Irom Chanu Sharmila

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a. m.s swaminathan
b. Mhinder singh randhawa
c. Varghese kurien
d. none of these

21. Author of book “planned economy of india” is?
a. mahinder singh randhawa
b. b.r ambedkar
c. visvesvaryya
d. none of these
22.national planning council was established in?
a. 1965
b. 1975
c. 1985
d. 1995
23.the goals of monetary policy do not include?
a. maximum output
b. full employment
c. price stability
d. maximum tax revenue
24. The consumer’s surplus can be defined as?
a. extra units of commodity bought
b. surplus commodity left after consumption
c. difference between actual price and potential price
d. total consumer satisfaction
25. Marginal utility, a consumer derives from good is?
a. change in his total utility as a result of adding one unit to his stock to good
b. utility derived from particular good
c. change in utility derived as a result of change in price of good
d. change in his total utility when he buys extra units of good

26.” If the Indian airlines is making loss on passenger traffic, it should increase its prices” the suggested remedy would only work if demand for air travel had a price elasticity of?

a. 1
b. less than 1 but more than 0
c. greater than 1
d. 0
27. Currency drain is phenomenon reffered to when
a. holding of currency by foreigners in country goes up
b. domestic currency is exported 
c. the currency holding by parallel economy increases
d. bank’s cash is drained into non bank customers
28. The two-gaps theory refers to?
a. savings gap and wage-goods gap
b. savings gap and exchange gap
c. savings gap and employment gap
d. the wage-goods gap and exchange gap
29. The demand for good is elastic if?
a. demand for that good increases when price falls
b. decrease in price results in decrease in total expenditure
c. quantity demanded increases less than proportionately with decrease in price level
d. increase in public expenditure
30. Saving is function of?
a. investment
b. export
c. improvement in productivity
d. income
31. Bank rate means?
a. interst rate charged by money lenders
b. interest rate charged by scheduled banks
c. rate of profit of banking institution
d. official rate of interest charged by central bank of the country

32.currency notes in india are printed and supplied by?

a. security press, nashik
b. security press, Mumbai
c. security press, noida
d. rbi, new delhi
33. When did india become member of international monetary fund?
a. 1947
b. 1950
c. 1951
d. 1955
34. The first Indian bank was
a.traders bank
b.imperial bank
c. presidency bank, Kolkata
d. none of these
35.second nationalization of commercial bank was held in?
a. 1979
b. 1980
d. 1982

30 jan-leprosy eradication day 
4th feb-cancer day
10th march kidney day (
World Kidney Day, celebrated annually on March 10th, 2011 is a time when the International Society of Nephrology (ISN) and the International Federation of Kidney Foundation (IFKF) come together to step up awareness about our kidneys,_)
15th march-world disabled day (and consumer rights day )
24th march worrld tb day 
26th march world epilepsy day 
7th april -WORLD HEALTH DAY/who day (in honour of establishment of world health organization)

3rd may2011 -asthma day (falls ion first tuesday of may)

8th may world redcross day
12TH international nurses day 
31st may anti tobacco day 
5th june environment day 
14th june blood donor day 
1st july doctors day 
11th july world population day
World Breastfeeding Week 2011
(1st August 2011-7)
Organ Donor Awareness Week – 2011
(8thAugust 2011)
29th spet world heart day 
10thoct world mentAL HEALTH day (national post day )
‎16th oct -world food day
10 niv immuinsation day 
14th nov diabetes day 
17th nov national epielpsy day 
1st dec -world aids day 

Monetized Deficit is the borrowing made from the RBI on the net addition to the securities placed with the RBI. It means infusion of fresh currency in the market.

Deficit Financing is deliberately created gap between public revenue and public expenditure.

Zero Base Budgeting: A technique where the budget of each ministry is prepared assuming that there was no budget in the previous year.

Laffer Curve is related to Tax Collection

Treasury Bills are bonds (debt securities) with maturity of less than a year. These are issued to meet short time mismatches in receipts and expenditure. Bonds of longer maturity are called dated securities.

