Indian Economy GK Quiz-2

1. The census in India is done after a gap of every
Ans : 10 yrs.


2. Insurance service perovided by various banks is commonly known as

Ans : Bancassurance


3. National Sample Survey Organisation (NSSO) was established in?

Ans : 1950


4. What is the full form of FCCBs?
Ans : Foreign Currency Convertible bonds


5. Which state stands first in the length of roads in the country?
Ans : Maharashtra


6. When was Focus Market Scheme introduced?
Ans : 2006-07


7. What is the full form of ‘NBFC’ as used in the financial sector?
Ans : New Banking and Finance Corporation


8. The central banking functions in India are performed by the?
Ans : Reserve Bank of India


9. Which among the following body promoted securities Trading Corporation of India Limited (STCI) jointly with the Public sector Banks?
Ans : Reserve bank Of India


10. Gilt-edged market means
Ans : market of government securities


11. In the last one decade, which one among the following sectors has attracted the highest foreign direct investment inflows into India?
Ans : Telecommunication


12. Devaluation of a currency means
Ans : Reduction in the value of a currency vis-a-vis major internationally traded currencies


13. The chairman of the 14th Finance Commission is
Ans : Y.V. Reddy


14. When there is an inflationary trend in the economy what would be trend in the pricing of the Bank products?
Ans : Increasing trend

15. Decimal coinage was introduced in India in the year
Ans :  1957


16. Recently, government approved levying of Rs 650 crore penalty, on which of the following telecommunication company for violating roaming norms?
Ans : Bharati Airtel


17. The Tenth Plan period was from
Ans : 2002–2007


18. National Rural Development Institute is situated at
Ans : Hyderabad


19. In commidity exchange in India, Index Futures are not permitted, as some of the provision of the FCRA do not allow the same. What is the full form of FCRA?
Ans : Foreign Contribution Regulation Act.

20. Who introduced cooperative society in India?
Ans : Lord Curzon


21. Which Indian got Nobel Prize for Economics?

Ans : Amarthiya Sen


22. The Headquarter of RBI is in
Ans : Mumbai


23. National Income estimates in India is prepared by
C.S.O.(Central Statistics Office)


24. Dalal street is situated at
Ans : Mumbai


25. What is the full form of the term ‘NPA’ as used in banking environment?
Ans : Non-performing assets


26. On July 12, 1982, the ARDC was merged into


27. The first wholly Indian Bank was set up in
Ans : 1894


28. Which of the following is the first Indian private company to sign an accord with Government of Myanmar for oil exploration in two offshore blocks in that country?
Ans : Essar Oil


29. Which among the following correctly defines the Net Interest Income (NII) for banks?
Ans : Difference between interest earned and interest paid


30. The former name of State Bank of India was
Ans : Imperial Bank of India


31. The value of Gold is determined in
Ans : London


32. Deficit financing means that the government borrows money from the
Ans :RBI


33. The Board of Industrial and Financial Reconstruction (BIFR) came into existence in
Ans : 1987


34. The currency notes are printed in
Ans : Nasik


35. The banks are required to maintain a certain ratio between their cash in the hand and totals assets. This is called
Statutory Liquid Ratio (SLR)


36. Reserve Bank of India was nationalized in the year
Ans : 1949


37. How many banks were nationalized in 1969?
Ans : 14


38. In India, the first bank of limited liability manages by Indians and founded in 1881 was
Ans : Oudh Commercial Bank


39. Subsidies mean
Ans : payment made by the government to business enterprises, without buying any goods and services


40. In India, which one among the following formulates the fiscal policy?
Ans : Ministry of Finance


41. Paper currency first started in India in
Ans : 1542


42. The ARDC is now a branch of the


43. Since 1983, the RBI’s responsibility with respect to regional rural banks was transferred to


44. MRTP Act was implemented in
Ans : 1970


45. Regional Rural Banks were established in
Ans : 1975


46. Consumer Protection Act (CORPA) was implemented in
Ans : 1987


49. Foreign currency which has a tendency of quick migration is called
Ans : Hot currency


50. Which institution is known as Soft loan window of World Bank?
Ans : IFC


51. The New Symbol of Indian Rupee is a blend of
Ans : Devanagiri Ra and Roman


52. Which is the most important source of income for Government of India?
Ans : Excise duty


53. In India, barter exchange is still in practice in
Ans : Calcutta


54. The planning Commission was reconstituted in
Ans : March 1950


55. The state which has the highest sugarcane production in India is
Uttar Pradesh


56. The currency Deutsche Mark belongs to


57. In which of the following the first Mutual funds in India were
Ans : 1964


58. Which of the following organization publishes the “World Investment Report” annually?


59. Who declares the Credit Policy of India?
Ans : Reserve Bank of India


60. Bajaj Auto announced its tie-up with which bank to offer inventory finance to its dealers?
Ans : State Bank ofIndia

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