Tag: organisation of commerce and management

Questions Related to organisation of commerce and management

The Industrial Finance Corporation of India was set up in _____.

organisation of commerce and management specialised financial institutions institutional sources long term sources of finance sources of business finance - 2

  1. 1948

  2. 1964

  3. 1985

  4. 1990

Show answer
Correct Option: A
Explanation:

The IFCI was the first development bank owned by government of India post independence. The main focus  was to cater to the long term financial needs of the industrial sector. 

Indira Gandhi Institute of Development Research was set up by the _________.

organisation of commerce and management specialised financial institutions institutional sources long term sources of finance sources of business finance - 2

  1. RBI

  2. NABARD

  3. IBRD

  4. SBI

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Correct Option: A
Explanation:

Indira Gandhi Institute of Development Research is located in Mumbai. It was established by RBI in 1987 on the occasion of its golden jubilee . It is an advanced research institution.

The bankers training college is located at _________.

organisation of commerce and management specialised financial institutions institutional sources long term sources of finance sources of business finance - 2

  1. Mumbai

  2. Chennai

  3. Pune

  4. New Delhi

Show answer
Correct Option: A
Explanation:

The Bankers Training college was set up by RBI to provide better banking and economic knowledge to aspiring bankers. It is located in Mumbai.

The Apex institution with regard to rural credit is __________.

organisation of commerce and management specialised financial institutions institutional sources long term sources of finance sources of business finance - 2

  1. Agricultural Refinance and Development Corporation

  2. Regional Rural Banks

  3. Reserve Bank of India

  4. NABARD

Show answer
Correct Option: D
Explanation:

NABARD is an apex development financial institution of India. It was established in 1982 with regards to policy, planning and operations in the field of credit for agriculture and other economic activities in rural parts of India.

NABARD stands for ____________.

organisation of commerce and management specialised financial institutions institutional sources long term sources of finance sources of business finance - 2

  1. National Bank for Agricultural and Refinance Development

  2. National Bank for Agricultural and Rural Development

  3. National Board of Agriculture and Rural Development

  4. National Bureau for Agriculture and Rural Development

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Correct Option: B
Explanation:

National Bank of Agricultural and Rural Development was established in 1982 and has been entrusted with planning, policy and operations in the field of credit for agriculture and other economic activities in rural areas of India.

The Reserve Bank of India was nationalised on __________.

organisation of commerce and management specialised financial institutions institutional sources long term sources of finance sources of business finance - 2

  1. January 1, 1947

  2. January 1, 1949

  3. January 1, 1951

  4. January 1, 1955

Show answer
Correct Option: B
Explanation:

The Reserve Bank of India was nationalized on the basis of Reserve Bank of India (Transfer to public ownership)act, 1948. After the nationalization, all shares in the capital of the bank was deemed transferred to the central government on payment of suitable compensation.

The RBI set up an Industrial Credit Department in ______.

organisation of commerce and management specialised financial institutions institutional sources long term sources of finance sources of business finance - 2

  1. 1935

  2. 1942

  3. 1947

  4. 1957

Show answer
Correct Option: D
Explanation:

Industrial Credit Department was set up to administer the Credit Guarantee Scheme for small scale industries. This step was taken by RBI to promote industrial Finance.

Indira Gandhi Institute of Development Research was setup in the year ______.

organisation of commerce and management specialised financial institutions institutional sources long term sources of finance sources of business finance - 2

  1. 1985

  2. 1987

  3. 1990

  4. 1995

Show answer
Correct Option: B
Explanation:

Indira Gandhi Institute of Development Research is located in Mumbai and was established by RBI. The reason for establishing this institution is to research on developmental issues. It also contains one of the largest social sciences library in Asia.

The college of agricultural banking is located at ___________.

organisation of commerce and management specialised financial institutions institutional sources long term sources of finance sources of business finance - 2

  1. Chennai

  2. Pune

  3. New Delhi

  4. Mumbai

Show answer
Correct Option: B
Explanation:

The College of Agricultural Banking was set up by RBI  in the Pune city of Maharashtra to educate rural people regarding agricultural banking and other related fields.

Banking Ombudsman Scheme was announced in ______.

organisation of commerce and management specialised financial institutions institutional sources long term sources of finance sources of business finance - 2

  1. 1947

  2. 1950

  3. 1995

  4. 1965

Show answer
Correct Option: C
Explanation:

The banking ombudsman scheme was introduced by RBI under section 35 A of the Banking Regulation Act, 1949 with effect from 1995. Under this scheme, a banking ombudsman who is a senior official is appointed. He/she handles and redresses the customer complaints against deficiency in certain banking services.