WBCS Main Examination Paper - V (The Constitution of India and Indian Economy including role and functions of RBI) - 2019

WBCS Main Exam Compulsory Question Paper V -2019 [The Constitution of India and Indian Economy including role and functions of RBI]

1. "Preamble of our Constitution is of extreme Importance and the Constitution should be read and interpreted in the light of the grand and noble vision expressed in the Preamble." Justice Sikri expressed the above opinion in the case of

(A) In re Kerala Education Bill

(B) A.K. Gopalan v. State of Madras

(D) Keshavananda Bharati v. State of Kerala

2. The Constitution of India has borrowed its federal scheme of 'Union of States' from which countrv ?

(A) USA (B) Canada (C) Ireland (D) Russia

3. Which of the following Articles describe about the person voluntarily acquiring citizenship of a foreign state not to be citizens ?

(A) Articles 5 (B) Article 6 (C) Article 7 (D) Articles 9

4. For the purpose of Part III of the Constitution, which of the following are not State ?

(A) Industrial and Financial Corporation

(B) Kerala Legislative Assembly

(C) National Council of Educational Research and Training

(D) Oil and Natural Gas Commission

5. In which of the following cases did the Supreme Court hold that an amendment of the Constitution under Article 368 was 'law' within the meaning of Article 13 ?

(A) Shankari Prasad v. Union of India

(B) Sajjan Singh v. State of Rajasthan

(C) Golaknath v. State of Punjab

(D) Keshavananda Bharati v. State of Kerala

6. Article 14 guarantees equality before law and equal protection of laws to

(A) all persons living within the territory of India

(B) all citizens living in India

(D) all persons natural as well as artificial

7. In which of the following cases was it observed that Articles 14, 19 and 21 are not mutually exclusive and they jointly aim at resonableness and fairness ?

(A) Golaknath v. State of Punjab

(B) Jagannath v. Union of India

(C) Maneka Gandhi v. Union of India

(D) Ram Swarup v. Delhi Administration

8. Untouchability is abolished and its practice is punishable according to

(A) Article 15 (B) Article 16 (C) Article 17 (D) Article 18

9. On which one of the following freedoms can reasonable restrictions be imposed on the ground of security of the State ?

(A) Speech and expression (B) Peaceful assembly (C) Association or Union (D) Movement

10. Right to freedom of religion cannot be restricted on the ground of

(A) Health (B) Morality (C) Public order (D) Security of State

11. Petitions to the Supreme Court under Article 32 are subject to the rule of Res judicata except

(A) Certiorari (B) Habeas corpus (C) Prohibition (D) Quo warranto

12. The fundamental rights under Article 12 - 35

(A) are absolutely flexible (B) can be amended (C) not justiciable (D) cannot be amended

13. The right to property was dropped from the pair of fundamental rights by the

(A) 24th amendment (B) 42nd amendment (C) 44th amendment (D) None of the above

14. In which of the following cases the doctrine against arbitrariness was incorporated into equality before law by Justice Bhagwati ?

(A) Air India v. Nargesh Mirza

(B) D. K. Bakshi v. Union of India

(C) E.P. Royappa v. State of Tamil Nadu

(D) Pradeep Jain v. Union of India

15. For the first time, which constitutional Amendment made it clear that 'State' in clause (a) to (e) of Article 3 of the constitution includes 'Union Territories' ?.

(A) 17th (B) 18th (C) 19th (D) 20th

16. "Excessive reservation would be fraud on Constitution of India" was observed by the Supreme Court in

(A) Ajit Singh v. State of Punjab

(B) Balaji v. State of Mysore

(C) Devdasan v. Union of India

(D) Indira Sawhney v. Union of India

17. When a Court declares certain provisions of an Act invalid, it does not affect the validity of the entire Act, according to

(A) Doctrine of eclipse

(B) Doctrine of prospective overruling

(C) Doctrine of severability

(D) None of the above

18. Under the Indian Constitution, which one of the .following is not a specific ground on which the State can place restrictions on freedom of relgion ?

(A) Health (B) Morality (C) Public order (D) Social justice

19. Article 23 of the Constitution does not prohibit

(A) beggary (B) compulsory service for public purpose (C) forced (D) traffic in human beings

20. A citizen of India, who holds any office of profit or trust under the State cannot accept any title from any foreign State without the consent of the

(A) Council of Ministers (B) Speaker of Lok Sabha (C) Prime Minister (D) President

21. The framers of the Constitution borrowed the concept of Directive Principles from

(A) Government of India Act, 1935

(B) Constitution of Ireland

(D) Constitution of United States of America

22. Fundamental Duties are enshrined in

(A) Part IV, Article 51

(B) Part IV A, Article 51

(D) Part IV A, Article 51A

23. According to the 86th Constitutional Amendment, 2002, the State shall endeavour to provide early childhood care and education for all children until they complete

(A) age of 3 years (B) age of 6 years (C) age of 7 years (D) age of 12 years

24. In the context of qualifications for contesting Presidential elections in India, which of the following statements is incorrect ?

