The 'first bank in India' was: MCQ with Answer and Explanation

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The 'first bank in India' was:

A. Bank of Hindustan

B. Punjab National Bank

C. Bank of Calcutta

D. State Bank of India

Answer: Option A

Solution (By JKSSB Mock Tests)

The Bank of Hindustan, established in 1770, is considered the first bank in India.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Administrative Tribunals' are established under which article?

A. Article 329

B. Article 324

C. Article 338

D. Article 323A

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Correct Answer: Option D

Explanation:
Administrative Tribunals are established under Article 323A.

This question belongs to: Economy GK Economy Set 1

Question #2

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Balance of Trade refers to the difference between:

A. foreign exchange reserves and gold

B. exports and imports of goods only

C. exports and imports of goods and services

D. capital inflows and outflows

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Correct Answer: Option B

Explanation:
Balance of Trade is the difference between a country's exports and imports of goods only.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'International Finance Corporation' mainly provides:

A. military assistance

B. short-term balance of payments support

C. loans and investments in the private sector of developing countries

D. grants to governments

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Correct Answer: Option C

Explanation:
IFC supports private sector investment in developing countries.

This question belongs to: Economy GK Economy Set 1

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