The qualification for the Chairman and the members of the Finance Commission are specified in:

• Finance Act of 1951
• Finance Act of 1952
• Finance Act of 1950
• Finance Act of 1953
Solution
Correct Option: A  [ Finance Act of 1951 ]

Explanation:

The period of high inflation and low economic growth is termed as:

• Stagnation
• Take-off stage in economy
• Stagflation
• Depression
Solution
Correct Option: C  [ Stagflation ]

Explanation:

Tertiary sector activities include

• Cottage industries
• Mining activities
• Construction activities
• Infrastructure services
Solution
Correct Option: D  [ Infrastructure services ]

Explanation:

NABARD stands for:

• National Activated Bank for Agriculture and Rural Development
• National Bank for Agriculture and Rural Development
• National Agricultural Backward and Rural Development
• National Bank for Accelerated Rural Development
Solution
Correct Option: B  [ National Bank for Agriculture and Rural Development ]

Explanation:

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

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

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

NPA of a commercial bank means:

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

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

"SEBI" stands for the:

• State Earnings Board of India
• Securities and Exchange Bank of India
• Securities and Exchange Board of India
• State Exchange Bank of India
Solution
Correct Option: C  [ Securities and Exchange Board of India ]

Explanation: The Securities and Exchange Board of India was constituted as a non-statutory body on April 12, 1988 through a resolution of the Government of India.
The Securities and Exchange Board of India was established as a statutory body in the year 1992

In India, Special Economic Zones were established to enhance:

• Technology Development
• Free Trade
• Foreign Investment
• Employment
Solution
Correct Option: B  [ Free Trade ]

Explanation:

Fiscal policy is connected with:

• exports and imports
• issue of currency
• public revenue and public expenditure
• liquidity of money
Solution
Correct Option: C  [ public revenue and public expenditure ]

Explanation:

The Reserve Bank of India was established in the year :

• 1930
• 1935
• 1940
• 1945
Solution
Correct Option: B  [ 1935 ]

Explanation: RBI Nationalized on 1st Jan, 1949.