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Indian Economy MCQ for Bank PO free Online Test
The largest public sector commercial bank of India is –
(a) Bank of India
(b) Union Bank of India
(c) State Bank of India
(d) Reserve Bank of India
Option c – State Bank of India
Which one of the following rates is not determined by the Reserve Bank of India?
(a) SLR
(b) CRR
(c) Repo Rate
(d) Prime Lending Rate
Option d – Prime Lending Rate
Which of the following committees has given its recommendations on ‘Financial Inclusion’?
(a) Kelkar Committee
(b) Sinha Committee
(c) Rangarajan Committee
(d) Rakesh Mohan Committee
Option c – Rangarajan Committee
Which of the following is NOT a term used in the field of Banking and Finance?
(a) GBC
(b) RTGS
(c) Overdraft
(d) Base Line
Option a – GBC
Reserve Bank of India was nationalized in –
(a) 1947
(b) 1948
(c) 1949
(d) 1951
Option c – 1949
Bad loans in banking terminology are generally known as –
(a) NPAs
(b) BPOs
(c) CBs
(d) Prime Loans
Option a – NPAs
Which of the following is not correctly matched?
(a) SEBI – Security Market Regulatory Body
(b) RBI – Banking Regulatory Authority
(c) SBI – Commercial Bank
(d) IDBI – World Bank
Option d – IDBI – World Bank
Which of the following payment instruments introduced by banks is known as plastic money?
(a) Gift Cheques
(b) Credit Cards
(c) Demand Drafts
(d) Bearer Cheques
Option b – Credit Cards
Which of the following is a project to develop watersheds in India?
(a) CARE
(b) AVARD
(c) NWDPRA
(d) DRDO
Option c – NWDPRA
Which of the following schemes launched by the Government of India provides a guaranteed 100 days of employment to rural employment-seekers in India?
(a) National Rural Employment Guarantee Act
(b) Swarnajayanti Grameen Rojgar Yojana
(c) Bharat Nirman
(d) National Food for Work Programme
Option a – National Rural Employment Guarantee Act
The Government of India nationalized 14 large commercial banks for the first time in the year –
(a) 1956
(b) 1959
(c) 1969
(d) 1971
Option c – 1969
Banks are required to maintain a certain ratio between their cash in hand and total assets. This is called –
(a) SLR
(b) CRR
(c) CBR
(d) SBR
Option b – CRR
The National Housing Bank (NHB) was set up as a wholly-owned subsidiary of which one of the following?
(a) Reserve Bank of India
(b) ICICI Bank
(c) State Bank of India
(d) Life Insurance Corporation of India
Option a – Reserve Bank of India
Which of the following is not an apex institution?
(a) State Bank of India
(b) SIDBI
(c) NABARD
(d) State Co-operative Bank
Option d – State Co-operative Bank
The EXIM Bank of India was established in –
(a) 1964
(b) 1976
(c) 1980
(d) 1982
Option d – 1982
Fiscal policy of India is formulated by –
(a) The Reserve Bank of India
(b) The Finance Ministry
(c) The Planning Commission
(d) The Securities and Exchange Board of India
Option b – The Finance Ministry
Rise in the price of a commodity means –
(a) Rise in the value of currency only
(b) Rise in the value of the commodity only
(c) Fall in the value of currency only
(d) Fall in the value of currency and rise in the value of the commodity
Option a – Rise in the value of currency only
Rangachari Committee is associated with which one of the following?
(a) Estimation of national income
(b) Tax structure
(c) Estimation of money supply
(d) Pricing and taxation of petroleum products
Option d – Pricing and taxation of petroleum products
A community’s stock of wealth is accounted for by –
(a) Net increase in invisible and intangible goods
(b) Standard of living of people
(c) Aggregate of capital and consumer goods
(d) Gross investment minus depreciation
Option c – Aggregate of capital and consumer goods
In India, the concept of ‘minimum needs’ and ‘directed anti-poverty programmes’ were the innovation of –
(a) Fourth Five-Year Plan
(b) Fifth Five-Year Plan
(c) Sixth Five-Year Plan
(d) Seventh Five-Year Plan
Option b – Fifth Five-Year Plan
Which of the following deficits contributes the most to the total deficit of the Government of India?
