Indian Economy MCQ for Bank PO free Online Test 2025

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Indian Economy MCQ for Bank PO free Online Test

Quick Quiz

The largest public sector commercial bank of India is –

(a) Bank of India

(b) Union Bank of India

(d) Reserve Bank of India

Option c – State Bank of India

Which one of the following rates is not determined by the Reserve Bank of India?

(a) SLR

(b) CRR

(d) Prime Lending Rate

Option d – Prime Lending Rate

Which of the following committees has given its recommendations on ‘Financial Inclusion’?

(a) Kelkar Committee

(b) Sinha Committee

(d) Rakesh Mohan Committee

Option c – Rangarajan Committee

Which of the following is NOT a term used in the field of Banking and Finance?

(a) GBC

(b) RTGS

(d) Base Line

Option a – GBC

Reserve Bank of India was nationalized in –

(a) 1947

(b) 1948

(d) 1951

Option c – 1949

Bad loans in banking terminology are generally known as –

(a) NPAs

(b) BPOs

(d) Prime Loans

Option a – NPAs

Which of the following is not correctly matched?

(a) SEBI – Security Market Regulatory Body

(b) RBI – Banking Regulatory Authority

(d) IDBI – World Bank

Option d – IDBI – World Bank

Which of the following payment instruments introduced by banks is known as plastic money?

(a) Gift Cheques

(b) Credit Cards

(d) Bearer Cheques

Option b – Credit Cards

Which of the following is a project to develop watersheds in India?

(a) CARE

(b) AVARD

(d) DRDO

Option c – NWDPRA

Which of the following schemes launched by the Government of India provides a guaranteed 100 days of employment to rural employment-seekers in India?

(a) National Rural Employment Guarantee Act

(b) Swarnajayanti Grameen Rojgar Yojana

(d) National Food for Work Programme

Option a – National Rural Employment Guarantee Act

The Government of India nationalized 14 large commercial banks for the first time in the year –

(a) 1956

(b) 1959

(d) 1971

Option c – 1969

Banks are required to maintain a certain ratio between their cash in hand and total assets. This is called –

(a) SLR

(b) CRR

(d) SBR

Option b – CRR

The National Housing Bank (NHB) was set up as a wholly-owned subsidiary of which one of the following?

(a) Reserve Bank of India

(b) ICICI Bank

(d) Life Insurance Corporation of India

Option a – Reserve Bank of India

Which of the following is not an apex institution?

(a) State Bank of India

(b) SIDBI

(d) State Co-operative Bank

Option d – State Co-operative Bank

The EXIM Bank of India was established in –

(a) 1964

(b) 1976

(d) 1982

Option d – 1982

Fiscal policy of India is formulated by –

(a) The Reserve Bank of India

(b) The Finance Ministry

(d) The Securities and Exchange Board of India

Option b – The Finance Ministry

Rise in the price of a commodity means –

(a) Rise in the value of currency only

(b) Rise in the value of the commodity only

(d) Fall in the value of currency and rise in the value of the commodity

Option a – Rise in the value of currency only

Rangachari Committee is associated with which one of the following?

(a) Estimation of national income

(b) Tax structure

(d) Pricing and taxation of petroleum products

Option d – Pricing and taxation of petroleum products

A community’s stock of wealth is accounted for by –

(a) Net increase in invisible and intangible goods

(b) Standard of living of people

(d) Gross investment minus depreciation

Option c – Aggregate of capital and consumer goods

In India, the concept of ‘minimum needs’ and ‘directed anti-poverty programmes’ were the innovation of –

(a) Fourth Five-Year Plan

(b) Fifth Five-Year Plan

(d) Seventh Five-Year Plan

Option b – Fifth Five-Year Plan

Which of the following deficits contributes the most to the total deficit of the Government of India?

