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OBJECTIVE QUESTIONS FOR ECONOMICS, TAXES MONEY AND BANKING
Post: #1

OBJECTIVE QUESTIONS FOR ECONOMICS, TAXES MONEY AND BANKING


.docx  ECONOMICS-MCQ.docx (Size: 20.56 KB / Downloads: 68)

Choose the correct option from the choices given under the question.

1. The largest revenue in India is obtained from __________
1. Railways 2. Excise Duty
3. Sales Tax 4. Direct Taxes
ANSWER: 2
2. The tax levied by Central Government and collected by State Government is
________
1. Stamp Duty 2. Excise Duty
3. Income Tax 4. Gift Tax
ANSWER: 1
3. What is the major share in revenue of State Governments?
1. Stamp Duty 2. Excise Duty
3. Sales Tax 4. Income Tax
ANSWER: 3
4. The tax levied by Local Governments i.e. Municipal Corporations and
municipalities is ____________
1. Income Tax 2. Wealth Tax
3. House Tax 4. Gift Tax
ANSWER: 3
5. The tax collected by the State Governments and given to local bodies is
__________
1. Income Tax 2. Wealth Tax
3. House Tax 4. Professional Tax
ANSWER: 4
6. The period for Call Money is ________
1. 10 to 15days 2. 1 to 14 Days
3. 15 to 30 Days 4. One Month
ANSWER: 2
7. Who regulates the money circulation in India?
1. State Bank Of India 2. Reserve Bank Of India
3. NABARD 4. Commercial Banks
ANSWER: 2
8. Which of the following is not an organized sector in India?
1. Nationalised Banks 2. Regional Rural Banks
3. Cooperative Banks 4. Chits and Money lenders
ANSWER: 4
9. Who will settle the grievances of customers of banks?
1. Reserve Bank of India 2. State Bank of India
3. Local Courts 4. Ombuds Men
ANSWER: 4
10. Who introduced the Banking Ombudsmen Scheme?
1. RBI 2. SBI
3. Ministry of Finance 4. NABARD
ANSWER: 1
11. When was OMBUDS MEN SCHEME first introduced?
1. November 2006 2. October 1981
3. June 1995 4. January 1998
ANSWER: 3
12. Which was the firth Bank corporated by the Indians? (1881)
1. Imperial Bank of India 2. State Bank Of India
3. Avadh Commercial Bank 4. Reserve Bank of India
ANSWER: 3
13. When was the Avadh Commercial Bank established?
1. 1881 2. 1894
3. 1898 4. 1899
ANSWER: 1
14. When was Reserve Bank of India established?
1. 1920 2. 1925
3. 1935 4. 1948
15. When was Reserve Bank of India Nationalised?
1. 1947 2. 1948
3. 1949 4. 1950
ANSWER: 3
16. When was Indian Banking Act come into force?
1. 1948 2. 1949
3. 1950 4. 1951
ANSWER: 2
17. Imperial Banks were amalgamated and changed as _________
1. Reserve Bank of India 2. State Bank of India
3. Subsidiary Banks 4. Union Bank of India
ANSWER: 2
18. When was Imperial Bank was Changed as State Bank of India?
1. January 1st 1935 2. Feb 26 1947
3. July 1st 1955 4. July 1st 1959
ANSWER: 3
Post: #2
OBJECTIVE QUESTIONS FOR THE ECONOMY, TAXES, MONEY AND BANKING

Choose the correct option from the options given under the question.
1. The highest income in India is obtained from __________
1. Railways 2. Special Taxes
3. Sales tax 4. Direct taxes
ANSWER: 2
2. The tax levied by the Central Government and collected by the State Government
________
1. Stamp duty 2. Customs duties
3. Taxes on income 4. Taxes on gifts
ANSWER 1
3. What is the largest part of the income of the state governments?
1. Stamp duty 2. Customs duties
3. Sales tax 4. Income tax
ANSWER: 3
4. The tax levied by Local Governments, that is, Municipal and
Municipalities is ____________
1. Income tax 2. Tax on wealth
3. House taxes 4. Gift taxes
ANSWER: 3
5. The tax collected by the state governments and granted to local entities
__________
1. Income tax 2. Tax on wealth
3. House tax 4. Professional tax
ANSWER: 4
6. The period for the call money is ________
1. 10 to 15 days 2. 1 to 14 days
3. 15 to 30 days 4. One month
ANSWER: 2
7. Who regulates the circulation of money in India?
1. State Bank of India 2. Bank of the Reserve of India
3. NABARD 4. Commercial Banks
ANSWER: 2
8. Which of the following is not an organized sector in India?
1. Nationalised Banks 2. Regional Rural Banks
3. Cooperative Banks 4. Banks and Lenders
ANSWER: 4
9. Who will resolve customer complaints from banks?
1. Reserve Bank of India 2. State Bank of India
3. Local Courts 4. Ombuds Men
ANSWER: 4
10. Who introduced the Banking Ombudsman Plan?
1. RBI 2. SBI
3. Ministry of Finance 4. NABARD
ANSWER 1
11. When did OMBUDS MEN SCHEME first appear?
1. November 2006 2. October 1981
3. June 1995 4. January 1998
ANSWER: 3
12. What was the first bank owned by the Indians? (1881)
1. Imperial Bank of India 2. State Bank of India
3. Avadh Commercial Bank 4. Reserve Bank of India
ANSWER: 3
13. When was the Commercial Bank Avadh established?
1881 2. 1894
3. 1898 4. 1899
ANSWER 1
14. When was the Reserve Bank of India established?
1. 1920 2. 1925
1935 4. 1948
15. When was the Reserve Bank of India nationalized?
1947 2. 1948
3. 1949 4. 1950
ANSWER: 3
16. When did the Bank Act of India enter into force?
1948 2. 1949
3. 1950 4. 1951
ANSWER: 2
17. The imperial banks were amalgamated and changed as _________
1. Reserve Bank of India 2. State Bank of India
3. Subsidiary banks 4. Union Bank of India
ANSWER: 2
18. When was the Imperial Bank changed as the State Bank of India?
1. January 1, 1935 2. Feb 26 1947
3. 1 July 1955 4. 1 July 1959
ANSWER: 3
19. How many banks were nationalized for the first time?
1 10 2 12
3. 14 4. 16
20. When did the second phase of nationalization of the banks take place?
1. 9 July 1969 2. 10 July 1968
3. 16 August 1985 4. 15 April 1980
ANSWER: 4
21. How many banks were in the second phase of nationalization?
1 4 2 5
3 6 4 7
ANSWER: 3
22. Who will act as banker of the Government of India?
1. State Bank of India 2. Reserve Bank of India
3. NABARD 4. Nationalized Banks
ANSWER: 2
23. Where is the Reserve Bank Main Headquarters in India?
1. Mumbai 2. Delhi
3. Kolkotta 4. Ahmedabad
ANSWER 1
24. Who was the first governor of the Reserve Bank of India?
1. K.A. Narasimham 2. Malhotra
3. A.K. Bitch 4. A.B.A Smith
ANSWER: 4
25. When was the leading bank scheme introduced?
1. 1967 2. 1968
3. 1969 4. 1974
ANSWER: 3
 

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