Indian Economy and Finance Mock Test

Five Rural Regional Banks (RRBs) were set up on 2 October 1975 on the recommendations of the Narsimha Committee on Rural Credit. The purpose was to include rural areas into the economic mainstream since around 70% of the Indian population was rural.

Per capita income (PCI) is a measure of the amount of money earned per person in a nation or geographic region. It is calculated by dividing the national income by its total population.

The main advantage of devaluation is to make the exports of a country or currency area more competitive, as they become cheaper to purchase as a result. This can increase external demand and improvement in the balance of payment.

In the post-independence period, economic reforms were first introduced in India under P.V. Narasimha Rao Government in 1991.

A depository is an organization where the securities of an investor are held in electronic form.

The duration of Fourth Five-year plan was from 1969 to 1974, under the leadership of Indira Gandhi. There were two main objectives of this plan i.e. growth with stability and progressive achievement of self-reliance.

Overdraft is a financial instrument in which the money can be withdrawn from the current or savings account, even if the account balance goes below zero.

It is called Operations Research (OR). OR is an analytical method of problem-solving and decision-making that is useful in the management of organizations.

Population growth rate is affected by birth rates, death rates, immigration, and emigration. A high growth rate of population is characterised by high birth and low death rates.

National Income Estimates in India are prepared by National Statistical Office (NSO). NSO came into existence on 23rd May 2019 by a merger of NSSO (National Sample Survey Office) and CSO (Central Statistics Office). It is the statistics wing of the Ministry of Statistics and Program Implementation.