Banking & Financial Awareness Mixed Quiz: Set 28

On the standardised long-term scale, AAA means the highest degree of safety for the timely servicing of interest and principal, followed by AA for high safety, A for adequate safety and BBB for moderate safety, and running down through BB, B and C to D for default.

Credit rating agencies rate securities offered to the public, so they fall within the securities market and work under the SEBI (Credit Rating Agencies) Regulations of 1999, framed under the SEBI Act of 1992; no agency may rate a public issue of debt without registration with SEBI.

e-RUPI is a prepaid electronic voucher, delivered to the beneficiary as an SMS string or a QR code, which can be redeemed only by the named person and only for the named purpose, for example a vaccination or a diagnostic test.

The Finance Act, 2022 amended Section 2 of the Reserve Bank of India Act so that the expression bank note includes a bank note issued in digital form, which gave the digital rupee the status of legal tender.

Placement comes first because the criminal must get cash into the financial system, which he does through small deposits, the purchase of bearer instruments or by mixing the cash with the takings of a shop or a petrol pump.

Ecowrap is the research report of the State Bank of India, brought out by its economic research department. Ecowrap is written by the team of the group chief economic adviser at SBI and comments on growth, inflation, bank credit, government finances and the state of households.

The Reserve Bank introduced the Lead Bank Scheme in December 1969, a few months after the nationalisation of fourteen major commercial banks in July of the same year, so the year is easy to anchor to the nationalisation year.

The expert committee of 2014 chaired by Urjit Patel was asked to revise and strengthen the monetary policy framework; it recommended that consumer price inflation be made the nominal anchor, that a numerical inflation target be adopted, and that policy decisions be taken by a committee rather than by one…

The correct answer is C, in default or expected to be in default soon.

This is the parent law under which the Public Provident Fund, National Savings Certificate, Sukanya Samriddhi, Senior Citizens' Savings and Kisan Vikas Patra schemes are notified, and it was called the Government Savings Banks Act, 1873 until the Finance Act of 2018 renamed it.

The guidelines issued in September 2022 require that all loan money move directly between the borrower’s bank account and the bank account of the regulated entity, that is the bank or non-banking finance company doing the lending, without any pool or pass-through account of a third party in between.

IRDAI began in New Delhi but its office was shifted to Hyderabad in 2001, and this move is exactly why the question is asked: the candidate who assumes that every financial regulator sits in Mumbai or Delhi gets it wrong.

The Prevention of Money Laundering Act was passed by Parliament in 2002 and is numbered as an Act of that year, but it was brought into force only on the first of July 2005, together with the Prevention of Money-laundering Maintenance of Records Rules of 2005, which set out the…

With effect from 1 April 2020 the Corporation charges twelve paise a year on every hundred rupees of a bank assessable deposits.

The Study Group of the National Credit Council on the organisational framework for the implementation of social objectives, headed by Professor D. R. Gadgil, reported in 1969 that large parts of the country had no banking facility at all and recommended that credit be planned area by area, with a…

Weaker sections is an overlapping head that counts the borrower rather than the activity, and the Directions list small and marginal farmers, artisans with a credit limit up to two lakh rupees, beneficiaries of government sponsored schemes, Scheduled Castes and Scheduled Tribes, beneficiaries of the differential rate of interest scheme…

The Reserve Bank has directed every credit information company to provide one free full credit report to an individual once in each calendar year, on request, so that a borrower can check the record and have an error corrected before applying for a loan.

RTGS, which settles large-value transactions one by one in real time, and NEFT, which settles in batches, are both owned and operated by the Reserve Bank, and both have been available round the clock on all days.

The Directorate, which works under the Department of Revenue in the Ministry of Finance and traces its origin to the Enforcement Unit set up on the first of May 1956, registers cases under the Act, attaches property provisionally, arrests, and files prosecution complaints in the Special Court.

After the Gadgil Study Group recommended the area approach, the Reserve Bank appointed a Committee of Bankers under F. K. F. Nariman, which agreed with the area approach and added the mechanism that gave the scheme its name: each district should be allotted to one bank, which would act as…