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B Com Exam  >  B Com Tests  >  Test: Indian Banking System - 2 - B Com MCQ

Test: Indian Banking System - 2 - B Com MCQ


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10 Questions MCQ Test - Test: Indian Banking System - 2

Test: Indian Banking System - 2 for B Com 2024 is part of B Com preparation. The Test: Indian Banking System - 2 questions and answers have been prepared according to the B Com exam syllabus.The Test: Indian Banking System - 2 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Indian Banking System - 2 below.
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Test: Indian Banking System - 2 - Question 1
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What is the main objective of establishing cooperative banks?

Detailed Solution for Test: Indian Banking System - 2 - Question 1
Cooperative banks are established with the primary goal of fostering financial inclusion and benefiting the community. Unlike commercial banks that focus on profit maximization, cooperative banks prioritize the needs of their members and the local community they serve. They aim to provide accessible financial services to all sections of society, especially those in rural and underprivileged areas.
Test: Indian Banking System - 2 - Question 2
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What distinguishes cooperative banks from commercial banks in terms of ownership?

Detailed Solution for Test: Indian Banking System - 2 - Question 2
Cooperative banks are unique in that they are owned by their members who are also their customers. This means that individuals who use the bank's services become partial owners and have a say in the bank's decision-making processes. This ownership structure promotes a sense of community and shared responsibility.
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Test: Indian Banking System - 2 - Question 3
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What is the primary focus of rural cooperatives known as "Primary Agricultural Credit Societies"?

Detailed Solution for Test: Indian Banking System - 2 - Question 3
"Primary Agricultural Credit Societies" (PACS) are rural cooperatives that primarily focus on providing credit facilities to farmers at the grassroots level. These societies aim to support the agricultural activities of small and marginal farmers by offering them affordable credit options.
Test: Indian Banking System - 2 - Question 4
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Which regulatory authority oversees the banking activities of Urban Cooperative Banks in India?
Detailed Solution for Test: Indian Banking System - 2 - Question 4
The banking activities of Urban Cooperative Banks in India are regulated by the Reserve Bank of India (RBI). RBI ensures that these banks comply with banking regulations and maintain the required standards to safeguard the interests of depositors and customers.
Test: Indian Banking System - 2 - Question 5
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What issue arises due to the duality in control of Cooperative Banks in India?
Detailed Solution for Test: Indian Banking System - 2 - Question 5
The duality in control, where Cooperative Banks are overseen by both the Registrar of Cooperative Societies (RCS) and the Reserve Bank of India (RBI), leads to ambiguity in power structure and decision-making. This can create conflicts and challenges in governance, impacting the smooth functioning of these banks.
Test: Indian Banking System - 2 - Question 6
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What was the primary motivation behind the establishment of Regional Rural Banks (RRBs) in India?
Detailed Solution for Test: Indian Banking System - 2 - Question 6
The primary motivation behind the establishment of Regional Rural Banks (RRBs) in India was to ensure sufficient institutional credit for agriculture and rural sectors. RRBs aimed to provide credit facilities to small and marginal farmers, promoting agricultural development and rural economic growth.
Test: Indian Banking System - 2 - Question 7
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Which committee recommended the merger of Regional Rural Banks (RRBs) with their sponsor banks?
Detailed Solution for Test: Indian Banking System - 2 - Question 7
The Narsimham Committee recommended the merger of Regional Rural Banks (RRBs) with their sponsor banks. The committee emphasized the need to strengthen the RRBs and improve their sustainability by integrating them with the existing banking framework.
Test: Indian Banking System - 2 - Question 8
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What is the key difference between the ownership structure of cooperative banks and commercial banks?
Detailed Solution for Test: Indian Banking System - 2 - Question 8
The key difference between the ownership structure of cooperative banks and commercial banks is that cooperative banks are owned by their members, who are also their customers. This unique ownership model ensures that the interests of the members and the community are prioritized.
Test: Indian Banking System - 2 - Question 9
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What is the primary goal of cooperative banks in terms of financial services?
Detailed Solution for Test: Indian Banking System - 2 - Question 9
The primary goal of cooperative banks is to foster financial inclusion and benefit the community. Unlike commercial banks that focus on profit generation, cooperative banks aim to provide accessible financial services to all sections of society, especially those in rural and underserved areas.
Test: Indian Banking System - 2 - Question 10
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Which regulatory authority is responsible for overseeing the management and registration activities of cooperative banks in India?
Detailed Solution for Test: Indian Banking System - 2 - Question 10
The management and registration activities of cooperative banks in India are overseen by the Registrar of Cooperative Societies (RCS). This authority ensures that the cooperative banks operate within the legal framework and adhere to the principles of cooperative governance.
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