B-7, Lower Ground floor, Apsara Arcade Near Karol Bagh ...Chahal Academy - B-7, Lower Ground floor,...


Q1. Which of the following statement(s)

is/are correct about The Multilateral

Investment?

Guarantee Agency (MIGA)?

1. The Multilateral Investment Guarantee

Agency (MIGA) is the second largest Inter-

governmental organization after United

Nations.

2. Its mandate is to promote cross-border

investment in developing countries by

providing guarantees (political risk insurance

and credit enhancement) to investors

and lenders.

Select the correct answer using the codes

given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about the GSP (Generalized

System of Preference) which was in news

recently?

1. It is a trade preference

framework of the European

Union(EU) under which EU

provides preferential duty-

free entry to a large variety -

of products.

2. Recently, India was granted

designation as a beneficiary

developing nation under the

GSP (Generalized System of

Preference).

Select the correct answer using the

codes given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Q3. The Nandan Nilekani Panel/Committee

which was in news recently was constituted

for which of the following purposes?

(a) To study feasibility of selling as many

small and marginal oil and gas fields

of state-owned ONGC and OIL to

private and foreign companies to

boost domestic output.

(b) To review Income-tax Act, 1961 and

to draft new direct tax law in

consonance with the economic

needs of the country.

(c) To submit a comprehensive report

holding consultations with all the



major stakeholders to strengthen

the digital payments industry.

(d) To review competition regulations in

view of changing business

environment and suggest the

necessary changes to strengthen and

re-calibrate existing law to promote

best practices.

Q4. Which of the following curve advocates

a relationship between inflation and

unemployment in an economy?

(a) Philips Curve

(b) Laffer Curve

(c) Indifference Curve

(d) Lorrenz Curve


is/are correct about the Leverage Ratio?

1. It is one of the several financial

measurements that look at how

much capital comes in the form of

debt (loans) or assesses the ability of

a company to meet its financial

obligations.

2. The Basel Committee on Banking

Supervision (BCBS) has set the

minimum requirement for leverage

ratio at 3%.


codes given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about Housing Finance

Companies in India?

1. The housing finance companies are

part of the broader shadow banking

sector known as non-banking finance

companies (NBFCs).

2. The Housing Finance Companies in

India are regulated by the Reserve

bank of India(RBI).


codes given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about the inter-creditor

Agreement (ICA) which was in news

recently?

(a) The inter-creditor agreement is

aimed at the resolution of loan

accounts with a size of 50 crores and

above that are under the control of a

group of lenders.



(b) It is part of the “Sashakt” plan

approved by the government to

address the problem of resolving bad

loans.

(c) The agreement is based on a

recommendation by the Sunil Mehta

committee that looked into

resolution of stressed assets.

(d) All the above.

Q8. A high level committee appointed to

review the economic capital framework of

the RBI failed to arrive at a consensus during

a meeting held recently, leading to a delay in

finalising its report. With reference to this

identify which of the following statement(s)

is/are correct?

1. The high-level committee is headed

by Bimal Jalan for examining the

Economic Capital Framework (ECF).

2. ECF refers to the policy which

determine the appropriate levels of

reserve the central bank should hold

and the surplus distribution to the

government.


codes given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Q9. The 20th meeting of the Financial

Stability and Development Council(FSDC)

took place recently. With reference to this


is/are correct about the FSDC?

1. The FSDC is a Statutory Regulatory

body established in 2012.

2. The idea to create such a super

regulatory body was first mooted by

the Raghuram Rajan Committee in

2008.

3. The FSDC is chaired by the Governor

of the Reserve Bank of India (RBl).


given below:

(a) 2 only

(b) 2 and 3 only

(c) 1, 2 and 3 only

(d) None of the above

Q10. Which among the following

products/commodities have been awarded a

geographical indication (GI) tag in India?

1. Darjeeling Tea

2. Kacch Shawls

3. Mysore Silk

4. Kolhapuri Chappals




given below:

(a) 1 only

(b) 1 and 2 only

(c) 1, 2 and 3 only

(d) 1, 2, 3 and 4

Q11. Consider the following statements

about the Cess:

1. A cess is levied on the tax payable

and not on the taxable income.

2. The proceeds of all cesses are not

credited in the Consolidated Fund of

India (CFI), an account of the

Government of India.

3. A cess can be levied only on direct

taxes.

4. A cess is levied to meet a specific

purpose and its proceeds cannot be

spent on any other kind of

government expenditure.

Which of the above statement(s) is/are

correct?

(a) 1 and 4 only

(b) 2 and 3 only

(c) 1 and 2 only

(d) 3 and 4 only


is/are correct about the National Anti-

Profiteering Authority (NAA)?

1. NAA is a permanent statutory body

established under section 171 of the

Central Goods and Services Tax Act,

2017.

2. It is an institutional mechanism

under which aims to check the unfair

profit-making activities by the

trading community.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about the recently launched

“Complaint Management System (CMS)” of

RBI?

1. It is a software application to

facilitate RBI’s grievance

redressal processes and public

can access the CMS portal at

RBI’s website to lodge their



complaints against any of the

entities regulated by RBI.

2. The CMS also has facilities for

RBI officials handling the

complaints to track the progress

of redressal.


codes given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct with regard to the enactment

of budget in the Parliament?

1. No demand for a grant shall be made

except on the recommendation of

the President.

2. No money shall be withdrawn from

the Consolidated Fund of India

except under appropriation made by

law.

