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Test: Banking in India - 1 - Bank Exams MCQ


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10 Questions MCQ Test SBI PO Prelims & Mains Preparation - Test: Banking in India - 1

Test: Banking in India - 1 for Bank Exams 2024 is part of SBI PO Prelims & Mains Preparation preparation. The Test: Banking in India - 1 questions and answers have been prepared according to the Bank Exams exam syllabus.The Test: Banking in India - 1 MCQs are made for Bank Exams 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Banking in India - 1 below.
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Test: Banking in India - 1 - Question 1

Scheduled Banks are included in the _____________ schedule of the RBI Act, 1934.

Detailed Solution for Test: Banking in India - 1 - Question 1

Banks that are included in the second schedule of the RBI Act, 1934 are considered to be scheduled Banks.

Test: Banking in India - 1 - Question 2

What is the minimum paid-up capital a bank must have to be eligible for inclusion in the Reserve Bank of India Act, 1934's Second Schedule to attain Scheduled Banks’ status?

Detailed Solution for Test: Banking in India - 1 - Question 2

Banks that are classified in Schedule II of the Reserve Bank of India Act, 1934 are referred to as scheduled banks. To qualify as a scheduled bank, the bank's paid-up capital and raised funds must total at least Rs. 5 lakhs. These banks are eligible for low-interest RBI loans.

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Test: Banking in India - 1 - Question 3

What is the authorized capital of Regional Rural Banks?

Detailed Solution for Test: Banking in India - 1 - Question 3

The authorized capital of RRBs – Rs. 5 crores

Test: Banking in India - 1 - Question 4

When was the Cooperative Credit Societies Act of 1904 amended to allow non-credit societies to be formed under the Mc Lagan Committee to access their performance?

Detailed Solution for Test: Banking in India - 1 - Question 4

The Cooperative Credit Societies Act of 1904 was amended in 1912 to allow non-credit societies to be formed. The Maclagan Committee was formed in 1915 to assess their performance and provide recommendations for improvement.

Test: Banking in India - 1 - Question 5

The Local Area Bank Scheme was introduced in August 1996. What is the minimum Paid-up capital required for setting up Local Area Banks?

Detailed Solution for Test: Banking in India - 1 - Question 5

The Local Area Bank Scheme was introduced in August 1996. The minimum start-up capital of a LAB was fixed at Rs.5 crores.

Test: Banking in India - 1 - Question 6

Which of the following bank is not an example of a Private Sector Bank?

Detailed Solution for Test: Banking in India - 1 - Question 6

Central Bank of India is the only Public sector bank is in this list

Test: Banking in India - 1 - Question 7

Which of the following is the function of Banks in India?
i) Acceptance of deposits from the public
ii) Issue of drafts
iii) Lending Money to people in the form of Loan
iv) Transfer of Funds

Detailed Solution for Test: Banking in India - 1 - Question 7
  • Accepting public deposits
  • Providing a demand withdrawal facility
  • Lending facility
  • Money transfers
  • Distribution of draughts
  • Make lockers available to clients.
  • Managing foreign exchange
Test: Banking in India - 1 - Question 8

Which committee has been tasked with reviewing the progress of the implementation of banking reforms since 1992 to further strengthen Indian financial institutions?

Detailed Solution for Test: Banking in India - 1 - Question 8

The Narasimham II Commission has been tasked with reviewing the progress of the implementation of banking reforms since 1992 to further strengthen Indian financial institutions.

Test: Banking in India - 1 - Question 9

_______ is a measure of the cash and other assets banks have available to quickly pay bills and meet short-term business and financial obligations.

Detailed Solution for Test: Banking in India - 1 - Question 9

Liquidity is a measure of the cash and other assets banks have available to quickly pay bills and meet short-term business and financial obligations. Liquidity is the basis of the well-being of financial institutions, especially banks. It guarantees the smooth functioning of financial markets and thus determines the growth and development of banks.

Test: Banking in India - 1 - Question 10

Uttar Pradesh has the highest number of Regional Rural Banks operating in India. Which of the following states have no Regional Rural Banks in India?

Detailed Solution for Test: Banking in India - 1 - Question 10

Uttar Pradesh has the highest number at 36 branches of RRB, followed by Madhya Pradesh at 19 RRB and Bihar at 16 RRB. Goa and Sikkim do not have RRB.

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