The 'National Cooperative Development Corporation' promotes: MCQ with Answer and Explanation

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The 'National Cooperative Development Corporation' promotes:

A. only banking

B. cooperative societies across sectors

C. imports

D. stock trading

Answer: Option B

Solution (By JKSSB Mock Tests)

NCDC promotes cooperative societies in various sectors.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a major reason for the growth of the service sector in India?

A. Liberalisation, IT revolution and rising incomes

B. Complete absence of industrial growth

C. Decline in demand for services

D. Only agricultural growth

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Correct Answer: Option A

Explanation:
The service sector in India has grown rapidly due to economic liberalisation, the information technology revolution, rising incomes and global demand for services such as software and BPO.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Credit Guarantee Fund Trust for Micro and Small Enterprises' provides guarantee cover to banks for loans to MSMEs.

A. True

B. Only for large enterprises

C. Only for foreign companies

D. False

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Correct Answer: Option A

Explanation:
CGTMSE provides credit guarantee to banks for loans to micro and small enterprises.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a function of the International Monetary Fund?

A. Regulating international trade rules

B. Providing only bilateral aid

C. Providing long-term project finance for infrastructure development

D. Providing short-term financial assistance for balance of payments problems and conducting surveillance

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Correct Answer: Option D

Explanation:
The IMF provides temporary financial support to countries facing balance of payments difficulties, conducts economic surveillance and offers technical assistance. Long-term project finance is the domain of the World Bank.

This question belongs to: Economy GK Economy Set 1

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