Current Affairs

1.Who among the following has won the 2016 Laureus Sportsman of the Year Award?
Ans-Novak Djokovic
2.Who among the following has won the 2016 Laureus Sportswoman of the Year Award?
Ans-Serena Williams
3.Which former cricketer was appointed as the chief selector of Pakistan Cricket team by Pakistan Cricket Board (PCB) on 18 April 2016?
Ans--Inzamam-ul-Haq
4.Who won the Monte Carlo Tennis title 2016?
Ans--Rafael Nadal
5.Which country recently test-fired 'Iskander' Tactical Ballistic Missile?
Ans--Russia
6.Which organization in April 2016 formed an alliance with the World Bank to make Early Childhood Development (ECD) programme a global policy?
Ans--UNICEF
7.Who among the following was crowned Miss India World 2016?
Ans--Priyadarshini Chatterjee
8.Which Latin American country was hit by a 7.8 intensity earthquake on 16 April 2016?
Ans--Ecuador
9.Which country recently overtook France to become the world's leading wine producer?
Ans--Italy
10.Union Government on 18 April 2016 released the Commemorative Coin and Circulation Coin to mark the Martyrdom Day of which historical personality?
Ans--Tatya Tope

Cheques and Types

Good Morning Readers,

Today we are starting the day with one of the most important topics of general awareness where 1-2 questions can be expected related to cheques.

Cheque

It is an instrument in writing containing an unconditional order, addressed to a banker, sign by the person who has deposited money with the banker, requiring him to pay on demand a certain sum of money only to or to the order of certain person or to the bearer of instrument."

Types of Cheque

1. Bearer Cheque or open Cheque

When the words "or bearer" appearing on the face of the cheque are not cancelled, the cheque is called a bearer cheque. The bearer cheque is payable to the person specified therein or to any other else who presents it to the bank for payment. However, such cheques are risky, this is because if such cheques are lost, the finder of the cheque can collect payment from the bank.

2. Order Cheque

When the word "bearer" appearing on the face of a cheque is cancelled and when in its place the word "or order" is written on the face of the cheque, the cheque is called an order cheque. Such a cheque is payable to the person specified therein as the payee, or to any one else to whom it is endorsed (transferred).

3. Crossed Cheque

Crossing of cheque means drawing two parallel lines on the face of the cheque with or without additional words like "& CO." or "Account Payee" or "Not Negotiable". A crossed cheque cannot be encashed at the cash counter of a bank but it can only be credited to the payee's account.

4. Ante-Dated Cheque

If a cheque bears a date earlier than the date on which it is presented to the bank, it is called as "anti-dated cheque". Such a cheque is valid upto three months from the date of the cheque.

5. Post-Dated Cheque

If a cheque bears a date which is yet to come (future date) then it is known as post-dated cheque. A post dated cheque cannot be honoured earlier than the date on the cheque.

6. Stale Cheque

If a cheque is presented for payment after 3 months from the date of the cheque it is called stale cheque. A stale cheque is not honoured by the bank.

7. A self cheque

A self cheque is written by the account holder as pay self to receive the money in the physical form from the branch where he holds his account.

Money Market

Dear Readers,

Today we are providing you the important brief of Money Market, as this is always asked in the General awareness section in all banking exams.

We hope that this will help you scoring well in your exams.

"Money Market" refers to the market for short-term requirement and deployment of funds. Money market instruments are those instruments, which have a maturity period of less than one year.

The most active part of the money market is the market for overnight call and term money between banks and institutions and repo transactions. Money Market is regulated by RBI.

Money Market can be further divided into 3 parts. These are:

a)       Call Money Market

b)       Term Money Market

c)       Notice Money Market

The market to get funds for 1 day only is called as Call Money Market. The market to get funds for 2 days to 14 days is called as Notice Money Market. The market to get funds for 15 days to 1 year is called as Term Money Market.

Some of the Money Market instruments are:

1) Commercial Paper

2) Certificate of Deposit

3) T-bills

4) Cash Management Bills

Commercial Papers-

a) A CP is a short term security (7 days to 365 days) issued by a corporate entity (other than a bank), at a discount to the face value.

b) Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note.

c) CPs normally give a higher return than fixed deposits & CDs.

d) CP can be issued in denominations of Rs. 5 lakh or multiples thereof. Amount invested by a single investor should not be less than Rs. 5 lakh (face value).

e) Only corporates who get an investment grade rating can issue CPs, as per RBI rules. It is issued at a discount to face value.

f) Bank and FI’s are prohibited from issuance and underwriting of CP’s.

