The 'National Institution for Transforming India' was formed on: MCQ with Answer and Explanation

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The 'National Institution for Transforming India' was formed on:

A. 1 January 2015

B. 26 January 2015

C. 15 August 2014

D. 1 January 2014

Answer: Option A

Solution (By JKSSB Mock Tests)

NITI Aayog was established on 1 January 2015.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'overdraft' facility is typically associated with:

A. credit cards

B. drawing more than the balance in a current account

C. fixed deposits

D. insurance

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Correct Answer: Option B

Explanation:
An overdraft allows a customer to draw more than the available balance in a current account.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Merchandise Exports from India Scheme' was replaced by which scheme from 2021?

A. RoDTEP

B. MEIS

C. EPCG

D. SEIS

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Correct Answer: Option A

Explanation:
MEIS was replaced by the Remission of Duties and Taxes on Exported Products scheme.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a feature of the 'Gatekeeper' concept in digital-market regulation?

A. Only government agencies

B. Only offline retailers

C. Large online platforms that intermediate access to key digital markets and are subject to specific ex-ante obligations

D. Only small start-ups

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Correct Answer: Option C

Explanation:
In regulatory frameworks such as the EU Digital Markets Act, gatekeepers are designated large platforms that provide core platform services and are subject to a set of dos and don’ts designed to ensure contestability and fairness.

This question belongs to: Economy GK Economy Set 1

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