Modern Banking And Insurance Set 3

Bachelor of Arts in Economics (BA Economics)

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This set of Modern Banking and Insurance Multiple Choice Questions & Answers (MCQs) focuses on Modern Banking And Insurance Set 3

Q1 | NEFT is ---------------------- payment system facilitating one to one fund transfer.
  • nationwide
  • state wide
  • region wise
  • district wise.
Answer: nationwide
Q2 | The minimum amount to be remitted through RTGS is R.S
  • 2 lakh
  • 5 lakh
  • 10 lakh
  • 1 lakh.
Answer: 2 lakh
Q3 | NEFT operates in ---------------- batches
  • hourly
  • daily
  • weekly
  • monthly.
Answer: hourly
Q4 | CTS in India is a project undertaken by -------------------
  • sbt
  • pnb
  • sib
  • rbi.
Answer: rbi.
Q5 | CTS in INDIA is undertaken during
  • 2000
  • 2005
  • 2008
  • 2010.
Answer: 2008
Q6 | RBI first implemented CTS at[a] Delhi [b] Kolkata [c] Mumbai [d] Bangalore. 63. CTS operation started across the country in
  • 2000
  • 2008
  • 2014
  • 2010
Answer: 2000
Q7 | The banking ombudsman scheme is introduced under ----------------- section ofbanking regulation Act
  • 35 a
  • 35
  • 25
  • 73.
Answer: 35 a
Q8 | The banking ombudsman scheme is introduced by
  • rbi
  • prime minister
  • finance minister
  • president.
Answer: rbi
Q9 | The banking ombudsman scheme working is effect from
  • 1990
  • 1995
  • 2000
  • 2005.
Answer: 1995
Q10 | Narasimham committee submitted its report in------------------
  • january 1991
  • march 1991
  • september 1991
  • november 1991.
Answer: november 1991.
Q11 | Narasimham committee II submitted its report in------------------
  • 1998
  • 1992
  • 1995
  • 1990
Answer: 1998
Q12 | Insurance is a-----------------------------------------
  • charity
  • gambling
  • a contract
  • discount .
Answer: charity
Q13 | The Indian Marine Insurance Act was passed in
  • 1963
  • 1774
  • 1779
  • 1781.
Answer: 1963
Q14 | Marine insurance was first started in
  • italy
  • germany
  • france
  • india.
Answer: italy
Q15 | Lloyd’s Association formed policy in the year
  • 1779
  • 1970
  • 1875
  • 1995.
Answer: 1779
Q16 | Fire insurance was firstly used at-----------------------------
  • italy
  • germany
  • india
  • france
Answer: germany
Q17 | Fire Insurance Company opened in London by
  • nicholas borban
  • crowther
  • shyer
  • kevin
Answer: nicholas borban
Q18 | First fire insurance company opened at
  • london
  • italy
  • germany
  • france
Answer: london
Q19 | In India first fire insurance company was established in
  • 1850
  • 1870
  • 1860
  • 1890
Answer: 1850
Q20 | The first life insurance policy was issued in the year
  • 1653
  • 1675
  • 1850
  • 1665.
Answer: 1653
Q21 | As an institution life insurance was established in
  • 1653
  • 1679
  • i1769
  • 1980.
Answer: 1679
Q22 | LIC was established on September
  • 1952
  • 1956
  • 1948
  • 1964.
Answer: 1956
Q23 | In India Insurance Act was passed in
  • 1912
  • 1990
  • 1969
  • 1964.
Answer: 1912
Q24 | The first Indian Insurance company started in the year
  • 1882
  • 1956
  • 1850
  • 1982.
Answer: 1850
Q25 | Life insurance business was nationalized in the year
  • 1956
  • 1948
  • 1850
  • 1912.
Answer: 1956
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