Business & Economy MCQs PDF [SSC, Bank, State Exams] |

Business & Economy MCQs PDF [SSC, Bank, State Exams]

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Today we are sharing an important pdf in hindi Business & Economy MCQs PDF [SSC, Bank, State Exams] दोस्तों यह 1500+ Indian Economy Question Answer PDF आपके सभी SARKARI EXAM में बहुत उपयोगी साबित होगी जैसे, MBA, CAT, Hotel Management, Bank PO, RBI, SBI PO, NABARD, BSRB Recruitment, SCRA, Railway Recruitment, LIC AAO, GICAAO, Asst. Grade, SSC, UDC, LDC, SSC MTS, SSC CPO, SSC CHSL, SSC CGL, SSC JE, HSSC, I Tax, Central Excise, CBI, CPO, B ED, MBBS, IAS, PCS, IFS, UPSC CDS, UPPSC, BPPSC, MPPSC, UPSSSC, WBPSC, AFCAT, BPSC, Defence exam, police, patwari, Clark, VDO, और भी बहुत से अन्य SARKARI EXAM में उपयोगी साबित होगी ।

Business & Economy MCQs PDF [SSC, Bank, State Exams] The economy refers to the system by which goods and services are produced, distributed, and consumed in a society. It encompasses a wide range of activities, including agriculture, manufacturing, trade, finance, and services. The performance of an economy is measured by various indicators, such as GDP, inflation, employment rate, and productivity. A strong economy is characterized by high levels of production and consumption, low unemployment rates, stable prices, and healthy financial systems. However, economic conditions can fluctuate due to various factors, such as changes in government policies, technological advancements, natural disasters, or global events, leading to periods of economic growth or recession. The study of economics aims to understand these factors and how they affect the economy, as well as to develop policies that promote sustainable growth and well-being for individuals and society as a whole.

Business & Economy MCQ

Q1.Who are the targeted beneficiaries of ‘UPI123Pay’ facility, recently launched by the Reserve Bank of India?

[A] Visually Challenged Persons

[B] Feature Phone Users

[C] Children

[D] Senior Citizens

Correct Answer: B [Feature Phone Users]

Notes:

RBI Governor Shaktikanta Das launched UPI for feature phones called UPI123Pay. He also launched 24×7 helpline for digital payments named ‘DigiSaathi’.

UPI 123Pay will allow customers to use feature phones for all transactions except scan and pay. It doesn’t need an internet connection for transactions while customers have to link their bank account with feature phones to use this facility.

Q2.Which Indian bank has been awarded IFR Asia’s Asian Bank of The Year?

[A] ICICI Bank

[B] State Bank of India

[C] Axis Bank

[D] HDFC Bank

Correct Answer: C [Axis Bank]

Notes:

India’s third-largest private sector bank, Axis Bank, has been awarded IFR Asia’s Asian Bank of The Year, to acknowledge its performance in equity and debt issuance.

The bank has also won the ‘Best DCM House in India’ Award at the Finance Asia’s Country Awards, this year. The bank has 4,700 domestic branches (including extension counters) and 11,060 ATMs across the country as on December 31, 2021.

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Q3.Which is the largest private sector bank of India by assets, as of 2022?

[A] ICICI Bank

[B] HDFC Bank

[C] Axis Bank

[D] Kotak Mahindra Bank

Correct Answer: B [HDFC Bank]

Notes:

HDFC Bank and HDFC Limited recently announced the merger of the two entities. HDFC Bank, India’s largest private sector bank by assets, has a market cap of Rs 8.35 trillion.

HDFC Limited, India’s largest housing finance company with Assets Under Management (AUM) worth Rs 5.26 trillion and a market cap of Rs 4.44 trillion will merge with HDFC Bank. The subsidiary or associates of HDFC Limited will also be transferred to HDFC Bank, after regulatory approvals.

Q4.As per the World Bank’s April update, what is India’s GDP forecast for fiscal year 2022-23?

[A] 7.5 %

[B] 8.0 %

[C] 8.5 %

[D] 9.0 %

Correct Answer: B [8.0 %]

Notes:

The World Bank has cut India’s GDP forecast for fiscal year 2022-23 to 8% from 8.7% predicted earlier, citing worsening supply bottlenecks and rising inflation risks caused by Russia’s invasion of Ukraine.

The World Bank lowered its growth estimate by a full percentage point for South Asia, excluding Afghanistan, to 6.6%. Asian Development Bank Outlook 2022 earlier said that India is estimated to have a growth rate of 7.5% for 2022-23.

Q5.As per RBI Guidelines, what is the minimum Net-owned fund required for NBFCs to issue Credit Cards?

[A] Rs 10 Crores

[B] Rs 50 Crores

[C] Rs 100 Crores

[D] Rs 500 Crores

Correct Answer: C [Rs 100 Crores]

Notes:

As per a recent notification from the Central Bank, Non-banking finance companies (NBFC) will need approval from the Reserve Bank of India (RBI) to issue credit cards.

