money supply, banking & financial institutions section 3 MCQ Questions & Answers Detailed Explanation
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The following question based on Money Supply, Banking and Financial Institutions topic of indian economy mcq
(a) Banking regulation Act 1949
(b) Payment and Settlement Systems Act 2007
(c) RBI Act 1934
(d) Does not require any statutory backing
The correct answers to the above question in:
Answer: (c)
As per the RBI Act 1934, Section 26, "on the recommendation of the Central Board, the Central Government may, by notification in the Gazette of India, declare that, with effect from such date, any series of banknotes of any denomination shall cease to be legal tender".
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Question : 1
With reference to the governance of public sector banking in India, consider the following statements.
- Capital infusion into public sector banks by the Government of India has steadily increased in the last decade.
- To put the public sector banks in order, the merger of associate banks with the parent State Bank of India has been affected.
a) Only 2
b) Neither 1 nor 2
c) Both 1 and 2
d) Only 1
Answer »Answer: (c)
Question : 2
Consider the following statements regarding the recent amendments done in IBC 2016:
- It is applicable for corporate debtor and corporate guarantor
- New management is ringfenced from offences committed by the erstwhile management
a) (ii) only
b) Both (i) & (ii)
c) (i) only
d) Neither (i) nor (ii)
Answer »Answer: (b)
If a company has given a guarantee to another company, then the IBC will be applicable to that corporate guarantor also.
If the previous management did some offence/fraud then the new management taking over the company will be protected (also called ringfenced) from the crimes done by the previous management.
Question : 3
Convertibility of rupee implies:
a) allowing the value of rupee to be fixed by market forces
b) being able to convert rupee notes into gold
c) freely permitting the conversion of rupee to other currencies and vice versa
d) developing an international market for currencies in India
Answer »Answer: (c)
Convertibility of rupee implies freely permitting the conversion of rupee to other currencies and vice versa.
Currency Convertibility is the ease with which a country’s currency can be converted into gold or another currency.
Question : 4
The rate of tax increase as the amount of the tax base increases is called
a) Regressive tax
b) Degressive tax
c) Proportional tax
d) Progressive tax
Answer »Answer: (d)
A progressive tax is a tax in which the tax rate increases as the taxable amount increases.
The term “progressive” refers to the way the tax rate progresses from low to high, with the result that a taxpayer’s average tax rate is less than the person’s marginal tax rate.
Question : 5
A speculator who enters into a purchase transaction with a view to sell in the near future when the price would have risen is called a
a) Bison
b) Boar
c) Bear
d) Bull
Answer »Answer: (d)
Investors who take a bull approach purchase securities under the assumption that they can be sold later at a higher price.
A "bear" is considered to be the opposite of a bull. Bear investors believe that the value of a specific security or an industry is likely to decline in the future.
Question : 6
Bull and bear are related to which commercial activity ?
a) International trade
b) Stock market
c) Banking
d) E-commerce
Answer »Answer: (b)
Both the terms are related to the stock market. Investors who take a bull approach purchase securities under the assumption that they can be sold later at a higher price.
A “bear” is considered to be the opposite of a bull. Bear investors believe that the value of a specific security or an industry is likely to decline in the future.
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