Banking Awareness - MCQs with answers - Part V
1. What is the full form of FIMMDA?a) Fixed Income Money Markets & Derivatives Association
b) Foreign Income Money Markets & Derivatives Association
c) Floating Income Money Markets & Derivatives Association
d) Fixed Income Money Markets & Derivatives Affiliation
View Answer / Hide AnswerANSWER: a) Fixed Income Money Markets & Derivatives Association
FIMMDA is a voluntary market body for the bond, money and derivative markets.
a) Plan for Financial Inclusion
b) Plan for Financial Exclusion
c) Plan for Financial Inclusion Technology
d) None of the above
View Answer / Hide AnswerANSWER: a) Plan for Financial Inclusion
'Financial Inclusion' is the latest powerful tool adopted by Reserve Bank of India to fulfill the basic objective of connecting every Indian to the country's banking system.
a) Financial Security and Development Council
b) Financial Stability and Development Council
c) Financial Security and Development Convention
d) Fiscal Stability and Development Council
View Answer / Hide AnswerANSWER: b) Financial Stability and Development Council
The Government of India constituted Financial Stability and Development Council.
a) Local Indian Bank Offered Rate
b) London-India Bureau Of Regulations
c) Liberal International Bank Official Ratio
d) London Inter Bank Offered Rate
View Answer / Hide AnswerANSWER: d) London Inter Bank Offered Rate
The London Inter Bank Offered Rate is the average interest rate estimated by leading banks in London.
a) Product Control
b) Product Enhancement
c) Product Enrichment
d) Product Marketing
View Answer / Hide AnswerANSWER: d) Product Marketing
Product marketing deals with product, pricing, place, promotion, physical environment, process and people.
a) Maximum
b) Medium
c) Market
d) Mutual
View Answer / Hide AnswerANSWER: b) Medium
Small and medium-sized enterprises are businesses whose personnel numbers fall below certain limits.
a) Exim Bank
b) Export Credit Guarantee Corporation
c) Reserve Bank of India
d) Registrar of companies
View Answer / Hide AnswerANSWER: b) Export Credit Guarantee Corporation
On 30 July 1957, the ECGC Limited was established with an objective to provide insurance cover in respect of risks in export trade.
a) Eligible financial services rendered by banks
b) Services provided through business correspondents
c) Services provided to armed forces personnel
d) Utility services provided by banks
View Answer / Hide AnswerANSWER: d) Utility services provided by banks
Para Banking activities that a bank normally involves are Global Debit Card, Global Credit Card, Bancassurance, Life insurance products, Non life insurance products, cash management.
a) Anand Sinha
b) Deepak Mohanty
c) Harun Rashid Khan
d) Kamalesh Chandra Chakrabarty
View Answer / Hide AnswerANSWER: b) Deepak Mohanty
Deepak Mohanty is the highest ranked economist in Reserve Bank of India.
a) Mandate given by the close relatives of the depositor to settle the death claim in case of death of the depositor
b) Mandate decided by the bank to settle the death claim of its depositor
c) Mandate of the depositor in favor of one or more persons to claim the amount on death of the depositor
d) Mandate of the depositor in favor of a close relative who can claim the amount on death of the depositor
View Answer / Hide AnswerANSWER: d) Mandate of the depositor in favor of a close relative who can claim the amount on death of the depositor
The account holders can change the nomination anytime.
