The 'currency chests' in India are operated by: MCQ with Answer and Explanation

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The 'currency chests' in India are operated by:

A. treasury departments

B. RBI only

C. banks on behalf of RBI

D. post offices

Answer: Option C

Solution (By JKSSB Mock Tests)

Currency chests are operated by selected banks on behalf of the RBI for currency storage and distribution.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'General Budget' in India was separated from the Railway Budget in which year?

A. 1921

B. 1947

C. 1950

D. 1924

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Correct Answer: Option D

Explanation:
Railway Budget was separated from the General Budget in 1924 on the Acworth Committee recommendation.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on long-term lease of industrial plots is:

A. 0%

B. 18%

C. 5%

D. 12%

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Correct Answer: Option B

Explanation:
Long-term lease of industrial plots attracts 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on imports is:

A. not levied

B. only 12%

C. levied along with customs duty

D. only 5%

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Correct Answer: Option C

Explanation:
Imports are subject to IGST along with basic customs duty.

This question belongs to: Economy GK Economy Set 1

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