Real Time Gross Settlement is a payment system that: MCQ with Answer and Explanation

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Real Time Gross Settlement is a payment system that:

A. settles transactions in batches

B. does not require a bank account

C. settles high-value transactions individually in real time

D. settles only retail transactions

Answer: Option C

Solution (By JKSSB Mock Tests)

RTGS settles high-value transactions individually and in real time.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Contingency Fund of India' is established under which article?

A. Article 280

B. Article 312

C. Article 267

D. Article 263

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Correct Answer: Option C

Explanation:
The Contingency Fund of India is established under Article 267.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'ZED certification' for MSMEs relates to:

A. zero energy devices

B. zero defect and zero effect manufacturing

C. zero interest loans

D. zero export duty

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Correct Answer: Option B

Explanation:
ZED certification relates to Zero Defect Zero Effect manufacturing in MSMEs.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' compensation cess is collected by:

A. GST council

B. local bodies

C. central government

D. state governments

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Correct Answer: Option C

Explanation:
Compensation cess is collected by the central government.

This question belongs to: Economy GK Economy Set 1

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