Certificates of Deposit     

a) CDs are negotiable money market instrument issued in demat form or as a Usance Promissory Notes.

b) CDs issued by banks should not have the maturity less than seven days and not more than one year.

c) Financial Institutions are allowed to issue CDs for a period between 1 year and up to 3 years.

d) CDs are like bank term deposits but unlike traditional time deposits these are freely negotiable and are often referred to as Negotiable Certificates of Deposit.

e) CDs normally give a higher return than Bank term deposit.

f) All scheduled banks (except RRBs and Co-operative banks) are eligible to issue CDs.

g) CDs are issued in denominations of Rs. 1 Lac and in the multiples of Rs. 1 Lac thereafter.

h) Discount/Coupon rate of CD is determined by the issuing bank/FI.

i) Loans cannot be granted against CDs and Banks/FIs cannot buy back their own CDs before maturity

Treasury bills

a) Treasury Bills are short term (up to one year) borrowing instruments of the Government of India which enable investors to park their short term surplus funds while reducing their market risk.

b) They are auctioned by Reserve Bank of India at regular intervals and issued at a discount to face value.

c) Any person in India including Individuals, Firms, Companies, Corporate bodies, Trusts and Institutions can purchase Treasury Bills.

d) Treasury Bills are eligible securities for SLR purposes.

e) Treasury Bills are available for a minimum amount of Rs. 25,000 and in multiples of Rs. 25,000 thereafter.

f) At present, RBI issues T-Bills for three different maturities: 91 days, 182 days and 364 days.

Cash Management Bills (CMBs)

a) Government of India, in consultation with the Reserve Bank of India, has decided to issue a new short-term instrument, known as Cash Management Bills (CMBs), to meet the temporary mismatches in the cash flow of the Government.

b) The CMBs have the generic character of T-bills but are issued for maturities less than 91 days.

c) Like T-bills, they are also issued at a discount and redeemed at face value at maturity.

d) The tenure, notified amount and date of issue of the CMBs depends upon the temporary cash requirement of the Government.

FINANCIAL INCLUSION

It is the delivery of financial services at affordable costs to vast sections of disadvantaged and low income groups

Financial inclusion involves

1) Give formal banking services to poor people in urban & rural areas.

2) Promote habit of money-savings, insurance, pension-investment among poor-people.

3) Help them get loans at reasonable rates from normal banks. So they don’t become victims in the hands of local moneylender.

Some Important initiatives for financial inclusion:

1) Lead banking scheme (LBS).

2) No frills account.

3) BSBDA

4) Business Correspondents (BC) system.

5) Swabhiman Campaign

6) PMJDY

Lead Bank Scheme

The Lead Bank Scheme, introduced towards the end of 1969, envisages assignment of lead roles to individual banks (both in public sector and private sector) for the districts allotted to them. A bank having a relatively large network of branches in the rural areas of a given district and endowed with adequate financial and manpower resources has generally been entrusted with the lead responsibility for that district. Accordingly, all the districts in the country have been allotted to various banks. The lead bank acts as a leader for coordinating the efforts of all credit institutions in the allotted districts to increase the flow of credit to agriculture, small-scale industries and other economic activities included in the priority sector in the rural and semi-urban areas, with the district being the basic unit in terms of geographical area.

No Frill Account

'No Frills 'account is a basic banking account. Such account requires either nil minimum balance or very low minimum balance. Charges applicable to such accounts are low. Services available to such account is limited. In what can be described as a watershed Annual Policy Statement, the RBI in 2005-06 called upon Indian banks to design a ‘no frills account’ – a no precondition, low ‘minimum balance maintenance’ account with simplified KYC (Know Your Customer) norms. But All the existing ‘No-frills’ accounts opened were converted into BSBDA in compliance with the guidelines issued by RBI in 2012 .

BSBDA

RBI in 2012 came out with fresh guidelines and asked banks to offer a ‘Basic Savings Bank Deposit Account’ which will offer following minimum common facilities to all their customers. These guidelines includes:-

(a) This account shall not have the requirement of any minimum balance.

