The 'RTGS' system in India is used for transactions of minimum amount: MCQ with Answer and Explanation

The 'RTGS' system in India is used for transactions of minimum amount:
A. Rs 1,000
B. Rs 5,00,000
C. Rs 10,00,000
D. Rs 2,00,000
Answer: Option D
Solution (By JKSSB Mock Tests)
RTGS minimum amount is Rs 2,00,000.

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Practice More Economy Set 1 Questions

Question #1
The expenditure on old age pension is classified as:
A. developmental expenditure
B. plan expenditure
C. revenue expenditure
D. capital expenditure

Correct Answer: Option C


Explanation:
Old age pension is a recurring revenue expenditure that does not create assets.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'withdrawal' from the circular flow in a three-sector economy includes:
A. investment
B. government expenditure
C. exports
D. taxes and saving

Correct Answer: Option D


Explanation:
In a three-sector economy, withdrawals include saving and taxes.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'G-7' group includes which of the following countries?
A. Australia, South Korea, South Africa
B. India, China, Brazil
C. United States, United Kingdom, Germany, France, Italy, Japan, Canada
D. Russia, China, India, Brazil

Correct Answer: Option C


Explanation:
The G7 comprises the US, UK, Germany, France, Italy, Japan and Canada.

This question belongs to: Economy GK Economy Set 1