The Insolvency and Bankruptcy Code was enacted in which year? MCQ with Answer and Explanation

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The Insolvency and Bankruptcy Code was enacted in which year?

A. 2016

B. 2019

C. 2015

D. 2013

Answer: Option A

Solution (By JKSSB Mock Tests)

The Insolvency and Bankruptcy Code was enacted in 2016.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Patent' in India is granted by which office?

A. Ministry of Finance

B. SEBI

C. RBI

D. Controller General of Patents, Designs and Trade Marks

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Correct Answer: Option D

Explanation:
Patents are granted by the Office of Controller General of Patents, Designs and Trade Marks.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of money supply, M3 is also known as:

A. Broad money

B. Narrow money

C. High-powered money

D. Reserve money

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Correct Answer: Option A

Explanation:
M3 is referred to as broad money and includes M1 plus time deposits with banks. Reserve money or high-powered money is the monetary base.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Forward Markets Commission' was merged with which organization in 2015?

A. SEBI

B. RBI

C. NITI Aayog

D. IRDAI

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Correct Answer: Option A

Explanation:
The Forward Markets Commission was merged with SEBI in 2015.

This question belongs to: Economy GK Economy Set 1

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