What is the core function of a factor in the context of the factoring business?
a. To finance company’s business against invoices
b. To bear the losses if the buyer fails to pay
c. To sell agricultural produce or goods of any kind
d. To secure credit facilities provided by a bank.
Ans – a
What is the maximum debt period permitted under factoring?
a. 150 days
b. 120 days
c. 100 days
d. 90 days
Ans – a
What is the prescribed limit of Priority Sector Lending (PSL) targets for Urban Co-operative Banks (UCBs) as per the current guidelines?
a. 40 per cent of Adjusted Net Bank Credit (ANBC)
b. 70 per cent of Adjusted Net Bank Credit (ANBC)
c. 75 per cent of Adjusted Net Bank Credit (ANBC)
d. 50 per cent of Adjusted Net Bank Credit (ANBC)
Ans – c
The RBI’s predetermined standards for determining suitability for Priority Sector Lending do not correspond to the following?
a. Activity specific
b. Collateral specific
c. Beneficiary specific
d. Both (a) and (c)
Ans – b
Who determines the criteria for Priority sector?
a. Government of India
b. Reserve Bank of India
c. Both (a) and (b)
d. NABARD
Ans – c
The RBI Act 1934 outlines the number of Local Boards that are formed within the RBI, as well as the number of members appointed to each of these boards – what are these numbers?
a. 2 Local Boards with 5 members each
b. 3 Local Boards with 5 members each
c. 4 Local Boards with 5 members each
d. 5 Local Boards with 5 members each
Ans – c
What is the specific clause in Chapter III-F of the RBI Act, 1934 that outlines the provision of information to the Monetary Policy Committee (MPC) members?
a. Sub-section 45ZL
b. Sub-section 45ZM
c. Sub-section 45ZN
d. Sub-section 45ZO
Ans – b
Who has been given the responsibility of exercising the general superintendence and direction of the Reserve Bank of India in accordance with Section 7 of the RBI Act, 1934?
a. Central Government
b. Central Board of Directors
c. Governor
d. Deputy Governors
Ans – c