The 'NABARD' was established on the recommendation of which committee? MCQ with Answer and Explanation

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The 'NABARD' was established on the recommendation of which committee?

A. Gadgil Committee

B. Rangarajan Committee

C. Sivaraman Committee

D. Narasimham Committee

Answer: Option C

Solution (By JKSSB Mock Tests)

NABARD was established on the recommendation of the Sivaraman Committee.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a permitted asset for Statutory Liquidity Ratio?

A. Mutual fund units

B. Equity shares

C. Corporate bonds

D. Gold and government securities

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Correct Answer: Option D

Explanation:
SLR assets include cash, gold and approved government securities.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of behavioural economics, 'Anchoring' refers to:

A. Only the use of rational Bayesian updating

B. The tendency for quantitative judgments to be influenced by an initially presented value

C. The complete independence of judgments from any initial values

D. Only the effect of final outcomes

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Correct Answer: Option B

Explanation:
Anchoring is a cognitive bias in which individuals rely too heavily on an initial piece of information (the anchor) when making subsequent judgments.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following best describes the evolution of planning in India after 2015?

A. Continuation of mandatory Five Year Plans by the Planning Commission

B. Return to highly centralised planning without state participation

C. Replacement of the Planning Commission by NITI Aayog with emphasis on cooperative federalism and strategic advice

D. Complete abandonment of any form of planning or policy coordination

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Correct Answer: Option C

Explanation:
In 2015 the Planning Commission was replaced by NITI Aayog, which focuses on cooperative federalism, policy advice and knowledge sharing rather than imposing centralised plan targets.

This question belongs to: Economy GK Economy Set 1

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