(A) He should be a citizen of India.

(B) He should not hold office of profit.

(D) He should be aged 30.

25. The ex-officio Chairman of the Council of States is

(A) the President of India

(B) the Vice-President of India

(D) None of the above

26. The Executive Power of the State is vested with

(A) People of the State

(B) Chief Minister of the State

(C) Governor of the State

(D) State Legislative

27. In the event of the occurrence of vacancies in the offices of both, the President and Vice-President of India, who among the following shall discharge the functions of the President till new President is elected ?

(A) Chief Justice of India

(B) Leader of the majority party in the Parliament

(D) Speaker of the Lok Sabha

28. The power of the President of India to issue an ordinance is a

(A) constituent power (B) executive power (C) judicial power (D) legislative power

29. Any charge for impeachment of the President may be preferred

(A) only in the Council of States

(B) only in the House of the People

(C) in either House of the Parliament

(D) only in joint session of the Parliament

30. The Governor can be removed from the office

(A) by the President at his pleasure.

(B) by impeachment in Parliament.

(D) on a resolution passed by two-third majority in the State Legislative Assembly.

31. The salary and allowances of the Governor are charged to

(A) Consolidated Fund of India

(B) Contingency Fund of India

(C) Consolidated Fund of the State

(D) (A) and (C) in equal proportion

32. Who among the following is competent to seek the advisory opinion of the Supreme Court of India ?

(A) The President of India

(B) The Governor of a State

(D) All of the above

33. Rajya Sabha has a term of

(A) five years

(B) six years

(D) It is a permanent body in which one-third of the members retire after every second year

34. The Parliament of India consists of

(A) Lok Sabha and Rajya Sabha

(B) Lok Sabha and Vidhan Sabha

(C) Lok Sabha, Rajya Sabha and the President

(D) Lok Sabha, Rajya Sabha and the Prime Minister

35. Rajya Sabha can withhold Money Bills for a period of

(A) fourteen days (B) one month (C) three months (D) six months

36. Articles 155 and 156 of the Constitution deal with

(A) Election Commission

(B) Inter-State Commerce Commission

(D) President's power to appoint and dismiss Governor

37. The Council of Ministers at the Union remains in office as long as it enjoys the confidence of

(A) Lok Sabha (B) Parliament (C) President (D) Prime Minister

38. The President nominates —— Anglo-Indian members to the Lok Sabha.

(A) 1 (B) 2 (C) 5 (D) 7

39. The quorum requirement in the Rajya Sabha is

(A) 25 (B) 50 (C) 100 (D) 126

40. Which of these Houses is presided over by a non-Member ?

(A) Lok Sabha (B) Rajya Sabha. (C) Vidhan Sabha (D) All of the above

41. A person can be a member of the Council of Ministers without being a Member of Parliament for the maximum period of

(A) one month (B) three months (C) six months (D) one year

42. The Legislative Council in a State can be abolished by the Parliament on the recommendation of

(A) the State Legislative Assembly (B) the Governor (C) the President (D) None of the above

43. Decisions regarding disqualification of members of Lok Sabha are taken by the

(A) Parliamentary Secretary

(B) Minister for Parliamentary Affairs

(D) Speaker

44. On receipt of a Constitution Amendment Bill, having been passed by both Houses of the Parliament, the President

(A) may give his assent

(B) may withhold his assent

(D) shall give his assent

45. Under Article 321 of the Constitution, the power to extend functions of the Union Public Service Commission has been vested in the

(A) Chairman of the Commission (B) Ministry of Home Affairs (C) Parliament (D) President

46. Any sum required to satisfy any judgment, decree or award of any court or arbitral tribunal shall be charged on

(A) Consolidated Fund of India.

(B) Fund of Ministry of Law & Justice

(D) Prime Minister's Relief Fund

47. Who has the power to dissolve the House of the People ?

(A) Speaker (B) Prime Minister (C) President (D) Council of Ministers

48. What can be the maximum interval between two sessions of each House of the Parliament ?

(A) Three months (B) Six months (C) Nine months (D) One year

49. Which provision of the Constitution gives the Governor of a State power to grant pardon in certain cases ?

(A) Article 151 (B) Article 155 (C) Article 161 (D) Article 165

50. Which provision of the Constitution provides for the adjudication of disputes relating to waters of inter-State rivers ?

(A) Article 258 (B) Article 260 (C) Article 262 (D) Article 264

51. 'Doctrine of pleasure' was introduced in

(A) Article 310 (B) Article 312 (C) Article 317 (D) Article 318

52. Disputes between States in India comes to the Supreme Court under its

(A) advisory jurisdiction (B) appellate jurisdiction (C) original jurisdiction (D) None of the above

53. Who among the following can establish additional courts for better administration of any existing law with respect to a matter concerned in the Union List ?

