Types of Banks in India Quiz
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Questions and Answers

What is the main function of a commercial bank?

  • Granting easy credit to the farmers
  • Issuing currency in the country
  • Accepting deposits from the public and giving short-period loans (correct)
  • Running on a cooperative basis

    • According to the Indian Banking Regulation Act, 1949, how does it define the activity of a bank?

  • Issuing currency in the country
  • Running on a cooperative basis
  • Granting easy credit to the farmers
  • Accepting deposits of money from the public and lending to households, firms, and government (correct)

    • What is the role of a central bank in a country's banking and financial structure?

  • Accepting deposits from the public and giving short-period loans
  • Controlling and regulating the banking and financial structure of the country (correct)
  • Granting easy credit to the farmers
  • Running on a cooperative basis

    • What is the primary purpose of cooperative banks?

    <p>Accepting deposits from the public and giving short-period loans</p> Signup and view all the answers

    Which type of bank creates deposit money and credit money through its operations?

    <p>Commercial bank</p> Signup and view all the answers

    What distinguishes a central bank from other types of banks?

    <p>Issuing currency in the country and controlling/regulating the banking system</p> Signup and view all the answers

    What is the primary function of a commercial bank?

    <p>Accept deposits from the public</p> Signup and view all the answers

    Which type of deposit is known as demand deposit?

    <p>Current account deposits</p> Signup and view all the answers

    What is the purpose of Exim banks?

    <p>To provide long term financial help to exporters and importers</p> Signup and view all the answers

    What is the main function of land development banks?

    <p>Provide long term credit to farmers for land improvement</p> Signup and view all the answers

    Who are the primary holders of current account deposits?

    <p>Traders and businessmen</p> Signup and view all the answers

    Which type of deposit supports international trade and business transactions?

    <p>Current account deposits</p> Signup and view all the answers

    What is the purpose of regional rural banks?

    <p>Meet the needs of the weaker sections of the rural population</p> Signup and view all the answers

    What do saving account deposits support in the Indian economy?

    <p>Convenience in financial operations</p> Signup and view all the answers

    What is the role of exchange rate in the context of foreign trade?

    <p>To facilitate foreign trade transactions</p> Signup and view all the answers

    What is the main source of resources for a commercial bank?

    <p>Deposits from the public</p> Signup and view all the answers

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