Indian Economy Mcq For Net JRf Paper 1

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1.Which among the following are called “Breton Wood Twins”?

[A] IBRD & IMF
[B] IDA & IFC
[C] IDA & MIGA
[D] IMF & IDA

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Answer 1
Explanation: The planners at Breton Woods established the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), which today is part of the World Bank Group ©navclasses

2.Who among the following declared the First Industrial Policy in the Post Independence Period?

[A] Jawahar lal Nehru
[B] Syama Prasad Mookerjee
[C] Bayya Suryanarayana Murthy
[D] Rafi Ahmed Kidwai

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Answer 2
Explanation: In the year 1948, India’s first Industrial Policy Resolution was adopted. This resolution defined the roles of government in development of industries in independent India. This policy determined that India would follow a mixed economy model having both public and private enterprises. ©navclasses

3.In which year central government abolished banking Services Recruitment Boards?

[A] 1995
[B] 1997
[C] 1999
[D] 2002

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Answer 4
Explanation: In 1978 Banking Services Recruitment Boards (BSRBs) were established to have a uniform standards & eligibility criteria for recruitment of personnel in public sector banks. They were abolished in May, 2002 after enactment of Banking Services Commission (Repeal) Bill, 2002. ©navclasses

4.Which among the following represents accounting year of Reserve Bank of India?

[A] April- March
[B] January – December
[C] September-August
[D] July-June

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Answer 4
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5.From the given options below bring out the one, which is not an instrument of monetary policy ?

[A] Bank rate Policy
[B] Reserve Ratio Requirements
[C] Open market Operations
[D] Open market Operations

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Answer 4
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6.Which among the following body in India requires to protect the interests of consumers against anti-competitive practices of all market entities?

[A] National Consumer Forum
[B] Competition Commission of India
[C] National Consumer Disputes Redressal Commission
[D] Central Vigilance Commission

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Answer 2
Explanation: The Competition Commission of India (CCI) was set up to replace the anachronistic Monopolies and Restrictive Trade Practices Commission (MRTPC). It was established to eliminate practices that adversely affect competition in different industries/areas and protect interests of consumers and ensure freedom of trade. The Competition Act of 2002 called for the creation of CCI. However, it was established in 2003 and became fully functional only by 2009. The CCI is a quasi-judicial body which gives opinions to statutory authorities and also deals with other cases. It has one chairman and six members. It is the youngest and the only cross-sector regulator in India. ©navclasses

7.Debt financing that can magnify the risk and reward for an investment are called as follows:

[A] Reward risk
[B] Derivative
[C] Leverage
[D] Investment strategy

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Answer 3
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8.In context with the 4 concepts of Money supply in India (i.e. M1, M2, M3 and M4) used by Reserve Bank of India, which among the following are the most relevant ?

[A] M1 & M2
[B] M2 & M4
[C] M1 & M4
[D] M1 & M3

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9.Which among the following does not come under the monetary policy for regulating the economy?

[A] Discount rate
[B] Government spending
[C] reserve requirement
[D] Open market Operations

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10.Which among the following scheme is exclusively for Micro, small & medium enterprises?

[A] Credit Linked Capital Subsidy Scheme
[B] Duty Entitlement Pass Book
[C] Duty Free Replenishment Card
[D] Focus Product Scheme

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