National Electronic Funds Transfer is used mainly for: MCQ with Answer and Explanation

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National Electronic Funds Transfer is used mainly for:

A. international remittances

B. batch-wise electronic transfer of retail funds

C. stock market trading

D. high-value real-time transfers only

Answer: Option B

Solution (By JKSSB Mock Tests)

NEFT settles retail fund transfers in batches, unlike RTGS.

This question belongs to: Economy GK Economy Set 1

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Question #1

Human capital refers to:

A. physical machinery used in production

B. financial assets of a country

C. natural resources

D. the stock of skills, education and health embodied in workers

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Correct Answer: Option D

Explanation:
Human capital is the stock of skills, education and health embodied in workers that enhances productivity.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'International Bank for Reconstruction and Development' is a part of:

A. WTO

B. World Bank Group

C. IMF

D. UNCTAD

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Correct Answer: Option B

Explanation:
IBRD is part of the World Bank Group.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Special Drawing Right' value is calculated based on a basket of currencies that includes which five currencies?

A. US dollar, euro, yen, pound, yuan

B. US dollar, euro, franc, pound, yuan

C. US dollar, euro, rupee, pound, yen

D. US dollar, euro, yen, pound, rupee

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Correct Answer: Option A

Explanation:
The SDR basket comprises US dollar, euro, Chinese yuan, Japanese yen and British pound.

This question belongs to: Economy GK Economy Set 1

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