Any finance company including non-deposit taking one will require a Net-owned fund of Rs 100 crore for entering the credit card business. Regional rural banks can issue credit cards in collaboration with their sponsor bank or other banks. Further, financially sound scheduled urban cooperative Banks (UCBs) with minimum net worth of Rs 100 crore which are core banking system enabled (CBS) enabled can issue credit cards, subject to some conditions.

Q6.Which Indian Bank launched the ‘Open-for-all’ Digital ecosystem for MSMEs?

[A] State Bank of India

[B] ICICI Bank

[C] HDFC Bank

[D] Canara Bank

Correct Answer: B [ICICI Bank]

Notes:

ICICI Bank has launched ‘Open-for-all’ Digital ecosystem for MSMEs. The digital service for Micro, Small and Medium Enterprises (MSMEs) can be used by customers of other banks.

One of the new services it provides is sanction of instant and paperless overdraft facility up to Rs 25 lakh through ‘InstaOD Plus’. The feature enables customers of any bank to avail of an overdraft instantly.

Q7.Which is the top trading partner of India in 2021-22?

[A] China

[B] USA

[C] UAE

[D] The Netherlands

Correct Answer: B [USA]

Notes:

The United States overtook China to become India’s top trading partner in the year 2021-22. According to Commerce ministry, in 2021-22, bilateral trade between the US and India stood at USD 119.42 billion as against USD 80.51 billion in 2020-21.

Both imports from USA and exports to the USA increased in the year. During 2021-22, India’s trade with China stood at USD 115.42 billion as compared to USD 86.4 billion in 2020-21.

Q8.What is the fiscal deficit recorded in India for 2021-22 (in percentage of GDP)?

[A] 7.51 %

[B] 7.01 %

[C] 6.71 %

[D] 6.21 %

Correct Answer: C [6.71 %]

Notes:

The Controller General of Accounts (CGA) released the fiscal deficit for 2021-22, which improved to 6.71 per cent of the GDP over the revised budget estimate of 6.9 per cent. The fiscal deficit in absolute terms was Rs 15,86,537 crore (provisional).

The increase was mainly on account of higher tax realisation. The tax receipts during the fiscal stood at Rs 18.2 trillion as against the revised estimates (RE) of Rs 17.65 trillion.

Q9.Which country is currently India’s largest trading partner?

[A] United States

[B] China

[C] Russia

[D] United Kingdom

Correct Answer: A [United States]

Notes:

According to the latest data of the Union Ministry of Commerce and Industry, the United States is India’s largest trading partner. The bilateral trade is worth 119.42 billion USD. India’s second largest trading partner is China.

Q10.What is the real GDP growth forecast for India in FY23 by CRISIL?

[A] 8.2 percent

[B] 7.9 per cent

[C] 7.3 per cent

[D] 6.8 per cent

Correct Answer: C [7.3 per cent]

Notes:

Domestic rating agency Crisil lowered its real GDP growth forecast for India to 7.3 per cent in FY23 from 7.8 per cent estimated earlier.

It cited the reasons for downward revision to be higher oil prices, slowing of export demand and high inflation. This forecast is in line with the RBI’s estimate of 7.2 real GDP growth for this fiscal year.

Q11.Which bank has partnered with GIFT SEZ (special economic zone) to promote IT and financial services?

[A] HDFC Bank

[B] ICICI Bank

[C] Axis Bank

[D] State Bank of India

Correct Answer: B [ICICI Bank]

Notes:

ICICI Bank and GIFT SEZ (special economic zone) have signed a Memorandum of Understanding (MoU) to promote GIFT SEZ to Indian as well as global businesses including IT/ITeS (IT enabled services) and financial services.

GIFT SEZ is the country’s first International Financial Services Centre (IFSC) which is being developed as a global financial services hub. Both of them will jointly work towards attracting global investors and capital market firms to set up operations in GIFT SEZ.

Q12.Which Union Ministry/institution regulates the ‘Nidhi Companies’ in India?

[A] Ministry of Finance

[B] Reserve Bank of India

[C] Ministry of Corporate Affairs

[D] Securities Exchange Board of India

Correct Answer: C [Ministry of Corporate Affairs]

Notes:

Ministry of Corporate Affairs regulates the ‘Nidhi Companies’ in India. Recently, a few important amendments in Rules have been carried out which are applicable to the Companies to be incorporated after Nidhi (amendment) Rule, 2022.

A Public Company incorporated as a Nidhi with a share capital of Rs. 10 lakhs, needs to first get itself declared as a Nidhi from the Central Government. The Promoters and Directors of the company have to meet the criteria of fit and proper person. In case no decision is conveyed by the Central Government within 45 days of the receipt of applications, approval would be deemed as granted.

Q13.Which was the top-most investor in India during fiscal year 2021-22?

