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Flashcards on Indian Economy: Banking and Financial Institutions
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What is meant by 'banking' in the context of Indian economy?
Banking refers to the system of commercial banks and financial institutions that provide various financial services.
What are the main functions of commercial banks in the Indian economy?
Commercial banks accept deposits, provide loans, facilitate transfers, and offer financial services.
Name a regulatory authority that governs the banking sector in India.
The Reserve Bank of India (RBI) regulates the banking sector in India.
What is the role of Non-Banking Financial Companies (NBFCs) in the Indian economy?
NBFCs provide financial services similar to that of banks, except they cannot accept demand deposits.
What are the types of accounts offered by commercial banks in India?
Commercial banks offer savings accounts, current accounts, and fixed deposits.
What is the purpose of the National Stock Exchange (NSE) in the Indian economy?
The NSE is a stock exchange where investors can buy and sell securities, such as stocks, bonds, and derivatives.
What is the significance of the Securities and Exchange Board of India (SEBI) in the Indian economy?
SEBI regulates the securities market and protects the interests of investors in India.
What is the role of insurance companies in the Indian economy?
Insurance companies provide protection against financial risks, such as life insurance, health insurance, and property insurance.
What are the main sources of income for commercial banks in India?
The main sources of income for commercial banks are interest earned from loans and investments, fees charged for services, and commission.
What is the role of the National Bank for Agriculture and Rural Development (NABARD) in the Indian economy?
NABARD provides financial support and promotes rural development by facilitating credit flow and agricultural activities.
What are the types of loans provided by commercial banks in India?
Commercial banks provide various types of loans, such as home loans, vehicle loans, personal loans, and business loans.
What is the role of the Small Industries Development Bank of India (SIDBI) in the Indian economy?
SIDBI provides financial assistance and support to small-scale industries and promotes their growth and development.
What is the function of the National Payments Corporation of India (NPCI) in the Indian economy?
NPCI is responsible for the development and management of various retail payment systems in India, including UPI and RuPay.
What is the role of the Financial Stability and Development Council (FSDC) in the Indian economy?
FSDC is a government body that promotes and maintains financial stability, inter-regulatory coordination, and financial sector development in India.
What are the main functions of the Securities and Exchange Board of India (SEBI)?
SEBI regulates the securities market, protects the interests of investors, and promotes the development of the securities market in India.
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Test Your Knowledge
Which regulatory authority governs the banking sector in India?
RBI
SEBI
IRDAI
PFRDA
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What is the function of Non-Banking Financial Companies (NBFCs) in the Indian economy?
Issuing currency
Regulating stock exchanges
Providing financial services
Managing monetary policy
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What is the purpose of the National Stock Exchange (NSE) in the Indian economy?
Collecting taxes
Providing healthcare services
Facilitating buying and selling of securities
Managing foreign exchange reserves
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What is the role of insurance companies in the Indian economy?
Regulating interest rates
Controlling inflation
Providing protection against financial risks
Promoting exports
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What are the main sources of income for commercial banks in India?
Foreign aid
Government grants
Interest earned from loans and investments
Revenue from tourism
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How does the National Bank for Agriculture and Rural Development (NABARD) contribute to the Indian economy?
Promoting urbanization
Developing infrastructure in metropolitan cities
Providing financial support and promoting rural development
Facilitating international trade
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What are the types of loans provided by commercial banks in India?
Travel loans
Cryptocurrency loans
Home loans, vehicle loans, personal loans, and business loans
Student loans
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What is the function of the National Payments Corporation of India (NPCI)?
Monitoring air pollution levels
Controlling traffic signals
Developing and managing retail payment systems
Issuing passports
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What is the role of the Financial Stability and Development Council (FSDC) in the Indian economy?
Supervising primary education
Manufacturing consumer goods
Promoting financial stability and sector development
Regulating telecommunications
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What are the main functions of the Securities and Exchange Board of India (SEBI)?
Forecasting weather patterns
Regulating the education sector
Regulating the securities market and protecting investor interests
Building infrastructure
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Which regulatory authority governs the banking sector in India?
RBI
SEBI
IRDAI
PFRDA
Check Answers
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