(A) Chief Justice of India

(B) Concerned State Legislative

(D) Parliament

54. The doctrine of prospective overruling was first evolved by Justice Subba Rao in

(A) Golaknath v. State of Punjab

(B) Keshavananda Bharati v. State of Kerala

(D) Shankari Prasad v. Union of India

55. A retired judge of a High Court cannot practise

(A) in any High Court in India

(B) in the High Court from where he has retired

(D) All of the above

56. In which of the following cases has the Supreme Court ruled that the reasons have to be communicated to the Legislature by the Government if the advice of the Public Service Commission has not been accepted ?

(A) Asha. Kaul v. State of Jammu & Kashmir

(B) H. Mukherjee v. Union of India

(D) Jagtar Singh v. Director, Central Bureau of Investigation

57. The jurisdiction of the Supreme Court may be enlarged by

(A) the Parliament by law

(B) the Parliament by resolution

(D) the President in consultation with Chief Justice of India

58. Which Article lays down that the laws declared by the Supreme Court would be binding on all Courts in India ?

(A) Article 131 (B) Article 141 (C) Article 142 (D) Article 143

59. Article 227 of the Indian Constitution deals with

(A) High Court's power of superintendence

(B) judicial review

(D) election of the Vice President

60. The salaries of the Judges of the Supreme Court in India

(A) are fixed by the President of India.

(B) can never be reduced under any circumstances.

(D) cannot be reduced during the term of their office except during financial emergency.

61. Disputes between the Government of India and one or more States can be heard by the Supreme Court of India under its

(A) original jurisdiction (B) appellate jurisdiction (C) writ jurisdiction (D) advisory jurisdiction

62. "What cannot be done directly cannot be done indirectly" This statement epitomizes the doctrine of

(A) ancillary powers (B) colourable legislation (C) implied powers (D) pith and substance

63. Which of the following provisions in Part III of the Constitution automatically becomes suspended on proclamation of emergency ?

(A) Article 14 (B) Article 19 (C) Article 21 (D) Article 32

64. A legislation enacted by a State Legislature falls in the category of —— legislation.

(A) autonomous (B) delegated (C) subordinate (D) supreme

65. Which of the following is not true ?

(A) Parliament has exclusive power to make law on any matter in the Union List.

(B) Parliament and State Legislatures have power to make law on any matter in the Concurrent List.

(C) In certain exceptional circumstances, State Legislatures can make law on the subject given in the Union List..

(D) Parliament can make laws on subjects in the State List in certain circumstances.

66. Both Parliament and State Legislatures can legislate on

(A) criminal, law and procedure

(B) economic and social planning

(D) All of the above

67. The Union Government can assign any function in the States.

(A) on the recommendation of the Parliament.

(B) on the directive of the President.

(D) with the consent of the concerned State Government.

68. The Constitutional provision relevant for solving questions of repugnancy between a Central Law and a State Law is found in

(A) Article 156 (B) Article 254 (C) Article 300 (D) Entry 42, List III

69. The constitution reserves the residuary powers in the

(A) President (B) Parliament (C) Union (D) States

70. A change in distribution of powers between the Centre and the States can be done by

(A) the Union Government

(B) the States by themselves

(C) amending the Constitution

(D) None of the above

71. Which one of the following is no longer considered an adequate ground for the issue of Proclamation of Emergency ?

(A) Armed rebellion (B) External aggression (C) Internal disturbance (D) War

72. Judicial review of proclamation under Article 356 would lie on any one of the following grounds.

(A) The proclamation has been made upon the consideration which is extraneous of irrelevant.

(B) Exercise of the power under Article 356 is malafide,

(D) All of the above

73. Finance Commission consists of

(A) Chairman and three other members

(B) Chairman and four other members

(D) Five members

74. The Parliament has the power to legislate on the subjects of all three Lists in respect of

(A) Backward areas (B) Hill areas (C) Scheduled areas (D) Union Territories

75. A resolution ratifying a Proclamation of Emergency requires to be passed

(A) by either House of Parliament.

(B) by Lok Sabha.

(D) by each House of Parliament in separate sittings with majority of total membership of each House and by majority of not less than 2/3rd of members present and voting.

76. A Constitutional Amendment shall also be ratified by Legislatures of not less than one-half of the states by resolution if it is meant to make any change in

(A) Fundamental Rights (B) Directive Principles (C) Fundamental Duties (D) Special Provisions

77. Which of the following amendments to the Constitution inserted the words "Nothing in Article 13 shall apply to any amendment made under this Article" in Article 368 ?

(A) 22nd Amendment (B) 24th Amendment (C) 42nd Amendment (D) 44th Amendment

78. When the name of a State is changed or a new State is created the Constitution is required to be amended by the Parliament by a

(A) simple majority as required under Articles 107 and 108.

