WBCS MAIN 2019 P-5 Economics MCQ
WBCS MAIN 2019 P-5 Economics One Liner Questions
🏦 BANKING & RESERVE BANK OF INDIA
1. Which of the following is not a quantitative credit control tool of RBI? Ans: Margin requirements
2. __ is the regulator of mutual funds in India. Ans: SEBI
3. Fully automated screen based trading system NSE is known as? Ans: NEAT
4. __ is the venture capital assistance at the stage where the project started to fetch profit but not reached in its full efficiency. Ans: Mezzanine Capital
5. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act passed in which year? Ans: 2002
6. Which one of the following is an example of derivative? Ans: All of the above (Warrants, Swaptions, Baskets)
7. Which of the following are considered to be Stressed Assets of Banks? Ans: All of the above (NPAs, Restructured Loans, Written off Assets)
8. Consider the statements regarding Prompt Corrective Action Plan of RBI. Which are correct? Ans: (i), (ii) and (iii) – All are correct
9. Bank Rate is an instrument of? Ans: credit control
10. In which year was the Reserve Bank of India established? Ans: 1935
11. Which one of the following rates is not determined by the Reserve Bank of India? Ans: Prime Lending Rate
12. 1st Governor of RBI is? Ans: Osborne Smith
13. EXIM Bank was set up in? Ans: January 1, 1982
14. Variation in margin requirements is what type of credit control? Ans: Qualitative credit control
15. In case RBI wants to make it more expensive for the banks to borrow money it? Ans: increases the repo rate
16. There are three main treasury bills in India. Which are they? Ans: 91 day, 182 day and 364 day
17. An instant real-time inter-bank electronic funds transfer system, which offers an inter-bank electronic fund transfer service through mobile phones known as? Ans: IMPS
18. An investment plan in which the Company pays return to investors from the new capital coming in from new investors instead of the profits of the business known as? Ans: Ponzi scheme
19. Magnetic Ink Character Recognition (MICR) code is a how many digit code? Ans: 9 digit code
20. Securities and Exchange Board of India (SEBI) was given statutory status and powers through an ordinance promulgated on? Ans: January 30, 1992
21. The illegal practice of trading on the stock exchange to one’s own advantage through having access to confidential information is known as? Ans: Insider trading
22. Since April 2014 the Reserve Bank of India has adopted the new measure of inflation which is known as? Ans: Consumer Price Index
23. Money policy increases the inflation rate is known as? Ans: Cheap money policy
24. The instruments issued by registered FIIs to overseas investors, who wish to invest in Indian stock markets without registering themselves with SEBI – known as? Ans: Participatory notes (P-notes)
25. The chief promoter of National Securities Depository Limited (NSDL) is? Ans: NSE
26. The corpus of funds and its duration is fixed in case of _ fund. Ans: Close ended
27. On which bank the RBI has slapped Rs. 1 crore penalty for not monitoring the end use of funds in respect of one of its borrowers? Ans: Allahabad Bank
28. The RBI has announced that it will transfer an interim surplus of INR _ to the Central Government for the half year ended 31st December 2018. Ans: Rs. 28,000 crore
29. The RBI raised the limit of collateral free agricultural loans to Rs. 1.6 lakh from the current _ with a view to help small and marginal farmers. Ans: Rs. 1 lakh
30. Indian Banking Association has issued advisory requesting banks to waive off the processing, documentation, inspection and all other service charges for Kisan Credit Card and crop loans up to INR? Ans: Rs. 3 lakh
31. The RBI has said that PPI users will have no liability if they report fraud within three days. Hence the term PPI stands for? Ans: Prepaid Payment Instruments
32. The RBI has allowed the Small Industries Development Bank of India (SIDBI) to use an existing Rs. 1000 Cr. corpus for lending to? Ans: Microfinance Institutions
33. The RBI has recently imposed a penalty of Rs. 1 crore on _ for non-compliance of its directives. Ans: Allahabad Bank
34. State Bank of India has reported a net profit of _ for the quarter ended March, 2019. Ans: Rs. 838 crore
35. A loan offered by a group of lenders who work together to provide funds for a single borrower is called? Ans: Syndicate Loan
36. Andhra Bank has announced to deploy over 1600 BCs to boost financial and non-financial transactions. Here the term BC stands for? Ans: Business Correspondents
37. The RBI has set up an expert committee to suggest long term solutions for the economic and financial sustainability of the MSME sector. The committee is headed by? Ans: UK Sinha
38. Financial Inclusion as per RBI means? Ans: All of the above
39. RBI uses reverse repo to absorb liquidity. The statement is? Ans: True
💰 FISCAL POLICY & PUBLIC FINANCE
40. India’s fiscal deficit has touched _ of the FY 19 Budget target of Rs. 6.24 lakh crore during the period of 9 months from April to December 2018. Ans: 112%
