1. Which of the following is/are the highlights of the Union Budget 2009-10 ? The Finance Minister promised1. To bring fiscal deficit under control, institutional reforms will be initiated during the year.
2. Banks and insurance companies will remain in public sector and government will provide full support to these institutions to remain competitive by capital infusion, wherever necessary.
3. Banks will be allowed to set up offsite ATMs without prior approval from the RBI.
(A) Only 1
(B) Only 2
(C) Only 3
(D) Only 1 and 3
(E) All 1, 2 and 3
Ans : (E)
2. As per the reports published in various newspapers/magazines and journals, the year 2008 was an important milestone in the evaluation of human settlements. For the first time in the human history, the population living in urban areas exceeded that in rural areas. What is India’s position in this regard ?1. India is a relatively less urbanized country with only 30% of its total population living in cities.
2. The size of its urban population is the second largest in the world.
3. India has more than 100 biggest cities in the world.
(A) Only 1
(B) Only 2
(C) Only 1 and 2
(D) All 1, 2 and 3
(E) None of these
Ans : (E)
3. According to Dr. Mohammad Yunus, the Nobel prize winner Economist, a particular type of financing undertaken by the banks, has created a miraculous situation where every year about 5 per cent clients of the Grameen Banks come out of their poverty and join the main stream of the socio economic development in poor/developing countries. This financing activity of the banks in known as—(A) Trade Finance
(B) Micro Credit
(C) Export finance
(D) All of these
(E) None of these
Ans : (B)
4. As per the reports published by the International Monetary Fund (IMF), the developing economies across the world are holding a massive stockpile of foreign exchange reserves. Which of the following is/are the resultant consequences of this type of stockpilings by various nations ?1. A trade imbalance (vast difference in value of imports/exports) is generated between the developing and emerging economies and the rich countries. It is not a healthy sign.
2. Many economists are of the opinion that these imbalances created the underpinning of the current global economic crisis.
3. This stockpiling is responsible not only for problems in trade balances but has also created a problem of money laundering.
(A) Only 1
(B) Only 2
(C) Only 3
(D) Only 1 and 2
(E) All 1, 2 and 3
Ans : (E)
5. Which of the following is/are true about the Railway Budget 2009-10 ?1. Railway tickets to be made available through post offices and mobile vans.
2. Long distance trains will have on-board doctor and infotainment services.
3. Tatkal scheme of booking is modified. Instead of booking tickets under the scheme five days in advance, it can now be done only two days in advance.
(A) Only 1
(B) Only 2
(C) Only 3
(D) All 1, 2 and 3
(E) None of these
Ans : (D)
6. The Govt. of India has set up a special group to devise a long term pricing formula, so that it can cope up with the prevailing global volatility in the prices of which of the following commodities ?(A) Sugar
(B) Paddy
(C) Crude oil and Petroleum
(D) Gold
(E) Pulses
Ans : (C)
7. Which of the following is not included in the core sectors of Indian economy ?(A) Transport
(B) Coal
(C) Steel
(D) Cement
(E) Electricity
Ans : (A)
8. As we all know India has a threetier structure of tax administration. There are taxes levied by Central Govt., State Govts. and Local Govts. Which of the following taxes is levied by the Local Government Bodies ?(A) Value Added Tax
(B) Stamp Duty
(C) Service Tax
(D) Land Revenue
(E) Tax on water supply and drainage etc.
Ans : (E)
9. What was the amount sanctioned by the Govt. of India during 2008-09 for providing drinking water to rural parts of India ?(A) Rs. 30,000 crore
(B) Rs. 40,000 crore
(C) Rs. 53,000 crore
(D) Rs. 60,000 crore
(E) Rs. 73,000 crore
Ans : (E)
10. The Reserve Bank of India has reconstituted the Technical Advisory Committee (TAC) on monetary policy with effect from 1st July 2009. Who is the Chairperson of the same ?(A) D. Subbarao
(B) K. C. Chakrabarty
(C) Shyamala Gopinath
(D) Usha Thorat
(E) None of these
Ans : (E)
11. Which of the following statements about the ‘State of Indian Economy, during 2008-09 is/are true ?1. The growth of real GDP during 2008-09 was recorded at 6•7%, compared to 9% during 2007-08.
