CBSE Class 11 Business Studies E Banking Worksheet

e-Banking:-It means using the electronic media.e-banking is a service provided by many banks that allows a customer to conduct banking transactions such as managing savings,checking accounts,applying for loans or paying bills over the Internetusing personal computer or laptop or mobile phone.

e-banking /range of services offered by e-banking are:

• Electronic Funds Transfer System(EFTS)—It is a system by which a bank transfers wages and salaries directly from the company’s account to the accounts of employees of the company.

• Automated Teller Machine(ATM)—It is a self service terminal open 24 hours a day.The customer inserts his plastic card into the terminal and then inserts the identification code.The machine responds by giving cash.

• Point of Sales(POS)—A Point of Sale terminal is located in the shop/store. It is tied electronically to a bank computer.When a customer presents his debit card,the terminal automatically transfers money from the customer’s account to the seller’s account.

• Credit Cards—It is a plastic card issued by a bank to its customers,containing name,photo and signatures of the customer and the name of the bank.The customer can buy goods and services at specified outlet by showing his credit card upto the credit limit which depends on the credit-worthiness of the customer.

Benefits of e-Banking to Customers

1.e-Banking provides 24 hours a dayx365 days a year services to the customers.

2.Customers can make transactions from office or house or while travelling via mobile telephone.

3. There is a greater customer satisfaction through e-Banking as it offers unlimited access and greater security as they can avoid travelling with cash.

4. It includes a sense of financial discipline by recording each and every transaction.

Benefits of e-Banking to Banks

1. E-banking provides competitive advantage to the bank,adds value to the banking relationship.

2. E-Banking provides unlimited network to the bank and is not limited to the number of branches.

3. Load on branches can be reduced by establishing centralized data base.

4. E-Banking lowers the transaction cost.

Question. Which of the following institutions is responsible for the supervision of RRBs?
A. RBI
B. SEBI
C. NABARD
D. GOI
E. Both (A) and (C)

Answer : E. Both (A) and (C)
Explanation: NABARD has been sharing with the Reserve Bank of India certain supervisory functions in respect of cooperative banks and Regional Rural Banks (RRBs).

Question. By which rate is the domestic current rate of currency converted into foreign currency?
A. Bank Rate
B. CRR
C. Stock Exchange Rate
D. Repo Rate
E. Exchange Rate

Answer : E. Exchange Rate
Explanation: An exchange rate aka a (foreign-exchange rate, forex rate, FX rate or Agio) between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country‘s currency in terms of another currency.

Question. Which of the following was the first credit rating agency of India?
A. CIBIL
B. Equifax
C. CRISIL
D. ICRA
E. Experian

Answer : A. CIBIL
Explanation: Credit Information Bureau (India) Ltd; CIBIL is India‘s first Credit Information Company, also commonly referred as a Credit Bureau. We collect and maintain records
of individuals‘ and non-individuals‘ (commercial entities) payments pertaining to loans and credit cards. These records are submitted to us by banks and other lenders on a monthly basis; using this information a Credit Information Report (CIR) and Credit Score is developed, enabling lenders to evaluate and approve loan applications. A Credit Bureau is licensed by the RBI and governed by the Credit Information Companies (Regulation) Act of 2005.

Question. The largest shareholder of a nationalized bank is_______
A. RBI
B. Government of India
C. NABARD
D. All of the Above
E. None of the Above

Answer : B. Government of India
Explanation: Public Sector Banks (PSBs) are banks where a majority stake (i.e. more than 50%) is held by a government.The shares of these banks are listed on stock exchanges. There are a total of 27 PSBs in India [21 Nationalized banks + 6 State bank group (SBI + 5 associates)]In 2011 IDBI bank and in 2014 Bharatiya Mahila Bank were nationalized with a minimum capital of Rs 500 crore.

Question. Which of the following comes under the category of Development Banks?
A. Industrial Development Banks
B. Agricultural Development Banks
C. Housing Development Banks
D. Export-Import Development Banks
E. All of the Above

Answer : E. All of the Above

Question. An open source platform for mobile-to-mobile fund transfers without account details launched by NPCI was ________
A. Unified Payment Interface
B. Union of Payment Interface
C. Payment Interface
D. Unique Payment Interface
E. People‘s Payment Interface

Answer : A. Unified Payment Interface
Explanation: UPI allows you to pay directly from your bank account to different merchants without the hassle of typing your card details, or netbanking/wallet password.

