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. post offices

B. banks on behalf of RBI

C. treasury departments

D. RBI only

Answer: Option B

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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Practice More Economy Set 1 Questions

Question #1

The largest component of India's GDP in recent years is contributed by the:

A. services sector

B. agriculture sector

C. manufacturing sector

D. mining sector

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Correct Answer: Option A

Explanation:
The services sector is the largest contributor to India's GDP.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Consolidated Fund of India' is established under which article?

A. Article 263

B. Article 266

C. Article 312

D. Article 280

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Correct Answer: Option B

Explanation:
The Consolidated Fund of India is constituted under Article 266.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'liquidity trap' causes which policy to become ineffective?

A. exchange rate policy

B. expansionary monetary policy

C. trade policy

D. fiscal policy

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Correct Answer: Option B

Explanation:
In a liquidity trap, interest rates are near zero and monetary expansion does not lower rates further, making monetary policy ineffective.

This question belongs to: Economy GK Economy Set 1

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