GK Questions: Indian Economy – Set 9

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(Economy) !!!

1. Which of the following financial institution hold the largest assets ?
   1. General Insurance Corporation
   2. Commerical Banks
   3. Life Insurance Corporation
   4. Unit Trust of India
   5. None of  these
   
   Answer & Explanation

   Answer – 4.Unit Trust of India
   Explanation :
   Unit Trust of India is a financial organization in India, which was created by the UTI Act passed by the Parliament of India on December 30, 1963 under the direction of Col. Akash Behl. He had fought very hard and intensely to get this organisation come into reality
   
   
   
2. The National Stock Exchange of India was established in …………………………..
   1. 1992
   2. 1980
   3. 1962
   4. 1957
   5. None of  these
   
   Answer & Explanation

   Answer – 1.1992
   Explanation :
   The National Stock Exchange of India Limited is the leading stock exchange of India, located in Mumbai. NSE was established in 1992 as the first demutualized electronic exchange in the country.It was recognized as a stock exchange under the Securities Contracts in 1993.
   
   
   
3. In October 1993, New Bank of India was merged with which of the following bank ?
   1. Andhra Bank
   2. Vijaya Bank
   3. Punjab National Bank
   4. Corporation Bank
   5. None of  these
   
   Answer & Explanation

   Answer – 3.Punjab National Bank
   Explanation :
   Punjab National Bank acquired New Bank of India in 1993.Thereafter no other nationalized bank in India has been merged into another bank.
   
   
   
4. Which is the 20^th bank that is included in the list of Nationalized Banks ?
   1. Canara Bank
   2. IDBI bank
   3. MUDRA bank
   4. HDFC Bank
   5. None of  these
   
   Answer & Explanation

   Answer – 2.IDBI bank
   Explanation :
   IDBI Bank is an Indian government-owned financial service company, formerly known as Industrial Development Bank of India, headquartered in Mumbai, India
   
   
   
5. CRAR of 9% prescribed with effect from 31 March, 2000.In this A denote
   1. Adequacy
   2. Autonomy
   3. Assests
   4. Account
   5. None of  these
   
   Answer & Explanation

   Answer – 3.AssetsExplanation :
   Capital adequacy :CRAR(Capital to Risk Assets Ratio) of 9% prescribed with effect from 31 March 2000
   
   
   
6. Social Security Fund is administered by ………………….
   1. LIC
   2. RBI
   3. GOI
   4. IRDAI
   5. None of  these
   
   Answer & Explanation

   Answer – 1.LIC
   Explanation :
   The Social Security Fund ( SSF) was set up in 1988 -89 for providing social security through group insurance schemes to the weaker and vulnerable sections of the society. It is administered by LIC
   
   
   
7. The first offshore fund ‘ The Indian Fund’ was launched by …………………..
   1. RBI
   2. LIC
   3. UTI
   4. GOI
   5. None of  these
   
   Answer & Explanation

   Answer – 3.UTI
   Explanation :
   Unit Trust of India is a financial organization in India, which was created by the UTI Act passed by the Parliament of India on December 30, 1963 under the direction of Col. Akash Behl. The first offshore fund ‘ The Indian Fund’ was launched by UTI in 1986
   
   
   
8. Time Deposits are repayable after the expiry of a specified period varying from ……………..
   1. 7 days to 60 weeks
   2. 10 month to 100 months
   3. 10 days to 30 months
   4. 7 days to 120 months
   5. None of  these
   
   Answer & Explanation

   Answer – 4.7 days to 120 months
   Explanation :
   Time Deposits are repayable after the expiry of a specified period varying from
   7 days to 120 months
   
   
   
9. ………………… is a person to whom the payment is to be made by the bank
   1. Drawer
   2. Payee
   3. Drawee
   4. All of these
   5. None of  these
   
   Answer & Explanation

   Answer – 2.Payee
   Explanation :
   A check is a draft signed by the party to be charged (the drawer), ordering a bank (the drawee), to pay a specified sum, on demand, to a party (the payee).
   
   
   
10. Which of the following Ministry compiled the Wholesale Price Index ?
    1. Ministry of External affairs
    2. Ministry of Home Affairs
    3. Ministry of Commerce & Industry
    4. Ministry of Finance
    5. None of  these
    
    Answer & Explanation

    Answer – 3.Ministry of Industry & Industry
    Explanation :
    Wholesale price index comprises as far as possible all transactions at first point of bulk sale in the domestic market. Provisional monthly WPI for All Commodities is released on 14th of every month.It was compiled by Ministry of Industry & Industry