Practice Quiz set 1 - indian economy mcq Online Quiz (set-1) For All Competitive Exams
Q-1) In which of the following years India switched over to decimal currencies?
(a)
(b)
(c)
(d)
India switched over to decimal currency in 1957 with the amendment of the Indian Coinage Act. The rupee remained unchanged in value and nomenclature. It, however, was now divided into 100 ‘Paisa’ instead of 16 Annas.
Q-2) RBI’s first census of India’s foreign Assets & Liability as on 30 June 1948 revealed total foreign business investments of Rs. 302 cr, out of it what was the % of British investments in India?
(a)
(b)
(c)
(d)
72% was British investment in India, when RBI first census of India’s foreign Assets & Liabilites as on 30 June 1948 revealed total business investment of Rs.302 crore.
Q-3) The country’s first Aadhaar based ATM is launched by which one of the following banks?
(a)
(b)
(c)
(d)
DCB Bank, launched a “card-less and PIN-less” ATM in Bengaluru, in June, 2017. The ATM accepts Aadhaar number and Aadhaar fingerprint (biometric) instead of ATM / debit card and PIN to dispense cash from the bank account.
Q-4) Which one of the following does not implement the Self – Help Groups (SHGs) - Bank Linkage programme?
(a)
(b)
(c)
(d)
The Self-Help Group-Bank Linkage Programme (SBLP), which was started as a pilot programme in 1992 on the basis of the recommendation of the S K Kalia Committee.
Commercial banks, co-operative banks and the regional rural banks have been actively participating in the SBLP. NABARD does not implement the SBLP.
Q-5) The apex organisation of industrial finance in India is—
(a)
(b)
(c)
(d)
IDBI Bank is an Indian government-owned financial service company, formerly known as Industrial Development Bank of India, headquartered in Mumbai, India.
IFCI: (Industrial finance corporation of India): It is an Indian government-owned development bank to cater to the long term financial needs of industrial sectors.
ICICI: It is an Indian multinational banking & financial services company headquartered in Mumbai.
Q-6) The head office of the National Bank for Agriculture and Rural Development (NABARD) located in
(a)
(b)
(c)
(d)
The head office of the National Bank for Agriculture and Rural Development (NABARD) is located in Mumbai. It helps farmers access timely and adequate credit. Current Chairman - Dr. Harsh Kumar Bhanwala
Q-7) The Insurance Regulatory and Development Authority was set up in India on
(a)
(b)
(c)
(d)
Q-8) Debenture holders of a company are the
(a)
(b)
(c)
(d)
Q-9) In the context of Indian economy; which of the following is/are the purpose/purposes of ‘Statutory Reserve Requirements’? - To enable the Central Bank to control the amount of advances the banks can create
- To make the people’s deposits with banks safe and liquid
- To prevent the commercial banks from making excessive profits
- To force the banks to have sufficient vault cash to meet their day-to-day requirements
Select the correct answer using the code given below.
(a)
(b)
(c)
(d)
Because Reserve requirements are designed as “precautionary measures” and not to stop banks from “excessive” profit.
Q-10) Which of the following statements is/are correct in regard to ‘microfinance’? - Micro-credit extended by banks to individual is reckoned as a part of their priority sector lending.
- RBI has prescribed a particular model the banks to provide microfinance.
Choose the correct answer using the codes given below:
(a)
(b)
(c)
(d)
Micro-credit extended by banks to individuals is reckoned as a part of their priority sector lending and no particular model has been prescribed for micro-finance and banks have been extended freedom to formulate their own models.