introduction to indian economy section 9 MCQ Questions & Answers Detailed Explanation

Answer: (c)

Food Corporation of India

Answer: (d)

Answer: (b)

Raj Rajeshwari Mahila Kalyan Yojana is a personal accident insurance scheme that provides economic security to women irrespective of their income, occupation or vocation. All sections of women in the age group 10 to 75 years are eligible for this scheme.

Premium is Rs.15/- per woman per annum for the basic cover and Rs23/- per woman per annum for both basic and additional cover.

Answer: (c)

The Reserve Bank of India (RBI) is India’s central banking institution, which controls the monetary policy of the Indian rupee. It was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of India Act, 1934.

Following India’s independence in 1947, the RBI was nationalised in the year 1949. Though originally set up as a shareholders’ bank, the RBI has been fully owned by the Government of India since its nationalization in 1949.

Answer: (c)

Postal Life Insurance was started on 01.02.1884 as a welfare measure for the employees of Posts & Telegraphs Department under Government of India dispatch No. 299 dated 18 October 1882 to the Secretary of State. Due to the popularity of its schemes, various departments of Central and State Governments were extended their benefits.

Now Postal Life Insurance is open for employees of all central and state government departments, nationalised banks, public sector undertakings, financial institutions, local municipalities and District councils and educational institutions aided by the Government.

Answer: (d)

Hedge funds invest in a diverse range of markets and use a wide variety of investment styles and financial instruments. Hedge funds are open only to certain types of investors in a country specified by the regulator and cannot be offered or sold to the general public.

Legally, hedge funds are most often set up as private investment partnerships that are open to a limited number of investors and require a very large initial minimum investment.