introduction to indian economy section 5 Practice Questions Answers Test with Solutions & More Shortcuts

Answer: (a)

Rashtriya Mahila Kosh (RMK) was set up in March 1993 to meet the credit needs of poor women, particularly in the informal sector, who have little or no access to formal credit institutions.

RMK extends microfinance to the poorest and asset fewer women entrepreneurs for income-generating activities.

Answer: (d)

Answer: (a)

In its report, McKinsey Global Institute (MGI) estimated that 680 million Indians, or 56 per cent of the population, lacks the means to meet their essential needs.

It proposed a new “empowerment line” that aims to measure the minimum economic cost for a household to fulfil the eight most basic needs.

Answer: (b)

Until recently, 18.28% of the company was owned by the Indian government, and 54.2% by Suzuki of Japan. The BJP-led government held an initial public offering of 25% of the company in June 2003.

As of 10 May 2007, the government of India sold its complete share to Indian financial institutions and no longer has any stake in Maruti Udyog.

Answer: (b)

The State Bank of India, the largest banking and financial services company in India by revenue, assets and market capitalization; traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent.

Bank of Madras merged into the other two presidency banks—Bank of Calcutta and Bank of Bombay—to form the Imperial Bank of India, which in turn became the State Bank of India.

The Government of India nationalized the Imperial Bank of India in 1955, with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India