Question. With which article of the Indian Constitution is Money Bill related?
A. Article 110
B. Article 109
C. Article 108
D. Article 107
E. None of the Above

Answer : A. Article 110
Explanation: Under Article 110(1) of the Constitution, a Bill is deemed to be a Money Bill if it contains only provisions dealing with all or any of the following matters:
(a) the imposition, abolition, remission, alteration or regulation of any tax;
(b) regulation of borrowing by the government;
(c) custody of the Consolidated Fund or Contingency Fund of India, and payments into or withdrawals from these Funds;
(d) appropriation of moneys out of the Consolidated Fund of India;
(e) declaring of any expenditure to be expenditure charged on the Consolidated Fund of India or the increasing of the amount of any such expenditure;
(f) receipt of money on account of the Consolidated Fund of India or the public account of India or the custody or issue of such money or the audit of the accounts of the Union or of a State; or
(g) any matter incidental to any of the matters specified in sub-clauses (a) to (f).

Question. CGTMSE stands for _______
A. Central Government Fund Trust for Medium and Small Enterprises
B. Central Government Fund Transfer fund for Medium and Small Enterprises
C. Central Government Fund for Medium Size Enterprises
D. Credit Guarantee Fund Trust for Micro and Small Enterprises
E. None of the Above

Answer : D. Credit Guarantee Fund Trust for Micro and Small Enterprises
Explanation: Government of India and SIDBI set up the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
The main objective is that the lender should give importance to project viability and secure the credit facility purely on the primary security of the assets financed. The other objective is that the lender availing guarantee facility should endeavor to give composite credit to the borrowers so that the borrowers obtain both term loan and working capital facilities from a single agency.

Question. The structure of the registry which will enable quick sharing of information about unstructured borrowers and help banks fight bad loans. The registry is called_______
A. CIBIL
B. Fraudelent Borrowers List
C. RBI wilful Defaulter List
D. Central Fraud Registry
E. None of the Above

Answer : D. Central Fraud Registry
Explanation: The Reserve Bank of India has operationalised a Central Fraud Registry (CFR). The registry will make available more information to banks at the time of starting a banking relationship, extending credit facilities or at any time during the operation of an account. The CFR is a centralised searchable database which can be accessed by banks.

Question. Public Debt Management Agency (PDMA) is being to set up to prevent leakages and development of the ___________
A. Treasury Market
B. Bond Market
C. Money Market
D. Capital Market
E. Call Money Market

Answer : B. Bond Market
Explanation: The government‘s intention to set up a Public Debt Management Agency (PDMA) is not only required for the development of the bond market in the country, but it would also prevent leakages of public funds.

Question. Banks can not generally accept interest-free deposits. which of the following is an exception to this rule?
A. Current Account
B. Savings Account of Minors
C. Deposit from Minority groups
D. BSBDA
E. None of the Above

Answer : A. Current Account
Explanation: Banks cannot accept interest free deposits other than in current account.

Question. The agency which is tasked with collecting analysing and disseminating information related to dubious financial transactions is ________
A. Financial Intelligence Unit(FIU)
B. Financial Action Task Force(FATF)
C. Central Economic Intelligence Bureau(CEIB)
D. Central Intelligence Bureau(CIB)
E. Financial Stability Board(FSB)

Answer : A. Financial Intelligence Unit(FIU)
Explanation: The Financial Intelligence Unit (FIU), an agency tasked with collecting, analysing and disseminating information related to dubious financial transactions.The main function of FIU-IND is to receive cash/suspicious transaction reports, analyse them and, as appropriate, disseminate valuable financial information to intelligence/enforcement agencies and regulatory authorities.

