Indian Economy MCQs

Indian Economy Multiple Choice Questions (MCQs) for State and UPSC Civil Services Examinations. Objective Questions on Indian Economy for competitive examinations.

11. The name of Sir Chintaman Dwarkanath Deshmukh is special in the Indian Banking Sector. He was __________?

[A] First Indian to establish a Bank in India
[B] First Indian to be chairman of State Bank of India
[C] First Indian to be governor of the Reserve Bank of India (RBI),
[D] Pioneer in Indian Commercial Banking

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12. Consider the following: 

  1. Notes
  2. Coins
  3. Credit

Which among the above come under the category “Common Money”?

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

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13. A Bank included in the second schedule of RBI is called as _________?

[A] Scheduled Bank
[B] Commercial Bank
[C] National Bank
[D] Regional Rural Bank

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14. As we all know that economic liberalization began in true sense in July 1991 in India. Which among the following was the first step of the government while taking the country towards Economic Liberalization?

[A] Substantial changes in industrial license policy were made
[B] The Rupee was made convertible
[C] Procedural formalities for Foreign direct Investment were removed
[D] The government significantly reduced the taxes

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15. Which among the following sector of Indian Economy is maximum dependent on economic developments in advanced nations?

[A] Manufacturing Sector
[B] Agricultural Sector
[C] Mining Sector
[D] Service Sector

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16. In context with banking in India, March 16, 1949 is a date which marks:

[A] Establishment of RBI
[B] Nationalization of RBI
[C] Banking Regulation act coming in Force
[D] Nationalization of Banks

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17. Which of the following imaginary circumstances, the Reserve bank of India will opt to sell Government securities in the open market?

[A] When the Foreign funds inflow is meek
[B] When there is enormous Foreign Funds Inflow in the Indian Economy
[C] When banks have low liquidity and need liquidity
[D] When Government of India asks the RBI to sell securities

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18. What is Malathion, sometimes seen in news?

[A] A fumigant
[B] An insecticide
[C] A preservative
[D] A pesticide

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19. SAICM Initiative is related to which of the following industries?

[A] Chemical Industry
[B] Aviation Industry
[C] Agriculture Industry
[D] Food Processing Industry

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20. Mutual Funds are regulated in India by which among the following?

[C] Stock Exchanges
[D] RBI and SEBI both

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