The 'repo' in monetary policy means the RBI: MCQ with Answer and Explanation

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The 'repo' in monetary policy means the RBI:

A. purchases securities from banks with an agreement to sell them back later

B. sells securities to banks and agrees to repurchase them later

C. borrows from foreign central banks

D. gives unsecured loans to banks

Answer: Option A

Solution (By JKSSB Mock Tests)

In a repo, the RBI purchases securities from banks with an agreement to resell them later, injecting liquidity.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'New Economic Policy 1991' devalued the rupee by about how much in two stages?

A. 18%

B. 50%

C. 5%

D. 30%

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Correct Answer: Option A

Explanation:
In July 1991, the rupee was devalued by about 18% in two steps.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on lottery, betting and gambling is part of the:

A. 18% slab

B. 28% slab plus cess

C. 12% slab

D. 5% slab

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Correct Answer: Option B

Explanation:
Lottery, betting and gambling are in the 28% slab.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on air freight is:

A. 28%

B. 5%

C. 18%

D. 12%

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Correct Answer: Option C

Explanation:
Air freight services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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