Money and Banking Objective Questions in English

Money and Banking Objective Questions in English

Money and Banking Objective Questions in English

1. The largest revenue in India is obtained from __________

(A) Railways

(B) Excise Duty

(C) Sales Tax

(D) Direct Taxes

Ans : (B)


2. The tax levied by Central Government and collected by State Government is ________

(A) Stamp Duty

(B) Excise Duty

(C) Income Tax

(D) Gift Tax

Ans : (A)


3. What is the major share in revenue of State Governments?

(A) Stamp Duty

(B) Excise Duty

(C) Sales Tax

(D) Income Tax

Ans : (C)


4. The tax levied by Local Governments i.e. Municipal Corporations and municipalities is ____________

(A) Income Tax

(B) Wealth Tax

(C) House Tax

(D) Gift Tax

Ans : (C)


5. The tax collected by the State Governments and given to local bodies is __________

(A) Income Tax

(B) Wealth Tax

(C) House Tax

(D) Professional Tax

Ans : (D)


6. The period for Call Money is ________

(A) 10 to 15days

(B) 1 to 14 Days

(C) 15 to 30 Days

(D) One Month

Ans : (B)


7. Who regulates the money circulation in India?

(A) State Bank of India

(B) Reserve Bank of India

(C) NABARD

(D) Commercial Banks

Ans : (B)


8. Which of the following is not an organized sector in India?

(A) Nationalised Banks

(B) Regional Rural Banks

(C) Cooperative Banks

(D) Chits and Money lenders

Ans : (D)


9. Who will settle the grievances of customers of banks?

(A) Reserve Bank of India

(B) State Bank of India

(C) Local Courts

(D) Ombuds Men

Ans : (D)


10. Who introduced the Banking Ombudsmen Scheme?

(A) ARBI

(B) SBI

(C) Ministry of Finance

(D NABARD

Ans : (A)


11. When was OMBUDS MEN SCHEME first introduced?

(A) November 2006

(B) October 1981

(C) June 1995

(D) January 1998

Ans : (C)


12. Which was the firth Bank corporated by the Indians? (1881)

(A) Imperial Bank of India

(B) State Bank of India

(C) Avadh Commercial Bank

(D) Reserve Bank of India

Ans : (C)


13. When was the Avadh Commercial Bank established?

(A) 881

(B) 1894

(C) 1898

(D) 1899

Ans : (A)


14. When was Reserve Bank of India established?

(A) 1920

(B) 1925

(C) 1935

(D) 1948

Ans : (C)


15. When was Reserve Bank of India Nationalised?

(A) 1947

(B) 1948

(C) 1949

(D) 1950

Ans : (C)


16. When was Indian Banking Act come into force?

(A) 1948

(B) 1949

(C) 1950

(D) 1951

Ans : (B)


17. Imperial Banks were amalgamated and changed as _________

(A) Reserve Bank of India

(B) State Bank of India

(C) Subsidiary Banks

(D) Union Bank of India

Ans : (B)


18. When was Imperial Bank was Changed as State Bank of India?

(A) January 1st 1935

(B) Feb 26 1947

(C) July 1st 1955

(D) July 1st 1959

Ans : (C)


19. How many banks were first nationalised?

(A) 10

(B) 12

(C) 14

(D) 16

Ans : (C)


20. When was the second phase of nationalisation done?

(A) 9th July 1969

(B) 10th July 1968

(C) 16th August 1985

(D) 15th April, 1980

Ans : (D)


21. How many banks were in second phase of nationalisation?

(A) 4

(B) 5

(C) 6

(D) 7

Ans : (C)


22. Who will act as the banker to the Government of India?

(A) State Bank of India

(B) Reserve Bank of India

(C) NABARD

(D) Nationalised Banks

Ans : (B)


23. Where is the Head Quarter of Reserve Bank of India?

(A) Mumbai

(B) Delhi

(C) Kolkotta

(D) Ahmedabad

Ans : (A)


24. Who was first governor of Reserve Bank of India?

(A) K. A. Narasimham

(B) V. K. Malhotra

(C) A. K. Vadia

(D) A. B. A Smith

Ans : (D)


25. When was Lead Bank Scheme introduced?

(A) 1967

(B) 1968

(C) 1969

(D) 1974

Ans : (C)

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