Financial Reforms and Banking Innovation
Exam Duration: 45 Mins Total Questions : 30
A lot of Banks in India these days are offering M-abnking Facility to their customers. What is the full form 'M' in 'M'-Banking?
- (a)
Money
- (b)
Marginal
- (c)
Message
- (d)
Mutual Fund
- (e)
Mobile Phone
Which of the following is the limitation of the ATMs owing to which people are required to visit branches of the bank?
I. It does not accept deposits
II. It has a limited cash disbursement capacity
III. Lack of human interface
Select the correct answer using the codes given below
- (a)
Only I
- (b)
Only II
- (c)
Only III
- (d)
III, II and I
- (e)
None of these
A Bank/Finacial Organisation these days relies heavily on e-commerce for its transaction. As a part of system security, it has introduced the organisation's security awareness manual. This step of the organisation can be classified under, which one of the following categories of measures for a business?
- (a)
Preventive
- (b)
Compliance
- (c)
Corrective
- (d)
Detective
- (e)
None of these
Which of the following banks has opened the country's first, 'Cash Factory' in Lucknow which will issue currency notes to all its branches and ATM in that area?
- (a)
Bank of India
- (b)
Bank of Baroda
- (c)
State Bank of India
- (d)
Union Bank of India
- (e)
None of these
A-card stores and provide identification, authentication, data storage adn application processing applications
- (a)
Debit Card
- (b)
Smart Card
- (c)
Credit Card
- (d)
ATM Card
- (e)
None of the above
The YH Malegam committee, which Submitted its report a few months back, was set-up to report on further improvement of functioning of
- (a)
Micro Finance Institutions
- (b)
Stock Exchanges in India
- (c)
Cooperative Banks
- (d)
Regional Rural Banks
- (e)
Foreign banks having offices in India
In respect of which one of the following areas, YH Malegam Committee has submitted its recommendations?
- (a)
Interest on Micro finance loans
- (b)
Teaser loans
- (c)
Rural development
- (d)
Advances to agriculture
- (e)
None of these
A centralised database with online connectivity to branches, Internet as well as ATM network which has adopted by almost all major banks of our country is known as?
- (a)
Investment banking
- (b)
Core banking
- (c)
Mobile banking
- (d)
National banking
- (e)
Specialised banking
Which of the following is not banking/finance related term?
- (a)
Credit warp
- (b)
EMI
- (c)
Help to Maturity
- (d)
Exposure limit
- (e)
Diffusion
Which of the following acts is specially launched to facilitate banks in recovery of bad loans?
- (a)
RBI Act
- (b)
Banking Regulation Act
- (c)
Companies Act
- (d)
Income Tax Act
- (e)
SARFAESI Act
Which of the following is/was not included in the agenda set for the banking reforms in India?
- (a)
Dismantling of administered interest rates
- (b)
Measures to strengthen risk management
- (c)
Promulgation of Sarfaesi Act
- (d)
Promotion of the concept of easy credit all with a guaranteed subsidy from the government
- (e)
granting of operational autonomy to public sector banks and allowing them to raise capital from the open market
Structure of Basel II based on how many pillars?
- (a)
Two
- (b)
Ten
- (c)
Four
- (d)
Five
- (e)
Three
In which of the following fund transfer mechanisms, can funds be moved from one bank to another and where transaction is settled instantly without being bunched with any other transaction?
- (a)
RTGS
- (b)
NEFT
- (c)
TT
- (d)
EFT
- (e)
MT
Narsimham Committee recommended to reduce SLR and CLR to
- (a)
25% and 3.5% respectively
- (b)
24% and 3.5% respectively
- (c)
25% and 3% respectively
- (d)
20% and 5% respectively
- (e)
25% and 5% respectively
Which of the following is not a recommendation of the Narsimham Committee, 1991
- (a)
Reduction of CRR and SLR
- (b)
Phasing out directed credit programme
- (c)
Reduction of Capital Adequacy Ratio
- (d)
Establishment of ARF Fund
- (e)
Autonomy to public Sector Bank
Which of the following banks have entered capital market in the wake of Narasimham Committee recommendations?
