Economics (Part – XIII)

Total Questions: 50

1. Which one is not included in Non-Banking Financial Institutions (NBFIs)? [S.S.C. Online C.G.L.(T-I) 11.09.2016 (Shift-I)]

Correct Answer: (d) BOI
Solution:Among the given options are all Non-Banking Financial Institutions except BOI (Bank of India).

2. An asset that has remained in the substandard category for a period of 12 months is classified as a______ asset by a bank. [S.S.C. Online MTS (T-I) 12.10.2021 (Shift-III)]

Correct Answer: (d) doubtful
Solution:An asset that has remained in the substandard category for a period of 12 months is classified as a doubtful asset by a bank.

3. ________ is a record of assets and liabilities of any firm. [S.S.C. Online CGL (T-I) 03.12.2022 (Shift-III)]

Correct Answer: (c) Balance sheet
Solution:A company's balance sheet is a financial record of its liabilities, assets and shareholder's equity at a specif-ic date. It helps evaluate a business's capital structure and calculates the return rate for its investors.
  • A bailout is a general term for extending financial support to a company or a country facing a poten-tial bankruptcy threat.
  • A bailout is a general term for extending financial support to a company or a country facing a poten-tial bankruptcy threat.
  • A bill file is the official collection of documents that are produced during a bill's journey through the legislative process.
  • The balance of payments (BOP) is the record of all international financial transactions made by the residents of a country

4. Which of the following banks has launched an online platform 'Infinite India' in December 2020, to cater the needs of foreign companies looking to establish or expand business in India? [S.S.C. Online CHSL (T-I) 16.04.2021 (Shift-II)]

Correct Answer: (c) ICICI Bank
Solution:ICICI Bank announced the launch of an online plat-form for foreign companies looking to establish or expand business in the country called 'Infinite India'. The platform offers them banking solutions as well as value-added services.

5. Who is the founder of the Grameen Bank of Bangladesh? [S.S.C. Online CHSL (T-I) 19.04.2021 (Shift-III)]

Correct Answer: (d) Professor Muhammad Yunus
Solution:Economist and Nobel Laureate (2006) Prof. Moham-mad Yunus is the founder of Bangladesh Gramin Bank. This bank gives collective loans to poor people on easy terms for self-employment.

6. The minimum paid up equity capital to set up a small finance bank should be of _______ as proposed by RBI as of May 2020. [S.S.C. Online CIISL (T-I) 12.08.2021 (Shift-II)]

Correct Answer: (d) 200 crores
Solution:The minimum paid up equity capital to set up a small finance bank should be 200 crores; as proposed by RBI as of May 2020.

7. In which of the following states is the headquar. ters of IDBI (Industrial Development Bank of India) located? [S.S.C. Online C.G.L. (T-I) 20.08.2021 (Shift-I)]

Correct Answer: (d) Maharashtra
Solution:The headquarters of IDBI (Industrial Development Bank of India) is located in Maharashtra.

8. Where do the banks use the major portion of the deposits? [S.S.C. Online MTS (T-I) 9.10.2017 (Shift-III)]

Correct Answer: (b) To extend loans
Solution:Banks use the major portion of the deposits to extend loans and earn profit from it.

9. What are the deposits in the bank accounts that can be withdrawn on demand called? [S.S.C. Online MTS (T-I) 9.10.2017 (Shift-I)]

Correct Answer: (b) Demand deposits
Solution:The amount deposited in the bank account, which can be withdrawn on demand, is called demand deposit. The amount deposited in Time Deposits can be withdrawn only after a certain period.

10. The amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda (BoB) came into effect from: [S.S.C. Online C.G.L. (T-I) 9.03.2020 (Shift-III)]

Correct Answer: (a) 1ˢᵗ April 2019
Solution:The amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda (BoB) came into effect on April 1,2019.