3. No money bill imposing tax shall be

introduced in the Parliament except

on the recommendation of the

President, and such a bill shall not be

introduced in the Rajya Sabha.


given below:

(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3

Q15. Consider the following statement(s)

about the Rashtriya Vayoshri Yojana (RVY):

1. The scheme aims to provide financial

assistance to the elderly, widows

and persons with disabilities in the

form of social pensions.

2. This is a Central Sector Scheme, fully

funded by the Central Government.

3. The expenditure for implementation

of the scheme will be met from the

"Senior Citizens' Welfare Fund".


correct?

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3

Q16. An “Inverted duty structure” often seen

in news refers to which of the following?

(a) Imposing higher import duties to

counter dumping.

(b) A structure where duties imposed on

goods of one country are reversed

for the same goods of another

country

(c) A scenario where imported raw

material has higher duties than

imported finished goods.



(d) Cheaper goods becoming more

expensive due to higher duties


is/are correct about the ‘Scheme for Trans-

Disciplinary Research for India’s Developing

Economy’ (STRIDE)?

1. It was launched by the Ministry of

Culture in Collaboration with the

World bank.

2. STRIDE will provide support to

research projects that are socially

relevant, locally need-based,

nationally important and globally

significant.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


about the Regulatory Consistency

Assessment Programme (RCAP):

1. RCAP was established by the Basel

Committee in 2011 which aims to

ensure that each member

jurisdiction adopts the Basel

Framework in a manner consistent

with the Framework’s letter and

spirit.

2. According to the latest assessment

conducted by the RCAP India's large

exposures regulations are not in

Compliance with the Basel

framework.

Which of the above statements is/are

correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Q19. Which of the following is/are among

the differences between the Non-Banking

Financial Companies (NBFCs) and Scheduled

Commercial Banks?

1. NBFC can accept demand deposit

but not Time deposits.

2. NBFCs do not form part of the

payment and settlement system and

cannot issue cheques drawn on itself

3. Deposit insurance facility of Deposit

Insurance and Credit Guarantee

Corporation is not available to

depositors of NBFCs, unlike in case

of banks.


correct?

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3



Q20. Recently, the Reserve Bank of India

(RBI) has constituted a working group to

review the regulatory guidelines and

supervisory framework applicable for core

investment companies (CIC), with reference

to this identify the Working Group is headed

by who among the following?

(a) Tapan ray

(b) Amarjeet Singh

(c) N S Venkatesh

(d) H K Jena

Q21. Recently, the government of India

announced its plans to raise a portion of its

gross borrowing from overseas markets

through Overseas Sovereign Bonds. With

reference to this identify which of the

following statement(s) is/are correct?

(a) Overseas Sovereign Bonds are

government debt securities issued in

overseas markets in foreign currency

denominations such as dollars, euros

and yen.

(b) Huge amount of government

borrowing from Overseas may lead

to the crowding out effect in an

economy.

(c) Both A and B

(d) Neither A nor B


is/are correct about Minimum Support

Prices(MSPs)?

(a) Minimum Support Price (MSP) is a

form of market intervention by the

Government of India to insure

agricultural producers against any

sharp fall in farm prices

(b) The MSPs are announced by the

Government of India based on the

recommendations of Cabinet

Committee on Economic Affairs.

(c) Both A and B

(d) Neither A nor B


is/are correct about the Code on Wages,

2019?

1. Under the code the central

government will make all kind of

wage-related decisions and fixes the

minimum wages for all kind of

employments.

2. The Code prohibits gender

discrimination in matters related to

wages and recruitment of employees

for the same work or work of similar

nature.

3. Under the code the central and state

governments will constitute advisory

boards which will advise the

respective governments on various.


given below:

(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only



(d) 1, 2 and 3

Q24. Recently, July 19, 2019 marked 50 years

of nationalization of 14 commercial banks in

India by the Indira Gandhi government. With


following statement(s) is/are correct?

1. The Nationalisation of 14

commercial banks in 1969 was the

first time nationalisation of banks

took place in India since

Independence.

2. In 1980, the government

nationalized 6 more banks.

3. Lack of financial inclusion was one of

the major reasons for the

Nationalization of banks


given below:

(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3

Q25. Which of the following committees

were set up to examine the Economic Capital

Framework or the ideal size of RBI’s reserves

in the past?

1. Bimal Jalan

2. V Subrahmanyam.

3. Usha Thorat

4. Y H Malegam


given below:

(a) 1 only

(b) 1 and 2 only

(c) 1, 2 and 3 only

(d) 1, 2, 3 and 4

Q26. Which of the following is/are the

Money Market Instruments?

1. T-Bills

2. Commercial Paper

3. Equities

4. Debentures


given below:

(a) 1 only

(b) 1 and 2 only

(c) 1, 2 and 3 only

(d) 1, 2, 3 and 4


is/are correct about the Merchant Discount

Rate (MDR) which was in news recently?

1. It is a bill of exchange issued by a

commercial organization to raise

money for short-term needs.

2. It is also referred to as the

‘Transaction Discount Rate’ or TDR.


given below:

(a) 1 only



(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about the Merchant Discount

Rate (MDR) which was in news recently?

1. It is a bill of exchange issued by a

commercial organization to raise

money for short-term needs.

2. It is also referred to as the

‘Transaction Discount Rate’ or

TDR.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor


is/are correct about Utkarsh 2022?

1. It is a three-year road map of RBI to

improve regulation, supervision and

other functions of the central bank.

2. This is a medium term strategy in

line with the global central banks.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about Trade War?

1. A trade war happens when one

country retaliates against another by

raising import tariffs or placing other

restrictions on the opposing

country's imports.

2. Trade wars are a side effect of

protectionism, which are

government actions and policies that

restrict international trade


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are Incorrect about Development Banks?