(B) majority of total members of both the Houses under Article 368.

(D) special majority after obtaining the opinion of the concerned State Legislature under Article 3.

79. The 42nd Constitutional Amendment did not

(A) add the words 'socialist', 'secular' and 'integrity' to the Preamble.

(B) add fundamental duties.

(C) delete the rights to property clause from Article 19.

(D).amend Article 353 relating to Proclamation of Emergency.

80. Which of the following Constitutional Amendments was enacted to deal with issues of national integration in the 1960s, enabling the State to impose.by law responsible restrictions on the exercise of the fundamental right to freedom guaranteed in Article 19 in the interests of the sovereignty and integrity of India ?

(A) 15th Amendment (B) 16th Amendment (C) 17th Amendment (D) State was never given such power

81. Which of the following Amendments added anti-defection provisions in the Constitution ?

(A) 41st Amendment (B) 42nd Amendment (C) 43rd Amendment (D) 52th Amendment

82. Which of the following were not inserted in Part IV of the Constitution by the 42nd Amendment ?

(A) Free legal aid to economically backward classes.

(B) Participation of workers in the management of organization engaged in any industry.

(D) Organisation of Village Panchayats,

83. National Capital Territory of Delhi was constituted by

(A) Ordinance promulgated by the Lieutenant Governor.

(B) Ordinance promulgated by the President.

(D) 69th Amendment.

84. The Union Public Service Commission has advisory power in the following matters.

(A) Methods of recruitment to civil Service

(B) Disciplinary matters affecting a public servant

(C) Both of the above

(D) None of the above

85. The term of the members of a State Public Service Commission is of

(A) 5 years (B) 6 years (C) 10 years (D) None of the above

86. The tenure of Gram Panchayat and Nagarpalika shall be for

(A) 3 years

(B) 4 years

(C) 5 years, unless dissolved earlier

(D) co-extensive with the term of legislative assembly

87. Election to the Gram Panchayats are

(A) to be direct on the basis of adult franchise

(B) by indirect method

(D) None of the above

88. A Union Territory is administered by

(A) the Governor of the territory.

(B) the President of India directly.

(C) the President of India through an administrator appointed by him called the Lieutenant Governor.

(D) the Chief Minister of the territory and his Council of Ministers.

89. Provisions relating to Union Public Service Commission and State Public Service Commissions are contained in

(A) Part XIV Chapter I, Articles 315-323

(B) Part XIV Chapter II, Articles 315-323

(D) Part XIV Chapter II, Articles 308-318

90. A member of a State Public Service Commission can be removed on the ground of misbehaviour only after the enquiry has been held by

(A) Joint Parliamentary Committee

(B) Committee constituted by the Governor of the concerned State

(D) Supreme Court of India

91. The Tenth Schedule of the Constitution deals with

(A) defections (B) the Election Commission (C) the Finance Commission (D) Other Backward Classes

92. Which Article provides for procedure in Parliament with respect to Estimates ?

(A) Article 110 (B) Article 111 (C) Article 113 (D) Article 114

93. Who nominates the Chairman of Public Accounts Committee of the Parliament ?

(A) Chairman of Rajya Sabha (B) President (C) Prime Minister (D) Speaker of Lok Sabha

94. Finance Commission is constituted by the President every

(A) 2 years (B) 3 years (C) 4 years (D) 5 years

95. By virtue of its special status, the State of Jammu & Kashmir has a separate

(A) Constitution (B) defence force (C) judiciary (D) All of the above

96. The Union Public Service Commission submits its annual report on its work to

(A) the Chief Justice of India (B) the Parliament (C) the President (D) the Union Home Minister

97. The Election Commission is responsible for the conduct of election to

(A) Parliament (B) State Legislature (C) Offices of President and Vice President (D) All of the above

98. The Indian Independence Act, 1947, came into force on

(A) 3rd June, 1947 (B) 18th July, 1947 (C) 26th July, 1947 (D) 14th August, 1947

99. The first session of the Constituent Assembly was held on

(A) 15th August, 1947 (B) 26th January, 1946 (C) 9th December, 1946 (D) 26th November, 1949

100. The Constitution of India was adopted by the Constituent Assembly on

(A) 15th August, 1947 (B) 25th August, 1949 (C) 26th November, 1949 (D) 26th January, 1950

101. Which of the following is not a quantitative credit control tool of RBI ?

(A) Bank Rate (B) Margin requirements (C) SLR (D) Open market operation

102. —— is the regulator of mutual funds in India.

(A) RBI (B) SEBI (C) Both SEBI and GOI (D) IRDA

103. Fully automated screen based trading system NSE is known as

(A) BOLT (3) NEAT (C) ALBM (D) BLISS

104 —— is the venture capital assistance at the stage where the project started to fetch profit but not reached in its full efficiency.