- (a)
State Bank of India
- (b)
Oriental Bank of Commerce
- (c)
Bank of India
- (d)
All of the above
- (e)
None of the above
The Narsimham Committee-II was set-up to suggest some recommendations for improvement in the
- (a)
efficiency and productivity of the financial institution
- (b)
banking reform process
- (c)
export of IT sector
- (d)
fiscal reform process
- (e)
None of the above
One of the major challenges banking industry is facing days is money laundering. Which of the following acts/norms are launched by the banks to prevent money laundering in general?
- (a)
Know Your Customer Norms
- (b)
Banking Regulation Act
- (c)
Negotiable Instrument Act
- (d)
Narcotics and Psychotropic Substance Act
- (e)
None of the above
A working group on transactions and E-cheques was constituted by the Reserve Bank of India under the chairmanship of Dr RBBarman and major recommendations of group include
- (a)
the physical cheque will be truncated within the presenting bank
- (b)
settlement will be generated on the basis of current MICR code line data
- (c)
electronic images will be used for payment processing
- (d)
All of these
- (e)
None of these
Which of the following are the other recommendation made by the working group?
- (a)
Grey scale technology will be deploy for imaging
- (b)
Images will be preserved for eight years
- (c)
A centralised agency per clearing location will act as an image warehouse for the banks
- (d)
Both 1 and 2
- (e)
All of these
Which of the following is/was not included in the agenda set for Banking Reforms in India?
- (a)
Dismantling of administered interest rated
- (b)
Measures to strengthen risk management
- (c)
Promulgation of SARFAESI Act
- (d)
Promotion of the concept of easy credit to all with a guaranteed subsidy from the government
- (e)
Granting of operational autonomy to public sector banks and allowing them to raise capital from the open market
Insurance companies in India are regulated by
- (a)
AMFI
- (b)
IRDA
- (c)
SEBI
- (d)
RBI
- (e)
NABARD
Department of economic Affairs is past of which of the following Ministries?
- (a)
Ministry of Home Affairs
- (b)
Ministry of Rural Development
- (c)
Ministry of Planning
- (d)
Ministry of Heavy Industries and Public Enterprises
- (e)
None of the above
When banks accept of fixed sum of money from an individual for a definite term and pay on maturity with interest, the deposit is known?
- (a)
Term deposit
- (b)
Demand deposit
- (c)
Bond
- (d)
Mortagage
- (e)
Advance
Which of the following is a leading electronic payment technology firm? (The logo of the firm can be seen printed on credit cards/ATM centres etc.
- (a)
Visa
- (b)
Max
- (c)
BSE
- (d)
Sensex
- (e)
SWAP
Which of the following is not a scheduled Commercial Banks?
- (a)
IDBI Bank
- (b)
Axis Bank
- (c)
HDFC Bank
- (d)
NABARD
- (e)
Kodak Mahindra Bank
What is the full form of 'CRR' as used in banking sector?
- (a)
Crucial Reserve Rate
- (b)
Cash Reserve Ratio
- (c)
Compulsory Return Rate
- (d)
Credit and Reserve Ratio
- (e)
None of the above
Many Regional Rural Banks are given licence to open branches in small cities and towns. These licenses are given by
- (a)
Cabinet Committee on economic affairs
- (b)
Reserve Bank of India
- (c)
NABARD
- (d)
Indian Banks' Association
- (e)
None of the above
Which of the following organization/agencies is not associated with the world of banking and finance?
- (a)
SEBI
- (b)
AMFI
- (c)
RBI
- (d)
ECGC
- (e)
SPCA
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests Act at present is not applicable to
- (a)
public sector banks
- (b)
private banks
- (c)
non-banking financial companies
- (d)
financial institutes of the government
- (e)
None of the above