1. Development banks are financial

institutions that provide long-term

credit for capital-intensive

investments spread over a long

period and yielding low rates of

return.

2. Development banks usually obtain

finances by issuing long-dated

securities in capital market,

subscribed by long-term savings

institutions such as pension and life



insurance funds and post office

deposits.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about the Monetary Policy

Committee(MPC)?

1. It is a committee of the Reserve Bank

of India, headed by the Governor.

2. The MPC is entrusted with the task

of fixing the benchmark policy

interest rate (repo rate) to contain

inflation within the specified target

level.

3. The MPC takes decisions based on

majority vote (by those who are

present and voting).


given below:

(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3


is/are correct about the Off-Budget

Financing?

1. It refers to the capital and planned

expenditure made out of Budget

every year.

2. Creation of a special purpose vehicle

(SPV) for financing construction

activities through borrowings by SPV

is an example of Off-Budget

Financing.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about the Negative interest

rate policy?

1. A negative interest rate policy (NIRP)

is an unconventional monetary

policy tool employed by a central

bank whereby target interest rates

are set with a negative value.

2. Negative Interest rate policy are

majorly adapted by the central banks

to control inflation and reduce the

demand and consumption in the

domestic market.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2



(d) Neither 1 nor 2


about the Consumer Price Index (CPI):

1. CPI is an index that measures and

tracks the changes in the price of

goods in the stages before the retail

level.

2. It is calculated by taking price

changes for each item in the

predetermined basket of goods and

averaging them.

3. Changes in the CPI are used to assess

price changes associated with the

cost of living.


correct?

(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3

Q36. Which of the following is/are can be

considered as the major reason(s) behind

the falling deposits rates in the past few

months?

1. RBI's has been reducing its monetary

policy rates in the recent months.

2. Many banks have now started to link

deposit rates to RBI’s repo rate.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about the Parker Solar Probe?

1. It is a NASA’s robotic spacecraft, with

the mission of probing and making

observations on the outer corona of

the Sun.

2. It aims is to trace how energy and

heat move through the Sun’s corona

and to study the source of the solar

wind’s acceleration.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Q38. Who among the following chairs the

Cabinet Committee on Economic Affairs?

(a) Minister of Finance

(b) Chief Economic Advisor

(c) Prime Minister

(d) Minister of State for Finance


is/are correct about the Global Innovation



Index (GII), 2019 which was released

recently?

(a) The GII is a global benchmark that

helps policy makers better

understand how to stimulate and

measure innovative activity, a main

driver of economic and social

development.

(b) The GII is published annually by the

World Economic Forum(WEF)

(c) According to the 2019 edition of the

GII Israel is the world’s most-

innovative country.

(d) All the above

Q40. Recently, the Securities and Exchange

Board of India (SEBI) has relaxed the

regulatory and compliance framework for

foreign portfolio investors (FPIs). With


following statement(s) is/are correct about

FPIs?

1. Foreign portfolio investment (FPI)

consists of securities and other

financial assets held by investors in

another country.

2. The FPIs provide the investor with

direct ownership of a company's

assets.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Q41. The Union Cabinet recently decided to

further liberalize foreign direct investment

(FDI) rules in India. With reference to this


is/are correct?

1. The government approved 100%

foreign direct investment (FDI) under

automatic route in digital media.

2. To boost domestic manufacturing,

100% FDI in contract manufacturing

under automatic route has been

allowed.

3. On FDI in single brand retail trade

(SBRT), the Cabinet has expanded the

definition of mandatory 30%

domestic sourcing norm.


given below:

(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3

Q42. Which of the following were the major

central taxes subsumed by the Goods and

Services Tax (GST)?

1. Service Tax

2. Additional Customs Duty commonly

known as Countervailing Duty

3. Entertainment Tax

4. Luxury tax




given below:

(a) 1 only

(b) 1 and 2 only

(c) 1, 2 and 3 only

(d) 1, 2, 3 and 4


is/are correct about the “Advisory Board for

Banking Frauds” (ABBF) which was recently

constituted?

1. The ABBF has been set up by the RBI

based on the recommendation of

the Urjit Patel Committee to conduct

investigations on banking fraud.

2. State-run banks will now need to

report all cases of large frauds to

ABBF.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Q44. Recently, the US officially labelled China

a ‘currency manipulator ‘. With reference to

this identify which of the following

statement(s) is/are Incorrect?

1. Currency manipulator" is a

designation applied by the United

States Department of the Treasury, to

countries that engage in a certain

degree of currency intervention.

2. The label was given to China because

China has a long history of facilitating

an undervalued currency through

protracted, large-scale intervention

in the foreign exchange market


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


shared the report of an Internal Working

Group (IWG), which examined the Economic

impact of farm loan waivers. With reference

to this identify which of the following

statement(s) is/are correct about Farm Loan

Waivers in India?

1. In the Indian Economy, Farm Loan

Waivers are a recent phenomenon,

occurring especially after

consecutive droughts since 2014-15.

2. A farm loan waiver by the

government implies that the

government settles the private debt

that a farmer owes to a bank.

3. The economic benefit of loan waiver

on households can only be realized if

credit allocation to beneficiary

households is not impacted.




given below:

(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3


is/are correct about the recent RBI decision

on Monetary Transmission?

1. The Reserve Bank of India (RBI) has

made it mandatory for banks to link

all floating personal or retail loans to

external benchmark from October 1.

2. External Benchmark of RBI refers to

the interest rate that banks usually

decides on loans given which

depends on various factors such as

fixed deposit rates, source of funds

and savings rate.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


about the recently issued ordinance by the

Government of India on Corporate Tax Cuts

and related initiatives:

1. The government has slashed the

corporate income tax rate from 40

percent to 30 percent for all

companies, including foreign

companies.

