Financial Bodies — Set 2
Abbreviations · वित्तीय निकाय · Questions 11–20 of 40
In the context of the banking sector, what does NPCI stand for?
Correct Answer: D. National Payments Corporation of India
NPCI stands for the National Payments Corporation of India and is an umbrella organization for operating retail payments. It was founded by the Reserve Bank of India and Indian Banks' Association. NPCI is the body behind successful innovations like UPI and RuPay.
What does the abbreviation BIS stand for in global banking standards?
Correct Answer: A. Bank for International Settlements
The BIS stands for the Bank for International Settlements and acts as a bank for central banks. It fosters international monetary and financial cooperation and serves as a forum for regulators. It is famously known for the Basel Accords on banking supervision.
What does the abbreviation ADB stand for in the field of development finance?
Correct Answer: D. Asian Development Bank
The ADB stands for the Asian Development Bank and focuses on social and economic development in Asia and the Pacific. It was modeled on the World Bank and has its headquarters in Manila, Philippines. Japan and the United States are its largest shareholders.
What is the full form of the abbreviation EPFO?
Correct Answer: C. Employees' Provident Fund Organization
EPFO stands for the Employees' Provident Fund Organization and manages a compulsory contributory pension scheme. It is one of the world's largest social security organizations in terms of clientele and volume of transactions. It functions under the Ministry of Labour and Employment.
What does the abbreviation DICGC stand for in the Indian banking system?
Correct Answer: D. Deposit Insurance and Credit Guarantee Corporation
DICGC stands for the Deposit Insurance and Credit Guarantee Corporation which insures bank deposits. It provides a safety net to depositors by insuring up to a specific limit per bank account. It is a specialized division wholly owned by the Reserve Bank of India.
What is the full form of the abbreviation MUDRA?
Correct Answer: A. Micro Units Development and Refinance Agency
MUDRA stands for the Micro Units Development and Refinance Agency Bank. It provides funding to non-corporate, non-farm small/micro-enterprises. The bank classifies its loans into three categories: Shishu, Kishore, and Tarun.
What does the abbreviation NITI stand for in NITI Aayog?
Correct Answer: D. National Institution for Transforming India
NITI Aayog stands for the National Institution for Transforming India and replaced the Planning Commission. It acts as the premier policy 'Think Tank' of the Government of India. It provides both directional and policy inputs while fostering cooperative federalism.
In the context of credit ratings in India, what does CRISIL stand for?
Correct Answer: C. Credit Rating Information Services of India Limited
CRISIL stands for Credit Rating Information Services of India Limited and is a leading analytical company. It provides ratings, data, and advisory services to financial markets. It was the first credit rating agency established in India in 1987.
What is the full form of the abbreviation IBA in the context of Indian banks?
Correct Answer: A. Indian Banks' Association
IBA stands for the Indian Banks' Association and is a representative body of management of banking in India. It works to develop and coordinate the Indian banking system. It also facilitates the negotiation of wage agreements for bank employees.
What is the full form of the abbreviation RBI?
Correct Answer: B. Reserve Bank of India
The RBI stands for the Reserve Bank of India and is the country's central bank. It was established on April 1, 1935, based on the Hilton Young Commission's recommendations. It regulates the issuance of currency and maintains the nation's monetary stability.