Banking & FInancial Awareness Quiz: Part 22

(1). Which of the following currency is not on the set of Internationally acclaimed 'Hard Currencies'?

(a) Yuan
(b) Yen
(c) Dollar
(d) Pound

(2). What is 'C' stands for in "BCSBI" which is an autonomous body formed by the joint efforts of RBI and banks?
(a) Central
(b) Cost
(c) Codes
(d) Criteria

(3). Fixed Deposit Account cannot be opened by

(a) Individual single / jointly
(b) On behalf of a minor
(c) In the name of club, society, Educational Institute, etc .
(d) All of the above

(4). Which of the following statement is incorrect regarding IBRD, IDA and IMF?

(a) Both IBRD and IDA share the same staff and head quarter.
(b) A country must be a member of IBRD before joining IDA.
(c) All member of IMF are also member of IBRD members and vice versa
(d) IBRD and IDA report to the two different Presidents.

(5). What is the Tagline of Bank Of India?

(a) A tradition of trust
(b) For all your needs
(c) Banking for All
(d) Relationship beyond Banking

(6). Which of the following is not a subsidiary of NABARD?

(a) Nab cons
(b) NABARD Financial Services Limited, [NABFINS]
(c) Agri. Business Finance (AP) Limited (ABFL)
(d) All of the Above

(8). Which insurance company has tied-up with Bank of Maharashtra?

(a) Future General India Insurance Company (FGII)
(b) Birla Sun Life Insurance Company Limited
(c) IndiaFirst Life Insurance Company
(d) Exide Life Insurance

(9). CASHe, a loan giving app has partnered with

(a) Reliance
(b) Paytech.
(c) Paytm
(d) Finotech.

(10). Ant Financial, e-commerce giant Alibaba's financial arm, has reached an agreement to acquire

(a) Virgin Money International Money Transfer
(b) Moneycorp Money Transfer
(c) MoneyGram
(d) PayGram

EXPLANATION:

(1). Answer Key: (a)
Dollar, Pound , Yen , Euro are called Hard Currency. Hard currency is accepted for settling international transactions , so it may always be in demand in the international market.

(2). Answer Key: (c)
Banking Codes and standards Board of India (bcsbi) is an independent and autonomous body formed by the joint efforts of RBI and bank. It acts as a watch dogs to monitor banking practices adopted by member banks inorder to ensure quality service to customers.

(3). Answer Key: (d)
A fixed deposit (FD) is a financial instrument provided by banks which provides investors with a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account.

(4). Answer Key: (d)
Both IBRD and IDA share the same staff and head quarter and report to the same president.

(5). Answer Key: (d)
Bank Of India- RELATIONSHIP BEYOND BANKING

(6). Answer Key: (d)
NABARD is set up as an apex Development Bank with a mandate for facilitating credit flow for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts. It also has the mandate to support all other allied economic activities in rural areas, promote integrated and sustainable rural development and secure prosperity of rural areas.

(7). Answer Key: (b)
The M.Narisaman committee in 1975 after studying the impact of the Lead Bank Scheme recommended the establishment of rural banks in each district that may be dedicated to rural development. The first Gramin Banks started functioning on 2nd October 1975 under an ordinance and subsquently the Regional Rural Banks Act was passed in 1976.

(8). Answer Key: (a)
Future Generali India Insurance Company (FGII) has entered into a corporate agency tieup with Bank of MaharashtraBSE 1.08 %.

(9). Answer Key: (c)
Aeries Financial Technologies Pvt. Ltd., a fintech company promoted by serial entrepreneur and private equity investor Mr. V. Raman Kumar announced that CASHe, India's fastest loan giving app for young salaried professionals, has partnered with Paytm, India's largest mobile payments and commerce firm to allow its users to deposit cash transfers from CASHe to their Paytm wallets.

(10). Answer Key: (c)
Ant Financial, e-commerce giant Alibaba's financial arm, has reached an agreement to acquire American money-transfer major MoneyGram for $880 million, in a deal that will expand the firm's business in the US after India and Thailand.