GK Questions and Answer, GK Quiz

1:  The first attempt to initiate economic planning in India was made by which of the following persons?
Options:
  1. Balwantrai Mehta
  2. Vallabhbhai Patel
  3. M. Visvesvaraya
  4. Jawaharlal Nehru

Answer: Option3

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2:  The concept of Five Year Plans in India was introduced by which of the following persons?
Options:
  1. Lord Mountbatten
  2. Jawaharlal Nehru
  3. Indira Gandhi
  4. Lal Bahadur Shastri

Answer: Option2

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3:  Planning in India derives its objectives from which part of the Indian Constitution?
Options:
  1. Fundamental Rights
  2. Directive Principles of State Policy
  3. Fundamental Duties
  4. Preamble

Answer: Option2

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4:  The Chairman of the Planning Commission in India is who among the following?
Options:
  1. President
  2. Speaker of Lok Sabha
  3. Prime Minister
  4. Union Minister of Planning

Answer: Option3

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5:  The Five Year Plan proposals are finalized by which of the following bodies in India?
Options:
  1. Planning Commission
  2. Union Cabinet
  3. National Development Council
  4. Ministry of Planning

Answer: Option3

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6:  As per the Narasimham Committee Recommendations, which two of the following nationalized Indian banks have been merged?
Options:
  1. New Bank of India and Bank of India
  2. Central Bank of India and Corporation Bank
  3. Parur Central Bank and Indian Bank
  4. Punjab National Bank and New Bank of India

Answer: Option4

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7:  What is the role of the 'Banking Ombudsman' in India?
Options:
  1. To provide quality and speedy redressal of grievances of customers.
  2. To provide suggestions for innovative schemes in the banks.
  3. To monitor the quality circles in the bank.
  4. To inspect the internal working of the branches.

Answer: Option1

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8:  What does the term 'Convertibility of the Rupee' means?
Options:
  1. Being able to convert rupee notes into gold.
  2. Freely permitting the conversion of rupee to other major currencies and vice versa.
  3. Allowing the value of the rupee to be fixed by market forces.
  4. Developing an international market for currencies in India.

Answer: Option2

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9:  The 'Board of Financial Supervision' (BFS) was constituted by the RBI to have mandate over which of the following?
Options:
  1. Only commercial banks
  2. Only financial institutions
  3. Only non-banking finance companies
  4. All of these

Answer: Option4

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10:  What does a Scheduled Bank in India refer to?
Options:
  1. A bank having Rs. 10 crore deposits.
  2. A bank having Rs. 100 crore deposits.
  3. A bank having Rs. 1000 crore deposits.
  4. A bank included in the Second Schedule of RBI Act.

Answer: Option4

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11:  On a ten rupee Indian currency note, how many languages are used?
Options:
  1. 2
  2. 7
  3. 10
  4. 15

Answer: Option4

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12:  Government of India had launched the Differential Rate of Interest Scheme (DRI) in the year 1972, which is now being implemented by all Scheduled Commercial Banks, aiming at providing bank loans to
Options:
  1. Weaker sections of the society
  2. Public Limited Companies
  3. Big Exporters
  4. Purchase of Defence Equipments

Answer: Option1

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13:  By what name is the place where bankers meet and settle their mutual claims and accounts known as?
Options:
  1. Treasury
  2. Clearing House
  3. Collection Centre
  4. Dumping Ground

Answer: Option2

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14:  Among the following groups, who are not protected against inflation?
Options:
  1. Salaried class
  2. Industrial workers
  3. Pensioners
  4. Agricultural farmers

Answer: Option4

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15:  Which of the following Indian Banks have the largest number of branches abroad?
Options:
  1. Bank of India
  2. Indian Overseas Bank
  3. State Bank of India
  4. Central Bank of India

Answer: Option3

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16:  Which among the following is the main function of the Exim Bank of India?
Options:
  1. To help RBI in the regulation of foreign exchange.
  2. To prevent unlicensed transactions.
  3. To promote exports and curtail imports.
  4. To conserve foreign exchange.

Answer: Option3

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17:  The RBI constituted Committee on 'Computerization' in Indian banks (1988) was headed by
Options:
  1. R. N. Malhotra
  2. S. Venkitaramanan
  3. M. Narasimham
  4. C. Rangarajan

Answer: Option4

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18:  What was the name of the UTI issue of 1992, which was mentioned in 1993 edition of Guinness Book of World Records for receipt of largest number of applications of any single mutual fund scheme in the world?
Options:
  1. Master share
  2. Master growth
  3. Master gain
  4. Master plus

Answer: Option3

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19:  Which among the following is the main difference between shares and debentures?
Options:
  1. Debentures can only be issued after shares.
  2. Share holders receive dividend on shares whereas debenture holders receive interest on debentures.
  3. Debentures can be partly converted into shares whereas shares cannot be converted into debentures.
  4. Share holders are the owners of the company whereas debenture holders are the creditors of the company.

Answer: Option4

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20:  The headquarters of the Unit Trust of India is located in which of the following cities?
Options:
  1. Mumbai
  2. New Delhi
  3. Kolkata
  4. Chennai

Answer: Option1

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Life is not easy. We all have problems-even tragedies-to deal with, and luck has nothing to do with it. Bad luck is only the superstitious excuse for those who don't have the wit to deal with the problems of life.
-Joan Lowery Nixon In The Face of Danger