2. The fiscal deficit was the greatest cause of concern as it exceeded the budget estimates and stood at 13%.
3. Forex reserves were at a very comfortable position as India got a lot of FDIs and FIIs during the year. However, 60% of the reserves were deployed to manage oil and petroleum imports and subsidies on all such products.
(A) Only 1
(B) Only 2
(C) Only 3
(D) All 1, 2 and 3
(E) None of these
Ans : (A)
12. Many times we see a term ‘PPP in financial newspapers. One full form of it is ‘Private Public Partnership’. What is another version of the same also used in the financial world ?(A) Perfect, Preferred and Protected
(B) Point to Point Protocol
(C) Power Point Presentation
(D) Purchasing Power Parity
(E) None of these
Ans : (B)
13. As per the announcement made recently, the Govt. of India is going to launch a National Mission for which of the following in near future ?(A) National Mission for Female Literacy
(B) National Mission for Abolishing Child Labour
(C) National Mission for Computer Literacy
(D) National Mission for protecting the Rights of Physically Challenged
(E) None of these
Ans : (A)
14. Which of the following is one of the most successful programmes under Bharat Nirman ?(A) Pradhan Mantri Gram Sadak Yojana
(B) Watershed Development Scheme
(C) Rajiv Gandhi Grameen Vidyutikaran Yojana
(D) Indira Awas Yojana
(E) None of these
Ans : (D)
15. As we all know ‘Mobile Banking’ is comparatively a new mode of banking all over the world, what is its status in India ?1. The willingness to conduct banking through mobile devices is higher in India.
2. About 4% of total m -commerce transactions have taken place in the first few months of the current fiscal year in India.
3. Since RBI’s permission is needed for offering mobile banking, only two private banks are providing this service at present.
(A) Only 1
(B) Only 2
(C) Only 3
(D) All 1, 2 and 3
(E) None of these
Ans : (C)
16. Which of the following is/are true about the Pradhan Mantri Adarsh Gram Yojana (PMAGY) to be launched soon ?1. The scheme will be launched in one village of each district in U.P., Bihar and Rajasthan as a pilot project.
2. The scheme is only for villages where the 50 per cent population is of Scheduled Castes.
3. An amount of Rs. 1,00,000 crore is provided for the scheme out of which 50% will come as grant-in-aid from the UNO.
(A) Only 1
(B) Only 2
(C) Only 3
(D) All 1, 2 and 3
(E) None of these
Ans : (B)
17. As per the recent announcement made by the Govt. of India, a special One Time Grant of Rs. 100 crore is given to which of the following organizations ?(A) Administrative Staff College of India (Hyderabad)
(B) Tata Institute of Social Sciences (Mumbai)
(C) International Institute for Population Sciences (Mumbai)
(D) Indian Institute of Technology (Delhi)
(E) Indian Council of Forestry Research and Education (Dehradun)
Ans : (E)
18. Many times we hear about the ‘Banking Ombudsman’. What is/are the major roles of same ?1. Banking Ombudsman is a quasi judicial authority having powers to summon, the banks and the customers both in case of dispute.
2. The Banking Ombudsman are appointed by the President of India and are retired judges of the High or Supreme Courts.
3. The decisions/judgements given by the Banking Ombudsman cannot be taken to any court of justice as their decisions are last in case of bank related problems/disputes.
(A) Only 1
(B) Only 2
(C) Only 3
(D) All 1, 2 and 3
(E) None of these
Ans : (A)
19. Who amongst the following is the Union Home Minister at present ?(A) Kapil Sibbal
(B) Sharad Pawar
(C) P. Chidambaram
(D) Murli Deora
(E) None of these
Ans : (C)
20. Which of the following is NOT prescribed/recommended by the Economic Survey 2008-09 presented to the Lok Sabha recently ?(A) Allow 49% FDI in defence and insurance sectors
(B) Decontrol diesel and petroleum prices
(C) Increase exemption limit on personal income tax upto Rs. 5,00,000
(D) List all unlisted PSUs and sell a minimum 10% equity to public
(E) Decontrol sugar and fertilizer
Ans : (C)
2. Banks and insurance companies will remain in public sector and government will provide full support to these institutions to remain competitive by capital infusion, wherever necessary.
