Banking Quiz for IBPS | SBI – 304

Banking Quiz for IBPS | SBI – 304

1.Indian company having FDI will be permitted to make downstream investment in LLPs. What is the full form of LLP ?
a) Limited Language Performance
b) Limited Liability Partnership
c) Linguistic Liability Participation
d) None of these

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Answer b) Limited Liability Partnership
FDI in LLPs is permitted, subject to the following conditions:. An Indian company or an LLP, having foreign investment, will be permitted to make downstream investment in another company or LLP engaged in sectors in which 100% FDI is allowed under the automatic route and there are no FDI linked performance conditions.

2.What is the Platinum Jubilee Year of the RBI ?
a) 2012-2013
b) 2014-2015
c) 2009-2010
d) None of these

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Answer c) 2009-2010
Reserve Bank of India, RBI, completes 75 Years, Platinum Jubilee Year, Monetary & Credit Policies: Banknet India. The Reserve Bank of India, established on April 1, 1934 celebrates the year 2009-2010 as its Platinum Jubilee Year.

3.Which of the following statements are correct about Finance Commission ?
(A) It is a statutory body.
(B) It is constituted under article 280 of Indian constitution.
(C) Mr. K. C. Pant is the Chairman of 13 Finance Commission.
a) Only A
b) B and C
c) A and B
d) None of these

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Answer c) A and B
Dr.Vijay Kelkar is the chairman of 13th Finance commission.

4.What is the full form of LERMS ?
a) Liberalised Exchange Rate Management System
b) Long Elimination Reserve Management System
c) Liberalised Extended Related Management Stock
d) None of these

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Answer a) Liberalised Exchange Rate Management System
LERMS liberalized exchange rate management system. 2. Introduction O In view of the continuing pace of liberalization policy, the Liberalized Exchange Rate Management System (LERMS) has assumed a special significance in the arena of international financial management.

5.SLR is maintained by banks on which of the following –
a) Net Demand and Time Deposits
b) Demand and Time Liabilities
c) Net Demand and Time Liabilities
d) None of these

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Answer c) Net Demand and Time Liabilities
Statutory liquidity ratio (SLR) is the Indian government term for the reserve requirement that the commercial banks in India are required to maintain in the form of cash, gold reserves, RBI approved securities before providing credit to the customers.

6.What is the base year for new series of IIP (Index of Industrial Production) ?
a) 2003-2004
b) 2004-2005
c) 2011-2012
d) None of these

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Answer c) 2011-2012
The Central Statistics Office (CSO) revised the base year of the all-India Index of Industrial Production (IIP) from 2004-05 to 2011-12 on 12 May 2017.

7.Which of the following is not an objective of fiscal policy of Government of India ?
a) Full Employment
b) Equal distribution of Income and Wealth
c) Regulation of Inter State Trade
d) None of these

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Answer c) Regulation of Inter State Trade

8.A banking system in which a big bank has a number of branches in different parts of the country is known as ___.
a) Unit Banking
b) Branch Banking
c) Mixed Banking
d) None of these

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Answer b) Branch Banking

9.National Food Security Mission was launched in the year ___.
a) 2005
b) 2006
c) 2007
d) None of these

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Answer c) 2007
Accordingly, a Centrally Sponsored Scheme, ‘National Food Security Mission’ (NFSM), was launched in October 2007. The Mission met with an overwhelming success and achieved the targeted additional production of rice, wheat and pulses.

10.What is the full form of FIMMDA?
a) Fined Income More Money Derivatives Authority
b) Fixed Income Measuring Money Dumping Association
c) Fixed Income Money Market and Derivatives Association
d) None of these

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Answer c) Fixed Income Money Market and Derivatives Association
Fixed Income Money Market and Derivatives Association of India (FIMMDA) is an association of Scheduled Commercial Banks, Public Financial Institutions, Primary Dealers and Insurance Companies. FIMMDA is a voluntary market body for the bond, money and derivatives markets.

About the author

Richa

Richa Gupta is a Banking Aspirant. Her dream is to become a PO in Government Bank. Aptitude and Reasoning are her strong zones. Richa is a hard working person who loves to share the knowledge she acquired to other Aspirants.

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