Which one of the following does not belong to the main products of life insurance?
Answer: B
Whole life, Endowment, Term, Investment-linked, Life annuity plan, Medical and health are the main products of life insurance. Motor insurance, Fire/House owners/Householders insurance, Personal accident insurance, Medical and health insurance, Travel insurance are the main products of general insurance.
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Which among the following is the act of taking on a risk for a fee?
Answer: D
Underwriting is provided by a bank, insurer or investment house.
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Which bank was baptised as the State Bank of India?
Answer: B
The Imperial Bank of India was baptised as State Bank of India followed by the formation of 7 associate banks in 1959. Recognising the fact that banking plays a crucial role in the economic development of a country, the Government of India nationalised 14 major commercial banks in July 1969. Another six commercial banks were nationalised in April 1980 in order to bring commercial banks into the mainstream of economic development with definite social obligations and objectives
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When was the Insurance Regulatory and Development Authority constituted?
Answer: D
The Insurance Regulatory and Development Authority (IRDA) was set up as an autonomous body under the IRDA Act, 1999.
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The subsidiary banks attached to the State Bank are:
(i) State Bank of Bikaner and Jaipur (ii) State Bank of Hyderabad (iii) State Bank of Indore
(iv) State Bank of Mysore (v) State Bank of Patiala (vi) State Bank of Saurashtra
(vii) State Bank of Travancore
Answer: C
The State Bank has seven subsidiary banks attached to it.
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Which of the following sentence is not correct?
Answer: B
RBI’s headquarter is in Mumbai.
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Which among the following is called the rate of interest charged by RBI for lending money to various commercial banks by rediscounting of the bills in India?
Answer: A
It is also referred to as the discount rate.
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When was the Export Credit Guarantee Corporation of India established?
Answer: B
On 30 July 1957, Export Credit Guarantee Corporation of India Ltd. ( ECGC ) was established. It provides export credit insurance facilities to exporters and banks in India. It functions under the administrative control of Ministry of Commerce & Industry.
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When did the Government of India set up the Export-Import Bank of India?
Answer: A
In January, 1982 recognising the importance of exports in India's development programmes, the Government of India set up the Export-Import Bank of India as a statutory corporation owned completely by the Union Government.
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Oudh Commercial Bank was founded in _______.
Answer: D
Oudh Commercial Bank, the first bank with limited liability managed by Indians, was founded in 1881.
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