money supply, banking & financial institutions section 4 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) freely permitting the conversion of rupee to other major currencies and vice-versa
(b) developing an international market of currencies in India
(c) allowing the value of the rupee to be fixed by market forces
(d) being able to convert rupee notes into gold
The correct answers to the above question in:
Answer: (a)
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Read more money and supply banking financial institutions Based Indian Economy Questions and Answers
Question : 1
An excise duty is a charge on which of the following?
a) Export of goods
b) Production or sale of goods
c) Production of goods
d) Consumption of good
Answer »Answer: (b)
Question : 2
Which category of banks have the highest share in agricultural credit:
a) Regional Rural banks
b) Cooperative Banks
c) Commercial Banks (excluding regional rural banks)
d) Non-Banking Financial Companies
Answer »Answer: (c)
Share of Commercial banks credit to agriculture sector is around 80%.
Question : 3
Indian Currency Printing Institutions are located in which of the following places?
- Nasik
- Hoshangabad
- Hyderabad
- Aurangabad
- Devas
a) 1, 2, 3 and 4
b) 1, 2 and 4
c) 1, 2, 3 and 5
d) All of the above
Answer »Answer: (c)
Question : 4
The Prevention of Money Laundering Act came into force in India during
a) 1999
b) 2005
c) 2001
d) 1998
Answer »Answer: (b)
Question : 5
Narsimhan Committee was related to which of following reforms?
a) Tax structure reforms
b) Planning implementation reforms
c) Banking structure reforms
d) High education reforms
Answer »Answer: (c)
Question : 6
Which of the following statements are true regarding the Insolvency and Bankruptcy Code 2016?
- The resolution plan should be approved by NCLT
- The resolution process must be completed within 330 days including litigation
a) (ii) only
b) Both (i) & (ii)
c) (i) only
d) Neither (i) nor (ii)
Answer »Answer: (c)
The resolution plan finalized by the Committee of Creditors must be approved by the NCLT (NCLT is the final approving authority). Supreme Court on 15th Nov 2019 ruled that the corporate insolvency resolution process can be extended beyond 330 days in case of exceptional cases.
But ordinarily, the time taken in relation to the resolution process must be completed within the outer limit of 330 days from the insolvency commencement date, including extensions and the time taken in legal proceedings.
Extension of time should be granted by NCLT/NCLAT, only in case of exceptional cases, if parties are able to prove there is very little time left in the resolution process and the delay has been caused by ‘tardy’ legal proceedings.
Timelines in IBC,
- In a normal case, the resolution process should be completed in 180 days
- In complex cases, the resolution process should be completed in 270 days
- Including litigation, the resolution process should be completed in 330 days
- In exceptional cases (tardy legal proceedings), the resolution process may go beyond 330 days
GET Money Supply, Banking and Financial Institutions PRACTICE TEST EXERCISES
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Money Supply, Banking and Financial Institutions Shortcuts and Techniques with Examples
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