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

Question
The 'RTGS' system in India is used for transactions of minimum amount:
A. Rs 10,00,000
B. Rs 2,00,000
C. Rs 5,00,000
D. Rs 1,000
Answer: Option B
Solution (By JKSSB Mock Tests)
RTGS minimum amount is Rs 2,00,000.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
Which of the following is a feature of the Indian monetary policy framework since 2016?
A. Flexible inflation targeting with CPI as the nominal anchor
B. Exchange rate targeting
C. Monetary targeting with M3 as the sole intermediate target
D. Multiple indicator approach without a nominal anchor
Discuss
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Correct Answer: Option A

Explanation:
India adopted a Flexible Inflation Targeting framework in 2016, with CPI inflation as the nominal anchor and a target of 4% with a tolerance band of ±2%.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'World Economic Forum' holds its annual meeting in:
A. Basel
B. Zurich
C. Geneva
D. Davos
Discuss
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Correct Answer: Option D

Explanation:
The World Economic Forum annual meeting is held in Davos, Switzerland.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'International Monetary Fund' lending to a country under a Stand-By Arrangement is usually for:
A. climate finance
B. long-term development projects
C. military support
D. short-term balance of payments support
Discuss
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Correct Answer: Option D

Explanation:
IMF Stand-By Arrangements provide short-term balance of payments support.
This question belongs to: Economy GK Economy Set 1
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