Question. Who finalises the value and volume of the notes to be printed every year?
A. Independently by Ministry of Finance
B. Independently by Ministry of Government of India
C. Committee of Bank Heads
D. With Mutual Consultation of the GOI and Bank Heads
E. With Mutual Consultation of the RBI and GOI

Answer : E. With Mutual Consultation of the RBI and GOI
Explanation: The Reserve Bank based on the demand requirement indicates the volume and value of banknotes to be printed each year to the Government of India which get finalized after mutual consultation. The quantum of banknotes to be printed, broadly depends on the requirement for meeting the demand for banknotes, GDP growth, replacement of soiled banknotes, reserve stock requirements, etc.

Question. e-KYC is possible only for those who have _______
A. PAN Card
B. Driving License
C. Ration Card
D. Aadhaar Number
E. None of the Above

Answer : D. Aadhaar Number
Explanation: e-KYC is possible only for those who have Aadhaar numbers. While using e-KYC service, you have to authorise the Unique Identification Authority of India (UIDAI), by explicit consent, to release your identity/address through biometric authentication to the bank branches/business correspondent (BC). The UIDAI then transfers your data comprising name, age, gender, and photograph of the individual, electronically to the bank/BC.

Question. RBI has imposed how much fine on 13 banks for violation of FEMA and lapses in know your client (KYC) rules?
A) Rs 24 crore
B) Rs 25 crore
C) Rs 27 crore
D) Rs 28 crore
E) Rs 29 crore

Answer : C Rs 27 crore
Explanation: The Reserve Bank of India has come down hard on 13 banks and fined them for Rs 27 crore for violation of FEMA and lapses in know your client (KYC) rules.

Question. The practice of lending money to unrelated individuals, or “peers”, without going through a traditional financial intermediary such as a bank or other traditional financial institution is called__________
A. B2B transactions
B. C2C transactions
C. P2P lending
D. PPP Model
E. P2P Investing

Answer : C. P2P lending
Explanation: P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders directly with borrowers.

Question. Deposits under Foreign Currency Non-Resident(FCNR) scheme can be accepted for a minimum of________
A. Six months
B. Three months
C. One year
D. 15 days
E. None of the Above

Answer : C. One year
Explanation: The deposits should be accepted under the Foreign Currency Non-Resident(FCNR) Scheme for the following maturity periods:
One year and above but less than two years
Two years and above but less than three years
Three years and above but less than four years
Four years and above but less than five years
Five years only

Question. What is the full form of FCCB?
A. Foreign Currency convertible Bond
B. Foreign Currency credit Bond
C. Financial Consortium and Credit Bureau
D. Future Credit and Currency Bureau
E. None of the Above

Answer : A. Foreign Currency convertible Bond
Explanation: Foreign currency convertible bonds (FCCBs) are a special category of bonds. FCCBs are issued in currencies different from the issuing company‘s domestic currency. A convertible bond is a mix between a debt and equity instrument.

Question. What is the ceiling on amount of Insured deposits kept by one person in different branches of a bank?
A. Rs.25000
B. Rs.50000
C. Rs.75000
D. Rs.1,00,000
E. Rs.2,00,000

Answer : D. Rs.1,00,000
Explanation: The deposits kept in different branches of a bank are aggregated for the purpose of insurance cover and a maximum amount upto Rupees one lakh is paid.

Question. Which of the following private banks has signed an agreement with Reliance Jio Money for One-Click payment service ?
A. Laxmi Vilas Bank
B. Federal Bank
C. South Indian Bank
D. Karnataka Bank
E. Karur Vysya Bank

Answer : B. Federal bank
Explanation: Federal bank has signed an agreement with Reliance Jio Money for One-Click payment service. Reliance Jio money is a wallet application that will be launched soon for mobile devices where Federal bank will enable a direct payment option for its customers.

Question. A minimum yearly deposit of ________ is required to open and maintain a PPF account, and a maximum deposit of _____.
A. Rs. 500 and Rs 1.50 lakhs
B. Rs. 1000 and Rs 2.50 lakhs
C. Rs. 2000 and Rs 3.50 lakhs
D. Rs. 5000 and Rs 4.50 lakhs

Answer : A. Rs. 500 and Rs 1.50 lakhs
Explanation: A minimum yearly deposit of Rs. 500 is required to open and maintain a PPF account, and a maximum deposit of Rs.1.5 lakhs (as on Financial year 2015-2016) can be made in a PPF account in any given financial year. The subscriber should not deposit more than Rs.1.50 lac per annum as the excess amount will neither earn any interest nor will be eligible for rebate under Income Tax Act. The amount can be deposited in lump sum or in a maximum of 12 instalments per year.