41. The govt. collected what amount as GST in Dec 2018? Ans: Rs. 94,726 Cr.
42. At the presentation of the Annual Financial Statement before Parliament, a Finance Bill is also presented in fulfilment of the requirement of Article _ of the Constitution. Ans: Article 110(1)(a)
📊 FIVE YEAR PLANS & INDIAN ECONOMY
43. ‘Planned Economy for India’ – The book was written by? Ans: Sir M. Visvesvaraya
44. Planning Commission has been scrapped on? Ans: August 13, 2014
45. The now defunct Planning Commission was set up on? Ans: March 15, 1950
46. The aim of the Third Five Year Plan (1961-66) was? Ans: growth with stability and progress towards self-reliance
47. According to the data released by the Central Statistics Office (CSO), the Indian economy is likely to grow at what per cent in the financial year (2018-19)? Ans: 7.2 per cent
48. In the composition of National Income in India the contribution of the _ is the highest. Ans: Service Sector
🌾 AGRICULTURE & RURAL DEVELOPMENT
49. In Pradhan Mantri Fasal Bima Yojana (PMFBY), the timeline of how many months is set for settlement of claims by insurance companies after the completion of crop cutting experiments/harvesting period? Ans: Three
50. The Green Revolution in agriculture has made the Indian farmers dependent on? Ans: Fertilizers and Pesticides
51. NABARD is associated with? Ans: rural development
52. Area of Black Revolution? Ans: Petroleum production
53. MSMEs Development Act, 2006 defines Medium Service Sector as? Ans: above Rs. 5 crore to Rs. 10 crore
54. Which of the following private sector banks has announced a “blended finance facility” to rescue salt farmers of Rann of Kutch (Gujarat)? Ans: YES Bank
📈 ECONOMIC REFORMS & LIBERALIZATION
55. The Govt. has decided to provide what per cent interest subsidy to merchant exporters, entailing an expenditure of Rs. 600 cr? Ans: 3 per cent
56. Industrial sickness due to the managerial incompetence and wrong policies pursued deliberately for want of genuine stake is known as? Ans: Induced sickness
57. Devaluation of currency leads to? Ans: Increase in domestic price
58. What is FEMA? Ans: Foreign Exchange Management Act
👥 POVERTY & SOCIAL SECTOR
59. Who is the author of the book ‘Poverty and Un-British Rule in India’? Ans: Dadabhai Naoroji
60. Which one of the following was launched with the objective of helping the poor in rural areas to become self employed through training? Ans: TRYSEM
🏛️ GOVERNMENT SCHEMES & INITIATIVES
61. According to the World Economic Forum’s (WEF) report titled ‘Future of Consumption in Fast-Growth Consumer Market-India’, what will be India’s ranking as the world’s largest consumer market by 2030? Ans: Third
62. Which of the following is one of the states which has topped NITI Aayog’s Index of Indian States’ performance on various UN Sustainable Development Goals (SDGs)? Ans: Kerala
63. Which authority is entrusted with the task of overseeing implementation of Sustainable Development Goals in India? Ans: NITI Aayog
64. Consider the statements about Economic Advisory Council to the Prime Minister. Which is correct? Ans: (ii) only
65. It is an urban renewal and retrofitting program with a mission to develop 100 cities all over the country making them citizen friendly and sustainable. What is it? Ans: Smart City Mission
66. Aims to achieve an Open-Defecation Free (ODF) India by October 2, 2019. It is? Ans: Swachh Bharat Abhijan
67. The Gold Monetization Scheme introduced by the Government of India in? Ans: 2015
68. Find the odd one out: India’s Top Imports include? Ans: Oil
69. Find the odd one out: Direct Taxes are? Ans: Goods and Services Tax (GST)
70. The scheme encourages parents to build a fund for the future education and marriage expenses for their female child, backed by Government of India. The scheme is? Ans: Sukanya Samriddhi Yojana
71. Pradhan Mantri Ujjwala Yojana was launched in? Ans: 2016
72. What is the name of the mega pension scheme announced in Interim Budget 2019 under which Rs. 3,000 per month pension for 10 crore unorganised sector workers has been proposed? Ans: Pradhan Mantri Shram Yogi Maandhan
73. Rythu Bandhu Scheme is implemented in which State? Ans: Telangana
74. Which State has announced new temporary cow shelters in the urban and rural areas and imposition of a cess on excise duty for the same? Ans: Haryana
75. Which State has emerged on top of Asia Competitiveness Institute (ACI), Singapore’s 2018 Ease of Doing Business Index? Ans: Andhra Pradesh
76. Which State Govt. recently announced two welfare initiatives for farmers as part of the ‘Krishi Krishak Bondhu’ Scheme? Ans: West Bengal
