1.What is the number of members in the Monetary Policy Committee (MPC)?

[A] 4
[B] 5
[C] 6
[D] 7

 

Correct Answer: C [ 6 ]

Notes:
MPC has all six members.

2.In September 1999, which organization established the Poverty Reduction and Growth Facility (PRGF) to make the objectives of poverty reduction and growth more central to lending operations in its poorest member countries?

[A] Asian Development Bank
[B] International Monetary Fund
[C] World Bank
[D] US Federal Bank

 

Correct Answer: B [International Monetary Fund]

Notes:
The Poverty Reduction and Growth Facility (PRGF) was set up by the International Monetary Fund in September 1999. Its objective was to formulate policies focusing on growth and poverty reduction.

3.Which among the following maintains Real Time Gross Settlement?

[A] Reserve Bank of India
[B] Asian Development Bank
[C] World Bank
[D] State Bank of India

 

Correct Answer: A [Reserve Bank of India]

Notes:
Real Time Gross Settlement is operated in India by the Reserve Bank of India. It is a continuous and real-time settlement of fund-transfers. It occurs individually and on “transaction to transaction” basis. Presently, the service is available round the clock – throughout the year.

4.Which year is known for BOP crisis in Indian Economy?

[A] 1990
[B] 1991
[C] 1995
[D] 1999

 

Correct Answer: B [1991]

5.In India, which among the following decides the savings bank rate?

[A] Central Government
[B] Banks themselves
[C] Reserve Bank of India
[D] Commercial Banks

 

Correct Answer: B [Banks themselves]

Notes:
The banks themselves fix the interest rates on saving accounts.

6.Consider the following:

1. Short Term Funds
2. Medium Term Funds
3. Long Term Funds

Which among the above is/ are dealt in the Indian Capital Market?

[A] 1 & 2
[B] 2 & 3
[C] 1 & 3
[D] 1, 2 & 3

 

Correct Answer: B [2 & 3]

Notes:
Short Term Funds – Indian Money Market,
Medium and Long Term Funds- Indian Capital Market

7.With reference to the CTS 2010 (cheque truncation system), consider the following statements:
1. CTS 2010 provides faster, more secure and more cost effective clearing of cheques
2. CTS cheques are payable at par at all branches of the originating bank
Which among the above statements is / are correct ?

[A] Only 1
[B] Only 2
[C] Both 1 & 2
[D] Neither 1 nor 2

 

Correct Answer: C [ Both 1 & 2 ]

Notes:

8.Which of the following places in India are known for currency printing presses?

1. Dewas
2. Nasik
3. Mysore
4. Salboni

Select the correct option from codes given below:

[A] 1, 2 & 3 Only
[B] 3 & 4 Only
[C] 2, 3 & 4 Only
[D] 1, 2, 3 & 4

 

Correct Answer: D [ 1, 2, 3 & 4 ]

Notes:
Four printing presses actively print notes: Dewas in Madhya Pradesh, Nasik in Maharashtra, Mysore in Karnataka, and Salboni in West Bengal.

9.Which of the following is not included in the World Bank Group?

[A] IBRD
[B] IDA
[C] MIGA
[D] UNCTAD

 

Correct Answer: D [ UNCTAD ]

Notes:
The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. Its five organizations are the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID). UNCTAD is the principal organ of the United Nations General Assembly dealing with trade, investment, and development issues. The primary objective of UNCTAD is to formulate policies relating to all aspects of development including trade, aid, transport, finance and technology.

10.Consider the following:

1. Time deposit with banks
2. Demand deposit with banks
3. Money with public in the form of cash
4. Post office deposit

Which of the above are included under Narrow Money?

[A] 1, 2 & 3 Only
[B] 2, 3 & 4 Only
[C] 2 & 3 Only
[D] 1, 2, 3 & 4

 

Correct Answer: C [ 2 & 3 Only ]

Notes:
At any point of time, the money held with the public has two most liquid components. While M1/M0 is generally used to describe narrow money, M2/M3/M4 qualifies as broad money. Demand Deposit component is the money of the general public with the banks, which can be withdrawn by them using cheques, withdrawals and ATMs.
M1 = Currency with the public + Demand Deposits of public in Banks
When a third component viz. Post office Savings Deposits is also added to M1, it becomes M2.
M2 = M1 + Post Office Savings.
M3=M2 + Time Deposits

11.Devaluation of currency can correct a Balance of Payments deficit because___

[A] It lowers price of exports in foreign currency and rises price of imports in home currency
[B] It raises price of exports in foreign currency and lowers price of imports in home currency
[C] It raises price of exports and imports in foreign currency
[D] It lowers price of exports and imports in home currency

 

Correct Answer: A [It lowers price of exports in foreign currency and rises price of imports in home currency]

Notes:
Devaluation refers to fall in the fixed exchange rate between one currency and other. Devaluation is used to correct the balance of payment (BoP) deficit but only as a last resort as it has major repercussions on the domestic economy. Devaluation can correct a BoP deficit because it lowers the price of experts in terms foreign currencies and raise the price of imports on the home market

12.Consider the following irrigation projects with rivers over which they are executed:

1. Gosikhurd National Irrigation Project – Krishna
2. Shahpur Kandi Project – Ravi
3. Ukai irrigation Project – Tapti

Which of the above is/are correctly matched?

[A] Only 1 & 2
[B] Only 2 & 3
[C] Only 1 & 3
[D] 1, 2 & 3

 

Correct Answer: B [Only 2 & 3]

Notes:
Gosikhurd Irrigation Project is under execution on river Wainganga in Maharashtra. Shahpur Kandi Project is under execution on Ravi River in Punjab.

13.Which among these was not Stipulated in the Fiscal Responsibility And Budget Management Act 2003?

[A] Elimination of revenue deficit
[B] Elimination of primary deficit
[C] Non-borrowing by the central government from RBI except in certain situations
[D] Fixing government guarantees in any financial year as a percentage of GDP

 

Correct Answer: B [ Elimination of primary deficit ]

Notes:

14.The Human Capital Report is published by the:

[A] World Economic Forum
[B] International Committee of the Red Cross
[C] World Bank
[D] Human Rights Foundation

 

Correct Answer: A [ World Economic Forum ]

Notes:
The Human Capital Report is published by the World Economic Forum. As per recent report, India has been ranked at 105th position globally.

15.Consider the following:

1. Time deposit with banks
2. Demand deposit with banks
3. Money with public in the form of cash
4. Post office deposit

Which of the above are included under Narrow Money?

[A] 1, 2 & 3 Only
[B] 2, 3 & 4 Only
[C] 2 & 3 Only
[D] 1, 2, 3 & 4

 

Correct Answer: C [ 2 & 3 Only ]

Notes:
At any point of time, the money held with the public has two most liquid components. While M1/M0 is generally used to describe narrow money, M2/M3/M4 qualifies as broad money. Demand Deposit component is the money of the general public with the banks, which can be withdrawn by them using cheques, withdrawals and ATMs.
M1 = Currency with the public + Demand Deposits of public in Banks
When a third component viz. Post office Savings Deposits is also added to M1, it becomes M2.
M2 = M1 + Post Office Savings.
M3=M2 + Time Deposits

16.Which of the following steel plants was not built during the 2nd Five year plan?

[A] Bhilai plant
[B] Salem plant
[C] Rourkela plant
[D] Durgapur plant

 

Correct Answer: B [Salem plant]

Notes:
Second Five Year Plan of 1956 to 1961 was given Importance to an establishment of heavy industries only. The main thrust of industrial development was on iron and steel, Heavy engineering and fertilizer industries. Three new iron and steel plants were located in Bhilai, Durgapur, and Rourkela.

17.Per Capita Income of a country is obtained by dividing National Income by which of the following?

[A] Total working population
[B] Total population of the country
[C] Area of the country
[D] Volume of the capital used

 

Correct Answer: B [ Total population of the country ]

Notes:
Per capita income or average income measures the average income earned per person in a given area in a specified year. It is calculated by dividing the area’s total income by its total population.

18.Who was the first American to win Noble Prize in Economics in 1970?

[A] Janet Yellen
[B] Paul Samuelson
[C] Milton Friedman
[D] Alice Rivlin

 

Correct Answer: B [Paul Samuelson]

Notes:
Paul Samuelson is the foremost academic economist of the 20th century. He was the first American to win the Noble Prize in economics in 1970. He was awarded the National Medal of Science, America’s top science award, by Bill Clinton in 1996.