3. Banks will be allowed to set up offsite ATMs without prior approval from the RBI.
(A) Only 1
(B) Only 2
(C) Only 3
(D) Only 1 and 3
(E) All 1, 2 and 3
Ans : (E)
2. As per the reports published in various newspapers/magazines and journals, the year 2008 was an important milestone in the evaluation of human settlements. For the first time in the human history, the population living in urban areas exceeded that in rural areas. What is India’s position in this regard ?1. India is a relatively less urbanized country with only 30% of its total population living in cities.
2. The size of its urban population is the second largest in the world.
3. India has more than 100 biggest cities in the world.
(A) Only 1
(B) Only 2
(C) Only 1 and 2
(D) All 1, 2 and 3
(E) None of these
Ans : (E)
3. According to Dr. Mohammad Yunus, the Nobel prize winner Economist, a particular type of financing undertaken by the banks, has created a miraculous situation where every year about 5 per cent clients of the Grameen Banks come out of their poverty and join the main stream of the socio economic development in poor/developing countries. This financing activity of the banks in known as—(A) Trade Finance
(B) Micro Credit
(C) Export finance
(D) All of these
(E) None of these
Ans : (B)
4. As per the reports published by the International Monetary Fund (IMF), the developing economies across the world are holding a massive stockpile of foreign exchange reserves. Which of the following is/are the resultant consequences of this type of stockpilings by various nations ?1. A trade imbalance (vast difference in value of imports/exports) is generated between the developing and emerging economies and the rich countries. It is not a healthy sign.
2. Many economists are of the opinion that these imbalances created the underpinning of the current global economic crisis.
3. This stockpiling is responsible not only for problems in trade balances but has also created a problem of money laundering.
(A) Only 1
(B) Only 2
(C) Only 3
(D) Only 1 and 2
(E) All 1, 2 and 3
Ans : (E)
5. Which of the following is/are true about the Railway Budget 2009-10 ?1. Railway tickets to be made available through post offices and mobile vans.
2. Long distance trains will have on-board doctor and infotainment services.
3. Tatkal scheme of booking is modified. Instead of booking tickets under the scheme five days in advance, it can now be done only two days in advance.
(A) Only 1
(B) Only 2
(C) Only 3
(D) All 1, 2 and 3
(E) None of these
Ans : (D)
6. The Govt. of India has set up a special group to devise a long term pricing formula, so that it can cope up with the prevailing global volatility in the prices of which of the following commodities ?(A) Sugar
(B) Paddy
(C) Crude oil and Petroleum
(D) Gold
(E) Pulses
Ans : (C)
7. Which of the following is not included in the core sectors of Indian economy ?(A) Transport
(B) Coal
(C) Steel
(D) Cement
(E) Electricity
Ans : (A)
8. As we all know India has a threetier structure of tax administration. There are taxes levied by Central Govt., State Govts. and Local Govts. Which of the following taxes is levied by the Local Government Bodies ?(A) Value Added Tax
(B) Stamp Duty
(C) Service Tax
(D) Land Revenue
(E) Tax on water supply and drainage etc.
Ans : (E)
9. What was the amount sanctioned by the Govt. of India during 2008-09 for providing drinking water to rural parts of India ?(A) Rs. 30,000 crore
(B) Rs. 40,000 crore
(C) Rs. 53,000 crore
(D) Rs. 60,000 crore
(E) Rs. 73,000 crore
Ans : (E)
10. The Reserve Bank of India has reconstituted the Technical Advisory Committee (TAC) on monetary policy with effect from 1st July 2009. Who is the Chairperson of the same ?(A) D. Subbarao
(B) K. C. Chakrabarty
(C) Shyamala Gopinath
(D) Usha Thorat
(E) None of these
Ans : (E)
11. Which of the following statements about the ‘State of Indian Economy, during 2008-09 is/are true ?1. The growth of real GDP during 2008-09 was recorded at 6•7%, compared to 9% during 2007-08.
