General Awareness Quiz for ECGC PO & Bank Mains Exams 2021- 6th February

Q1. Which of the following is not insured by Deposit Insurance and Credit Guarantee Corporation (DICGC)?
(a)Cooperative Banks
(b)Commercial Banks
(c)Foreign Banks functioning in India
(d)Primary Co-operative societies
(e)None of the above

Q2. In which year DICGC Act was passed?
(a)1962
(b)1961
(c)1979
(d)1971
(e)1993

Q3. Which scheme of DICGC Is currently not functional?
(a)Insurance for Fixed Deposits
(b)Insurance for Current Deposits
(c)Insurance for Recurring Deposits
(d)Credit guarantee scheme
(e)None of the above

Q4. Which of the following is insured by the DICGC?
(a)Foreign bank in India
(b)Commercial Bank
(c)Regional ruler bank
(d)Local area bank
(e)All of the above

Q5. Which of the following co-operative bank is insured by the DICGC?
(a)Primary cooperative bank
(b)Center cooperative bank
(c)Urban cooperative bank
(d)State cooperative bank
(e)All of these

Q6. What is the authorized capital of DICGC?
(a)Rs 50 crore
(b)Rs 10 crore
(c)Rs 70 crore
(d)Rs 100 crore
(e)Rs 500crore

Q7. Where is the headquarters of DICGC located?
(a)Chennai
(b)Mumbai
(c)Bangalore
(d)Kolkata
(e)Delhi

Q8. In which year DICGC was formed?
(a)1978
(b)1962
(c)1961
(d)1970
(e)1972

Q9. In the event of bank failure, which of the following protected bank deposit that are payable in India?
(a)GOI
(b)RBI
(c)IRDAI
(d)DICGC
(e )None of these

Q10. Which of the following deposited is insured by DICGC?
(a)Saving
(b)Current
(c)Fixed Deposit
(d)RD
(e)All of these

Q11. Which of the following is not insured by the DICGC?
(a)Central cooperative bank
(b)Urban cooperative bank
(c)Primary cooperative societies
(d)State cooperative bank
(e)Primary cooperative bank

Q12. What is the maximum deposit amount insured by the DICGC?
(a)Rs 2 lakh
(b)Rs 3 lakh
(c)Rs 4 lakh
(d)Rs 1 lakh
(e)Rs 5 lakh

Q13. Who is the present Chairman of DICGC?
(a)B.P. Kanungo
(b)N. S. Viswanathan
(c)Viral V. Acharya
(d)Mohan Jha
(e)Mahesh Kumar Jain

Q14. Who can inspect the insured banks by DICGC?
(a)NABARD
(b)DICGC
(c)RBI
(d)Ministry of Finance
(e)None of these

Q15. DICGC Stands for________.
(a)Deposit Insurance and Credit Grantee Cooperation
(b)Details Insurance and Credit Grantee Cooperation
(c)Deposit Insured and Credit Grantee Cooperation
(d)Demand Insured and Credit Grantee Cooperation
(e)Demand Insurance and Credit Grantee Cooperation

Solutions

S1.Ans(d)
Sol. Primary Co-operative societies are not insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC).

S2.Ans(b)
Sol. The functions of the DICGC are governed by the provisions of DICGC Act 1961 framed by the Reserve Bank of India.

S3.Ans(d)
Sol. The credit guarantee scheme of DICGC is presently not operative due to availability of alternative guarantee schemes.

S4.Ans(e)
Sol. All Commercial Bank including branches of Foreign bank functioning, local area bank in India and Regional ruler bank are issued by the DICGC.

S5.Ans(e)
Sol. All State, Center and primary cooperative bank also called Urban cooperative bank functioning in state/union territory are insured by DICGC.

S6.Ans(a)
Sol. The authorized capital of the Corporation is 50 crores, which is fully issued and subscribed by the Reserve Bank of India (RBI).

S7.Ans(b)
Sol. The headquarters of DICGC located Mumbai.

S8.Ans(a)
Sol. Deposit Insurance and Credit Guarantee Corporation (DICGC) came into existence on July 15, 1978.

S9.Ans(d)
Sol. In the event of bank failure, DICGC protects bank deposits that are payable in India.

S10.Ans(e)
Sol. The DICGC insured all deposit such as Saving, Fixed, Current, Recurring.

S11.Ans(c)
Sol. Primary cooperative society.

S12.Ans(d)
Sol. Each depositor in a bank is insured up to a maximum of Rs.1,00,000 (Rupees One Lakh) for both principal and interest.

S13.Ans(a)
Sol. The executive/Chairperson of DICGC is B.P Kanungo who is a Deputy Chairman of the Resave Bank of India.

S14.Ans(c)
Sol. On Corporation’s request, the RBI is required to undertake / cause the inspection / investigation of an insured bank.

S15.Ans(a)
Sol. DICGC Stands for Deposit Insurance and Credit Grantee Cooperation.

Practice with Crash Course and Online Test Series for ECGC PO & Bank Mains 2021:

• ECGC Online Coaching Classes for Probationary Officier 2021
• ECGC PO Mock Tests 2021 – Banking Online Test Series (With Solutions) by Adda247
• Bank Test Pack Online Test Series

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