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OBJECTIVE QUESTIONS FOR ECONOMICS, TAXES MONEY AND BANKING 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 19. How many banks were first nationalised? 1. 10 2. 12 3. 14 4. 16 20. When was the second phase of nationalisation of banks done? 1. 9th July 1969 2. 10th July 1968 3. 16th August 1985 4. 15th April, 1980 ANSWER: 4 21. How many banks were in second phase of nationalisation? 1. 4 2. 5 3. 6 4. 7 ANSWER: 3 22. Who will act as the banker to the Government of India? 1. State Bank of India 2. Reserve Bank of India 3. NABARD 4. Nationalised Banks ANSWER: 2 23. Where is the Head Quarter of Reserve Bank of India? 1. Mumbai 2. Delhi 3. Kolkotta 4. Ahmedabad ANSWER: 1 24. Who was first governor of Reserve Bank of India? 1. K.A. Narasimham 2. Malhotra 3. A.K. Vadia 4. A.B.A Smith ANSWER: 4 25. When was Lead Bank Scheme introduced? 1. 1967 2. 1968 3. 1969 4. 1974 ANSWER: 3 Labels: OBJECTIVE QUESTIONS FOR ECONOMICS, TAXES MONEY AND BANKING 0 comments

General Socio-Economic and Banking Awareness For Bank Probationary Officers Exam Posted by exam Sunday, May 30, 2010 at 3:40 AM General Socio-Economic & Banking Awareness For Bank Probationary Officers Exam 1. India recently proposed with which of the following countries to develop solar city ? (A) Russia (B) Japan (C) U.S.A. (D) Poland 2. Which of the following has been brought within the ambit of the Right to

Information by the recent Delhi High Court Verdict? (A) President of India (B) Prime Minister of India (C) Chief Justice of the Supreme Court (D) None of the above 3. The Jawahar Lal National Solar Mission recently launched by Prime Minister Dr. Manmohan Singh aims at generating/adding 20,000 Megawatt of power by (A) 2015 (B) 2022 (C) 2018 (D) 2021 4. The full form of BVRAAM is (A) Beyond Visual Range Airto- Air Missile (B) Beyond Visionary Resistence Air-to-Air Machine (C) Beyond Vision Random Airto- Air Missile (D) None of the above 5. As per a recent survey, which of the following Indian Institutes of Technology has been ranked on the top ? (A) IIT Kanpur (B) IIT Madras (C) IIT Kharagpur (D) IIT Hyderabad 6. The Cabinet Committee on Economic Affairs (CCEA) recently approved the setting up in the country of (A) 375 Model Colleges (B) 374 Model Colleges (C) 372 Model Colleges (D) 380 Model Colleges 7. As per the New York Times recently conducted survey the fourth best destination in the list of 31 places to go in 2010 is (A) Mumbai (B) Mysore (C) Agra (D) Lucknow 8. Mohd. Najib bin Tun Abdul Razak is the Prime Minister of (A) Indonesia (B) Malaysia (C) Sudan (D) Egypt 9. Recently ISRO (Indian Space Research Organisation) tested successfully its most powerful rocket motor. It was (A) S-500 (B) S-200 (C) S-700 (D) S-300 10. Lee Myung-bak is the President of (A) South Korea (B) Singapore (C) Hong Kong (D) North Korea 11. India recently celebrated its (A) 60th Republic Day (B) 61st Republic Day (C) 59th Republic Day (D) None of the above 12. Indian National Trust for Art and Cultural Heritage (INTACH) recently signed a Memorandum of Understanding with (A) China (B) Japan

(C) Mongolia (D) None of the above 13. The high level panel formed in Nepal to push Peace Process in Nepal is headed by (A) Pushpa Kumar Dahal (B) Girija Prasad Koirala (C) Jalanath Khanal (D) None of the above 14. Sebastian Pinera has been elected the President on January 17, 2010 of which one of the following South American Countries ? (A) Chile (B) Ecuador (C) Venezuela (D) Peru 15. Protocol 14 which recently came into news is related to (A) UN sanction against Iran (B) European Human Rights Convention (C) UN initiative on climate change control (D) None of the above 16. China has recorded growht for 2009 (A) 85% (B) 92% (C) 87% (D) 75% 17. World Economic Forum Meeting this year was held in (A) Geneva (B) Davos (C) London (D) Paris 18. World Social Forum Meeting in January 2010 was held in (A) Mexico (B) Mumbai (C) Porto Alegre (D) Doha 19. On January 28, 2010, five persons for the murder of Sheikh Mujibur Rahman were executed Mujibur Rahman was the first President of (A) Afghanistan (B) Maldives (C) Pakistan (D) Bangladesh 20. Which of the following states has recently signed three agreements with World Bank ? (A) Orissa (B) Andhra Pradesh (C) Karnataka (D) Kerala 21. Which of the following recently acquired Chocolate Bar-maker Cadbury ? (A) Tata Industries (B) Kraft Foods (C) Reliance (D) Convergys 22. Which of the following States/ UTs recently approved its new industrial policy ? (A) Delhi (B) Puducherry (C) Rajasthan (D) Madhya Pradesh 23. SAARC International University is being set up at (A) Kathmandu (B) Delhi (C) Dhaka (D) Colombo