77. Housing for All by 2022, what is that scheme? Ans: AMRUT
💹 NATIONAL INCOME
78. GNP = GDP + X – M where M means? Ans: income received by foreign nationals from within the country
79. GDP(at market price) – NIT = ? Ans: NDP (at market price)
80. Which of the following items does not come under National Income measurement? Ans: Receipt from second hand sale of an automobile
🌏 FOREIGN TRADE & EXCHANGE
81. Find the odd one: India’s major import partners are? Ans: UK
82. Which among the following will be a debit entry in India’s balance of payments? Ans: Imports of goods by India
83. Indian Foreign Exchange Reserves comprises of? Ans: All of the above
84. A currency with a value that fluctuates as a result of the country’s political or economic uncertainty is known as? Ans: Soft Currency
📉 INFLATION
85. A condition of slow economic growth and relatively high unemployment—economic stagnation—accompanied by rising prices is known as? Ans: Stagflation
🏢 PUBLIC SECTOR ENTERPRISES
86. Find the odd one in the list of Navaratnas (IT): Ans: National Thermal Power Corporation (NTPC)
📚 BOOKS & AUTHORS
87. The book ‘Changing India’ has been penned by who among the followings? Ans: Pranab Mukherjee
🏆 AWARDS & RECOGNITIONS
88. Who among the following Indian-Americans has been selected for the prestigious ‘Great Immigrant, Great American’ award? Ans: Shantanu Narayen
🕯️ OBITUARIES
89. The man’s unique feet: unveiling e-Choupal with an aim to change India’s rural economy by empowering farmers. He died on May 11, 2019. Who is he? Ans: Yogesh Chander Deveshwar (YCD)
🌍 INTERNATIONAL RELATIONS
90. The Govt. has exempted rupee payments made to the oil company NIOC towards the purchase of crude oil from payment of any tax. NIOC belongs to? Ans: Iran
91. Dutch firms are ready to help in setting up port facilities (Logistic Hub) at _ in West Bengal. Ans: Tajpur and Kulpi
92. The Government of India is amending a clause of the 1991 Treaty of Trade and Transit to explore water routes. Name the other country. Ans: Nepal
93. Which country asked the RBI to declare Indian currency notes of denominations higher than Rs. 100 legal tender in that country? Ans: Nepal
🏦 STATE GOVERNMENTS & SCHEMES
94. Which State Govt. has announced interest free loans of up to three lakh rupees for women self-help group (WSHGs) in the state? Ans: Chhattisgarh
🏭 INFRASTRUCTURE & INVESTMENT
95. Maharatna Oil PSU Indian Oil will invest over _ in West Bengal in the next two years. Ans: Rs. 1300 crore
96. The public sector banks in India have the largest number of branches in which of the following countries? Ans: UK
📅 NITI AAYOG
97. The first meeting of the Governing Council of the NITI Aayog was held in? Ans: 2015
98. At the NITI Aayog meeting of CMs on 15th June 2019 the P.M said that the goal of making India a _ economy by 2024 was challenging but achievable. Ans: $5 trillion
🖥️ DIGITAL INITIATIVES
99. It aims to fast track taxpayer’s grievance redressal, ensuring early resolution by integrating all the online and physical grievances received by the department and keeping track of it until it reaches its logical conclusion. What is it? Ans: e-Nivaran
🔍 MISCELLANEOUS
100. Who among the following was recently declared ‘fugitive economic offender’ by a Mumbai Court? Ans: Vijay Mallya
WBCS MAIN 2019 P-5 Economics MCQ
WBCS MAIN 2019 PAPER V (ECONOMICS) – MCQ
1. Which of the following is not a quantitative credit control tool of RBI?
(A) Bank Rate
(B) Margin requirements
(C) SLR
(D) Open market operation
Ans: (B) Margin requirements
2. __ is the regulator of mutual funds in India.
(A) RBI
(B) SEBI
(C) Both SEBI and GOI
(D) IRDA
Ans: (B) SEBI
3. Fully automated screen based trading system NSE is known as
(A) BOLT
(B) NEAT
(C) ALBM
(D) BLISS
Ans: (B) NEAT
4. __ is the venture capital assistance at the stage where the project started to fetch profit but not reached in its full efficiency.
(A) Start up Capital
(B) Bridge Capital
(C) Mezzanine Capital
(D) Seed Capital
Ans: (C) Mezzanine Capital
5. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act passed in the year
(A) 1992
(B) 2005
(C) 2002
(D) 2000
Ans: (C) 2002
6. Which one of the following is an example of derivative?
(A) Warrants
(B) Swaptions
(C) Baskets
(D) All of the above
Ans: (D) All of the above
7. In Pradhan Mantri Fasal Bima Yojana (PMFBY), the timeline of how many months is set for settlement of claims by insurance companies after the completion of crop cutting experiments/harvesting period?
