Quiz-summary
0 of 5 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
Information
Dear students,
1. In the comments section, share your score and also let everyone know the logic you’ve used to mark certain answers. This will trigger intelligent discussions benefitting everyone.
2. Completing the test should be your top priority. Focus on accuracy rather than simply attempting more questions. Give enough thought to each question, we have increased the time limit so you can do this.
3. At the end of the test, click on ‘View Questions’ button to check the solutions.
*You can attempt the test multiple times for your own practice but only your first attempt will be counted for rankings.
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 5 questions answered correctly.
Time has elapsed
You have reached 0 of 0 points (0).
Average score |
|
Your score |
|
Categories
- Not categorized 0%
Pos. | Name | Entered on | Points | Result |
---|---|---|---|---|
Table is loading | ||||
No data available | ||||
- 1
- 2
- 3
- 4
- 5
- Answered
- Review
-
Question 1 of 5
1. Question
1 pointsConsider the following statements regarding White Label ATM (WLA)
1. Automated Teller Machines (ATMs) set up, owned and operated by non-bank entities are called White Label ATMs.
2. Non-bank ATM operators are authorised under the Payment & Settlement Systems Act, 2007 by the RBI.
3. White label ATMs accept cash deposits.
Which of the above statements is/are correct?Correct
All of the above are correct.
ATMs set up, owned and operated by non-banks are called White label ATMs (WLAs). Non-bank ATM operators are authorised under the Payment & Settlement Systems Act, 2007 by the Reserve Bank of India (RBI).
For a customer, using a WLA is just like using an ATM of any bank.
Until recently, these white label ATMs were not allowed to accept cash deposits, but the latest guidelines have now allowed these ATM operators to provide this service. They can also offer bill payment services through their ATMsIncorrect
All of the above are correct.
ATMs set up, owned and operated by non-banks are called White label ATMs (WLAs). Non-bank ATM operators are authorised under the Payment & Settlement Systems Act, 2007 by the Reserve Bank of India (RBI).
For a customer, using a WLA is just like using an ATM of any bank.
Until recently, these white label ATMs were not allowed to accept cash deposits, but the latest guidelines have now allowed these ATM operators to provide this service. They can also offer bill payment services through their ATMs -
Question 2 of 5
2. Question
1 pointsConsider the following statements regarding the Marginal Standing Facility (MSF).
1. MSF functions as the last resort for banks to borrow short-term funds over and above that available under the Liquidity Adjustment Facility Window (LAF).
2. MSF is an extraordinary rate at which banks can borrow money from the central bank at a much cheaper rate than repo rate.
Which of the above statements is/are incorrect?Correct
Only 2 is incorrect.
Marginal Standing Facility (MSF) was announced by the Reserve Bank of India (RBI) in its Monetary Policy (2011- 12) and refers to the penal rate at which banks can borrow money from the central bank over and above what is available to them through the LAF window.
MSF, being a penal rate, is always fixed above the repo rate.Incorrect
Only 2 is incorrect.
Marginal Standing Facility (MSF) was announced by the Reserve Bank of India (RBI) in its Monetary Policy (2011- 12) and refers to the penal rate at which banks can borrow money from the central bank over and above what is available to them through the LAF window.
MSF, being a penal rate, is always fixed above the repo rate. -
Question 3 of 5
3. Question
1 pointsInflation may result from
1. A reduction in the total productive capacity of the economy even as more and more people are employed
2. Oversupply of goods in the economy
Select the correct answer codeCorrect
Only 1 is correct.
In simple terms, inflation is basically too much money chasing too few goods, or excess demand chasing limited supply. In both these cases, the prices of goods rises faster as individual consumers bid process higher in order to get the good.
Excess supply is likely to bring prices down, not high.
If income rises faster, demand for goods and services will also rise. On the other hand, if the economy is unable to satisfy the increased demand, for e.g. due to poor infrastructure, lack of production etc, the higher income will spiral the prices upwards and lead to high inflation.Incorrect
Only 1 is correct.
In simple terms, inflation is basically too much money chasing too few goods, or excess demand chasing limited supply. In both these cases, the prices of goods rises faster as individual consumers bid process higher in order to get the good.
Excess supply is likely to bring prices down, not high.
If income rises faster, demand for goods and services will also rise. On the other hand, if the economy is unable to satisfy the increased demand, for e.g. due to poor infrastructure, lack of production etc, the higher income will spiral the prices upwards and lead to high inflation. -
Question 4 of 5
4. Question
1 pointsWhich of the following best describes ‘Anti-Dumping’ duty?
Correct
An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. Dumping is a process where a company exports a product at a price lower than the price it normally charges in its own home market.
Incorrect
An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. Dumping is a process where a company exports a product at a price lower than the price it normally charges in its own home market.
-
Question 5 of 5
5. Question
1 pointsWhen the Reserve Bank of India increases the repo rate by 50 basis points, which of the following likely to happen?
1. India’s GDP growth rate increases drastically
2. Foreign Institutional Investors may bring more capital into our country
3. Scheduled Commercial Banks may increase their lending rates
Select the correct answer codeCorrect
Only 3 is correct.
Increase in repo rate by RBI would largely lead to increase in lending rates of banksIncorrect
Only 3 is correct.
Increase in repo rate by RBI would largely lead to increase in lending rates of banks
Leaderboard: 30th Nov 2023 | Prelims Daily with Previous Year Questions
Pos. | Name | Entered on | Points | Result |
---|---|---|---|---|
Table is loading | ||||
No data available | ||||
UPSC 2024 countdown has begun! Get your personal guidance plan now! (Click here)