2. For companies who continue to avail

exemptions/incentives, the rate of

minimum alternate tax (MAT) has

been reduced from 18.5 percent to

15 percent.

3. A higher surcharge, announced in

the Budget in July, will now not be

applicable to capital gains on sale of

equity made by foreign portfolio

investors (FPIs) as well as individuals

and other classes of investors.


correct?

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3

Q48. According to the recent reports, the

GDP growth rate of the Indian economy has

slipped to 5 per cent in the first quarter of

FY20. With reference to this identify which

of the following are the major factor

contributing to India's Slowing Domestic

Demand?

1. Weak growth in rural and urban

income

2. The troubles in the auto segment

3. High Unemployment Rate

4. China's Currency Manipulation




given below:

(a) 1 and 2 only

(b) 1, 2 and 3 only

(c) 2 and 3 only

(d) 1, 2, 3 and 4


is/are correct about the RBI Clampdown on

Punjab and Maharashtra Co-operative

(PMC)?

1. The RBI has imposed restrictions on

Punjab and Maharashtra

Cooperative Bank Limited, and

depositors will be not be allowed to

withdraw over 1,000 from the bank.

2. PMC also without prior approval in

writing from the RBI, will not be able

to grant or renew any loans and

advances.

3. The Directions were issued under

Section 35A of the Banking

Regulation Act, 1949 and shall

remain in force for a period of six

months.


given below:

(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3


is/are correct about the Secondary Market

for Corporate Loans in India?

1. The secondary market for loans can

be an important mechanism for

credit intermediaries to manage

credit risk and liquidity risk on their

balance-sheets, especially for

distressed assets.

2. The secondary loan market in India is

largely restricted to sale to asset

reconstruction companies and ad

hoc sale to other lenders including

banks.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Q51. Recently, the Securities and Exchange

Board of India (SEBI) constituted a working

group on Social Stock Exchanges (SSE). With


following statement(s) is/are correct about

the Social Stock Exchanges (SSE)?

1. A social stock exchange, broadly, is

understood as a platform that allows

investors to buy shares in a Social

enterprise that has been vetted by

the exchange.

2. Currently the Social Stock Exchanges

in India are facing the regulatory



challenges and the government has

imposed a prohibition on them.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about the Angel Tax which was

in news recently?

1. Angel Tax is levied on the companies

which avail exemptions and various

tax incentives.

2. The tax was introduced in the 2012

Union Budget by then finance

minister Pranab Mukherjee to arrest

laundering of funds.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Q53. Which of the following statements

is/are correct about the Minimum Alternate

Tax or MAT?

1. MAT is a tax provision reintroduced

in 1997 in an attempt to bring zero-

tax-high-profits companies into the

income tax net

2. Recently, the Finance Minister

Scrapped the MAT for companies

which will be established after 2019,

with an aim to attract investment


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about The Foreign

Contribution (Regulation) Act, 2010?

1. The Foreign Contribution

(Regulation) Act, 2010 and rules

framed under it (the "FCRA" or

"Act") regulate the receipt and usage

of foreign contribution by non-

governmental organisations

("NGOs") in India.

2. The Regulation of the act falls into

the purview of the Reserve Bank of

India (RBI) as it deals with the

financial legislation.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2



Q55. Recently, the Central Board of Direct

Taxes (CBDT) said it had entered into 26

advance pricing agreements (APAs) in the

first five months of the current financial

year. With reference to this identify which of

the following statement(s) is/are correct

about APAs?

1. An advance pricing agreement (APA)

is an ahead-of-time agreement

between a taxpayer and a tax

authority on an appropriate transfer

pricing methodology for a set of

transactions at issue over a fixed

period of time.

2. The progress of the APA scheme

strengthens the Government’s

resolve of fostering a non-adversarial

tax regime.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about the Market Intervention

Price Scheme (MIS) which was in news

recently?

1. MIS is a price support mechanism

implemented on the request of State

Governments for procurement of

perishable and horticultural

commodities in the event of a fall in

market prices.

2. Market Intervention Scheme works

in a similar fashion to Minimum

Support Price based procurement

mechanism for food grains, but is an

adhoc mechanism.

3. Food Corporation of India(FCI) is the

Nodal Agency for the procurement

under the MIS


given below:

(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3


(RBI) released the final ‘enabling framework

for regulatory sandbox,’. With reference to

this identify which of the following

statement(s) is/are correct?

1. The framework will likely be a

positive step for financial technology

start-ups and companies looking to

innovate in the fast changing and

highly regulated sector.

2. The regulatory sandbox allows live

testing of new products or services

in a controlled or test regulatory

environment.

3. The focus of the RS (regulatory

sandbox) initially would be narrow in



terms of areas of innovation, and

limited in terms of intake.


given below:

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3

Q58. Recently, a government-appointed task

force submitted its report on the new Direct

Tax Code, which seeks to replace the existing

Income Tax Act, the task was headed by

which of the following dignitary?

(a) Akhilesh Ranjan

(b) Urjit Patel

(c) M Sathiyavathy

(d) Kishore Tiwari


is/are correct about the Central Board of

Direct Taxes (CBDT)?

1. It is a constitutional authority

functioning under the Ministry of

Trade and Commerce.

2. CBDT provides essential inputs for

policy and planning of direct taxes in

India, at the same time it is also

responsible for administration of

direct tax laws through the Income

Tax Department.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are Incorrect about a Bond?

