The Banking Ombudsman is appointed by: MCQ with Answer and Explanation

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The Banking Ombudsman is appointed by:

A. Finance Minister

B. President

C. Indian Banks' Association

D. Reserve Bank of India

Answer: Option D

Solution (By JKSSB Mock Tests)

The RBI appoints Banking Ombudsmen to resolve customer complaints against banks.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Regional Comprehensive Economic Partnership' is a free trade agreement involving countries of:

A. South America

B. Asia-Pacific, including ASEAN and major partners

C. European Union

D. Africa only

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Correct Answer: Option B

Explanation:
RCEP is a free trade agreement among Asia-Pacific countries including ASEAN, China, Japan, South Korea, Australia and New Zealand.

This question belongs to: Economy GK Economy Set 1

Question #2

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Microfinance institutions primarily provide:

A. large corporate loans

B. infrastructure finance

C. small collateral-free loans to low-income households

D. export finance

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Correct Answer: Option C

Explanation:
Microfinance institutions provide small collateral-free loans to low-income clients.

This question belongs to: Economy GK Economy Set 1

Question #3

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In the context of economic reforms, 'Disinvestment' involves:

A. Nationalisation of private firms

B. Complete closure of all public enterprises

C. Increasing government stake in public sector enterprises

D. Sale of government equity in public sector enterprises

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Correct Answer: Option D

Explanation:
Disinvestment refers to the sale of government-held shares in public sector enterprises to private investors or the public, thereby reducing the government's ownership stake.

This question belongs to: Economy GK Economy Set 1

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