(A) Start up Capital (B) Bridge Capital (C) Mezzanine Capital (D) Seed Capital

105. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (S A R F A E S I) Act passed in the year

106. Which one of the following is an example of derivative ?

(A) Warrants (B) Swaptions (C) Baskets (D) All of the above

107. In Pradhan Mantri Fasal Bima Yojana (PMFBY), the timeline of how many months is set for settlement of claims by insurance companies after the completion of crop cutting experiments/harvesting period ?

(A) One (B) Two (C) Three (D) Four

108. According to the data released by the Central Statistics Office (CSO), the Indian economy is likely to grow at what percent in the financial year (2018-19) ?

(A) 6.7 percent (B) 6.9 percent (C) 7.2 percent (D) 7.4 percent

109. According to the World Economic Forum's (WEF) report titled 'Future of Consumption in Fast-Growth Consumer Market - India', what will be India's ranking as the world's largest consumer market by 2030 ?

(A) Second (B) Third (C) Fourth (D) Fifth

110. Which of the following is one of the states which has topped NITI Aayog's Index of Indian States performance on various UN Sustainable Development Goals (SDGs) ?

(A) Karnataka (B) Gujarat (C) Maharashtra (D) Kerala

111. The Govt. has decided to provide what percent interest subsidy to merchant exporters, entailing an expenditure of Rs.600 cr ?

(A) 2 percent (B) 3 percent (C) 4 percent (D) 5 percent

112. Which of the following are considered to be Stressed Assets of Banks ?

(A) NPAs (B) Restructured Loans (C) Written off Assets (D) All of the above

113. Which authority is entrusted with the task of overseeing implementation of Sustainable Development Goals in India ?

(A) NITI Aayog (B) PMO (C) Cabinet (D) None of the above

114. Consider the following statements regarding Prompt Corrective Action Plan of RBI :

(i) PCA norms permit RBI to put in place certain restrictions such as halting branch expansion and stopping dividend payment etc.

(ii) The norms are also capable of even capping a bank's lending limit to one entity or sector,

(iii) Under PCA the RBI is also capable of superseding the bank's board.

Select the correct answer :

(A) (i) and (ii) only (B) (i) and (iii) only (C) (ii) and (iii) only (D) (i), (ii) and (iii) only

115. Consider the following statements :

(i) Economic Advisory Council to the Prime Minister is a non-constitutional, permanent and independent body.

(ii) It advises the Prime Minister on whole heart of economic issues like inflation, microfinance, industrial output etc.

Which of the above statement(s) is/are correct ?

(A) (i) only (B) (ii) only (C) Both (i) and (ii) (D) None of the above

116. The Green Revolution in agriculture has made the Indian farmers dependent on

(A) Machines (B) Fertilizers and Pesticides (C) Indigenous (D) Availability of Micro-nutrients

117. NABARD is associated with

(A) industrial development (B) urban development (C) rural development (C) development of railways

118. Bank Rate is an instrument of

(A) credit control (B) reducing fiscal deficit (C) reducing deficit financing (D) increasing tax revenue

119. In which year was the Reserve Bank of India established ?

120. Which one of the following rules is not determined by the Reserve Bank of India ?

(A) CRR (B) SLR (C) Repo Rate (D) Prime Lending Rate

121. 'Planned Economy for India" — The book was written by

(A) Sir M. Visvesvarayya (B) J. L. Nehru (C) S. N. Agarwal (D) M. N. Roy

122. Planning Commission has been scrapped on

(A) January 1, 2015 (B) August 13, 2014 (C) January 22, 2015 (D) July 2, 2015

123. The new defunct Planning Commission was set up on

(A) March 15, 1950 (B) August 6, 1952 (C) September 1, 1951 (D) None of the above

124. The aim of the Third Five Year Plan (1961-66) was

(A) rapid industrialisation.

(B) growth with stability and progress towards self-reliance.

(C) self-reliant and self-generating economy.

(D) removal of poverty and attainment of self-reliance.

125. It is an urban renewal and retrofitting program with a mission to develop 100 cities all over the country making them citizen friendly and sustainable.

What is it ?

(A) Start up India (B) Skill India (C) Swachh Bharat Abhijan (D) Smart City Mission

126. Aims to achieve an Open-Defecation Free (ODF) India by October 2, 2019. It is —

(A) Ujala Yojana

(B) P. M. Mudra Loan Bank Yojana

(C) Swachh Bharat Abhiyan

(D) Deen Dayal Upadhyaya Gram Jyoti Yojana

127. GNP = GDP + X - M

where M means

(A) income earned and received by nationals within the boundaries of foreign countries.

(B) income received by foreign nationals from wihtin the country.

(D) indirect taxes and subsidies.