(a) Fiscal Deficit
(b) Primary Deficit
(c) Revenue Deficit
(d) Budgetary Deficit
Option a – Fiscal Deficit
The latest committee to submit its report on tax reforms is known as –
(a) Chelliah Committee
(b) Vaghul Committee
(c) Kelkar Committee
(d) Narasimhan Committee
Option c – Kelkar Committee
VAT is imposed –
(a) Directly on the consumer
(b) On the first stage of production
(c) On the final stage of production
(d) On all stages between production and final sale
Option d – On all stages between production and final sale
‘Beti Bachao, Beti Padhao’ scheme was launched in India in –
(a) February 2015
(b) January 2015
(c) March 2015
(d) April 2015
Option b – January 2015
The Mid-Day Meal scheme was started in the year –
(a) 1995
(b) 1996
(c) 1997
(d) 1998
Option a – 1995
Who among the following developed the concept of the Human Development Index?
(a) Alva Myrdal
(b) A.S. Kadir
(c) Amartya Sen
(d) Mehboob Ul Haq
Option d – Mehboob Ul Haq
When was the decimal coinage system introduced in India?
(a) 1950
(b) 1957
(c) 1960
(d) 1947
Option b – 1957
In India, NABARD does not provide refinance to –
(a) Export-Import Bank
(b) Regional Rural Banks
(c) Scheduled Commercial Banks
(d) State Land Development Banks
Option a – Export-Import Bank
Bolivar is the monetary unit of –
(a) Brazil
(b) Bolivia
(c) Belarus
(d) Venezuela
Option d – Venezuela
In which year was the Food Corporation of India (FCI) set up?
(a) 1955
(b) 1960
(c) 1965
(d) 1970
Option c – 1965
Which of the following is the chief characteristic of mixed farming?
(a) Cultivation of two or more crops in the same field
(b) Cultivation of both food and cash crops
(c) Rearing of animals together with the cultivation of crops
(d) None of these
Option c – Rearing of animals together with the cultivation of crops
Which state had the lowest literacy rate according to the 2001 Census report?
(a) Bihar
(b) Haryana
(c) Madhya Pradesh
(d) Arunachal Pradesh
Option a – Bihar
What is the rank of Bihar in terms of population in India?
(a) 3rd
(b) 4th
(c) 5th
(d) 6th
Option a – 3rd
Which state has the lowest female-to-male ratio among the states?
(a) Manipur
(b) Tripura
(c) Sikkim
(d) Arunachal Pradesh
Option c – Sikkim
Which of the following is not considered economic infrastructure?
(a) Roads
(b) Railways
(c) Power
(d) Education and Health
Option d – Education and Health
Which is the highest bank in the banking structure of India?
(a) State Bank of India
(b) Central Bank of India
(c) Reserve Bank of India
(d) Industrial Development Bank of India
Option c – Reserve Bank of India
Which of the following is known as the “third pillar” in international economic relations?
(a) IMF
(b) World Bank
(c) WTO
(d) GATT
Option c – WTO
(a) First falls and then rises
(b) First rises and then falls
(c) Keeps on increasing
(d) Remains constant
Option c – Keeps on increasing
Which is the most industrially advanced state in India?
(a) Gujarat
(b) Punjab
(c) Maharashtra
(d) Tamil Nadu
Option c – Maharashtra
The Green Revolution in India started from –
(a) Delhi
(b) Kanpur
(c) Pant Nagar
(d) Bengaluru
Option c – Pant Nagar
Under which Five-Year Plan did agriculture register a negative growth?
(a) Third
(b) Fifth
(c) Ninth
(d) Seventh
Option a – Third
Where is the Indian Pulse Research Institute located?
(a) Kanpur
(b) Lucknow
(c) Faizabad
(d) Allahabad
Option a – Kanpur
Where is the Indian Sugarcane Research Institute situated?
(a) Varanasi
(b) Lucknow
(c) Kanpur
(d) New Delhi
Option b – Lucknow
NABARD was established during the –
(a) Fourth Five-Year Plan
(b) Fifth Five-Year Plan
(c) Sixth Five-Year Plan
(d) Eighth Five-Year Plan
Option c – Sixth Five-Year Plan
(a) Co-operative Banks
(b) Regional Rural Banks
(c) Commercial Banks
(d) Microfinance Institutions
Option c – Commercial Banks
When did India’s population touch the 100 crore mark?
(a) May 2000
(b) May 2001
(c) May 2002
(d) May 2003
Option a – May 2000
Which one of the following states of India has the highest literacy rate?
(a) Punjab
(b) Mizoram
(c) West Bengal
(d) Andhra Pradesh
Option b – Mizoram
The state with the second-largest population in India is –
(a) Maharashtra
(b) West Bengal
(c) Uttar Pradesh
(d) Madhya Pradesh
Option a – Maharashtra
Which of the following states in India is the smallest in terms of population?
