Q.271
Easy
What is the primary objective of the Deposit Insurance and Credit Guarantee Corporation (DICGC)?
A
To provide credit facilities to banks
B
To insure deposits and guarantee credits of banks
C
To regulate the banking sector
D
To monitor stock market operations
Correct Answer:
B. To insure deposits and guarantee credits of banks
Explanation:
DICGC's primary objective is to insure deposits of depositors and guarantee credits of banks up to specified limits.
Q.272
Medium
As per DICGC norms (2024), what is the maximum deposit insurance coverage per depositor per bank?
A
₹5 lakhs
B
₹10 lakhs
C
₹50 lakhs
D
₹1 crore
Correct Answer:
A. ₹5 lakhs
Explanation:
The maximum deposit insurance coverage under DICGC is ₹5 lakhs per depositor per bank as per the current norms.
Q.273
Easy
Which of the following is NOT a function of the RBI?
A
Issuing currency notes
B
Regulating monetary policy
C
Managing stock exchanges
D
Acting as banker to the government
Correct Answer:
C. Managing stock exchanges
Explanation:
Stock exchanges are regulated by SEBI, not RBI. RBI issues currency, regulates monetary policy, and acts as banker to the government.
Q.274
Medium
What does the term 'Statutory Liquidity Ratio (SLR)' refer to in banking?
A
Percentage of deposits banks must maintain in government securities
B
Percentage of deposits banks must maintain as cash reserves
C
Maximum lending limit for banks
D
Interest rate charged by RBI on loans
Correct Answer:
A. Percentage of deposits banks must maintain in government securities
Explanation:
SLR refers to the percentage of their deposits that commercial banks must maintain in the form of liquid assets like government securities.
Q.275
Medium
Which of the following payment systems is operated by NPCI and is used for retail payments?
A
NEFT
B
UPI
C
RTGS
D
CHIPS
Explanation:
UPI (Unified Payments Interface) is operated by NPCI for retail payments. NEFT and RTGS are operated by RBI, while CHIPS is a US-based system.
Q.276
Medium
What is the current policy repo rate set by RBI as of 2024-2025?
A
4.5%
B
5.75%
C
6.5%
D
7.0%
Explanation:
The RBI's policy repo rate stands at 6.5% as per the latest monetary policy decisions in 2024-2025.
Q.277
Hard
Which act governs the functioning of cooperative banks in India?
A
Banking Regulation Act, 1949
B
State Cooperative Societies Act
C
Multi-State Cooperative Societies Act, 2002
D
All of the above
Correct Answer:
D. All of the above
Explanation:
Cooperative banks are governed by the Banking Regulation Act 1949, State Cooperative Societies Acts, and the Multi-State Cooperative Societies Act 2002.
Q.278
Hard
What is the maximum tenure for which RBI issues Treasury Bills?
A
30 days to 90 days
B
90 days to 180 days
C
30 days to 364 days
D
180 days to 1 year
Correct Answer:
C. 30 days to 364 days
Explanation:
RBI issues Treasury Bills with a maximum tenure of 364 days. T-Bills are issued at 14-day, 91-day, 182-day, and 364-day intervals.
Q.279
Easy
Which of the following is a features of a current account opened in banks?
A
No limit on number of transactions
B
Earns interest on deposits
C
Overdraft facilities available
D
Both A and C
Correct Answer:
D. Both A and C
Explanation:
Current accounts have no transaction limits and overdraft facilities. However, they do not earn interest on deposits.
Q.280
Medium
What is the primary function of the Financial Intelligence Unit (FIU-IND) in India?
A
To monitor banking sector stability
B
To investigate financial crimes and money laundering
C
To regulate stock markets
D
To supervise cooperative banks
Correct Answer:
B. To investigate financial crimes and money laundering
Explanation:
FIU-IND is India's financial intelligence unit responsible for combating money laundering and terrorist financing.
