introduction to indian economy section 8 Practice Questions Answers Test with Solutions & More Shortcuts
Introduction to Indian Economy PRACTICE TEST [14 - EXERCISES]
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Question : 6 [SSC SO 2003]
Which natioalised bank of India has a shining star as its emblem?
a) Bank of Baroda
b) Indian Bank
c) Bank of India
d) Syndicate Bank
Answer »Answer: (c)
The new logo of the Bank of Baroda is a unique representation of a universal symbol. It comprises dual ‘B’ letterforms that hold the rays of the rising sun.
It is known as the ‘Baroda Sun’ which is the single most powerful source of light and energy – its far-reaching rays dispel darkness to illuminate everything they touch.
With this logo, the Bank of Baroda seeks to be the source that will help all its stakeholders realise their goals. To customers, the bank seeks to be a one-stop, reliable partner who will help them address different financial needs.
To employees, the bank offers rewarding careers and to our investors and business partners, maximum return on their investment.
Question : 7 [SSC CPO 2008]
The Commission in India dealing with minimum support price, procurement price, etc in connection with agricultural goods is the
a) Agricultural Costs and Prices Commission
b) Planning Commission
c) Agricultural Price Commission
d) National Marketing Commission
Answer »Answer: (b)
The Commission for Agricultural Costs and Prices (CACP), the government’s nodal agency to recommend the minimum price for farm commodities.
The Agricultural Prices Commission was set up in January 1965 to advise the Government on the price policy of major agricultural commodities with a view to evolving a balance and integrated price structure in the perspective of the overall needs of the economy and with due regard to the interests of the producer and the consumer.
Since March 1985, the Commission has been known as Commission for Agricultural Costs and Prices
Question : 8 [SSC SO 2003]
The Government of India made it obligatory on the part of all commercial banks that they should give some cash amount while purchasing Government bonds. What would you call this?
a) Cash Reserve Ratio
b) Statutory Liquidity Ratio
c) Minimum Reserve Ratio
d) Floating Reserve Ratio
Answer »Answer: (b)
Statutory liquidity ratio is the number of liquid assets such as precious metals (Gold) or other approved securities, which a financial institution must maintain as reserves other than the cash. The statutory liquidity ratio is a term most commonly used in India.
The objectives of SLR are to restrict the expansion of bank credit. They serve to augment the investment of the banks in government securities and ensure the solvency of banks.
Question : 9 [SSC CPO 2007]
Kisan Credit Card scheme was introduced in
a) 2000
b) 1996
c) 1998
d) 1991
Answer »Answer: (c)
Kisan Credit Card Scheme (KCC) aims at providing adequate and timely support from the banking system to the farmers for their short-term credit needs for the cultivation of crops. This mainly helps farmers purchase inputs etc., during the cropping season.
The credit card scheme proposed to introduce flexibility to the system and improve cost efficiency. It was introduced in August 1998.
Question : 10 [SSC SO 2007]
India’s biggest nationalised enterprise today
a) the Indian Commercial Banking System
b) the Indian Railways
c) the Indian Power Sector
d) the Indian Telecommu-nication System
Answer »Answer: (b)
Indian Railway is an Indian state-owned enterprise, owned and operated by the government of India through the Ministry of Railways. Railways were first introduced to India in 1853 from Bombay to Thane.
In 1951 the systems were nationalized as one unit, the Indian Railways, becoming one of the largest networks in the world.
IR operates both long-distance and suburban rail systems on a multi-gauge network of broad, metre and narrow gauges.
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Introduction to Indian Economy Shortcuts »
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indian economy MCQ CATEGORIES
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» Introduction to Indian Economy
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» Planning, Economic Development & Five year Plans
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» National Income & Human Development Index
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» Agriculture Sector, Subsidy and Food Processing
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» Industries, Manufacturing & Service Sectors
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» Inclusive growth, Sustainable development and employment
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» Poverty & Unemployment
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» Introduction to Micro Economics
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» Introduction to Macro Economics
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» Macro fundamentals, GDP, Investment, Growth
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» Demand & Supply, Profit Loss, Inflation & Price Index
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» Fiscal Policy, Public Finance and Monetary Policy
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» Money Supply, Banking and Financial Institutions
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» Taxes Types, Methods & Budgeting Process
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» Banking, Security Market & Insurance
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