GKwizard Which of the following is a key aspect of 'Open Banking'? A. Banks sharing customer data with third-party providers through APIs (with customer consent) B. Banks making their core banking systems publicly accessible C. The absence of any regulation in the banking sector D. Banks exclusively using open-source software Answer: Option A Open banking allows authorized third-party providers to access customer's financial data (with their explicit consent) to offer innovative financial products and services.
1 The concept of 'Lead Bank Scheme' in India, introduced in 1969, primarily aimed at: A. Promoting specialized banking services B. Enhancing financial inclusion in rural areas C. Regulating the lending rates of banks D. Facilitating inter-bank transactions View Answer
2 Which of the following committees is specifically associated with recommending reforms in India's banking sector? A. Kelkar Committee B. Bhagwati Committee C. Narasimham Committee D. Tendulkar Committee View Answer
3 The term 'Financial Inclusion' in India encompasses providing access to which of the following formal financial services? A. Only credit and savings B. Only insurance and pensions C. Banking, credit, insurance, and payment services D. Only investment and advisory services View Answer
4 What is the primary function of the Reserve Bank of India (RBI) as the 'lender of last resort'? A. Providing loans to the general public during emergencies B. Offering financial assistance to banks facing temporary liquidity mismatches C. Funding the government's fiscal deficit D. Regulating non-banking financial companies (NBFCs) View Answer
5 Which of the following is NOT a type of Non-Banking Financial Company (NBFC) in India? A. Investment Company B. Housing Finance Company C. Regional Rural Bank D. Infrastructure Finance Company View Answer