The 'International Bank for Reconstruction and Development' mainly provides: MCQ with Answer and Explanation

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The 'International Bank for Reconstruction and Development' mainly provides:

A. loans to middle-income and creditworthy low-income countries

B. short-term balance of payments support

C. military aid

D. grants only

Answer: Option A

Solution (By JKSSB Mock Tests)

IBRD provides loans to middle-income and creditworthy low-income countries.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Cheque Truncation System' processes cheques by:

A. transmitting electronic image of the cheque

B. physically moving cheques to the paying bank

C. converting cheques into cash immediately

D. destroying all cheques

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Correct Answer: Option A

Explanation:
CTS processes cheques by transmitting electronic images rather than moving physical cheques.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on ice cream is:

A. 28%

B. 12%

C. 5%

D. 18%

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Correct Answer: Option D

Explanation:
Ice cream attracts 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on restaurant food is:

A. 18%

B. 12%

C. 5% without ITC

D. 28%

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Correct Answer: Option C

Explanation:
Restaurant services generally attract 5% GST without input tax credit.

This question belongs to: Economy GK Economy Set 1

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