Finance and Economics Quiz 275

The main function of a commercial bank can be segregated into:
(i) payment system
(ii) Financial intermediation
(iii) Financial Services

(a) (i), (ii), (iii)
(b) (i), (iii)
(c) (i), (ii)
(d) (ii), (iii)

Answer:

Self-Help Groups are set up to basically borrow from banks without making any savings contribution.
(a) FALSE
(b) TRUE

Answer:

A commercial paper issue made by a corporate is a non-SLR instrument
(a) FALSE
(b) TRUE

Answer:

As at end-June 2008, the number of bank branches in the country was:
(a) Between 75,000 to 80,000
(b) Between 70,000 to 75,000
(c) Between 80,000 to 85,000
(d) Between 65,000 to 70,000

Answer:

Loss assets comprise assets where a loss has been identified by
(a) RBI
(b) Bank
(c) a and b
(d) None of the above

Answer:

RBI acts as the issuer of currency in India, but only the Central Government has the right to destroy currency notes.
(a) FALSE
(b) TRUE

Answer:

No bank may hold shares in any company other than a subsidiary, exceeding 20.0% of the paid up share capital of that company.
(a) TRUE
(b) FALSE

Answer:

The deposits of regional rural banks are not covered by the DICGC
(a) FALSE
(b) TRUE

Answer:

Normally, the following types of customers require higher due diligence under KYC norms, except:
(a) politically exposed persons (PEPs) of foreign origin.
(b) non-resident customers;
(c) farmers with land holding over 10 acres;
(d) high net worth individuals;

Answer:

The Banking Ombudsman is a senior official appointed by the RBI.
(a) TRUE
(b) FALSE

Answer: