Banking And Financial Institutions - Study Mode
[#411] RBI set up the Agricultural Refinance Corporation (ARC) in 1963 to work as a refinancing agency in providing medium term and long-term agricultural credit to support investment credit needs for agricultural development. In 1975, ARC was renamed as Agriculture Refinance and Development Corporation (ARDC) to give focused attention to credit offtake, development and promotion of the agricultural sector. Ultimately, NABARD was set by RBI in 1982 whose main function is that it:
Correct Answer
(B) refinances the banks extending rural finance
[#412] PRAN Stands for:
Correct Answer
(A) Permanent Retirement Account Number
[#413] At what stage of opening of bank account is the checking of Politically Exposed Persons (PEP) carried out:
Correct Answer
(A) at the first point of customer interaction
[#414] Match the items of List-I with List-II in terms of functions of a bank. List-I List-II a. Underwriting 1. Primary Functions b. Transfer of funds 2. Granting Advances c. Overdraft 3. Utility Functions d. Recurring Deposits 4. Agency Functions
Correct Answer
(C) a-3, b-4, c-2, d-1
[#415] Risk pooling is an example of
Correct Answer
(B) diversifying risk