NIACL Mains 2019 – General Awareness Day – 68

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NIACL Mains 2019 – General Awareness Day – 68

maximum of 10 points
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1) National Automated Clearing House (NACH) is introduced by which among the following organisations?

a) RBI

b) SBI

c) NPCI

d) SEBI

e) None of these

2) Which among the following is a financial market in which share prices are rising or expected to rise?

a) Bear Market

b) Bull Market

c) Pig Market

d) High Market

e) None of the given options is true

3) Which of the following institutions is regarded as the ‘Lender of the Last Resort’ by Banks in India?

a) State Bank of India (SBI)

b) The State Treasury

c) Reserve Bank of India (RBI)

d) World Bank

e) Department of Financial Services (DFS)

4) Banks in India are required to maintain a portion of their demand and time liabilities with the Reserve Bank of India. This portion is called 

a) Statutory Liquidity Ratio

b) Cash Reserve Ratio

c) Bank Deposit

d) Reserve Repo

e) Government Securities

5) Who appoints the Banking Ombudsman?

a) Government of India

b) State Government

c) Reserve Bank of India

d) NPCI

e) EXIM Bank

6) Simbalbara National Park is located in which among the following states?

a) Himachal Pradesh

b) West Bengal

c) Karnataka

d) Goa

e) Jharkhand

7) Vadodara is located along the banks of which among the following rivers?

a) Ghatprabha

b) Tapti

c) Pennar

d) Vishwamitri

e) Godavari

8) Elephanta Caves are situated in which state of India?

a) Tamil Nadu

b) Maharashtra

c) Andhra Pradesh

d) Karnataka

e) Odisha

9) Yakshagana is a famous dance of which Indian state?

a) Karnataka

b) Odisha

c) Tamil Nadu

d) Andhra Pradesh

e) Jharkhand

10) National Voters Day is celebrated in India on

a) 25th November

b) 25th January

c) 24th January

d) 24th July

e) 24th June

Answers :

1) Answer: c)

The National Payments Corporation of India (NPCI) introduced to banks, financial institutions, Corporates and Government/s a service termed as National Automated Clearing House (NACH).

2) Answer: b)

A bull market is a financial market of a group of securities in which prices are rising or are expected to rise. It means the economy is growing. The term “bull market” is most often used to refer to the stock market, but can be applied to anything that is traded, such as bonds, currencies and commodities.

3) Answer: c)

‘Lender of Last Resort’ is an institution, usually a country’s central bank, that offers loans to banks or other eligible institutions that are experiencing financial difficulty or are considered highly risky or near collapse. In India the Reserve Bank of India is known as ‘Lender of Last Resort’ because, banks are supposed to meet their shortfalls of cash from other sources and if the other sources don’t meet the demand, then they approach the Reserve Bank of India

4) Answer: b)

According to Cash Reserve Ratio, CRR,  a certain percentage of the total bank deposits has to be kept in the current account with RBI which means banks do not have access to that much amount for any economic activity or commercial activity. As per section 42 (1) of the Reserve Bank of India, Scheduled Commercial Bank in India are required to maintain a portion of their demand and time liabilities with the Reserve Bank of India

5) Answer: c)

Ombudsman: An officer appointed to investigate Customers’ complaints against a company or organization, especially a public authority like Banks.

Banking Ombudsman: The Reserve Bank of India appoints the Banking Ombudsman to readdress customers’ complaint against certain deficiency in banking services.

6) Answer: a)

Simbalbara National Park is located in the Paonta Valley of Sirmour District, Himachal Pradesh along its border with Haryana. It was created in 1958 as the Simbalbara Wildlife Sanctuary and in 2010 it was made into a National Park. Goral, Sambhar and Chital are the common animals found here.

7) Answer: d)

Vadodara is a city in the Western Indian state of Gujarat. It is located on the banks of the Vishwamitri River.

8) Answer: b)

Elephanta Caves are a UNESCO World Heritage Site and a collection of cave temples predominantly dedicated to the Hindu god Shiva. They are located on Elephanta Island in Mumbai Harbour. In 1987, Elephanta Caves were designated a UNESCO World Heritage Site.

9) Answer: a)

Yakshagana is a traditional theatre form that combines dance, music, dialogue, costume, make-up, and stage techniques in regions of Karnataka. It is traditionally presented from dusk to dawn. Its stories are drawn from Ramayana, Mahabharata, Bhagavata and other epics from both Hindu and Jain traditions.

10) Answer: b)

To enroll new voters and encourage them to take part in the political process, Government of India has decided to celebrate January 25 every year as ‘National Voters’ Day’. It started from January 25th 2011 to mark Commission’s foundation day.

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