(a) Fiscal Deficit

(b) Primary Deficit

(d) Budgetary Deficit

Option a – Fiscal Deficit

The latest committee to submit its report on tax reforms is known as –

(a) Chelliah Committee

(b) Vaghul Committee

(d) Narasimhan Committee

Option c – Kelkar Committee

VAT is imposed –

(a) Directly on the consumer

(b) On the first stage of production

(d) On all stages between production and final sale

Option d – On all stages between production and final sale

‘Beti Bachao, Beti Padhao’ scheme was launched in India in –

(a) February 2015

(b) January 2015

(d) April 2015

Option b – January 2015

The Mid-Day Meal scheme was started in the year –

(a) 1995

(b) 1996

(d) 1998

Option a – 1995

Who among the following developed the concept of the Human Development Index?

(a) Alva Myrdal

(b) A.S. Kadir

(d) Mehboob Ul Haq

Option d – Mehboob Ul Haq

When was the decimal coinage system introduced in India?

(a) 1950

(b) 1957

(d) 1947

Option b – 1957

In India, NABARD does not provide refinance to –

(a) Export-Import Bank

(b) Regional Rural Banks

(d) State Land Development Banks

Option a – Export-Import Bank

Bolivar is the monetary unit of –

(a) Brazil

(b) Bolivia

(d) Venezuela

Option d – Venezuela

In which year was the Food Corporation of India (FCI) set up?

(a) 1955

(b) 1960

(d) 1970

Option c – 1965

Which of the following is the chief characteristic of mixed farming?

(a) Cultivation of two or more crops in the same field

(b) Cultivation of both food and cash crops

(d) None of these

Option c – Rearing of animals together with the cultivation of crops

Which state had the lowest literacy rate according to the 2001 Census report?

(a) Bihar

(b) Haryana

(d) Arunachal Pradesh

Option a – Bihar

What is the rank of Bihar in terms of population in India?

(a) 3rd

(b) 4th

(d) 6th

Option a – 3rd

Which state has the lowest female-to-male ratio among the states?

(a) Manipur

(b) Tripura

(d) Arunachal Pradesh

Option c – Sikkim

Which of the following is not considered economic infrastructure?

(a) Roads

(b) Railways

(d) Education and Health

Option d – Education and Health

Which is the highest bank in the banking structure of India?

(a) State Bank of India

(b) Central Bank of India

(d) Industrial Development Bank of India

Option c – Reserve Bank of India

Which of the following is known as the “third pillar” in international economic relations?

(a) IMF

(b) World Bank

(d) GATT

Option c – WTO

When economic development takes place, the share of the tertiary sector in national income –

(a) First falls and then rises

(b) First rises and then falls

(d) Remains constant

Option c – Keeps on increasing

Which is the most industrially advanced state in India?

(a) Gujarat

(b) Punjab

(d) Tamil Nadu

Option c – Maharashtra

The Green Revolution in India started from –

(a) Delhi

(b) Kanpur

(d) Bengaluru

Option c – Pant Nagar

Under which Five-Year Plan did agriculture register a negative growth?

(a) Third

(b) Fifth

(d) Seventh

Option a – Third

Where is the Indian Pulse Research Institute located?

(a) Kanpur

(b) Lucknow

(d) Allahabad

Option a – Kanpur

Where is the Indian Sugarcane Research Institute situated?

(a) Varanasi

(b) Lucknow

(d) New Delhi

Option b – Lucknow

NABARD was established during the –

(a) Fourth Five-Year Plan

(b) Fifth Five-Year Plan

(d) Eighth Five-Year Plan

Option c – Sixth Five-Year Plan

In India, which of the following has the highest share in the disbursement of credit to agriculture and allied activities?

(a) Co-operative Banks

(b) Regional Rural Banks

(d) Microfinance Institutions

Option c – Commercial Banks

When did India’s population touch the 100 crore mark?

(a) May 2000

(b) May 2001

(d) May 2003

Option a – May 2000

Which one of the following states of India has the highest literacy rate?

(a) Punjab

(b) Mizoram

(d) Andhra Pradesh

Option b – Mizoram

The state with the second-largest population in India is –

(a) Maharashtra

(b) West Bengal

(d) Madhya Pradesh

Option a – Maharashtra

Which of the following states in India is the smallest in terms of population?

