GK Questions and Answers for Bank Exams

A lender of last resort is one you go to when you need money urgently and have exhausted all your other options. Banks generally turn to their lender as a last resort when they cannot get the funds they require for their daily business.

In the Twelfth Plan, a target of 8 percent growth has been set for a period of five years i.e. from 2012-13 to 2016-17. With a growth rate of only 5 per cent in the first year and possibly 6.5 per cent in the second year, the growth rate will have to accelerate significantly in subsequent years to achieve an average of 8 per cent over the entire plan period.

27 January 1921

The fifth five year plan was for only four years.

The correct answer is 1966. On October 19, 1965, the then Secretary to the Government of India, B. Sivaraman gave formal approval to the committee's proposal. Subsequently, for the first time, in 1966–67, the Minimum Support Price (MSP) of wheat and paddy was fixed.

The interest charged on savings account deposits generally ranges from 2.70% to 7.75% per annum.

IFCI: IFCI (Industrial Finance Corporation of India) is the first most developmental financial institution established by the Government of India on July 1, 1948. IFCI is a public sector non-banking financial company. The main objective of IFCI was to provide long-term finance to the manufacturing and industrial sector of the country.

For the first time in India, in 1960-61, a program called Intensive Agriculture District Program was run in 7 selected districts of the country. Pali of Rajasthan was also involved in this. The objective of this program was to provide loans, seeds, fertilizers, tools etc. to the farmers and to create a framework for intensive farming in other areas through central efforts.

The Brundtland Report clarified the generally accepted definition of sustainable development: "Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs".

It was established as an executive body on 12 April 1988 and given statutory powers on 30 January 1992 through the SEBI Act, 1992.