The 'State Bank of India' was nationalized in which year? MCQ with Answer and Explanation

The 'State Bank of India' was nationalized in which year?
A. 1980
B. 1955
C. 1949
D. 1969
Answer: Option B
Solution (By JKSSB Mock Tests)
The State Bank of India was nationalized in 1955.

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Practice More Economy Set 1 Questions

Question #1
Which of the following is a major source of non-tax revenue for the Government of India?
A. Interest receipts and dividends from PSUs
B. Personal income tax
C. Corporation tax
D. Customs duty

Correct Answer: Option A


Explanation:
Interest receipts on loans given by the government and dividends/profits from public sector enterprises are important components of non-tax revenue.

This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a characteristic of the 'Risk-Sharing' benefits of international financial integration?
A. Countries can smooth consumption in the face of idiosyncratic shocks by trading claims on future output
B. Only closed economies can smooth consumption
C. Integration always increases consumption volatility
D. Risk-sharing is irrelevant for welfare

Correct Answer: Option A


Explanation:
International risk-sharing allows countries to diversify away country-specific income shocks by holding foreign assets, thereby reducing the volatility of national consumption relative to national output.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'Goods and Services Tax' on hotel rooms with tariff below Rs 1,000 is:
A. 5%
B. 18%
C. 0%
D. 12%

Correct Answer: Option C


Explanation:
Hotel rooms below Rs 1,000 tariff are exempt from GST.

This question belongs to: Economy GK Economy Set 1