GK Questions and Answer, GK Quiz

1:  What name was given to the 'Imperial Bank of India' (IBI), after nationalisation?
Options:
  1. Reserve Bank of India
  2. Bank of India
  3. State Bank of India
  4. India Overseas Bank

Answer: Option3

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2:  In India, who among the following is responsible for the collection & publication of monetary and financial information?
Options:
  1. Finance Commission
  2. Finance Ministry
  3. Reserve Bank of India
  4. Auditor and Comptroller General of India

Answer: Option3

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3:  A bank in India (private or public) was expected to adopt which of the following, under the 'Lead Bank Scheme'?
Options:
  1. village
  2. town
  3. district
  4. state

Answer: Option3

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4:  The Reserve Bank of India was taken over by the Government from private shareholders in which of the following years?
Options:
  1. 1945
  2. 1948
  3. 1952
  4. 1956

Answer: Option2

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5:  The National Bank for Agriculture and Rural Development (NABARD) was established in which of the following years in India?
Options:
  1. 1977
  2. 1980
  3. 1982
  4. 1984

Answer: Option3

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6:  Which of the following terms is used to define a currency whose exchange rate tends to fall because of persistent balance of payment deficit?
Options:
  1. Soft Currency
  2. Hard Currency
  3. Sinking Currency
  4. Gold Currency

Answer: Option1

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7:  Which among the following is not a fully owned subsidiary of the Reserve Bank of India?
Options:
  1. DICGC
  2. BRBNMPL
  3. NABARD
  4. NHB

Answer: Option3

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8:  The National Housing Bank (NHB) is a subsidiary of which among the following?
Options:
  1. Reserve Bank of India
  2. NABARD
  3. Unit Trust of India
  4. Life Insurance Corporation of India

Answer: Option1

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9:  The IDBI (Industrial Development Bank of India) was established in which of the following years?
Options:
  1. 1952
  2. 1964
  3. 1972
  4. 1981

Answer: Option2

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10:  Which among the following is the main objective of the 'Land Development Bank' in India?
Options:
  1. It refinances the Primary Cooperative Societies.
  2. It finances projects for the development of rural housing.
  3. It provides medium and long-term loans to farmers for land improvements and purchase of implements.
  4. It aids the State Government in land reclamation, soil conservation, etc.

Answer: Option3

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11:  Under which of the following economic scenarios in a country does the problem of 'Unfavourable balance of payments' arises?
Options:
  1. When exports decrease
  2. When exports are greater than imports
  3. When imports decrease
  4. When imports are greater than exports

Answer: Option4

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12:  Which among the following is the Banker of the Banks in India?
Options:
  1. IDBI
  2. SBI
  3. RBI
  4. SBI and RBI

Answer: Option3

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13:  A crossed cheque is a cheque that has been marked to specify an instruction and can be encashed only
Options:
  1. by the drawee
  2. through a bank
  3. at the State Bank of India
  4. after it has been transferred to another person

Answer: Option2

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14:  Which among the following is the cause of inflation?
Options:
  1. increase in money supply
  2. fall in production
  3. increase in money supply & fall in production
  4. decrease in money supply & fall in production

Answer: Option3

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15:  Maintaining the stability of which of the following is proposed in the long term fiscal policy?
Options:
  1. Direct tax rates
  2. Indirect tax rates
  3. Ratio of tax revenue to national income
  4. Ratio of direct tax-revenue to revenue from indirect taxes

Answer: Option1

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16:  Of the following various ways of financing governments' investment expenditure, which is the least inflationary?
Options:
  1. foreign aid
  2. deficit financing
  3. taxation
  4. public borrowing

Answer: Option3

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17:  How will a regressive tax tend to redistribute income?
Options:
  1. More equally
  2. More unequally
  3. More equitably
  4. More inequitably

Answer: Option2

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18:  In the likely scenario of a rise in which of the following will most likely result in the increase of private investment?
Options:
  1. the rate of interest
  2. personal taxation
  3. expected yield on new capital
  4. the price of shares

Answer: Option3

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19:  The Indian Budget includes which among the following ones?
Options:
  1. Revised estimates for the current year.
  2. Budget estimates for the following year.
  3. Actual figures of the preceding year.
  4. All of these.

Answer: Option4

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20:  Which among the following is the correct definition of the term 'Fiscal Deficit' in the Union Budget?
Options:
  1. It is the sum of monetised deficit and budgetary deficit.
  2. It is the net increase in Union Governments' borrowings from the Reserve Bank of India.
  3. It is the sum of budgetary deficit and net increase in internal and external borrowings.
  4. It is the difference between current expenditure and current revenue.

Answer: Option3

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The romantics would call this a love story, the cynics would call it a tragedy. In my mind it's a little bit of both, and no matter how you choose to view it in the end, it does not change the fact that it involves a great deal of my life and the path I've chosen to follow.
-Nicholas Sparks The Notebook