Banking regulation act was passed in ?
Answer: C
The Banking Regulation Act was passed in 1949.
It gave the Reserve Bank comprehensive powers over banking companies - licensing, branch expansion, management, reserves, inspection and moratorium. It was originally the Banking Companies Act and was renamed in 1966.
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The exports of India
Answer: D
India's exports are spread over several commodity groups.
At independence they were a handful of primary products - jute, tea, cotton. They now range across petroleum products, gems and jewellery, engineering goods, pharmaceuticals, textiles, chemicals and software services, with no single group dominant.
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The committee on the Financial System to trace the ills of public sector banks was headed by
Answer: C
It was headed by M. Narasimham.
The Committee on the Financial System reported in 1991 and recommended lower statutory pre-emptions, prudential norms for income recognition and provisioning, and entry for new private banks. Its second report of 1998 dealt with capital adequacy and consolidation.
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The 'year of Great Divide' refers to
Answer: B
It refers to the rapid growth of population after 1921.
Before 1921 population rose and fell with famine and epidemic; 1911-21 was the only decade of the century to show a fall, because of the influenza pandemic. After 1921 the death rate declined steadily while the birth rate did not, so growth became continuous.
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National Agricultural Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year
Answer: C
It was introduced in 1999.
The National Agricultural Insurance Scheme replaced the Comprehensive Crop Insurance Scheme from the rabi season of 1999-2000, extending cover to all farmers and all crops. It was itself replaced by the Pradhan Mantri Fasal Bima Yojana in 2016.
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Deficit financing implies
Answer: C
Deficit financing means public expenditure in excess of public revenue.
In Indian usage it means meeting that gap by borrowing from the Reserve Bank, which in effect creates new money. It can finance development when there is idle capacity, but beyond that it raises money incomes without raising output and so causes inflation.
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The second nationalization of banks took place in India in the year
Answer: D
The second nationalisation took place in 1980.
Six banks with deposits above Rs 200 crore were taken over on 15 April 1980, bringing the total of nationalised banks to twenty. The first round, of fourteen banks, was in 1969.
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Dalal street is situated at
Answer: B
Dalal Street is in Mumbai.
It runs beside the Bombay Stock Exchange in the Fort area, and the name is used for the Indian equity market as Wall Street is for the American. Dalal means broker in Marathi.
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SAARC University will have its head office in
Answer: B
The head office is in New Delhi.
South Asian University was agreed at the SAARC summit at Dhaka in 2005, and opened in Delhi in 2010. Students from all eight member countries study there, and their degrees are recognised across the region.
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A special economic zone is set up at
Answer: C
A special economic zone was set up at Positra.
The site is in Jamnagar district on the Gujarat coast. SEZs are enclaves treated as foreign territory for trade and duty purposes, with their own fiscal regime, and India's policy of 2000 followed the Chinese model.
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