GK Questions and Answer, GK Quiz

1:  Which among the following is the primary role of NABARD?
Options:
  1. To provide term loans to State Cooperative Banks.
  2. To assist State Governments for share capital contribution.
  3. To act as refinance institution.
  4. All of the above.

Answer: Option1

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2:  An Open Market Operation (OMO) is an activity by a Central Bank that involves
Options:
  1. increase or decrease of discount rate
  2. raising or lowering of marginal requirements
  3. sale and purchase of government securities
  4. changing the reserve ratio up and down

Answer: Option3

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3:  14 major commercial banks in India were nationalized in 1969, with a deposit base not less than
Options:
  1. Rs. 200 crores
  2. Rs. 125 crores
  3. Rs. 100 crores
  4. Rs. 50 crores

Answer: Option4

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4:  Devaluation of currency helps to promote which among the following options?
Options:
  1. exports
  2. imports at lower cost
  3. savings
  4. national income

Answer: Option1

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5:  What does the term 'Legal Tender Money' refer to?
Options:
  1. Cheques
  2. Drafts
  3. Bills of exchange
  4. Currency notes

Answer: Option4

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6:  The first bank to be established in India was
Options:
  1. Imperial Bank of India
  2. Bank of Hindustan
  3. General Bank of India
  4. Bank of Calcutta

Answer: Option2

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7:  'Monetary Policy' refers to the credit control measures adopted by the
Options:
  1. Moneylenders
  2. Government
  3. Commercial Banks
  4. Central Bank

Answer: Option4

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8:  In 1969, how many Banks were nationalized in India?
Options:
  1. 6
  2. 8
  3. 14
  4. 20

Answer: Option3

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9:  The Reserve Bank of India issues currency notes under which of the following systems?
Options:
  1. Fixed fiduciary system
  2. Maximum fiduciary system
  3. Minimum reserve system
  4. Proportional reserve system

Answer: Option3

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10:  Which of the following methods can be applied by the government to contain inflation?
Options:
  1. surplus budget
  2. increase in taxation
  3. reduction in public expenditure
  4. All the above

Answer: Option4

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11:  In which year was the Reserve Bank of India established?
Options:
  1. 1935
  2. 1949
  3. 1951
  4. 1955

Answer: Option1

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12:  Which among the following is the primary objective of the Unit Trust of India?
Options:
  1. To assist the industries in financial difficulties.
  2. To diffuse the benefit of development among the masses.
  3. To accumulate funds for public investment expenditure.
  4. To promote the investment habit among those who have not been able to diversify investment risk.

Answer: Option4

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13:  Among the following choices, which one is not an asset held by commercial banks in India?
Options:
  1. Bills of exchange
  2. Current account deposits
  3. Credit balances with the Reserve Bank
  4. Money lent at short notice

Answer: Option2

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14:  Which of the following mints undertakes refining of gold for licensed gold dealers and production of medals for defence services, besides producing currency coins for India?
Options:
  1. The Hyderabad Mint
  2. The Bombay (Mumbai) Mint
  3. The Calcutta (Kolkata) Mint
  4. The Noida Mint

Answer: Option2

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15:  In which year was the decimal system of currency introduced in India?
Options:
  1. 1948
  2. 1950
  3. 1954
  4. 1957

Answer: Option4

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16:  To fill the gap between expenditure and revenue, deficit financing creates additional paper currency. Even though economic development is the aim of this method, yet if it fails, it generates
Options:
  1. inflation
  2. devaluation
  3. deflation
  4. demonetisation

Answer: Option1

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17:  How will credit creation be affected, if the Central Bank lowers the cash-reserve ratio?
Options:
  1. Decrease
  2. Increase
  3. No change
  4. None of these

Answer: Option2

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18:  Which among the following is the correct definition of the term 'Bank Rate'?
Options:
  1. It is the interest rate charged by Scheduled Banks.
  2. It is the official rate of interest charged by the Central Bank of a country.
  3. It is the rate of profit of the Banking Institutions.
  4. It is the interest rate charged by money lenders.

Answer: Option2

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19:  Among the following economic factors, which one contributes to an inflationary trend in an economy?
Options:
  1. 15% fall in production of industrial goods
  2. 15% increase in prices of agricultural products
  3. 15% increase in supply of money in the market
  4. None of these

Answer: Option3

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20:  Commercial Banking System in India can be classified into which of the following types of banking?
Options:
  1. Mixed Banking
  2. Unit Banking
  3. Branch Banking
  4. None of the Above

Answer: Option1

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