Banking Quiz for IBPS | SBI – 297

Banking Quiz for IBPS | SBI – 297

1.Which of the following committees/ Task Forces was set up to suggest reforms in Banking Sector?
a) Swaminathan Committee
b) Narasimham Committee
c) Rajinder Sachar Committee
d) None of these

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Answer b) Narasimham Committee
The Finance Ministry of Government of India (GOI) set up various committees with the task of analysing India’s banking sector and recommending legislation and regulations to make it more effective, competitive and efficient. Two such expert Committees were set up under the chairmanship of M. Narasimham. They submitted their recommendations in the 1990s in reports widely known as the Narasimham Committee-I (1991) report and the Narasimham Committee-II (1998) Report.

2.What is the full form of the term REITs?
a) Regional Estate Innovation Trusts
b) Real Estate Investment Trusts
c) Restructured Estate Investment Trusts
d) None of these

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Answer b) Real Estate Investment Trusts
A real estate investment trust (REIT) is a closed-end investment company that owns assets related to real estate such as buildings, land and real estate securities. REITs sell on the major stock market exchanges just like common stock.

3.Entry Load is a term associated with which
of the following?
a) Startups
b) Mutual Funds
c) Shipping
d) None of these

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Answer b) Mutual Funds
Entry Load is a percentage of fee levied on the purchase of a mutual fund scheme. The levying of entry load reduces the investors’ investment. For instance, a mutual fund scheme with 5% entry-load would deduct entry-load from the amount invested into the scheme and invest the remaining amount.

4.What is the headquarters of Canara Bank?
a) Mangalore
b) Bengaluru
c) Chennai
d) None of these

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Answer b) Bengaluru
Canara Bank is one of the largest public sector banks owned by the Government of India. It is headquartered in Bengaluru. It was established at Mangalore in 1906 by Ammembal Subba Rao Pai. It is one of the oldest public sector banks in the country.

5.The full form of BBPS is-
a) Best Business Practice
b) Bharat Bill Payment Service
c) Bharat Bill Payment System
d) None of these

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Answer c) Bharat Bill Payment System
Bharat Bill Payment System (BBPS) is an integrated bill payment system in India offering interoperable and accessible bill payment service to customers through a network of agents of registered member as Agent Institutions (AI), enabling multiple payment modes, and providing instant confirmation of payment.

6.Which committee recommended the universal banking concept?
a) R H Khan Committee
b) S Padmanabhan Committee
c) YH Malegam Committee
d) None of these

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Answer a) R H Khan Committee
Universal Banking is a multi-purpose and multi-functional financial supermarket (a company offering a wide range of financial services e.g. stock, insurance and real-estate brokerage) providing both banking and financial services through a single window.

7.Reserve Bank of India was nationalized in:-
a) 1947
b) 1949
c) 1948
d) None of these

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Answer b) 1949
After the Partition of India in August 1947, the bank served as the central bank for Pakistan until June 1948 when the State Bank of Pakistan commenced operations. Though set up as a shareholders’ bank, the RBI has been fully owned by the Government of India since its nationalization in 1949.

8.Which is the first Indian company to be listed in NASDAQ ?
a) TCS
b) HCL
c) Infosys
d) None of these

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Answer c) Infosys
Infosys Technologies became the first Indian company to be listed on the US NASDAQ in March 1999. Infosys was incorporated on July 2,1981 as a private limited company in India. It became public limited company in June 1992.

9.Monetary Policy of RBI does not include ______?
a) Control the supply of Money
b) Reduction of taxes
c) Fixation of rate of interest (least in some categories)
d) Fixation of Repo rate and Reverse Repo rate

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Answer b) Reduction of taxes
Monetary policy is the process by which the monetary authority of a country, generally the central bank, controls the supply of money in the economy by its control over interest rates in order to maintain price stability and achieve high economic growth.

10.National Council of Applied Economic Research (NCAER) is located in _______
a) Mumbai
b) New Delhi
c) Chennai
d) None of these

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Answer b) New Delhi
National Council of Applied Economic Research is a New Delhi based non-profit think tank of economics. Nandan Nilekani is president of the governing body and Dr Shekhar Shah is current director general of NCAER.

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