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SSC CGL Exam  >  SSC CGL Tests  >  Test: Banking - SSC CGL MCQ

Test: Banking - SSC CGL MCQ


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10 Questions MCQ Test - Test: Banking

Test: Banking for SSC CGL 2024 is part of SSC CGL preparation. The Test: Banking questions and answers have been prepared according to the SSC CGL exam syllabus.The Test: Banking MCQs are made for SSC CGL 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Banking below.
Solutions of Test: Banking questions in English are available as part of our course for SSC CGL & Test: Banking solutions in Hindi for SSC CGL course. Download more important topics, notes, lectures and mock test series for SSC CGL Exam by signing up for free. Attempt Test: Banking | 10 questions in 10 minutes | Mock test for SSC CGL preparation | Free important questions MCQ to study for SSC CGL Exam | Download free PDF with solutions
Test: Banking - Question 1
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What are the two primary functions of a bank mentioned in the introduction?

Detailed Solution for Test: Banking - Question 1
Banks primarily engage in the collection of deposits and the distribution of loans. These functions are crucial for managing the financial transactions of individuals, businesses, and the overall economy.
Test: Banking - Question 2
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Which committee's recommendations guided the substantial reforms in the banking sector in 1991?

Detailed Solution for Test: Banking - Question 2
The substantial reforms in the banking sector in 1991 were guided by the recommendations of the Narasimham Committee, led by Shri. M Narasimham. These reforms aimed to support liberalization and facilitate the growth of the private sector.
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Test: Banking - Question 3
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During which phase did the Nationalisation of banks in India take place?

Detailed Solution for Test: Banking - Question 3
The Nationalisation of banks in India took place during the Nationalisation Phase, spanning from 1969 to 1991. This phase aimed to address concerns related to private-led banks and ensure broader financial inclusion.
Test: Banking - Question 4
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What was the primary objective behind the nationalisation of banks in the Post-Independence Period?
Detailed Solution for Test: Banking - Question 4
The nationalisation of banks in the Post-Independence Period aimed to address the concern that people in rural areas were reliant on money lenders for financial assistance. Nationalisation sought to provide financial inclusion to these areas.
Test: Banking - Question 5
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Which bank, established in 1770, was the first bank in India?
Detailed Solution for Test: Banking - Question 5
The first bank in India was the "Bank of Hindustan," established in 1770 in Calcutta. However, it did not succeed and closed its doors in 1832.
Test: Banking - Question 6
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Which phase of the banking sector's development is considered critical for ensuring the stability and profitability of Nationalised Public Sector Banks?
Detailed Solution for Test: Banking - Question 6
The ongoing phase, the Liberalisation or Banking Sector Reforms Phase (1991 – till date), is considered critical for ensuring the stability and profitability of Nationalised Public Sector Banks.
Test: Banking - Question 7
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What is the distinctive feature of Small Finance Banks?
Detailed Solution for Test: Banking - Question 7
Small Finance Banks have the distinctive feature of not having any geographical restrictions. They primarily focus on basic banking activities and cater to unserved segments.
Test: Banking - Question 8
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What are the two categories of functions performed by the Reserve Bank of India (RBI)?
Detailed Solution for Test: Banking - Question 8

The two categories of functions performed by the Reserve Bank of India (RBI) are: Currency issuance and Monetary policy formulation.

These functions encompass the RBI's role in managing the country's currency and implementing monetary policy to ensure economic stability and growth.

Test: Banking - Question 9
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What type of banking entity is limited to performing only the limited banking functions permitted by the Banking Regulation Act of 1949?
Detailed Solution for Test: Banking - Question 9
Payment Banks are a distinct type of bank that performs only the limited banking functions permitted by the Banking Regulation Act of 1949.
Test: Banking - Question 10
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Which type of bank is primarily owned and operated by its members?
Detailed Solution for Test: Banking - Question 10
Co-operative Banks are financial entities primarily owned and operated by their members, who are also their customers. They often serve specific local or professional communities.
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Important Questions for Banking

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Online Tests for Banking

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