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MCQs

Total Questions : 461 | Page 3 of 47 pages
Question 21.

By Devaluation we mean .........................

  1.    A fall in the domestic value of currency
  2.    A fall in the external value of the currency by market forces
  3.    A fall in the external value of currency by government action
  4.    A fall in the both domestic and external value
  5.    None of these
 Discuss Question
Answer: Option C. -> A fall in the external value of currency by government action
Question 22. Closed Economy is one in which .............................
  1.    only export takes place
  2.    money supply is fully controlled
  3.    deficit financing takes place
  4.    neither export nor import takes place
  5.    none of these
 Discuss Question
Answer: Option D. -> neither export nor import takes place
Question 23.

Concept of 'Service Area Approach' was recommended by .........................

  1.    RV Gupta
  2.    AD Gorawala
  3.    Dr PD Ojha
  4.    Dr Kalia
  5.    None of these
 Discuss Question
Answer: Option A. -> RV Gupta
Question 24.

Electronic Fund Transfer scheme of RBI has been renamed as ........................

  1.    Clearing
  2.    Core Banking Solutions
  3.    Real Time Gross Settlement
  4.    National Electronic Fund Transfer
  5.    None of these
 Discuss Question
Answer: Option D. -> National Electronic Fund Transfer
Definition of National Electronic Funds Transfer (NEFT): National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. NEFT is used for transferring funds between any two parties having an account with any bank branch in the country.

Explanation:
The Reserve Bank of India (RBI) has renamed its flagship electronic fund transfer scheme as National Electronic Funds Transfer (NEFT) w.e.f. November 16, 2020. It is a nation-wide payment system facilitating one-to-one funds transfer. NEFT is used for transferring funds between any two parties having an account with any bank branch in the country.

Advantages of NEFT:
It is a fast, secure, and hassle-free mode of funds transfer.
The funds can be transferred to any bank branch throughout India.
It is available 24X7 and even on holidays.
No minimum amount is required for transferring funds through NEFT.
The transaction cost is low.
Funds can be transferred from one account to another within a few minutes.

Disadvantages of NEFT:
It is not suitable for large amounts as the transaction cost is high.
The funds are not transferred on the same day.
The transfer of funds through NEFT is limited to Rs.2 lakhs per transaction.
The funds can be transferred only during bank working
Question 25.

In computer parlance 'ftp' means ..............................

  1.    File transfer protocol
  2.    File transit protocol
  3.    File translate protocol
  4.    File typing protocol
  5.    None of these
 Discuss Question
Answer: Option A. -> File transfer protocol
Question 26.

RBI absorbs liquidity in the system through .......................

  1.    Repo
  2.    Reverse Repo
  3.    Both A and B
  4.    Either A or B
  5.    None of these
 Discuss Question
Answer: Option B. -> Reverse Repo
Question 27. Blue Chip securities refer to .........................
  1.    Shares of any company
  2.    Shares of company which are listed to any stock exchange
  3.    Shares of bad companies
  4.    Shares of good companies
  5.    None of these
 Discuss Question
Answer: Option D. -> Shares of good companies
Question 28. SEBI controls .........................
  1.    Capital Market
  2.    Money Market
  3.    Banking Industry
  4.    Agriculture Markets
  5.    None of these
 Discuss Question
Answer: Option A. -> Capital Market
Question 29.

The financial year of RBI starts from ...........................

  1.    1st April
  2.    1st June
  3.    1st July
  4.    1st September
  5.    1st Decemebr
 Discuss Question
Answer: Option C. -> 1st July
Question 30.

The largest financial conglomerate of India is .....................

  1.    HDFC Bank
  2.    ICICI Bank
  3.    IFCI
  4.    SBI
  5.    None of these
 Discuss Question
Answer: Option D. -> SBI

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