Quiz 614: Current Data on Indian Economy for Bank PO Examinations

1. Maximum share in India’s total external debt is of which among the following currency?
[A]US Dollar
[B]Indian Rupee
[C]Euro
[D]Japanese Yen

US Dollar


2. Which among the following Service recently (in 2011) celebrated the Golden Jubilee?
[A]Indian Revenue Service
[B]Indian Economic Service
[C]Indian Forest Service
[D]Indian Police Service

Indian Economic Service (was launched in 1961)


3. National Small Savings Fund is a part of which among the following?
[A]Consolidated Fund of India
[B]Public Account of India
[C]Contingency Fund of India
[D]Prime Minister’s Relief Fund

Public Account of India


4. What is the maturity period for Monthly Income Scheme (MIS) and National Savings Certificate (NSC) ?
[A]5 years
[B]6 years
[C]7 years
[D]8 years

5 years
Please note that earlier it was 6 years. A new NSC instrument, with maturity period of 10 years, has also been introduced


5. Which among the following has been discontinued in India in recent times?
[A]Indira Vikas Patra
[B]Kisan Vikas Patra
[C]Kisan Credit Card Scheme
[D]National Saving Certificate

Kisan Vikas Patra.
Please also note that Indira Vikas Patra was discontinued in 2001.


6. What is the current annual ceiling on investment under Public Provident Fund (PPF) Scheme?
[A]Rs. 70000
[B]Rs. 80000
[C]Rs. 90000
[D]Rs. 100000

Rs. 100000


7. What is the current interest paid under Post Office Savings Account (POSA) in India?
[A]3%
[B]3.5%
[C]3.75%
[D]4%

4%


8. The minimum interest rate of a bank below which it is not viable to lend, is known as ____:
[A]Reserved Rate
[B]Base Rate
[C]Marginal Rate
[D]Prime Lending Rate

Base Rate
Base rate is defined as the minimum interest rate of a bank below which it is not viable to lend.It replaces the benchmark prime lending rate (BPLR) ,the
interest rate which commercial banks charged their most credit worthy customer.


9. Which among the following programmes is NOT being implemented in India with assistance of World Bank?
[A]National Vector Borne Disease Control and Polio Eradication
[B]National Rural Livelihoods Project
[C]PMGSY Rural Roads Project
[D]Delhi Mumbai Industrial Corridor Project

Delhi Mumbai Industrial Corridor Project


10. As per the latest information (Advance Estimates) of National Income for 2011-2012 (at constant 2004-2005 prices), released by the Central Statistics Office, the growth of Gross Domestic Product (GDP) at factor cost in Industries has been pegged at ____:
[A]2.5%
[B]3.9%
[C]4.3%
[D]6.2%

3.9%
As per the latest information (Advance Estimates) of National Income for 2011-2012 (at constant 2004-2005 prices), released by the Central Statistics
Office, the growth of Gross Domestic Product (GDP) at factor cost is estimated at 6.9 percent in 2011-2012, with agriculture & allied activities growing at
2.5 per cent, industry at 3.9 per cent and services at 9.4 per cent. The corresponding growth in GDP in 2010-2011 was 8.4 per cent, with agriculture and
allied sector, industry and services growing at 7.0, 7.2 and 9.3 per cent, respectively.


11. Consider the following statements:
1. As per the fourth advance estimates for 2010-2011, foodgrains production was estimated more than 240 Million Tons
2. The Rabi Production is more than Kharif Production
Which among the above statements is / are correct?
[A]Only 1
[B]Only 2
[C]Both 1 & 2
[D]Neither 1 nor 2

Both 1 & 2
As per the fourth advance estimates for 2010-2011, foodgrains production was estimated at 241.56 million tons, out of which Kharif production was 120.20
million tons and Rabi production was 121.36 million tons.


12. If you go to the market and purchase an Air conditioner for your factory, then in economic terminology, you are most probably doing which among the following?
[A]Consumption
[B]Production
[C]Asset Creation
[D]Investment

Consumption, however asset creation is also correct (fixed asset)


13. Which among the following is the most close figure of India’s exports share in World’s Total exports?
[A].9%
[B]1%
[C]1.5%
[D]1.9%

1.5%
India’s share in global exports and imports increased from 0.7 percent and 0.8 per cent respectively in 2000 to 1.5 per cent and 2.2 per cent respectively
in 2010.


14. Reserve Tranche Position (RTP) is a term used in context with ____?
[A]Reserve Bank of India
[B]Federal Reserve Bank (of America)
[C]World Bank
[D]International Monetary Fund

International Monetary Fund


15. Maximum share in total external debt of India is of ___
[A]Long-term borrowings
[B]Short Term Borrowings
[C]Medium Term Borrowings
[D]Ultra-Long term borrowings

Long-term borrowings

« »

Comments

  • fatiman88
    Reply

    shouldn’t the answer to question 12 be ‘consumption’ rather than ‘asset creation’?

  • sandeep
    Reply

    very useful gk thnks gktoday,,,,,,,,,,and yours section wise gk ,,fantastic ..priceless sir thnkyou again

  • Sunil
    Reply

    Indian Economic Service is not a All India Service I think

  • sudha
    Reply

    thanks a lot for adding new important topics.tnx..

  • Sunil
    Reply

    Only IAS,IPS and IFS(forest) are the All India services rest are Group A services.

  • deepak
    Reply

    Ans of Q12 must be Consumption. It can be categorised as consumer durable ,TV is another example. This is because purchased AC for home use don’t generate any revenue neither it used in further economic activities.
    Please clarify.

  • Sunil
    Reply

    Dear GKTODAY Team,

    I would like to convey my earnest appreciation for your outstanding work. Your good work is helping many students in their preparation. Special appreciation to the team setting the questions.

    We acknowledge your tireless efforts and encourage you to keep up the good work and continue to deliver outstanding results.

  • Rajiv Sinha
    Reply

    Very good and useful questions. I use in my magazine for coaching Bank PO students. I copy by using Abby Screenshot Reader software. Very useful if you can give in word file.
    Thanks

  • [email protected]
    Reply

    Services
    7. The estimated growth in GDP for the trade, hotels, transport and communication
    sectors during 2011-12 is placed at 11.2 per cent as against growth of 11.1 percent in the
    previous year.

  • manju previn
    Reply

    thank u GKTODAY

  • bala
    Reply

    thank u so much for update gk

  • RAHUL
    Reply

    SIR, …….. pls refer some gk for court ( supreme court,post- jca ) exams or pls provide quiz for that
    regards…..

  • Abhishek
    Reply

    thank u sir for update gk please refer in hindi also thanks again