The 'Imperial Bank of India' was created in 1921 by merging three presidency banks: Bank of Bengal, Bank of Bombay and: MCQ with Answer and Explanation

The 'Imperial Bank of India' was created in 1921 by merging three presidency banks: Bank of Bengal, Bank of Bombay and:
A. Bank of Calcutta
B. Punjab National Bank
C. Allahabad Bank
D. Bank of Madras
Answer: Option D
Solution (By JKSSB Mock Tests)
The Imperial Bank of India was formed by merging Bank of Bengal, Bank of Bombay and Bank of Madras.

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Practice More Economy Set 1 Questions

Question #1
The concept of 'Deadweight Loss' arises due to:
A. Efficient resource allocation
B. Free trade
C. Perfect competition
D. Market distortions such as taxes, subsidies or monopolies

Correct Answer: Option D


Explanation:
Deadweight loss is the loss of economic efficiency that occurs when the equilibrium quantity is not achieved due to market imperfections or government interventions.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'Paris Agreement' aims to limit global temperature rise this century to well below:
A. 1°C
B. 2°C above pre-industrial levels
C. 4°C
D. 3°C

Correct Answer: Option B


Explanation:
The Paris Agreement aims to limit warming to well below 2°C, preferably 1.5°C.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'Norges Bank Investment Management' manages the sovereign wealth fund of:
A. China
B. Saudi Arabia
C. Norway
D. UAE

Correct Answer: Option C


Explanation:
Norges Bank Investment Management manages Norway's Government Pension Fund Global.

This question belongs to: Economy GK Economy Set 1