ACRONYMS
IFC
Indian Financial Corporation
Minimum age required to open SB account in the bank
10 years
'NABARD' is related to development of:
Agriculture and Rural Areas
In which year was the Banking Regulation Act passed?
1949
Which type of insurance covers legal liabilities resulting from bodily injury or property damage to others?
Liability Insurance
GDP
Gross Domestic Product
Highest denomination of currency notes issued by RBI is
1000 rupees
This account is normally opened for business for their convenience.
Current Deposit
When was the Life Insurance Corporation of India formed?
September 1, 1956
Insurance agents who represent multiple insurers and offer policy options from different providers are called:
Brokers
FCA
Foreign Currency Assets
Maximum tenure of Fixed Deposit
10 years
Imperial Banks were amalgamated and changed as
State Banks of India.
When did the banking sector reforms begin?
1991
Which regulatory body oversees the insurance industry in many countries, including the United States?
National Association of Insurance Commissioners (NAIC)
CRR
Cash Reserve Ratio
Under PMSBY, accidental death claim is available for:
2 lakhs
What is the tagline of Bank of Baroda?
India's International Bank
The first insurance company was started in
1680
What is the contract between the insured and the insurance company called?
Insurance Policy
ASSOCHAM
Associated Chambers of Commerce and Industry of India
How many developments banks are there in India?
6
What is the rate at which the RBI lends short-term money to the banks?
Repo Rate
IDBI was established in
1964
Which type of insurance covers damage to a person’s vehicle caused by events other than collisions, such as theft, vandalism, or weather-related incidents?
Comprehensive Insurance