Which institution is known as the central bank of India?
Correct answer: D
The Reserve Bank of India (RBI), established in 1935, serves as India's central bank.
General Knowledge
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In which year was the Reserve Bank of India established?
Correct answer: A
The Reserve Bank of India was established on 1 April 1935 under the Reserve Bank of India Act, 1934.
Which body regulates the securities market in India?
Correct answer: C
The Securities and Exchange Board of India (SEBI) regulates the securities and stock markets in India.
Which organization regulates the insurance sector in India?
Correct answer: D
The Insurance Regulatory and Development Authority of India (IRDAI) regulates and promotes the insurance industry in India.
What does GDP stand for in economics?
Correct answer: A
GDP (Gross Domestic Product) measures the total monetary value of all goods and services produced within a country in a given period.
Which Indian institution provides credit and support for agriculture and rural development?
Correct answer: C
NABARD (National Bank for Agriculture and Rural Development) supports agricultural and rural development financing in India.
What is the term used for a continuous rise in the general price level of goods and services in an economy?
Correct answer: C
Inflation refers to a sustained increase in the general price level of goods and services over time.
Which Five-Year Plan is associated with the introduction of economic liberalization in India, in 1991?
Correct answer: B
The Eighth Five-Year Plan (1992-97) coincided with India's economic liberalization reforms, initiated in 1991.
Which body has replaced the Planning Commission of India since 2015?
Correct answer: A
NITI Aayog (National Institution for Transforming India) replaced the Planning Commission in January 2015.
What does GST stand for, the unified indirect tax system implemented in India in 2017?
Correct answer: D
GST stands for Goods and Services Tax, a unified indirect tax that replaced multiple central and state taxes in India from 2017.
Which is the currency of Japan?
Correct answer: C
The Yen is the official currency of Japan.
Which is the currency of the United Kingdom?
Correct answer: A
The Pound Sterling is the official currency of the United Kingdom.
What is the currency of the United States called?
Correct answer: D
The United States Dollar (USD) is the official currency of the United States.
Which organization publishes the annual World Economic Outlook report?
Correct answer: B
The International Monetary Fund (IMF) publishes the World Economic Outlook report, assessing the global economy.
Which international financial institution primarily focuses on providing loans for development projects in developing countries?
Correct answer: A
The World Bank primarily provides financial and technical assistance for development projects in developing countries.
Which term refers to a situation where a country's imports exceed its exports?
Correct answer: C
A trade deficit occurs when a country's imports of goods and services exceed its exports.
What is the term for the annual financial statement of a government's expected income and expenditure?
Correct answer: D
A budget is the annual financial statement outlining a government's estimated revenue and expenditure for the coming year.
Who presents the Union Budget of India in the Parliament?
Correct answer: D
The Union Budget of India is presented in Parliament by the Union Finance Minister.
Which organization regulates international trade rules between member nations?
Correct answer: A
The World Trade Organization (WTO) sets and enforces rules governing international trade between its member countries.
What term describes the total value of goods and services produced by a country's residents, whether in the country or abroad?
Correct answer: C
GNP (Gross National Product) measures the total output produced by a country's residents, including income earned abroad.
Which Indian bank is the largest public sector bank by assets?
Correct answer: B
The State Bank of India (SBI) is the largest public sector bank in India by assets and customer base.
What is the term used for money set aside by a bank to cover potential losses, mandated by the RBI, known as the Cash Reserve Ratio?
Correct answer: C
The Cash Reserve Ratio (CRR) is the minimum percentage of a bank's total deposits that must be maintained as reserves with the RBI.
Which scheme was launched by the Government of India in 2014 to promote financial inclusion through zero-balance bank accounts?
Correct answer: C
Pradhan Mantri Jan Dhan Yojana, launched in 2014, aims to provide universal access to banking facilities through zero-balance accounts.
What is the full form of MSME, a key sector of the Indian economy?
Correct answer: A
MSME stands for Micro, Small and Medium Enterprises, a vital sector contributing significantly to India's employment and GDP.
Which term describes the rate at which the RBI lends short-term funds to commercial banks?
Correct answer: B
The repo rate is the rate at which the RBI lends money to commercial banks against government securities.