(b) The services available in the account will include deposit and withdrawal of cash at bank branch as well as ATMs; receipt/credit of money through electronic payment channels or by means of deposit/collection of cheques drawn by Central/State Government agencies and departments;

(c ) While there will be no limit on the number of deposits that can be made in a month, account holders will be allowed a maximum of four withdrawals in a month, including ATM withdrawals; and

(d) Facility of ATM card or ATM-cum-Debit Card.

Business Correspondent

Business correspondents are bank representatives. They personally goes to the area allotted to them and carry out banking.

• They help villagers to open bank accounts.
• They help villagers in banking transactions. (deposit money, take money out of savings account, loans etc.)
• The Business Correspondent carries a mobile device.
• The villager gives his thumb impression or electronic signature, and get the money.
• Business Correspondents get commission from bank for every new account opened, every transaction made via them, every loan-application processed etc.

Recently on Financial Inclusion

The Reserve Bank of India (RBI) has constituted a committee with the objective of working out a medium-term (five-year) measurable action plan for financial inclusion. The terms of reference will include reviewing the existing policy of financial inclusion, including supportive payment system and customer protection framework, taking into account the recommendations made by various committees set up earlier.

It will also study the cross-country experience in financial inclusion to identify key learnings, particularly in the area of technology-based delivery models, that could inform policies and practices. The committee will also suggest a monitorable medium-term plan for financial inclusion in terms of its various components like payments, deposit, credit, social security transfers, pension and insurance.

Deepak Mohanty, RBI executive director, will chair the committee. 

Quant Quiz For Banking Exam , SBI Exam and NABARD Exam

1.  If the price of diesel is increased by 30%, by what percentage should the consumption be decreased by the consumer, if the expenditure on diesel remains unchanged?

16(2/3)%

6(2/3)%

15%

18%

None of these

2. If Amit’s income is 5/6th of Brijesh’s income, then Brijesh’s income is more than Amit’s income by 

10%

15%

20%

25%

30%

3. A lady losses 20% of her money. After spending 50% of the remainder, she has Rs. 480 left. What is the amount of money she originally had?

Rs. 700

Rs. 820

Rs. 1200

Rs. 1240

None of these

4. A student scores 20% and fails by 50 marks in Maths exam, while another one who scores 40% marks, gets 50 marks more than the minimum required marks to pass Maths exam. Find the maximum marks for the Maths exam. 

500

450

400

350

300

5. A mechanic was asked to measure the length and breadth of a car’s bonnet. By mistake, he measured the length 10% more and the breadth 20% less. If the bonnet’s original area is 200 sq cm, then find the area after this measurement?

172 sq cm

173 sq cm

174 sq cm

175 sq cm

176 sq cm

6. Last year, there were 610 men in a factory. The number decreased by 20% this year. How many women are there in the factory, if the number of women is 200% of the total number of men in the factory this year?

878

848

948

967

None of the above

7. 1 L of water is added to 5 L of spirit and water solution containing 40% spirit strength. The strength of spirit in the new solution will be

32%

33(1/3)%

33(2/3)%

34%

35%

8. In an entrance test, Raj got 112 marks which was 32 more than the passing marks. Somesh got 75% marks which was 70 more than the passing marks. What is the minimum passing percentage of the entrance test?

35%

38%

40%

45%

50%

9. Ramu sells his goods 25% cheaper than Shivraj and 25% dearer than Harish. How much percentage is Harish’s goods cheaper than Shivraj?

25

35

40

50

55

10. Fresh grapes contain 80% water, while dry grapes contain 10% water. If the weight of dry grapes is 600 kg, then what is its total weight when it is fresh?

2400 kg

2500 kg

2600 kg

2700 kg

None of the above

A Brief on Foreign Exchange Reserves

Dear Readers, 

Today we are providing you the notes on one of the most important financial terms FOREIGN EXCHANGE RESERVES. This is important as it can be asked in the General Awareness section in the upcoming exams.

As it was in the news that,  our country's foreign exchange reserves rose by $321.7 million to $353.648 billion in the week to July 24 on account of increase in foreign currency assets. The country's gold reserves remained unchanged at $19.074 billion. The special drawing rights with the International Monetary Fund were up by $5.8 million to $4.024 billion in the week under review, while the country's reserve position with the Fund also rose by $1.8 million to $1.304 billion.

