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1) The opening of branches by banks is governed by the provisions of Section _______ of the Banking Regulation Act, 1949.
a) Section 44
b) Section 18
c) Section 27
d) Section 32
e) Section 23
2) The Overseas Principal should obtain necessary authorisation from the Reserve Bank of India under the provisions of which Act to commence/ operate a payment system?
a) Reserve Bank of India Act–1934
b) Banking Companies (Acquisition and Transfer of Undertakings) Act– 1970
c) Banking Regulation (Companies) Rules, 1949
d) Payment and Settlement Systems Act (PSS Act), 2007
e) None of the given options is true
3) ___________ is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India.
4) The Reserve Bank of India was promoted a public limited company on January 14th 1971, named the CGCI. What was the meaning of first “C” in CGCI?
5) Which of the following is the mode of settlement of securities where in the transfer of securities and funds happen simultaneously?
a) Delivery versus Payment (DvP)
b) Negotiated Dealing System
c) Clearing Corporation of India Ltd. (CCIL)
d) All of the Above
e) None of the given options is true
6) In which state, Harangi dam is located?
c) Tamil Nadu
d) Andhra Pradesh
7) PISA is an international study by which of the following organization?
b) World Bank
8) Asirgarh fort is located in which state?
c) Madhya Pradesh
9) What is the currency of Liberia?
10) May 28 is observed as the World Hunger Day. What was the 2019 theme for the day?
b) Ending Global Hunger
c) Stop Staying Hunger
d) Hunger: It’s about People
e) Hunger is not about Food
1) Answer: e)
The opening of branches by banks is governed by the provisions of Section 23 of the Banking Regulation Act, 1949. In terms of these provisions, banks cannot open a new place of business in India or abroad or change otherwise than within the same city, town or village, the location of the existing place of business without the prior approval of the Reserve Bank of India (RBI). Thus, it is mandatory for RRBs to seek prior approval/licence from Rural Planning and Credit Department (RPCD) of RBI before opening of new branches/offices.
2) Answer: d)
The Overseas Principal should obtain necessary authorisation from the Department of Payment and Settlement Systems, Reserve Bank of India under the provisions of the Payment and Settlement Systems Act (PSS Act), 2007 to commence/operate a payment system.
3) Answer: a)
Money Transfer Service Scheme (MTSS) is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. Only inward personal remittances into India such as remittances towards family maintenance and remittances favouring foreign tourists visiting India are permissible.
4) Answer: e)
The Reserve Bank of India also promoted a public limited company on January 14, 1971, named the Credit Guarantee Corporation of India Ltd. (CGCI). The main thrust of the Credit Guarantee Schemes, introduced by the Credit Guarantee Corporation of India Ltd., was aimed at encouraging the commercial banks to cater to the credit needs of the hitherto neglected sectors, particularly the weaker sections of the society engaged in non-industrial activities, by providing guarantee cover to the loans and advances granted by the credit institutions to small and needy borrowers covered under the priority sector.
5) Answer: a)
Delivery versus Payment (DvP) is the mode of settlement of securities where in the transfer of securities and funds happen simultaneously. This ensures that unless the funds are paid, the securities are not delivered and vice versa. DvP settlement eliminates the settlement risk in transactions.
6) Answer: b)
Harangi dam is located in Kodagu district in Karnataka. It is built across the river Harangi which is a tributary of river Kaveri.
Major dams in Karnataka are- Krishna Raja Sagar Dam, Tungabhadra Dam, Supa Dam, Almatti Dam
7) Answer: c)
The Program for International Student Assessment (PISA) is a worldwide study by the Organization for Economic Co-operation and Development (OECD) in member and non-member nations intended to evaluate educational systems by measuring 15-year-old school pupils’ scholastic performance on mathematics, science, and reading. India signed an agreement with OECD to participate in PISA 2021.
8) Answer: c)
Asirgarh fort is located in Burhanpur district in Madhya Pradesh. This fort connects the valley of Narmada and Tapti rivers and therefore known as the ‘key to the Deccan’.
Major forts of Madhya Pradesh are- Athiya Fort, Bajrangarh Fort, Dhar Fort, Gwalior Fort
9) Answer: a)
Currency of Liberia is Liberian Dollar. The country is located in Africa with Monrovia as the capital. Liberia is divided into 15 countries which are subdivided into 90 districts.
10) Answer: a)
Sustainability is the 2019 central theme of the World Hunger Day. The main aim is to raise awareness of chronic hunger and celebrate the achievements of millions of people who are already taking actions to end their own hunger. World Hunger Day is an initiative by The Hunger Project. The day aims to celebrate sustainable solutions to hunger and poverty.