13. Which of the following programs meets the credit needs of poor women?

a) Mahila Samriddhi Yojna 
b) Rashtriya Mahila Kosh 
c) Indira Mahila Yojna 
d) Mahila Samakhya Programme

14. National income is the

a) Net National Product at Market price 
b) Net National product at factor coast 
c) net domestic product at market price 
d) net domestic product at factor cost

15. Which of the following programs aims at the promotion of savings among rural women?

b) Rashtriya Mahila Kosh 
c) Mahila Samriddhi Yojna 
d) Indira Mahila Yojna 
e) Javhar Rozgar Yojna

4. The terms TRIPS and TRIMS are related to

c) EFTA 

5. In which year was the new liberalized industrial policy announced in India?

a) 1989 
b) 1990 
c) 1991 
d) 1992

  1. Which industry employs the largest number of women in India?
    a) tea 
    b) textile 
    c) jute 
    d) coal

    2. Which of the following is not a cash crop?
    a) Jute 
    b) groundnut 
    c) jowar 
    d) sugarcane

    3. In India which of the following taxes is levied by the state governments?
    a) Excise duty on liquor 

    4. With which aspect of commerce are ‘Bulls and Bears’ associated?
    b) Stock Exchange market 


1. The origin of western type commercial Banking in India dates back to the 18th century.

2. The story of banking starts from Bank of Hindusthan established in 1779 and it was first bank at Calcutta under European management.

• In 1786 General Bank of India was set up.

3. Since Calcutta was the most active trading port in India, mainly due to the trade of the British Empire, it became a banking center.

• Three Presidency banks were set up under charters from the British East India Company- Bank of Calcutta, Bank of Bombay and the Bank of Madras. These worked as quasi central banks in India for many years.
• The Bank of Calcutta established in 1806 immediately became Bank of Bengal.
• In 1921 these 3 banks merged with each other and Imperial Bank of India got birth. It is today’s State Bank of India.
• The name was changed after India’s Independence in 1955. So State bank of India is the oldest Bank of India.

4. In 1839, there was a fruitless effort by Indian merchants to establish a Bank called Union Bank. It failed within a decade.

5. Next came Allahabad Bank which was established in 1865 and working even today.

• The oldest Public Sector Bank in India having branches all over India and serving the customers for the last 145 years is Allahabad Bank. Allahabad bank is also known as one of India’s Oldest Joint Stock Bank.

6. The Oldest Joint Stock bank of India was Bank of Upper India established in 1863 and failed in 1913.

7. The first Bank of India with Limited Liability to be managed by Indian Board was Oudh Commercial Bank. It was established in 1881 at Faizabad. This bank failed in 1958.

8. The first bank purely managed by Indian was Punjab National Bank, established in Lahore in 1895. The Punjab national Bank has not only survived till date but also is one of the largest banks in India.

9. However, the first Indian commercial bank which was wholly owned and managed by Indians was Central Bank of India which was established in 1911.

• Central Bank of India was dreams come true of Sir Sorabji Pochkhanawala, founder of the Bank. 
• Sir Pherozesha Mehta was the first Chairman of this Bank.

10. Many more Indian banks were established between 1906-1911. This was the era of the Swadeshi Movement in India. Some of the banks are Bank of India, Corporation Bank, Indian Bank, Bank of Baroda, Canara Bank and Central Bank of India.

• Bank of India was the first Indian bank to open a branch outside India in London in 1946 and the first to open a branch in continental Europe at Paris in 1974. 

• The Bank was founded in September 1906 as a private entity and was nationalized in July 1969. Since the logo of this Bank is a star, its head office in Mumbai is located in Star House, Bandra East, Mumbai.

11. There was a district in Today’s Karnataka state called South Canara under the British empire. It was bifurcated in 1859 from Canara district , thus making Dakshina Kannada and Udupi district. It was the undivided Dakshina Kannada district. It was renamed as Dakshina Kannada in 1947. Four banks started operation during the period of Swadeshi Movement and so this was known as “Cradle of Indian Banking. 

