Banking Principles and Functions Quiz

Public Sector Banks are owned by the government, while Private Sector Banks are owned by private individuals or corporations.

The principles of Banking include safety, liquidity, and profitability.

The traditional functions of a Central Bank include issuing currency, acting as banker to the government, and controlling credit.

<p>Bank failures can be caused by poor risk management, economic downturns, or fraud.</p> Signup and view all the answers

<p>Retail Banking focuses on individual customers and offers services like savings accounts, loans, and credit cards.</p> Signup and view all the answers

<p>The Rural Infrastructure Development Fund was established in the financial year ________.</p> Signup and view all the answers

<p>Corporate Banking deals with larger businesses and provides services like project financing, cash management, and trade finance.</p> Signup and view all the answers

<p>Time deposit.</p> Signup and view all the answers

<p>Retail banks serve the needs of _____________.</p> Signup and view all the answers

<p>In ____________ year, the Banking Ombudsman scheme was revised.</p> Signup and view all the answers

<p>Regional Rural Bank.</p> Signup and view all the answers

<p>Public sector bank.</p> Signup and view all the answers

<p>NABARD provides refinance facilities to institutions providing microfinance to farmers and rural artisans.</p> Signup and view all the answers

<p>Some challenges include high cost of funds, lack of awareness among borrowers, and operational sustainability.</p> Signup and view all the answers

<p>Financial inclusion promotes economic growth, reduces poverty, and enhances access to financial services for all.</p> Signup and view all the answers

<p>SIDBI provides financial assistance and refinancing to institutions engaged in microfinance activities.</p> Signup and view all the answers

<p>RBI has introduced initiatives like no-frills accounts, mobile banking, and financial literacy programs to promote financial inclusion.</p> Signup and view all the answers

<p>RBI and NABARD collaborate on various schemes like SHG-Bank Linkage Program to enhance financial inclusion in rural areas.</p> Signup and view all the answers

<p>Some features of Rural Banking include providing financial services in rural areas, promoting financial inclusion, and supporting agricultural and rural development.</p> Signup and view all the answers

<p>Rural Banking is important for promoting financial access in rural areas, supporting agriculture, and fostering economic development.</p> Signup and view all the answers

<p>The Banking Ombudsman has the power to resolve customer complaints against banks and ensure compliance with banking regulations.</p> Signup and view all the answers

<p>Universal Banking offers diversification of services, economies of scale, and enhanced customer convenience through a one-stop financial shop.</p> Signup and view all the answers

<p>Branchless Banking refers to providing banking services without physical branches, often using technology like mobile phones or agents.</p> Signup and view all the answers

<p>Merchant Banking services include capital raising, corporate advisory, mergers and acquisitions, and underwriting securities.</p> Signup and view all the answers