MUMBAI UNIVERSITY IDOL MCQ QUESTION BANK WITH ANSWER FOR ONLINE EXAM TYBA Indian Financial System

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MUMBAI UNIVERSITY IDOL

 MCQ QUESTION BANK WITH ANSWER

 FOR ONLINE EXAM TYBA

 

Indian Financial System

 

1) ____________ allocates saving efficiently in an economy to ultimate users either for investment in

real assets or for consumption.

a) Economic system

b) Banking system

c) Financial system

d) Market system

2) Which of the following is not a regulatory institution in Indian financial system?

a) RBI

b) CIBIL

c) SEBI

d) IRDA

3) _____________ is regarded as a queen of Indian financial system.

a) SEBI

b) RBI

c) Finance Ministry

d) BSE

4) National Housing bank is a fully owned subsidiary of___________.

a) HDFC

b) HSBC

c) RBI

d) HUDCO

5) Financial institutions are also known as ______________.

a) Financial organization

b) Financial intermediaries

c) Financial system

d) Any of the above

6) ____________is the first development financial institution in India.

a) IDBI

b) ICICI

c) IFCI

d) RBI

7) IDBI was established in ____________.

a) 1948

b) 1954

c) 1992

d) 1964

8) ______________is an apex institution to coordinate, supplement and integrate the activities of all

existing specialized financial institutions.

a) IFCI

b) IDBI

c) RBI

d) SEBI

9) Which of the following is not an asset held by Commercial Banks?

a) Bills of Exchange

b) Current Account Deposits

c) Money Lent at short Notice

d) Credit Balances with the Reserve Bank

10) Which of the following combinations is correct?

a) NABARD--------Industrial Loan

b) RBI---------------Long term Finance

c) RRB---------------Agriculture Finance

d) IDBI---------------Short Term Loans

11) Which of the following is not an organized sector in India?

a) Nationalized Banks

b) Regional Rural Banks

c) Cooperative Banks

d) Chits and Money lenders

12) In which year was the Banking Regulation Act passed?

a) 1949

b) 1955

c) 1959

d) 1969

13) When did the National Bank of Agriculture and Rural Development establish?

a) July, 1982

b) July, 1969

c) June, 1951

d) June, 1961

14) Which of the following is the apex institution which handles refinance for agriculture and rural

development in India?

a) RBI

b) SIDBI

 c) NABARD

d) RBI

15) At which of the following cities is the Head Office of Reserve Bank of India located?

a) Mumbai

b) New Delhi

c) Kolkata

d) Dehradun

16) “Scheduled bank” in India means a bank _____.

a) Incorporated under the Companies Act, 1956

b) Authorized to the Banking business

c) Governed by the Banking Regulation Act, 1949

d) Included in the Second schedule to the Reserve Bank of India Act 1934

17) Which is the largest commercial bank in India?

a) Bank of India

b) Axis Bank

c) State Bank of India

d) HDFC

18) Co-operative Societies Act was enacted in which year?

a) 1912

b) 1949

c) 1935

d) 1913

19) With whom does the ownership of Public sector banks rest?

a) Government of India

b) Jointly with Government of India and share-holders from the public

c) Jointly with Government of India and State Bank of India

d) Jointly with Government of India and Reserve Bank of India

20) In which year was the Bank of Maharashtra established?

a) 1937

b) 1935

c) 1934

d) 1949

21. Who is the central banking authority in India? 

RBI

NABARD

Ministry of Finance

SEBI

Answer: (1)

22. Which among the following is not one of the functions of RBI?

Controlling inflation

Banking Supervision

Lender of last resort

Controlling employment in the country

Answer: (4)

23. To operate as NBFC in India, one has to take license from _____.

SEBI

RBI

MoF

FICCI

Answer: (2)

24. Which among the following financial instruments are dealt by Primary Dealers? 

Bonds

Mutual Funds

Government securities

Debentures

Answer: (3)

25. Name the section that mandate banks to maintain CRR with RBI? 

Section 42(1) RBI Act

Section 24(1) RBI Act

Section 42(1) BR Act

Section 24(1) BR Act

Answer: (1)

26. Which out of the following liquid assets is not a part of SLR? 

Cash

Govt Securities

Gold

Bonds

Answer: (4)

27. Who is the regulator of insurance sector in India? 

SEBI

IRDAI

NABARD

PFRDA

Answer: (2)

28. Name India’s first listed exchange? 

MCX

NSE

BSE

OTC Exchange of India

Answer: (1)

29. MCX deals with trading of ___. 

Stocks

Gold

Commodity futures

None of the Above

Answer: (3)

30. Who provides clearing house facilities for netting of payments and securities delivery? 

Stock exchange

RBI

SEBI

SBI

Answer: (1)

31 LIC was established in........................

A. 1956

B. 1964

C. 1989

D. 1935

ANSWER A.1956

32 --------------is also known as “G.Secs”

A. Gold Traded Fund (GTF)

B. General Securities

C. Govt. Securities

D. Growth oriented fund

ANSWER

C.Govt. Securities

33 Indian financial system comprises of both ———————-and ———————-sector.

Ans. organized and Unorganized sector.

34. SEBI was given legal status in the year————-set up in1988

Ans . 1992

35. Mention one function of underwriters. 

Ans: They ensure the sale of shares or debentures of a company

even before offering to the public.

36. RBI follows ————————— for issuing paper currency note.

Ans. Minimum Reserve System

37. Under —————of the RBI Act, the RBI issues notes.

Ans: Section 22

38. IFCI was the first development bank of India. It was established in ————

Ans. 1948.

39. The bill which does not require any acceptance is called —————

Ans. Promissory Note.

40. The company which sets up a mutual fund is called —————

Ans . Sponsor.

41. Sponsoring ————————-contributes 35% of the total share capital of the Regional Rural Bank.

Ans. commercial bank

(Govt. of lndia=50%, Sponsor banks=35% and State govt=15%)

42. Bank deposit is a non-marketable security. 

Ans. True

43. Government bond is a long-term security. 

Ans .True

44. Credit card is a prepaid card. 

Ans. False

45. The Government of India set up the the Narasimham committee in ————-

Ans. 1991 .

46 Mutual Fund is an AMERICAN concept.

47. A development bank does not accept deposits from———.

Ans. public

48. Industrial development bank of India is a wholly owned subsidiary of—————. 

Ans. RBI. lt was established in 1964.

49. The …………..has been set up to Protect interest of the investors in company and Regulate the working of stock broker.

Ans. SEBI

50. Commercial banks are allowed to enter into insurance business by————————.

Ans. The IRDA Act of 1999

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