Miscellaneous Questions and Answers

Answer: D

Correct answer: Aditya Puri

The RBI’s committee on Credit Information Reports was headed by Aditya Puri, then managing director of HDFC Bank. It examined how credit information is collected and reported, and how borrowers may see and correct their own records - which matters because an error in a credit report can deny someone a loan without their knowing why.

Answer: D

C.K. Nagaraja Rao was the first recipient.

The Moortidevi Award, instituted by the Bharatiya Jnanpith in 1983, honours literary work that reflects Indian philosophy and cultural values, in any of the recognised languages or in English.

Answer: D

Correct answer: sale of land.

National income counts current production. The sale of land merely transfers an existing asset from one owner to another and produces nothing, so it is excluded - though the estate agent’s commission, being a service rendered this year, is included. Sales, exports and salaries all represent current output or the income arising from it.

Answer: D

Correct answer: the International Monetary Fund.

Special Drawing Rights are the reserve asset created by the IMF in 1969 and allocated to member countries in proportion to their quotas. An SDR is not a currency but a claim on the freely usable currencies of members, and its value is set from a basket that now includes the dollar, euro, yuan, yen and pound.

Answer: B

Correct answer: 1894

Punjab National Bank was established in 1894 at Lahore, entirely with Indian capital and Indian management. It was a Swadeshi undertaking, and Lala Lajpat Rai opened its first account.

Answer: A

Correct answer: Frozen Fish

Frozen fish is the largest marine export from India by quantity, making up the biggest share of the tonnage shipped. (By value the leading item is frozen shrimp, which fetches a far higher price per tonne - a useful reminder that “largest export” depends on whether volume or value is meant.)

Answer: D

It is the State Bank of India.

SBI holds about a fifth of the country's deposits and advances, with over 22,000 branches. It descends from the Bank of Calcutta of 1806 through the Imperial Bank, nationalised in 1955.

Answer: C

Correct answer: ICICI Bank

ICICI Bank launched the Smart Star account, a savings account for children which allows a parent-supervised debit card and encourages the habit of saving. Banks pursue such accounts less for the balances than for the long relationship they begin.

Answer: B

Correct answer: the allocation of resources

Economic planning is the deliberate allocation of scarce resources between competing uses to achieve stated objectives over a period. Taxation, foreign capital and manpower policy are instruments that may serve a plan; the allocation itself is what planning means.

Answer: D

Correct answer: C. D. Deshmukh

Sir C. D. Deshmukh became the first Indian Governor of the Reserve Bank in 1943, after eight years of British governors. He later served as Finance Minister and represented India at Bretton Woods.