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1) What does “Overdraft” mean in Banking?
a) Minimum bank balance required for continuation of account.
b) Maximum account limit.
c) Maximum Loan limit.
d) Minimum Deposit needed to open the account.
e) The account holder may withdraw more money than its deposit.
2) Reverse Repo is a tool used by RBI to-
a) Inject liquidity
b) Absorb liquidity
c) Increase the liquidity with the banking system
d) To keep the liquidity at one level
e) None of the given options is true
3) Which organisation facilitates external trade and payment and promote orderly development and maintenance of foreign exchange market in India.
a) Indian Institute of Foreign Trade (IIFT)
b) Export Credit Guarantee Corporation (ECGC)
c) Indian Institute of Export Management (IIEM)
d) Reserve Bank of India (RBI)
e) Export-Import Bank (EXIM)
4) A long term debt instrument issued by a company yielding a fixed rate of interest is known as?
a) Debt equity
b) Equity funds
d) Commercial papers
e) Yielding borrowings
5) Banks can not generally accept interest-free deposits. Which of the following is an exception to this rule?
a) Current Account
b) Savings Account of Minors
c) Deposit from Minority groups
e) None of these
6) Sarhul is a tribal festival celebrated in which state?
7) Where is the headquarters of Interpol?
a) Paris, France
b) New York, USA
c) Zurich, Switzerland
d) Lyon, France
e) Geneva, Switzerland
8) What is the currency of Armenia?
9) Jnanpith Award is conferred in the field of ___________
10) _____________ is the state animal of Madhya Pradesh
a) Indian Hog Deer
b) One Horned Rhino
1) Answer: e)
Overdraft means the act of withdrawing more money from bank account than it has deposited in it.
2) Answer: b)
Repo operations therefore inject liquidity into the system. Reverse repo operation is when RBI borrows money from banks by lending securities. The interest rate paid by RBI is in this case is called the reverse repo rate. Reverse repo operation therefore absorbs the liquidity in the system.
3) Answer: d)
Reserve Bank of India manages the ‘Foreign Exchange Management Act, 1999’. Objective of the act is to facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India.
4) Answer: c)
Debentures are long term debt security funds that are mainly issued by a company to secure long term fund flow for the organization. They are not secured by any physical asset or collateral. The difference between the two is actually the function of the place where they are registered and also pay stamp duty for the same. It is a way of raising funds from the market for various companies.
5) Answer: a)
Banks cannot accept interest free deposits other than in current account.
6) Answer: e)
Sarhul festival is one of the most popular festivals celebrated across the Jharkhand region. ‘Sar’ refers to Year and ‘Hul’ means set to begin.
Other tribal festivals of Jharkhand areHal Punhya, Bhagta Parab, Rohini, Bandna, Jani-Shikaar
7) Answer: d)
International Criminal Police Organization commonly known as Interpol is an international organization headquartered at Lyon, France that facilitates international police cooperation. It was established as the International Criminal Police Commission (ICPC) in 1923. Kim Jong Yang is the President of Interpol.
8) Answer: c)
Dram is the currency of Armenia with Yerevan as the capital.
9) Answer: b)
Jnanpith Award is the highest literary award in India, given annually for the best creative literary writing to writers in any of the 22 “scheduled languages” recognized in the Indian Constitution. The prize carries a cash award, a citation, and a bronze replica of Saraswati, the goddess of learning. It is sponsored by the cultural organization Bharatiya Jnanpith.
10) Answer: d)
Barasingha is the state animal of Madhya Pradesh.