The 'Immediate Payment Service' is an interbank electronic fund transfer service available: MCQ with Answer and Explanation

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The 'Immediate Payment Service' is an interbank electronic fund transfer service available:

A. only during banking hours

B. 24x7

C. only at branches

D. only on weekdays

Answer: Option B

Solution (By JKSSB Mock Tests)

IMPS is available 24x7 for instant interbank fund transfers.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Second Five Year Plan' period was:

A. 1951-1956

B. 1953-1958

C. 1956-1961

D. 1961-1966

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Correct Answer: Option C

Explanation:
The Second Five Year Plan covered 1956-1961.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of the future of work, 'Skill-Biased Technical Change' refers to:

A. Only the displacement of all labour

B. Technical change that is neutral across skill groups

C. Technical change that only benefits unskilled labour

D. Technological progress that raises the relative demand for skilled labour and contributes to wage inequality

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Correct Answer: Option D

Explanation:
Skill-biased technical change describes innovations that complement skilled workers more than unskilled workers, increasing the relative demand for and returns to skill and contributing to rising wage inequality.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Digital India' programme includes which of the following pillars?

A. Only defence

B. Digital infrastructure, governance and digital empowerment

C. Only agriculture

D. Only manufacturing

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Correct Answer: Option B

Explanation:
Digital India rests on digital infrastructure, digital governance and digital empowerment.

This question belongs to: Economy GK Economy Set 1

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