Banking and Financial Institutions CDS Questions

CDS Economy

Banking and Financial Institutions MCQ Questions


7.
What was the PRIMARY objective behind the nationalisation of banks in India?
A.
To privatise loss-making enterprises
B.
To increase exports and foreign exchange reserves
C.
To reduce the number of foreign banks
D.
To expand banking to rural areas and channel credit to priority sectors
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ANSWER :
D. To expand banking to rural areas and channel credit to priority sectors
8.
The Reserve Bank of India (RBI) was nationalised in which year?
A.
1935
B.
1949
C.
1955
D.
1969
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ANSWER :
B. 1949
9.
Which legislation replaced the 1969 ordinance after the Supreme Court struck it down?
A.
Reserve Bank of India Act, 1934
B.
Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970
C.
Banking Regulation Act, 1949
D.
Companies Act, 1956
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ANSWER :
B. Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970
10.
Approximately what percentage of total bank deposits did the 14 nationalised banks (1969) control?
A.
About 95 per cent
B.
About 85 per cent
C.
About 65 per cent
D.
About 50 per cent
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ANSWER :
B. About 85 per cent
11.
Which scheme, aimed at directing credit to agriculture and small industries, was strengthened after bank nationalisation?
A.
Open Market Operations
B.
Lead Bank Scheme
C.
Priority Sector Lending
D.
Differential Rate of Interest only
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ANSWER :
C. Priority Sector Lending
12.
Which committee was formed to manage and recommend reforms in the Indian banking sector in the 1990s?
A.
Narasimham Committee
B.
Kelkar Committee
C.
Rangarajan Committee
D.
Chelliah Committee
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ANSWER :
A. Narasimham Committee