(a) Odisha
(b) Madhya Pradesh
(c) Tamil Nadu
(d) Karnataka
Option a – Odisha
The minimum forest cover required to maintain ecological balance in the plains is –
(a) 25%
(b) 33%
(c) 40%
(d) 50%
Option b – 33%
Major coalfields of India are located in the river valley of –
(a) Damodar
(b) Godavari
(c) Mahanadi
(d) Wardha
Option a – Damodar
The Korba coalfield is located in –
(a) Assam
(b) Odisha
(c) West Bengal
(d) Chhattisgarh
Option d – Chhattisgarh
Which of the following is not a nuclear power centre?
(a) Kota
(b) Kakrapara
(c) Chamera
(d) Narora
Option c – Chamera
Which one among the following countries has the lowest GDP per capita?
(a) China
(b) Sri Lanka
(c) India
(d) Indonesia
Option c – India
(a) Increases
(b) Decreases
(c) Remains constant
(d) Decreases, then increases
Option a – Increases
When was the concept of the Human Development Index (HDI) introduced by the United Nations Development Programme?
(a) 1990
(b) 1991
(c) 1993
(d) 1995
Option a – 1990
In terms of the Human Development Index, India falls under which category?
(a) Low
(b) Medium
(c) High
(d) Very low
Option a – Low
What is the name of the scheme that provides training and skills to women in traditional and non-traditional trades?
(a) Swawlamban
(b) Swayamsiddha
(c) Kishori Shakti Yojana
(d) Rashtriya Mahila Kosh
Option a – Swawlamban
The Bonded Labour System (Abolition) Act was legislated in –
(a) 1974
(b) 1976
(c) 1977
(d) 1978
Option b – 1976
The Planning Commission was abolished by which Prime Minister?
(a) I. K. Gujral
(b) Morarji Desai
(c) Narendra Modi
(d) Atal Bihari Vajpayee
Option c – Narendra Modi
Which one of the following Union Territories of India has more females than males?
(a) Delhi
(b) Puducherry
(c) Chandigarh
(d) Lakshadweep
Option b – Puducherry
Which of the following is not a measure undertaken by the government?
(a) Increase in consumption
(b) Increase in production
(c) Taxation measures
(d) Reduction in deficit financing
Option a – Increase in consumption
The Industrial Development Bank of India was set up in –
(a) July 1962
(b) July 1964
(c) July 1966
(d) July 1968
Option b – July 1964
The Minimum Support Price for food grains was introduced in the year –
(a) 1944
(b) 1954
(c) 1964
(d) 1974
Option d – 1974
Open market operations of RBI refer to the buying and selling of –
(a) Gold
(b) Commercial bills
(c) Foreign exchange
(d) Government bonds
Option d – Government bonds
The bank cheques are processed using –
(a) MICR
(b) OCR
(c) OMR
(d) PMR
Option a – MICR
The food stocks that are built up during years of bumper harvest are called –
(a) Grain stock
(b) Buffer stock
(c) Capital stock
(d) Production stock
Option b – Buffer stock
Of the following land uses, which is restricted to Special Economic Zones?
(a) Marketing centres
(b) Free Trade Centres
(c) Educational Institutions
(d) Information Technology companies
Option b – Free Trade Centres
Which of the following is a part of the tertiary sector?
(a) Cultivation of crops
(b) Animal Husbandry
(c) Power and Transportation
(d) Cotton manufacturing
Option c – Power and Transportation
Which of the following items is a major item of Indian export?
(a) Potato chips
(b) Car engines
(c) Computer chips
(d) Textile garments
Option b – Car engines
Which one of the following taxes is collected and utilized by the State Governments?
(a) Land revenue
(b) Custom duties
(c) Corporation tax
(d) Personal Income tax
Option a – Land revenue
The Imperial Bank of India, after its nationalization, came to be known as –
(a) State Bank of India
(b) United Bank of India
(c) Indian Overseas Bank
(d) Reserve Bank of India
Option a – State Bank of India
Which of the following organizations is known as the Market Regulator in India?
(a) IBA
(b) SEBI
(c) AMFI
(d) NSDL
Option b – SEBI
The headquarters of the Reserve Bank of India (RBI) is situated in –
(a) Delhi
(b) Kolkata
(c) Mumbai
(d) Chennai
Option c – Mumbai
Devaluation of the rupee in India was first introduced in the year –
(a) 1949
(b) 1966
(c) 1972
(d) 1990
Option a – 1949
Who formulates the monetary policy in India?
(a) SEBI
(b) RBI
(c) Planning Commission
(d) Finance Ministry
Option b – RBI
In which year was the Indian rupee devalued two times within a month?
(a) 1990
(b) 1991
(c) 1994
(d) 1999
Option b – 1991
(a) Taxes
(b) Defence
(c) Agriculture
(d) Industry
Option b – Defence
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