In 1969, the Government of India nationalized how many major commercial banks? MCQ with Answer and Explanation

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In 1969, the Government of India nationalized how many major commercial banks?

A. 14

B. 10

C. 20

D. 6

Answer: Option A

Solution (By JKSSB Mock Tests)

In 1969, 14 major commercial banks were nationalized.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'MSME Development Act' was enacted in which year?

A. 2006

B. 2015

C. 2000

D. 2010

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Correct Answer: Option A

Explanation:
The MSME Development Act was enacted in 2006.

This question belongs to: Economy GK Economy Set 1

Question #2

National Electronic Funds Transfer is used mainly for:

A. stock market trading

B. international remittances

C. high-value real-time transfers only

D. batch-wise electronic transfer of retail funds

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Correct Answer: Option D

Explanation:
NEFT settles retail fund transfers in batches, unlike RTGS.

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'Balance of Trade' refers to:

A. Capital account balance

B. Overall surplus or deficit in balance of payments

C. Difference between exports and imports of goods and services

D. Difference between exports and imports of goods only

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Correct Answer: Option D

Explanation:
Balance of Trade is the difference between the value of exports and imports of merchandise (goods) only. Balance of payments is a broader concept including services and capital flows.

This question belongs to: Economy GK Economy Set 1

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