128. GDP (at market price) - NTT = ?

(A) NNP (at market price) (B) GNP (at factor cost) (C) NDP (at market price) (D) None of these

129. Who is the author of the book 'Poverty and Un-British Rule' in India' ?

(A) Dadabhai Naoroji (B) Amartya Sen (C) Pranab Mukherjee (D) Amit Mitra

130. Area of Black Revolution :

(A) Oil seeds (B) Fish (C) Cotton (D) Petroleum Production

131. MSMEs Development Act, 2006 defines Medium Service Sector

(A) above Rs. 2 crore to Rs. 5 crore

(B) above Rs. 5 crore to Rs. 10 crore

(D) above Rs. 10 lakh to Rs. 2 crore

132. Find the odd one in the list of Navaratnas (IT)

(A) Bharat Electronics Limited (BEL)

(B) Rashtriya Ispat Nigam Limited (RINL)

(C) National Thermal Power Corporation (NTPC)

(D) Hindustan Aeronautics Limited (HAL)

133. Industrial sickness due to the managerial incompetence and wrong policies pursued deliberately for want of genuine stake is known as

(A) Genuine sickness (B) Incipient sickness (C) Induced sickness (D) None of the above

134. 1st Governor of RBI is

(A) Osborne Smith (B) CD Deshmukh (C) Raghu Ram Rajan (D) Urjit Patel

135. EXIM Bank was set up

(A) January 1,1982 (B) April 15, 1980 (C) September, 1993 (D) October, 1975

136. Variation in margin requirement —

(A) Quantitative credit control (B) Qualitative credit control (C) Both (A) and (B) (D) None of the above

137. In case RBI wants to make it more expensive for the banks to borrow money it ——

(A) increases the repo rate

(B) reduces the repo rate

(D) decreases reverse repo rate

138. There are three main treasury bills in India

(A) 91 day, 182 day and 364 day

(B) 92 day, 183 day and 365 day

(D) None of the above

139. An instant real-time inter-bank electronic funds transfer system, which offers an inter-bank electronic fund transfer service through mobile phones known as

(A) RTGS (B) NEFT (C) IMPS (D) UPI

140. An investment plan in which the Company pays return to investors from the new capital coming in from new investors instead of the profits of the business known as

(A) Underwriting (B) Ponzi scheme (C) Mutual fund (D) Para Banking

141. Magnetic Ink Character Recognition (MICR) code is

(A) 7 digit code (B) 8 digit code (C) 9 digit code (D) 10 digit code

142. Securities and Exchange Board of India (SEBI) was given statutory status and powers through an ordinance promulgated on

(A) January 30, 1992 (B) April 12, 1988 (C) April 10, 1992 (D) April 19, 2000

143. The illegal practice of trading on the stock exchange to one's own advantage through having access to confidential informations is knows as

(A) Bull market (B) Bear market (C) Insider trading (D) Initial Public Offering (IPO)

144. Withdrawal of currency from circulation to ambush black market specially Rs.500 and Rs.1000 banknotes were demonetized, although Rs.500 note was remonetized on —

(A) January, 1946 (B) January, 1978 (C) November, 2016 (D) None of the above

145. A currency with a value that fluctuates as a result of the country's political or economic uncertainty is known as

(A) Hard Currency (B) Soft Currency (C) Both (A) and (B) (D) None of the above

146. A condition of slow economic growth and relatively high unemployment—economic stagnation—accompanied by rising prices is known as

(A) Stagflation (B) Hyper-inflation (C) Demand-pull inflation (D) Cost push inflation

147. Since April 2014 the Reserve Bank of India has adopted the new measure of inflation which is known as

(A) Consumer Price Index (B) New Consumer Price Index (C) Wholesale Price Index (D) None of the above

148. The Gold Monetization Scheme introduced by the Government of India in

149. Money policy increases the inflation rate is known as

(A) Cheap money policy (B) Dear money policy (C) Hot money (D) Flat money

150. The instruments issued by registered FIIS to overseas investors, who wish to invest in Indian stock markets without registering themselves with SEBI - known as

(A) Certificates of Deposit (CDs)

(B) Participatory notes (P-notes)

(D) Foreign exchange reserves

151. Find the odd one out :

India's Top Imports include

(A) Gems (B) Precious Metals (C) Oil (D) Diamond

152. Find the odd one out :

Direct Taxes are

(A) Income Tax

(B) Capital gains Tax

(D) Goods and Services Tax (GST)

153. The scheme encourages parents to build a fund for the future education and marriage expenses for their female child, backed by Government of India. The scheme is

(A) Sukanya Samriddhi Yojana

(B) Beti Bachao, Beti Padhao

(D) P. M. Jan Suraksha Yojana

154. Pradhan Mantri Ujjwala Yojana was launched in

155. The chief promoter of National Securities Depository Limited (NSDL) is

(A) NABARD (B) NSCCL (C) NSE (D) BSE

156. The corpus of funds and its duration is fixed in case of —— fund.

(A) Open ended (B) Close ended (C) Balanced (D) Income

157. On which bank the RBI has slapped Rs. 1 crore penalty for not monitoring the end use of funds in respect of one of its borrowers ?

