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1. Under the National Rural Employment Guarantee Scheme guarantee is provided for
a) One person in the family for 100 days in a year
b) Every person in the family for 100 days in a year
c) One person in the family for the whole year
d) Every person for the whole year e) None of these
2. Devaluation of money means
a) decrease in purchasing power of money
b) increase in purchasing power of money
c) decrease in external value of money
d) decrease in external reserves of the country e) None of these
3. What is the interest rate on Public Provident Fund account offered by SBI, nationalised banks and post offices?
a) 4% p.a. b) 8% p.a. c) 6% p.a. d) 9% e) None of these
4. Which of the following statement is/are correct about National Rural Employment Guarantee Act (NREGA)?
A) NREGA is applicable to all rural areas of the country.
B) Only construction work shall be given to the workers employed under this Act
C) Every worker is given an amount of 250 per day for an eight-hour shift.
a) Only A b) Only B c) Only C d) Only A&B
e) All, A , B&C
5. Which of the following organizations/agencies controls the monetary policy of our country?
a) SBI b) Central Bank of India c) Indian Bank d) RBI
e) None of these
6. How is dual economy distinguished from other economies? It is mixture of
a) Industrial sector and manufacturing sector
b) Traditional agricultural sector and a modern industrial sector
c) State ownership of the means of production in cooperation with foreign organizations
d) Industrial sector and trading of goods obtained through imports.
e) None of these
7. Which of the following is the name of the organization created specifically to develop small – scale industrial sector in our country?
a) NABARD b) SEBI c) SIDBI d) AMFI e) None of these
8. Who is Nandan Nilekani?
a) Chairman, Unique Identification Authority of India
b) Chairman, Airport Authority of India c) Member, UGO
d) Member, Planning Commissioner e) None of these
9. Rashtriya Swasthya Bima Yojana (RSBY) is a scheme launched by the Ministry of—
(A) Finance
(B) Rural Development
(C) Commerce
(D) Industry
(E) Labour

10. Which of the following organizations maintains the Rural Infrastructure Development Fund (RIDF)
a) RBI b) NABARD c) SIDBI d) LIC e) None of these

11. The recommendations of the committee on Banking Sector Reform (popularly known as the Narasimham Committee-II), submitted in April 1998, included:
a. 5 per cent weight for market risk for Government/approved securities should be provided.
b. The risk weight for Government guaranteed advances to be the same as for other advances.
c. Foreign exchange open position limit to carry 100 per cent risk weight.
d. all of these. e. none of these.
12. Which of the following is not a recommendation of the Committee on Banking Sector Reforms (Narasimham Committee-II)?
a. A minimum target of 9 per cent CAR should be achieved by the year 2000and 10 per cent by 2002.
b. An asset should be classified as doubtful if it is in the sub-standard category for 18 months in the first instance and eventually for 12 months and loss if it has been so identified but not written off.
c. The Debt Recovery Tribunals should have territorial jurisdiction of the High Court in the concerned state.
d. The Government guarantee advances, which have turned sticky, should be classified as NPAs.
e. none of these.
13. Which of the following statements are correct about banks’ entry into insurance sector:
a. All banks entering into insurance business will be required to obtain prior approval of the Reserve Bank.
b. The Reserve Bank will give permission to banks on case-to-case basis keeping in view all relevant factors.
c. Holding of equity by a promoter bank in an insurance company or the IRDA/Central Government will subject to compliance with any rules and regulations lay down participation in any form in insurance business.
d. All of these. e. none of these.

14. Guidelines issued by RBI on banks’ entry into insurance sector include:
a. Any Scheduled Commercial Bank would be permitted to undertake insurance business as agent of insurance companies on fee basis, without any risk participation.
b. The subsidiaries of banks will be allowed to undertake distribution of insurance produce on agency basis.
c. A subsidiary of a bank or of another bank will not normally be allowed to join the insurance company on risk participation basis.
d. all of these. e. none of these.
15. Banks will be permitted to set up a joint venture company for undertaking insurance business with risk participation if:
a. the maximum equity contribution of participating bank in the joint venture company does not normally exceed 50 per cent of the paid-up capital of the insurance company.
b. the net worth of the bank is not less than Rs. 500 crore with the CAR at least 10 per cent as on 31st March 2000.
c. the bank has recorded net profit for the last three continuous years and the level of non-performing assets is reasonable as on 31st March 2000.
d. all of these. e. none of these.
16. Under which category Regional Rural Banks are classified?
a. Public sector banks.
b. co-operative banks.
c. private sector banks.
d. Investment development bank. E. none of these.
17. Paid-up share capital of Regional Rural Bank is contributed by:
a. Central Government only.
b. State Government only.
c. Central Government, State Government and the sponsor commercial bank in the ratio of 50:15:35 respectively.
d. NABARD, the concerned State Government and the sponsor commercial bank in the ratio of 50:25:25 respectively.
e. None of these.
18. Where is the headquarters of State Bank of India?
a. Mumbai b. Chennai c. Delhi d. Kolkata e, none of these.
19. Name the Governor of R.B.I.:(August 31, 2011)
a. Bimal Jalan b. T.N. Seshan c. Duvvuru Subba Rao d. Sam Pitroda
e. None of these.
20. . According to Banking Regulation Act, RBI can fix SLR upto the ceiling of---
a. 40 per cent b. 30 per cent c. 20 per cent
d. 50 per cent. E. None of these.
21. . What is rate of interest allowed by Banks in Savings Bank Account?(with effect from 3rd May 2011)
a. 3.5% p.a. b. 4% p.a. c. 3.5% p.m. d. 4% p.m. e. none of these
22. One of the following banks has its head quarters in Kolkata:
a. IOB b. SBI c. UCO d. BOB
23. The foreign banks have been restrained by a consumer court from charging an interest of more than _______ per cent a year from credit card holders.
a) 10 b) 20 c) 30 d) 40 e) None of these
24. LLP stands for
a) Limited Liability Partnership b) Limited Loyalty Partnership
c) Liable Limited Partnership d) Lower Level Partnership
e) None of these.
25. The RBI has opposed the setting up of an independent ________ to manage the debt of the government. The argument given has been that currently the govt has a high fiscal deficit, so it is not a good time to set it up.
a) Debt Management Office b) Asset Reconstruction Company
c) Debt Recovery Tribunal d) Debt Management tribunal
e) None of these.
26. NABARD is a
a) Commercial bank b) development bank c) cooperative bank
d) Regional rural bank e) None of these.
27. The headquarters of the World Bank is situated at
a) Washington DC b) Geneva c) New York d) Paris e) none of these.
28. Which Bank has decided to sell its retail and commercial business in India as part of the restructuring exercise, a move that follows the bank recording biggest annual loss of 24 billion pounds.

