The 'Ways and Means Advances' are given by RBI to: MCQ with Answer and Explanation

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The 'Ways and Means Advances' are given by RBI to:

A. foreign governments

B. commercial banks

C. NBFCs

D. central and state governments to bridge temporary mismatches in receipts and expenditures

Answer: Option D

Solution (By JKSSB Mock Tests)

Ways and Means Advances are short-term advances by RBI to governments to bridge temporary mismatches.

This question belongs to: Economy GK Economy Set 1

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The 'World Bank Group' has how many member countries in IBRD?

A. 150

B. 189

C. 193

D. 164

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Correct Answer: Option B

Explanation:
IBRD has 189 member countries.

This question belongs to: Economy GK Economy Set 1

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The 'Goods and Services Tax' on interest on deposits and loans is:

A. 0%

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D. 18%

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Correct Answer: Option B

Explanation:
Interest on deposits and loans is exempt from GST.

This question belongs to: Economy GK Economy Set 1

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The 'Code on Wages' was passed in which year?

A. 2017

B. 2021

C. 2020

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Correct Answer: Option D

Explanation:
The Code on Wages was passed in 2019.

This question belongs to: Economy GK Economy Set 1

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