Question. Which of the following General Insurance Company has entered into agreement with Shamrao Vithal Co-operative (SVC) Bank for bancassurance business?
A. Reliance General Insurance Co. Ltd.
B. L&T General Insurance Co. Ltd.
C. HDFC ERGO General Insurance Co. Ltd.
D. Future Generali India Insurance Co. Ltd.
E. Tata AIG General Insurance Co. Ltd.

Answer : C HDFC ERGO General Insurance Co. Ltd.
Explanation: HDFC ERGO General Insurance Company and Shamrao Vithal Co-operative (SVC) Bank announced their bancassurance agency partnership to provide range of non-life insurance offerings to the customers of the bank.
The partnership combines HDFC ERGO‘s experience in introducing innovative non-life insurance products with SVC Bank‘s customer base across various states.

Question. Which of the following works is/are done by Credit Information Companies?
A. Collecting records of an individual‘s payments pertaining to loans
B. Maintaining records of an individual‘s payments pertaining to credit cards
C. Creating Credit Information Reports
D. All of the Above
E. None of the Above

Answer : D. All of the Above
Explanation: Credit Information Companies collects and maintains records of an individual‗s payments pertaining to loans and credit cards. These records are submitted to Credit Information Companies by banks and other lenders, on a monthly basis. This information is then used to create Credit Information Reports (CIR) and credit scores which are provided to lenders in order to help evaluate and approve loan applications.

Question. The Reserve Bank of India imposed how much penalty on Bank of Baroda in the alleged Rs 6000 crore forex related irregularities that came to light in October last year?
A. Rs 5 crore
B. Rs 7 crore
C. Rs 5.5 crore
D. Rs 6.2 crore
E. Rs 6 crore

Answer : A Rs 5 crore
Explanation: The RBI carried out an inspection after Rs 6,100 crore import remittances were effected by Bank of Baroda‘s Ashok Vihar branch in New Delhi.

Question. The record of all economic transactions between the residents of a country and the rest of the world in a particular period is known as _______
A. Balance in Current Account
B. Balance in Capital Account
C. Trade Settlements
D. Balance of Trade
E. Balance of Payments

Answer : E. Balance of Payments
Explanation: The balance of payments (BOP) is the method countries use to monitor all international monetary transactions at a specific period of time.A record of all transactions made between one particular country and all other countries during a specific time period.

Question. Which of the following banks have become the first banks to join SWIFT‟s global payments initiative?
A. ICICI and HDFC Bank
B. IndusInd Bank and SBI
C. PNB and Federal Bank
D. Axis Bank and ICICI
E. ICICI and SBI

Answer : D Axis Bank and ICICI
Explanation: Global payments leader SWIFT said that ICICI Bank and Axis Bank have become the first domestic lenders to sign up for its global payments innovation initiative, which already has over 70 other leading banks globally.
The initiative aims to enhance cross-border payments by leveraging Swift‘s messaging platform and global reach and in the first phase, the initiative will focus on business-tobusiness payments.

Question. RBI has imposed a fine of Rs 1 crore on which of the following banks for flouting bill discounting norms?
A. Syndicate Bank
B. United Bank of India
C. Indian Overseas Bank
D. UCO Bank
E. Vijaya Bank

Answer : D UCO Bank
Explanation: Reserve Bank of India has told state-run Uco Bank to pay Rs 1 crore penalty for flouting bill discounting norms which allowed current account holders siphon out funds.

Question. What is the initial minimum paid-up equity capital required for new on-tap license to set up private bank as announced by RBI?
A. Rs 5 crore
B. Rs 100 crore
C. Rs 500 crore
D. Rs 50 crore
E. Rs 200 crore

Answer : C Rs 500 crore
Explanation: The Reserve Bank of India released norms for on-tap permits for private sector banks and said the validity of the in-principle approval issued by the RBI will be 18 months from the date of granting in-principle approval.
1. The initial minimum paid-up voting equity capital for a bank shall be 500 crore rupees.
Thereafter, the bank shall have a minimum net worth of 500 crore rupees at all times.
2. Resident individuals and professionals having 10 years of experience in banking and finance at a senior level are also eligible to promote universal banks.