(A) One
(B) Two
(C) Three
(D) Four
Ans: (C) Three
8. According to the data released by the Central Statistics Office (CSO), the Indian economy is likely to grow at what per cent in the financial year (2018-19)?
(A) 6.7 per cent
(B) 6.9 per cent
(C) 7.2 per cent
(D) 7.4 per cent
Ans: (C) 7.2 per cent
9. According to the World Economic Forum’s (WEF) report titled ‘Future of Consumption in Fast-Growth Consumer Market-India’, what will be India’s ranking as the world’s largest consumer market by 2030?
(A) Second
(B) Third
(C) Fourth
(D) Fifth
Ans: (B) Third
10. Which of the following is one of the states which has topped NITI Aayog’s Index of Indian States’ performance on various UN Sustainable Development Goals (SDGs)?
(A) Karnataka
(B) Gujarat
(C) Maharashtra
(D) Kerala
Ans: (D) Kerala
11. The Govt. has decided to provide what per cent interest subsidy to merchant exporters, entailing an expenditure of Rs. 600 cr?
(A) 2 per cent
(B) 3 per cent
(C) 4 per cent
(D) 5 per cent
Ans: (B) 3 per cent
12. Which of the following are considered to be Stressed Assets of Banks?
(A) NPAs
(B) Restructured Loans
(C) Written off Assets
(D) All of the above
Ans: (D) All of the above
13. Which authority is entrusted with the task of overseeing implementation of Sustainable Development Goals in India?
(A) NITI Aayog
(B) PMO
(C) Cabinet
(D) None of the above
Ans: (A) NITI Aayog
14. Consider the following statements regarding Prompt Corrective Action Plan of RBI:
(i) PCA norms permit RBI to put in place certain restrictions such as halting branch expansion and stopping dividend payment etc.
(ii) The norms are also capable of even capping a bank’s lending limit to one entity or sector.
(iii) Under PCA, the RBI is also capable of superseding the bank’s board.
Select the correct answer:
(A) (i) and (ii) only
(B) (i) and (iii) only
(C) (ii) and (iii) only
(D) (i), (ii) and (iii)
Ans: (D) (i), (ii) and (iii)
15. Consider the following statements:
(i) Economic Advisory Council to the Prime Minister is a non-constitutional, permanent and independent body.
(ii) It advises the Prime Minister on whole heart of economic issues like inflation, microfinance, industrial output etc.
Which of the above statement(s) is/are correct?
(A) (i) only
(B) (ii) only
(C) Both (i) and (ii)
(D) None of the above
Ans: (B) (ii) only
16. The Green Revolution in agriculture has made the Indian farmers dependent on
(A) Machines
(B) Fertilizers and Pesticides
(C) Indigenous
(D) Availability of Micro-nutrients
Ans: (B) Fertilizers and Pesticides
17. NABARD is associated with
(A) industrial development
(B) urban development
(C) rural development
(D) development of railways
Ans: (C) rural development
18. Bank Rate is an instrument of
(A) credit control
(B) reducing fiscal deficit
(C) reducing deficit financing
(D) increasing tax revenue
Ans: (A) credit control
19. In which year was the Reserve Bank of India established?
(A) 1935
(B) 1940
(C) 1947
(D) 1949
Ans: (A) 1935
20. Which one of the following rates is not determined by the Reserve Bank of India?
(A) CRR
(B) SLR
(C) Repo Rate
(D) Prime Lending Rate
Ans: (D) Prime Lending Rate
21. ‘Planned Economy for India’ – The book was written by
(A) Sir M. Visvesvaraya
(B) J.L. Nehru
(C) S.N. Agarwal
(D) M.N. Roy
Ans: (A) Sir M. Visvesvaraya
22. Planning Commission has been scrapped on
(A) January 1, 2015
(B) August 13, 2014
(C) January 22, 2015
(D) July 2, 2015
Ans: (B) August 13, 2014
23. The now defunct Planning Commission was set up on
(A) March 15, 1950
(B) August 6, 1952
(C) September 1, 1951
(D) None of the above
Ans: (A) March 15, 1950
24. The aim of the Third Five Year Plan (1961-66) was
(A) rapid industrialisation.
(B) growth with stability and progress towards self-reliance.
(C) self reliant and self-generating economy.
(D) removal of poverty and attainment of self-reliance.
Ans: (B) growth with stability and progress towards self-reliance.
25. It is an urban renewal and retrofitting program with a mission to develop 100 cities all over the country making them citizen friendly and sustainable. What is it?
