The 'overdraft' facility is typically associated with: MCQ with Answer and Explanation

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The 'overdraft' facility is typically associated with:

A. drawing more than the balance in a current account

B. insurance

C. credit cards

D. fixed deposits

Answer: Option A

Solution (By JKSSB Mock Tests)

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

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Practice More Economy Set 1 Questions

Question #1

The 'Pradhan Mantri Kaushal Vikas Yojana' was launched in:

A. 2013

B. 2015

C. 2016

D. 2018

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Correct Answer: Option B

Explanation:
PMKVY was launched in 2015.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'government route' for FDI requires:

A. only RBI approval

B. only SEBI approval

C. no approval

D. prior approval from the government

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Correct Answer: Option D

Explanation:
Government route requires prior approval from the concerned government ministry.

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'Moral Suasion' as a monetary policy tool refers to:

A. Change in the bank rate only

B. Persuasion by the central bank to influence bank behaviour

C. Quantitative restriction on credit

D. Legal compulsion on banks

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Correct Answer: Option B

Explanation:
Moral suasion involves the central bank using persuasion, advice and appeals to influence the lending behaviour of commercial banks without legal compulsion.

This question belongs to: Economy GK Economy Set 1

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