BCom Second Year (Sem 3 & 4) Banking and Finance – Daily Revision MCQ (English Medium)
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Which of the following is a primary function of money?
Chapter 1: Money and its Functions
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Answer: C. Medium of exchange
Medium of exchange and measure of value are the primary functions; store of value, deferred payments and transfer of value are secondary.Which bank account is repayable on demand, allows any number of transactions and is mainly used by businesses?
Chapter 2: Commercial Banks: Functions and Types
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Answer: A. Current account
A current account suits traders: no limit on withdrawals or cheques and usually no interest is paid.The Reserve Bank of India was established in:
Chapter 3: Reserve Bank of India and Monetary Policy
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Answer: B. 1935
RBI began on 1 April 1935 under the RBI Act, 1934, and was nationalised in 1949.Which of the following is a qualitative (selective) credit control tool of the RBI?
Chapter 3: Reserve Bank of India and Monetary Policy
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Answer: D. Moral suasion
Moral suasion (persuading banks) is qualitative; bank rate, CRR and open market operations are quantitative tools.The Unified Payments Interface (UPI) was developed by:
Chapter 4: Digital Banking and Payment Systems
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Answer: A. National Payments Corporation of India (NPCI)
NPCI, the umbrella body for retail payments in India, developed and runs UPI.Which is the apex development bank for agriculture and rural development in India?
Chapter 5: Indian Financial System
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Answer: C. NABARD
NABARD (set up in 1982) finances and supervises agriculture and rural credit; SIDBI serves small industries and EXIM Bank foreign trade.Which of the following is a money market instrument?
Chapter 6: Money Market
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Answer: B. Treasury bill
Treasury bills are short-term (up to one year) government borrowings; the others are long-term capital market instruments.The market in which a company issues new securities to the public for the first time is the:
Chapter 7: Capital Market and SEBI
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Answer: D. Primary market
New issues (e.g. an IPO) happen in the primary market; already-issued securities are traded in the secondary market (stock exchange).SEBI was given statutory powers by an Act passed in the year:
Chapter 7: Capital Market and SEBI
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Answer: A. 1992
SEBI was formed in 1988 as a non-statutory body and became statutory under the SEBI Act, 1992.Pradhan Mantri Jan Dhan Yojana, a major financial inclusion scheme that opens basic bank accounts for all households, was launched in:
Chapter 8: Financial Inclusion and Recent Trends
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Answer: B. 2014
PMJDY was launched in August 2014 to give every household access to a basic bank account.
BCom Second Year (Sem 3 & 4): MCQ in other subjects
All questions are written by PadhaiNotes in our own words from the common syllabus of Maharashtra universities (NEP). Your own university's syllabus may differ a little.