UPSC 2010 › Indian Economy › Banking & Financial Sector
4 questions · 2010 · answers as per the UPSC key
UPSC 2010 · Q25 · Indian Economy › Banking & Financial Sector · Save
With reference to the Non-banking Financial Companies (NBFCs) in India, consider the following statements:
- They cannot engage in the acquisition of securities issued by the government.
- They cannot accept demand deposits like Savings Account.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
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Answer: (b) 2 only
UPSC 2010 · Q50 · Indian Economy › Banking & Financial Sector · Save
In India, the interest rate on savings accounts in all the nationalized commercial banks is fixed by
(a) Union Ministry of Finance
(b) Union Finance Commission
(c) Indian Banks’ Association
(d) None of the above
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Answer: (d) None of the above
UPSC 2010 · Q137 · Indian Economy › Banking & Financial Sector · Save
With reference to the institution of Banking Ombudsman in India, which one of the statements is not correct ?
(a) The Banking Ombudsman is appointed by the Reserve Bank of India
(b) The Banking Ombudsman can consider complaints from Non-Resident Indians having accounts in India
(c) The orders passed by the Banking Ombudsman are final and binding on the parties concerned
(d) The service provided by the Banking Ombudsman is free of any fee
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Answer: (c) The orders passed by the Banking Ombudsman are final and binding on the parties concerned
UPSC 2010 · Q142 · Indian Economy › Banking & Financial Sector · Save
Consider the following statements :
- Purchase and sale of shares and securities on behalf of customers.
- Acting as executors and trustees of wills.
The functions of commercial banks in India include
Which of the statements given above is/are correct ?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
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Answer: (c) Both 1 and 2