Components of Forex	As on July 24, 2015
	₹ Bn.	US$ Mn.
	1	2
Total Reserves	22,551.8	353,648.1
1.1 Foreign Currency Assets	20,995.3	329,245.4
1.2 Gold	1,216.1	19,074.3
1.3 SDRs	257.1	4,024.2
1.4 Reserve Position in the IMF	83.3	1,304.3

Lets discuss What actually is FOREX?

Reserves are maintained by countries for meeting their international payment obligations — both short and long terms, including sovereign and commercial debts, financing of imports, for intervention in the foreign currency markets during periods of volatility, besides helping to boost the confidence of the market in the ability of a country to meet its external obligations and to absorb any unforseen external shocks, contingencies or unexpected capital movements.

India's foreign exchange reserves comprise foreign currency assets, gold and special drawing rights allocated to it by the International Monetary Fund (IMF) in addition to the reserves it has parked with the fund. Foreign exchange reserves are held and managed by the RBI.

The Foreign currency assets are investment mainly in instruments abroad which have the highest credit rating and which do not pose any credit risk. These include sovereign bonds, treasury bills and short-term deposits in top-rated global banks besides cash accounts.

The Special Drawing Right (SDR) is an interest-bearing international reserve asset created by the IMF in 1969 to supplement other reserve assets of member countries. The SDR is based on a basket of international currencies comprising the U.S. dollar, Japanese yen, euro and pound sterling. It is not a currency, nor a claim on the IMF, but is potentially a claim on freely usable currencies of IMF members. It can be held and used by member countries, the IMF, and certain designated official entities called "prescribed holders"—but it can not be held, for example, by private entities or individuals. 

Currency System in India

Dear Readers,

Today we are providing you all some important points on our Currency system as this is one of the important topic within Banking Awareness. We are expecting questions from this portion. So, enjoy the post.

Present Denomination of Bank Notes:

At present, banknotes in India are issued in the denomination of Re.1, Rs.5 Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000. These notes are called banknotes as they are issued by the Reserve Bank of India (Reserve Bank).

Denomination of Bank Notes & Coins:

The Reserve Bank can also issue banknotes in the denominations of five thousand rupees and ten thousand rupees, or any other denomination that the Central Government may specify. There cannot, though, be banknotes in denominations higher than ten thousand rupees in terms of the current provisions of the Reserve Bank of India of Act, 1934.  Coins can be issued up to the denomination of Rs.1000.

Role of Government of India in Currency System:

In terms of Section 25 of RBI Act, 1934 the design of banknotes is required to be approved by the Central Government on the recommendations of the Central Board of the Reserve Bank of India. The responsibility for coinage vests with the Government of India on the basis of the Coinage Act, 1906 as amended from time to time. The Government of India also attends to the designing and minting of coins in various denominations.

How much currency to be produced?

The Reserve Bank decides the volume and value of banknotes except Re. 1 note to be printed each year. The quantum of banknotes that needs to be printed, broadly depends on the requirement for meeting the demand for banknotes due to inflation, GDP growth, replacement of soiled banknotes and reserve stock requirements.

Who decides the coins issue?

The Government of India decides the quantity of coins to be minted on the basis of indents( official order) received from the Reserve Bank.  

How does the Reserve Bank estimate the demand for banknotes?

The Reserve Bank estimates the demand for banknotes on the basis of the growth rate of the economy, the replacement demand and reserve stock requirements by using statistical models/techniques. 

What is a currency chest?

To facilitate the distribution of banknotes and rupee coins, the Reserve Bank has authorized select branches of scheduled banks to establish Currency Chests. These are actually storehouses where banknotes and rupee coins are stocked on behalf of the Reserve Bank.

What is a small coin depot?

Some bank branches are also authorized to establish Small Coin Depots to stock small coins. The Small Coin Depots also distribute small coins to other bank branches in their area of operation.

What are soiled, mutilated and imperfect banknotes?

(i) "soiled note:" means a note which, has become dirty due to usage and also includes a two piece note pasted together wherein both the pieces presented belong to the same note, and form the entire note.

(ii) Mutilated banknote is a banknote, of which a portion is missing or which is composed of more than two pieces.