• This was the first phase of Indian banking which was a very slow in development. This era saw many ups and downs in the banking scenario of the country.

12. The Second Phase starts from 1935 when Reserve bank of India was established. 

• Between the period of 1911-1948, there were more than 1000 banks in India, almost all small banks. The Reserve Bank of India was constituted in 1934 as an apex Bank, however without major government ownership. Government of India came up with the Banking Companies Act 1949. This act was later changed to Banking Regulation (Amendment) Act 1949. 

• The Banking Regulation (Amendment) Act of 1965 gave extensive powers to the Reserve Bank of India. The Reserve Bank of India was made the Central Banking Authority.

13. The banking sector reforms started immediately after the independence. These reforms were basically aimed at improving the confidence level of the public as most banks were not trusted by the majority of the people. Instead, the deposits with the Postal department were considered safe.

14. The first major step was Nationalization of the Imperial Bank of India in 1955 via State Bank of India Act. 

• State Bank of India was made to act as the principal agent of RBI and handle banking transactions of the Union and State Governments.

15. In a major process of nationalization, 7 subsidiaries of the State Bank of India were nationalized by the Indira Gandhi regime. In 1969, 14 major private commercial banks were nationalized. These 14 banks Nationalized in 1969 are as follows: 

o Central Bank of India
o Bank of Maharastra
o Dena Bank
o Punjab National Bank
o Syndicate Bank
o Canara Bank
o Indian Bank
o Indian Overseas Bank
o Bank of Baroda
o Union Bank
o Allahabad Bank
o Union Bank of India
o UCO Bank
o Bank of India.

16. The above was followed by a second phase of nationalization in 1980, when Government of India acquired the ownership of 6 more banks, thus bringing the total number of Nationalised Banks to 20. The private banks at that time were allowed to function side by side with nationalized banks and the foreign banks were allowed to work under strict regulation.

17. After the two major phases of nationalization in India, the 80% of the banking sector came under the public sector / government ownership.

18. Please note the following sequence of events: 

Creation of Reserve bank of India: 1935 
Nationalization of Reserve Bank of India : 1949 (January ) 
Enactment of Banking Regulation Act : 1949 (March) 
Nationalization of State Bank of India : 1955 
Nationalization of SBI Subsidiaries : 1959 
Nationalization of 14 major Banks : 1969 
Creation of Credit Guarantee Corporation: 1971 
Creation of Regional Rural Banks : 1975 
Nationalization of 7 more banks with deposits over Rs. 200 Crore: 1980

19. The result was outstanding. The public deposits in these banks increased by 800% , as the government ownership gave the public faith and trust.

20. The third phase of development of banking in India started in the early 1990s when India started its economic liberalization.

1.An economy is at the take offstage on its path to development when it
A) becomes stagnant
B) begins steady growth
C) is liberalized
D) gets maximum foreign aid

2.Which of the following is the basic characteristic of Oligopoly?

A) a few sellers, one buyer
B) a few sellers, many buyers
C) a few sellers, a few buyers
D) many sellers, a few buyers

3.In India, inflation is measured by

A) wholesale price index number

B) consumer price index for urban non-manual workers

C) consumer price index for agricultural workers
D) national income deflation

4.The difference between Government’s total expenditure and total receipts(excluding borrowing) is called

A) Fiscal Deficit
B) Gross Profit
C) Net Income
D) Depreciation

5.What do we call an agreement whereby an issuing Bank at the request of the Importer (Buyer) undertakes to take payment to the exporter (Beneficiary) against stipulated documents?

A) Bill of exchange
B) Letter of Exchange
C) Letter of Credit
D) Bill of entry

6.Which among the following duties is applied by a government to control the exports of a commodity?

A) Custom duty
B) Excise Duty
C) Anti dumping duty
D) Dumping Duty

7.Consider the following statements in context with Treasury Bulls?

