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Right Answer: 3Reserve Bank of India Act, 1934 is the legislative act under which the Reserve Bank of India was formed on 1st April, 1935.Question ID: 126
Right Answer: 2Repco Bank is a cooperative bank established by the Government of India in 1969 to improve financial needs of repatriates from neighbouring countries mainly from Sri Lanka and Burma.Question ID: 112
Right Answer: 3Repco Bank is a cooperative bank established by the Government of India in 1969 to improve financial needs of repatriates from neighbouring countries mainly from Sri Lanka and Burma.Question ID: 116
Right Answer: 3Non-scheduled bank in India means a banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949), which is not a scheduled bank.Question ID: 109
Right Answer: 3A maximum of ?5,00,000 (after the budget of 2020-21) is insured for each user for both principal and interest amount. If the customer has accounts in different branches of the same bank, all of those accounts are insured to a maximum of ?5,00,000 each.Question ID: 135
Right Answer: 4National Bank for Agriculture and Rural Development is an apex supervisory body for overall supervision of regional rural banks and apex cooperative banks in India. It is under the jurisdiction of Ministry of Finance, Government of India.Question ID: 121
Right Answer: 3National Electronic Funds Transfer (NEFT) NEFT is electronic funds transfer system, which facilitates transfer of funds to other bank accounts in other bank branches across the country.Question ID: 142
Right Answer: 1Deposit Insurance and Credit Guarantee Corporation ( DICGC) is a subsidiary of Reserve Bank of India. It was established on 1961 under Deposit Insurance and Credit Guarantee Corporation Act, 1961.Question ID: 128
Right Answer: 4National Payments Corporation of India (NPCI), enabling digital payments and settlement systems in India, is an initiative of RBI and IBA.Question ID: 464
Right Answer: 4SLR: Statutory liquidity ratio refers to the amount that the commercial banks require to maintain in the form of gold or govt. approved securities before providing credit to the customers.Question ID: 130
Right Answer: 2NABARD is set up as an apex Development Bank with a mandate for facilitating credit flow for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts.Question ID: 124
Right Answer: 3Bank holidays are declared as per Sec.25 of NI Act, 1881 with specific reference to payment of negotiable instruments to be paid on the previous working day.Question ID: 140
Right Answer: 3In 1949, the Banking Regulation Act was enacted which empowered the Reserve Bank of India (RBI) to regulate, control, and inspect the banks in India.Question ID: 108
Right Answer: 2The Reserve Bank of India, the nation's central bank, began operations on April 01, 1935. The RBI was nationalized on January 1, 1949 under the terms of the Reserve Bank of India (Transfer to Public Ownership) Act.Question ID: 73
Right Answer: 4Sir C.D. Deshmukh, CIE, ICS, was an Indian civil servant and the first Indian to be appointed as the Governor of the Reserve Bank of India in 1943 by the British Raj authorities.Question ID: 528
Right Answer: 3The Government of India set up Regional Rural Banks (RRBs) on October 2, 1975 by issuing oridinance. Later RRB act 1976 was passed by parliament on 26-09-1976.Question ID: 110
Right Answer: 1The Committee to Review Arrangements for institutional Credit for Agriculture and Rural Development(CRAFICARD) set up by the RBI under the chairmanship of Shri B Sivaraman recommended for formation of NABARD.Question ID: 139
Right Answer: 1Capital share being 50% by the central government, 15% by the state government and 35% by the sponsored bank. Question ID: 113
Right Answer: 2The Banking Ombudsman is a person appointed by the Reserve Bank of India to redress customer complaints against certain deficiency in banking Services. RBI may appoint one of its Officers not below the rank of Chief General Manager of RBI.Question ID: 141
Right Answer: 4Maximum period for opening a Fixed Term Deposit is 10 years.Question ID: 131