Friday, April 24, 2015

Day 11 - Questions

Day 11 - Financial Inclusion

( Financial Inclusion, Banking Correspondents, Self Help Groups, Joint Liability Groups )

Recommended Study links - (Go through these topics before attempting MCQs)

1.  Which of the following efforts fall under Financial Inclusion Plan (FIP) of RBI / government?
a.  Nationalization of banks
b.  Priority Sector Lending (PSL) targets
c.  Zero balance accounts, like BSBDA, Jan-Dhan Account, Small Account, etc.
d.  All of the above

2.  Which of the following is not true regarding Financial Inclusion Plan?
a.  Relaxed and simplified KYC norms for account opening
b.  Mandatory branches in unbanked villages
c.  BSBDA Accounts with minimum balance criteria
d.  Micro branches to be opened in rural area, that can be operated by Business Correspondents

3.  According to the new proposal on PSL, what sub-target is to be created for Micro Enterprises in India?
a.  7 %
b.  7.5 %
c.  8 %
d.  8.5 %

4.  Financial Inclusion means provision of -
a.  Financial services namely, payments, remittances, savings, loans and insurance at affordable cost to persons not yet given the same
b.  ration at affordable cost to persons not yet given the same
c.  house at affordable cost to persons not yet given the same
d.  education at affordable costs to persons not yet given the same

5.  What is the full form of 'FINO' - a term we see frequently in financial newspapers?
a.  Financial Investment Network and Operations
b.  Financial Inclusion Network and Operations
c.  Farmers' Investment in National Organization
d.  Farmers' Inclusion News and Operations

6.  Who is a Banking / Business Correspondent Agent (BCA)?
a.  An authorized representative of a bank, who offer banking services where the bank doesn't have a branch
b.  Any person who provides banking services in rural area
c.  An authorized representative of a bank, who makes profit for banks, by making business
d.  None of the above

7.  Which of the following is true regarding BCA?
a.  A BCA can provide services for more than one bank
b.  A BCA can provide services for only one bank
c.  A BCA doesn't work for banks
d.  None of the above is true

8.  Which of the followings are eligible as BCA?
i.  Individuals, like retired bank employees, retired teachers, retired gov. employees, ex-serviceman, etc.
ii.  NGOs, MFIs
iii.  Registered Cooperative Societies
iv.  Post Offices
v.  Bank employees

a.  Only (i) and (ii)
b.  All except (v)
c.  All are eligible
d.  Only (v)

9.  Which of the following is true regarding SHG?
a.  A small voluntary group of poor people, generally from the same economic background, that promotes small savings among the members and make a common fund to help themselves
b.  Government / RBI has introduced several SHG - bank linkage program for Financial Inclusion
c.  Full form of SHG is Self Help Group
d.  All of the above

10.  Suppose, two or more people have taken a loan. If one of them is unable to pay, then other members are fully liable to pay the whole amount of loan. This refers to -
a.  Joint Liability
b.  Several Liability
c.  Both (a) and (b)
d.  None of the above

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