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Question 1 of 5
1. Question
1 pointsWhich of the following is not a consequence of rupee depreciation?
Correct
Rupee deprecation badly affects importers or those who wish to visit foreign countries for holidays as they need more local currency to get the same service or product.
When rupee depreciates exporters from India are benefited. (Eg: Software companies, seafood exporters etc.). Depreciation of rupee benefit the overseas Indians as those who are working abroad will gain more on remitting money to their homeland.Incorrect
Rupee deprecation badly affects importers or those who wish to visit foreign countries for holidays as they need more local currency to get the same service or product.
When rupee depreciates exporters from India are benefited. (Eg: Software companies, seafood exporters etc.). Depreciation of rupee benefit the overseas Indians as those who are working abroad will gain more on remitting money to their homeland. -
Question 2 of 5
2. Question
1 pointsUnder the Provisions of the Banking Regulation Act, 1949 RBI can
1. Examine on oath any director or other officer of the bank
2. Issue directions to banks for resolution of stressed assets
3. Prohibit banks against entering into any particular transaction
Which of the above statements is/are correct?Correct
The Reserve Bank of India (RBI) regulates and supervises Public Sector and Private Sector Banks. The powers of RBI are wide-ranging and comprehensive to deal with various situations that may emerge in all banks, irrespective of ownership i.e. the Public Sector and the Private Sector owned Banks.
Incorrect
The Reserve Bank of India (RBI) regulates and supervises Public Sector and Private Sector Banks. The powers of RBI are wide-ranging and comprehensive to deal with various situations that may emerge in all banks, irrespective of ownership i.e. the Public Sector and the Private Sector owned Banks.
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Question 3 of 5
3. Question
1 pointsWhich one of the following items is not included in the ‘invisibles’ on current account of the balance of payment of India?
Correct
Loans from the foreign banks constitute capital account of Balance of Payment.
Incorrect
Loans from the foreign banks constitute capital account of Balance of Payment.
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Question 4 of 5
4. Question
1 pointsWhich of the following statements best describes Unemployment?
Correct
Option B is correct.
Incorrect
Option B is correct.
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Question 5 of 5
5. Question
1 pointsConsider the following statements about Peer to peer (P2P) lending.
1. It is a form of crowdfunding used to raise unsecured loans which are re-paid with interest.
2. Only individuals can borrow money.
3. RBI enabled P2P entities as Non-Banking Financial Company (NBFC).
Which of the above statements is/are correct?Correct
Peer to peer (P2P) lending is a form of crowdfunding used to raise unsecured loans which are re-paid with interest. Crowdfunding refers to financing of projects with small amounts of money raised from a large number of people, with a portal serving as an intermediary. It utilises an online platform which serves as a link between borrowers and lenders.
RBI vide a Notification on 24th August, 2017, enabled P2P entities as Non-Banking Financial Company (NBFC). However, an existing NBFC will not be able to operate as an NBFC-P2P.
Minimum networth requirement for these platforms is kept at Rs. 2 Cr. The borrower can either be an individual or a legal person (say a body of individuals, a HUF, a firm, a society or any artificial body, whether incorporated or not) requiring a loan.
The interest rate is not to be fixed by the platform. The interest rate for each and every loan is to be fixed separately over the electronic platform by way of a mutual agreement between the borrower and lender. Fund transfer between participants on the P2P lending platform will happen through escrow account mechanisms. All fund transfers shall be through and from bank accounts, and cash transactions are strictly prohibited.Incorrect
Peer to peer (P2P) lending is a form of crowdfunding used to raise unsecured loans which are re-paid with interest. Crowdfunding refers to financing of projects with small amounts of money raised from a large number of people, with a portal serving as an intermediary. It utilises an online platform which serves as a link between borrowers and lenders.
RBI vide a Notification on 24th August, 2017, enabled P2P entities as Non-Banking Financial Company (NBFC). However, an existing NBFC will not be able to operate as an NBFC-P2P.
Minimum networth requirement for these platforms is kept at Rs. 2 Cr. The borrower can either be an individual or a legal person (say a body of individuals, a HUF, a firm, a society or any artificial body, whether incorporated or not) requiring a loan.
The interest rate is not to be fixed by the platform. The interest rate for each and every loan is to be fixed separately over the electronic platform by way of a mutual agreement between the borrower and lender. Fund transfer between participants on the P2P lending platform will happen through escrow account mechanisms. All fund transfers shall be through and from bank accounts, and cash transactions are strictly prohibited.
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