introduction to indian economy section 3 MCQ Questions & Answers Detailed Explanation

Answer: (c)

Corporation Bank is a public sector bank in India, based in Mangalore. Recently, it completed 107 years of existence on 12 March 2012.

Answer: (d)

Sunrise Industry is a colloquial term for a sector or business that is in its infancy but is growing at a rapid pace.

A sunrise industry is typically characterized by high growth rates, numerous startups and an abundance of venture capital funding. A sunrise industry is often characterized by a high degree of innovation.

Examples of sunrise industries include hydrogen fuel production, space tourism, electronic goods (high-technology industries that hold the promise of future development), etc.

Answer: (c)

Answer: (e)

At present, Hindustan Aeronautics Limited and Mahanagar Telephone Nigam Limited are both navaratna companies. Navratna was the title given originally to nine Public Sector Enterprises (PSEs), identified by the Government of India in 1997. The number of PSEs having Navratna status has been raised to 16

Answer: (a)

The limited advisory function accorded to the Public Service Commission and the continued stress on this aspect by the leaders of our freedom movement resulted in the setting up of a Federal Public Service Commission under the Government of India Act, 1935. The Federal Public Service Commission became the Union Public Service Commission after Independence.

The portfolio system in the Executive was introduced by the Indian constitution council act, 1861. The separation of provincial budgets from the central budget was introduced by the Indian council's Act, 1919.

Answer: (b)

The scheduled primary (urban) cooperative banks are required to maintain with the Reserve Bank of India an average daily balance, the amount of which should not be less than 5 per cent of their net demand and time liabilities in India in terms of Section 42 of the Reserve Bank of India Act, 1934.

Non-scheduled (urban) cooperative banks, under the provision of Section 18 of Banking Regulation Act, 1949 (As Applicable to Cooperative Societies) should maintain a sum equivalent to at least 3 per cent of their total demand and time liabilities in India on a day-to-day basis.