(A) Start up India
(B) Skill India
(C) Swachh Bharat Abhijan
(D) Smart City Mission
Ans: (D) Smart City Mission
26. Aims to achieve an Open-Defecation Free (ODF) India by October 2, 2019. It is –
(A) Ujala Yojana
(B) P. M. Mudra Loan Bank Yojana
(C) Swachh Bharat Abhijan
(D) Deen Dayal Upadhyaya Gram Jyoti Yojana
Ans: (C) Swachh Bharat Abhijan
27. GNP = GDP + X – M where M means
(A) income earned and received by nationals within the boundaries of foreign countries.
(B) income received by foreign nationals from within the country.
(C) volume of commodities and services produced during the accounting year.
(D) indirect taxes and subsidies.
Ans: (B) income received by foreign nationals from within the country.
28. GDP(at market price) – NIT = ?
(A) NNP (at market price)
(B) GNP (at factor cost)
(C) NDP (at market price)
(D) NNP (at factor cost)
Ans: (C) NDP (at market price)
29. Who is the author of the book ‘Poverty and Un-British Rule in India’?
(A) Dadabhai Naoroji
(B) Amartya Sen
(C) Pranab Mukherjee
(D) Amit Mitra
Ans: (A) Dadabhai Naoroji
30. Area of Black Revolution:
(A) Oil seeds
(B) Fish
(C) Cotton
(D) Petroleum production
Ans: (D) Petroleum production
31. MSMEs Development Act, 2006 defines Medium Service Sector
(A) above Rs. 2 crore to Rs. 5 crore.
(B) above Rs. 5 crore to Rs. 10 crore.
(C) up to Rs. 25 lakh.
(D) above Rs. 10 lakh to Rs. 2 crore.
Ans: (B) above Rs. 5 crore to Rs. 10 crore.
32. Find the odd one in the list of Navaratnas (IT):
(A) Bharat Electronics Limited (BEL)
(B) Rashtriya Ispat Nigam Limited (RINL)
(C) National Thermal Power Corporation (NTPC)
(D) Hindustan Aeronautics Limited (HAL)
Ans: (C) National Thermal Power Corporation (NTPC)
33. Industrial sickness due to the managerial incompetence and wrong policies pursued deliberately for want of genuine stake is known as
(A) Genuine sickness
(B) Incipient sickness
(C) Induced sickness
(D) None of the above
Ans: (C) Induced sickness
34. 1st Governor of RBI is
(A) Osborne Smith
(B) C.D. Deshmukh
(C) Raghu Ram Rajan
(D) Urjit Patel
Ans: (A) Osborne Smith
35. EXIM Bank was set up
(A) January 1, 1982
(B) April 15, 1980
(C) September, 1993
(D) October, 1975
Ans: (A) January 1, 1982
36. Variation in margin requirements
(A) Quantitative credit control
(B) Qualitative credit control
(C) Both (A) and (B)
(D) None of the above
Ans: (B) Qualitative credit control
37. In case RBI wants to make it more expensive for the banks to borrow money it
(A) increases the repo rate
(B) reduces the repo rate
(C) increases in the reverse repo rate
(D) decreases reverse repo rate
Ans: (A) increases the repo rate
38. There are three main treasury bills in India
(A) 91 day, 182 day and 364 day
(B) 92 day, 183 day and 365 day
(C) 93 day, 184 day and 366 day
(D) None of the above
Ans: (A) 91 day, 182 day and 364 day
39. An instant real-time inter-bank electronic funds transfer system, which offers an inter-bank electronic fund transfer service through mobile phones known as
(A) RTGS
(B) NEFT
(C) IMPS
(D) UPI
Ans: (C) IMPS
40. An investment plan in which the Company pays return to investors from the new capital coming in from new investors instead of the profits of the business known as
(A) Underwriting
(B) Ponzi scheme
(C) Mutual fund
(D) Para Banking
Ans: (B) Ponzi scheme
41. Magnetic Ink Character Recognition (MICR) code is a
(A) 7 digit code
(B) 8 digit code
(C) 9 digit code
(D) 10 digit code
Ans: (C) 9 digit code
42. Securities and Exchange Board of India (SEBI) was given statutory status and powers through an ordinance promulgated on
(A) January 30, 1992
(B) April 12, 1988
(C) April 10, 1992
(D) April 19, 2000
Ans: (A) January 30, 1992
43. The illegal practice of trading on the stock exchange to one’s own advantage through having access to confidential information is known as
(A) Bull market
(B) Bear market
(C) Insider trading
(D) Initial Public Offering (IPO)
Ans: (C) Insider trading
44. Withdrawal of currency from circulation to ambush black market specially Rs. 500 and Rs. 1000 banknotes were demonetized, although Rs. 500 note was demonetized on
(A) January, 1946
