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Banking & Financial AwarenessEasyAsked in: SSC MTS · 10 May, 2023, Shift 2

The head office of National Bank for Agricultural and Rural Development is located in _______.

  1. A.Pune
  2. B.Mumbai
  3. C.Chennai
  4. D.Kolkata

Correct answer

B. Mumbai

Explanation

The correct answer is B, Mumbai. The National Bank for Agriculture and Rural Development has its head office in Mumbai, in the Bandra Kurla Complex. NABARD was set up on 12 July 1982 under an Act passed in 1981, on the advice of the Sivaraman Committee, and it took over the rural credit work that the Reserve Bank and the Agricultural Refinance and Development Corporation had been doing. It is the apex body for rural finance: it refinances cooperative banks and regional rural banks rather than lending much directly to farmers, supervises those banks, runs the Rural Infrastructure Development Fund and links self-help groups to banks under its microfinance programme. It is fully owned by the Government of India. A is wrong because Pune houses the National Insurance Academy, not NABARD. C is wrong because Chennai is the headquarters of Indian Bank and Indian Overseas Bank. D is wrong because Kolkata is the headquarters of UCO Bank and Bandhan Bank. Exam tip: NABARD, Mumbai, set up 12 July 1982 on the Sivaraman Committee's recommendation.

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Q2.Banking & Financial AwarenessAsked in: CDS · CDS-I 2018, GKHard

Which of the following statements about the India Post Payments Bank (IPPB) is/are correct? 1. It has been incorporated as a Public Limited Company. 2. It started its operation by establishing two pilot branches at Hyderabad and Varanasi. Select the correct answer using the code given below.

  1. A.1 only
  2. B.2 only
  3. C.Both 1 and 2
  4. D.Neither 1 nor 2
Show answer
Correct answer: A. 1 only

IPPB was incorporated as a public limited company, but its two pilot branches opened at Raipur and Ranchi, not at Hyderabad and Varanasi.

Q3.Banking & Financial AwarenessAsked in: UPSC Civil Services · CSE Prelims 2017, GS Paper IEasy

Consider the following statements : 1. National Payments Corporation of India (NPCI) helps in promoting the financial inclusion in the country. 2. NPCI has launched RuPay, a card payment scheme. Which of the statements given above is/are correct ?

  1. A.1 only
  2. B.2 only
  3. C.Both 1 and 2
  4. D.Neither 1 nor 2
Show answer
Correct answer: C. Both 1 and 2

The National Payments Corporation of India was set up in 2008 as the umbrella body for retail payments in the country, on the initiative of the Reserve Bank of India and the Indian Banks' Association, under the Payment and Settlement Systems Act, 2007.

Q4.Banking & Financial AwarenessAsked in: UPSC Civil Services · CSE Prelims 2026, GS Paper IHard

Consider the following statements about the Non-Banking Financial Companies (NBFCs) in India : 1. NBFCs cannot accept demand deposits. 2. All the NBFCs operating in India have to be registered with the RBI. 3. NBFCs form part of the payment and settlement system and can issue cheque drawn on itself. 4. Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation (DICGC) is not available to the depositors of deposit taking NBFCs. Which of the statements given above is/are correct ?

  1. A.1 and 4
  2. B.1, 2 and 3
  3. C.4 only
  4. D.2, 3 and 4
Show answer
Correct answer: A. 1 and 4

These are two of the three ways the RBI itself says an NBFC differs from a bank. An NBFC lends and invests like a bank, but it cannot accept demand deposits such as savings or current accounts, so statement 1 is correct.