Question. The Headquarters of National Payments Corporation of India(NPCI) is ________
A. New Delhi
B. Hyderabad
C. Mumbai
D. Chennai

Answer : C. Mumbai
Explanation: National Payments Corporation of India (NPCI), Mumbai is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks‘ Association (IBA). The RBI, after setting up the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS) in 2005, released a vision document incorporating a proposal to set up an umbrella institution for all the RETAIL PAYMENT SYSTEMS in the country. The core objective was to consolidate and integrate the multiple systems with varying service levels into nation-wide uniform and standard business process for all retail payment systems.

Question. Micro Units Development Refinance Agency (MUDRA) has a corpus of _______,and credit guarantee corpus of ________
A. Rs 25,000 crore and Rs.3,000 crore
B. Rs 20,000 crore and Rs.4,000 crore
C. Rs 15,000 crore and Rs.4,000 crore
D. Rs 20,000 crore and Rs.3,000 crore

Answer : D. Rs 20,000 crore and Rs.3,000 crore
Explanation: The bank will have an initial corpus of Rs 20,000 crore and a credit guarantee fund of and Rs.3,000 crore. The bank will initially function as a non-banking financial company and a subsidiary of the Small Industries Development Bank of India (SIDBI).

Question. Authorised capital of National Payments Corporation of India (NPCI) is _________ and paid up capital is _______
A. Rs 300 crore and Rs 100 crore
B. Rs 350 crore and Rs 50 crore
C. Rs 200 crore and Rs 100 crore
D. Rs 100 crore and Rs 50 crore

Answer : A. Rs 300 crore and Rs 100 crore
Explanation: National Payments Corporation of India (NPCI) was incorporated in December 2008 and the Certificate of Commencement of Business was issued in April 2009. It has been incorporated as a Section 8 company under Companies Act, 2013 and is aimed to operate for the benefit of all the member banks and their customers. The authorised capital has been pegged at Rs 300 crore and paid up capital is Rs 100 crore so that the company can create infrastructure of large dimension and operate on high volume resulting payment services at fraction of the present cost structure.

Question. Which of the following banks is ready to acquire Microfinance Grama Vidiyal?
A. Bandhan Bank
B. Yes Bank
C. Axis Bank
D. Kotak Mahindra Bank
E. IDFC Bank

Answer : E IDFC Bank
Explanation: Private sector lender IDFC Bank announced the acquisition of Tamil Nadu-based Grama Vidiyal Microfinance that will help it widen the reach.

Question. NABARD was set up with an initial capital of __________
A. 100 crore
B. 200 crore
C. 300 crore
D. 500 crore

Answer : A. 100 crore
Explanation: NABARD was set up with an initial capital of 100 crore. Currently the share capital between Government of India and RBI, the paid up capital stood at 5000 crore with Government of India holding 4,980 crore (99.60%) and Reserve Bank of India 20.00 crore (0.40%).

Question. Minimum amount that can be invested in Kisan Vikas Patra(KVP) Certificate is_________
A. Rs.100
B. Rs.200
C. Rs.500
D. Rs.1000

Answer : D. Rs.1000
Explanation: KVP certificates are available in the denominations of Rs 1000, Rs 5000, Rs 10000 and Rs 50000. The minimum amount that can be invested is Rs 1000. However, there is no upper limit on the purchase of KVPs.

Question. A payments company OKI installed 600 automatic teller machines with cash recycling abilities for State Bank of India. OKI has its headquarters in
A. England
B. Singapore
C. USA
D. Malaysia
E. Japan

Answer : E. Japan
Explanation: The company which is headquartered in Japan and operates out of Mumbai in India manufactures ATMs which work with recyclable cash and has both cash acceptance mechanism along with cash dispensing in their teller machines.
Indian banks which mostly deploy standalone ATMs have very recently taken to the new technology of machines with both depositing as well as dispensing abilities.

