Quiz on Banking Awareness

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Number of Questions: 10

1. DRI scheme provides bank loan at a concessional rate of interest to low income people in rural areas for productive / self employment ventures. What does D denotes in DRI?
   A) Deprived
   B) Derivative
   C) Debit
   D) Differential
   
   View answer

   Option D
   Explanation: Differential Rate of Interest (DRI) Scheme
2. Which bank was merged with PNB in 1993?
   A) Oriental Bank of Commerce
   B) New Bank of India
   C) Punjab and Sind Bank
   D) Vijaya Bank
   
   View answer

   Option B
   
3. The Reserve Bank of India (RBI) was nationalized in which year?
   A) January 1, 1935
   B) April 1, 1935
   C) January 1, 1949
   D) April 1, 1949
   
   View answer

   Option C
   Explanation: The RBI Act came into force on January 1, 1935. The RBI was inaugurated on April 1, 1935 as a shareholders’ institution. The RBI was nationalized on January 1, 1949.
4. The DBS Bank Ltd. has its headquarter at______________
   A) Singapore
   B) Qatar
   C) United States
   D) Germany
   
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   Option A
   
5. When the repo rate increases, borrowing from RBI becomes ___________
   A) Less expensive
   B) Has no effect
   C) More expensive
   D) Either B or C
   
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   Option C
   Explanation: Repo (Repurchase) rate also known as the benchmark interest rate is the rate at which the RBI lends money to the commercial banks for a short-term
6. How many local boards of the Reserve Bank of India are there?
   A) 3
   B) 4
   C) 2
   D) 1
   
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   Option B
   Explanation:One each for the four regions of the country in Mumbai, Calcutta, Chennai and New Delhi
7. Which among the following is not the function of the SEBI?
   A) Manager of Foreign Exchange
   B) Issuer of Securities
   C) Protect the interests of investors in securities
   D) Promoter of Securities Market
   
   View answer

   Option A
   
8. Which of these is not regulated by the Reserve Bank of India?
   A) Primary Cooperative Banks (PCBs)
   B) Central Cooperative Banks (CCBs)
   C) Primary Agricultural Credit Societies (PACSs) 
   D) State Cooperative Banks (StCBs)
   
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   Option C
   Explanation:Primary Agricultural Credit Societies (PACSs) are not banks but only societies. PACS are outside the purview of the Banking Regulation Act, 1949 and hence not regulated by the Reserve Bank of India.
9. The headquarter of the Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) is located in which city?
   A) Kolkata
   B) Bengaluru
   C) Mumbai
   D) Chennai
   
   View answer

   Option B
   
10. What is the authorized capital of the Deposit Insurance and Credit Guarantee Corporation (DICGC)?
    A) Rs 200 crore
    B) Rs 500 crore
    C) Rs 100 crore
    D) Rs 50 crore
    
    View answer

    Option D
    Explanation: The authorized capital of the Corporation is 50 crore, which is fully issued and subscribed by the Reserve Bank of India (RBI).

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