MCD Crash Course CONSTTTUTION of for APSC Indian Pality Economy and Current Affairs Far APSC CCE and Other Competitive Exams in Assam MCD Lesson 5
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CONSTTTUTION MCD Lesson5 OMCLs Answers +Additional Facts INDIA 0 [Indian Economy
Question 1 How many members are nominated by Government of India to the Monetary Policy Committee of India? b)3 d) None
Question 1 Answer : b The Monetary Policy Committee determines the benchmark policy rate (commonly known as REPO rate) required to achieve the inflation target. It was first constituted in 2016. Monetary Policy Committee consists of Six members. Three Members from the RBI V Three Members are appointed by the Central Government RBI Governor is the Ex officio Chairperson of Monetary Policy Committee
Question 2 The Foreign Exchange Reserve(FOREX) of India consists of which of the following? I. Foreign Currencies I Gold Reserves II. Special Drawing Rights (SDR) with IMF Choose the correct answer a) I only b) Iand II c) and III d) , and IlI
Question 2 Answer d Explanation: Foreign Exchange Reserves of India consists of 1. Foreign Currencies 2. Gold Reserves 3. Special Drawing Rights (SDR) with IMF
Question 3 Which of the following is not a Public Sector Bank in India? a) Corporation Bank b) Federal Bank c) IDBI Bank d) Punjab National Bank
Question 3 Answer: b Explanation: Federal Bank is a private sector bank in India. There are 21 Public Sector Banks (PSBs) in India. In Public Sector Banks majority shares are ( more than 50%) held by the Government. VPunjab National Bank (Founded in 1894, oldest bank in India) Corporation Bank VIDBI (Industrial Development Bank of India)
Question 4 The GST Council consists of which among the following? I. Prime Minister II. Union Finance Minister IlI Finance Ministers of the States Choose the correct answer using the codes a) and lI b) Il only c) Il and III d) All of the above
Question 5 Which of the following are associated with Goods and Services Tax? GST Council Il Central Board of Indirect Taxes and Customs Goods and Services Tax Network Choose the correct answer using the codes a) only b) and lI c) and lIlI d) , Il and Ill
Question 7 Integrated Goods and Services Tax (IGST) is levied by a) GST Council b) Central Government c) State Government d) Foreign Exchange Reserves
Question 8 Which of the following is the first Payments Bank of India? a) India Post Payments Bank b) Airtel Payments Bank c) Paytm Payments Bank d) Aditya Birla Idea Payments Bank
Question 8 Answer : b Explanation Airtel Payments Bank is the first payments bank in India. It has started its service in Rajasthan in March, 2017. Following that, India Post Payments Bank, Paytm Payments Bank and Fino Payments Bank have started their service. On 19 August 2015, the Reserve Bank of India gave licenses to eleven entities to launch payments banks.
Question 9 Which of the following is not correct about Payments Banks? a) Payments Banks can issue debit cards b) Payments Banks can issue credit cards c) Payments Banks can accept deposits up to 1 lakh d) Payments Banks can sell mutual funds and insurance products.