Question. The amount invested in Kisan Vikas Patra(KVP) would get doubled in ________ months.
A. 100
B. 105
C. 110
D. 115

Answer : C. 110
Explanation: The amount invested in Kisan Vikas Patra would get doubled in 110 months or nine years and two months. The interest rate of KVP is 7.8 per cent annually.

Question. The 5-year National saving certificate has the interest rate of _____________
A. 7.1%
B. 7.2%
C. 8.1%
D. 8.2%

Answer : C. 8.1%
Explanation: National Savings Certificates, popularly known as NSC, is an Indian Government Savings Bond, primarily used for small savings and income tax saving investments in
India. These can be purchased from any Post Office in India by an adult (either in his/her own name or on behalf of a minor), a minor, a trust, and two adults jointly. These are issued for five and ten year maturity and can be pledged to banks as collateral for availing loans. Currently the 5-year National saving certificate has the interest rate of 8.1%.

Question. The Public Provident Fund(PPF) has the interest rate of _____________
A. 7.1%
B. 7.2%
C. 8.1%
D. 8.2%

Answer : C. 8.1%
Explanation: The Public Provident Fund is a savings-cum-tax-saving instrument in India, introduced by the National Savings Institute of the Ministry of Finance in 1968.The aim of the scheme is to mobilize small savings by offering an investment with reasonable returns combined with income tax benefits. The current interest rate effective from 1 April 2016 is 8.1% Per Annum‘ (compounded annually).

Question. Which of the following banks has teamed up with Apollo to set up asset reconstruction company (ARC)?
A. SBI
B. Punjab National Bank
C. Axis Bank
D. ICICI Bank
E. Both A and D

Answer : D. ICICI Bank
Explanation: With the banking sector buffeted by bad loans, the country‘s largest private lender ICICI Bank teamed up with private equity major Apollo Global Management to launch an asset reconstruction company.
ICICI and Apollo have signed a memorandum of understanding to set up the ARC, which will acquire debt from lenders and also take equity stakes in borrowers, a bank statement read.

Question. The China-led Asian Infrastructure Investment Bank (AIIB) approved its first set of loans amounting to $ 509 million to four countries. Which of the following Is not among these 4 countries?
A. Bangladesh
B. Indonesia
C. Pakistan
D. Nepal
E. Tajikistan

Answer : D Nepal
Explanation: AIIB headquartered in Beijing, China, has given loan to finance projects in four countries viz. Bangladesh, Pakistan, Indonesia and Tajikistan.

Question. Which of the following holds majority stake in RRBs?
A. Central Government
B. State Government
C. Sponsor Banks
D. All of the Above

Answer : A. Central Government
Explanation: The Regional Rural Banks were owned by the Central Government, the State Government and the Sponsor Bank.
Central Government-50%
State Government- 15%
Sponsor Banks- 35%.

Question. Which of the following has exited the shareholding of CIBIL?
A. ICICI and Bank of India
B. United Bank of India and Aditya Birla Trustee Company Private Ltd.
C. United Bank of India and Bank of Baroda
D. ICICI and Bank of Baroda
E. Indian Overseas Bank and ICICI

Answer : D ICICI and Bank of Baroda
Explanation: ICICI Bank has sold its whole six per cent stake in the company, while Bank of Baroda has sold its whole five per cent holding.

Question. Cabinet Committee on Economic Affairs (CCEA) cleared the proposal of Axis Bank for increasing foreign shareholding limit from existing 62 per cent to ____ per cent.
A. 70%
B. 84%
C. 74%
D. 65%
E. None of these

Answer : C 74%
Explanation: Cabinet Committee on Economic Affairs (CCEA) headed by Prime Minister Narendra Modi cleared the proposal of Axis Bank for increasing foreign shareholding limit from existing 62 per cent to 74 per cent.

