Financial Bodies — Set 4
Abbreviations · वित्तीय निकाय · Questions 31–40 of 40
What does the abbreviation NSDL stand for in the securities market?
Correct Answer: D. National Securities Depository Limited
NSDL stands for the National Securities Depository Limited which handles securities in electronic form. It was the first electronic securities depository in India, established in 1996. It facilitates the paperless trading and settlement of shares and bonds.
What is the full form of the abbreviation CIBIL in credit history tracking?
Correct Answer: D. Credit Information Bureau (India) Limited
CIBIL stands for Credit Information Bureau (India) Limited and maintains records of an individual's credit history. It generates credit scores that help lenders assess the creditworthiness of a borrower. This institution is essential for the healthy functioning of the lending market.
What does the abbreviation SWIFT stand for in international banking?
Correct Answer: C. Society for Worldwide Interbank Financial Telecommunication
SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication and provides a secure network for financial messaging. It allows banks to send and receive information about financial transactions in a standardized way. It is based in Belgium and used by thousands of financial institutions globally.
What is the full form of the abbreviation FMCG in the consumer sector?
Correct Answer: A. Fast-Moving Consumer Goods
FMCG stands for Fast-Moving Consumer Goods which are products that are sold quickly and at relatively low cost. Examples include packaged foods, beverages, and toiletries. These goods have a high turnover rate and are essential for daily consumption.
What does the abbreviation REIT stand for in real estate investment?
Correct Answer: C. Real Estate Investment Trust
REIT stands for Real Estate Investment Trust which is a company that owns, operates, or finances income-generating real estate. It allows individuals to invest in large-scale real estate portfolios without having to buy physical properties. These trusts are modeled after mutual funds and pay out dividends to shareholders.
What is the full form of the abbreviation FEMA?
Correct Answer: A. Foreign Exchange Management Act
FEMA stands for the Foreign Exchange Management Act and regulates foreign exchange transactions in India. It was enacted in 1999 to replace the older and more restrictive FERA. Its main objective is to facilitate external trade and payments and promote an orderly foreign exchange market.
What does the abbreviation MSME stand for in the economic context?
Correct Answer: B. Micro, Small and Medium Enterprises
MSME stands for Micro, Small and Medium Enterprises and is considered the backbone of many economies. These enterprises contribute significantly to industrial production, exports, and employment generation. In India, they are classified based on investment in plant and machinery or equipment.
What is the full form of the abbreviation GST?
Correct Answer: C. Goods and Services Tax
GST stands for the Goods and Services Tax and is a comprehensive indirect tax on the supply of goods and services. It replaced multiple cascading taxes levied by the central and state governments. It follows a multi-stage, destination-based taxation system.
What does the abbreviation KYC stand for in banking compliance?
Correct Answer: A. Know Your Customer
KYC stands for Know Your Customer and is a process of verifying the identity and address of clients. It helps prevent financial crimes like identity theft, money laundering, and fraud. Banks are required to perform KYC periodically for all their account holders.
What does the abbreviation "EXIM Bank" stand for in the context of India's trade finance?
Correct Answer: B. Export-Import Bank of India
EXIM Bank stands for Export-Import Bank of India. Established in 1982 under the Export-Import Bank of India Act, it is the premier export finance institution of the country. EXIM Bank is wholly owned by the Government of India and finances, facilitates, and promotes India's international trade and investment. It provides financial assistance to exporters and importers, and also supports Indian companies investing overseas. The bank plays a key role in India's "Make in India" initiative by financing export-oriented projects and assisting Indian companies in expanding globally.