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1) Which of the following is NOT a correct difference between Regional Rural Banks (RRBs) and other commercial banks?
a) Regional Rural Bank is owned by three entities in a fixed ratio
b) Regional Rural Banks are regulated by NABARD whereas other banks are regularised by RBI
c) Regional Rural Banks have a separate law than other banks
d) Regional Rural Banks don’t have to maintain CRR and SLR like other banks.
e) All of the above are correct
2) What is the lock-in period of funds involved in Equity-linked Savings Scheme?
a) No Lock-in Period
b) 2 Years
c) 6 Months
d) 12 Months
e) 3 Years
3) The Directors of RBI has been appointed as the members of Board for Financial Supervision (BFS) for a term of _______ year/s.
4) Which of the following cannot be called as a debt instrument as referred in financial transactions?
a) Certificate of deposits
d) Commercial papers
5) Which bank has become the first public sector bank in India to meet RBI’s EMV mandate?
a) Punjab National Bank
b) IDBI Bank
c) State Bank of India
d) Canara Bank
e) ICICI Bank
6) Pandoh Dam is built on which river?
a) River Sutlej
b) River Tons
c) River Beas
d) River Ravi
e) River Chenab
7) Talle Wildlife Sanctuary is situated in ___________.
c) Arunachal Pradesh
8) Hyderabad is located on the which River in the heart of the Telangana Plateau.
a) Narmada River
b) Penna River
c) Musi River
d) Sutlej River
e) None of these
9) Salal dam is located on _______ river in Jammu and Kashmir state.
10) Aranmula International Airport is situated in which state?
d) Tamil Nadu
e) Andhra Pradesh
1) Answer: e)
Each Regional Rural Bank is owned by three entities with their respective shares as follows: Central Government: 50% State government: 15% Sponsor bank: 35% Regional Rural Banks are regulated by NABARD; which is a subsidiary of RBI.
Other banks are regulated by RBI directly. Regional Rural Banks have a separate law behind them viz. Regional Rural Banks Act, 1976. Regional Rural Banks don’t have to maintain CRR and SLR like other banks.
2) Answer: e)
The lock-in period of investment in Equity Linked Savings Scheme is 3 years.
ELSS is diversified equity mutual funds that invest a major chunk of your money in equity and equity-related securities. Equity funds carry a higher risk of fluctuation in Net Asset Value (NAV).
ELSS funds have the potential to generate higher returns than other investment avenues.
Under section 80C of the Income Tax Act, 1961, Investment in ELSS funds can avail tax deduction of up to ₹ 1.5 Lakh.
3) Answer: c)
The members of the Board for Financial Supervision (BFS) have been appointed for a term of two years.
The Board for Financial Supervision was constituted in November 1994. RBI performs the function of Financial Supervision under the guidance of this Board.
It supervises the financial sector comprising commercial banks, financial institutions and non-banking finance companies.
The Board members are drawn from the members of the Central Board of the Reserve Bank of India. Four Directors of RBI has been appointed as the members for a term of two years. The Board is required to meet normally once every month.
4) Answer: e)
A debt instrument is a paper or electronic obligation that enables the issuing party to raise funds by promising to repay a lender in accordance with terms of a contract. Types of debt instruments include notes, bonds, debentures, certificates, mortgages, leases or other agreements between a lender and a borrower.
5) Answer: d)
Canara Bank is the first public sector bank to shift to EMV chip and PIN for card present transactions across the country’s vast ATM network.
It is aimed at reducing lost and stolen card fraud and making counterfeit card fraud more difficult.
The Reserve Bank of India (RBI) had set a deadline of December 31, 2018 for the switch, mandating the use of an embedded chip to replace the traditional magnetic stripe card.
6) Answer: c)
Pandoh Dam is built on which River Beas
7) Answer: c)
Talle Wildlife Sanctuary is situated in Arunachal Pradesh.
8) Answer: c)
Hyderabad is located on the Musi River in the heart of the Telangana Plateau, a major upland region of the Deccan (peninsular India)
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: b)
Aranmula International Airport was an airport project planned to be built at Aranmula, Kerala in India, at a cost of Rs. 20 billion.