Class 11 Finance MCQ Chapter 7 Evolution and Growth of Bank in India Solutions in English Medium to each chapter is provided in the list so that you can easily browse through different chapters Class 11 Finance MCQ Chapter 7 Evolution and Growth of Bank in India Question Answer and select need one. Class 11 Finance MCQ Chapter 7 Evolution and Growth of Bank in India Solutions Download PDF. AHSEC Class 11 Banking Multiple Choice Solutions.
Class 11 Finance MCQ Chapter 7 Evolution and Growth of Bank in India
Also, you can read the NCERT book online in these sections Solutions by Expert Teachers as per Central Board of Secondary Education (CBSE) Book guidelines. AHSEC Class 11 Finance Objective Type Solutions are part of All Subject Solutions. Here we have given HS 1st Year Banking Multiple Choice Question and Answer, HS First Year Banking MCQ Solutions for All Chapters, You can practice these here.
Evolution and Growth of Bank in India
Chapter: 7
| MCQ |
1. Which period marks the origin of Indian Banking?
(i) Vedic Period.
(ii) Smrity Period.
(iii) Ancient Period.
(iv) Post-Independence Period.
Ans: (iii) Ancient Period.
2. Which community largely carried on banking activities during the Smrity period?
(i) Vaish.
(ii) Brahmin.
(iii) Kshatriya.
(iv) Shudra.
Ans: (ii) Brahmin.
3. During which period did banking become a full-fledged activity in India?
(i) Vedic Period.
(ii) Ramayana Period.
(iii) Mahabharata Period.
(iv) Smrity Period.
Ans: (i) Vedic Period.
4. Which community largely carried on banking activities during the Smrity period?
(i) Vaish.
(ii) Brahmin.
(iii) Kshatriya.
(iv) Shudra.
Ans: (i) Vaish.
5. The first modern bank established in India was ‘The Bank of Hindustan.’ In which year was it established?
(i) 1673
(ii) 1770
(iii) 1806
(iv) 1807
Ans: (ii) 1770
6. Which agency house established ‘The Bank of Hindustan’ in 1770?
(i) Alexander and Company.
(ii) East India Company.
(iii) Hindustan Trading Company.
(iv) Bengal Merchants.
Ans: (i) Alexander and Company.
7. What was the original name of the Bank of Bengal before it was brought under a Royal Charter in 1809?
(i) Bank of Calcutta.
(ii) Bank of Madras.
(iii) Bengal Bank.
(iv) Bank of Bombay.
Ans: (i) Bank of Calcutta.
8. In which year was the Bank of Madras established?
(i) 1806
(ii) 1843
(iii) 1683
(iv) 1840
Ans: (ii) 1843
9. Which movement led to the establishment of several banks, including Bank of India, Central Bank of India, and Bank of Baroda?
(i) Quit India Movement.
(ii) Swadesi Movement.
(iii) Non-Cooperation Movement.
(iv) Salt March.
Ans: (ii) Swadesi Movement.
10. Which year did the Imperial Bank of India come into existence?
(i) 1885
(ii) 1921
(iii) 1901
(iv) 1935
Ans: (ii) 1921
11. Under which Act was the Reserve Bank of India established?
(i) Reserve Bank of India Act, 1935
(ii) Reserve Bank of India Act, 1921
(iii) Imperial Bank of India Act, 1920
(iv) Joint Stock Companies Act, 1850
Ans: (i) Reserve Bank of India Act, 1935
12. Which of the following banks was established during the Swadesi Movement in 1905?
(i) Reserve Bank of India.
(ii) People’s Bank.
(iii) Bank of India.
(iv) Oudh Commercial Bank.
Ans: (iii) Bank of India.
13. What was the objective of the social control scheme introduced by the government in 1968?
(i) To expand rural banking.
(ii) To ensure equitable distribution of bank credit.
(iii) To nationalize private banks.
(iv) To promote foreign investment.
Ans: (ii) To ensure equitable distribution of bank credit.
14. The Banking Companies Act of 1949 was later renamed as what?
(i) Banking Act, 1955.
(ii) Reserve Bank Act, 1949.
(iii) Banking Regulation Act, 1949.
(iv) Banking Act, 1949.
Ans: (iii) Banking Regulation Act, 1949.
15. How many commercial banks were nationalized in 1969?
(i) 6
(ii) 14
(iii) 12
(iv) 16
Ans: (ii) 14
