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1) “Local Area Banks” were introduced in 1996, LAB’s are restricted to operate maximum in three Districts. How many Local Area Banks are functioning at present?
2) Which of the following is NOT a “Nationalized Bank” in India?
a) Vijaya Bank
b) Dena Bank
c) United Commercial Bank
d) IDBI Bank
e) Canara Bank
3) The amount of Loan under retail lending normally range between ________ to _________
a) Rs. 20000 to Rs. 1 crore
b) Rs.50000 to Rs. 50 lakh
c) Rs. 1 Lakh to Rs. 1 crore
d) Rs. 1 Lakh to Rs. 10 lakh
e) Rs. 10 Lakh to Rs. 10 crore
4) Which one of the following methods is currently used in India to issue notes?
a) Proportional Reserve System
b) Fixed Fiduciary System
c) Minimum Reserve System
d) Fiscal Reserve System
e) Budget Reserve System
5) As per RBI Guideline, What is the name of the new type of account to achieve “Financial Inclusion”?
a) BSBDA Account
b) Basic Account
c) Small Account
d) Small Savings Account
e) Smart Savings Account
6) Gaggal Airport is located in which Indian state?
c) Himachal Pradesh
7) Where is the United Nations Framework Convention on Climate Change headquarters located?
a) Hague, the Netherlands
b) Brussels, Belgium
c) Bonn, Germany
d) Geneva, Switzerland
e) Rome, Italy
8) Kowdiar Palace is located in which of the following Indian states?
a) Tamil Nadu
c) Andhra Pradesh
9) Kandla Port located in which Indian state?
d) Tamil Nadu
10) Constitution Day (National Law Day) celebrated every year on which among the following days in India.
a) 26 January
b) 26 November
c) 15 August
d) 30 January
e) 26 December
1) Answer: a)
Local Area Banks have jurisdiction over a maximum of three contiguous districts, and their basic function is to mobilise funds in rural and semi-urban areas. There are only four Local Area Banks (LAB) in India
- Coastal Local Area Bank Ltd (Vijayawada, Andhra Pradesh)
- Capital Local Area Bank Ltd (Phagwara, Punjab)
- Krishna Bhima Samruddhi Local Area Bank Ltd (Mahbubnagar, Telangana)
- Subhadra Local Area Bank Ltd., Kolhapur (Kolhapur, Maharashtra)
2) Answer: d)
IDBI bank Ltd is a banking company with majority shares are held by the government of India, hence a public sector bank.
3) Answer: a)
The “Retail Loans” given by commercial banks are generally for a duration of less than 5-7 years only. The amount of Loan under retail lending normally range between ₹ 20000 to ₹ 1 crore.
4) Answer: c)
The Reserve bank of India has the authority to issue currency. The current system of Indian government to issue notes is “Minimum Reserve System”. Under this policy, the minimum reserves to be maintained in the form of gold and foreign exchange should consists of rupees 200 crore. Out this reserve, the value of gold to be maintained is rupees 115 crore. This system was introduced in 1956 replacing the proportional reserve system, and continues till date.
5) Answer: a)
The aim of introducing ‘Basic Savings Bank Deposit Account (BSBDA)’ is very much part of the efforts of RBI for furthering Financial Inclusion objectives.
6) Answer: c)
Gaggal Airport is an airport located in Gaggal near Kangra in the Indian state of Himachal Pradesh. It is located 12 km from Dharamshala and 8 kilometers from Kangra.
7) Answer: c)
United Nations Framework Convention on Climate Change is headquartered at Bonn, Germany.
8) Answer: b)
Kowdiar Palace in Thiruvananthapuram, Kerala was built in 1934 by Maharajah Sree Chithira Thirunal. Kowdiar Palace is one of the most significant heritage structures to be seen in Thiruvananthapuram. It is seen in a serene and beautiful campus within the city centre.
9) Answer: e)
Kandla Port Trust or Deendayal Port is a seaport in Kutch District of Gujarat state in western India. The Port of Kandla is located on the Gulf of Kutch on the northwestern coast of India.
10) Answer: b)
Constitution Day (National Law Day), also known as Samvidhan Divas, is celebrated in India on 26 November every year to commemorate the adoption of the Constitution of India. On 26 November 1949, the Constituent Assembly of India adopted the Constitution of India, and it came into effect on 26 January 1950.