money supply, banking & financial institutions section 11 MCQ Questions & Answers Detailed Explanation
MOST IMPORTANT indian economy mcq - 12 EXERCISES
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The following question based on Money Supply, Banking and Financial Institutions topic of indian economy mcq
(a) Cash
(b) Both long and short term funds
(c) Short term fund
(d) Long term fund
The correct answers to the above question in:
Answer: (d)
Capital markets are financial markets for the buying and selling of long-term debt or equity-backed securities. These markets channel the wealth of savers to those who can put it to long-term productive use, such as companies or governments making longterm investments.
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Read more money and supply banking financial institutions Based Indian Economy Questions and Answers
Question : 1
Which of the following ministries/departments identify PSUs for “Strategic Disinvestment”?
a) NITI Aayog
b) Jointly by DIPAM and NITI Aayog
c) Department of Investment and Public Asset Management (DIPAM)
d) Inter-Ministerial body called ‘Alternative Mechanism’
Answer »Answer: (b)
Question : 2
Which of the following statements are correct regarding "Regional Rural Banks (RRBs)":
- They are regulated by RBI
- They are supervised by NABARD
a) only (ii)
b) Both (i) & (ii)
c) only (i)
d) Neither (i) nor (ii)
Answer »Answer: (b)
Regional Rural Banks (RRBs) are regulated by RBI and supervised by NABARD
Question : 3
Coins are minted in India at
a) Delhi, Kolkata and Hyderabad
b) Mumbai, Kolkata and Hyderabad
c) Mumbai, Delhi and Bengaluru
d) Delhi, Mumbai and Kolkata
Answer »Answer: (b)
Question : 4
Consider the following statements regarding cryptocurrencies in India:
- Trading of cryptocurrencies is banned in India
- Cryptocurrencies acquired value because they can be created only in a limited number
a) (ii) only
b) Both (i) & (ii)
c) (i) only
d) Neither (i) nor (ii)
Answer »Answer: (b)
Cryptocurrencies are not legal tender but as such, there is no blanket ban on trading in cryptocurrencies.
There is a draft bill "Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019", as per which holding, selling or dealing in cryptocurrencies such as Bitcoin could soon land you in jail for 10 years. But till now it is just in the draft stage and has not become an act.
Cryptocurrencies acquire value as they can be generated/mined only in limited numbers and if more and more people would like to hold/possess it, its value increases.
In a circular in April 2018, RBI had imposed a virtual ban on cryptocurrency trading in India and had directed all entities which fall under the purview of (regulated by) RBI to not deal in virtual currencies or provide services to those who want to deal in it.
In March 2020 the Supreme court has set aside (quashed) the order, allowing trade in digital assets.
Question : 5
With reference to the Non-banking Financial Companies (NBFCs) in India. Consider the following statements.
- They cannot engage in the acquisition of securities issued by the government.
- They cannot accept demand deposits like Saving Accounts.
a) Only 2
b) Neither 1 nor 2
c) Both 1 and 2
d) Only 1
Answer »Answer: (a)
Question : 6
Consider the following statements regarding currency circulation in India:
- Govt. of India has the sole right to mint coins
- The coins are issued for circulation only through RBI in terms of the RBI Act 1934
- Coins can be issued up to the denomination of Rs. 1000 as per the Coinage Act 1906
a) (i) & (ii) only
b) (iii) only
c) (i) only
d) All of the above
Answer »Answer: (d)
[The Government of India has the sole right to mint coins. The responsibility for coinage vests with the Government of India in terms of the Coinage Act, 1906.
The designing and minting of coins in various denominations is also the responsibility of the Government of India. Coins are minted at the India Government Mints at Mumbai, Alipore (Kolkata), Saifabad (Hyderabad), Cherlapally (Hyderabad) and NOIDA (UP).
The coins are issued for circulation only through the Reserve Bank in terms of the RBI Act. Coins can be issued up to the denomination of Rs.1000 as per the Coinage Act, 1906.
The RBI shall issue rupee coins on demand and the Govt. of India shall supply/mint such coins to the RBI on demand.
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