Which of the following Committees are related to Banking reforms:
i) Narsimham Committee
ii) P J Nayak Committee
iii) Sunil Mehta Committee
iv) Nachiket Mor Committee

• (i), (ii) and (iii) only
• (ii), (iii) and (iv) only
• (i) and (iv) only
• (i), (ii), (iii) and (iv)
Solution
Correct Option: D  [ (i), (ii), (iii) and (iv) ]

Explanation:

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
Solution
Correct Option: A  [ Service tax ]

Explanation:

Which is the following is direct tax ?

• Income tax
• Excise duty
• Sales tax
• None of these
Solution
Correct Option: A  [ Income tax ]

Explanation:

Which of the following pairs is/are incorrectly matched?

i. Finance Commission	: Constitutional of India
ii. Securities and Exchange Board of India	: Statutory Body
iii. NITI Aayog	: Constitutional Body
iv. Reserve Bank of India	: Statutory Body

Select the correct answer using the codes given below.

• (i) and (iii) only
• (ii) and (iv) only
• (iii) only
• (iv) only
Solution
Correct Option: C  [ (iii) only ]

Explanation:

"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

The Iron and Steel plants of Rourkela and Durgapur were conceived under the:

• First Five Year Plan
• Second Five Year Plan
• Third Five Year Plan
• Fourth Five Year Plan
Solution
Correct Option: B  [ Second Five Year Plan ]

Explanation:

The architect of the Second Five Year Plan was :

• Mahatma Gandhi
• Subhash Chandra Bose
• P. C. Mahalanobis
• None of them
Solution
Correct Option: C  [ P. C. Mahalanobis ]

Explanation:

Who prints and supplies the currency notes in India:

• State Bank of India
• United Bank of India
• Reserve Bank of India
• United Commercial Bank of India
Solution
Correct Option: C  [ Reserve Bank of India ]

Explanation:

Who was the first Governor of Reserve Bank of India (RBI)?

• C D Deshmukh
• Sir Osborne Smith
• James Braid Taylor
• Benegal Rama Rau
Solution
Correct Option: B  [ Sir Osborne Smith ]

Explanation: from 1935 to 1937

Which of the following is the role of Finance Commission ?

• Sharing of net proceeds of taxes between the Centre and States.
• Recommending principles for governing the grants-in-aid to the States by the Centre
• Recommendations on matters referred to it by the President for the interest of finance
• All of the above
Solution
Correct Option: D  [ All of the above ]

Explanation: