Biometric Systems Quiz

Questions and Answers

What is the primary function of financial institutions?

To buy, sell, or hold financial assets (correct)

To regulate government policies

To create new currencies

To represent the interests of borrowers only

Which of the following statements best describes the relationship between the financial sector and the real sector of the economy?

The real sector is crucial only for investment, not for savings.

The financial sector only serves the needs of the government.

The real sector functions independently of the financial sector.

If the financial sector does not function, the real sector will also struggle. (correct)

Which factor contributes to the efficiency of a financial system?

The level of taxation imposed on savings

The number of private corporations only

The size of the government budget

The width, depth, and diversity of the financial system (correct)

What are the three main constituents of the financial system?

Financial Institutions, Financial Markets, and Financial Assets Signup and view all the answers

How do well-developed financial systems impact economic growth?

They contribute to faster and more consistent growth. Signup and view all the answers

What is the role of financial markets in the financial system?

To facilitate the buying and selling of financial assets Signup and view all the answers

Which characteristic is NOT typically associated with financial institutions?

Operating solely for government interests Signup and view all the answers

Which type of ownership can financial institutions have?

Either public or private ownership Signup and view all the answers

What is the primary role of the Reserve Bank of India (RBI)?

Main regulator of credit in the financial system Signup and view all the answers

Which banks are considered the predominant segment of the banking system in India?

Commercial banks Signup and view all the answers

Which institution is specifically established to cater to agricultural financing in India?

National Bank of Agriculture and Rural Development (NABARD) Signup and view all the answers

What characterizes the banking business concentration in India?

Excessive concentration in a few scheduled public sector banks Signup and view all the answers

Which of the following does not undertake lending activities?

Government-owned post offices Signup and view all the answers

Which financial institutions are primarily involved in medium and long-term financial assistance to the corporate sector?

Term-lending institutions like IDBI, ICICI, and IFCL Signup and view all the answers

What is the primary function of NBFIs within the financial system?

Mobilizing resources and providing financial services Signup and view all the answers

What has contributed to the concentration of banking business in India?

Mergers and consolidation of banks Signup and view all the answers

What was one significant change in banking that occurred during the phase of Banking Consolidation (1951-1964)?

Decline in the number of banks from 566 to 292 Signup and view all the answers

What was the primary objective of the Banking Regulation Act of 1949?

To eliminate the small, nonviable banking units Signup and view all the answers

Which bank was transformed into the State Bank of India in 1955?

Imperial Bank Signup and view all the answers

What characterized the commercial banks during the period leading up to 1951?

Rigidity and conservatism Signup and view all the answers

During the phase of Innovative Banking (1964-1990), what was a primary goal changes in the banking sector?

Integrate banking with economic planning Signup and view all the answers

How did the banking landscape change from 1951 to 1966 in India?

Reduction from 566 banks to 108 banks Signup and view all the answers

What was one of the outcomes of having a limited geographical coverage in banking before 1951?

Challenges in accessing banking services in rural areas Signup and view all the answers

Which phase of Indian banking began in the early nineties focusing on prudential measures?

Phase of Prudential Banking Signup and view all the answers

What role were commercial banks assigned in the structural reorientation?

Instruments of development Signup and view all the answers

What was the main focus of the Narsimham Committee I formed in 1991?

Transforming Indian banking systems Signup and view all the answers

What significant change occurred in the Indian banking system post-1991?

Shift to a phase of prudential banking Signup and view all the answers

What negative trend was observed in the Indian banking system during the post-nationalization era?

Decline in productivity and efficiency Signup and view all the answers

During which era did serious deficiencies in the Indian banking system emerge?

Post-nationalization Signup and view all the answers

What was one of the implications of the decline in profitability of the banking system?

Threat to the system's viability Signup and view all the answers

What achievement was notable in the Indian banking system prior to the 1991 reforms?

Expansion in reaching social goals Signup and view all the answers

What organizational structure change was suggested by the Tandon and Chore Committees?

Regulation and rationing of bank credit Signup and view all the answers

What should you do after placing your biometric card near the machine?

Keep your enrolled finger on the sensor. Signup and view all the answers

What indicates that the attendance process is complete?

The sensor displays 'ATTENDANCE ACCEPTED'. Signup and view all the answers

How can you access the attendance application from your workstation?

By clicking the 'attendance' hyperlink on the Intranet webpage. Signup and view all the answers

What is the purpose of the biometric sensor during the attendance process?

To verify user identity and log attendance. Signup and view all the answers

What does the blinking light on the biometric sensor signify?

The sensor is ready for another fingerprint. Signup and view all the answers

What should you do if your attendance is not accepted after following the process?

Check if your finger is properly enrolled. Signup and view all the answers

Which URL can you use to directly access the Intranet page for attendance?

reports.jkb.com Signup and view all the answers

What action must you ensure to complete after your finger is on the biometric sensor?

Hold your finger on until the sensor instructs you otherwise. Signup and view all the answers

Study Notes

Attendance Process

Use biometric fingerprint or card to register attendance at designated machines.
Wait for the biometric sensor light to blink; place enrolled finger on the sensor briefly.
Attendance is confirmed when the sensor displays a name and "ATTENDANCE ACCEPTED."
Access attendance records through the company's intranet at reports.jkb.com, using the attendance hyperlink.

Banking System in India

The Reserve Bank of India (RBI) is the main regulator and apex institution of the financial system.
India’s banking structure includes commercial banks, cooperative banks, and non-banking financial institutions (NBFIs).
Commercial banks, which include private and foreign banks, dominate the banking landscape.
Cooperative banks serve primarily rural areas but also exist in urban settings.
Institutions like NABARD, IDBI, Exim Bank, and NHB focus on specific banking sectors.

Structure and Composition

The banking system consists of 12 public sector banks and 21 private sector banks, excluding Regional Rural Banks (RRBs).
Concentration in banking results from mergers and government ownership policies.
A robust financial system supports economic growth, facilitating borrowing, savings, and payment mechanisms.

Constituents of the Financial System

The financial system comprises:
- Financial Institutions: Businesses engaged in financial asset transactions.
- Financial Markets: Platforms for trading financial assets.
- Financial Assets: Instruments representing financial value.

Phases of Indian Banking Evolution

Consolidation Phase (1951-1964):
- Banking system weaknesses post-independence addressed through the Banking Regulation Act.
- Number of banks reduced from 566 in 1951 to 292 by 1961, and to 108 by March 1966.
- Nationalization of Imperial Bank of India into State Bank of India occurred in 1955.
Innovative Phase (1964-1990):
- The banking system diversified and expanded geographically to meet economic needs.
- Initiatives taken to regulate bank credit for large industries based on recommendations from Tandon and Chore Committees.
Prudential Phase (Post-1991):
- Transition to a prudential banking model amid a liberalized economy.
- Narsimham Committee I's proposals initiated reforms targeting system deficiencies.
- Despite social banking successes, significant weaknesses emerged regarding productivity and profitability.

Challenges & Developments

The banking sector faced declining productivity, resulting in reduced profitability to 1.1% of working funds.
Continuous evolution of the Indian banking system shows adaptation to developmental goals and market demands.

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Description

Test your knowledge on biometric systems and fingerprint identification. This quiz will cover various aspects of biometrics, including technology, applications, and security implications. Prepare to explore the fascinating world of biometric authentication!