Which of the following is not a member of the NITI Aayog Governing Council? MCQ with Answer and Explanation

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Which of the following is not a member of the NITI Aayog Governing Council?

A. Chief Ministers of states

B. Lieutenant Governors of union territories

C. RBI Governor

D. Prime Minister

Answer: Option C

Solution (By JKSSB Mock Tests)

The RBI Governor is not a member of the NITI Aayog Governing Council.

This question belongs to: Economy GK Economy Set 1

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Question #1

The term 'Non-Performing Asset' in Indian banking is defined as a loan where:

A. Interest or principal is overdue for more than 90 days

B. The borrower has excess collateral

C. The asset generates continuous income

D. Interest is paid regularly

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Correct Answer: Option A

Explanation:
As per RBI guidelines, a term loan is classified as NPA if interest or instalment of principal remains overdue for a period of more than 90 days.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Contract Labour (Regulation and Abolition) Act' was enacted in which year?

A. 1961

B. 1986

C. 1970

D. 1976

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Correct Answer: Option C

Explanation:
The Contract Labour Act was enacted in 1970.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Reverse repo rate' is the rate at which RBI:

A. rediscounts bills

B. lends to the government

C. lends to banks

D. borrows from banks against government securities

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Correct Answer: Option D

Explanation:
Reverse repo is the rate at which RBI borrows from banks against government securities.

This question belongs to: Economy GK Economy Set 1

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