A) They are issued by Government of India on behalf of RBI
B) They are mostly for short term borrowings
C) Treasury Bills cannot be purchased by any person resident
D) None of These
8.When there is an inflationary trend in the economy what would be trend in the pricing of the Bank products?
A) Increasing trend
B) Decreasing trend
C) Constant trend
D) There is no relevance of the inflation in pricing of the Banking Products

9.Sensitive list items in trade refers to

A) Items which are costlier to produce inIndia
B) Items whose import leads to lower prices for Indian consumer
C) Items whose import reduces the market share of domestic producers
D) Items which are injurious to health such as tobacco and alcohol

10.As per Demand-Supply Concepthigher demand compared to same supply leads to

A) Higher Price
B) Lower price
C) No Impact on Price
D) None of These

11.As per Demand-Supply Concept, higher supply compared to same demand leads to

A) Higher Price
B) Lower price
C) No Impact on Price
D) None of These

12.Difference between Export and Import when Export> Import; knows as

A) Current Account Surplus
B) Current Account Deficit
C) Trade Surplus
D) Trade Deficit
13.Increase in aggregate demand due to increased private, public and government spending leads to
A) Demand-PullInflation
B) Cost-Push Inflation
C) Does not affect Inflation
D) None of These

14. Which one in the list is not an approach to calculated GDP?

A) Production Approach
B) Spening Approach
C) Expenditure Approach
D) Income Approach

15.Which is this is not associated with deteriorating economic condition

A) High Inflation
B) High Unemployment Rate
C) High Fiscal Deficit
D) High Foreign Cash inflow 1944, planning and development department was set up under the chairmanship of?
a. a. dalal
b. pt. jawahar lal Nehru
c. visvesvaryya
d. none of these
37.who was first governor of RBI?
a. obsborne arkall smith
b. C.D deshmukh
c. visvesvaryya
d. none of these
38. First Indian governor of RBI?
a. obsborne arkall smith
b. C.D deshmukh c. visvesvaryya
d. none of these

39.Small industries development bank of india(SIDBI) was established in?

a. 1989
b. 1990
c. 1991
40.national bank of agriculture and rural development (NABARD) was established in?
a. 1982 b. 1985
c. 1986
d. 1987
41. Export-Import bank of india(EXIM) was established in?
a. 1982
c. 1984
d. 1985
42. Industrial bank od india(IDBI) was established in?
a. 1961
b. 1962
c. 1963
d. 1964
43. Largest number of regional rural banks(RRB’s) are in which state?
a. Maharashtra
b. kerala c. UP
d. Jharkhand
44. First regional rural bank(partham grameen bank) was established in 1975 at ?
a. nashik(maharashtra)
b. jalgaon(maharashtra)
c. Ludhiana(punjab)
d. Moradabad(UP) 45. First regional rural bank of india (pratham grameen bank) was sponsored by which bank?
a. state bank of india
b. oriental bank of commerce

c. syndicate bank

d. dena bank
46. …………… committee recommended the lead bank scheme in 1969?
a.nariman committee
b. C. rangarajan committee
c. tendulkar committee
d. none of these insurance corporation was established in?
a. 1954
b. 1955
c. 1956 d. 1957
48.general insurance corporation was established in? a. 1973
b. 1974
c. 1975
d. 1976
49. New pension scheme (NPS) is regulated by?
a. PFRDA(pension fund regulatory and development authority)
b. SEBI(securities and exchange board of india)
c. LIC
d. none of these
50. Insurance regulatory and development authority (IRDA) was established in?
a. 1999
b. 2000
c. 2001
d. 2002
11.HDI measure was firstly given by which noble prize winner economist?
a. amartya sen
b.mehbub ul haq
c. mohammad yar khan
d. none of these
12.National rural health mission(NRHM) was launched in?

a. 2000

b. 2001
c. 2002
d. 2005 13.according to EPI( Environmental performance index) 2012 report prepared by yale and Columbia university, india with EPI of 48.3%, is ranked at
a. 121
b. 125 c. 132
d. 56
14.hazari committee is related to?
a. industrial policy b. small scale industry
d. none of these
15. C Rangarajan committee is related to?
a. industrial policy
b. small scale industry
c.disinvestment d. none of these

16.india is ……….largest producer of world in steel and ranks ………….in production of milk?

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