Practice Quiz set 4 - indian economy mcq Online Quiz (set-1) For All Competitive Exams
Q-1) Monetary policy in India is formulated by :
(a)
(b)
(c)
(d)
The Reserve Bank of India formulates Monetary Policy in India.
Q-2) Which one of the following is not an industrial finance institution?
(a)
(b)
(c)
(d)
NABARD provides its refinance for the promotion of agriculture in India.
Q-3) The bank cheques are processed by using
(a)
(b)
(c)
(d)
Magnetic Ink Character Recognition, or MICR, is a character-recognition technology used primarily by the banking industry to facilitate the processing of cheques and makes up the routing number and account number at the bottom of a cheque.
The technology allows computers to read the information (such as account numbers) off printed documents. Unlike barcodes or similar technologies, however, MICR codes can be easily read by humans.
MICR characters are printed in special typefaces with magnetic ink or toner, usually containing iron oxide.
Q-4) Which one of the following organisations is a financial institution ?
(a)
(b)
(c)
(d)
ICICI (Industrial Credit and Investment Corporation of India) Bank is an Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra.
It is the largest private sector bank and overall the second largest bank in India after State Bank of India.
Q-5) Which among the following sector of Indian Economy is maximum dependent on economic developments in advanced nations? - Manufacturing Sector
- Agricultural Sector
- Mining Sector
- Services Sector
Which statement is/are correct
(a)
(b)
(c)
(d)
Indian Economy is highly dependent on agriculture because still the maximum population stays in rural area.
Q-6) Which amidst the following is not a credit rating agency ?
(a)
(b)
(c)
(d)
A credit rating agency (CRA) is a company that assigns credit ratings for issuers of certain types of debt obligations as well as the debt instruments themselves. In some cases, the servicers of the underlying debt are also given ratings.
CRISIL is the most influential and largest credit rating agency among all the credit rating agencies in India. ICRA Limited (ICRA) is one of India’s premier financial information services companies. It offers credit rating information and professional financial consulting services across India, as well as in the Asia-Pacific region through its subsidiaries.
CARE Ratings commenced operations in April 1993 and over nearly two decades, it has established itself as the second-largest credit rating agency in India.
The government established The Industrial Finance Corporation of India (IFCI) on July 1, 1948, as the first Development Financial Institution in the country to cater to the long-term finance needs of the industrial sector.
Q-7) Consequent upon the recommendations of the Working Group on Rural Banks, 5 Rural Regional Banks were initially set up in the year
(a)
(b)
(c)
(d)
The Government of India set up Regional Rural Banks (RRBs) on October 2, 1975.
Initially, five RRBs were set up on October 2, 1975, which were sponsored by Syndicate Bank, State Bank of India, Punjab National Bank, United Commercial Bank and United Bank of India.
Capital share being 50% by the central government, 15% by the state government and 35% by the scheduled bank
Q-8) The biggest item of India’s imports is :
(a)
(b)
(c)
(d)
As per the Economic Survey 2011-12, Petroleum, oil and lubricants (POL) imports constituted 31.4 per cent of total imports in the first half of 2011-12 due to high prices of crude oil.
- Food and allied products comprised 3.1 per cent share;
- Fertilizers: 1.7 per cent;
- Capital Goods: 11.6 per cent;
- Chemicals: 5.1 per cent;
- Pearls, Precious Stones: 6.0 per cent;
- Gold & Silver: 13.3 per cent; and
- Electronic goods comprised a 7.2 per cent share of the total imports.
Q-9) Fixed Foreign Exchange Rate can be changed by
(a)
(b)
(c)
(d)
The Reserve Bank of India has the responsibility of maintaining fixed exchange rates with all other member countries of the International Monetary Fund.
Besides maintaining the rate of exchange of the rupee, the Reserve Bank has to act as the custodian of India’s reserve of international currencies. It operates the exchange control system.
Q-10) Consider the following statements :
- NTPC has diversified to the hydropower sector
- Power Grid Corporation has diversified into the telecom sector.
Which of the statements below is correct?
(a)
(b)
(c)
(d)
NTPC Limited is the largest Indian state-owned electric utilities company based in New Delhi, India.
NTPC’s core business is engineering, construction and operation of power generating plants and providing consultancy to power utilities in India and abroad.
The name of the Company “National Thermal Power Corporation Limited” was changed to “NTPC Limited” with effect from 28 October 2005. The primary reason for this was the company’s foray into hydro and nuclear-based power generation along with backward integration by coal mining.
The Power Grid Corporation of India is an Indian state-owned electric utility company headquartered in Gurgaon, India. Power Grid wheels about 50% of the total power generated in India on its transmission network.
Power Grid has also diversified into the Telecom business and established a telecom network of more than 25,000 km across the country.