Banking and Insurance - MCQs with answers - Part I

ANSWER: d) Syndicate Bank

Prathama Bank is the first Regional Rural Bank established on 2 October 1975.

ANSWER: b) Federal Bank

Federal Bank Limited is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala.

ANSWER: b) Asset Liability Management

ALM is the practice of managing risks that arise due to mismatches between the assets and liabilities.

ANSWER: d) Indian Gold Council

The Money market in India is the money market for short-term and long-term funds with maturity ranging from overnight to one year in India including financial instruments that are deemed to be close substitutes of money.

ANSWER: d) SEBI

Reserve Bank of India, Insurance Regulatory and Development Authority, Forward Market Commission India, Pension Fund Regulatory and Development Authority are the regulatory bodies in India.

ANSWER: c) Paper gold

It is an accounting entry. It is used only among governments and IMF for balance of payment settlements.

ANSWER: a) General Insurance Business (Nationalisation) Act, 1972

The entire general insurance business in India was nationalised by the Government of India through the General Insurance Business (Nationalisation) Act of 1972.

ANSWER: c) System

The Indian Financial System Code (IFSC Code) is an alphanumeric code that uniquely identifies a bank-branch participating in the Real Time Gross Settlement (RTGS) and the National Electronic Funds Transfer (NEFT) Systems.