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General Awareness - Banking System & Capital Market short Questions & Answers for Examinations | Page-6

51 EXIM Bank was set-up in:
A 1980
B 1982
C 1984
D 1986

Answer: Option [B]
52 Which of the following best defines the term ‘Letter of Credit’ as used frequently in bank transactions ?
A An order from a bank to another bank abroad authorizing the payment of a particular amount to a person named in the letter
B An unconditional undertaking given by a bank ensuing the payment of a particular amount to the drawee at a given date
C Letter by a bank to a person starting the terms and conditions of the loan sanctioned to him by the bank
D Statement showing outstanding deposits and credits of a bank for a particular period

Answer: Option [A]
53 The Imperial Bank of India, in 1955 after nationalization was given the name of:
A Indian Overseas Bank
B Reserve Bank of India
C State Bank of India
D Bank of India

Answer: Option [C]
54 Regional Rural Banks:
I. Have limited area of operation
II. Have free access to liberal refinance facilities from NABARD
III. Are required to lend only to weaker sections
A I and III
B II and III
C I, II and III
D Only II

Answer: Option [C]
55 The liabilities of a commercial bank are:
I. Time deposits
II. Security holdings
III. Demand deposits
IV. Advances from the central bank
A I, II and III
B I, III and IV
C II and IV
D I and III

Answer: Option [B]


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