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Banking Quiz Set- 13

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Q1. Who is the head of the committee appointed for Capital Account Convertibility in Banks?
(1) M.B. Shah
(2) Mukul Mudgal
(3) M. Damodaran
(4) S.S. Tarapore
(5) None of these

Q2. The Concept of ‘Universal Banking’ was implemented in India on the recommendations of:
(1) Abid Hussai Committee
(2) R H Khan Committee
(3) S Padmanabhan Committee
(4) YH Malegam Committee
(5) None of these

Q3. Which among the following committee is related with the issues and concerns in the Non-banking financial Companies (NBFCs) sector?
(1) Ragu Ram Committee
(2) Usha Thorat Comiittee
(3) Shome Committee
(4) Tarapore Committee
(5) None of these

Q4. Who among the following is the head of the committee formed by SEBI to frame a single set of guidelines for all types of foreign investors?
(1) Prabhat Kumar
(2) T.R. Prasad
(3) K.M. Chandrashekhar
(4) Kamal Pande
(5) None of these

Q5. What does ‘Kite Flying’ refers to in the banking terminology?
(A) The practice of depositing and withdrawing frequently in a bank account.

(B) Opening of multiple accounts with different names by any individual
(C) Doing unauthorised business
(D) Permitting drawls against uncleared cheques
(E) None of these

Q6. Which of the following banks was first to establish merchant banking business in India?
(a) ABN Amro Bank
(b) Citibank
(c) HDFC Bank
(d) Standard chartered
(e) Grindlays Bank

Q7.Among M1, M2, and M3 (Different criteria of money), which is used to forecast inflation data of a country? However it is not used by Indian economy.
(a) M3
(b) M1
(c) M2
(d) All of the above
(e) None of the above

Q8. Commercial banks money is divided into M1-M3, whereas central bank money is known as________
(a) MBZ
(b) MBM
(c) MB
(d) MCB
(e) None of these

Q9. What is ‘STT’?
(a) Standard Transaction Tax

(b) Securities transaction tax
(c) Securities transfer tax
(d) Standard transfer tax
(e) None of these

Q10. Expand FIPB –
(a) Foreign Investment Promotion Brochure
(b) Foreign Investment Production Board
(c) Foreign Investment Promotion Board
(d) Foreign Direct Investment Promotion Board
(e) None of these

 

ANSWER:-

1)(4) S.S. Tarapore

2)(2) R H Khan Committee

3)(2) Usha Thorat Comiittee

4) (3) K.M. Chandrashekhar

5)D) Permitting drawls against uncleared cheques
Kite flying is a technical term used for a type of cheque fraud.Some parties utilize the cheque purchase facility for raising finance in a dubious manner by maintaining accounts with two or more banks for this purpose and taking advantage of the facility allowed by the banks of drawing against uncleared cheques. Such transactions are called kite flying.

6)(e) Grindlays Bank

7)(c) M2 (M2=M1 + Savings deposits of office savings banks. )

8)(c) MB

9)(b) Securities transaction tax (Securities transaction tax is a type of tax levied on gains from securities. This includes mainly equities and futures and options. )

10) (c) Foreign Investment Promotion Board (The finance secretary is the chairman of the Foreign Investment Promotion Board (FIPB). FIPB is a single window clearance system proposals on foreign direct investments )

 

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