Money and Banking (Part 1) One Liner Questions & Answers
| Sr.no. | Questions | Answers |
| 1 | What was the purpose of Inter-Creditor Agreement signed by Indian banks and financial institutions recently? | To aim at faster resolution of stressed assets of Rs. 50 crore or more which are-under consortium lending |
| 2 | Which committee has been constituted by the Government of India to boost cashless transactions? | Neeraj Kumar Gupta Committee |
| 3 | Which is the most likely consequence of implementing the ‘Unified Payments Interface (UPI)’? | Mobile wallets will not be necessary for online payments |
| 4 | What is the money multiplier of India? | Broad Money Reserve Money |
| 5 | What is black money? | It is an illegal income upon which income tax is not paid |
| 6 | Which effects of creation of black money in India has been the main cause of worry to the Government of India? | Loss of revenue to the State Exchequer due to tax evasion |
| 7 | Paper currency was first started in India in – | 1862 |
| 8 | When did the ‘Naya paisa’ introduced with the decimal system of coinage become, paisa? | June 1, 1964 |
| 9 | In India, the decimal coinage system was introduced in the year – | April 1, 1957 |
| 10 | In India ‘Currency Notes issue system’ is based on – | Minimum reserve system |
| 11 | Who is authorized to issue coins in India? | Ministry of Finance |
| 12 | Where do coins are minted in India? | Mumbai, Noida, Kolkata, and Hyderabad |
| 13 | Mumbai, Noida, Kolkata, and Hyderabad – | Higher prices |
| 14 | Due to inflation – | Prices of goods increase & The value of money falls |
| 15 | A zero rate of inflation obtains necessarily in a year where the annual rate of inflation – | Both falling and rising in a year |
| 16 | A rapid increase in the rate of inflation is sometimes attributed to the ‘base effect’. What is ‘base effect’? |
It is the impact of the price levels of previous year on the calculation of inflation rate
|
| 17 | Core inflation is defined as – | Headline inflation excluding both food inflation and fuel inflation. |
| 18 | The most common measure of estimating inflation in India is – | Consumer Price Index(CPI) |
| 19 | Headline inflation refers to the change in value of all goods on the basket. On which basis is the headline inflation measured? | Consumer Price Index-Combined (CPI-C) |
| 20 | Which brings out the ‘Consumer Price Index Number for Industrial Workers’? | The Labour Bureau |
| 21 | Which price index is used to compensate the wages of Central Government employees? | Consumer Price Index for Industrial Workers(CPI – IW) |
| 22 | The basis of determining dearness allowances to employees of India is – | Consumer Price Index |
| 23 | Which Institution/Office bring out the Wholesale Price Index (WPI) data in India? | The Ministry of Commerce and Industry |
| 24 | Producer Price Index measures – | The average change in the prices of produced goods and services |
| 25 | In India, the first Bank of Limited Liability managed by Indians and founded in 1881 was – | Oudh Commercial Bank or Awadh Commercial Bank |
| 26 | The Government of India has nationalized 14 banks of the country in – | 19 July 1969 |
| 27 | When was the State Bank of India established? | 1 July 1955 |
| 28 | The largest public sector commercial bank of India is the – | State Bank of India(SBI) |
| 29 | Which commercial banks of India comes in top 100 global banks? | State Bank of India(SBI) |
| 30 | The Chairman of public sector banks are selected by the – | Banks Board Bureau |
| 31 | Which bank became the first bank to open its branch in China? | State Bank of India |
| 32 | Which Private Bank for the first time set up its branch in China? | Axis Bank |
| 33 | Which Indian commercial bank started the first ever moving ATM Services? | ICICI |