The 'Bank of Calcutta' was established in which year? MCQ with Answer and Explanation

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The 'Bank of Calcutta' was established in which year?

A. 1806

B. 1770

C. 1840

D. 1865

Answer: Option A

Solution (By JKSSB Mock Tests)

The Bank of Calcutta, later Bank of Bengal, was established in 1806.

This question belongs to: Economy GK Economy Set 1

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Question #1

The Human Development Index is published by:

A. UNDP

B. IMF

C. World Bank

D. WTO

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Correct Answer: Option A

Explanation:
The Human Development Index is published by the United Nations Development Programme.

This question belongs to: Economy GK Economy Set 1

Question #2

The concept of 'Seigniorage' is most closely related to:

A. Tax revenue from income tax

B. Interest payments on public debt

C. Revenue from disinvestment

D. The real resources obtained by the government through the issue of base money

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Correct Answer: Option D

Explanation:
Seigniorage is the purchasing power that the government obtains by issuing base money; it equals the real value of the increase in base money.

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'Base Money' or 'Reserve Money' consists of:

A. Only time deposits of banks

B. Currency in circulation plus bankers' deposits with RBI and other deposits

C. Only currency with the public

D. Only demand deposits

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Correct Answer: Option B

Explanation:
Reserve money (monetary base) includes currency in circulation, bankers' deposits with the RBI and other deposits with the RBI.

This question belongs to: Economy GK Economy Set 1

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