GK Questions on Economics for SLAT

Questions

1. What is meant by the repo rate?

• the rate at which banks can park their money with the RBI
• the rate at which the RBI lends money to the banking system for a short duration
• the rate at which a commercial bank lends money to the borrower
• None of these

1. Who holds the post of Governor of Reserve Bank of India?

• Urjit Patel
• Shaktikanta Das
• Nirmala Sitharaman
• None of these

1. Which institution is referred to as Banker’s Bank of India?

• Ministry of Finance
• Ministry of Home Affairs
• World Bank
• Reserve Bank of India

1. The law of demand defines the relation between

• Quantity Demanded and Quantity Supplied
• Income and Price
• Price and Quantity
• Income and quantity

1. India has landed at which position in the World Bank’s Ease of Doing Business 2020?

• 70th
• 63rd
• 112th
• 50th

1. The MD of which financial organisation has won the Lifetime Achievement Award by Euromoney Awards of Excellence 2020?

• ICICI
• HDFC
• Central Bank of India
• None of the above

1. Who is referred to as the Father of Economics?

• Adam Smith
• John Keynes
• Alfred Marshall
• Milton Friedman

1. Regional Rural Bank was established in which year?

• 1986
• 1975
• 1992
• 1961

1. The full form of development bank NABARD is

• National Bank for Agriculture and Rural Development
• National Bank for Agriculture and Regional Development
• National Bank for All round Rural Development
• None of the above

1. Who was the first Finance Minister of independent India?

• Shanmukham Chetty
• Liaquat Ali Khan
• D. Deshmukh
• Morarji Desai

1. ________ is the reserve that the commercial banks are required to maintain the form of cash, gold reserves, RBI approved securities and PSU bonds.

• CRR
• SRR
• SLR
• RRP

1. Which of the following is not a valid denomination in the economy of India?

• 100
• 200
• 1000
• 50

1. Which authority in India calculates the nation’s Gross Domestic Product?

• Ministry of Finance
• Income Tax Department
• Central Statistics Office
• Reserve Bank of India

1. The banks in India were first Nationalised in

• 1992
• 1969
• 1976
• 1965

1. Economic Liberalisation was done in 1991-92 through LPG Policy? Who was serving as the Finance Minister at that point of time?

• P V Narasimha Rao
• Manmohan Singh
• Pranab Mukherjee
• P Chidambaram

Answers

1. (b)
2. (b)
3. (d)
4. (c)
5. (b)
6. (b)
7. (a)