Indian Economy Quiz 2

The different instruments of quantitative credit control technique are Statutory Liquidity Ratio (SLR), Cash Reserve Ratio (CRR), the Bank Rate Policy, Selective Credit Control (SCC), Open Market Operations (OMOs), etc.

Mahatma Gandhi first featured on currency notes in 1969. Mahatma Gandhi series of ₹100 notes has a picture of Indian Himalayan mountain ranges on its reverse which is of ecological and environmental significance.

In economics, Gresham's law is a monetary principle stating that “bad money drives out good”. For example, if there are two forms of commodity money in circulation, which are accepted by law as having similar face value, the more valuable commodity will gradually disappear from circulation.

Companies issue stocks and bonds (securities) to the public to raise funds. A company decides to sell stock when it needs long-term access to capital.

A commercial bank is a financial institution that accepts deposits, offers checking and savings account services, and makes loans. A commercial bank can grant a loan only if it has the permission of Reserve Bank of India (RBI).

The basic approach was the development of high-yielding varieties of cereal grains, expansion of irrigation infrastructure, modernization of management techniques, distribution of hybridized seeds, synthetic fertilizers, and pesticides to farmers.

Personal disposable income is equal to personal income minus direct taxes. It is the amount of money that an individual or household has to spend or save after income taxes (direct taxes) have been deducted.

National Bank for Agriculture and Rural Development (NABARD) is an apex regulatory body for overall regulation of regional rural banks and apex cooperative banks in India.

Petrol and car are complementary goods as when the price of petrol rises, the demand for car falls. Hence, cross elasticity of demand between petrol and car is negative.

Export diversification refers to the move from “traditional” to “non-traditional” exports. Diversification helps countries to hedge against adverse terms of trade shocks by stabilizing export revenues.