The 'Reserve Bank of India' was nationalized on: MCQ with Answer and Explanation

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The 'Reserve Bank of India' was nationalized on:

A. 1 January 1947

B. 26 January 1950

C. 1 January 1949

D. 15 August 1947

Answer: Option C

Solution (By JKSSB Mock Tests)

The RBI was nationalized on 1 January 1949.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Goods and Services Tax' on intellectual property rights services is:

A. 12%

B. 18%

C. 28%

D. 5%

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Correct Answer: Option B

Explanation:
IPR services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'World Trade Organization' headquarters is in:

A. Washington D.C.

B. New York

C. Geneva

D. Paris

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Correct Answer: Option C

Explanation:
WTO headquarters is in Geneva.

This question belongs to: Economy GK Economy Set 1

Question #3

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The concept of 'Too Big to Fail' in banking refers to:

A. The legal requirement that all banks must be small

B. The expectation that systemically important banks will receive government support in the event of distress

C. The absence of any systemic risk

D. Only the size of non-bank firms

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Correct Answer: Option B

Explanation:
Too-big-to-fail refers to the market perception or policy practice that certain large and interconnected financial institutions will be rescued by the authorities because their failure would impose systemic costs.

This question belongs to: Economy GK Economy Set 1

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