GK Questions 2024 for Competitive Exams SSC CGL , IBPS, UPSC

1.     The central banking functions in India are performed by the

A.            Central Bank of India

B.            Reserve Bank of India

C.            State Bank of India

D.            Punjab National Bank

Answer : B

2.     Gilt-edged market means

A.     bullion market

B.     market of government securities

C.     market of guns

D.     market of pure metals

Answer : B

3.     In the last one decade, which one among the following sectors has attracted the highest foreign direct investment inflows into India?

A.     Chemicals other than fertilizers

B.     Services sector

C.     Telecommunication

D.     Food processing

Answer : C

4.     Depreciation means

A.     closure of a plant due to lock out

B.     closure of a plant due to labour trouble

C.     loss of equipment over time due to wear and tear

D.     destruction of a plant in a fire accident

Answer : C

5.     Deficit financing leads to inflation in general, but it can be checked if

A.    government expenditure leads to increase in the aggregate supply in ratio of aggregate demand

B.    only aggregate demand is increased

C.    all the expenditure is denoted national debt payment only

D.    All of the above

 Answer : D

6.     If all the banks in an economy are nationalized and converted into a monopoly bank, the total deposits

A.    will decrease

B.    will increase

C.    will neither increase nor decrease

D.    None of the above

 Answer : C

7.     India changed over to the decimal system of coinage in

A.    April 1995

B.    April 1957

C.    April 1958

D.    April 1994

Answer : B

8.     On July 12, 1982, the ARDC was merged into

A.    RBI


C.    EXIM Bank

D.    None of these

 Answer : B

9.     Which of the following items would not appear in a company’s balance sheet?

A.     Value of stocks of raw materials held

B.     Total issued capital

C.     Revenue from sales of the company’s products

D.     Cash held at the bank

 Answer : C

10.  In the state of India, the State Financial Corporation have given assistance mainly to develop

A.     agricultural farms

B.     cottage industry

C.     large-scale industries

D.     medium and small-scale industries

Answer : D

11.  The first wholly Indian Bank was set up in

A.     1794

B.     1899

C.     1894

D.     1902

Answer : C

12.  Excise duty is a tax levied on the

A.     import of goods

B.     export of goods

C.     production of goods

D.     sale of goods

Answer : C

13.  Which of the following is the first Indian private company to sign an accord with Government of Myanmar for oil exploration in two offshore blocks in that country?

A.     Reliance Energy

B.     Essar Oil

C.     GAIL

D.     ONGC

Answer : B

14.  Which of the following is not viewed as a national debt?

A.     Provident Fund

B.     Life Insurance Policies

C.     National Saving Certificate

D.     Long-term Government Bonds

Answer : C

15.  Deficit financing means that the government borrows money from the

A.     RBI

B.     Local Bodies

C.     Big businessmen

D.     IMF

Answer : A

16.  If an economy is equilibrium at the point where plans to save and to invest are equal, then government expenditure must be

A.     Zero

B.     equal to government income

C.     larger than government income

D.     negative

Answer : B

17.  The Board of Industrial and Financial Reconstruction (BIFR) came into existence in

A.     1984

B.     1986

C.     1987

D.     1989

Answer : C

18.  Reserve Bank of India was nationalized in the year

A.     1935

B.     1945

C.     1949

D.     1948

Answer : C

19.  How many banks were nationalized in 1969?

A.     14

B.     12

C.     11

D.     16

Answer : A

20.  In India, inflation measured by the

A.     Wholesale Price Index number

B.     Consumers Price Index for urban non-manual workers

C.     Consumers Price Index for agricultural workers

D.     National Income Deflation

Answer : A


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