QUIZ ON BANKING AND ECONOMICS

Quiz on Economics and Banking
Choose the correct option from the choices given under the
question.
1. The largest revenue in India is obtained from __________
1. Railways 2. Excise Duty
3. Sales Tax 4. Direct Taxes

2. The tax levied by Central Government and collected by State
Government is ________
1. Stamp Duty 2. Excise Duty
3. Income Tax 4. Gift Tax

3. What is the major share in revenue of State Governments?
1. Stamp Duty 2. Excise Duty
3. Sales Tax 4. Income Tax

4. The tax levied by Local Governments i.e. Municipal Corporations and
municipalities is ____________
1. Income Tax 2. Wealth Tax
3. House Tax 4. Gift Tax

5. The tax collected by the State Governments and given to local bodies is
__________
1. Income Tax 2. Wealth Tax
3. House Tax 4. Professional Tax

6. The period for Call Money is ________
1. 10 to 15days 2. 1 to 14 Days
3. 15 to 30 Days 4. One Month

7. Who regulates the money circulation in India?
1. State Bank Of India 2. Reserve Bank Of India
3. NABARD 4. Commercial Banks

8. Which of the following is not an organized sector in India?
1. Nationalised Banks 2. Regional Rural Banks
3. Cooperative Banks 4. Chits and Money lenders

9. Who will settle the grievances of customers of banks?
1. Reserve Bank of India 2. State Bank of India
3. Local Courts 4. Ombuds Men

10. Who introduced the Banking Ombudsmen Scheme?
1. RBI 2. SBI
3. Ministry of Finance 4. NABARD

11. When was OMBUDS MEN SCHEME first introduced?
1. November 2006 2. October 1981
3. June 1995 4. January 1998

12. Which was the firth Bank corporated by the Indians? (1881)
1. Imperial Bank of India 2. State Bank Of India
3. Avadh Commercial Bank 4. Reserve Bank of India

13. When was the Avadh Commercial Bank established?
1. 1881 2. 1894
3. 1898 4. 1899

14. When was Reserve Bank of India established?
1. 1920 2. 1925
3. 1935 4. 1948

15. When was Reserve Bank of India Nationalised?
1. 1947 2. 1948
3. 1949 4. 1950

16. When was Indian Banking Act come into force?
1. 1948 2. 1949
3. 1950 4. 1951

17. Imperial Banks were amalgamated and changed as _________
1. Reserve Bank of India 2. State Bank of India
3. Subsidiary Banks 4. Union Bank of India

18. When was Imperial Bank was Changed as State Bank of India?
1. January 1st 1935 2. Feb 26 1947
3. July 1st 1955 4. July 1st 1959
]

19. How many banks were first nationalised?
1. 10 2. 12
3. 14 4. 16

20. When was the second phase of nationalisation of banks done?
1. 9th July 1969 2. 10th July 1968
3. 16th August 1985 4. 15th April, 1980

21. How many banks were in second phase of nationalisation?
1. 4 2. 5
3. 6 4. 7

22. Who will act as the banker to the Government of India?
1. State Bank of India 2. Reserve Bank of India
3. NABARD 4. Nationalised Banks

23. Where is the Head Quarter of Reserve Bank of India?
1. Mumbai 2. Delhi
3. Kolkotta 4. Ahmedabad

24. Who was first governor of Reserve Bank of India?
1. K.A. Narasimham 2. Malhotra
3. A.K. Vadia 4. A.B.A Smith

25. When was Lead Bank Scheme introduced?
1. 1967 2. 1968
3. 1969 4. 1974






Answer Key:
1.)2 2.)1 3.)3 4.)3 5.)4 6.)2 7.)2 8.)4 9.)4 10.)1 11.)3 12.)3
13.)1 14.)3 15.)3 16.)2 17.)2 18.)3 19.)3 20.)4 21.)3 22.)2 23.)1 24.)4
25.)