(a) A bond is an instrument to borrow

money and a bond could be

floated/issued by a country’s

government or by a company to

raise funds.

(b) The government bonds come with

the sovereign’s guarantee and are

considered one of the safest

investments.

(c) The yield of a bond is the effective

rate of return that it earns and this

rate of return is not fixed, as it

changes with the price of the bond.

(d) None of the above


is/are correct about the Pricing policy for

sugarcane in India?

1. The pricing of sugarcane is governed

by the statutory provisions of the

Sugarcane (Control) Order, 1966

issued under the Essential

Commodities Act (ECA), 1955.



2. Currently, the Central Government

fixes the Statutory Minimum Price

(SMP) of sugarcane and farmers are

entitled to share profits of a sugar

mill on 50:50 basis.

3. State governments also announce a

price called the State Advisory Price

(SAP) for Sugarcane.


given below:

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3

Q62. Recently, the Government removed

Debenture Redemption Reserve requirement

for Listed Companies, NBFCs and HFCs. With


following statement(s) is/are Incorrect?

A. The move will help in reducing the

cost of the capital raised by

companies through issue of

debentures and is expected to

significantly deepen the Bond

Market.

B. The rules, while retaining DRR

requirement for Unlisted Companies,

provide for reduction from a DRR of

25% to a DRR of 10% for such

companies, so as to safeguard

interests of investors.

C. Both A and B

D. Neither A nor B


is/are correct about Non-convertible

debentures (NCDs)?

1. Non-convertible debentures (NCDs)

are debt instruments that companies

issue to investors to raise money for

their capital requirements.

2. NCDs regularly pay interest at a fixed

rate for a fixed tenure till maturity.

3. Non-banking financial companies

(NBFC) and Housing finance

companies (HFCs) in India have been

the most frequent issuers of NCDs in

the market.


given below:

A. 1 and 2 only

B. 2 and 3 only

C. 1 and 3 only

D. 1, 2 and 3

Q64. Which of the following statement(S)

is/are correct about the Currency

Manipulation?

1. Currency manipulation is a policy

used by governments and central

banks to artificially lower the value

of their currency to gain an unfair

competitive advantage.

2. Currency manipulation can increase

exports and attract investments and



at the same time discourages

imports.


given below:

(e) 1 only

(f) 2 only

(g) Both 1 and 2

(h) Neither 1 nor 2


is/are correct about a cyclical slowdown of

an economy?

1. Cyclical slowdown of an economy is

a deep-rooted phenomenon that

occurs due to a one-off shift from an

existing paradigm.

2. Generally, interim fiscal and

monetary measures, temporary

recapitalization of credit markets,

and need-based regulatory changes

are required to revive the economy

out of Cyclical Slowdown.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about India Post Payments

Bank?

1. India Post Payments Bank (IPPB) has

been established under the

Department of Posts, Ministry of

Communication with 100% equity

owned by Government of India.

2. IPPB is the single largest platform in

the country for providing

interoperable banking services to the

customers of ANY BANK by

leveraging the last mile

unprecedented reach of the Postal

network.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about Equalization Levy?

1. It refers to the income tax payable

on capital raised by unlisted

companies via issue of shares where

the share price is seen in excess of

the fair market value of the shares

sold.

2. Equalisation Levy is a direct tax,

which is withheld at the time of

payment by the service recipient.




given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about Export Credit Guarantee

Corporation (ECGC)?

1. Export Credit Guarantee Corporation

of India (ECGC) is an Indian

enterprise which is administered by

the Government of India through the

Ministry of Commerce and Industry

2. It is the premier export finance

institution of the country that seeks

to build value by integrating foreign

trade and investment with the

economic rise of India.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Q69. The Union government recently

launched the updated Credit linked Capital

Subsidy Scheme (CLCSS) to allow micro,

small and medium enterprises (MSMEs)

access to capital. With reference to this


is/are correct?

1. It is a demand-driven scheme

without any upper limit on overall

annual spending on the subsidy

disbursal.

2. It is a component of Credit Linked

Capital Subsidy and Technology Up-

gradation scheme (CLCS-TUS).


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about the Special Economic

Zones (Amendment) Bill, 2019?

1. The SEZ (Amendment) Bill 2019

replaced an ordinance of March

2019, which amended the SEZ Act of

2005.

2. The SEZ bill prohibits the trusts in

India to set up units in special

economic zones (SEZs).

3. The SEZs are major export hubs in

India as the government provides

several incentives and single-window

clearance system and these are

treated as foreign entities in terms

of customs rules.


given below:



(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3


is/are correct about the Financial Stability

and Development Council(FSDC)?

1. It is an apex-level body constituted

by the government of India

constituted deal with macro

prudential and financial regularities

in the entire financial sector of India.

2. FSDC is responsible for fixing the

benchmark interest rate in India.

3. The idea to create FSDC was first

mooted by the Raghuram Rajan

Committee in 2008.


given below:

(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3

Q72. Which of the following are among the

major recommendations of Nandan Nilekani

Panel on Deepening digital payments?

1. The report has made policy

recommendations to all major

regulators such as RBI, SEBI, IRDAI

and DoT with the objective to reduce

cash based payments.

2. The Committee recommends the

government to set up special risk

mitigation and complaint registering

digital portals

3. The committee has RBI to set an

interchange rate for transaction

between customers and leave the

MDR on competitive market pricing

which would reduce the transaction

cost for customers.

4. The committee recommends the

operationalization of the FINCERT for

oversight, and monitoring security of

the digital payment systems.


given below:

(a) 1 only

(b) 1 and 2 only

(c) 1, 2 and 3 only

(d) 1, 2, 3 and 4


is/are correct about Exclusive Economic Zone

(EEZ)?

