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Indian Economy Test
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Indian Economy Test 17
Read Instructions for the test.
Negative marks are -0.33 per wrong answer
Right answer is 1 mark
No time limit but finish in 30 mins
Solution can be found at below chapters:
Test series is based on following chapters.
Indian Economy Chapter 8: ECONOMIC BODIES
Q1: The chairman of D.I.C.G.C is a
Deputy governor RBI
Q2: Deposit Insurance and Credit Guarantee Corporation insures
commercial banks, land development banks
regional rural banks, credit society, cooperative banks
Q3: Which is true regarding DICGC ?
All demand deposits and time deposits are covered.
Credit guarantee is provided against farm loan defaults.
The banks have to pay the insurance premium from own resources and the depositors can use the insurance in case the bank is dissolved
Q4:National Housing Bank
It is a wholly owned subsidiary of the RBI created by an act in 1988.
It is the regulator of housing finance institutions in India and provides support to such institutions and promotes them at regional and national level.
It has a board of directors with a deputy governor of RBI as chairman.
Q5: Residex is published by
national housing bank
Office of economic advisor
Q6: The N.H.B Residex is for
number of houses in India
Low cost housing scheme
interest subvention scheme for housing
comparing the price movement of housing in various cities
Q7:Financial Stability Development Council
HQ - Dept of Economic Affairs, Ministry of Finance.
Chairman - Finance Minister,
Members - Secretaries of Finance Ministry, Chief Economic Advisor to the Finance Ministry and Heads of Financial Regulators like RBI, PFRDA, IRDA, SEBI.
Q8:Functions - Financial Stability Development Council
Coordination among-st regulators.
It can't override decisions taken by a regulator in his own domain.
Coordination with international bodies.
Q9: Functions - Financial Stability Development Council
Financial literacy, Financial inclusion.
Sub committee under chairmanship of RBI governor resolves disputes between regulators.
Q10: Insurance Regulatory and Development Authority
It is a statutory body
Register insurance companies.
Regulate insurance industry.
Q11: The main functions of Insurance Regulatory and Development Authority are
Protect customers and frame regulations to promote competition
Companies have to maintain separate accounts for receipts and payments.
Monitor fee rates, commission, accounting procedures, solvency of insurance agencies.
Q12: Features of Insurance Regulatory and Development Authority are
Chairman, 5 fulltime and 4 part time members appointed by the Government of India.
HQ - Hyderabad, Telangana.
Term of chairman is 5 years or till age of 65 years, 5 years or till age of 62 years for full time members and 5 year term for part time members
Q13: Foreign Contribution Regulation Act provisions state
To ensure that foreign money isn't used for financing illegal activities in India.
Any agency receiving foreign contributions should get registration with the Ministry of Home Affairs
Elected candidates, Public servants, Media can't receive foreign contribution.
Q14: Which is true ?
Currently 17% of the GDP is from agriculture and allied activities as per the 2014 year data.
The share of agriculture and allied sector in employment is 49% followed by services and then manufacturing.
Q15: Which is true ?
Irrigation land is 65 million hectares with 25 million from surface sources and 40 million from ground water.
Pesticide consumption per hectare is lowest in the world. Improper method of use like spraying or dissolving.
both a and b
Q16: Rice, maize, millets, cotton, jute, sugarcane, groundnuts are which type
Q17: Wheat, tobacco, gram, linseed and mustard are which type of crop
Q18: PM Fasal Bima Yojana, 2016
Remote sensing, smart phone, DBT for payment
Kharif premium: 2% of total premium, Rabi: 1.5%, horticulture: 5%
Covers damage due to natural calamities and pest attacks.
Q19: PM Fasal Bima Yojana, 2016
All farmers, share croppers eligible.
Ministry of agriculture is implementing it.
Q20: Kisan Credit Card
The scheme started in 1999 by the Govt of India, NABARD and RBI to provide short term cash loans to farmers without the need to go through hassles of loan approvals.
The card is valid for five years and collateral is needed if loan amount is Rs. 1 lakh or more. Repayment has to be within 12 months.
Q21: Which is true ?
India is the second largest producer of silk in the world after China.
Indian silk is 74% Mulberry, Eri - 16%, Tasar - 10% and Muga - 0.5%
Q22: Which is false ?
Declaration of droughts is done by the States.
Meteorological drought and agriculture drought are the two types of droughts
Meteorological drought is when rainfall is 10% or more less than normal. Agricultural drought is 20% or more area of State is affected by drought.
Disaster management is in union list
Q23: Nisarga Runa technology to
convert the fly ash from thermal boilers or ordinary biodegradable waste into weed free manure, CO2, water vapour and biogas.
This technology is developed at Bhabha Atomic Research Center, Trombay, Mumbai.
Q24:Land of flowers, first fully organic State is
Q25:Facts and Statistics of e-waste in India
Only 4.5% of the e waste is handled.
Western region generates 1/3rd of the e waste and Mumbai is top in e waste generation.
e-waste has Antimony, cadmium, lead, mercury, triphenyl phosphate, polychlorinated biphenyl.
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