(B) January, 1978
(C) November, 2016
(D) None of the above
Ans: (B) January, 1978
45. A currency with a value that fluctuates as a result of the country’s political or economic uncertainty is known as
(A) Hard Currency
(B) Soft Currency
(C) Both (A) and (B)
(D) None of the above
Ans: (B) Soft Currency
46. A condition of slow economic growth and relatively high unemployment—economic stagnation—accompanied by rising prices is known as
(A) Stagflation
(B) Hyper-inflation
(C) Demand-pull inflation
(D) Cost push inflation
Ans: (A) Stagflation
47. Since April 2014 the Reserve Bank of India has adopted the new measure of inflation which is known as
(A) Consumer Price Index
(B) New Consumer Price Index
(C) Wholesale Price Index
(D) None of the above
Ans: (A) Consumer Price Index
48. The Gold Monetization Scheme introduced by the Government of India in
(A) 2015
(B) 2016
(C) 2017
(D) 2018
Ans: (A) 2015
49. Money policy increases the inflation rate is known as
(A) Cheap money policy
(B) Dear money policy
(C) Hot money
(D) Fiat money
Ans: (A) Cheap money policy
50. The instruments issued by registered FIIs to overseas investors, who wish to invest in Indian stock markets without registering themselves with SEBI – known as
(A) Certificates of Deposit (CDs)
(B) Participatory notes (P-notes)
(C) Currency Derivatives
(D) Foreign exchange reserves
Ans: (B) Participatory notes (P-notes)
51. Find the odd one out: India’s Top Imports include
(A) Gems
(B) Precious Metals
(C) Oil
(D) Diamond
Ans: (C) Oil
52. Find the odd one out: Direct Taxes are
(A) Income Tax
(B) Capital gains Tax
(C) Securities Transaction Tax (STT)
(D) Goods and Services Tax (GST)
Ans: (D) Goods and Services Tax (GST)
53. The scheme encourages parents to build a fund for the future education and marriage expenses for their female child, backed by Government of India. The scheme is
(A) Sukanya Samriddhi Yojana
(B) Beti Bachao, Beti Padhao
(C) Atal Pension Yojana
(D) P.M. Jan Suraksha Yojana
Ans: (A) Sukanya Samriddhi Yojana
54. Pradhan Mantri Ujjwala Yojana was launched in
(A) 2014
(B) 2015
(C) 2016
(D) 2017
Ans: (C) 2016
55. The chief promoter of National Securities Depository Limited (NSDL) is
(A) NABARD
(B) NSCCL
(C) NSE
(D) BSE
Ans: (C) NSE
56. The corpus of funds and its duration is fixed in case of _ fund.
(A) Open ended
(B) Close ended
(C) Balanced
(D) Income
Ans: (B) Close ended
57. On which bank the RBI has slapped Rs. 1 crore penalty for not monitoring the end use of funds in respect of one of its borrowers?
(A) Bank of Baroda
(B) PNB
(C) SBI
(D) Allahabad Bank
Ans: (D) Allahabad Bank
58. The RBI has announced that it will transfer an interim surplus of INR _ to the Central Government for the half year ended 31st December 2018.
(A) Rs. 28,000 crore
(B) Rs. 20,000 crore
(C) Rs. 30,000 crore
(D) Rs. 25,000 crore
Ans: (A) Rs. 28,000 crore
59. The RBI raised the limit of collateral free agricultural loans to Rs. 1.6 lakh from the current _ with a view to help small and marginal farmers.
(A) Rs. 50,000
(B) Rs. 1 lakh
(C) Rs. 1.5 lakh
(D) Rs. 80,000
Ans: (B) Rs. 1 lakh
60. Indian Banking Association has issued advisory requesting banks to waive off the processing, documentation, inspection and all other service charges for Kisan Credit Card and crop loans up to INR
(A) Rs. 2 lakh
(B) Rs. 3 lakh
(C) Rs. 4 lakh
(D) Rs. 4.50 lakh
Ans: (B) Rs. 3 lakh
61. India’s fiscal deficit has touched _ of the FY 19 Budget target of Rs. 6.24 lakh crore during the period of 9 months from April to December 2018.
(A) 90%
(B) 100%
(C) 112%
(D) 115%
Ans: (C) 112%
62. What is the name of the mega pension scheme announced in Interim Budget 2019 under which Rs. 3,000 per month pension for 10 crore unorganised sector workers has been proposed for contribution of Rs. 100/55 per month?
(A) Pradhan Mantri Shram Yogi Maandhan
(B) PM-Kisan Samman
(C) PM Jan Suraksha Bima Yojana
(D) Sukanya Samriddhi Yojana
Ans: (A) Pradhan Mantri Shram Yogi Maandhan
63. Which State Govt. has announced interest free loans of up to three lakh rupees for women self-help group (WSHGs) in the state?
