When did the Government appoint for transfer of stake?
Answer: A
To facilitate an ordinance published for providing the requisite statutory provisions in the State Bank of India Act, 1955, the Government appointed 29 June as the date for transfer of stake. On the same principle, the Government also acquired RBI's shareholding in National Housing Bank (NHB) and NABARD. The Reserve Bank holds a 72.5% stake in NABARD and 100% stake in NHB.
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"Basel Committee on Banking Supervision" is also known as ___________________________.
Answer: B
At the end of 1974, the central bank governors of the G10 countries established a Committee on Banking Regulations and Supervisory Practices. The Committee was designed as a forum for regular cooperation between its member countries on banking supervisory matters.
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Which of the following are to be followed by Commercial Banks for risk management?
Answer: A
Basel II is the second of the Basel Accords which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision.
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What does the letter 'S' denote in the term IFSC?
Answer: C
The Indian Financial System Code (IFSC Code) is an alphanumeric code that uniquely identifies a bank-branch participating in the Real Time Gross Settlement (RTGS) and the National Electronic Funds Transfer (NEFT) Systems.
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When did the Reserve Bank of India notify the draft regulations relating to the Credit Information Companies (Regulation) Act, 2005?
Answer: A
The Reserve Bank of India (RBI) notified the draft regulations relating to the Credit Information Companies (Regulation) Act, 2005 on April 5, 2006. Among the major features of the regulations is the inclusion of stock brokers and telecommunication companies in the category of 'specified users' of services of credit information companies. It is expected that there will be a boost to the development of credit, based on a more reliable information base, once the regulations are finalised.
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When did insurance begin in Babylon?
Answer: A
The Babylonians developed a system which was recorded in the Code of Hammurabi
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Which of the following is true about the functions performed by RBI -
(i) It is the Bank of Issue
(ii) It acts as banker to the Government
(iii) It is the banker of other banks
(iv) It regulates the flow of credit
Answer: C
The Reserve Bank of India, as the central bank of the country, functions as the sole bank with the right of issuing paper notes, it acts as banker to the Government, it is the banker to other bank and it regulates the flow of credit.
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Which bank was united with the Punjab National Bank in 1993?
Answer: C
The New Bank of India which was running at a loss was united with the Punjab National Bank in September 1993. 19 nationalised banks along with the State Bank of India, which was nationalised in 1956, now constitute the public sector banks.
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The new privately-owned domestic banks that started functioning with the approval of the RBI as per the issue of guidelines in January 1993 include:
(i) UTI Bank Ltd. (Registered Office : Ahmedabad)
(ii) IndusInd Bank Ltd. (Pune)
(iii) ICICI Bank Ltd. (Baroda)
(iv) Global Trust Bank Ltd. (Secunderabad)
(v) HDFC Ltd. (Mumbai)
(vi) Centurion Bank Ltd. (Since amalgamated with HDFC Bank in 2008) (Panaji)
(vii) Bank of Punjab Ltd. (Chandigarh)
(viii) Times Bank Ltd. (Faridabad)
(ix) IDBI Bank Ltd. (Indore)
(x) Development Credit Bank Ltd. (Mumbai)
Answer: D
Subsequent to the issue of guidelines in January 1993 for the entry of new private sector banks, the RBI granted approval for the setting up of 13 new privately owned domestic banks. Out of these, 10 have already started functioning. These include UTI Bank Ltd. (Registered Office: Ahmedabad); IndusInd Bank Ltd. (Pune); ICICI Bank Ltd. (Baroda); (iv) Global Trust Bank Ltd. (Secunderabad); (v) HDFC Ltd. (Mumbai); Centurion Bank Ltd. (amalgamated with the HDFC Bank in 2008) (Panaji); Bank of Punjab Ltd. (Chandigarh); Times Bank Ltd. (Faridabad); IDBI Bank Ltd. (Indore); Development Credit Bank Ltd. (Mumbai)
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When was general insurance business nationalised?
Answer: C
The nationalisation of general insurance business from 1 Jan 1973, was the effect of the General Insurance Business (Nationalisation) Act. 107 insurers were grouped into four companies: National Insurance Company, the New India Assurance Company, the Oriental Insurance Company and the United India Insurance Company.
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