Indian Economy

The central banking functions in India are performed by the

• Central Bank of India

• Reserve Bank of India

• State Bank of India

• Punjab National Bank

Development expenditure of the Central government does not include

• defence expenditure

• expenditure on economic services

• expenditure on social and community services

• grant to states

ICICI is the name of a

In the second nationalization of commercial banks, ___ banks were nationalized.

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

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

• only aggregate demand is increased

• all the expenditure is denoted national debt payment only

• none

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

• will decrease

• will increase

• will neither increase nor decrease

• None of the above

India changed over to the decimal system of coinage in

• April 1995

• April 1957

• April 1958

• April 1959

The association of the rupee with pound sterling as the intervention currency was broken in

• 1990

• 1991

• 1992

• 1993

On which one of the followings is the benefits received principle of taxation to achieve optimality bases?

• investment pattern has been directed towards capital intensive industries

• productivity in agriculture has been high enough to induce people to stay with agriculture

• ceiling on land holdings have enabled more people to own land and hence their preference to stay with agriculture

• people are largely unaware of the significance of transition from agriculture to industry for economic development

On July 12, 1982, the ARDC was merged into

• RBI

• NABARD

• EXIM Bank

• None of the above