Economics (Part – XI) - Mock Test 365

Total Questions: 50

41. Fixed Foreign Exchange Rate can be changed by : [S.S.C. Online C.G.L. (T-I) 31.08.2016 (Shift-I)]

(a) RBI
(b) SEBI
(c) Ministry of Finance
(d) FIPB

Correct Answer: (a) RBI

Solution:A fixed exchange rate is a country's exchange rate regime under which the government or central bank ties the official exchange rate to another country's currency or the price of gold. The purpose of a fixed exchange rate system is to maintain a country's currency value within a very narrow band.

42. In which four cities of India Indian coins are minted? [S.S.C. Online C.P.O. S.I. 7.06.2016 (Shift-I)]

(a) Mumbai, Kolkata, Hyderabad, Noida
(b) Pune, Chennai, Hyderabad, Jabalpur
(c) Delhi, Kolkata, Secunderabad, Jabalpur
(d) Mumbai, Chennai, Hyderabad, Delhi

Correct Answer: (a) Mumbai, Kolkata, Hyderabad, Noida

Solution:Coins are minted at the four India Government Mints in Mumbai, Alipore (Kolkata), Saifabad (Hyderabad), Cherlapally (Hyderabad) and NOIDA (UP). The coins are issued for circulation only through the Reserve Bank in terms of the RBI Act.

43. In which of the following places has the Indian currency note printing press NOT been established as of January 2021? [S.S.C. JE Mechanical Exams 22.03.2021 (Shift-II)]

(a) Mysore
(b) Nasik
(c) Dewas
(d) Bhubaneshwar

Correct Answer: (d) Bhubaneshwar

Solution:The currency notes are printed at:

The Currency Note Press in Nashik (Maharashtra).
The Bank Note Press in Dewas (Madhya Pradesh).
The Bharatiya Reserve Bank Note Mudran (P) Ltd at Salboni (West Bengal) and Mysore (Karnataka).
The Watermark Paper Manufacturing Mill in Hoshangabad (produces papers for banknotes and non-judicial stamps).

44. 560. Which of the following banks prints the currency notes in India? [S.S.C. Online CHSL (T-I) 12.10.2020 (Shift-II)]

(a) NABARD
(b) ICICI Bank
(c) State Bank of India
(d) Reserve Bank of India

Correct Answer: (d) Reserve Bank of India

Solution:The Reserve Bank of India (RBI) prints and manages currency in India, whereas the Indian government regulates what denominations to circulate. The Indian government is solely responsible for minting coins. The RBI is permitted to print currency up to 10,000 rupee notes.

45. Which of the following organizations issues currency notes in India? [S.S.C. Online Constable GD 18.02.2019 (Shift-I)]

(a) RBI
(b) ICICI
(c) SBI
(d) PNB

Correct Answer: (a) RBI

46. Whose signature is on the one rupee note? [S.S.C. Online C.P.O.S.I. (T-I) 7.07.2017 (Shift-I)]

(a) Government of India
(b) Chief Justice of India
(c) Indian Finance Secretary
(d) Prime Minister of India

Correct Answer: (c) Indian Finance Secretary

Solution:One rupee note bears the signature of the Finance Secretary to the Government of India.

47. In India, by which one of the following institutions one rupee currency notes and coins are issued? [S.S.C. Online MTS (T-I) 06.07.2022 (Shift-I)]

(a) Imperial Bank of India
(b) Industrial Finance Corporation of India
(c) Finance Ministry
(d) Central Bank of India

Correct Answer: (c) Finance Ministry

Solution:In India, one rupee currency notes and coins are is-sued by the Ministry of Finance, Government of In-dia. The production of coins is carried out by the gov-ernment-owned mints, while the printing of currency notes is done by the currency printing presses of the Reserve Bank of India (RBI).

48. What fraction of a rupee is one anna, which was a part of the old currency system of India? [S.S.C. Online MTS (T-I) 16.08.2019 (Shift-II)]

(a) 1/16th of a rupee
(b) 1/20th of a rupee
(c) 1/10th of a rupee
(d) 1/6th of a rupee

Correct Answer: (a) 1/16th of a rupee

Solution:

In India's old currency system, 'one anana' was one 1/16th of a rupee. The term belonged to the Muslim monetary system. Anna is not been commonly used since India decimalized its currency in 1957.

49. How many languages are there on language panel of Indian currency note? [S.S.C. Online MTS (T-I) 8.08.2019 (Shift-I]

(a) 15
(b) 10
(c) 17
(d) 12

Correct Answer: (a) 15

Solution:The language panel on Indian rupee banknotes displays the denomination of the note in 15 of the 22 official languages of India. They are from top to bottom Assamese, Bengali, Gujarati, Kannada, Kashmiri, Konkani, Malayalam, Marathi, Nepali, Oriya, Punjabi, Sanskrit, Tamil, Telugu, Urdu.

50. Who among the following is the only Prime Minister whose signature can be seen on Indian currency? [S.S.C. Online C.P.O. S.I. 7.06.2016 (Shift-I)]

(a) Lal Bahadur Shastri
(b) VP Singh
(c) Gulzarilal Nanda
(d) Manmohan Singh

Correct Answer: (d) Manmohan Singh

Solution:Former Prime Minister Manmohan Singh is one such prime minister whose signature can be seen on the Indian currency. Manmohan Singh was the Governor of the Reserve Bank of India from September 1982 to January 1985.

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Economics (Part – XI)