[A] USA

[B] Singapore

[C] UAE

[D] The Netherlands

Correct Answer: B [Singapore]

Notes:

According to a statement issued by the commerce and industry ministry, India has recorded highest ever annual FDI inflow of USD 83.57 billion in the Financial Year 2021-22.

FDI equity inflow in manufacturing sectors has increased by 76 per cent in 2021-22. Singapore was the topmost investor in India last fiscal year, accounting for 27% of the FDI, followed by the US at 18% and Mauritius at 16%. In 2020-21, the inflows were USD 81.97 billion.

Q14.What is the repo rate after the RBI’s June 2022 Monetary Policy Committee (MPC) meeting?

[A] 4.2 %

[B] 4.5 %

[C] 4.9 %

[D] 5.0 %

Correct Answer: C [4.9 %]

Notes:

Reserve Bank of India’s Monetary Policy Committee (MPC) decided to hike the Policy Repo Rate by 50 basis points to 4.9 per cent in its June 2022 meeting.

The MPC members voted unanimously to hike rates and to continue the withdrawal of the accommodative stance. RBI’s MPC last month raised the repo rate by 40 basis points. Real GDP forecast for FY23 has been retained at 7.2% while inflation projection was revised for FY23 to 6.7 %.

Q15.What is the Retail inflation based on Consumer Price Index (CPI) is May 2022?

[A] 7.98 %

[B] 7.04 %

[C] 6.75 %

[D] 6.40 %

Correct Answer: B [7.04 %]

Notes:

Retail inflation based on Consumer Price Index eased to 7.04 per cent in May from 7.79 per cent in April this year.

As per the Ministry of Statistics and Programme Implementation data, inflation slipped mainly due to easing prices in Food & Beverages and Fuel & light sections. Food & Beverages have a weight of more than 54 percent in Consumer Price Index.

Q16.Which bank has announced to lend USD 250 million to start-ups in India?

[A] DBS Bank

[B] HSBC India

[C] Citi Bank India

[D] Standard Chartered Bank

Correct Answer: B [HSBC India]

Notes:

Foreign bank HSBC India announced that it will lend USD 250 million to high-growth, tech-led start-ups in India.

India is the third largest start-up ecosystem in the world. Recently there is a rise in the debt needs of the start-ups in India and a ‘funding winter’ is impacting equity funding to the sector. This issue is set to be addressed by the commercial banking vertical of HSBC India.

Q17.As per the RBIs liberalised norms, what is the new limit of External Commercial Borrowing (ECB) under automatic route?

[A] USD 500 million

[B] USD 1 billion

[C] USD 1.5 billion

[D] USD 2 billion

Correct Answer: C [USD 1.5 billion]

Notes:

Reserve Bank of India (RBI) liberalised norms to boost inflows of foreign exchange. The measures include easing norms for FPI investment in debt market, and increasing the External Commercial Borrowing (ECB) limit under the automatic route from USD750 million or its equivalent per financial year to USD 1.5 billion.

Exemption from Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) on Incremental FCNR (B) and NRE Term Deposits was also announced.

Q18.Which Indian bank has opened India’s first dedicated branch for start-ups?

[A] Canara Bank

[B] State Bank of India

[C] HDFC Bank

[D] ICICI Bank

Correct Answer: B [State Bank of India]

Notes:

State Bank of India has opened India’s first dedicated branch for start-ups. Karnataka Digital Economy Mission (KDEM) and State Bank of India signed a Memorandum of Understanding (MoU), for the SBI Start-up Hub branch in Koramangala.

The collaboration will enable start-ups across the state to access banking facilities, funding, and credit facilities. In the branch, collateral-free financial assistance of Rs 2 crores will be given to start-up entrepreneurs.

Q19.What is the Goods and Service Tax (GST) for fresh milk and pasteurised milk?

[A] 0 %

[B] 5 %

[C] 12 %

[D] 18 %

Correct Answer: A [0 %]

Notes:

The Government has recently clarified that fresh milk and pasteurised milk are fully exempted from Goods and Service Tax (GST).

Other milk products including curd and butter milk are also exempted from GST if sold in forms other than those pre-packaged and labelled. GST of 5 per cent applies to the milk products when sold in pre-packaged and labelled form and Ultra High-Temperature Milk.

Q20.As per the recent update from the IMF (July 2022), what is India’s growth forecast for 2022-23?

[A] 6.8 %

[B] 7.0 %

[C] 7.4 %

[D] 8.0 %

Correct Answer: C [7.4 %]

Notes:

The International Monetary Fund (IMF) has cut India’s growth forecast for 2022-23 (FY23) to 7.4 per cent, citing less favourable external conditions and fast policy tightening by RBI.

In its update to the April World Economic Outlook, the IMF said that global recession in 2022 was ruled out with a growth estimate of 3.2 per cent. Asian Development Bank recently slashed its growth projection for India to 7.2 per cent for FY23, from 7.5 per cent.

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