(A) West Bengal
(B) Rajasthan
(C) Chhattisgarh
(D) Odisha
Ans: (C) Chhattisgarh
64. The public sector banks in India have the largest number of branches in which of the following countries?
(A) Singapore
(B) UAE
(C) UK
(D) Hong Kong
Ans: (C) UK
65. Rythu Bandhu Scheme is implemented in which State? The state govt. provides an income support of Rs. 4000 per acre per season to farmers under the scheme:
(A) Odisha
(B) Assam
(C) Telangana
(D) Kerala
Ans: (C) Telangana
66. Which State has announced new temporary cow shelters in the urban and rural areas and imposition of a cess on excise duty for the same?
(A) Madhya Pradesh
(B) Rajasthan
(C) Uttar Pradesh
(D) Haryana
Ans: (D) Haryana
67. Which State has emerged on top of Asia Competitiveness Institute (ACI), Singapore’s 2018 Ease of Doing Business Index?
(A) Rajasthan
(B) Gujarat
(C) Delhi
(D) Andhra Pradesh
Ans: (D) Andhra Pradesh
68. The RBI has said that PPI users will have no liability if they report fraud within three days. Hence the term PPI stands for
(A) Postpaid Payment Instruments
(B) Permitted Payment Instruments
(C) Primary Payment Instruments
(D) Prepaid Payment Instruments
Ans: (D) Prepaid Payment Instruments
69. The govt. collected what amount as GST in Dec 2018?
(A) Rs. 92,726 Cr.
(B) Rs. 94,726 Cr.
(C) Rs. 95,726 Cr.
(D) Rs. 96,726 Cr.
Ans: (B) Rs. 94,726 Cr.
70. Which State Govt. recently announced two welfare initiatives for farmers as part of the ‘Krishi Krishak Bondhu’ Scheme?
(A) Odisha
(B) West Bengal
(C) UP
(D) Bihar
Ans: (B) West Bengal
71. Who among the following was recently declared ‘fugitive economic offender’ by a Mumbai Court?
(A) Nirav Modi
(B) Lalit Modi
(C) Subrata Roy
(D) Vijay Mallya
Ans: (D) Vijay Mallya
72. Which country asked the RBI to declare Indian currency notes of denominations higher than Rs. 100 legal tender in that country?
(A) Maldives
(B) Nepal
(C) Bhutan
(D) Myanmar
Ans: (B) Nepal
73. The RBI has allowed the Small Industries Development Bank of India (SIDBI) to use an existing Rs. 1000 Cr. corpus for lending to
(A) Microfinance Institutions
(B) Students
(C) Payment Banks
(D) Farmers
Ans: (A) Microfinance Institutions
74. The book ‘Changing India’ has been penned by who among the followings?
(A) Pranab Mukherjee
(B) Amit Shah
(C) Raghu Ram Rajan
(D) Manmohan Singh
Ans: (A) Pranab Mukherjee
75. Who among the following Indian-Americans has been selected for the prestigious ‘Great Immigrant, Great American’ award?
(A) Sundar Pichai
(B) Satya Nadella
(C) Shantanu Narayen
(D) Indra Nooyi
Ans: (C) Shantanu Narayen
76. The RBI has recently imposed a penalty of Rs. 1 crore on _ for non-compliance of its directives.
(A) Bank of India
(B) Corporation Bank
(C) Central Bank of India
(D) Allahabad Bank
Ans: (D) Allahabad Bank
77. The first meeting of the Governing Council of the NITI Aayog was held in
(A) 2014
(B) 2015
(C) 2016
(D) 2017
Ans: (B) 2015
78. Find the odd one: India’s major import partners are
(A) China
(B) The US
(C) The UAE
(D) UK
Ans: (D) UK
79. Maharatna Oil PSU Indian Oil will invest over _ in West Bengal in the next two years.
(A) Rs. 1300 crore
(B) Rs. 1200 crore
(C) Rs. 1100 crore
(D) Rs. 1000 crore
Ans: (A) Rs. 1300 crore
80. Dutch firms are ready to help in setting up port facilities (Logistic Hub) at _ in West Bengal.
(A) Calcutta Port
(B) Haldia Port
(C) Tajpur and Kulpi
(D) All of the above
Ans: (C) Tajpur and Kulpi
81. The Government of India is amending a clause of the 1991 Treaty of Trade and Transit to explore water routes. Name the other country.
(A) Bhutan
(B) Sri Lanka
(C) Maldives
(D) Nepal
Ans: (D) Nepal
82. At the NITI Aayog meeting of CMs on 15th June 2019 the P.M said that the goal of making India a _ economy by 2024 was challenging but achievable.
