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Q:

In which year SBI was Nationalised ?

A) 1995 B) 1955
C) 1980 D) 1969

Answer:   B) 1955



Explanation:

The nationalisation of banks in India took place in 1969 by Mrs. Indira Gandhi the then prime minister. It nationalised 14 banks then. These banks were mostly owned by businessmen and even managed by them. Before the steps of nationalisation of Indian banks, only State Bank of India (SBI) was nationalised. It took place in July 1955 under the SBI Act of 1955.

 In_which_year_SBI_was_Nationalised1559024417.jpg image

Nationalisation of Seven State Banks of India (formed subsidiary) took place on 19th July, 1960.

 

1955 : Nationalisation of State Bank of India.
1969 : Nationalisation of 14 major banks.
1980 : Nationalisation of seven banks with deposits over 200 crores.

Q:

Headquarters of State Bank of India is in

A) Noida B) Mysore
C) Mumbai D) Hyderabad
 
Answer & Explanation Answer: C) Mumbai

Explanation:

State Bank of India (SBI) is the largest public sector banks in India. It was the first bank established in India as Bank of Calcutta in 1806 and then Imperial Bank of India and then it became State Bank of India on 1st July 1955. The Headquarters of State Bank of India is in Mumbai, Maharashtra.

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Q:

Which of the following terms is not used in banking sector?

A) Daily Product Basis B) Remittancel
C) Cash Reserve D) Actuary
 
Answer & Explanation Answer: D) Actuary

Explanation:

Actuary is the term which is not used in banking sector.

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1 122
Q:

Foreign Exchange Rates refer to the

Answer

A foreign exchange rate is the price of the domestic currency stated in terms of another currency.

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1 248
Q:

Financial statements are prepared from which trial balance?

A) Unadjusted trial balance B) Adjusted trial balance
C) Post- closing trial balance D) None of the above
 
Answer & Explanation Answer: B) Adjusted trial balance

Explanation:

Financial statements can be prepared from the Adjusted trial balance. A trial balance is a report containing list of all the general ledger accounts i.e, debits and credits contained in the ledger of a business. The types of trial balance include : Unadjusted trial balance, Adjusted trial balance and the Post- closing trial balance.

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0 194
Q:

Commercial banks are funded through which of the following?

A) Customer deposits B) Services
C) Stock holders D) Government funding
 
Answer & Explanation Answer: A) Customer deposits

Explanation:

A commercial bank is a financial body which performs the functions of accepting deposits from the general public and giving short term loans for investment with the aim of earning profit.

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0 200
Q:

Economists refer to purchases of stocks and bonds as investment.

A) TRUE B) FALSE
Answer & Explanation Answer: B) FALSE

Explanation:
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2 233
Q:

A budget is best described as

A) A master control device B) The most crucial component of a company evaluation process
C) A formal statement of a company's future plans usually expressed in monetary terms D) An informal statement of company future plans usually expressed in monetary terms
 
Answer & Explanation Answer: C) A formal statement of a company's future plans usually expressed in monetary terms

Explanation:

A Budget is a financial plan of expected cash inflows and outflows that a business generates.
It is generally a long-term statement involving ammual updates. It is best described as A formal statement of a company's future plans usually expressed in monetary terms.

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0 400
Q:

What is Repo Rate and Reverse Repo Rate?

Answer

Repo Rate is the rate at which the commercial banks borrows money from the central bank of a country i.e, RBI in India.


 


Reverse Repo Rate is the rate at which the central bank of a country, in case of India it is RBI borrows money from the commercial banks in the country.

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