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GK Questions: Indian Economy – Set 25

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Hello Aspirants. Welcome to Online General Knowledge section in Affairs cloud, which is important for all the competitive exams. We have created Some questions related to Indian GK(Indian Economy) !!!

  1. ………………. is the rate at which central bank of the country allows finance to commercial banks
    2.Repo Rate
    3.Basic Points
    4.Bank Rate
    5.None of these
    Answer – 4.Bank Rate
    Explanation :
    Bank rate, also referred to as the discount rate in American English, is the rate of interest which a central bank charges on the loans and advances to a commercial bank

  2. Once the borrower has failed to make interest or principle payment for …………….. days the loan is considered to be a non-performing assest
    5.None of these
    Answer – 3.90
    Explanation :
    Once the borrower has failed to make interest or principle payments  for 90 days the loan is considered to be a non-performing asset

  3. SDR(Special Drawing Rights) are new form of International reserve assests, created by ………………….. in 1967
    2.World Bank
    5.None of these
    Answer – 1.IMF
    Explanation :
    The SDR was created by the IMF in 1969 as a supplementary international reserve asset, in the context of the Bretton Woods fixed exchange rate system.

  4. Reverse Repo rate is always ………………. less than the Repo Rate
    5.None of these
    Answer – 2.1%
    Explanation :
    The repo rate is the rate at which the RBI lends money to banks that need it.  The reverse repo rate is the rate at which the RBI borrows money from banks that have surplus

  5. Which of the following is used to control inflation and propel growth ?
    1.Liquidity Adjustment Facility
    2.Reverse Repo Rate
    3.Cash Reserve Ratio
    4.Statutory Liquidity Ratio
    5.None of these
    Answer – 4.Statutory Liquidity Ratio
    Explanation :
    SLR (Statutory Liquidity Ratio) is the amount needed to be maintained by a commercial bank, in the form of cash, or gold or govt. approved securities (Bonds) before providing credit to its customers.

  6. Minimum limit of RTGS is ……………………
    1.1 lakh
    2.2 lakh
    3.1.5 lakh
    4.3 lakh
    5.None of these
    Answer – 2.2 lakh
    Explanation :
    RTGS Minimum limit is 2 Lakhs and maximum limit is 5 Lakhs

  7. We can transfer ………………………… through NEFT
    1.Above 50000
    2.Beelow 1,00,00o
    3.Above 100000
    4.Below 5,00,000
    5.None of these
    Answer – 4.Below 5,00,000
    Explanation :
    There is no ceiling on the minimum or maximum  amount  that can be transferred through NEFT.You can even transfer Re 1.Maximum amount is Rs.5 Lakh

  8. …………………. is maintained by an Indian bank in the foreign countries
    1.VOSTRO Account
    2.LORO Account
    3.NOSTRO Account
    5.None of these
    Answer – 3.NOSTRO Account
    Explanation :
    Nostro accounts are generally held in a foreign country (with a foreign bank), by a domestic bank (from our perspective, our bank). It obviates that account is maintained in that foreign currency

  9. Economic Reforms were introduced in …………………..
    5.None of these
    Answer – 1.1991
    Explanation :
    The Indian Government has introduced many Economic Reforms in India since 1991. India was facing serious deficiency in her foreign trade balance and it was increasing. Since 1987-88 till 1990-91 it was increasing in such a rapid scale that by the end of 1990-91 the amount of this deficit balance became 10,644 crores of rupees.

  10. The committee on Insurance Sector Reforms was set up in 1993 under the Chairmanship of ……………….
    2.R. N. Malhotra
    3.T.S. Vijayan
    4.J. Reddy
    5.None of these
    Answer – 2.R. N. Malhotra
    Explanation :
    The process of re-opening of the sector had begun in the early 1990s and the last decade and more has seen it been opened up substantially. In 1993, the Government set up a committee under the chairmanship of RN Malhotra, former Governor of RBI, to propose recommendations for reforms in the insurance sector.The objective was to complement the reforms initiated in the financial sector.