Economics (Part-III) (Railway)

Total Questions: 50

1. Which of the following does NOT support rural development? [RRB NTPC CBT-1 Exam, 25.01.2021 (Shift-I)]

(1) Urban credit
(2) Development of marketing
(3) Development of human resources
(4) Promotion of organic farming

Correct Answer: (1) Urban credit

Solution:Urban Credit does not support rural development.

• Rural Development is the process of improving the quality of life and economic well-being of people living in rural areas, often relatively isolated and sparsely populated areas.

2. Where is the headquarters of the Reserve Bank of India located? [RRB NTPC CBT-1 Exam, 27.01.2021 (Shift-II)]

(1) Chennai
(2) Mumbai
(3) Kolkata
(4) New Delhi

Correct Answer: (2) Mumbai

Solution:The Reserve Bank of India was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934.

• At a time of establishment headquarters of RBI were in Kolkata, but in 1937, it was shifted to Mumbai.

3. In which year was the Export Import (EXIM) Bank of India established? [RRB NTPC CBT-1 Exam, 27.01.2021 (Shift-II)]

(1) 1998
(2) 1982
(3) 2004
(4) 1984

Correct Answer: (2) 1982

Solution:Export-Import Bank of India (EXIM Bank)was established in 1982 by the Government of India, under the Export-Import Bank of India Act, 1981 as a purveyor of export credit.

• It serves as a growth engine for industries and SMEs through a wide range of products and services.

4. As of October 2020, who was the Chairman of the Securities and Exchange Board of India (SEBI)? [RRB NTPC CBT-1 Exam, 27.01.2021 (Shift-II)]

(1) M Damodaran
(2) UK Sinha
(3) Ajay Tyagi
(4) DR Mehta

Correct Answer: (3) Ajay Tyagi

Solution:Ajay Tyagi is the Chairman of the Securities and Exchange Board of India (SEBI) since 1 March 2017.

• In February 2020, his term was extended by another 18 months till Feb 2022.

5. The World Bank has tied up with which bank to enable secondary bond trading recorded on Blockchain? [RRB NTPC CBT-1 Exam, 03.02.2021 (Shift-I)]

(1) Royal Bank of Canada
(2) CIM Bank
(3) Bank of Melbourne
(4) Commonwealth Bank of Australia

Correct Answer: (4) Commonwealth Bank of Australia

Solution:The World Bank and Commonwealth Bank (CBA) have enabled secondary market trading recorded on blockchain.

• The World Bank launched world's first public blockchain bond named bond-i created, allocated, transferred and managed by using blockchain technology.

• Bond-i is an acronym standing for Blockchain Offered New Debt Instrument and also refers to tourist famous Bondi Beach in Sydney, Australia.

6. Who among the following was the first Indian Governor of the Reserve Bank of India? [RRB NTPC CBT-1 Exam, 03.02.2021 (Shift-I)]

(1) Raghuram Rajan
(2) CD Deshmukh
(3) Manmohan Singh
(4) IG Patel

Correct Answer: (2) CD Deshmukh

Solution:The first Governor of the Reserve Bank of India was Sir Osborn Smith, while C.D. Deshmukh was the first Indian Governor of the Reserve Bank of India.

• Shaktikanta Das is the current and 25th Governor of RBI.

7. What was the main focus of the first Five Year Plan of India? [RRB NTPC CBT-1 Exam, 04.02.2021 (Shift-I)]

(1) Development of research and development related to space
(2) Development of primary sector with focus on agriculture
(3) Growth of information technology
(4) Rapid development of heavy Industries

Correct Answer: (2) Development of primary sector with focus on agriculture

Solution:The first five-year plan in India was launched in 1951 and terminate 1956.

• It is based on Harrod-Domar model.

• It focused primarily on the development of the primary sector, specifically agriculture and Irrigation.

8. How does most of India's foreign trade take place? [RRB NTPC CBT-1 Exam, 04.02.2021 (Shift-I)]

(1) Through land and sea routes
(2) Through sea and air routes
(3) Through land and air routes
(4) Equally through land, air and sea routes each

Correct Answer: (2) Through sea and air routes

Solution:Most of India's foreign trade is carried through sea and air routes.

• However, a small portion is also carried through land route to neighbouring countries like Nepal, Bhutan, Bangladesh and Pakistan.

9. Origin of State Bank of India (SBI) goes back to the year: [RRB NTPC CBT-1 Exam, 04.02.2021 (Shift-I)]

(1) 1806
(2) 1951
(3) 1948
(4) 1851

Correct Answer: (1) 1806

Solution:The origin of the State Bank of India goes back to the first decade of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta on 2 June 1806.

• Three years later the bank received its charter and was redesigned as the Bank of Bengal on 2nd January 1809.

10. ________is a location-based F2S (Farm to Shop) trading platform that helps Indian farmers sell their produce directly to the consumer, thus eliminating the middleman. [RRB NTPC CBT-1 Exam, 04.02.2021 (Shift-II)]

(1) Kiran
(2) Mandi Trades
(3) Safal
(4) Fasal

Correct Answer: (2) Mandi Trades

Solution:The Mandi Trades portal and app help out Indian farmers to sell their produce directly to customers, cutting the middlemen out.

• Mandi Trades also helps farmers plan better by providing data such as current commodity prices and demand.

• It was launched by Farmmobi Technologies in 2013.

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