Banking Terms — Set 3
Abbreviations · बैंकिंग शब्द · Questions 21–30 of 60
In banking, 'MCLR' stands for?
Correct Answer: D. Marginal Cost of funds based Lending Rate
MCLR stands for Marginal Cost of funds based Lending Rate. It is the minimum interest rate that a bank can lend at, except in some cases allowed by the regulator. It was introduced to improve the transparency and transmission of monetary policy rates.
What is the full form of 'BIS' in international economics?
Correct Answer: D. Bank for International Settlements
BIS stands for the Bank for International Settlements. It is an international financial institution owned by central banks which fosters international monetary and financial cooperation. Its headquarters are located in Basel, Switzerland.
In digital banking, 'IMPS' stands for?
Correct Answer: A. Immediate Payment Service
IMPS stands for Immediate Payment Service. It is an instant interbank electronic fund transfer service through mobile phones. It is managed by the National Payments Corporation of India (NPCI) and is available 24/7.
What is the full form of 'FCNR' accounts?
Correct Answer: A. Foreign Currency Non-Resident
FCNR stands for Foreign Currency Non-Resident account. It is a fixed deposit account opened in India by Non-Resident Indians (NRIs) in foreign currencies like USD or GBP. This helps investors avoid exchange rate risks.
The abbreviation 'GNP' stands for?
Correct Answer: D. Gross National Product
GNP stands for Gross National Product. It is an estimate of total value of all the final products and services produced in a given period by the means of production owned by a country's residents. GNP includes the value of goods produced by a country's citizens regardless of where they are.
What does 'SENSEX' represent in the context of the BSE?
Correct Answer: B. Sensitive Index
SENSEX stands for the Stock Exchange Sensitive Index. It is a stock market index of 30 well-established and financially sound companies listed on the Bombay Stock Exchange. It is widely considered the pulse of the Indian stock market.
In the context of the money market, 'CD' stands for?
Correct Answer: C. Certificate of Deposit
CD stands for Certificate of Deposit. It is a negotiable money market instrument and issued in a dematerialized form as a usance promissory note. It is issued by scheduled commercial banks and select financial institutions.
What does 'SIDBI' stand for?
Correct Answer: C. Small Industries Development Bank of India
SIDBI stands for Small Industries Development Bank of India. It is the principal financial institution for the promotion, financing, and development of the Micro, Small and Medium Enterprise (MSME) sector. Its headquarters are in Lucknow.
What is the full form of 'CASA' in banking?
Correct Answer: B. Current Account Savings Account
CASA stands for Current Account Savings Account. It is a type of non-term deposit that combines the features of both current and savings accounts. A higher CASA ratio is generally preferred by banks as it provides a low-cost source of funds.
In mutual funds, 'NAV' stands for?
Correct Answer: B. Net Asset Value
NAV stands for Net Asset Value. It represents the per-unit market value of all the assets held by a mutual fund scheme. NAV is calculated by dividing the total net assets of a scheme by the total number of units outstanding.