Indian EconomyGeneral Awareness SSC

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Question1) Which of the following is not a correct statement with respect to Masala Bonds? 


[A] They allow Indian companies to raise overseas debts in Indian currency

[B] Interest Payment on Masala Bonds is in Indian Rupee 

[C] Most popular market for Masala Bonds is New York currently

[D] All of the above are correct statements



Option- ['A', 'B', 'C', 'D']

Answer: C

Explaination: Correct Answer: C [Most popular market for Masala Bonds is New York currently]


Notes:

Masala bonds allow Indian companies to raise overseas debt in the Indian currency. The instrument shields the issuers from currency fluctuations mainly because interest payments and redemption is in rupees. At the same time, investors get interest rates that are higher than in their domestic markets. In third statement, the most popular market for Masala bonds currently is London. 



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Question2) Which of the following is main objective of Aadhaar Pay?


[A] To enable peer-to-peer money transaction 

[B] To enable merchants to receive digital payments using Aadhaar 

[C] To integrate UPI with Aadhaar 

[D] To link Jan-Dhan Accounts with Aadhaar number



Option- ['A', 'B', 'C', 'D']

Answer: B

Explaination: Correct Answer: B [ To enable merchants to receive digital payments using Aadhaar ]


Notes:

Aadhaar Pay is proposed to be launched in April, 2017 and is meant for merchants to receive digital payments from customers over the counter through Aadhaar authentication.



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Question3) Which of the following is/are Money Market Instruments?


[A] Treasury Bills

[B] Commercial Papers

[C] Certificate of Deposits

[D] All of the above



Option- ['A', 'B', 'C', 'D']

Answer: D

Explaination: Correct Answer: D [All of the above]


Notes:

Money market securities are debt issues with maturities of one year or less. Treasury Bills, Certificate of Deposit as well as Commercial papers are money market instruments.



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Question4) Which of the following was the first paper currency issued by RBI?


[A] Rs 1-Note

[B] Rs 2-Note

[C] Rs 5 Note

[D] Rs 100 Note



Option- ['A', 'B', 'C', 'D']

Answer: C

Explaination: Correct Answer: C [Rs 5 Note]


Notes:

The Rs 5-note was the first paper currency issued by RBI in January 1938. The Reserve Bank of India (RBI) is India’s central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934.



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Question5) At which of the following places, printing press of Reserve Bank of India is not present?


[A] Nashik

[B] Dewas

[C] Salboni

[D] Mumbai



Option- ['A', 'B', 'C', 'D']

Answer: D

Explaination: Correct Answer: D [Mumbai]


Notes:

For printing of notes, the Security Printing and Minting Corporation of India Limited (SPMCIL), has set up printing presses at Nashik, Maharashtra and Dewas, Madhya Pradesh. The Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) has set up printing presses in Mysuru in Karnataka and Salboni in West Bengal. In all, there are four printing presses.



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Question6) Which among the following is the oldest insurance company of India?


[A] Oriental Life Insurance Company

[B] Life Insurance Company of India

[C] General Assurance Company of India

[D] None of them



Option- ['A', 'B', 'C', 'D']

Answer: A

Explaination: Correct Answer: A [Oriental Life Insurance Company]


Notes:

The Oriental Life Insurance Company was the first Life Insurance Company in India that was established in Calcutta in 1818, though it failed in 1834.



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Question7) Who among the following from India functions as the ex-officio Governor on the Board of Governors of the International Monetary Fund?


[A] President

[B] Prime minister

[C] Finance minister

[D] RBI governor



Option- ['A', 'B', 'C', 'D']

Answer: C

Explaination: Correct Answer: C [Finance minister]


Notes:

India is a founder member of the International Monetary Fund. Finance Minister is the ex-officio Governor on the Board of Governors of the IMF and Governor, RBI is India`s Alternate Governor. India is represented at the IMF by an Executive Director who also represents three other countries, viz. Bangladesh, Sri Lanka and Bhutan.



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Question8) In which year “Zero Based Budgeting” started in India ?


[A] 1960

[B] 1983

[C] 1991

[D] 2000



Option- ['A', 'B', 'C', 'D']

Answer: B

Explaination: Correct Answer: B [1983]


Notes:

This technique of budgeting was developed by Peter Phyrr and was first implemented at Texas Instruments in the 1960s. In India, the system was first implemented in the Department of Science and Technology in the year 1983.



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