(A) Bank of Baroda (B) PNB (C) SBI (D) Allahabad Bank

158. The RBI has announced that it will transfer an interim surplus of INR —— to the Central Government for the half year ended 31st December 2018.

(A) Rs.28,000 crore (B) Rs.20,000 crore (C) Rs.30,000 crore (D) Rs.25,000 crore

159. The RBI raised the limit of collateral free agricultural loans to Rs.1.6 lakh from the current —— with a view to help small and marginal farmers.

(A) Rs. 50,000 (B) Rs. 1 lakh (C) Rs. 3.5 lakh (D) Rs. 80,000

160. Indian Banking Association has issued advisory requesting banks to waive off the processing, documentation, inspection and all other service charges for Kisan Credit Card and crop loans up to INR ——

(A) Rs. 2 lakh (B) Rs. 3 lakh (C) Rs. 4 lakh (D) Rs. 4.50 lakh

161. India's fiscal deficit has touched —— of the FY 19 Budget target of Rs. 6.24 lakh crore during the period of 9 months from April to December 2018.

(A) .90% (B) 100% (C) 112% (D) 115%

162. What is the name of the mega pension scheme announced in Interim Budget 2019 under which Rs.3,000 per mouth pension for 10 crore unorganised sector workers has been proposed for contribution of Rs. 100/55 per month ?

(A) Pradhan Mantri Shram Yogi Maandhan

(B) PM Kisan Samman

(D) Sukanya Samriddhi Yojana

163. Which State Govt, has announced interest free loans of up to three lakh rupees for women self-help group (WSHGs) in the state ?

(A) West Bengal (B) Rajasthan (C) Chattisgarh (D) Odisha

164. The public sector banks in India have the largest number of branches in which of the following countries ?

(A) Singapore (B) UAE (C) UK (D) Hong Kong

165. Rythu Bandhu Scheme is implemented in which State ? The state govt. provides an income support: of Rs.4000 per acre per season to farmers .under the scheme :

(A) Odisha (B) Assam (C) Telengana (D) Kerala

166. Which State has announced new temporary cow shelters in the urban and rural areas and imposition of a cess on excise duty for the same ?

(A) Madhya Pradesh (B) Rajasthan (C) Uttar Pradesh (D) Haryana

167. Which State has emerged on top of Asia Competitiveness Institute (ACI), Singapore's 2018 Ease of Doing Business Index ?

(A) Rajasthan (B) Gujarat (C) Delhi (D) Andhra Pradesh

168. The RBI has said that PPI users will have no liability, if they report fraud within three days. Hence the term PPI starts for

(A) Postpaid Payment Instruments

(B) Permitted Payment Instruments

(D) Prepaid Payment Instruments

169. The govt. collected what amount as GST in Dec 2018 ?

(A) Rs.92,726 Cr. (B) Rs.94,726 Cr. (C) Rs.95,726Cr. (D) Rs.96,726Cr.

170. Which State Govt, recently announced two welfare initiatives for farmers as part of the 'Krishi Krishak Bondhu' Scheme ?

(A) Odisha .(B) West Bengal (C) Uttar Pradesh (D) Bihar

171. Who among the following was recently declared 'fugitive economic offender' by a Mumbai Court ?

(A) Nirav Modi (B) Lalit Modi (C) Subrata Roy (D) Vijay Mallya

172. Which country asked the RBI to declare Indian currency notes of denominations higher than Rs.100 legal tender in that country ?

(A) Maldives (B) Nepal (C) Bhutan (D) Mayanmar

173. The RBI has allowed the Small Industries Development Bank of India (SIDBI) to use an existing Rs.1000 Cr. corpus for lending to

(A) Microfinance Institutions (B) Students (C) Payment Banks (D) Farmers

174. The Book 'Changing India' has been penned by who among the followings ?

(A) Pranab Mukherjee (B) Amit Shah (C) Raghu Ram Rajan (D) Manmohan Singh

175. The Indian origin (Mysore-born) economist has joined International Monetary Fund as its Chief Economist. Who is she/he ?

(A) Gita Gopinath (B) Amitabh Chaudhury (C) Jaideep Govind (D) Vishakha Mulye

176. The GST council took a slew of decision aimed at reducing the tax and compliance burden on small and medium enterprises. The limit for eligibility for the Composition Scheme would be raised to an annual turnover of —— from April, 1019.

(A) Rs. 1 Cr. (B) Rs. 1.5 Cr (C) Rs. 2 Cr. (D) Rs. 2.5 Cr.