1. An exclusive economic zone (EEZ) is

a sea zone prescribed by the 1982

United Nations Convention on the

Law of the Sea(UNCLOS).

2. It stretches from the baseline of a

country out to 12 nautical miles

(nmi) from its coast.

3. EEZ confers full sovereignty to a

country over the waters and The

coastal state is free to set laws,

regulate use, and use any resource.


given below:



(a) 1 only

(b) 1 and 2 only

(c) 1 and 3 only

(d) 1, 2 and 3


is/are correct about Most Favored Nation

(MFN) status?

1. Every WTO member nation usually

grants MFN status to all other

members, in effect promising that

everyone will receive equitable

treatment from it.

2. The primary condition under MFN is

that a country must charge the same

tariff rate on imports irrespective of

their origin.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Q75. Financial performance and operational

efficiency of banks is objectively reflected in

their annual financial statements. With


following measures are taken for effective

Performance Evaluation of PSBS?

1. Public Sector Banks (PSBs) are

required to have their annual

financial statements approved by

their respective Board of Directors.

2. Banks are required to transparently

disclose their annual financial

statements to stock exchanges

3. Banks have to furnish a copy of AFS

to the Reserve Bank of India (RBI).

4. Banks have to present these at the

annual general meeting of their

shareholders for approval and

adoption after discussion.


given below:

(a) 1 only

(b) 1 and 2 only

(c) 1, 2 and 3 only

(d) 1, 2, 3 and 4

Q76. As per the Reserve Bank of India (RBI)

data on global operations, aggregate gross

advances of Public Sector Banks (PSBs)

increased more than 25% from 2008 to

2014. As per RBI inputs, the primary reasons

for spurt in stressed assets have been

observed to be which of the following?

1. Wilful default / loan frauds /

corruption in some cases

2. Aggressive lending practices of banks

3. Economic Slowdown

4. CAR norms which mandates Indian

banks to maintain a CAR of 9% under

Basel Norms.


given below:



(a) 1 only

(b) 1 and 2 only

(c) 1, 2 and 3 only

(d) 1, 2, 3 and 4

Q77. Which of the following measures have

been taken by the government of India to

expedite and enable resolution of NPAs of

PSBs?

(a) The Insolvency and Bankruptcy

Code, 2016 (IBC) has been enacted,

which has provided for the taking

over management of the affairs of

the corporate debtor at the outset of

the corporate insolvency resolution

process.

(b) SARFAESI Act has been amended to

make it more effective, with

provision for three months’

imprisonment in case the borrower

does not provide asset details and

for the lender to get possession of

mortgaged property within 30 days.

(c) Under the PSB Reforms Agenda,

PSBs have created Stressed Asset

Management Verticals to focus

attention on recovery, segregated

monitoring from sanctioning roles in

high-value loans, and entrusted

monitoring of loan accounts.

(d) All the above

Q78. Which of the following statement is/are

correct about Foreign Direct Investment?

(a) FDI is a major driver of economic

growth and a source of non-debt

finance for the economic

development of the country.

(b) India received the highest ever FDI

for any financial year in 2018-19.

(c) As per UNCTAD's World Investment

Report 2019, global foreign direct

investment (FDI) flows slid by 13% in

2018, to US $1.3 trillion from US $1.5

trillion the previous year.

(d) All the above


is/are correct about Priority Sector Lending?

1. Priority Sector Lending are targets

given by the government to the

Public Sector Banks for providing a

specified portion of the bank lending

to few specific sectors.

2. Bank credit to registered NBFCs for

on-lending is eligible for

classification as priority sector under

respective categories.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2




is/are correct about Regional Rural

Banks(RRBs)?

1. RRBs are Indian Scheduled

Commercial Banks operating at

regional level and created with a

view of serving primarily the rural

areas of India with basic banking and

financial services.

2. At present, the central government

and respective state governments

holds 50:50% stake in RRBs.

3. NABARD is responsible for regulating

and supervising the functions of

RRBs in India.


given below:

(a) 1 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3

Q81. The share of atomic energy in the total

electricity generation in India has remained

around 3% for many years and the major

reason for low share has been the low

installed capacity base. With reference to

this identify which of the following is/are

reasons for low capacity base?

1. Technology development and

international embargo regime that

persisted from 1974 to 2008.

2. Lack of availability of financial

resources in the first two decades as

India had to solely depend on

budgetary support.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2


is/are correct about the current Foreign

Direct Investment policy of Government of

India on Defence Sector?

1. FDI is allowed under automatic route

up to 49% and beyond 49% through

Government route wherever it is

likely to result in access to modern

technology or for other reasons to

be recorded.

2. The FDI Policy provides that 30% of

value of Products and equipments

has to be procured from India if the

Defence entity has FDI more than

51%.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2




is/are correct about Dairy Industry in India?

1. Indian cattle and buffaloes have

among the lowest productivity in the

world.

2. As per Goods and Services Tax Act

2017, the dairy products are exempt

from current GST.

3. To improve low productivity of

indigenous bovine breeds,

government has been implementing

Rashtriya Gokul Mission with aim of

development and conservation of

indigenous bovine breeds.


given below:

(a) 3 only

(b) 1 and 3 only

(c) 1 and 2 only

(d) 1, 2 and 3


is/are correct about the Occupational Safety,

Health and Working Conditions Code, 2019?

1. The Code applies to all

establishments and apprentices

registered under the Factories Act.

2. The Code repeals and replaces 13

labour laws relating to safety, health

and working conditions.

