MCQs: Banking Regulation Act, RBI Act & NaBFID
MCQs: Banking Regulation Act, 1949, RBI Act, 1934 & NaBFID
Test your knowledge on important banking laws and institutions. Ideal for competitive exams like IBPS, SBI, RBI Grade B, and more.
Q1: Suppose a DFI gives a loan of Rs. 10,00,000 at an interest rate of 8% for 5 years. What is the total interest earned?
a) Rs. 3,00,000
b) Rs. 4,00,000
c) Rs. 5,00,000
d) Rs. 6,00,000
Q2: In which year was the Banking Regulation Act enacted?
a) 1935
b) 1949
c) 1956
d) 1969
Q3: Which section of the Banking Regulation Act gives RBI the power to inspect banks?
a) Section 22
b) Section 35
c) Section 49
d) Section 21
Q4: What is the minimum paid-up capital required for a new bank under the Banking Regulation Act?
a) Rs. 5 crore
b) Rs. 100 crore
c) Rs. 200 crore
d) Rs. 50 crore
Q5: Under which section can RBI cancel a banking license?
a) Section 22
b) Section 36
c) Section 26
d) Section 45
Q6: The Reserve Bank of India Act was passed in the year?
a) 1934
b) 1935
c) 1947
d) 1950
Q7: RBI started functioning from?
a) April 1, 1935
b) January 26, 1950
c) August 15, 1947
d) March 31, 1934
Q8: Under RBI Act, which section deals with issuance of banknotes?
a) Section 17
b) Section 22
c) Section 35
d) Section 7
Q9: Who appoints the Governor of RBI?
a) Parliament
b) RBI Board
c) Prime Minister
d) Government of India
Q10: What does NaBFID stand for?
a) National Bank for Farmers and Industrial Development
b) National Bank for Financial and Infrastructure Development
c) National Bank for Financing Infrastructure and Development
d) None of the above
Q11: When was NaBFID established?
a) 2019
b) 2020
c) 2021
d) 2022
Q12: What is the primary objective of NaBFID?
a) Regulate cooperative banks
b) Fund agricultural subsidies
c) Finance infrastructure projects
d) Promote microfinance institutions
Q13: Which of the following is a DFI in India?
a) NABARD
b) HDFC Bank
c) SBI
d) Axis Bank
Q14: SIDBI focuses on financing which sector?
a) Infrastructure
b) Agriculture
c) Large Corporates
d) MSMEs
Q15: ICICI was originally established as a?
a) Commercial bank
b) Cooperative society
c) Development finance institution
d) Stock exchange
Q16: Which body regulates the functioning of DFIs in India?
a) Ministry of Finance
b) RBI
c) SEBI
d) NITI Aayog
Q17: What is the interest earned on Rs. 5,00,000 at 6% p.a. for 3 years?
a) Rs. 90,000
b) Rs. 1,00,000
c) Rs. 75,000
d) Rs. 1,10,000
Q18: NaBFID is categorized as?
a) Private Bank
b) Non-Banking Financial Company
c) Development Financial Institution
d) Cooperative Bank
Q19: Which institution was merged into IDBI Bank?
a) SIDBI
b) IFCI
c) ICICI
d) IDBI Ltd.
Q20: Which section of RBI Act allows RBI to regulate monetary policy?
a) Section 45
b) Section 7
c) Section 21
d) Section 17
Q21: RBI is a?
a) Cooperative Bank
b) Commercial Bank
c) Central Bank
d) Development Bank
Q22: NaBFID Act was passed by?
a) SEBI
b) RBI
c) Parliament of India
d) Finance Commission
Q23: NaBFID is under administrative control of?
a) RBI
b) Ministry of Corporate Affairs
c) Ministry of Finance
d) Planning Commission
Q24: Total amount repaid on a loan of Rs. 6,00,000 at 5% for 4 years?
a) Rs. 7,20,000
b) Rs. 7,00,000
c) Rs. 6,90,000
d) Rs. 6,50,000
Q25: Which institution primarily funds agriculture?
a) SIDBI
b) NABARD
c) ICICI
d) IFCI
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