The ______ was nationalised in the year 1949.
(A) Union Bank of India
(B) Reserve Bank of India
(C) Central Bank of India
(D) Imperial Bank of India
1. The Reserve Bank of India was nationalized on January 1, 1949.
2. Earlier, the Reserve Bank of India was a privately owned bank, established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934.
2. After India's independence on 15 August 1947, RBI was nationalized on 1 January 1949.
4. After nationalization, the Reserve Bank of India came under the complete ownership of the Government of India.
The Reserve Bank of India introduced a comprehensive regulatory framework for NBFC-MFI on __________.
(A) 10 December 2015
(B) 2 December 2011
(C) 8 December 2013
(D) 5 December 2012
1. The Reserve Bank of India introduced a comprehensive regulatory framework for NBFC-MFIs on 2 December 2011.
The difference between Revenue Receipts plus Non-debt Capital Receipts (NDCR) and total expenditure is called ______.
(A) Revenue Deficit
(B) Fiscal Deficit
(C) Effective Revenue Deficit
(D) Primary Deficit
1. The difference between the sum of revenue receipts and Non-Debt Capital Receipts (NDCR) and total expenditure is called fiscal deficit.
2. Fiscal deficit is an important indicator of the financial position of the government.
3. It shows how much difference there is between the current income and expenditure of the government.
4. Fiscal deficit can be influenced by many factors, including.
- Economic situation: During an economic recession, the government often increases the fiscal deficit to provide stimulus to the economy.
- Political pressure: Governments often run up fiscal deficits to raise funds for social programs.
- Military spending: Governments often run fiscal deficits to increase military spending.
Which Indian finance minister was India’s delegate to the World Monetary Conference at Bretton Woods in 1944?
(A) KC Neogy
(B) CD Deshmukh
(C) John Mathai
(D) RK Shanmukham Chetty
1. In the World Monetary Conference at Bretton Woods in 1944, R. Of. Shanmukham Chetty served as the Indian Finance Minister.
2. Served as Speaker of the Central Legislative Assembly of India, and also as Dewan of Cochin State from 1935 to 1941.
To which of the following sectors of the economy do Basel III norms belong?
(A) Banking
(B) Capital market
(C) Automobile
(D) Aviation
1. The Basel norms are international banking rules to strengthen the international banking system.
2. It is in the form of an agreement by the Basel Committee on Banking Supervision which mainly focuses on the risks to banks and the financial system.
Which of the following is NOT a public sector insurance company?
(A) United India Insurance Company Limited
(B) The New India Assurance Company Limited
(C) SBI Life Insurance
(D) General Insurance Corporation of India
There are public sector insurance companies.
1. United India Insurance Company Limited
2. The New India Assurance Company Limited
3. General Insurance Corporation of India
In India, which of the following statements about the National Investment Fund is true?
Statements:
I. It was created in 2005.
II. 75% of its annual income was to be used for schemes promoting health, education and employment.
III. It was dissolved in 2018.
(A) Only statement I
(B) Only statement II
(C) Only statements I and III
(D) Only statements I and II
All the statements about the National Investment Fund in India are true.
I. It was created in 2005.
II. 75% of its annual income was to be used for schemes promoting health, education and employment.
As per the recommendations of the National Statistical Commission, the Base Year of the GDP Series in India was revised from 2004-05 to ______ with effect from January 2015.
(A) 2011-12
(B) 2013-14
(C) 2005-06
(D) 2009-10
1. From January 2015, as per the recommendations of the National Statistical Commission, the GDP in India The base year of the (GDP) series was revised from 2004-05 to 2011-12.
Which of the following is considered a capital expense?
(A) Pension
(B) Payment of salaries
(C) Subsidies
(D) Construction of school buildings
1. Capital expenditure is money spent by the government on the development of machinery, equipment, buildings, health facilities, education etc.
2. It also includes expenditure by the government on the acquisition of fixed assets like land and investments which give future profits or dividends.
3. Creation of assets as well as repayment of loans is also capital expenditure, as it reduces liability.
In which year did the Government of India set up the first mutual fund by an Act of Parliament?
(A) 1979
(B) 1982
(C) 1963
(D) 1971
1. The mutual fund industry in India began in 1963 with the formation of UTI by an Act of Parliament in 1963 and functioned under the regulatory and administrative control of the Reserve Bank of India (RBI).
2. Unit Trust of India (UTI) was established by an Act of Parliament in 1963.
3. UTI is the first mutual fund company established in India.
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