January 04, 2018

Banking Awareness for IBPS, SBI, RBI exams #19

Banking Awareness for IBPS P & Clerk, SBI PO & Clerk, RBI Grade B & Assistant and Insurance exams


  1. What is a company registered under the Companies Act 1956 and is engaged in the business of loans and advances, acquisition of shares and securities issued by government or local authority etc?
  2. IFCI, SFCs, SIDBI, Land Development Banks fall under what type of financial Institutions?
  3. In terms of which section of the RBI Act, 1934, it is mandatory that every Non Banking Financial Company (NBFC) should be registered with the Reserve Bank of India, to commence any business as a non-banking financial institution?
  4. What is the minimum net owned fund, a NBFC incorporated under the Companies Act, 1956, should have?
  5. Why are certain categories of NBFCs which are regulated by other regulators are exempted from the requirement of registration with RBI?
  6. With which regulator should the Capital Fund, Merchant Banking companies, Stock Broking companies registered?
  7. What type of deposits does NBFCs cannot accept?
  8. NBFCs are allowed to accept/renew deposits from public and institutions for a minimum period of 12 months and up to a maximum period of _____ only.
  9. What is the credit rating grade an NBFC must hold from an approved Credit Rating Agency?
  10. Deposits taken by which companies are not covered under the insurance coverage of either DICGC or RBI?
  11. What are the companies that are notified by Government of India as a Nidhi company under Section 620A of the Companies Act, 1956?
  12. What type of cheques does a NBFC cannot issue?
  13. Which facility of Deposit Insurance and Credit Guarantee Corporation is not available for NBFC depositors unlike in the case of banks?
  14. How are the NBFCs registered with RBI classified as?
  15. What are basically financial intermediaries whose principal activity is selling of securities?

Answers


  1. Non Banking Financial Company
  2. Non Banking Financial Institutions
  3. Section 45-IA
  4. Rs. 2 crore
  5. To avoid regulation
  6. SEBI
  7. Deposits that are repayable on demand
  8. 60 months
  9. Minimum Investment grade
  10. Non Banking Finance Companies
  11. Mutual Benefit Finance Companies
  12. Cheques drawn on itself
  13. Deposit Insurance facility
  14. Three types; Asset Finance company, Investment Company, Loan Company
  15. Investment companies
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