Ieifs Module C

JAIIB Examination 2024
Indian Economy & Indian Financial

System
Module C
Chapter 20
Indian Financial System - An
Overview
IE&IFS – JAIIB 2024
Q. 1
Which of the following is not part of the informal financial system? (Select the most
appropriate answer from the options given below)
(a) Money lender
(b) Mutual fund
(c) Relatives
(d) Mahajan
Answer: Option B
Q. 2
Which of the following is not part of the formal financial system?
(a) Association
(b) Banks
(c) NBFCs
(d) Insurance company
Answer: Option A
Q. 3
Which of the following is/are part of the financial system?
(a) Financial market
(b) Financial instrument
(c) Financial institution
(d) All of the above
Answer: Option D
Q. 4
Which was the first bank to be established in India?
(a) Bank of India
(b) State Bank of India
(c) Bank of Hindustan
(d) Punjab National Bank
Answer: Option C
Q. 5
In which phase of development of the financial system was focus laid on setting up of
Development Financial Institutions?
(a) Phase I
(b) Phase II
(c) Phase III
(d) Phase IV
Answer: Option B
Chapter 21
Indian Banking Structure
Q. 6
In terms of which waste of the BR Act is the business of banking defined?
(a) Section 5
(d) Section 6
(c) Section 10
(b) Section 8
Answer: Option B
Q. 7
In which year was Reserve Bank of India established?
(a) 1947
(b) 1925
(c) 1935
(d) 1955
Answer: Option C
Q. 8
What is the capital requirement for setting up a Universal Bank?
(a) Rs 100 crores
(b) Rs 200 crores
(c) Rs 500 crores
(d) Rs 750 crores
Answer: Option B
Q. 9
What is the minimum capital requirement for sitting up a Small Finance Bank?
(a) Rs 100 crores
(b) Rs 200 сrores
(c) Rs 500 crores
(d) Rs 750 crores
Answer: Option A
Q. 10
What is the maximum balance that a Payment Bank can maintain in each account?
(a) Rs 1 lakh
(b) Rs 2 lakhs
(c) Rs 5 lakhs
(d) No limit
Answer: Option B
Q. 11
A transaction carried out at an ATM of the card issuing bank is called an
____________transaction
(a) ON-US
(b) OFF-US
(c) ON-U
(d) ON-ME
Answer: Option A
Q. 12
Google pay is a
(a) Fintech company
(b) Techfin company
(c) Neo Bank
(d) Payment gateway
Answer: Option B
Chapter 22
Banking Laws - Reserve Bank of
India Act, 1934 & Banking
Regulation Act, 1949
Q. 13
In which year did the Reserve Bank of India commence its business?
(a) 1927
(b) 1935
(c) 1942
(d) 1947
Answer: Option B
Q. 14
In which year the RBI was converted into a public entity?
(a) 1935
(b) 1942
(c) 1947
(d) 1948
Answer: Option D
Q. 15
The Central Board of directors of RBI is required to meet, at least times in a year
(a) 4
(b) 6
(c) 8
(d) 12
Answer: Option B
Q. 16
Under which Act is RBI empowered to be a banker to the Government?
(a) RBI Act
(b) Banking Regulations Act
(c) Negotiable Instruments Act
(d) Public Debt Act
Answer: Option A
Q. 17
When the Banking Regulation Act 1949 was made applicable to cooperative Banks?
(a) 16 March, 1949
(b) 1 April, 1965
(c) 1 March, 1966
(d) 1 April, 1966
Answer: Option C
Chapter 23
Development Financial
Institutions
Q. 18
Which was the first DFI that was set up in India?
(a) IDBI
(b) SIDBI
(c) ICICI
(d) IFCI
Answer: Option D
Q. 19
Which of the following would come under the category of an Investing Institution?
(a) LIC
(b) ICICI
(c) Exim Bank
(d) NABARD
Answer: Option A
Q. 20
With the onset of liberalisation, what structure was adopted by the DFIs?
(a) Commercial banks
(b) Universal banks
(c) Mortgage banks
(d) Collateralised banks
Answer: Option B
Q. 21
How much was the initial capital of IFCI?
(a) Rs 10 crores
(b) Rs 25 crores
(c) Rs 50 crores
(d) Rs 100 crores
Answer: Option A
Q. 22
Which of the following DFIs had a role of counselling NRIs for their investments in
India?
(a) IFCI
(b) IDBI
(c) ICICI
(d) Exim Bank
Answer: Option C
Chapter 24
Micro Finance Institutions
Q. 23
In which year did RBI introduce the Lead Bank Scheme?
(a) 1947
(b) 1969
(c) 1970
(d) 1990
Answer: Option B
Q. 24
The Grameen Bank Model was developed in which country?
(a) India
