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1) Reverse Repo is a tool used by RBI to-
a) Inject liquidity
b) Absorb liquidity
c) Increase the liquidity with the banking system
d) To keep the liquidity at one level
e) None of the given options is true
2) The note-issue system in India is based on
a) Gold Deposit system
b) Minimum Reserve System
c) Proportional Reserve System
d) Simple Deposit System
e) None of the given options is true
3) Drawing, accepting, making or issuing of any promissory note, hundi or bill of exchange expressed to be payable to bearer on demand by a person other than the Reserve Bank of India or the Central Government is prohibited under-
a) Banking Regulation Act, 1949
b) Section 31 (1) of the Reserve Bank of India Act, 1934
c) Negotiable Instruments Act, 1881
d) Indian Contract Act, 1872
e) None of the given options is true
4) The term ‘moral suasion’ refers to-
a) The moral duty of a borrower to deal with only one bank
b) The banker’s duty of secrecy as regards the affairs and accounts of his customers
c) The advice was given by Reserve Bank to banks/financial institutions in the matter of their lending land other operations with the objective that they might implement or follow it
d) All of the above
e) None of the given options is true
5) The opening of branches by banks is governed by the provisions of-
a) Section 23 of the Banking Regulation Act, 1949
b) Section 24 of Reserve Bank of India Act, 1934
c) Section 131 of the Negotiable Instruments Act, 1881
d) Section 45 and Bank Nationalisation Act, 1969
e) None of the given options is true
6) In which state, Harangi dam is located?
a) Kerala
b) Karnataka
c) Tamil Nadu
d) Andhra Pradesh
e) Telangana
7) PISA is an international study by which of the following organization?
a) IMF
b) World Bank
c) OECD
d) UNESCO
e) UNDP
8) Asirgarh fort is located in which state?
a) Rajasthan
b) Gujarat
c) Madhya Pradesh
d) Maharashtra
e) Telangana
9) What is the currency of Liberia?
a) Dollar
b) Euro
c) Rand
d) Leone
e) Franc
10) May 28 is observed as the World Hunger Day. What was the 2019 theme for the day?
a) Sustainability
b) Ending Global Hunger
c) Stop Staying Hunger
d) Hunger: It’s about People
e) Hunger is not about Food
Answers :
1) Answer: b)
Repo operations therefore inject liquidity into the system. Reverse repo operation is when RBI borrows money from banks by lending securities. The interest rate paid by RBI is in this case is called the reverse repo rate. Reverse repo operation therefore absorbs the liquidity in the system.
2) Answer: b)
Initially, the proportional reserve system was adopted in India. Later on, India adopted the minimum reserve system and is still continuing with this system of note issue. The entire issue of currency notes is subjected to the regulations framed in the RBI Act, 1935.
3) Answer: b)
Section 31 – Issue of demand bills and notes-
Under Section 31 (1) No person in India other than the Bank, or, as expressly authorized by this Act the Central Government shall draw, accept, make or issue any bill of exchange, hundi, promissory note or engagement for the payment of money payable to bearer on demand, or borrow, owe or take up any sum or sums of money on the bills, hundis or notes payable to bearer on demand of any such person:
Provided that cheques or drafts, including hundis, payable to bearer on demand or otherwise may be drawn on a person’s account with a banker, shroff or agent
4) Answer: c)
The advice was given by Reserve Bank to banks/financial institutions in the matter of their lending land other operations with the objective that they might implement or follow it.
5) Answer: a)
The opening of new branches and shifting of existing branches of banks is governed by the provisions of Section 23 of the Banking Regulation Act, 1949. In terms of these provisions, banks cannot, without the prior approval of the Reserve Bank of India (RBI), open a new place of business in India or abroad or change, otherwise than within the same city, town or village, the location of the existing place of business.
Section 23 (2) of the Banking Regulation Act lays down that before granting any permission under this section, the Reserve Bank may require to be satisfied, by an inspection under Section 35 or otherwise, as to the financial condition and history of the banking company, the general character of its management, the adequacy of its capital structure and earning prospects and that public interest will be served by the opening or, as the case may be, change of location of the existing place of business. RRBs should approach the concerned Regional Offices of RBI in this regard.
6) Answer: b)
Harangi dam is located in Kodagu district in Karnataka. It is built across the river Harangi which is a tributary of river Kaveri.
Major dams in Karnataka are-Krishna Raja Sagar Dam, Tungabhadra Dam, Supa Dam, Almatti Dam
7) Answer: c)
The Program for International Student Assessment (PISA) is a worldwide study by the Organization for Economic Co-operation and Development (OECD) in member and non-member nations intended to evaluate educational systems by measuring 15-year-old school pupils’ scholastic performance on mathematics, science, and reading. India signed an agreement with OECD to participate in PISA 2021.
8) Answer: c)
Asirgarh fort is located in Burhanpur district in Madhya Pradesh. This fort connects the valley of Narmada and Tapti rivers and therefore known as the ‘key to the Deccan’.
Major forts of Madhya Pradesh are-Athiya Fort, Bajrangarh Fort, Dhar Fort, Gwalior Fort
9) Answer: a)
Currency of Liberia is Liberian Dollar. The country is located in Africa with Monrovia as the capital. Liberia is divided into 15 countries which are subdivided into 90 districts.
10) Answer: a)
Sustainability is the 2019 central theme of the World Hunger Day. The main aim is to raise awareness of chronic hunger and celebrate the achievements of millions of people who are already taking actions to end their own hunger. World Hunger Day is an initiative by The Hunger Project. The day aims to celebrate sustainable solutions to hunger and poverty.
This post was last modified on July 26, 2019 2:16 pm