Question. In National Savings Certificates, investment up to ________ per annum qualifies for IT Rebate under section 80C of Income Tax Act.
A. Rs.10 lakh
B. Rs.2 lakh
C. Rs.5 lakh
D. Rs.1 lakh

Answer : D. Rs.1 lakh
Explanation: There is no maximum limit for investment. Certificates can be kept as collateral security to get loan from banks. Investment up to INR 1,00,000/- per annum qualifies for IT Rebate under section 80C of Income Tax Act. Trust and HUF cannot invest. Rate of interest effective from 1st April 2016 is 8.10%

Question. Who has been named as the best banking CEO in Asia?
A. Shikha Sharma
B. Uday Kotak
C. Chanda Kochar
D. Aditya Puri
E. Arundhati Bhattacharya

Answer : D Aditya Puri
Explanation: Aditya Puri, the chief executive and managing director of the second largest private sector lender HDFC Bank has been ranked as the best banking CEO in Asia by the investor community.

Question. Sudarshan Sen has been appointed as the Executive Director of RBI. He replaced
A. NS Vishwanathan
B. KR Subramaniam
C. Sarvesh Rana
D. NS Iyer
E. None of these

Answer : A. NS Vishwanathan
Explanation: The Union Government has appointed NS Vishwanathan as deputy governor of the Reserve Bank of India (RBI). His appointment was approved by the Appointments
Committee of the Cabinet (ACC) presided by Prime Minister Narendra Modi in New Delhi.
In his place, Sudarshan Sen has been appointed.

Question. Which of the following bansk has launched „Elite‟ card on the Master Card World platform which is enabled with NFC (Near Field Communication) technology?
A. ICICI
B. PNB
C. SBI
D. Axis Bank
E. Canara Bank

Answer : C. SBI
Explanation: This allows customers a contactless payment experience, adding more speed and suave to their wallets.
The new card comes with a joining fee of Rs 4,999 and all customers will receive a welcome gift worth Rs 5,000 in the form of vouchers from popular lifestyle and travel brands.

Question. Who has been appointed as the head of Working Group on Fin Tech and Digital Banking by RBI?
A. NS Vishwanathan
B. KR Subramaniam
C. Sarvesh Rana
D. NS Iyer
E. Sudarshan Sen

Answer : E. Sudarshan Sen
Explanation: The Reserve Bank of India (RBI) has set up an inter-regulatory Working Group to study the regulatory issues relating to Financial Technology (Fintech) and Digital Banking in India The inter-regulatory Working Group will be headed by RBI‘s Executive Director Sudarshan Sen and consist of 12 members.

Question. With ICICI and BoB sold there shareholding in CIBIL, who has bought their percentage of shares?
A. Aditya Birla Trustee Company Private Ltd.
B. Indian Overseas Bank
C. TransUnion International Inc
D. Union Bank of India
E. India Infoline Finance Limited

Answer : C. TransUnion International Inc
Explanation: Earlier the shareholding patterns of CIBIL were
TransUnion International Inc (66.1%)
ICICI Bank Ltd (6%)
Bank of Baroda (5%)
Bank of India (5%)
Union Bank of India (5%)
Indian Overseas Bank (5%)
Aditya Birla Trustee Company Private Ltd. (4%)
India Alternatives Private Equity Fund (2.9%)
India Infoline Finance Limited (1%)

Question. National Housing Bank (NHB), a wholly owned subsidiary of _________
A. RBI
B. Government Of India
C. IRDAI
D. State Government

Answer : A. RBI
Explanation: National Housing Bank (NHB) is an apex level institution for housing. NHB was set up on July 9, 1988 under the National Housing Bank Act, 1987. NHB is wholly owned by Reserve Bank of India, which contributed the entire paid-up capital.

Question. According to rating agency Fitch, Indian banks will need approximately how much capital by 2019 to meet new Basel III capital norms?
A. $100 billion
B. $90 billion
C. $85 billion
D. $70 billion
E. $95 billion

Answer : B. $90 billion
Explanation: According to rating agency Fitch, Indian banks will need about $90 billion of capital to meet new Basel III capital norms to be implemented by the financial year ending March 2019, more than 80% of which will be needed by public sector lenders.

Question. As per the Exim Bank Act, at a particular point in time, the Exim Bank can have a maximum of _________ directors on its Board.
A. 16
B. 15
C. 14
D. 13

Answer : A. 16
Explanation: As per the Exim Bank Act, at a particular point in time, the Bank can have a maximum of 16 directors on its Board.
Including Chairman and Managing Director, the Bank‘s Board constitutes of 13 directors who are appointed by the GOI, they are five top level Government of India functionaries, three directors from scheduled commercial banks and four directors who are industry/trade experts. Three other directors are nominated by the Reserve Bank of India (RBI), Industrial Development Bank of India (IDBI) and ECGC Ltd respectively.

