INSIGHTS STATIC QUIZ 2019
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Question 1 of 5
1. Question
Which of the following is the primary objective of monetary policy in India?
Correct
Solution: a)
The Reserve Bank of India (RBI) is vested with the responsibility of conducting monetary policy with the primary objective of maintaining price stability while keeping in mind the objective of growth. This responsibility is explicitly mandated under the Reserve Bank of India Act, as amended in 2016. It is now transferred to the Monetary Policy Committee, which will also face the same primary objective, i.e. to keep inflation within an acceptable band. If inflation is in control, prices will be relatively stable.
Incorrect
Solution: a)
The Reserve Bank of India (RBI) is vested with the responsibility of conducting monetary policy with the primary objective of maintaining price stability while keeping in mind the objective of growth. This responsibility is explicitly mandated under the Reserve Bank of India Act, as amended in 2016. It is now transferred to the Monetary Policy Committee, which will also face the same primary objective, i.e. to keep inflation within an acceptable band. If inflation is in control, prices will be relatively stable.
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Question 2 of 5
2. Question
Which of the following is not a consequence of rupee depreciation?
Correct
Solution: c)
Rupee deprecation badly affects importers or those who wish to visit foreign countries for holidays as they need more local currency to get the same service or product. When rupee depreciates exporters from India are benefited. (Eg: Software companies, seafood exporters etc.) Depreciation of rupee benefit the overseas Indians as those who are working abroad will gain more on remitting money to their homeland.
Incorrect
Solution: c)
Rupee deprecation badly affects importers or those who wish to visit foreign countries for holidays as they need more local currency to get the same service or product. When rupee depreciates exporters from India are benefited. (Eg: Software companies, seafood exporters etc.) Depreciation of rupee benefit the overseas Indians as those who are working abroad will gain more on remitting money to their homeland.
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Question 3 of 5
3. Question
Under the Provisions of the Banking Regulation Act, 1949 RBI can
- Examine on oath any director or other officer of the bank
- Issue directions to banks for resolution of stressed assets
- Prohibit banks against entering into any particular transaction
Which of the above statements is/are correct?
Correct
Solution: d)
The Reserve Bank of India (RBI) regulates and supervises Public Sector and Private Sector Banks. The powers of RBI are wide-ranging and comprehensive to deal with various situations that may emerge in all banks, irrespective of ownership i.e. the Public Sector and the Private Sector owned Banks.
Incorrect
Solution: d)
The Reserve Bank of India (RBI) regulates and supervises Public Sector and Private Sector Banks. The powers of RBI are wide-ranging and comprehensive to deal with various situations that may emerge in all banks, irrespective of ownership i.e. the Public Sector and the Private Sector owned Banks.
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Question 4 of 5
4. Question
Which one of the following items is not included in the ‘invisibles’ on current account of the balance of payment of India?
Correct
Solution: d)
Loans from the foreign banks constitute capital account of Balance of Payment.
Incorrect
Solution: d)
Loans from the foreign banks constitute capital account of Balance of Payment.
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Question 5 of 5
5. Question
Which of the following statements best describes Unemployment?
Correct
Solution: b)
Incorrect
Solution: b)