19.Which among the following is not a benefit of neem coated urea?

[A] Slow down the process of nitrogen release
[B] Enhance the yield
[C] Increase urea requirement
[D] Reduce fertilizer cost

 

Correct Answer: C [Increase urea requirement]

Notes:
Coating urea with neem oil is neem coated urea. It has various benefits like slowing down the process of nitrogen release, enhance the yield, reduce urea requirement so the cost of fertilizer is reduced.

20.Which type of crop production is provided the help of geo-informatics under Project Chaman?

[A] Cash Crops
[B] Food crops
[C] Plantation
[D] Horticulture

 

Correct Answer: D [Horticulture]

Notes:
Project CHAMAN was launched with the aim of helping the horticulture segment of Indian agriculture. This project aims to make use of the Geo-informatics to help the farmers and policy makers in the Government.

21.Which oilseeds are used in the Manufacturing of paints?

[A] Linseed
[B] Groundnut
[C] Castor
[D] None of the above

 

Correct Answer: A [Linseed]

Notes:
Linseed (Alsi in Hindi) has a unique drying property and is suitable for the manufacturing of paints, varnishes, printing ink etc. A small part is used as edible oil also.

22.Which of the following Oil seeds doesn’t have MSP from the government?

[A] Groundnut
[B] Mustard
[C] Castor
[D] Sunflower

 

Correct Answer: C [Castor]

Notes:
CACP recommends MSPs of 23 commodities, which comprise 7 cereals (paddy, wheat, maize, sorghum, pearl millet, barley and ragi), 5 pulses (gram, tur, moong, urad, lentil), 7 oilseeds (groundnut, rapeseed-mustard, soyabean, seasmum, sunflower, safflower, nigerseed), and 4 commercial crops (copra, sugarcane, cotton and raw jute).

23.What is the total tea exports from India?

[A] US 830.9million[B]US930.9 million
[C] US 960.9million[D]US730.9 million

 

Correct Answer: A [US $830.9 million]

Notes:
India is the second-largest tea producer and 4th largest exporter. Tea exports from India stood at US$ 830.90 million.

24.How many cattle breeds are there in India?

[A] 43
[B] 32
[C] 51
[D] 65

 

Correct Answer: A [43]

Notes:
India is blessed with a huge biodiversity of 43 indigenous cattle breeds and 13 Buffalo breeds which have survived over last hundreds of years in respect of their suitability for specific purposes in the concerned local environment.

25.Which among the following is a bird disease?

[A] H1N1
[B] H5N1
[C] H5N5
[D] H2N5

 

Correct Answer: B [H5N1]

Notes:
H5N1 is Bird fl. It is Avian influenza refers to the disease caused by infection with avian (bird) influenza (flu) Type A viruses. H1N1 is known as swine flu.

26.Which is the largest shrimp exporting nation?

[A] Vietnam
[B] India
[C] USA
[D] China

 

Correct Answer: B [India]

Notes:
In fiscal 2016, India became the biggest exporter of shrimps by overtaking Vietnam. Frozen shrimp is the top item of export among seafood, accounting for 38.28 percent in quantity and 64.50 percent of the total earnings in dollar terms.

27.Where is the central bee research and training institute located?

[A] Chandigarh
[B] Jaipur
[C] Pune
[D] Guwahati

 

Correct Answer: C [Pune]

Notes:
The central bee research and training institute located in Pune. It is under the Ministry of Industry, Govt of India.

28.Which state government launched Rajiv Gandhi Kisan Nyaya Yojana?

[A] Bihar
[B] Chattisgarh
[C] Madhya Pradesh
[D] Maharashtra

 

Correct Answer: B [Chattisgarh]

Notes:
Chattisgarh government launched Rajiv Gandhi Kisan Nyaya Yojana. It is a direct income support programme to the farmers.

29.Which is the top e-waste producing country in the world?

[A] USA
[B] China
[C] India
[D] Japan

 

Correct Answer: A [USA]

Notes:
Top 5 e-waste producing nations are :
1. US
2. China
3. Japan
4. Germany
5. India

30.How many large cement plants are there in India?

[A] 300
[B] 210
[C] 245
[D] 332

 

Correct Answer: B [210]

Notes:
Ther are 210 large cement producing industries in India. The account for 70% of India’s cement production.

