1/11/2021 Economy, finance and Banking MCQs 1 - GKmojo

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Protected: Economy, finance and Banking MCQs 1

1) Which of the following public sector banks has the largest number of branches in
foreign countries?

1. State Bank of India

2. Bank of Baroda
3. Punjab National Bank
4. Corporation Bank

Answer: Option 1

2) Which of the following banks was inaugurated Mahatma Gandhi in 1919?

1. Allahabad Bank
2. Bank of Baroda
3. State Bank of India
4. Union Bank of India

Answer: Option 4

3. Expand the term EMI as used in banking/finance sector?

1. Easy Monthly Installment

2. Equal Monthly Investment
3. Equated Monthly Installment
4. Equated Mortgage Investment

Answer: Option 3

4. Bank rate is decided which of the following?

1. Reserve Bank of India

2. Government Of India
3. State Bank of India
4. State Bank of India

Answer: Option 1

5. What does M in M-Banking Facility being offered banks to their customers, stand
for?

1. Money
2. Marginal
3. Message
4. Mobile Phone

Answer: Option 4
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1/11/2021 Economy, finance and Banking MCQs 1 - GKmojo

6. At which of the following cities is the Head Office of Reserve Bank of India located?

1. Mumbai
2. New Delhi
3. Kolkata
4. Bangalore

Answer: Option 1

7. In which year was the Imperial Bank of India rechristened as State Bank of India?

1. 1955
2. 1950
3. 1962
4. 1957

Answer: Option 1

8. The share of State Govt in the capital of Regional Rural Bank is –

1. 50%
2. 35%
3. 25%
4. 15%

Answer: Option 4

9. ATMs that are owned and managed non-banking entities are known as –

1. Red Label ATMs

2. White Label ATMs
3. Green Label ATMs
4. Blue Label ATMs

Answer: Option 2

10. Which of the following is not the function of the Reserve Bank of India ?

1. Acting as banker to the Government

2. Keeping of Foreign Exchange Reserve
3. Issuing of one rupee notes and coins
4. Regulating credit in the country

Answer: Option 3

11. Which of the following is the apex institution which handles refinance for
agriculture and rural development in India?

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1/11/2021 Economy, finance and Banking MCQs 1 - GKmojo

1. RBI
2. SIDBI
3. NABARD
4. SEBI

Answer: Option 3

12.In which year was the Reserve Bank of India established ?

1. 1935
2. 1947
3. 1949
4. 1952

Answer: Option 1

13. Regional Rural Banks are sponsored

1. Nationalised Commercial Bank

2. Reserve Bank of India
3. State Bank of India
4. Government of India

Answer: Option 1

14. Who estimated the National Income for the first time in India?

1. Mahalanobis
2. Dadabhai Naoroji
3. VKRV Rao
4. Sardar Patel

Answer: Option 2

15. Gross Domestic Product is defined as the value of all

1. Goods produced in an economy in a year

2. Goods and services produced in an economy in a year
3. Final goods produced in an economy in a year
4. Final goods and services produced in an economy in a year

Answer: Option 4

16. Excise Duty is a tax levied on :

1. Commodities that are exported

2. Commodities that are imported
3. Both the exported and imported commodities
4. Commodities that are produced and consumed within the country
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1/11/2021 Economy, finance and Banking MCQs 1 - GKmojo

Answer: Option 4

17. An individual’s actual standard of living can be assessed

1. Gross National Income

2. Net National Income
3. Per Capita Income
4. Disposable Personal Income

Answer: Option 3

18. The ‘break-even’ point is where

1. marginal revenue equals marginal cost

2. average revenue equals average cost
3. total revenue equals total cost
4. none of the above

Answer: Option 3

19. Which is the biggest tax paying sector in India?

1. Agricultural sector
2. Industrial sector
3. Transport sector
4. Banking Sector

Answer: Option 2

20. With which of the following is SARFAESI Act 2002 related?

1. Recovery of bad loans

2. Regulation of Foreign Exchange
3. Fixation of interest rates
4. Acquisition of small banks

Answer: Option 1

21. In India, which one among the following formulates the fiscal policy?

(A) Niti Aayog

(B) Ministry of Finance

(C) Finance Commission

(D) The Reserve Bank of India

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1/11/2021 Economy, finance and Banking MCQs 1 - GKmojo

Answer: Option B

22. The budget deficit means

(A) the excess of total expenditure, including loans, net of lending over revenue receipts

(B) difference between revenue receipts and revenue expenditure

(C) difference between all receipts and all the expenditure

(D) fiscal deficit less interest payments

Answer: Option C

23. ‘Pure Banking, Nothing Else’ is a slogan raised —

(A) ICICI Bank     

(B) HDFC Bank

(C) SBI Bank        

(D) Bank of Baroda

Answer: Option C

24. Which of the following is the basic characteristic of Oligopoly?

(A) a few sellers, one buyer

(B) a few sellers, many buyers

(C) a few sellers, a few buyers

(D) many sellers, a few buyers

Answer: Option B

25. The Federal Bank is a major Indian commercial bank headquartered in-

1. Thiruvananthapuram
2. Thrissur
3. Kozhikode
4. Kochi

Answer: Option 4

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