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1) Under which of the following sections of RBI Act, 1934 the process of notes Re-issue is defined?
a) Section 20
b) Section 27
c) Section 8
d) Section 24
e) Section 42
2) ____________is not a ‘Retail Deposit Product’ in the Indian retail banking segment.
a) Savings Bank Account
b) Zero Balance Account
c) Credit Cards
e) Recurring Deposit Account
3) What is the maximum period for which NBFCs can accept the public deposits which are not repayable on demand?
a) 12 months
b) 20 months
c) 30 months
d) 60 months
e) None of the above
4) GSTIN is a 15-digit tax registration number under GST. The first two number in GSTIN denotes ______.
a) Default number
b) Object Code
c) State Code
d) Checksum digit
e) Service code
5) ___________ cannot work as ‘Business Correspondence (BC)’ as per ‘Reserve Bank of India (RBI)’ guidelines.
a) Retired government employees
b) Agents of small saving schemes of Government of India
c) Post Offices
d) Petrol Pump owners
6) Kusheshwar Asthan Bird Wildlife Sanctuary is located in___________.
e) Himachal Pradesh
7) What is the currency of Vietnam?
8) ________is a joint military exercise between India and Bangladesh.
b) Yudh Abhyas
e) Nomadic Elephant
9) Salal dam is located on _______ river in Jammu and Kashmir state.
10) Kaptan Singh Solanki is the governor of which Indian state?
1) Answer: b)
Section 27 of the RBI Act 1934 defines the process of notes Re-issue.
Section 8- The composition of central board of Reserve Bank of India
Section 20- Obligation of the Bank to transact Government business.
Section 24-Denomination of Notes
Section 42- Cash reserves of scheduled banks to be kept with the Bank
2) Answer: c)
Retail Deposit Products offered in the Indian retail banking segment are,
- Savings Account
- Recurring Deposit Account
- Current Deposit Account
- Term Deposit Account
- Zero Balance Account
- Basic Savings Bank Deposit Account (BSBDA)
- Senior Citizen Deposit Accounts etc.
Credit Card is a retail loan product.
3) Answer: d)
The NBFCs can take the public deposits for a minimum period of 12 months and the maximum period of 60 months. They cannot accept deposits repayable on demand.
They are registered under the Companies Act, 1956 and deals in the business of loans and advances, investments in bonds/shares/debentures/stock and other marketable securities.
4) Answer: c)
The first two-digit in Goods and Services Taxpayer Identification Number (GSTIN) denotes State Code.
GSTIN is a 15-digit number is like the Tax Identification Number that is allotted to business entities registered under a state’s Value Added Tax law.
- The next 10 digits – Taxpayer’s PAN number.
- The thirteenth digit – Assigned based on the number of registrations within a state
- Fourteenth digit – Z by default
- Last digit -Checksum digit code.
5) Answer: e)
The banks may engage the following individuals/entities as ‘Business Correspondence (BC)’,
- Individuals like retired bank employees, retired teachers, retired government employees and ex-servicemen, individual owners of Kirana / medical /Fair Price shops, individual Public Call Office (PCO) operators, agents of Small Savings schemes of Government of India/Insurance Companies, individuals who own Petrol Pumps, authorized functionaries of well-run ‘Self-Help Groups (SHGs)’ which are linked to banks, any other individual including those operating Common Service Centres (CSCs).
- NGOs/ MFIs set up under Societies/ Trust Acts and Section 25 Companies;
- Cooperative Societies registered under Mutually Aided Cooperative Societies Acts/ Cooperative Societies Acts of States/Multi State Cooperative Societies Act;
- Post Offices;
- Companies registered under the Indian Companies Act, 1956 with large and widespread retail outlets, excluding ‘Non-Banking Financial Companies (NBFCs)’.
NBFCs cannot work as ‘Business Correspondence (BC)’
6) Answer: c)
Kusheshwar Asthan Bird Wildlife Sanctuary is located in Bihar.
Abubshehar WLS- Haryana
Khijadiya Bird WLS- Gujarat
Achanakmar WLS- Chhattisgarh
Gamgul Siyabehi WLS- Himachal Pradesh
7) Answer: a)
The currency of Vietnam is Dong.
8) Answer: a)
Sampriti is a joint military exercise between India and Bangladesh.
Yudh Abhyas- India & USA
Maitree – India & Thailand
Indra- India & Russia
Nomadic Elephant- India & Mongolia
9) Answer: a)
‘Salal Dam’ known as Salal Hydroelectric Power Station, is a run-of-the-river power project on the Chenab River in the Indian state of Jammu and Kashmir.
Baglihar Dam is also located on the Chenab river.
Ratle dam is under construction on the Chenab river.
10) Answer: d)
Kaptan Singh Solanki is the Governor of Tripura and an Indian politician of the Bharatiya Janata Party. He inaugurated the 37th edition of the Agartala book fair on 16th February 2019.