The 'Public Financial Management System' is used for: MCQ with Answer and Explanation

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The 'Public Financial Management System' is used for:

A. stock trading

B. foreign exchange trading

C. digital management of government expenditures and payments

D. bank lending

Answer: Option C

Solution (By JKSSB Mock Tests)

PFMS is a digital platform for government expenditure and payment management.

This question belongs to: Economy GK Economy Set 1

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Question #1

The Reserve Bank of India was nationalized in the year:

A. 1949

B. 1935

C. 1947

D. 1955

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Correct Answer: Option A

Explanation:
The RBI was nationalized in 1949.

This question belongs to: Economy GK Economy Set 1

Question #2

A price floor set above the equilibrium price generally creates:

A. shortage

B. increase in demand

C. no change

D. surplus

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Correct Answer: Option D

Explanation:
A price floor above equilibrium creates excess supply or a surplus.

This question belongs to: Economy GK Economy Set 1

Question #3

A payment bank in India can accept demand deposits up to a maximum of:

A. Rs 2 lakh

B. Rs 5 lakh

C. Rs 50,000

D. Rs 1 lakh

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Correct Answer: Option D

Explanation:
Payment banks can accept demand deposits up to Rs 1 lakh per customer.

This question belongs to: Economy GK Economy Set 1

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