Mock Test -113 [Indian Economy]

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Bank Rate is defined as the rate at which:

RBI lends short term loans to commercial banks

a commercial bank can lend to its customers

RBI lends long term loans to commercial banks

the commercial banks are able to borrow overnight funds from RBI

Which among the following is a Progressive Tax?

Customs duty

Development Surcharge

Income tax

Sales tax

In which year central government abolished banking Services Recruitment Boards?

1995

1997

1999

2002

Which among the following has never been an agenda of Financial Sector Reforms in India?

Providing easy credit to all citizens with subsidies guaranteed

Deregulation of the interest rate regime

Enabling regulatory framework for effective supervision

Strengthening the Disclosure norms

Consider the following statements:

Proportional Reserve System was prevalent in India from 1939 till 1956
In Proportional Reserve System, RBI was required to keep Gold or Sterling reserves equal to the notes issued in the Issue Department

Which among the above statements is / are correct?

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

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