2. The fiscal deficit was the greatest cause of concern as it exceeded the budget estimates and stood at 13%.
3. Forex reserves were at a very comfortable position as India got a lot of FDIs and FIIs during the year. However, 60% of the reserves were deployed to manage oil and petroleum imports and subsidies on all such products.
(A) Only 1
(B) Only 2
(C) Only 3
(D) All 1, 2 and 3
(E) None of these
Ans : (A)
12. Many times we see a term ‘PPP in financial newspapers. One full form of it is ‘Private Public Partnership’. What is another version of the same also used in the financial world ?(A) Perfect, Preferred and Protected
(B) Point to Point Protocol
(C) Power Point Presentation
(D) Purchasing Power Parity
(E) None of these
Ans : (B)
13. As per the announcement made recently, the Govt. of India is going to launch a National Mission for which of the following in near future ?(A) National Mission for Female Literacy
(B) National Mission for Abolishing Child Labour
(C) National Mission for Computer Literacy
(D) National Mission for protecting the Rights of Physically Challenged
(E) None of these
Ans : (A)
14. Which of the following is one of the most successful programmes under Bharat Nirman ?(A) Pradhan Mantri Gram Sadak Yojana
(B) Watershed Development Scheme
(C) Rajiv Gandhi Grameen Vidyutikaran Yojana
(D) Indira Awas Yojana
(E) None of these
Ans : (D)
15. As we all know ‘Mobile Banking’ is comparatively a new mode of banking all over the world, what is its status in India ?1. The willingness to conduct banking through mobile devices is higher in India.
2. About 4% of total m -commerce transactions have taken place in the first few months of the current fiscal year in India.
3. Since RBI’s permission is needed for offering mobile banking, only two private banks are providing this service at present.
(A) Only 1
(B) Only 2
(C) Only 3
(D) All 1, 2 and 3
(E) None of these
Ans : (C)
16. Which of the following is/are true about the Pradhan Mantri Adarsh Gram Yojana (PMAGY) to be launched soon ?1. The scheme will be launched in one village of each district in U.P., Bihar and Rajasthan as a pilot project.
2. The scheme is only for villages where the 50 per cent population is of Scheduled Castes.
3. An amount of Rs. 1,00,000 crore is provided for the scheme out of which 50% will come as grant-in-aid from the UNO.
(A) Only 1
(B) Only 2
(C) Only 3
(D) All 1, 2 and 3
(E) None of these
Ans : (B)
17. As per the recent announcement made by the Govt. of India, a special One Time Grant of Rs. 100 crore is given to which of the following organizations ?(A) Administrative Staff College of India (Hyderabad)
(B) Tata Institute of Social Sciences (Mumbai)
(C) International Institute for Population Sciences (Mumbai)
(D) Indian Institute of Technology (Delhi)
(E) Indian Council of Forestry Research and Education (Dehradun)
Ans : (E)
18. Many times we hear about the ‘Banking Ombudsman’. What is/are the major roles of same ?1. Banking Ombudsman is a quasi judicial authority having powers to summon, the banks and the customers both in case of dispute.
2. The Banking Ombudsman are appointed by the President of India and are retired judges of the High or Supreme Courts.
3. The decisions/judgements given by the Banking Ombudsman cannot be taken to any court of justice as their decisions are last in case of bank related problems/disputes.
(A) Only 1
(B) Only 2
(C) Only 3
(D) All 1, 2 and 3
(E) None of these
Ans : (A)
19. Who amongst the following is the Union Home Minister at present ?(A) Kapil Sibbal
(B) Sharad Pawar
(C) P. Chidambaram
(D) Murli Deora
(E) None of these
Ans : (C)
20. Which of the following is NOT prescribed/recommended by the Economic Survey 2008-09 presented to the Lok Sabha recently ?(A) Allow 49% FDI in defence and insurance sectors
(B) Decontrol diesel and petroleum prices
(C) Increase exemption limit on personal income tax upto Rs. 5,00,000
(D) List all unlisted PSUs and sell a minimum 10% equity to public
(E) Decontrol sugar and fertilizer
Ans : (C)
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