Days and Years : General knowledge questions and answers

1. In which year Sarvodaya Plan was initiated?
a. 1949
b. 1960
c. 1950
d. 1940
ANSWER: c. 1950

2. What was the time period for first five year plan?
a. 1951-1956
b. 1941-1946
c. 1931-1936
d. 1950-1955
ANSWER: a. 1951-1956

3. When was the first Regional Rural bank established?
a. 3rd June, 1975
b. 2nd January, 1976
c. 2nd October, 1975
d. 2nd April, 1975
ANSWER: c. 2nd October, 1975

4. When was the ICICI Bank incorporated?
a. 1955
b. 1969
c. 1956
d. 1970
ANSWER: a. 1955

5. When was IDBI established?
a. 1965
b. 1966
c. 1964
d. 1967

ANSWER: c. 1964

6. In which year Export-Import Bank of India was established?
a. 1981
b. 1982
c. 1990
d. 1992
ANSWER: b. 1982

7. In _______ National Bank started its operations.
a. 1988
b. 1986
c. 1990
d. 1993
ANSWER: a. 1988

8. National Bank of Agriculture and Rural Development (NABARD) was established in_______
a. 1985
b. 1972
c. 1982
d. 1962
ANSWER: c. 1982

9. Imperial Bank of India was started in?
a. 27 January, 1921
b. 27 March, 1921
c. 27 July, 1921
d. 27 November, 1921
ANSWER: a. 27 January, 1921

10. When did Reserve Bank of India come into existence?
a. 14 January, 1935
b. 15 January, 1935
c. 16 January, 1935
d. 14 January, 1938
ANSWER: c. 16 January, 1935

11. When was the first bank called as ‘Bank of Hindustan’ established?
a. 1770
b. 1880
c. 1875
d. 1775

ANSWER: a. 1770

12. National Stock Exchange was incorporated in ______
a. 1994
b. 1991
c. 1993
d. 1992
ANSWER: d. 1992

13. In ______ Over the Counter Exchange of India (OTC) was incorporated?
a. 1990
b. 1991
c. 1992
d. 1993

ANSWER: a. 1990


14. When was the Value Added Tax introduced in Indian Taxation System?
a. April 1, 2005
b. April 2, 2005
c. April 1, 2006
d. April 2, 2007
ANSWER: a. April 1, 2005

15. Minimum Alternative Tax (MAT) was introduced in ________
a. 1996-97
b. 1997-98
c. 1998-99
d. 1995-96
ANSWER: b. 1997-98

16. In which month of 2004, Olympic Games were held in Greece?
a. August
b. October
c. July
d. May
ANSWER: a. August

17. _______ is celebrated as World Environment Day.

a. June 6
b. June 10
c. June 5
d. June 15
ANSWER: c. June 5

18. International Woman’s Day is celebrated on _______
a. March 8
b. April 8
c. May 8
d. June 8
ANSWER: a. March 8

19. When is National Science Day?
a. February 26
b. February 27
c. February 28
d. March 26
ANSWER: c. February 28

20. When is National Youth Day celebrated?
a. January 14
b. January 12
c. February 12
d. February 14
ANSWER: b. January 12

MCQs with answers on Banking in India - Part III

1. The performance of which scheme does the National Housing Bank monitor?

a) Liberalized Finance Scheme
b) Golden Jubilee Rural Housing Finance Scheme
c) Energy Efficient Housing Finance Scheme
d) Finance scheme for indirect loans
ANSWER: b) Golden Jubilee Rural Housing Finance Scheme

The National Housing Bank monitors the performance of the Golden Jubilee Rural Housing Finance Scheme implemented through the scheduled banks of HDFC and the Cooperative Sector Institutions. During 2009-10, 3.9 lakh dwelling units were successfully financed against a target of 3.5 lakh units.

2. When did the National Bank of Agriculture and Rural Development establish?

a) July, 1982
b) July, 1969
c) June, 1951
d) June, 1961

ANSWER: a) July, 1982

In the field of rural credit and agricultural development, establishment of NABARD is a major event. The National bank of Agriculture and Rural Development as an apex body with the responsibility for the overall development, policy, planning and financial support for agriculture and rural development was established on 12th July 1982.

3. When did the government acquire RBI's shareholding (72.5%) in NABARD?

a) May, 2008
b) June, 2008
c) August, 2008
d) March, 2009

ANSWER: b) June, 2008

In June, 2008 the government acquired 72.5 percentage of RBI's shareholding in NABARD.

4. The duration of fund raising from the commercial banks to the extent of RIDFs shortfall in agricultural lending is _________.

a) daily
b) weekly
c) monthly
d) yearly
ANSWER: d) yearly

5. When did the Government of India set up the Export-Import Bank of India?

a) January, 1982
b) January, 1993
c) March, 1971
d) June, 1969

ANSWER: a) January, 1982

In January, 1982 recognising the importance of exports in India's development programmes, the Government of India set up the Export-Import Bank of India as a statutory corporation owned completely by the Union Government.

6. The main objectives of the Export-Import Bank (EXIM Bank) are:

(i) to ensure an integrated and coordinated approach to solving the problems of exporters
(ii) to provide special attention to capital goods export and export of technical services
(iii) to tap domestic and overseas markets for resources, undertake development and finance activities in the areas of exports.
(iv) to provide financial assistance to the exporters and importers and act as the principal financial institution for coordinating the working of other institutions engaged in financing exports and imports.
(v) to provide refinance facilities to commercial banks and financial institutions against their export-import financing activities

(a) both (i) and (ii)
(b) only (iii), (iv), and (v)
(c) All the above
(d) None of the above

ANSWER: (c) All the above

The main objectives of the Export-Import Bank (EXIM Bank) are to ensure an integrated and coordinated approach to solving the problems of exporters, providing special attention to capital goods export and export of technical services, and to tap domestic and overseas markets for resources, undertaking development and financing activities in the areas of exports. The EXIM Bank provides financial assistance to the exporters and importers and acts as the principal financial institution for coordinating the working of other institutions engaged in financing exports and imports. It also provides refinance facilities to commercial banks and financial institutions against their export-import financing activities.

7. Which bank had the highest concentrations of operations overseas in 2010?

a) Bank of Baroda
b) Bank of India
c) State Bank of India
d) Union Bank of India

ANSWER: a) Bank of Baroda

Bank of Baroda had the highest concentrations of operations with 46 branches, 8 subsidiaries, 3 representative offices and 1 joint venture bank, followed by State Bank of India with 42 branches, 5 subsidiaries, 4 joint ventures and 8 representative offices, and Bank of India with 24 branches, 3 subsidiaries, 1 joint venture bank and 5 representative offices.

8. When did the Government of India appoint a committee under the chairmanship of Shri M.Narasimham to strengthen the banking system?

a) May, 2006
b) April, 1998
c) December, 1997
d) September, 2005

ANSWER: c) December, 1997

In December, 1997, the Government of India appointed a committee under the chairmanship of Shri M.Narasimham to strengthen the banking system which submitted its report in April, 1998. The government accepted some of its recommendations, viz. prudential accounting norms, and classification of government-guaranteed advances.