3. The code proposes that the central

and state governments will set up

Occupational Safety and Health

Advisory Boards at the national and

state level, respectively.


given below:

(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3

Q85. Which of the following are among the

various measures taken by the government

of India to stabilize the prices of essential

food items?

1. Implementing Price Stabilization

Fund (PSF) to help moderate the

volatility in prices of agri-

horticultural commodities like

pulses, onion, and potato.

2. Promulgation of appropriate

Minimum Support Prices to

incentivize farmers for increasing

production.

3. Utilizing Trade and fiscal policy

instruments like import duty and

export management through

instruments like Minimum Export

Price, export restrictions, etc. to

regulate domestic availability and

moderate prices

4. Imposition of stock limits and

advising States for effective action

against hoarders & black marketers


given below:



(a) 1 only

(b) 1 and 2 only

(c) 1, 2 and 3 only

(d) 1, 2, 3 and 4


is/are correct about the Dispute Settlement

Mechanism of the World Trade

Organization(WTO)?

1. Settling disputes is the responsibility

of the Dispute Settlement Body (the

General Council in another guise),

which consists of all WTO members.

2. Under the WTO rules of Dispute

Settlement rulings could only be

adopted by consensus, meaning that

a single objection could block the

ruling.

3. The WTO dispute Settlement

mechanism is based on the

provisions which exists under the

General Agreement on Tariffs and

Trade(GATT).


given below:

(a) 1 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3


is/are correct about Payments banks?

1. Payments banks is a new model of

banks conceptualised by the Reserve

Bank of India (RBI).

2. Payments banks can accept a

restricted deposit, which is currently

limited to 100,000 per customer and

may be increased further.

3. Payment banks can also issue loans

and credit cards upto to 100,000 per

customer.


given below:

(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3


is/are correct about Capital Adequacy Ratio

(CAR)?

1. It is the amount that banks have to

maintain in the form of their own

funds to offset any loss that banks

incur if the account-holders fail to

repay dues.

2. CAR is decided by each individual

bank.

3. The capital adequacy ratio is

calculated by dividing a bank's

capital by its risk-weighted assets.


given below:



(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3


is/are correct about Price Stabilization Fund?

1. It was set up to help regulate the

price volatility of important agri-

horticultural commodities like onion,

potatoes and pulses were also added

subsequently.

2. The scheme provides for maintaining

a strategic buffer of agri-horticultural

commodities for subsequent

calibrated release to moderate price

volatility and discourage hoarding

and unscrupulous speculation.

3. Under PSF scheme Minimum

Support Prices are also fixed by

Government of India to protect the

producer - farmers - against

excessive fall in price during bumper

production years.


given below:

(a) 1 and 2 only

(b) 1 and 3 only

(c) 2 and 3 only

(d) 1, 2 and 3

Q90. Which of the following components

forms a part of India’s Forex Reserves?

1. Foreign exchange assets (FCA)

2. Gold Reserves

3. SDRs (Special Drawing Rights with

the IMF)

4. Reserve position in IMF


given below:

(a) only

(b) 1 and 2 only

(c) 1, 2 and 3 only

(d) 1, 2, 3 and 4


is/are correct about Stagflation?

1. Stagflation is a situation in an

economy when inflation and

unemployment both are at higher

levels, contrary to conventional

belief.

2. Stagflation is basically a combination

of high inflation and low growth.

3. Stagflation excludes the inflation of

items such as vegetables whose

prices are too volatile.


given below:

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3




is/are correct about the National Agriculture

Market (eNAM)?

1. It is a Pan-India electronic trading

portal which networks the existing

APMC mandis to create a unified

national market for agricultural

commodities.

2. Small Farmers Agribusiness

Consortium (SFAC) is the lead agency

for implementing eNAM under the

aegis of Ministry of Agriculture and

Farmers’ Welfare, Government of

India.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Q93. There are multi-dimensional effects of

inflation on an economy both at the micro

and macro levels. With reference to this

identify which of the following statements

is/are correct?

1. Borrowers suffer and lenders benefit

out of inflation.

2. Inflation gives an economy the

advantage of lower imports and

import-substitution as foreign goods

become costlier.

3. Inflation increases employment in

the short-run, but becomes neutral

or even negative in the long run


given below:

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3


is/are correct about the National

Infrastructure Pipeline (NIP)?

(a) It has been launched to augment the

government of India's aim of

achieving $5 trillion economy by

2024-25.

(b) The NIP solely aims at unlocking the

potential of waterways and the

coastline to minimize infrastructural

investments required to meet these

targets.

(c) Projects under the NIP will be

funded by the Asian Development

Bank's (ADB).

(d) All the above

Q95. With reference to the Merchant

Discount Rate, which of the following

statements is/are correct?

1. It is a fee charged from a merchant

by a bank for accepting payments

from customers through credit and

debit cards in their establishments.



2. MDR charges are usually shared in

pre-agreed proportion between the

bank and a merchant and is

expressed in percentage of

transaction amount.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Q96. Which of the following statement

correctly describes the Marginal Standing

Facility (MSF) rate?

(a) It refers to the rate at which the

scheduled banks can borrow funds

overnight from RBI against

government securities.

(b) It is the rate at which the RBI lends

funds to commercial banks and

other financial institutions for a

period less than a year.

(c) It refers to the official interest rate

at which RBI will provide long term

loans to the commercial banks and

other financial institutions in India

(d) It refers to the minimum lending rate

below which a bank is not permitted

to lend.


is/are correct about the Small Finance

Banks(SFBs)?

1. Small Finance Banks is a specific

segment of banking created by RBI

under the guidance of Government

of India with an objective of

furthering financial inclusion.

