Question 1

What is the main function of the Small Industries Development Bank of India (SIDBI)?

Accepted Answer

c) Promoting and developing small-scale industries

Question 2

What is the minimum lock-in period for a Fixed Deposit in a bank?

Accepted Answer

b) 7 days

Question 3

Who has the authority to print currency notes in India?

Accepted Answer

a) RBI

Question 4

Who is the current Governor of the Reserve Bank of India (as of my last knowledge update in September 2021)?

Accepted Answer

c) Shaktikanta Das

Question 5

The Pradhan Mantri Jan Dhan Yojana (PMJDY) primarily focuses on:

Accepted Answer

c) Financial inclusion of unbanked households

Question 6

Who issues currency notes of denominations up to Rs. 10 in India?

Accepted Answer

b) Government of India

Question 7

The National Electronic Toll Collection (FASTag) program is primarily used for:

Accepted Answer

a) Collecting highway tolls electronically

Question 8

Who is the regulating authority for Non-Banking Financial Companies (NBFCs) in India?

Accepted Answer

a) RBI

Question 9

Who introduced the concept of White Label ATMs in India?

Accepted Answer

d) RBI

Question 10

What is the primary regulator of banks in India?

Accepted Answer

a) RBI

Question 11

Which banking concept refers to the difference between interest earned and interest paid by a bank?

Accepted Answer

c) Net Interest Margin

Question 12

The term KYC in banking stands for:

Accepted Answer

b) Know Your Customer

Question 13

What does HUF stand for in the context of banking and finance?

Accepted Answer

a) Hindu Undivided Family

Question 14

Who regulates the capital market in India?

Accepted Answer

b) SEBI

Question 15

Which of the following is a co-operative bank in India?

Accepted Answer

d) Kisan Credit Cooperative Bank

Question 16

The term MUDRA in the context of Indian banking refers to:

Accepted Answer

a) Micro Units Development and Refinance Agency

Question 17

What is the minimum paid-up capital requirement for setting up a Small Finance Bank in India?

Accepted Answer

b) Rs. 200 crore

Question 18

Which of the following is a payment and settlement system used for real-time interbank transactions in India?

Accepted Answer

b) RTGS

Question 19

The Financial Stability and Development Council (FSDC) is chaired by:

Accepted Answer

a) Finance Minister of India

Question 20

What is the minimum voting right that the government of India holds in nationalised banks?

Accepted Answer

b) 51%

Indian banking system — Question Paper