Dear aspirants,
We are presenting you the AIIB, foreign remittance, SWIFT MCQ for RBI Grade B Finance Section of the exam.These questions will cover the topics such as SWIFT, foreign remittances, ETF, Board of management for UCB etc which are very important from exam point of view. Also do read the answers provided at the end of quiz.
Q1. Where is the headquarters of SWIFT (Society for the Worldwide Interbank Financial Telecommunication)?
- New York, USA
- Zurich, Switzerland
- Brussels, Belgium
- Paris, France
Q2. Which of the following is true regarding SWIFT:
a) It is secure financial messaging carrier;
b) It was founded in 1973 by group of 239 banks from 15 countries;
c) It is a cooperative utility for promotion and development of standardized global interactivity for financial transactions
d) It grants re-finance facility to member banks.
Choose the correct answer from the options given below:
- Only a, b and c
- Only b and c
- Only a, c and d
- All options are correct
Q3. Which out of the following is most popular channel of foreign inward remittances to India?
- SWIFT
- Rupee Drawing Arrangement (RDA)
- Direct transfers
- Cheques and Drafts
Q4. In 2018 Rupee has fallen 9% against dollar, which out the following is/are the implication of depreciation of rupee in Indian context?
a) Importer are losers as cost of importing goods or capital goods in to India will increase;
b) It increases the foreign inward remittances to the country
c) Exporters are benefited as they get more rupees while converting their dollar export earnings into Indian currency.
d) It increases the oil prices and since India is third largest Oil importer, it may cause inflation in overall economy.
Choose the correct answer from the options given below:
- Only a and c
- Only b, c and d
- Only a, c and d
- All options are correct
Q5. Recently government has launched an ETF Bharat-22, which of the following is/are true about Exchange Traded Fund (ETF) ?
a) It is collective Investment scheme;
b) It mirror the index, commodity, bonds or basket of assets
c) It is similar to Mutual Funds but is more liquid.
d) It is traded on stock exchange.
Choose the correct answer from the options given below:
- Only a and d
- Only b, c and d
- Only a, b and d
- All options are correct
Q6. Who was the chairman of high powered committee constituted by RBI to examine the issues with regard to permissible business lines, appropriate size and conversion of Urban Co-operative Banks (UCBs) into commercial banks?
- R Gandhi
- Y H Malegam
- J. Nayak
- Y Venugopal Rao
Q7. Which out of the following is/are true regarding the draft guidelines on Board of Management for Urban Co-operative Banks released by RBI?
a) There shall be a Board of Management (BoM) in every UCB in addition to the Board of Directors;
b) At least sixty per cent of the members of BoM shall consist of persons having special knowledge
c) Existing UCBs having deposit size exceeding Rs. 100 crore shall put in place the BoM within a period of one year.
d) The BoM shall have a minimum of three members in UCBs having deposit size up to Rs. 100 crore and five members in UCBs having deposit size above Rs. 100 crore.
Choose the correct answer from the options given below:
- Only a and b
- Only a, c and d
- Only a, b and c
- All options are correct
Q8. When did Asia Infrastructure Investment Bank (AIIB) established?
- 2013
- 2014
- 2015
- 2016
Q9. Where is the headquarters of Asia Infrastructure Investment Bank (AIIB) established?
- New Delhi
- Beijing
- Moscow
- Tokyo
Q10. Which country is the largest shareholder in Asia Infrastructure Investment Bank (AIIB)?
- China
- India
- Russia
- Germany
Answers
- 3
The headquarters of SWIFT (Society for the Worldwide Interbank Financial Telecommunication) is in Brussels, Belgium
- 1
SWIFT is a secure financial message carrier. It transports messages from one bank to other bank recipient. It was founded in 1973 by a group of 239 banks from 15 countries which formed a co-operative utility to develop a secure electronic messaging service and common standards to facilitate cross-border payments. It operates a messaging service for financial messages, such as letters of credit, payments, and securities transactions, between member banks worldwide
- 2
The rupee drawing arrangement (RDA) is the most popular channel of remittances which accounts for 75.2 per cent of remittances, followed by SWIFT (19.5 per cent), direct transfers (3.4 per cent) and cheques and drafts (1.9 per cent)
- 3
There is no direct relation of foreign inward remittances with depreciation of domestic currency.
- 4
ETF is a collective investment scheme offered as Index Fund. ETFs are listed on stock exchange which are traded much like stocks but provides the features of mutual. These are more liquid than mutual funds since these can be sold on exchange. The ETF holds the underlying asset like stocks, commodities, or bonds.
- 1
A High Powered Committee was constituted by the Reserve Bank on January 30, 2015 under the Chairmanship of Shri R. Gandhi, Deputy Governor, Reserve Bank of India, to examine the issues with regard to permissible business lines, appropriate size and conversion of Urban Co-operative Banks (UCBs) into commercial banks
- 2
There shall be a Board of Management (BoM) in every UCB in addition to the Board of Directors. Existing UCBs having deposit size exceeding Rs. 100 crore shall put in place the BoM within a period of one year. The BoM shall have a minimum of three members in UCBs having deposit size up to Rs. 100 crore and five members in UCBs having deposit size above Rs. 100 crore. At least fifty per cent of the members of BoM shall consist of persons having special knowledge or practical experience
- 3
Asia Infrastructure Investment Bank (AIIB) was officially established in 2015
- 2
Asia Infrastructure Investment Bank (AIIB) was officially established in 2015 with headquarters in Beijing
- 1
China has largest shareholding in AIIB with 31.01% followed by India (8.71%), Russia (6.80%) and Germany 4.66%.
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