31.Which among the following contains aluminium and silicon?

[A] Coal
[B] Petroleum
[C] Fly ash
[D] None of the above

 

Correct Answer: C [Fly ash]

Notes:
Fly ash and slag contains aluminium and silicon readily. They can be part of geo polymer cement.

32.Which among the following is the top cement importing country in the world?

[A] USA
[B] China
[C] India
[D] Australia

 

Correct Answer: A [USA]

Notes:
The top 3 cement importing countries are:
1. USA
2. China
3. Philippines

33.How many atomic minerals produced in India?

[A] 3
[B] 5
[C] 7
[D] 5

 

Correct Answer: A [3]

Notes:
India currently produces 3 atomic minerals. Uranium, Thorium and Graphite are the ones produced in India. Other minerals which are found are Beryllium, Zircon, and Antimony are also found.

34.What are first generation bio fuels?

[A] biofuels made of vegetable oils
[B] biofuels made of feedstocks
[C] biofuels made of algae
[D] None of the above

 

Correct Answer: A [biofuels made of vegetable oils]

Notes:
1st generation bio fuels – biofuels made of vegetable oils
2nd generation bio fuels – biofuels made of feedstocks
3rd generation bio fuels – biofuels made of algae

35.What is the FDI allowed in greenfield pharma under the automatic route?

[A] 100
[B] 74
[C] 49
[D] 51

 

Correct Answer: A [100]

Notes:
Indian government allows 100% Foreign Direct Investment (FDI) under the automatic route for greenfield pharma.

36.What is the total area under Sugar Cultivation in India?

[A] 3 million hectares
[B] 2.3 million hectares
[C] 5 million hectares
[D] 6.2 million hectares

 

Correct Answer: C [5 million hectares]

Notes:
Sugar Industry is the second largest agro based industry in India. It is cultivated in about 5 million hectares in India.

37.What is the total import quantity of paper by India in 2019?

[A] 8,88,000 tonne
[B] 6,88,000 tonne
[C] 2,88,000 tonne
[D] 5,88,000 tonne

 

Correct Answer: A [8,88,000 tonne]

Notes:
India imported 6,84,000 tonne during 2018. The paper imports have climbed up to 8,88,000 tonne during 2019. Imports from China and Asean went up by a whopping 40% and 75% respectively, in the same period.

38.What is the full form of RISE?

[A] Revitalising Indian Systems of Education
[B] Revitalising Infrastructure and Systems in Education
[C] Revitalising Infrastructure and schools in Education
[D] Reconstruction Indian School Education

 

Correct Answer: B [Revitalising Infrastructure and Systems in Education]

Notes:
Revitalising Infrastructure and Systems in Education (RISE) by 2022 was announced in Union Budget 2020-21 by the government of India. It was given a budget of Rs 3,000 crore (US$ 429.55 million).

39.What is the budget allocated for Healthcare sector in the union budget 2020-21?

[A] Rs 59,000 crores
[B] Rs 69,000 crores
[C] Rs 71,000 crores
[D] Rs 84,000 crores

 

Correct Answer: B [Rs 69,000 crores]

Notes:
In Union Budget 2020-21 the Government has allocated Rs 69,000 crore (US9.87billion)forthehealthsectorthatisinclusiveofRs6,400crore(US 915.72 million) for PMJAY. The Government of India aims to increase healthcare spending to three percent of the Gross Domestic Product (GDP) by 2022.

40.What is the FDI allowed in Mobile TV by the government of India?

[A] 74%
[B] 49%
[C] 100%
[D] 51%

 

Correct Answer: C [100%]

Notes:
The FDI has been increased from 49% to 100% FDI by the government of India in Teleports, DTH, Multi-System Operator, cable networks in DAS areas, mobile TV, Headend-in-the-Sky Broadcasting Services.

41.Which of the following airport does not have a tabletop runway?

[A] Mangalore International Airport, Karnataka
[B] Calicut International Airport, Kerala
[C] Lengpui Airport, Mizoram
[D] Jolly Grant Airport, Dehradun

 

Correct Answer: D [Jolly Grant Airport, Dehradun]

Notes:
Tabletop runways are constructed on the top of a plateau or hill. These type of runway have steep drop either at one or two ends and it creates optical illusion. Extreme care should be taken by the pilots while operating on tabletop runways. In India following airports host tabletop runways:

1. Mangalore International Airport, Karnataka
2. Calicut International Airport, Kerala
3. Lengpui Airport, Mizoram
4. Kannur International Airport, Kerala

42.Which of the following is / are correct statements regarding agriculture in India?