(A) $3 trillion
(B) $4 trillion
(C) $5 trillion
(D) $6 trillion
Ans: (C) $5 trillion
83. State Bank of India has reported a net profit of _ for the quarter ended March, 2019.
(A) Rs. 838 crore
(B) Rs. 738 crore
(C) Rs. 638 crore
(D) Rs. 538 crore
Ans: (A) Rs. 838 crore
84. The man’s unique feet: unveiling e-Choupal with an aim to change India’s rural economy by empowering farmers. He died on May 11, 2019. Who is he?
(A) Yogesh Chander Deveshwar (YCD)
(B) Meera Sanyal
(C) Masazo Nonaka
(D) Atal Behari Vajpayee
Ans: (A) Yogesh Chander Deveshwar (YCD)
85. The Govt. has exempted rupee payments made to the oil company NIOC towards the purchase of crude oil from payment of any tax. NIOC belongs to
(A) Saudi Arabia
(B) Venezuela
(C) Cambodia
(D) Iran
Ans: (D) Iran
86. Which of the following private sector banks has announced a “blended finance facility” to rescue salt farmers of Rann of Kutch (Gujarat)?
(A) HDFC Bank
(B) ICICI Bank
(C) YES Bank
(D) AXIS Bank
Ans: (C) YES Bank
87. A loan offered by a group of lenders who work together to provide funds for a single borrower is called
(A) Bridge Loan
(B) Assignment
(C) Overdraft
(D) Syndicate Loan
Ans: (D) Syndicate Loan
88. Andhra Bank has announced to deploy over 1600 BCs to boost financial and non-financial transactions. Here the term BC stands for
(A) Branch Correspondents
(B) Bank Centres
(C) Business Correspondents
(D) Business Centres
Ans: (C) Business Correspondents
89. The RBI has set up an expert committee to suggest long term solutions for the economic and financial sustainability of the MSME sector. The committee is headed by
(A) UK Sinha
(B) Chitra Ramkrishna
(C) DR Mehta
(D) Arundhati Bhattacharya
Ans: (A) UK Sinha
90. Financial Inclusion as per RBI means:
(A) Greater Consumer Protection for newly included customers.
(B) An easily accessed and speedy grievance redressal process.
(C) Expanded efforts on financial literacy.
(D) All of the above
Ans: (D) All of the above
91. Indian Foreign Exchange Reserves comprises of
(A) Gold & SDR
(B) Reserve Tranche Position (RTP) in the IMF
(C) Foreign Currency Asset (FCA)
(D) All of the above
Ans: (D) All of the above
92. RBI uses reverse repo to absorb liquidity. The statement is
(A) True
(B) False
(C) Partly True
(D) Does not apply
Ans: (A) True
93. Which among the following will be a debit entry in India’s balance of payments?
(A) Imports of goods by India
(B) Income of Indian investments abroad
(C) Receipts of transfer payments
(D) Exports of services by India
Ans: (A) Imports of goods by India
94. In the composition of National Income in India the contribution of the _ is the highest.
(A) Primary Sector
(B) Secondary Sector
(C) Service Sector
(D) Social Sector
Ans: (C) Service Sector
95. Devaluation of currency leads to:
(A) Fall in domestic price
(B) Increase in domestic price
(C) Can’t be predicted
(D) None of the above
Ans: (B) Increase in domestic price
96. What is FEMA?
(A) First Exchange Management Act
(B) Foreign Exchange Management Act
(C) Foreign Exchequer Management Act
(D) Foreign Evaluation Management Act
Ans: (B) Foreign Exchange Management Act
97. Which one of the following was launched with the objective of helping the poor in rural areas to become self employed through training?
(A) DPAP
(B) IRDP
(C) TRYSEM
(D) DDP
Ans: (C) TRYSEM
98. At the presentation of the Annual Financial Statement before Parliament, a Finance Bill is also presented in fulfilment of the requirement of Article _ of the Constitution, detailing the imposition, abolition, remission, alteration or regulation of taxes proposed in the Budget.
(A) Article 110(1)(a)
(B) Article 111(1)(a)
(C) Article 112(1)(a)
(D) Article 113(1)(a)
Ans: (A) Article 110(1)(a)
99. It aims to fast track taxpayer’s grievance redressal, ensuring early resolution by integrating all the online and physical grievances received by the department and keeping track of it until it reaches its logical conclusion. What is it?
(A) Aayakar Seva Kendra
(B) Aayakar Setu
(C) e-Nivaran
(D) TDS SMS alert scheme
Ans: (C) e-Nivaran
100. Housing for All by 2022, what is that scheme?
(A) START UP INDIA
(B) AMRUT
(C) SKILL INDIA
(D) DIGITAL INDIA
Ans: (B) AMRUT