money supply, banking & financial institutions section 6 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) There would be an increase in the demand for the American dollar and an appreciation of the currency.
(b) There would be an increase in the supply of the American dollar and an appreciation of the currency.
(c) There would be a decrease in the demand for the rupees (`) and a depreciation of the currency.
(d) There would be a decrease in the supply of the American dollar and a depreciation of the currency.
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
Which one of the following is not a feature of “Value Added Tax” ?
a) It is multi-point destination-based system of taxation.
b) It is a tax on the final consumption of goods or services and must ultimately be borne by the consumer.
c) It is a tax levied on value addition at each stage of transaction in the production distribution chain.
d) It is basically a subject of the central government and the state governments are only a facilitator for its successful implementation.
Answer »Answer: (d)
VAT is the State Subject.
Question : 2
Which among the following is true about “deficit financing”?
a) Public expenditure in excess of public revenue
b) New currency replaced by old currency
c) Public revenue in excess of public expenditure
d) None of above
Answer »Answer: (a)
Deficit financing, practice in which a government spends more money than it receives as revenue, the difference being made up by borrowing or minting new funds.
Although budget deficits may occur for numerous reasons, the term usually refers to a conscious attempt to stimulate the economy by lowering tax rates or increasing government expenditures. The influence of government deficits upon a national economy may be very great.
It is widely believed that a budget balanced over the span of a business cycle should replace the old ideal of an annually balanced budget. Some economists have abandoned the balanced budget concept entirely, considering it inadequate as a criterion of public policy.
Question : 3
Which among the following are the ‘Credit-Rating Agencies’ of India?
- CRISIL
- CARE
- ICRA
- ONICRA
a) 1, 2 and 3
b) 1 and 3
c) 1, 3 and 4
d) All of them
Answer »Answer: (d)
Question : 4
Consider the following statements. The price of any currency in international market is decided by the
- World Bank
- Demand for goods/services provided by the country concerned.
- Stability of the government of the concerned country.
- Economic potential of the country in question of these statements.
a) 2 and 3
b) 1 and 4
c) 3 and 4
d) 1, 2, 3 and 4
Answer »Answer: (a)
Question : 5
In India, the first bank of limited liability managed by Indians and founded in 1881 was
a) Oudh Commercial Bank
b) Punjab and Sind Bank
c) Punjab National Bank
d) Hindustan Commercial Bank
Answer »Answer: (a)
Question : 6
Which of the following statements are true regarding the SARFAESI Act 2002?
- It is applicable to banks and NBFCs both
- It allows selling of the security in case of secured lending
a) (ii) only
b) Both (i) & (ii)
c) (i) only
d) Neither (i) nor (ii)
Answer »Answer: (b)
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 was enacted to regulate securitisation and reconstruction of financial assets and enforcement of security interests.
The act allows banks and financial institutions to sell the security in case the debt/ loan is secured and it has become non-performing.
The provisions have enabled banks and financial institutions to improve recovery by exercising powers to take possession of securities (without moving to court), sell them and reduce nonperforming assets by adopting measures for recovery or reconstruction.
GET Money Supply, Banking and Financial Institutions PRACTICE TEST EXERCISES
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