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Indian Economy MCQ Question and Answer

1.In which of the following years was the Food Corporation of India (FCI) set up?

  • A1955
  • B1960
  • C1965
  • D1970
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Correct Answer : (C)

1965
Explanation:

2.SIDBI has been established to:

  • AFinance cottage industries
  • BFinance small scale industries
  • CFinance large scale industries
  • DFinance public sector undertakings
Answer / Hint Save Question
Correct Answer : (B)

Finance small scale industries
Explanation:

3.Bhilai Steel Plant is the collaborative project of Indian Government and 

  • ASoviet Russia
  • BBritain
  • CGermany
  • DPoland
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Correct Answer : (A)

Soviet Russia
Explanation:

Bhilai Steel Plant is the collaborative project of Indian Government and Soviet Russia.

4.??. Is the most industrially advanced State in India?

  • AMaharashtra
  • BPunjab
  • CGujarat
  • DTamil Nadu
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Correct Answer : (A)

Maharashtra
Explanation:

5.??.. is also called ?sunrise? Industry :

  • ACopper
  • BPlastic
  • CAutomobile
  • DJewellery
Answer / Hint Save Question
Correct Answer : (C)

Automobile
Explanation:

6.Which amongst the following currencies is the costliest?

  • AFrench Franc
  • BSwiss Franc
  • CEuro
  • DPound Sterling
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Correct Answer : (D)

Pound Sterling
Explanation:

7.Inflation is caused by :

  • AIncrease in supply of goods
  • BIncrease in cash with the Government
  • CDecrease in money supply
  • DIncrease in money supply
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Correct Answer : (D)

Increase in money supply
Explanation:

8.Devaluation usually causes the internal prices to :

  • AFall
  • BRise
  • CRemain unchanged
  • DNone of these
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Correct Answer : (C)

Remain unchanged
Explanation:

9.Currency notes of Rs 2 denomination and above are liabilities of:

  • AGovernment of India
  • BReserve Bank of India
  • CState bank of India
  • DAll of these
Answer / Hint Save Question
Correct Answer : (B)

Reserve Bank of India
Explanation:

10.In India, one-rupee coins and notes and subsidiary coins are issued by:

  • AThe Reserve Bank of India
  • BThe Central Government
  • CThe State Bank of India
  • DThe Unit Trust of India
Answer / Hint Save Question
Correct Answer : (B)

The Central Government
Explanation:

11.The Process of curing inflation by reducing money supply is called

  • ACost-Push Inflation
  • BDown-pull Inflation
  • CDisinflation
  • DReflation
Answer / Hint Save Question Comment On Question
Correct Answer : (C)

Disinflation
Explanation:

The Process of curing inflation by reducing money supply is called Disinflation.

12.Who has the sole right to issue paper currency in India?

  • AThe Government of India
  • BThe Finance Commission
  • CThe Central Bank of India
  • DThe Reserve Bank of India
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Correct Answer : (D)

The Reserve Bank of India
Explanation:

The Reserve Bank of India has the sole right to issue paper currency in India.

13.The present Indian monetary system is based on

  • AGold Reserve System
  • BProportional Reserve System
  • CConvertible Currency System
  • DMinimum Reserve System
Answer / Hint Save Question Comment On Question
Correct Answer : (D)

Minimum Reserve System
Explanation:

The present Indian monetary system is based on Minimum Reserve System.

14.Many a time we read a tern in financial newspapers GDR. What is the full form of the same?

  • AGlobal Depository Receipts
  • BGlobal Domestic Ratio
  • CGross Domestic Revenue
  • DGross Depository Revenue
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Correct Answer : (A)

Global Depository Receipts
Explanation:

15.The stock market index of London Stock Market is referred as:

  • ASensex
  • BNIFTY
  • CFootsic (FTSE)
  • DBullish
Answer / Hint Save Question
Correct Answer : (C)

Footsic (FTSE)
Explanation:

16.Which of the following organizations is known as Market Regulator in India?

  • AIBA
  • BSEBI
  • CAMFI
  • DNSDL
Answer / Hint Save Question
Correct Answer : (B)

SEBI
Explanation:

17.Devaluation of rupee in India was first introduced in the year

  • A1949
  • B1966
  • C1972
  • D1990
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Correct Answer : (A)

1949
Explanation:

Devaluation of rupee in India was first introduced in the year 1949.

18.Which bank was earlier called the “Imperial Bank of India”?

  • ARBI
  • BSBI
  • CUBI
  • DPNB
Answer / Hint Save Question Comment On Question
Correct Answer : (B)

SBI
Explanation:

SBI bank was earlier called the “Imperial Bank of India”.

19.The abbreviation “NABARD” stands for :

  • ANational Bank for Agricultural and Rural Development
  • BNational Bank for Agricultural  Refinance and Development
  • CNational Board of Agricultural Research and Development
  • DNational Academy of Banking on Agricultural Research and Development
Answer / Hint Save Question Comment On Question
Correct Answer : (A)

National Bank for Agricultural and Rural Development
Explanation:

The abbreviation “NABARD” stands for  National Bank for Agricultural and Rural Development.

NABARD : National Bank for Agricultural and Rural Development.

20.Indian's largest Commercial Bank is

  • ACentral Bank of India
  • BState Bank of India
  • CIndian Overseas Bank
  • DBank of India
Answer / Hint Save Question Comment On Question
Correct Answer : (B)

State Bank of India
Explanation:

Indian's largest Commercial Bank is State Bank of India.

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