Banking Awareness Quiz With Explanation: Part 9

(1). When were the Basel III guidelines released?
(a) 2008
(b) 2009
(c) 2010
(d) 2011

(3). Term Money has a maturity period beyond
(a) 7 days
(b) 14 days
(c) 21 days
(d) 1 month 

EXPLANATION:

(1). Answer Key: (c)
In 2010, Basel III guidelines were released. These guidelines were introduced in response to the financial crisis of 2008.

(2). Answer Key: (a)
EPFO is an organization whose function is to assist the Central Board of Trustees(CBT) which is the apex decision-making body for EPFO.

(3). Answer Key: (b)
Deposits with maturity period beyond 14 days is referred as the term money. The entry restrictions are the same as that of Call/Notice Money, the specified entities not allowed to lend beyond 14 days.

(4). Answer Key: (d)
Demand Draft(DD) is not defined in the N.I. Act, 1881.

(5). Answer Key: (b)
UAN is a 12-digit number allotted to an employee(by EPFO) who is investing in his/her EPF. It does not change with the change in jobs. The UAN is an umbrella for the multiple Member Ids allotted to an individual by different establishments and it also remains same through the lifetime of an employee.

(6). Answer Key: (a)
PDMA is an interim organization set up by Ministry of Finance & will be elevated to a statutory Public Debt Management Agency (PDMA) in about two years. Its core purpose is to permit separation of debt management functions from RBI to PDMA in a steady & seamless manner, without causing market disruptions.

(7). Answer Key: (a)
Earlier, the timeline was in 2018.

(8). Answer Key: (d)
The term ‘open market operations’ stands for the purchase and sale of government securities by the RBI from/to the public and banks on its own account.

(9). Answer Key: (a)
When prices of goods and services rise at a double, triple digit rate per annum, that situation is known as galloping inflation. It is a serious problem for an economy and causes various economic distortions and disturbances.

(10). Answer Key: (a)

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