Question 1

The SBI Act was passed to take over the

Accepted Answer

The State Bank of India (SBI) Act was passed to take over the Imperial Bank of India, transforming it into the State Bank of India.

Question 2

Which bank was the earliest bank started under European Directions in India?

Accepted Answer

The Bank of Hindustan was the earliest bank started under European direction in India, established in 1770.

Question 3

Vijaya Bank and which other bank merged with Bank Of Baroda?

Accepted Answer

Vijaya Bank and Dena Bank were merged with Bank of Baroda, making it the third largest bank in India.

Question 4

It serves the financial needs of large corporate house both domestic and multinational entities of public sectors and government

Accepted Answer

Corporate banking specifically caters to the financial needs of large corporate entities, including both domestic and multinational companies, as well as public sector organizations and government entities. It offers services such as loans, credit, treasury and cash management, and sometimes even advisory services.

Question 5

Bancassurance partner of TATA AIA Life Insurance

Accepted Answer

The answer of Bancassurance partner of TATA AIA Life Insurance
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Question 6

In India RTGS system was operational from?

Accepted Answer

RTGS system was operational in India from 2004.

Question 7

SIDBI launched the _________ in 1994

Accepted Answer

SIDBI launched the Micro Credit Scheme in 1994 to meet the financial needs of the poorest sections of society, particularly in rural areas, by providing them small loans. This initiative was aimed at promoting self-employment and entrepreneurship among the underprivileged.

Question 8

SSS stands for

Accepted Answer

SSS stands for Securities Settlement System, which is a system used for the transfer of securities and the associated payments between parties, typically in the context of financial markets.

Question 9

Project finance is one of the product of

Accepted Answer

The answer of Project finance is one of the product...

Question 10

It is a provision of affordable financial services to theose who tend to be excluded

Accepted Answer

Financial inclusion refers to the effort to make financial services accessible at affordable costs to all individuals and businesses, particularly those who are underserved or excluded from the financial system.

Quiz 1: Banking and Finance on Indian Banking System