DICGC provides deposit insurance up to which maximum amount per depositor per bank? MCQ with Answer and Explanation

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DICGC provides deposit insurance up to which maximum amount per depositor per bank?

A. Rs 2 lakh

B. Rs 1 lakh

C. Rs 10 lakh

D. Rs 5 lakh

Answer: Option D

Solution (By JKSSB Mock Tests)

DICGC insures deposits up to Rs 5 lakh per depositor per bank.

This question belongs to: Economy GK Economy Set 1

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The term 'High-Powered Money' is also known as:

A. Time deposits

B. Narrow money only

C. Broad money

D. Reserve money or monetary base

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Correct Answer: Option D

Explanation:
High-powered money (reserve money or monetary base) consists of currency in circulation and the reserves of the banking system with the central bank.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following taxes has NOT been subsumed under GST?

A. State VAT

B. Basic Customs Duty

C. Central Excise Duty

D. Service Tax

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Correct Answer: Option B

Explanation:
Basic Customs Duty has not been subsumed under GST.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is NOT a objective of economic planning in India?

A. Modernisation

B. Self-reliance

C. Economic growth

D. Maximisation of inequality

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Correct Answer: Option D

Explanation:
Economic planning in India aimed at growth, modernisation, self-reliance and social justice (reduction of inequality), not maximisation of inequality.

This question belongs to: Economy GK Economy Set 1

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