(b) Nepal
(c) Sri Lanka
(d) Bangladesh
Answer: Option D
Q. 25
Which of the following types of MFIs are regulated by RBI?
(a) Not for Profit MFI
(b) Mutual Benefit MFI
(c) NBFC-MFI
Answer: Option C
Q. 26
In which type of financing of SHGs does an NGO act as a financial intermediary?
(a) Model I
(b) Model II
(c) Model III
(d) Model IV
Answer: Option C
Q. 27
Which of the following figures in the Fair Practices Code developed by RBI for NBFC-
MFI?
(a) There should be a board-approved loan application format
(b) No security deposit should be taken from the borrower
(c) A borrower should not be member of more than one SHG
Answer: Option D
Chapter 25
Non-Banking Financial Companies
(NBFCs)
Q. 28
When was Chapter III-B added to the RBI Act, 1934?
(a) 1947
(b) 1977
(c) 1997
(d) 2001
Answer: Option C
Q. 29
Which of the following is the regulator for Housing Finance Companies?
(a) RBI
(b) SEBI
(c) Ministry of Corporate Affairs
(d) NHB
Answer: Option A
Q. 30
A Loan Company is an NBFC, as per which type of classification?
(a) Liability based
(b) Activity based
(c) Size based
(d) None of the above
Answer: Option B
Q. 31
What is the maximum period for which an NBFD-D can accept deposits?
(a) 12 months
(b) 36 months
(c) 60 months
(d) 120 months
Answer: Option C
Q. 32
Which of the following can be considered as part of Owned Funds for an NBFC?
(a) Equity shares
(b) Compulsory convertible Preference shares
(c) Balance in share premium A/c
Answer: Option D
Chapter 26
Insurance Companies
Q. 33
The first insurance company to be established in India was
(a) LIC of India
(b) Oriental Life Insurance Co
(c) Bombay Mutual
(d) National Insurance Co.
Answer: Option B
Q. 34
What is the extent up to which FDI is presently permitted in the insurance sector?
(a) 26%
(b) 49%
(c) 74%
(d) 100%
Answer: Option C
Q. 35
The percentage of insurance premium received to GDP is known as
(a) Penetration
(b) Coverage
(c) Density
(d) Saturation
Answer: Option A
Q. 36
The ratio of insurance premium to the population is known as
(a) Penetration
(b) Coverage
(c) Density
(d) Saturation
Answer: Option C
Q. 37
What is the minimum capital that is required to establish a life insurance company?
(a) Rs 10 crores
(b) Rs 50 crores
(c) Rs 100 crores
(d) Rs 200 crores
Answer: Option C
Chapter 27
Indian Financial System Regulators
and Their Roles
Q. 38
In which year was RBI nationalised?
(a) 1927
(b) 1935
(c) 1949
(d) 1955
Answer: Option C
Q. 39
How many times, at the minimum, does the Monetary Policy Committee meet in a
year?
(a) 4
(b) 6
(c) 10
(d) 12
Answer: Option B
Q. 40
What is the rate of interest payable on CRR funds?
(a) 0.5%
(b) 1%
(c) 2%
(d) No interest is payable
Answer: Option D
Q. 41
How many full time Members are there on the SEBI Board?
(a) 3
(b) 4
(c) 5
(d) 7
Answer: Option A
Q. 42
Under the recommendations of which Committee was IRDA established?
(a) Malhotra Committee
(b) Narasimhan Committee
(c) Tandon Committee
(d) Ghosh Committee
Answer: Option A
Chapter 28
Reforms & Developments in the
Banking Sector
Q. 43
Which of the following is not a sector included in infrastructure?
(a) Textile Mills
(b) Waterworks
(c) Waterways
(d) Canal networks
Answer: Option A
Q. 44
Which of the following are characteristics of infrastructure financing?
(a) Larger amounts
(b) Longer maturities
(c) Fixed and low real rates of return
Answer: Option D
Q. 45
What is the authorised capital of NaBFID?
(a) Rs 10,000 crores
(b) Rs 25,000 crores
(c) Rs 75,000 crores
(d) Rs 1,00,000 crores
Answer: Option D
Q. 46
What is the percentage of cash settlement proposed to be made by NARCL?
(a) 5%
(b) 10%
(c) 15%
(d) 25%
Answer: Option C
Q. 47
Smart lending for aspiring India is one of the themes in which edition of EASE?
(a) EASE 1.0
(b) EASE 2.0
(c) EASE 3.0
(d) EASE 4.0
Answer: Option C

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JAIIB Examination 2024

Indian Economy & Indian Financial

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