Existence of huge black money creates

• increase in the inequality of income
• decrease in the quality of output
• high living standard for all
• Both (B) and (C)
Correct Option: A  [ increase in the inequality of income ]

Remark:

Which of the following was established in 1990 as a wholly owned subsidiary under the Small Industries Development Bank of India Act, 1989 ?

• RBI
• SIDBI
• ICICI
• NABARD
Correct Option: B  [ SIDBI ]

Remark:

Which of the following is not an asset held by the commercial bank ?

• Bills of exchange
• Current account deposits
• Money lent at short notice
• Credit balances with the Reserve Bank
Correct Option: B  [ Current account deposits ]

Remark:

The Gandhian economy is based on the principle of:

• Competition
• Trusteeship
• State Control
• None of the above
Correct Option: B  [ Trusteeship ]

Remark:

Which one of the following is an indirect tax levied by the Central Government in India ?

• Service tax
• Corporate Income tax
• Profession tax
• Agricultural Income tax
Correct Option: A  [ Service tax ]

Remark:

The LPG model of development was introduced by India since:

• 1991
• 1992
• 1993
• 1994
Correct Option: A  [ 1991 ]

Remark:

The World Trade Organisation has replaced which organisation ?

• ITO
• UNCTAD
• GATT
• OECD
Correct Option: C  [ GATT ]

Remark:

NPA of a commercial bank means:

• Net-Performing Asset
• New-Performing Asset
• Non-Personal Account
• Non-Performing Asset
Correct Option: D  [ Non-Performing Asset ]

Remark: A non performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue for long period.

Where is the headquarter of Reserve Bank of India (RBI) situated ?

• Chennai
• New Delhi
• Kolkata
• Mumbai
Correct Option: D  [ Mumbai ]

Remark: Established in Calcutta but shifted to Mumbai in 1937.

Which of the following is a primary sector of economic activities in India ?

• Food processing
• Telecom services
• Manufacturing industry
• Agriculture
Correct Option: D  [ Agriculture ]

Remark: