1. A severe and prolonged recession, a situation of declining economic activities, is called
1) sequestration
2) stagflation
3) depression
4) deflation
5) contraction
2. The RBI revised priority sector lending (PSL) for RRBs after which what per cent of RRBs’ outstanding advances should be for PSL?
1) 25 per cent
2) 40 per cent
3) 50 per cent
4) 70 per cent
5) 75 per cent
3. A person writes a cheque, and signs it, ordering his bank to pay a person the amount of money stated. Here, the bank is called the
1) drawer
2) drawee
3) payee
4) payer
5) endorsee
4. Which among the following is NOT a salient feature of the Senior Citizens Savings Scheme, 2004?
1) Tenure – 5 years
2) Rate of interest – 9.3 per cent
3) Interest is NOT taxable
4) Investment to be in multiples of Rs 1000
5) Maxinvestment limit Rs 15 lakh
5. Which of the following will NOT be counted as an asset of a bank?
1) Cash with RBI
2) Bill and Securities discounted
3) Fixed deposits with it
4) Loans and advances given
5) Investment of bank
6. The RBI pays interest to the banks for parking their excess money with it? The rate of interest paid by the RBI in the above case is termed as
1) bank rate
2) base rate
3) repo rate
4) reverse repo rate
5) prime lending rate
7. An Indian bank authorised to deal in foreign exchange maintains an account with an overseas bank in USA in US Dollar. Such account of an Indian bank is called a
1) Nostro account
2) Vostro account
3) Loro account
4) FCNR account
5) NRO account
8. The interest earned on savings accounts is exempted from taxation up to what amount in a year?
1) Rs 1,000
2) Rs 5,000
3) Rs 10,000
4) Rs 50,000
5) It is tax free
9. Which of the following is a term deposit account that can be maintained by NRIs and PIOs in foreign currency in India?
1) NRE
2) NRO
3) FCNR
4) All the above
5) Other than those given as options
10. The Executive Board of the IMF has included renminbi (yuan) into its basket of currencies that make up the SDR. The term SDR stands for
1) Specific Drawing Right
2) Special Drawing Right
3) Structured Drawing Right
4) Systematic Drawing Right
5) None of these
Answers:
- 3
- 5
- 2
- 3
- 3
- 4
- 1
- 3
- 3
- 2
