Banking Quiz for NABARD Assistant Manager (Grade-A) | 2nd April 2018

Dear Aspirants,

With the increased competition in the field of banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness Quiz not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.

Q1. In which year NABARD was established?

(a) 1982

(b) 1976

(c) 1988

(d) 1956

(e) 1992

S1. Ans.(a)
Sol. NABARD came into existence on 12 July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC). It was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on 05 November 1982.

Q2. SIDBI set up on 2nd April _____________ under an Act of Indian Parliament, acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for coordination of functions of institutions engaged in similar activities.

(a) 1956

(b) 1999

(c) 1992

(d) 1990

(e) 1980

S2. Ans.(d)
Sol. Small Industries Development Bank of India (SIDBI) set up on 2nd April 1990 under an Act of Indian Parliament, acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for coordination of functions of institutions engaged in similar activities.

Q3. Which year National Housing Bank was set up?

(a) 1982

(b) 1988

(c) 1986

(d) 1990

(e) 1992

S3. Ans.(b)
Sol. NHB was set up on July 9, 1988, under the National Housing Bank Act, 1987.

Q4. Export-Import Bank of India is the premier export finance institution in India, established in ________________ under Export-Import Bank of India Act 1981.

(a) 1992

(b) 1988

(c) 1986

(d) 1990

(e) 1982

S4. Ans.(e)
Sol. Export-Import Bank of India is the premier export finance institution in India, established in 1982 under Export-Import Bank of India Act 1981.

Q5. The Reserve Bank of India is India’s central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on-

(a) 01st April 1934

(b) 01st April 1937

(c) 01st April 1935

(d) 01st April 1936

(e) 01st April 1949

S5. Ans.(c)
Sol. The Reserve Bank of India is India’s central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935 in accordance with the Reserve Bank of India Act, 1934.

Q6. State Bank of India is an Indian multinational, public sector banking and financial services company. SBI was established on-

(a) 01st July 1951

(b) 01st July 1954

(c) 01st July 1953

(d) 01st July 1955

(e) 01st July 1956

S6. Ans.(d)
Sol. State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. SBI was established on 01st July 1955.

Q7. Life Insurance Corporation of India is an Indian state-owned insurance group and investment company headquartered in Mumbai. LIC was established in-

(a) 1956

(b) 1962

(c) 1955

(d) 1949

(e) 1921

S7. Ans.(a)
Sol. Life Insurance Corporation of India is an Indian state-owned insurance group and investment company headquartered in Mumbai. LIC was established in 1956.

Q8. Established in ____________, FICCI is the largest and oldest apex business organisation in India.

(a) 1956

(b) 1949

(c) 1935

(d) 1921

(e) 1927

S8. Ans.(e)
Sol. Established in 1927, FICCI is the largest and oldest apex business organization in India. Its history is closely interwoven with India’s struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies.

Q9. The Insurance Regulatory and Development Authority of India is an autonomous, statutory body tasked with regulating and promoting the insurance and reinsurance industries in India. IRDAI was established in-

(a) 2001

(b) 1999

(c) 2000

(d) 1992

(e) 1990

S9. Ans.(c)
Sol. Following the recommendations of the Malhotra Committee report, in 1999, the Insurance Regulatory and Development Authority (IRDA) was constituted as an autonomous body to regulate and develop the insurance industry. The IRDA was incorporated as a statutory body in April, 2000. The key objectives of the IRDA include promotion of competition so as to enhance customer satisfaction through increased consumer choice and lower premiums while ensuring the financial security of the insurance market.

Q10. The Telecom Regulatory Authority of India (TRAI) is a statutory body set up by the Government of India under section 3 of the Telecom Regulatory Authority of India Act, 1997. TRAI was founded on-

(a) 20th February 1996

(b) 20th February 1997

(c) 20th February 1995

(d) 20th February 1992

(e) 20th February 1999

S10. Ans.(b)
Sol. The entry of private service providers brought with it the inevitable need for independent regulation. The Telecom Regulatory Authority of India (TRAI) was, thus, established with effect from 20th February 1997 by an Act of Parliament, called the Telecom Regulatory Authority of India Act, 1997, to regulate telecom services, including fixation/revision of tariffs for telecom services which were earlier vested in the Central Government.

Q11. National Institute of Bank Management (NIBM) was established in _________________ by the Reserve Bank of India, in consultation with the Government of India, as an autonomous apex institution for research, training, education, and consultancy in bank management. 

(a) 1979

(b) 1949

(c) 1969

(d) 1959

(e) 1989

S11. Ans.(c)
Sol. National Institute of Bank Management (NIBM) was established in 1969 by the Reserve Bank of India, in consultation with the Government of India, as an autonomous apex institution for research, training, education, and consultancy in bank management. Its mandate is to play a proactive role of “think-tank” of the banking system.

Q12. The Securities and Exchange Board of India (SRBI) is the regulator for the securities market in India. It was established on-

(a) 12th April 1992

(b) 12th April 1988

(c) 12th April 1990

(d) 12th April 1982

(e) 12th April 1999

S12. Ans.(a)
Sol. SEBI was established on 12th April 1992.

Q13. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established by Reserve Bank of India (RBI) as its wholly owned subsidiary on-

(a) 03rd February 1991

(b) 03rd February 1992

(c) 03rd February 1997

(d) 03rd February 1999

(e) 03rd February 1995

S13. Ans.(e)
Sol. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established by Reserve Bank of India (RBI) as its wholly owned subsidiary on 3rd February 1995 with a view to augmenting the production of bank notes in India to enable the RBI to bridge the gap between the supply and demand for bank notes in the country.

Q14. In which year, CIBIL Limited (formerly Credit Information Bureau (India) Limited) was incorporated based on recommendations made by the RBI Siddiqui Committee?

(a) 2002

(b) 2000

(c) 2001

(d) 2004

(e) 2003

S14. Ans.(b)
Sol. TransUnion CIBIL Limited (formerly Credit Information Bureau (India) Limited) was incorporated based on recommendations made by the RBI Siddiqui Committee.

Q15. The Institute for Development & Research in Banking Technology (IBDRT) is a unique institution exclusively focused on Banking Technology. Established by the Reserve Bank of India in-

(a) 2001

(b) 1999

(c) 1992

(d) 1996

(e) 1989

S15. Ans.(d)
Sol. The Institute for Development & Research in Banking Technology is a unique institution exclusively focused on Banking Technology. Established by the Reserve Bank of India in 1996, the Institution works at the intersection of Banking and Technology.