The Reserve Bank of India was established on _______.
Answer: A
On April 1, 1935 the Reserve Bank of India, which is the central bank of this country, was established. It was originally started as a shareholders' bank with a share capital of Rs. 5 crore divided into shares of Rs. 100 each, fully paid-up. But since January, 1949 the Reserve Bank has been nationalised and it is now purely a concern of the State. The Government of India holds the entire share capital of the bank which has been acquired by payment of compensation to the shareholders.
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Punjab National Bank was established in ________.
Answer: B
Punjab National Bank is an Indian financial services company based in New Delhi founded in 1894.
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According to which issue of guidelines did the RBI grant approval for the setting up of 13 new privately-owned domestic banks?
Answer: C
Subsequent to the issue of guidelines in January 1993 for the entry of new private sector banks, the RBI granted approval for the setting up of 13 new privately-owned domestic banks.
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When was the Oriental Life Insurance Company established?
Answer: A
The first life insurance company started functioning in India was Oriental Life Insurance Company.
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What is the full form of 'MAT'?
Answer: B
The intent of introducing MAT was to ensure that no taxpayer with substantial income can avoid tax liability by using exclusions, deductions and incentives.
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Now who decides the monetary policy of India?
Answer: C
Monetary Policy Committee
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Which of the following is not a public sector bank in India?
Answer: B
Federal Bank Limited is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala.
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Which of the following is true about the restrictions on RBI?
(i) It is not to compete with the commercial banks.
(ii) It is not allowed to pay interest on its deposits.
(iii) It cannot engage directly or indirectly in trade.
(iv) It cannot acquire or advice loans against immovable property.
(v) It is prohibited from purchasing its own shares or the shares of any other bank or any company or granting loans on such security.
Answer: C
Certain restrictions have been imposed on the Reserve Bank as it is a central bank. It is not to compete with the commercial banks. It is not allowed to pay interest on its deposits. It cannot engage directly or indirectly in trade. It cannot also acquire or advice loans against immovable property. It is also prohibited from purchasing its own shares or the shares of any other bank or any company or granting loans on such security.
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Which of the following term is not related to banking sector?
Answer: B
Forex Reserve is the short form of Foreign Exchange Reserve which is the collection of foreign currency.
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India is a member of the International Monetary Fund since _____
Answer: C
Since March, 1934 India is a member of the International Monetary Fund. It has to, therefore, maintain its rate of exchange at the level which it has declared to the IMF. The Reserve Bank takes suitable measures to maintain the value of the rupee at this declared level.
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