Banking and Insurance Quiz

1.The largest Bank in the world in the matter of number of branch offices is

Banks of America NT & SA State Bank of India Barclays Bank Citi Bank

2."Hot Money" means

Money earned through illegal transactions money earned through speculative transaction money used to hoard scarce commodities Short-term capital movements from one country to another seeking safety or, less often, higher rate of interest

3."Free zone" or "free trade zone" denotes

an area where there are no restrictions of any kind on trading activities an area where there is free from any kind of taxes an area near a seaport or airport in which goods can be imported duty-free, if they are to be re-exported or used in the manufacture of goods for export manufacture of goods for export

4.Every bank wishing to commence banking business in India is required to obtain a license from

Government if India, Ministry of Finance Government of India, Company Law Board Reserve Bank of India 

Registrar of Companies

5.Financial literacy is a serious issue for RBI because

It would enable better understanding of banking business 

With better understanding more and more people would utilise the banking services 

It would mean banks can do more business 

It would mean the maximum number of people