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Quiz 561: GK Questions and Indian Economy

1. Which among the following treaty founded the Euro Currency?
[A] Maastricht Treaty
[B] Merger Treaty
[C] Amsterdam Treaty
[D] Lisbon Treaty

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Correct Answer: A [Maastricht Treaty]
2. The Reserve Bank of India has introduced a new facility via which the banks can dip below 1% of their statutory liquidity ratio to avail cash from this window. What is the name of this new facility?
[A] Liquidity Adjustment Facility
[B] Marginal Adjustment Facility
[C] Marginal Standing Facility
[D] Cash Adjustment Facility

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Correct Answer: C [Marginal Standing Facility]
3. A Banking Ombudsman will not entertain Credit Card complaints which are more than _______old.
[A] 3 months
[B] 6 months
[C] 9months
[D] 12 months

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Correct Answer: D [12 months]
4. What is the number of Federal Reserve Districts in the Federal Reserve System of United States?
[A] 10
[B] 12
[C] 15
[D] 20

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Correct Answer: B [12]
5. The term Rose Revolution refers to the change of power  in which among the following countries?
[A] Croatia
[B] Syria
[C] Georgia
[D] Kyrgyzstan

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Correct Answer: C [Georgia]
6. Consider the following crops:
  1. Soyabean
  2. Sesame
  3. Pumpkin
  4. Cotton

Which among the following is the correct set of crop seasons in which the above are grown?

[A] Kharif, Rabi,Zaid, Kharif
[B] Rabi, Kharif, Zaid, Kharif
[C] Rabi, Zaid, Zaid, Rabi
[D] Kharif, Kharif , Zaid, Rabi

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Correct Answer: A [Kharif, Rabi,Zaid, Kharif]
7. Rama’s Bridge or Rama Setu is located in which among the following straits?
[A] Bering Strait
[B] Palk Strait
[C] Cook strait
[D] Strait of Tebrau

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Correct Answer: B [Palk Strait]
8. Which among the following is the basic territorial unit of Administration in India?
[A] Revenue Division
[B] Tehsil
[C] District
[D] Village

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Correct Answer: C [District]
9. The competitive devaluation by the countries would badly affect which among the following?
[A] Exporters
[B] Importers
[C] Traders
[D] Service Providers

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Correct Answer: A [Exporters]
Notes:
When competitors devalue their respective currencies, domestic exporters tend to lose out on the price advantage on their exportable as buyers prefer to buy from a cheaper currency. This in turn hurts income as well as the jobs in the export sector and the prospects for the economy. The central bank at such times tries to intervene – buy dollars and create an artificial demand for the dollar, devaluing the value of the rupee in the process and retain some price advantage for the exporter . But buying dollars involves a fiscal cost as the central bank has to pump in equivalent amount of rupees and again mop it up by selling bonds. These bonds need to be serviced by the government. This would in turn worsen the fiscal position
10. If a person is not satisfied with the decision passed by the Banking Ombudsman, he/ she can approach the appellate authority against the Banking Ombudsmen’s decision. The Appellate Authority is vested in which among the following?
[A] Managing Director of the Concerned Bank
[B] Governor of Reserve Bank of India
[C] Deputy Governor of Reserve Bank of India
[D] High Court of the state in which Bank Branch is located

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Correct Answer: C [Deputy Governor of Reserve Bank of India]