Category Archives: BANKING SECTOR GK

Q. The working and activity of NBFCs are registered by the Reserve Bank of India within the framework of the –

1) Reserve Bank of India Act, 1934 (Chapter 10-12)
2) Banking Regulation Act, 1949
3) Companies Act, 1956
4) Banking Companies Act, 1970 (Chapter No. 4)

3) Companies Act, 1956

Q. The Tarun Ramadorai panel set up by the Reserve Bank of India (RBI) has been tasked to look at the various facets of the –

1) Household finance in India
2) Digital Banking initiatives
3) Demonetisation
4) Payment Banks

1) Household finance in India

Which among the following function of RBI gives most clear indication that it is Bankers’ Bank in India?

[A] Issuance of Currency
[B] Ways & means advances
[C] Liquidity Adjustment Facility
[D] Maintenance of Currency Chests

Correct Answer: C [Liquidity Adjustment Facility] Explanation:
Issuance of currency makes RBI the sole agent of the government to issue currency notes, Ways and means advances are advances to the state and central government, Maintenance of currency chests comes under currency management, Collection of credit information is related to regulation of borrowers, Liquidity adjustment facility is the most appropriate option which gives an indication of RBI working as bankers` Bank.

. Ameenah Gurib-Fakim has been designated as first woman president of which country?

[D]New Zealand

The Mauritius government designated Ameenah Gurib-Fakim as the country’s new president. She is the first woman to hold the ceremonial position. The appointment of Gurib-Fakim, an internationally-renowned scientist and biologist, is subject to parliament approval. Gurib-Fakim, 56, will be the first female President of the Island, which gained independence from Britain in 1968 and which replaced Britain’s Queen Elizabeth II as its head of state in 1992.

. In context of banking, what does ‘BBB’ stands for__?

[A]Bank Broadcast Bureau
[B]Bank Beneficial Bureau
[C]Bank Blogger Bureau
[D]Bank Board Bureau

The Union Government has decided to set up Bank Board Bureau (BBB) for Public Sector Banks (PSBs), where each bank would be monitored on the basis of key performance indicators. The Bank Board Bureau will recommend appointment of directors in PSBs and advise on ways for raising funds and mergers and acquisitions to the lenders.
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