The 'UPI' transaction limit per transaction set by NPCI is generally: MCQ with Answer and Explanation

Question
The 'UPI' transaction limit per transaction set by NPCI is generally:
A. Rs 1,00,000
B. Rs 10,00,000
C. Rs 5,00,000
D. Rs 10,000
Answer: Option A
Solution (By JKSSB Mock Tests)
The general UPI transaction limit is Rs 1 lakh per transaction, though it varies by bank/category.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
The 'Rangarajan Committee' on poverty submitted its report in which year?
A. 2014
B. 2018
C. 2011
D. 2016
Discuss
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Correct Answer: Option A

Explanation:
The Rangarajan Committee on poverty submitted its report in 2014.
This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a feature of the 'Purchasing Power Parity' theory in its absolute form?
A. Exchange rates are determined only by trade balances
B. Only relative changes in prices matter
C. The exchange rate between two currencies equals the ratio of the countries’ price levels
D. The exchange rate equals the interest differential
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Correct Answer: Option C

Explanation:
Absolute purchasing power parity states that the nominal exchange rate should equal the ratio of the domestic to the foreign price level so that a basket of goods costs the same in both countries.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'tragedy of the commons' refers to:
A. underuse of private property
B. overuse of common property resources
C. market success
D. government failure
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Correct Answer: Option B

Explanation:
The tragedy of the commons is the overuse and depletion of common property resources.
This question belongs to: Economy GK Economy Set 1
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