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

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The Banking Ombudsman is appointed by:

A. Indian Banks' Association

B. Finance Minister

C. Reserve Bank of India

D. President

Answer: Option C

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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Practice More Economy Set 1 Questions

Question #1

The 'Brown Revolution' is associated with:

A. fertilizer production

B. food processing

C. coffee and cocoa production

D. leather and cocoa

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Correct Answer: Option C

Explanation:
Brown Revolution is associated with coffee and cocoa production.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on call centre services is:

A. 18%

B. 12%

C. 28%

D. 5%

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Correct Answer: Option A

Explanation:
Call centre services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Time Preference' is related to the theory of:

A. Profit

B. Wages

C. Rent

D. Interest

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Correct Answer: Option D

Explanation:
The time preference theory of interest (associated with Böhm-Bawerk and others) explains interest as arising from the preference for present goods over future goods.

This question belongs to: Economy GK Economy Set 1

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