The 'Banking Ombudsman' scheme was introduced in India in which year? MCQ with Answer and Explanation

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The 'Banking Ombudsman' scheme was introduced in India in which year?

A. 1990

B. 2000

C. 2005

D. 1995

Answer: Option D

Solution (By JKSSB Mock Tests)

The Banking Ombudsman scheme was introduced in 1995.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'International Monetary Fund' was established in 1944 but began operations in which year?

A. 1945

B. 1952

C. 1950

D. 1947

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Correct Answer: Option D

Explanation:
The IMF began operations in 1947.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' on petroleum and natural gas is:

A. 0%

B. not under GST

C. 18%

D. 5%

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Correct Answer: Option B

Explanation:
Petroleum products and natural gas are outside GST.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'standing deposit facility' was introduced by RBI as a tool for:

A. long-term investment

B. absorbing liquidity without collateral

C. export finance

D. lending to banks

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Correct Answer: Option B

Explanation:
Standing Deposit Facility allows RBI to absorb liquidity from banks without providing collateral.

This question belongs to: Economy GK Economy Set 1

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