211. Which of the following taxes is levied and collected by the union, but assigned to the states?

a) sales tax
b) octroi
c) excise
d) consignment tax

Answer: consignment tax

212. Which is the largest commercial bank in India?

a) Reserve Bank of India
b) State Bank of India
c) ICICI Bank
d) Bank of India

Answer: State Bank of India

213. Bank of Hindustan is the oldest bank in India. When did it start functioning?

a) 1990
b) 1770
c) 1885
d) 1892

Answer: 1770

214. The Bank of Calcutta, Bank of Bombay and Bank of Madras were merged in 1921 to form

a) Reserve Bank of India
b) Imperial Bank of India
c) Bank of India
d) Union Bank of India

Answer: Imperial Bank of India

215. When was the Reserve Bank of India established?

a) 1935
b) 1920
c) 1928
d) 1947

Answer: 1935

216. When was the Imperial Bank of India nationalized to form the State Bank of India?

a) 1947
b) 1949
c) 1951
d) 1955

Answer: 1955

217. The Reserve Bank of India was nationalized in?

a) 1947
b) 1948
c) 1950
d) 1956

Answer: 1948

218. What is a Bank which has capital and reserves of over Rs. 5 lakhs called?

a) National Bank
b) Cooperative Bank
c) Scheduled Bank
d) Unscheduled Bank

Answer: Scheduled Bank

219. The Export-Import (EXIM) Bank was set up in

a) 1982
b) 1983
c) 1987
d) 1985

Answer: 1982

220. Which of the following has the sole right of issuing paper notes in India?

a) Union Government
b) Reserve Bank of India
c) Ministry of Finance
d) Supreme Court

Answer: Reserve Bank of India

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