The 'Regional Rural Banks' were established in India in which year? MCQ with Answer and Explanation

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The 'Regional Rural Banks' were established in India in which year?

A. 1980

B. 1991

C. 1969

D. 1975

Answer: Option D

Solution (By JKSSB Mock Tests)

Regional Rural Banks were established in 1975.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the context of exchange-rate regimes, a 'Currency Board' arrangement is characterised by:

A. A freely floating exchange rate

B. Only a crawling peg

C. Complete monetary discretion without any reserve backing

D. A fixed exchange rate backed by a full foreign-exchange reserve cover of the monetary base and limited monetary discretion

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Correct Answer: Option D

Explanation:
A currency board maintains a fixed exchange rate to an anchor currency, backs the entire monetary base with foreign reserves, and severely restricts the scope for discretionary monetary policy.

This question belongs to: Economy GK Economy Set 1

Question #2

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A cess imposed by the Union Government is levied:

A. only on luxury goods

B. only on imports

C. for a specific purpose

D. only on income

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Correct Answer: Option C

Explanation:
A cess is levied for a specific purpose and must be used for that purpose.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Pradhan Mantri Jan Arogya Yojana' is the health insurance component of:

A. Skill India

B. Startup India

C. Ayushman Bharat

D. Digital India

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Correct Answer: Option C

Explanation:
PM-JAY is the insurance component of Ayushman Bharat.

This question belongs to: Economy GK Economy Set 1

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