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MCQs

Total Questions : 10
Question 1.


Consider the following functions:
1. Issue of bank notes of all denominations.
2. Lender of the last resort
3. Underwrite the loans of state and central governments.
4. Periodic inspection of commercial banks
Which of the above are functions of the Reserve Bank of India?


  1.     1, 2 and 4
  2.     1 and 4
  3.     1,2, 3 and 4
  4.     1 and 3
 Discuss Question
Answer: Option A. -> 1, 2 and 4
:
A


Option: (a)


Question 2.


Which of the following is not an objective of the monetary policy of RBI?


  1.     Boost economic development
  2.     Direct credit in desirable direction
  3.     Control inflationary pressure
  4.     Ensure social justice
 Discuss Question
Answer: Option D. -> Ensure social justice
:
D


Option: (d)


Question 3.


The new definition of fiscal deficit was suggested by:


  1.     Chelliah Committee
  2.     Chakravarthy Committee
  3.     Rekhi Committee
  4.     Rangarajan Committee
 Discuss Question
Answer: Option B. -> Chakravarthy Committee
:
B


Option: (b)


Question 4.


Chelliah Committee (1992-93) recommended that in Income Tax there should be:


  1.     higher rates
  2.     broader spread between minimum and maximum rates
  3.     minimum incentives
  4.     maximum of incentives
 Discuss Question
Answer: Option C. -> minimum incentives
:
C


Option: (c)


Question 5.


RBI does not transact the business of which state government?


  1.     Nagaland
  2.     J&K
  3.     Punjab
  4.     Assam
 Discuss Question
Answer: Option B. -> J&K
:
B


Option: (b)


Question 6.


Direct taxation is a better form of taxation because:


  1.     it fetches more revenue
  2.     it can be more easily collected
  3.     it allows for taxation according to means
  4.     it has greater tax compliance
 Discuss Question
Answer: Option C. -> it allows for taxation according to means
:
C


Option: (c)


Question 7.


Bank rate refers to:


  1.     the rate at which banks lend to its prime borrowers
  2.     the maximum rate that banks can pay for deposit
  3.     the rate at which banks rediscount bills with RBI
  4.     the rate of interest charged on inter-bank transactions
 Discuss Question
Answer: Option C. -> the rate at which banks rediscount bills with RBI
:
C


Option: (c)


Question 8.


Tarapore Committee recommended that before capital account was made convertible the rate of inflation should be brought down for three years within:


  1.     3-4%
  2.     0-3%
  3.     4-6%
  4.     5-7%
 Discuss Question
Answer: Option A. -> 3-4%
:
A


Option: (a)


Question 9.


Narasimham Committee recommended that SLR should be brought down to:


  1.     10%
  2.     11%
  3.     20%
  4.     25%
 Discuss Question
Answer: Option D. -> 25%
:
D


Option: (d)


Question 10.


Open market operation of RBI refers to:


  1.     buying and selling of shares
  2.     auctioning of foreign exchange
  3.     trading in securities
  4.     transaction in gold
 Discuss Question
Answer: Option C. -> trading in securities
:
C


Option: (c)


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