1. Which is a financial institution established for growth of tourism industry in India: TFCI.

      Explanation: To cater the financing requirements of the Tourism Industry, the Government of India set up the Tourism Finance Corporation of India Ltd. (TFCI).

 

  1. Which committees recommended amalgamation of Regional Rural Banks: Khusrau Committee.

      Explanation: Khusrau Committee (aka Agricultural Credit Review Committee) said that the RRBs have no justifiable cause for continuance and recommended their mergers with sponsor banks.

 

  1. Which is the first ISO-9002 certified urban cooperative bank with facilities of electronic funds transfer: Sindhanur Urban Souharda Cooperative Bank.

      Explanation: Sindhanur Urban Souharda Cooperative Bank , popularly known as SUCO BANK, is the first ISO-9002 certified urban cooperative bank with facilities of electronic funds transfer.

 

  1. The headquarters of local boards of RBI are located at: Mumbai, Kolkata, Chennai and New Delhi.

      Explanation: The headquarters of local boards of RBI are in Mumbai, Kolkata, Chennai and New Delhi. The members of the local boards of RBI are appointed by the Central Government for a term of four years.

 

  1. Which term is used to denote broad money: M3.

      Explanation: Narrow Money M1 = Currency with the public + Demand Deposits of public in Banks When a third component viz. Post office Savings Deposits is also added to M1, it becomes M2. M2 = M1 + Post Office Savings. Broad Money M3 = Narrow money + Time Deposits of public with banks.

 

  1. Which is a qualitative tool of monetary policy: Credit Rationing.

      Explanation: The quantitative instruments are Open Market Operations, Liquidity Adjustment Facility (Repo and Reverse Repo), Marginal Standing Facility, SLR, CRR, Bank Rate, Credit Ceiling etc.

 

  1. Which bank has recently launched a new home loan product “Women Power” with a differential rate of interest exclusively for women customers: HDFC Bank.

      Explanation: Housing Development Finance Corporation Ltd (HDFC Ltd), has launched a Home Loan product “Women Power” with a differential rate of interest exclusively for women customers.

 

  1. Each country in the BRICS development bank has equal equity. What is the amount of this equity: 10 Billion USD.

      Explanation: Bricks Development Bank was launched on Jul 15, 2014 by BRICS countries, at Fortaleza (Brazil) Summit. Each member has an equal equity of USD 10 Billion in this bank. Shanghai will be its headquarters.