177. The Reserve Bank of India on January 1, 2019 allowed lenders to recast loans of stressed micro, small and medium enterprises (MSMEs), provided the total fund and non-fund-based exposure to such a borrower does not exceed —

(A) Rs. 10 Cr. (B) Rs, 15 Cr. (C) Rs. 20 Cr. (D) Rs. 25 Cr.

178. Find the odd one :

India's major import partners are

(A) China (B) The US (C) The UAE (D) UK

179. Maharatna Oil PSU Indian Oil will invest over —— in West Bengal in the next two years.

(A) Rs. 1300 crore (B) Rs.1200 crore (C) Rs.1100 crore (D) Rs.1000 crore

180. Dutch firms are ready to help in setting up port facilities (Logistic Hub) at —— in West Bengal.

(A) Calcutta Port (B) Haldia Port (C) Tajpur and Kulpi (D) All of the above

181. The Government of India is amending a clause of the 1991 Treaty of Trade and Transit to explore water routes. Name the other country.

(A) Bhutan (B) Sri Lanka (C) Maldives (D) Nepal

182. At the NITI Aayog meeting of CMs on 15th June 2019 the P.M. said that the goal of making India a —— economy by 2024 was challenging but achievable.

(A) $ 3 trillion (B) $ 4 trillion (C) $ 5 trillion (D) $ 6 trillion

183. State Bank of India has reported a net profit of —— for the quarter ended March, 2019.

(A) Rs.838 crore (B) Rs.738 crore (C) Rs.638 crore (D) Rs.538 crore

184. The man's unique feet: unveilling e-Choupal with an aim to change India's rural economy by empowering farmers. He died on May 11, 2019, Who is he ?

(A) Yogesh Chander Deveshwar (YCD) (B) Meera Sanyal (C) Masazo Nonaka (D) Atal Behari Vajpayee

185. The Govt. has exempted rupee payments made to the oil company NIOC towards the purchase of crude oil from payment of any tax NIOC belongs to

(A) Saudi Arabia (B) Venezuela (C) Cambodia (D) Iran

186. Which of the following private sector banks has announced a 'blended finance facility' to rescue salt farmers of Rann of Kutch (Gujarat) ?

(A) HDFC Bank (B) ICICI Bank (C) YES Bank (D) AXIS Bank

187. A loan offered by a group of lenders who work together to provide funds for a single borrower is called

(A) Bridge Loan (B) Assignment (C) Overdraft (D) Syndicate Loan

188. Andhra Bank has announced to deploy over 1600 BCs to boost financial and non-financial transaction. Here the term BC stands for

(A) Branch Correspondents (B) Bank Centres (C) Business Correspondents (D) Business Centres

189. The RBI has set up an expert committee to suggest long term solutions for the economic and financial sustainability of the MSME sector. The committee is headed by

(A) U.K. Sinha (B) Chitra Ramkrishna (C) D.R.Mehta (D) Arundhati Bhattacharya

190. Financial Inclusion as per RBI means :

(A) Greater Consumer Protection for newly included customers. .

(B) An easily accessed and speedy grievance redressal process.

(D) All of the above

191. Indian Foreign Exchange Reserves comprises of

(A) Gold & SDR

(B) Reserve Tranche Position (RTP) in the IMF

(D) All of the above

192. RBI uses reverse repo to absorb liquidity. The statement is

(A) True (B) False (C) Partly True (D) Does not apply

193. Which among the following will be a debit entry in India's balance of payments ?

(A) Imports of goods by India

(B) Income of Indian investments abroad

(D) Exports of services by India

194. In the composition of National Income in India the contribution of the —— is the highest.

(A) Primary Sector (B) Secondary Sector (C) Service Sector (D) Social Sector

195. Devaluation of currency leads to :

(A) Fall in domestic price (B) Increase in domestic price (C) Can't be predicted (D) None of the above

196. What is FEMA ?

(A) First Exchange Management Act

(B) Foreign Exchange Management Act

(D) Foreign Evaluation Management Act

197. Which one of the following was launched with the objective of helping the poor in rural areas for become self employed through training ?

(A) DPAP (B) IRDP (C) TRYSEM (D) DDP

198. At the presentation of the Annual Financial Statement before Parliament, a Finance Bill is also presented in fulfilment of the requirement of Article —— of the Constitution, detailing the imposition, abolition, remission, alteration or regulation of taxes proposed in the Budget.

(A) Article 110 (1)(a) (B) Article 111(1)(a) (C) Article 112(1)(a) (D) Article 113(1)(a)

199. It aims to fast track taxpayer's grievance redressal ensuring early resolution by integrating all the online and physical grievances received by the department and keeping track of it until it reaches in logical conclusion. What is it ?

(A) Aayakar Seva Kendra (B) Aayakar Setu (C) e-Nivaran (D) TDS SMS alert scheme

WBCS Main Examination Paper - V (The Constitution of India and Indian Economy including role and functions of RBI) - 2019

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