2. Small Finance Banks can indulge in

lending but cannot accept demand

deposits.

3. SFBs are subject to all prudential

norms and regulations of RBI as

applicable to existing commercial

banks like maintenance of Cash

Reserve Ratio (CRR) and Statutory

Liquidity Ratio (SLR).


given below:

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3

Q98. With reference to the Operation Twist

conducted by the Reserve Bank of India(RBI)

recently, consider the following statements:

1. Under Operation Twist the RBI

conducted simultaneous purchase

and sale of government securities

under Open Market Operations

(OMO).

2. The tool essentially aims at changing

the shape of the yield curve through

simultaneous buying and selling of

long- and short-term government

bonds.




correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2 only

(d) Neither 1 nor 2


is/are correct about the Mineral Laws

(Amendment) Ordinance 2020 which was

approved by the Union Cabinet recently?

1. It was promulgated to amend the

Coal Mines (Special Provisions) Act,

2015, as well as the Mines and

Minerals (Development and

Regulation) Act, 1957.

2. The ordinance allows only public

sector undertakings(PSUs) to bid and

develop coal blocks in India.

3. The ordinance puts an end to captive

coal block auctions in future.


given below:

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3

Q100. The Mission PURVODAYA which was

launched recently by the Union Government,

is aimed at

(a) Accelerated development of eastern

India through integrated steel hub in

Kolkata, West Bengal.

(b) Social Infrastructure Development

relating to education and health

sectors in Eastern States.

(c) Bringing relevant technologies

developed by the academic,

scientific and research institutions to

the artisans and farmers especially

women in North eastern region.

(d) All the above

Q101. The Open Acreage Licensing Policy

(OALP) which sometimes appears in the

media is related to which of the following

sector?

(a) Hydrocarbon Exploration

(b) Telecom Sector

(c) Agriculture Sector

(d) Automobile Sector

Q102. In the context of Convertible

Debentures, consider the following

statements:

1. A convertible debenture is a type of

long-term debt issued by a company

that can be converted into stock

after a specified period.

2. Convertible debentures are usually

secured bonds with the underlying

collateral connected to the debt.




correct?

(e) 1 only

(f) 2 only

(g) Both 1 and 2

(h) Neither 1 nor 2


about the Foreign Portfolio Investment

(FPI):

1. It refers to the investment by non-

residents in Indian securities

including shares, government bonds,

corporate bonds, convertible

securities, infrastructure securities

etc.

2. FPIs are not allowed to invest in

unlisted shares and investment in

unlisted entities will be treated as

FDI.


Incorrect?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Q104. In the context of the 'Non Performing

Assets' in India, consider the following

statements:

1. A non-performing asset (NPA) is a

loan or advance for which the

principal or interest payment

remained overdue for a period of 90

days.

2. Banks are required to classify NPAs

further into Substandard, Doubtful

and Loss assets.

3. The Insolvency and Bankruptcy Code

(IBC) is one of the major reason

behind increasing number of NPAs in

India.


correct?

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3


is/are correct about Internet intermediary

companies?

1. Internet intermediary refers to a

company that facilitates the use of

the Internet which include internet

service providers, search engines

and social media platforms.

2. In India, the Information Technology

Act of 2000 protects online

intermediaries from liability for

criminally defamatory content

published in them by third parties.


given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2



Q106. Recently, the Ministry of Commerce

and Industry notified the setting up of the

first ever Special Economic Zone (SEZ) in

Tripura. With reference to this identify which

of the following statements is/are Incorrect?

1. Special economic zones (SEZs) in

India are areas that are established

under WTO's General Agreement on

Tariffs and Trade and offer

incentives to foreign business.

2. SEZs typically offer competitive

infrastructure, duty free exports, tax

incentives, and other measures

designed to make it easier to

conduct business

3. The SEZ in Tripura will be a Sector

Specific Economic Zone for Agro-

Based Food Processing.


given below:

(a) 1 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3

Q107. With reference to the National

Company Law Tribunal (NCLT), which of the

following statements is Incorrect?

(a) The National Company Law Tribunal

is a quasi-judicial body in India that

adjudicates issues relating to Indian

companies.

(b) The tribunal was established under

the Companies Act 2013 and is

based on the recommendation of

the Justice Jain committee.

(c) The NCLT is also the adjudicating

authority for insolvency resolution

process of companies and limited

liability partnerships under the

Insolvency and Bankruptcy Code,

2016.

(d) Decisions of the tribunal can only be

appealed to the Supreme Court of

India on a point of law.

Q108. With reference to the Fiscal Deficit,

which of the following statement is

Incorrect?

(a) It is the difference between all

receipts and expenses in both

revenue and capital account of the

government.

(b) It is calculated both in absolute

terms and also as a percentage of

the Gross Domestic Product (GDP) of

the country.

(c) It is an indication of the total

borrowings needed by the

government.

(d) All the above

Q109. The Ministry of Statistics and

Programme Implementation (MoSPI)

recently constituted a broad-based 28-

member “Standing Committee on Economic

Statistics” (SCES). With reference to this



identify, the SCES is headed by who among

the following?

(a) CP Chandrasekhar

(b) Hema Swaminathan

(c) Jeemol Unni

(d) Pronab Sen

Q110. With reference to the Controller

General of Accounts (CGA) in India, consider

the following statements:

1. It is the Principal Accounting Adviser

to Government of India and is

responsible for establishing and

maintaining a technically sound

Management Accounting System.

2. He is the guardian of the public

purse and controls the entire

financial system of the country at

both the levels—the Centre and the

state.


correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Q111. With reference to the Accessible India

campaign, consider the following

st

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