The 'Aadhaar Payment Bridge System' enables: MCQ with Answer and Explanation

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The 'Aadhaar Payment Bridge System' enables:

A. stock trading

B. foreign exchange trading

C. insurance claims

D. direct benefit transfers using Aadhaar number

Answer: Option D

Solution (By JKSSB Mock Tests)

APBS enables direct benefit transfers using Aadhaar number.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Goods and Services Tax' on services provided by IRDAI is:

A. 5%

B. 18%

C. exempt

D. 0%

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Correct Answer: Option C

Explanation:
IRDAI services are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The term 'Green Revolution' in India is associated with:

A. Increase in agricultural production

B. Increase in service sector growth

C. Increase in industrial production

D. Increase in foreign investment

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Correct Answer: Option A

Explanation:
The Green Revolution refers to the significant increase in agricultural production in India, particularly of wheat and rice, through high-yielding varieties, fertilizers and irrigation, starting in the mid-1960s.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' refund for exporters is available through:

A. income tax return

B. SEBI

C. GST refund mechanism

D. customs only

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Correct Answer: Option C

Explanation:
Exporters can claim refunds of accumulated input tax credit under GST.

This question belongs to: Economy GK Economy Set 1

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