1. Agriculture is the biggest private sector in India
2. Agriculture income bears no income tax burden

Select the correct option from the codes given below:

[A] Only 1
[B] Only 2
[C] Both 1 & 2
[D] Neither 1 nor 2

 

Correct Answer: C [Both 1 & 2 ]

Notes:
Agriculture is not only the biggest sector of the economy, but also the biggest private sector too. It is the only profession which still carries no burden of individual income tax. At the same time, agriculture is also the biggest unorganised sector of the economy accounting for more than
90 per cent share in the total unorganised labour-force.

43.What is the full form of RTGS?

[A] Ready Transaction and Gross Settlement
[B] Real Transaction and General Settlement
[C] Real Time Gross Settlement
[D] Real Transaction Gross Settlement

 

Correct Answer: C [Real Time Gross Settlement]

Notes:

RTGS (Real Time Gross Settlement) is a fund transfer system. In this, the transfer of money or securities takes place from one bank to any other bank on a “real-time” and on a “gross” basis.

44.Which among the following is a function of SEBI?
1. Regulates exports
2. Regulates security markets
3. Regulates Mutual funds
4. Regulates Nabard
Choose the correct option from the choices given below:

[A] 1 and 3 only
[B] 2 and 3 only
[C] 1,2 and 4 only
[D] 2 only

 

Correct Answer: B [2 and 3 only]

Notes:
SEBI-Security Exchange Board of India was established in 1988.  It became a statutory body in 1992. Its headquarters is located in Mumbai.  It regulates security markets.

45.In which year General Insurance company(GIC) was founded?

[A] 1970
[B] 1986
[C] 1980
[D] 1972

 

Correct Answer: D [1972]

Notes:
General Insurance Company(GIC) was founded in 1972 with headquarters at Mumbai. GIC of India (GICRe) is the sole reinsurance company in the Indian insurance market.

46.Which cities are connected by NH-1?

[A] Mumbai-Delhi
[B] Delhi-Kolkata
[C] Delhi-Amritsar
[D] Chennai-Kolkata

 

Correct Answer: C [Delhi-Amritsar]

Notes:
The National Highway – 1 connects Delhi to Amritsar. The strip from Amritsar to Jalandhar is four-lane and from Jalandhar to Delhi.

47.Which port of India is there in the world’s top 30 container ports?

[A] Chennai Port
[B] Jawaharlal Nehru Port
[C] Visakhapatnam Port
[D] Kandla Port

 

Correct Answer: B [Jawaharlal Nehru Port]

Notes:
Jawaharlal Nehru Port of Mumbai is the only port of India that is present in the top 30 container ports of the world.

48.Which among the following SEZ is planned under Project Sagarmala?

[A] Varanasi SEZ
[B] Kalinga SEZ
[C] Delhi SEZ
[D] Patna SEZ

 

Correct Answer: B [Kalinga SEZ]

Notes:
Ther are total 14 CEZs are planned to be developed in phases across coastal India.They are Kachch CEZ,Saurashtra CEZ,Suryapur CEZ,North Konkan CEZ,South Konkan CEZ,Dakshin Kanara CEZ,Malabar CEZ,Mannar CEZ,Poompuhar CEZ,VCIC South CEZ,VCIC Central CEZ,VCIC North CEZ,Kalinga CEZ,Gaud CEZ.

49.Where is India’s first aerodromes is going to be set up?

[A] Gujarat
[B] Lakshadweep
[C] Andaman and Nicobar
[D] Goa

 

Correct Answer: A [Gujarat]

Notes:
Airport Authority of India has set up India’s first three water aerodromes in Gujarat.

50.In which country the world’s largest nuclear power plant is located?

[A] Germany
[B] Japan
[C] USA
[D] Russia

 

Correct Answer: B [Japan]

Notes:
The world’s largest nuclear power plant is located in Japan. It is Tokyo Electric Power Co.’s (TEPCO) Kashiwazaki-Kariwa plant with a net capacity of 7,965MW.