a) Royal Bank of Scotland b) Citibank
c) HSBC d) Yes Bank e) none of these
29. Which of the following will decrease inflation?
a) Truckers strike b) Rise in the price of manufactured goods
c) Cut in fuel prices d) All of the above e) none of these
30. ESMA stands for
a) Essential Services Maintenance Act b) Essential Supply Maintenance Act
c) Estimated Supply Maintenance Act d) Early Services Maintenance Act
e) none of these.
31. SEBI was established in
a) 1993 b) 1992 c) 1988 d) 1990 e) 1994
32. The working of SEBI includes
a) To regulate the dealings of share market
b) To check the foul dealings in share market
c) To control the insider trading of shares d) All of these
e) None of these.
33. The leader of the Indian money market is:
a. Commercial banks
b. Lead banks
c. Reserve Bank of India
d. SEBI.
e. None of these.
34. Which of the following is referred to as the ‘National Bank’?
a. Punjab National Bank
b. National Housing Bank
e. None of these.

35. How many public sector commercial banks are there in India at present?(31.8.2011)
a. 25
b. 20
c. 22
d. 14
e. None of these.

36. FEMA is applicable to
a) all foreign exchange transaction in India
b) to branches / offices / agencies outside India owned and controlled by a person resident in India.
c) does not cover the transactions carried out by foreign citizens resident in India
d) a and b
37. A Bank authorized to deal in Foreign Exchange is officially called
a) Authorised Dealer b) Foreign Bank c) Dealer in Foreign Currency
d) Exchange Company
38. Under FEMA, Capital Account Transaction means a transaction resulting in crease or
decrease of
a) Assets of a person resident in India but held abroad
b) Assets in India of a person resident outside India c) Both a & b d) a only.
39. Clauses in the Articles of Association can be made with the approval of…
a) Registrar of Companies b) State Government
c) High Court d) None of these
40. With reference to FEMA identify the odd item:
a) Current Account b) Foreign Trade c) Interest on loans given abroad
d) Salary earned by a resident Indian in India
41. Repatriate to India means
a) Bringing to India foreign exchange
b) Retaining foreign exchange abroad as per provisions of FEMA
c) Selling to authorized person d) a & c
42. The Sub – Agent is responsible to
a) The Principal b) The Agent c) To both d) To none
43. Under the Sale of Goods Act a condition means
a) Simply a stipulation b) Stipulation essential to the main purpose
c) If violated confers a right for the cancellation of the contract d) b & c
44. The Role of Ombudsman as an Arbitrator in respect of disputes is restricted to an amount of
a) Rs.5 lakhs b) Rs.10 lakhs c) Rs.25 lakhs d) No such limit
45. Max. Cash Reserve Required to be maintained with the Reserve Bank under section 42(1) of the RBI Act, 1934 is
a) 2.1/2% on Demand liability b) 10% an Demand & Time Liability
c) 5% on Demand & Time Liability d) No ceiling at all
46. Memorandum & Articles of a company are
a) Public Documents b) Secret Documents c) Not documents
d) Meant only for the Company Directors.
47. Memorandum & Articles of any company are available for inspection in
a) The Printing Press where they are printed b) All Public Libraries
c) On the notice Board of Companies d) Office of the Registrar of Companies
48. A shareholder
a) can claim dividend as a matter of right
b) can receive only if the Board declares
c) can receive if approved in Annual General Body Meeting d) b & c
49. Act done by the Agent without the Principal’s knowledge
a) can be ratified by the Principal b) cannot be ratified
c) should always be ratified d) results in the termination of the Agency.
50. The seller of goods is deemed to be an unpaid seller when
a) The price is paid but delivery not taken
b) Price is only quoted c) Price not paid d) Price not settled


1.A 2.C 3.B 4.A 5.D 6.B 7.C 8.A 9.E 10.B

11.D 12.C 13.D 14.D 15.D 16.A 17.C 18.A 19.C 20.A

21.B 22.C 23.C 24.A 25.A 26.B 27.A 28.A 29.C 30.A

31.C 32.D 33.C 34.C 35.A 36.d 37.a 38.d 39.d 40.d

41a. 42.b 43.d 44.b 45.d 46.a 47.b 48.d 49.a 50.c



1 comment:

  1. Harish: Thanks for informing for question No.9. choices were not given. I have changed the question and answer accordingly.
    best wishes


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