introduction to indian economy section 10 MCQ Questions & Answers Detailed Explanation

Question : 1

Regional Rural Banks are sponsored by

a) Government of India

b) Reserve Bank of India

c) State Bank of India

d) Nationalised Commercial Bank

Question : 2

Which from the following is not a Navaratna PSU ?

a) LIC

b) SAIL

c) IOC

d) ONGC

Question : 3

Consider the following statements:

1. Indian Clearing Corporation has been granted the status of Qualified Central Counterparty (QCCP) by RBI.
2. QCCP status means to adheres to the principles for Financial Market Infrastructure.

a) 1 and 2

b) 2 only

c) 1 only

d) None

Question : 4

Which of the following is the characteristic of progressive tax?

1. Marginal tax rate should be increasing.
2. Marginal tax rates should be more than average tax rate.

a) 2 only

b) Both 1 and 2

c) 1 only

d) Neither 1 nor 2

Question : 5

The Ministry of Corporate Affairs has notified the Corporate Social Responsibility (CSR) rules and they would come into effect from April 1. Under the new laws that govern companies, spending on CSR or social welfare activities is mandatory for certain classes of firms. They are required to shell out at least 2 per cent of their three-year average annual profit towards such works. Which of the following firms classify under the new law to make CSR spend?

1. Companies having a net worth of at least Rs. 750 crore
2. Companies having a minimum turnover of Rs. 500 crore
3. Companies with at least a net profit of RS. 5 crore

a) (i), (ii) & (iii)

b) Only (iii)

c) (i) & (ii)

d) (i) & (iii)

Question : 6

Distribution of food rains operates under a two tier system with the introduction of

a) The Service Cooperatives

b) The Consumers Cooperatives

c) The Cooperative Marketing Societies

d) Targetted Public Distribution System