Indian Economy Test 53

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Indian Economy Test 53

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Weekly Quiz Competition

Question 1
1 / -0

With reference to Indian economy , consider the following statements
1 . The Lead Bank Scheme was started towards the close of 1980.
2 . The Lead Bank Scheme was aimed to bring a balanced regional development in the country.
Which of the statement given above is / are correct ?

A
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2
Question 2
1 / -0

Which one among the following is correct about the Repo Rate in the Indian Economy?

A
It is the rate at which banks borrow funds from the RBI

B
It is the rate at which banks park their funds with the Central Bank

C
It is the percentage difference in the prices of repurchase of the bills from the original prices

D
Both 'a' and 'c'

Solution

Repo rate is a mechanism under the Liquidity Adjustment Facility (LAF) under which the banks borrow money from the Central Bank using Government securities as the collateral, with an obligation to buy back the securities later.
Question 3
1 / -0

Consider the following statements about Sinking Fund
1) It is a method of repayment of public debt.
2) It is created by the government out of budgetary revenues every year.
Which of the statements given above is / are correct ?

A
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2

Solution

A Sinking Fund is a means of repaying debt borrowed through a bond issue through periodic payments to a trustee. The money deposited in the Fund is used to retire preferred stocks and debentures. A Sinking Fund provides additional safeguards to the bond holders.
Question 4
1 / -0

With reference to Gilt-edge Securities , consider the following statements
1) it is long term fixed-rate bonds.
2) It is very sensitive to changes in interest rates.
3) It is less demand in the market than the private commercial papers.
Which of the statements given above is / are correct ?

A
1 and 2

B
2 and 3

C
Only 2

D
All of these
Question 5
1 / -0

Consider the following statements
1 . Priority Sector Lending is started since the establishment of the Banking system in India.
2 . Priority Sector Lending is mainly aimed to give adequate assistance to those sector which contributed a significant proportion of national product.
Which of the statement given above is / are correct ?

A
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2
Question 6
1 / -0

The terms 'Marginal Standing Facility Rate' and 'Net Demand and Time Liablities', sometimes appearing in news, are used in relation to _________________.

A
banking operation

B
communication networking

C
military Strategies

D
supply and demand of agricultural products

Solution

Marginal Standing Facility is a ruote created by the RBI (came in May 2011) under which banks can barrow maximum 1 per cent (fixed by the RBI) of their Net Demand and Time Liabilities (NDTL) from the RBI for one night. This works as an alternate ruote to the Repo but is costlier to it.
Question 7
1 / -0

Consider the following transactions
1) Payment between Nepal and India.
2) Payment between Bhutan and India.
Which of the payments given above is / are the payments not eligible for settlement though the Asian Clearing Union ?

A
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2
Question 8
1 / -0

Consider the following roles:
1) Bank of issue
2) Controller of credit
3) Supervision to bring sound banking
4) Banker to government
Which of the roles given above are the functions or roles of the Reserve bank of India?

A
1 and 2

B
1 and 3

C
1 , 2 and 4

D
All of these

Solution

RBI is the banker's bank and also the banker to the Govt. It is also the Bank of Issue as it has the responsibility of minting the currency under the RBI Act.

Through various mechanisms like SLR, CRR, LAF etc, it also controls the amount of credit and money supply. RBI also has the responsibility of regulating the banking sector and provides rules, regulations and guidelines in order to ensure sound banking in the country.
Question 9
1 / -0

Consider the following statements:
1) In India , the Cash Reserve Requirement is between 3 to $$15\%$$ of the total demand and time deposits of the commercial banks.
2) In India , the Statutory Liquidity Requirement is not less than $$25\%$$ of the total demand and time deposits of commercial banks.
Which of the statements given above is/are correct about the General Credit Control measures used by the RBI?

A
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2

Solution

In current times, the CRR in India remains around 4% of the total demand and time deposits while the SLR remains around 20% of the total demand and time deposits. These values may fluctuate depending upon the periodic monetary policy reviews of the RBI.
Question 10
1 / -0

Shishu , Kishor and tarun are the schemes of

A
Regional Rural Banks.

B
Micro Units Development and Refinance Agency Limited (MUDRA).

C
Small Industries Development Bank of India.

D
Industrial Development Bank of India.

Solution

The primary product of PM's 'Pradhan Mantri Mudra Yojana' will be providing refinance for lending to micro businesses. The interventions have been named 'Shishu', 'Kishor', and 'Tarun' to signify the stage of growth/development.

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Re-Attempt Weekly Quiz Competition

Indian Economy Test 53

Result

Indian Economy Test 53

Score

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Rank

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SHARING IS CARING

Question 1

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Question 2

It is the rate at which banks borrow funds from the RBI

It is the rate at which banks park their funds with the Central Bank

It is the percentage difference in the prices of repurchase of the bills from the original prices

Both 'a' and 'c'

Solution

Question 3

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Solution

Question 4

1 and 2

2 and 3

Only 2

All of these

Question 5

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Question 6

banking operation

communication networking

military Strategies

supply and demand of agricultural products

Solution

Question 7

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Question 8

1 and 2

1 and 3

1 , 2 and 4

All of these

Solution

Question 9

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Solution

Question 10

Regional Rural Banks.

Micro Units Development and Refinance Agency Limited (MUDRA).

Small Industries Development Bank of India.

Industrial Development Bank of India.

Solution

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