?

88.
Money which performs the functions as medium of exchange is called-

89.
Match the following.

List-I List-II

a. Reserve Bank of India 1. 1975

b. Nationalisation of 14 major commercial banks 2. 1935

c. Nationalisation of 6 commercial banks 3. 1969

d. Regional Rural Banks 4. 1980

90.
Which one of the following statement is incorrect?