Question. Which of the following holds majority stake in NABARD?
A. RBI
B. Government Of India
C. IRDAI
D. None of the Above

Answer : B. Government Of India
Explanation: National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India, having headquarters in Mumbai, Maharashtra. RBI sold its stake in NABARD to the Government of India, which now holds 99% stake.

Question. Currently Small Industries Development Bank of India(SIDBI) is a wholly owned subsidiary of _______
A. RBI
B. IDBI
C. 34 Government of India owned / controlled institutions
D. None of the Above

Answer : C. 34 Government of India owned / controlled institutions
Explanation: Small Industries Development Bank of India(SIDBI) was incorporated initially as a wholly owned subsidiary of Industrial Development Bank of India. Currently the ownership is held by 34 Government of India owned / controlled institutions.

Question. Which of the following is/are an entity founded by SIDBI?
A. Credit Guarantee Fund Trust for Micro and Small Enterprises
B. SIDBI Venture Capital Ltd
C. ISARC
D. All of the Above

Answer : D. All of the Above
Explanation: Credit Guarantee Fund Trust for Micro and Small Enterprises – provides collateral-free loans extended to SME.
SIDBI Venture Capital Ltd – a venture capital company focussed at SME.
SME Rating Agency of India Ltd – provides composite ratings to SME.
ISARC – India SME Asset Reconstruction Company.

Question. Micro Units Development and Refinance Agency(MUDRA) Bank has been headquartered in _______
A. Mumbai
B. Bangalore
C. New Delhi
D. Hyderabad

Answer : C. New Delhi
Explanation: Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution has been headquartered in New Delhi. It provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs. It was launched by Prime Minister Narendra Modi.

Question. Deposit Insurance and Credit Guarantee Corporation ( DICGC) is a subsidiary of________
A. RBI
B. IDBI
C. 34 Government of India owned / controlled institutions
D. None of the Above

Answer : A. RBI
Explanation: Deposit Insurance and Credit Guarantee Corporation ( DICGC) is a subsidiary of Reserve Bank of India.
It was established under Deposit Insurance and Credit Guarantee Corporation Act, 1961 for the purpose of providing insurance of deposits and guaranteeing of credit facilities. DICGC insures all bank deposits, such as saving, fixed, current, recurring deposits for up to the limit of Rs. 100,000 of each deposits in a bank.

Question. The Regional Rural Banks were owned by _________
A. Central Government
B. State Government
C. Sponsor Banks
D. All of the Above

Answer : D. All of the Above
Explanation: The Regional Rural Banks were owned by the Central Government, the State
Government and the Sponsor Bank.
Central Government-50%
State Government- 15%
Sponsor Banks- 35%.

Question. Recently, Yeldi Softcom received a licence for RBI to set up which of the following?
A. open wallet
B. semi-closed wallet
C. closed wallet
D. semi-open wallet
E. None of these

Answer : B. semi-closed wallet
Explanation: Yeldi Softcom received its semi-closed wallet license on Wednesday from the Reserve Bank of India. This opens up a new league of possibilities in terms of the products that could be launched by Yeldi Softcom to bring in further avenues to carry out cashless transactions.
Semi-closed wallet is a payment instrument that is accepted by a predefined set of merchants that have been contracted specifically by the issuer of the semi-closed wallet.

Question. ECGC Limited (Export Credit Guarantee Corporation of India Ltd) is a company wholly owned by?
A. RBI
B. Government Of India
C. IRDAI
D. NABARD

Answer : B. Government Of India
Explanation: ECGC Ltd. (Export Credit Guarantee Corporation of India Ltd.), wholly owned by Government of India, was set up in 1957 with the objective of promoting exports from the country by providing Credit Risk Insurance and related services for exports. It functions under the administrative control of Ministry of Commerce & Industry, and is managed by a Board of Directors comprising representatives of the Government, Reserve Bank of India, banking, and insurance and exporting community.