(a) Odisha

(b) Madhya Pradesh

(d) Karnataka

Option a – Odisha

The minimum forest cover required to maintain ecological balance in the plains is –

(a) 25%

(b) 33%

(d) 50%

Option b – 33%

Major coalfields of India are located in the river valley of –

(a) Damodar

(b) Godavari

(d) Wardha

Option a – Damodar

The Korba coalfield is located in –

(a) Assam

(b) Odisha

(d) Chhattisgarh

Option d – Chhattisgarh

Which of the following is not a nuclear power centre?

(a) Kota

(b) Kakrapara

(d) Narora

Option c – Chamera

Which one among the following countries has the lowest GDP per capita?

(a) China

(b) Sri Lanka

(d) Indonesia

Option c – India

As the economy develops, the share of the tertiary sector in GDP –

(a) Increases

(b) Decreases

(d) Decreases, then increases

Option a – Increases

When was the concept of the Human Development Index (HDI) introduced by the United Nations Development Programme?

(a) 1990

(b) 1991

(d) 1995

Option a – 1990

In terms of the Human Development Index, India falls under which category?

(a) Low

(b) Medium

(d) Very low

Option a – Low

What is the name of the scheme that provides training and skills to women in traditional and non-traditional trades?

(a) Swawlamban

(b) Swayamsiddha

(d) Rashtriya Mahila Kosh

Option a – Swawlamban

The Bonded Labour System (Abolition) Act was legislated in –

(a) 1974

(b) 1976

(d) 1978

Option b – 1976

The Planning Commission was abolished by which Prime Minister?

(a) I. K. Gujral

(b) Morarji Desai

(d) Atal Bihari Vajpayee

Option c – Narendra Modi

Which one of the following Union Territories of India has more females than males?

(a) Delhi

(b) Puducherry

(d) Lakshadweep

Option b – Puducherry

Which of the following is not a measure undertaken by the government?

(a) Increase in consumption

(b) Increase in production

(d) Reduction in deficit financing

Option a – Increase in consumption

The Industrial Development Bank of India was set up in –

(a) July 1962

(b) July 1964

(d) July 1968

Option b – July 1964

The Minimum Support Price for food grains was introduced in the year –

(a) 1944

(b) 1954

(d) 1974

Option d – 1974

Open market operations of RBI refer to the buying and selling of –

(a) Gold

(b) Commercial bills

(d) Government bonds

Option d – Government bonds

The bank cheques are processed using –

(a) MICR

(b) OCR

(d) PMR

Option a – MICR

The food stocks that are built up during years of bumper harvest are called –

(a) Grain stock

(b) Buffer stock

(d) Production stock

Option b – Buffer stock

Of the following land uses, which is restricted to Special Economic Zones?

(a) Marketing centres

(b) Free Trade Centres

(d) Information Technology companies

Option b – Free Trade Centres

Which of the following is a part of the tertiary sector?

(a) Cultivation of crops

(b) Animal Husbandry

(d) Cotton manufacturing

Option c – Power and Transportation

Which of the following items is a major item of Indian export?

(a) Potato chips

(b) Car engines

(d) Textile garments

Option b – Car engines

Which one of the following taxes is collected and utilized by the State Governments?

(a) Land revenue

(b) Custom duties

(d) Personal Income tax

Option a – Land revenue

The Imperial Bank of India, after its nationalization, came to be known as –

(a) State Bank of India

(b) United Bank of India

(d) Reserve Bank of India

Option a – State Bank of India

Which of the following organizations is known as the Market Regulator in India?

(a) IBA

(b) SEBI

(d) NSDL

Option b – SEBI

The headquarters of the Reserve Bank of India (RBI) is situated in –

(a) Delhi

(b) Kolkata

(d) Chennai

Option c – Mumbai

Devaluation of the rupee in India was first introduced in the year –

(a) 1949

(b) 1966

(d) 1990

Option a – 1949

Who formulates the monetary policy in India?

(a) SEBI

(b) RBI

(d) Finance Ministry

Option b – RBI

In which year was the Indian rupee devalued two times within a month?

(a) 1990

(b) 1991

(d) 1999

Option b – 1991

Dr. P. Rama Rao committee is related to which of the following?

(a) Taxes

(b) Defence

(d) Industry

Option b – Defence

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