(iii) Imperfect banknote means any banknote, which is wholly or partially, obliterated, shrunk, washed, altered or indecipherable but does not include a mutilated banknote.

 Can soiled and mutilated banknotes be exchanged for value?

Yes. Such banknotes can be exchanged for value.

Clean Note Policy:

Reserve Bank of India has been continuously making efforts to make good quality banknotes available to the members of public.  To help RBI and banking system, the members of public are requested to ensure the following:

a) Not to staple the banknotes

b) Not to write / put rubber stamp or any other mark on the banknotes

c) Store the banknotes safely to prevent any damage

Note:

1) Seeking to spread awareness among public about fake notes, the Reserve Bank has launched a website explaining ways to detect counterfeit notes. With a tagline 'Pehchano Paise Ki Boli, Kyunki Paisa Bolta Hai', the website- www.paisaboltahai.rbi.org.in -- gives visual presentation with pointers on currency notes of 10, 20, 50, 100, 500 and 1,000 rupee denominations.

2) MINIMUM RESERVE SYSTEM

The Reserve Bank has the sole right to issue currency notes, except one rupee notes which are issued by the Ministry of Finance. The RBI follows a minimum reserve system in the note issue. Initially, it used to keep 40 per cent of gold reserves in its total assets. But, since 1957, it has to maintain only Rs. 200 crores of gold and foreign exchange reserves, of which gold reserves should be of the value of Rs. 115 crores.

3) After a gap of over 20 years, Re 1 note has been released in the country and it bears the signature of Finance Secretary Rajiv Mehrishi. Incidentally, the note was released at Shrinathji temple in Nathdwara, Rajasthan, on March 6 by Mehrishi.

ALL ABOUT NBFC'S

Dear Readers,

You all must have heard that the Reserve Bank of India is entrusted with the responsibility of regulating and supervising the Non-Banking Financial Companies. So, let’s discuss about what actually NBFC’s are.  

About the term NBFC:

A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit fund business.

Difference between BANK & NBFC:

NBFCs lend and make investments and hence their activities are akin to that of banks; however there are a few differences as given below:

i. NBFC cannot accept demand deposits;

ii. NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself;

iii. deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks.

Different types/categories of NBFCs registered with RBI:

NBFCs are categorized

a) In terms of the type of liabilities into Deposit and Non-Deposit accepting NBFCs,

b) Non deposit taking NBFCs by their size into systemically important and other non-deposit holding companies (NBFC-NDSI and NBFC-ND) and

c) By the kind of activity they conduct.

Within this broad categorization the different types of NBFCs are as follows:

i. Asset Finance Company(AFC) : An AFC is a company which is a financial institution carrying on as its principal business the financing of physical assets supporting productive/economic activity, such as automobiles, tractors, lathe machines, generator sets, earth moving and material handling equipments, moving on own power and general purpose industrial machines.

ii. Investment Company (IC) : IC means any company which is a financial institution carrying on as its principal business the acquisition of securities.

iii. Loan Company (LC): LC means any company which is a financial institution carrying on as its principal business the providing of finance whether by making loans or advances or otherwise for any activity other than its own but does not include an Asset Finance Company.

iv. Infrastructure Finance Company (IFC): IFC is a non-banking finance company

a) which deploys at least 75 per cent of its total assets in infrastructure loans,

b) has a minimum Net Owned Funds of Rs. 300 crore,

c) has a minimum credit rating of ‘A ‘or equivalent d) and a CRAR of 15%.

v. Infrastructure Debt Fund: Non- Banking Financial Company (IDF-NBFC) : IDF-NBFC is a company registered as NBFC to facilitate the flow of long term debt into infrastructure projects. IDF-NBFC raise resources through issue of Rupee or Dollar denominated bonds of minimum 5 year maturity. Only Infrastructure Finance Companies (IFC) can sponsor IDF-NBFCs.

vi. Non-Banking Financial Company - Micro Finance Institution (NBFC-MFI): NBFC-MFI is a non-deposit taking NBFC having not less than 85%of its assets in the nature of qualifying assets which satisfy the following criteria:

a. loan disbursed by an NBFC-MFI to a borrower with a rural household annual income not exceeding Rs. 60,000 or urban and semi-urban household income not exceeding Rs. 1,20,000.

b. tenure of the loan not to be less than 24 months for loan amount in excess of Rs. 15,000 with prepayment without penalty; 

vii. Non-Banking Financial Company – Factors (NBFC-Factors): NBFC-Factor is a non-deposit taking NBFC engaged in the principal business of factoring. The financial assets in the factoring business should constitute at least 75 percent of its total assets and its income derived from factoring business should not be less than 75 percent of its gross income.

