Economics GK Questions & Answers: Economics Quiz

31) At which of the following levels, Central Cooperative Banks are established in India?

(A) District Level

(B) State Level

(C) Inter-state level

(D) India Level

Answer: A (District Level)

32) Which among the following is correct about an Equity Fund?

(A) It gives fixed returns

(B) It invest in both debt and shares

(C) It invests primarily in shares

(D) It assures growth in value

Answer: C (It invests primarily in shares)

33) Which among the following is not a correct statement?

(A) PACS provide loans to its members at village level

(B) In India, Maximum Cooperative societies are in agriculture sector

(C) Banks are allowed to give loan against their own shares

(D) Taccavi Loans are given at the time of the difficulties and crises

Answer: C (Banks are allowed to give loan against their own shares)

34) Any banking company can undertake any business other than the banking business in accordance with the provisions contained in which among the following act?

(A) Reserve Bank of India Act

(B) Negotiable Instruments Act

(C) Banking Regulation Act

(D) None of the above

Answer: C (Banking Regulation Act)

35) Which among the following is popularly known as mercantile law of India?

(A) Contract Law

(B) Law of Torts

(C) Labour Law

(D) Property Law

Answer: A (Contract Law)

36) How many banks are promoting the National Payments Corporation of India (NPCI)?

(A) 7

(B) 9

(C) 10

(D) 12

Answer: C (10)

37) What is the Value Added Tax (VAT)?

(A) A single tax that replaces State Taxes like surcharge, turnover tax, etc.

(B) A simple, transparent, easy to pay tax imposed on consumers.

(C) A new initiative taken by the government to increase the tax burden of high income groups.

(D) A new tax to be imposed on the producers of capital goods.

Answer: A (A single tax that replaces State Taxes like surcharge, turnover tax, etc.)

38) One of the following banks is the oldest Public Sector Bank in India having branches all over India and serving the customers for the last 145 years and even today. Identify that Bank:

(A) Punjab National Bank

(B) Central Bank of India

(C) State Bank of India

(D) Allahabad Bank

Answer: D (Allahabad Bank)

39) For which of the following, the Reserve Bank of India has stipulated a maximum Capital Adequacy Requirements in India?

(A) Private Sector Banks

(B) Banks that Undertake Insurance Business

(C) Local Area Banks

(D) Scheduled Commercial Banks

Answer: C (Local Area Banks)

40) From which of the following financial years, Seed Crop Insurance began in India?

(A) 1999-2000

(B) 1998-1999

(C) 2001-2002

(D) 2002-2003

Answer: A (1999-2000)

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