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Banking Services and Functions Quiz

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Questions and Answers

Which type of bank in India is responsible for regulating and controlling the monetary and banking system in the country?

Public Sector Banks

Central Bank (correct)

Regional Rural Banks

Foreign Banks

What are the main services provided by commercial banks in India, as mentioned in the text?

Various services like savings and current accounts, loans, and investments (correct)

Online and mobile banking services

Investment products like mutual funds, stocks, and bonds

Safekeeping of valuable items and documents

Which bank in India caters to rural and semi-urban areas and is owned by the government, commercial banks, and state governments?

Public Sector Banks

Foreign Banks

Private Sector Banks

Regional Rural Banks (correct)

Which type of bank in India is privately owned and managed, such as HDFC Bank, ICICI Bank, and Axis Bank?

Private Sector Banks Signup and view all the answers

What is the main responsibility of the Reserve Bank of India (RBI) in the Indian banking system?

Regulating and controlling the monetary and banking system Signup and view all the answers

What is the main role of banking in the economy?

Facilitating the flow of money and enabling economic activities Signup and view all the answers

What are the main functions of banks in India?

Facilitating transactions and providing investment services Signup and view all the answers

What is the primary function of banks in India?

Lending money to individuals and businesses for various purposes Signup and view all the answers

What is the purpose of accepting deposits by banks?

To provide a safe place for individuals and businesses to deposit their money Signup and view all the answers

What do banks in India primarily enable through various payment methods like checks, debit/credit cards, and electronic transfers?

Transactions and payments Signup and view all the answers