Register with RBI:

A company incorporated under the Companies Act, 1956 and desirous of commencing business of non-banking financial institution as defined under Section 45 I(a) of the RBI Act, 1934 should comply with the following:

i. it should be a company registered under Section 3 of the companies Act, 1954

ii. It should have a minimum net owned fund of Rs 200 lakh. 

Deposits in NBFC:

a) Presently, the maximum rate of interest an NBFC can offer is 12.5%. The interest may be paid or compounded at rests not shorter than monthly rests.

b) The NBFCs are allowed to accept/renew public deposits for a minimum period of 12 months and maximum period of 60 months. They cannot accept deposits repayable on demand.

c)  The deposits with NBFCs are not insured.

d)  The repayment of deposits by NBFCs is not guaranteed by RBI.

Brief about RNBC

a) Residuary Non-Banking Company is a class of NBFC which is a company and has as its principal business the receiving of deposits, under any scheme or arrangement or in any other manner and not being Investment, Asset Financing, Loan Company. 

b) These companies are required to maintain investments as per directions of RBI, in addition to liquid assets. 

c) The amount payable by way of interest, premium, bonus or other advantage, by whatever name called by a RNBC in respect of deposits received shall not be less than the amount calculated at the rate of 5% (to be compounded annually) on the amount deposited in lump sum or at monthly or longer intervals; and at the rate of 3.5% (to be compounded annually) on the amount deposited under daily deposit scheme. 

d) Further, a RNBC can accept deposits for a minimum period of 12 months and maximum period of 84 months from the date of receipt of such deposit. They cannot accept deposits repayable on demand.

Some other regulators:

Category of Companies	Regulator
Chit Funds	Respective State Governments
Insurance companies	IRDA
Housing Finance Companies	NHB
Venture Capital Fund /	SEBI
Merchant Banking companies	SEBI
Stock broking companies	SEBI
Nidhi Companies	Ministry of corporate affairs, Government of India

Banking Quiz for Bank exams and SBI Clerk

1.The term “Licensed banks” means: 

A. Banks licensed to deal in foreign exchange business under the Foreign Exchange Regulation Act, 1973

B. Banks licensed to participate in the “Clearing house”

C. Foreign banks which are licensed to establish branch officers in India 

D. Banks licensed by the Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 for carrying on or commencing banking business in India 

2.When was the first commercial bank in India named ‘Hindustan Bank’ set up in Calcutta (now Kolkata): 

A. 1690

B. 1770

C. 1805 

D. 1890 

3.Modern commercial banking in India begins with the setting up of the first Presidency Bank, The Bank of Bengal in ………. In Calcutta (now Kolkata): 

A. 1790

B. 1806

C. 1825

D. 1910

4.Regional Rural Bank were established in the year: 

A. 1968

B. 1970

C. 1975

D. 1977

5.A commercial bank is prohibited from issuing a bank draft payable to bearer by the provisions contained in: 

A. The Negotiable Instruments Act, 1881

B. The Reserve Bank of India Act, 1934 

C. The Companies Act, 1956

D. The Banking Regulation Act, 1949 

6.Which of the following is a form of “Small Savings Bank” popular among the poor or children: 

A. Core Banking 

B. Credit Banking 

C. Debit Card 

D. Piggy Banking 

7.Which of the following terms is not used in the world of economics/finance: 

A. Sinking Fund 

B. Third World 

C. Open Door Policy 

D. Devaluation 

8.Which of the following organizations/agencies controls the monetary policy of our country: 

A. SEBI

B. Planning Commission 

C. RBI

D. Union Ministry of Finance 

9.Which of the following is the name of the organization set up to boost overall small finance in India: 

A. RBI

B. SIDBI

C. NABARD

D. SEBI

10.Which of the following organization/agencies is specifically set up to boost overall rural development in India: 

A. RBI

B. SIDBI

C. NABARD

D. SEBI