Indian Economy MCQs

Indian Economy Multiple Choice Questions (MCQs) for SSC, State and all One Day Examinations of India. Objective Questions on Indian Economy for competitive examinations.

1. Which among the following bodies estimates the national income of India?
[A] Office of the Economic Advisor
[B] Ministry of Statistics
[C] Central Statistical Office
[D] Ministry of Finance

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2. Which among the following groups of Banks in India was previously referred as ‘Other Scheduled Commercial Banks’?
[A] National Banks
[B] Foreign Banks
[C] Scheduled Cooperative Banks
[D] Private Banks

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3. Which currency did Keynes propose for global trade from 1940 to 1942?
[A] The Whuffie system managed by the International Trade Organization
[B] The Unitas managed by the World Monetary Authority
[C] The Bancor managed by the International Clearing Union
[D] The Terra managed by the Global Central Bank

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4. When a Demand Draft is deposited, what is the bank’s role?
[A] Creditor of the customer
[B] Debtor of the customer
[C] Agent of the customer
[D] Trustee of the customer’s funds

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5. The term OTDS is mainly linked to which WTO negotiation area?
[A] Intellectual Property & Geographical Indications
[B] Non-Agricultural Market Access (NAMA)
[C] Agriculture
[D] Services Trade

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6. Which institution has the highest Priority Sector Lending norm in India as of 2026?
[A] Small Finance Banks
[B] Regional Rural Banks
[C] Domestic Scheduled Commercial Banks
[D] Urban Co-operative Banks

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7. According to FERA ,Foreign Exchange includes which of the following?
[A] Traveler’s Cheque
[B] Letters of Credit
[C] Bill of Exchange expressed or drawn in Indian Currency
[D] All of the above

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8. At which rate does RBI borrow funds from commercial banks?
[A] Bank Rate
[B] Repo Rate
[C] Reverse Repo Rate
[D] Statutory Liquidity Ratio

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9. Which of the following is the situation, when there is only one buyer and one seller of product?
[A] Public monopoly
[B] Monopsony
[C] Franchised monopoly
[D] Bilateral monopoly

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10. Which among the following is a direct tax?
[A] Corporate tax
[B] Wealth tax
[C] Income tax
[D] All of the above

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