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July 16, 2026

Revision Series | Economy | Miscellaneous | 77

January 17, 2024
Consider the following statements:
1. Risk-weighted assets are used to determine the minimum amount of capital a bank must hold in relation to the risk profile of its lending activities and other assets.
2. The capital requirement is based on a risk assessment for each type of bank asset.
Select the correct statement(s) using the codes given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) None of the above
Show Answer

Answer: (C)

Which of the following is/are correct regarding the Financial Action Task Force:
1. It is an inter-governmental Body.
2. India joined with ‘observer’ status in 2006 and became a full member of FATF in 2010.
3. FATF Plenary is the decision-making body of the FATF.
Select the answer using the codes given below:
  • (A) 1 and 2 only
  • (B) 1 and 3 only
  • (C) 2 and 3 only
  • (D) 1, 2 and 3
Show Answer

Answer: (D)

Which of the following statements is/are correct?
1. Non-Banking Financial Company (NBFC) is also referred to as ‘shadow banks’.
2. The deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is  available to depositors of NBFCs, unlike in case of banks.
Select the answer using the codes given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2
Show Answer

Answer: (A)

Which of the following statements is/are correct?
1. Centre for Advanced Financial Research and Learning (CAFRAL) is an independent body established by the Reserve Bank of India.
2. It conducts research and provides insights into India’s financial sector, including NBFCs.
Select the answer using the codes given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2
Show Answer

Answer: (D)

Consider the following statements-
1. Tax Avoidance is an action taken to lessen tax liability and maximize after-tax income and is legal.
2. Tax Evasion is a fraudulent and illegal approach.
Choose the incorrect statements using the code below-
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) None of the above
Show Answer

Answer: D

Consider the following statements regarding Sovereign Green Bonds:
1. Government of India has raised INR 5,000 crore through the first issue of Green Bonds.
2. The proceeds of these bonds are used only for environmentally conscious, climate-resilient projects.
Select the correct answer using the code given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 & 2
  • (D) Neither 1 nor 2
Show Answer

Answer: C

Tax evasion is the illegal act of not paying owed taxes to the Government by?
  • (A) Under-reporting income.
  • (B) Hiding money offshore.
  • (C) Inflating deductions to reduce tax liability.
  • (D) All of the above.
Show Answer

Answer: (D)

Consider the following statements:
1.The draft Development Plan for the Shimla Planning Area 2041 was published in 2022.
2. Supreme Court approved the Shimla Development Plan 2041 that is aimed at regulating construction activities in Shimla.
Select the correct statement(s) using the code given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 & 2
  • (D) Neither 1 nor 2
Show Answer

Answer: C

India Finance Report, 2023 was released by which of the following?
  • (A) Union Ministry of Finance.
  • (B) Centre for Advanced Financial Research and Learning.
  • (C) Centre for Monitoring Indian Economy.
  • (D) NITI Aayog.
Show Answer

Answer: (B)

Ministry of Social Justice and Empowerment highlighted the Pradhan Mantri Anusuchit Jaati Abhuyday Yojana (PM-AJAY) is a comprehensive scheme amalgamating three Centrally Sponsored Schemes, including?
1. Pradhan Mantri Adarsh Gram Yojana (PMAGY).
2. Special Central Assistance to Scheduled Castes Sub Plan.
3. Babu Jagjivan Ram Chhatrawas Yojana (BJRCY).
Select the correct statement(s) using the code given below:
  • (A) 1 and 3 only.
  • (B) 2 and 3 only.
  • (C) 1 and 2 only.
  • (D) 1, 2 and 3.
Show Answer

Answer: D

  • Recently, the Ministry of Social Justice and Empowerment highlighted the Pradhan Mantri Anusuchit Jaati Abhuyday Yojana (PM-AJAY) is a comprehensive scheme amalgamating three Centrally Sponsored Schemes, including Pradhan Mantri Adarsh Gram Yojana (PMAGY), Special Central Assistance to Scheduled Castes Sub Plan (SCA to SCSP), and Babu Jagjivan Ram Chhatrawas Yojana (BJRCY).
  • This initiative, launched in the fiscal year 2021-22, aims to uplift Scheduled Caste (SC) communities by generating employment opportunities through skill development, income-generating schemes, and various initiatives.

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