24. The new National Security Advisor (NSA) is (A) J. N. Dixit (B) M. K. Narayan (C) Shiv Shankar Menon (D) V. K. Singh 25. Who among the following is not correctly matched ? Governor State (A) K. Sankarnarayanan Maharashtra (B) Shivraj Patil Jharkhand (C) E. S. L. Narsimhan Andhra Pradesh (D) Urmila Singh Himachal Pradesh 26. V. K. Singh is the new Chief of (A) Army Staff (B) Air Force (C) Navy (D) None of the above 27. The new Prasar Bharti Chief is (A) Urmila Singh (B) Mrinal Pande (C) Prabha Rao (D) Shiv Shankar Menon 28. Reena Kaushal is the first Indian woman to reach (A) South Pole (B) North Pole (C) Mt. Everest (D) None of the above 29. The 2008 Dada Saheb Phalke Award has been conferred on (A) Dilip Kumar (B) Dev Anand (C) V. K. Murthy (D) None of the above 30. As per 56th National Awards recently announced, the best feature film is (A) A Wednesday (B) Antaheen (C) Oye Lucky (D) Aai Kot Nai 31. As per 56th National Film Awards for 2008, which of the following is incorrectly matched? Awardee Award (A) Bala Best Director (B) Arjun Rampal Best Supporting Actor (C) Upendra Limye Best Actor (D) Shreya Ghoshal Best Supporting Actress 32. Who has won the Best Actress Award under 56th National Film Awards for 2008 ? (A) Rekha (B) Priyanka Chopra (C) Kangana Ranaut (D) Kareena Kapur 33. Who among the following has not been given Padma Vibhushan Award the second highest civilian award of India this year ? (A) Zohra Sehgal (B) Prathap C. Reddy (C) Umalayapuram Shivaraman (D) Amir Khan 34. Antarctica recently had its first (A) Biggest wind farm (B) Solar power project

(C) Observatory (D) None of the above 35. Port-Au-Prince is the capital of (A) Jamaica (B) Haiti (C) Venezuela (D) None of the above 36. World Consumer Rights Day is observed on (A) March 20 (B) March 15 (C) March 22 (D) March 23 37. The winner of Ranji Trophy this year is (A) Goa (B) Mumbai (C) Punjab (D) West Bengal 38. The winner (men s category) in Mumbai Marathon is (A) Siraj Gena (B) Denis Ndiso (C) Both (A) and (B) (D) None of the above 39. The runner up in Australian Open Tennis Championship for 2010 (women s singles) is (A) Serena Williams (B) Venus Williams (C) Justine Henin (D) None of the above 40. Which of the following won the National Volleyball Championship ? (A) Tamil Nadu (B) Punjab (C) Karnataka (D) Kerala Answers with Hints 1. (B) A Japanese delegation led by Japan s Internal Affairs and Communications Kazuhiro Hargguchi on January 6, 2010 met the Union Minister for New and Renewable Energy Farooq Abdullah and decided to jointly develop a solar city in India. 2. (C) 3. (B) 4. (A) India on January 11, 2010 successfully carried out two ballistic flight tests of Astra, Beyond Visual Range Air-to-Air Missile (BVRAAM) from the Integrated Test Range (ITR) at Balasore, Orissa. 5. (C) 6. (B) 7. (B) 8. (B) Malaysian Prime Minister Mohd. Najib bin Tun Abdul Razak was on a five day visit to India during January 2010. 9. (B) 10. (A) South Korean President Lee Myung-bak was the Chief Guest at the Republic Day in India this year. 11. (B) 12. (C) 13. (B) After prolonged a stalemate, the major political parties in Nepal on January 8, 2010 decided to form a high level mechanism a three member panel. The panel would focus on speeding up the peace process and writing the new Constitution of Nepal.