Quiz on Indian Economy – GK GS Quiz for All Competitive Exams
41.Which among the following defines ‘currency depreciation” of a currency?
[A] Fall in the exchange rate of one currency in terms of other currencies
[B] Fall in the exchange rate of other currencies in terms of one currencies
[C] Decrease in the volume of a particular currency
[D] Increase in the exchange rate of a currency
View Answer
Correct Answer: A [Fall in the exchange rate of one currency in terms of other currencies]
Notes: Currency depreciation is the loss of value of a country’s currency with respect to one or more foreign reference currencies. This is a term used in floating exchange rate system, where the exchange rates of a currency are market driven and not fixed by the country’s central bank.
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42.Which among the following organizations holds the largest stake in India’s top depository, National Securities Depository Limited (NSDL)?
[A] National Stock Exchange
[B] IDBI Bank
[C] Specified Undertaking of the Unit Trust of India (SUUTI)
[D] Bombay Stock Exchange
View Answer
[B] IDBI Bank
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43.The Union Bank of India would like to use an account of State bank of India in Citibank of New York in dollars. For Union Bank of India it is a _________?
[A] NOSTRO account
[B] VOSTRO Account
[C] LORO Account
[D] Forex Account
View Answer
[C] LORO Account
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44.In which year the Securities and Exchange Board of India (SEBI ) introduced the concept of “anchor investor” in public issues?
[A] 2005
[B] 2007
[C] 2009
[D] 2010
View Answer
[C] 2009
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45.Many a times we read in the financial newspapers that Reserve bank of India is “Lender of Last Resort (LOLR) ” In India. Which among the following statement gives the most correct definition of “Lender of Last Resort”?
[A] If a person or firm which is eligible to get a loan, does not get it from any commercial bank, may approach to Reserve Bank of India for loan.
[B] If the state governments are in crisis and need money for short term , they can approach RBI for this purpose
[C] If a commercial bank is in crisis, it may place its reasonable demand for accommodation to Reserve Bank of India
[D] A scheduled commercial bank meets all of its demands in all weathers from Reserve bank of India
View Answer
[C] If a commercial bank is in crisis, it may place its reasonable demand for accommodation to Reserve Bank of India
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46.The targets from fifth five year plan were set with respect to which of the following parameters?
[A] National Income
[B] Net Domestic Product
[C] Gross Domestic Product at Factor Cost
[D] Gross Domestic Product at Market Cost
View Answer
[C] Gross Domestic Product at Factor Cost
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47.Which among the following is not a Government scheme / project to enhance financial Inclusion?
[A] Pradhan Mantri Jan Dhan Yojana
[B] Bharat Financial Inclusion
[C] BSBDA
[D] Aadhaar Enabled Payment System
View Answer
[B] Bharat Financial Inclusion
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48.If interest payments are subtracted from gross fiscal deficit, the remainder will be__:
[A] Revenue deficit
[B] Gross primary deficit
[C] Capital deficit
[D] Budgetary deficit
View Answer
[B] Gross primary deficit
Notes: Primary deficit is the gross deficit which is obtained by subtracting interest payments from budget deficit of any country of a particular year. We need to know the value of primary deficit, while calculating the fiscal deficit. Alternative Definition of Primary Deficit Primary deficit corresponds to the net borrowing, which is required to meet the expenditure excluding the interest payment. Primary Deficit = (Fiscal Deficit – Interest Payment)
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49.Consider the following statements about the Bank Mitra:
1. The minimum age required for an individual to become a Bank Mitra is 18 years
2. Bank Mitra gets fix salary irrespective of the bank and branch
Which of the above statements is/are correct?
[A] 1 Only
[B] 2 Only
[C] Both 1 & 2
[D] Neither 1 nor 2
View Answer
Correct Answer: C [ Both 1 & 2 ]
Notes: Bank Mitra are those individuals who acts as an agent of the bank at places where it is not possible to open branch of the bank. Bank Mitra basically acts like the representatives of banks and provides all kind of assistance in opening an account under the PMJDY scheme. Bank Mitra gets a fixed salary of INR 5000 irrespective of the bank and branch. Apart from this, commission on debit/cards is also earned which differs from bank to bank.
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50.Which state in India has the largest coal reserves?
[A] Jharkhand
[B] Odhisha
[C] Madhya Pradesh
[D] Rajasthan
View Answer
Correct Answer: A [Jharkhand]
Notes: Jharkhand has the largest estimated coal reserves in India. It constitutes of about 38% of the total reserves in India. The main coal mining centres of the state are Ramgarh, Auranga, Bokaro, Karanpur, etc. India’s top 3 coal-producing states are 1. Jharkhand 2. Odisha 3. Chattisgarh.
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By Team Learning Mantras
