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1) Consider the following statements-
- Allahabad Bank was the first bank to be established exclusively by Indians.
- Seven banks forming subsidiary of State Bank of India was nationalized in 1960.
- SBI was formed in 1949.
Which of the statements given above is/are correct?
a) Only 1
b) Only 2
c) Both 1 and 2
d) Both 2 and 3
e) Only 3
2) Who will settle the grievances of customers of banks?
a) Reserve Bank of India
b) State Bank of India
c) Local Courts
d) Banking Ombudsman
e) Governor of RBI
3) Export–Import Bank of India is the premier export finance institution in India, established in ________________ under Export-Import Bank of India Act 1981.
4) Which Act was framed especially to deal with Non-Performing Assets (NPA)?
a) Banking Regulation Act 1949
b) Foreign Exchange Management Act (FEMA) 1999
c) Industrial Disputes Act 1947
d) SARFAESI Act, 2002
e) None of the given options is true
5) What was the deposits criteria of 14 banks nationalized on 19th July 1969?
a) Over Rs. 1000 crore
b) Over Rs. 500 crore
c) Over Rs. 100 crore
d) Over Rs. 50 crore
e) Over Rs. 200 crore
6) The International Day of Peace is observed around the world on_____.
a) 15 September
b) 21 September
c) 21 August
d) 18 July
e) 2 October
7) What is the capital of New Zealand?
8) Mirzapur is a city of Uttar Pradesh state, India and situated on which river?
a) Yamuna River
b) Ganga River
c) Jhelum River
d) Kaveri River
e) Sarasvati River
9) The Bhavani Sagar Dam constructed across Bhavani river in which state?
b) Uttar Pradesh
c) Tamil Nadu
10) Nati refers to the traditional dance of which state?
a) Jammu and Kashmir
b) Himachal Pradesh
c) Arunachal Pradesh
e) None of these
1) Answer: C
Both 1 and 2 is correct. Allahabad Bank was the first bank to be established exclusively by Indians. Seven banks forming subsidiary of State Bank of India was nationalized in 1960. But, SBI was formed in 1955.
2) Answer: D
The Banking Ombudsman Scheme is an expeditious and inexpensive forum for bank customers for resolution of complaints relating to certain services rendered by banks.
3) Answer: E
Export–Import Bank of India is the premier export finance institution in India, established in 1982 under Export-Import Bank of India Act 1981.
4) Answer: D
SARFAESI Act (The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002) was enacted to regulate securitization and reconstruction of financial assets and enforcement of security interest created in respect of Financial Assets to enable realization of such assets. The SARFAESI Act provides for the manner for enforcement of security interests by a secured creditor without the intervention of a court or tribunal. If any borrower fails to discharge his liability in repayment of any secured debt within 60 days of notice from the date of notice by the secured creditor, the secured creditor is conferred with powers under the SARFAESI Act.
5) Answer: D
14 major Indian Scheduled Commercial Banks with deposits of over Rs 50 crores nationalized ‘ to serve better the needs of development of the economy in conformity with national policy objectives’.
6) Answer: B
Each year the International Day of Peace is observed around the world on 21 September.
7) Answer: C
Wellington is the capital of New Zealand. New Zealand dollar is the currency of New Zealand.
8) Answer: B
Mirzapur is a city of Uttar Pradesh state, India. It is situated on the Ganges (Ganga) River.
9) Answer: C
The Bhavani Sagar Dam constructed across Bhavani river, is located 80 Km away from Coimbatore city, Tamil Nadu. The Bhavanisagar dam is 8 km. long and it is the longest masonry dam in the world.
10) Answer: B
Nati refers to the traditional dance of Kullu district of Himachal Pradesh. The dance is listed in the Guinness Book of World Records as largest folk dance. It is quite popular in whole Himachal Pradesh.