GK - Economics 6

1. Which is the largest commercial bank in India?

a) Reserve Bank of India
b) State Bank of India
c) ICICI Bank
d) Bank of India

2. Bank of Hindustan is the oldest bank in India. When did it start functioning?

a) 1990
b) 1770
c) 1885
d) 1892

3. The Bank of Calcutta, Bank of Bombay and Bank of Madras were merged in 1921 to form

a) Reserve Bank of India
b) Imperial Bank of India
c) Bank of India
d) Union Bank of India

4. When was the Reserve Bank of India established?

a) 1935
b) 1920
c) 1928
d) 1947

5. When was the Imperial Bank of India nationalized to form the State Bank of India?

a) 1947
b) 1949
c) 1951
d) 1955

6. The Reserve Bank of India was nationalized in?

a) 1947
b) 1948
c) 1950
d) 1956

7. What is a Bank which has capital and reserves of over Rs. 5 lakhs called?

a) National Bank
b) Cooperative Bank
c) Scheduled Bank
d) Unscheduled Bank

8. The Export-Import (EXIM) Bank was set up in

a) 1982
b) 1983
c) 1987
d) 1985

9. Which of the following has the sole right of issuing paper notes in India?

a) Union Government
b) Reserve Bank of India
c) Ministry of Finance
d) Supreme Court

10. In India, coins and subsidiary coins are issued by

a) Union Government
b) Reserve Bank of India
c) Ministry of Finance
d) Supreme Court

11. Which of the following is entrusted with the task of receiving all money on behalf of the Government as also with the task of making payments on their behalf?

a) State Bank of India
b) Reserve Bank of India
c) Ministry of Finance
d) Union Parliament

12. When was the International Monetary Fund (IMF) established?

a) 1944
b) 1945
c) 1948
d) 1950

13). Decision taken at Bretton Woods Conference led to the formation of

a) IDA
b) IMF
c) ADB
d) IFC

14. The International Bank for Reconstruction and Development (IBRD) is better known as

a) World Bank
b) Asian Development Bank
c) IMF
d) It is known by its name

15. Which sister organization of the World Bank provides long term loans at zero interest to the poorest developing countries?

a) Asian Development Bank
b) IMF
c) International Developmental Association
d) International Finance Corporation

16. The International Finance Corporation (IFC) was established in?

a) 1956
b) 1972
c) 1985
d) 1960

17. Where is the headquarters of Asian Development Bank (ADB) situated?

a) Manila
b) Delhi
c) Bangkok
d) Hong Kong

18. Which sister organization of the World Bank helps private activity in developing countries by financing projects with long-term capital in the form of equity and loans?

a) Asian Development Bank
b) IMF
c) International Developmental Association
d) International Finance Corporation

19. Who is known as the ‘Father of Economics’?

a) Adam Smith
b) Chanakya
c) Machiavelli
d) None of these

20. Which was the first Indian Bank to introduce credit card?

a) State Bank of India
b) Central Bank of India
c) Union Bank of India
d) ICICI

21. When did India become a member of the IMF?

a) 1947
b) 1956
c) 1960
d) 1951

22. Euro is the currency of European Union. When did it come into being?

a) 1999
b) 1995
c) 2000
d) 2001

23. When did the Foreign Exchange Regulation Act (FERA) come into being?

a) 1973
b) 1975
c) 1980
d) 1981

24. When did Regional Rural Banks start functioning in India?

a) 1975
b) 1947
c) 1956
d) 1960

25. In India, income tax is levied by

a) Union Government
b) State Governments
c) Ministry of Finance
d) RBI

Answers

1. State Bank of India
2. 1770
3. Imperial Bank of India
4. 1935
5. 1955
6. 1948
7. Scheduled Bank
8. 1982
9. Reserve Bank of India
10. Ministry of Finance
11. Reserve Bank of India
12. 1944
13. IMF
14. World Bank
15. International Developmental Association
16. 1956
17. Manila
18. International Finance Corporation
19. Adam Smith
20. Central Bank of India
21. 1947
22. 1999
23. 1973
24. 1975
25. Union Government