Question 1. Consider the following statements regarding the monetary policy committee:
1. The Ministry of Finance is entrusted with the responsibility of conducting monetary policy in India with the primary objective of maintaining price stability while keeping the aim of growth.
2. In the six-member MPC, each member has a single vote and the Governor has a casting vote.
3. RBI determines the inflation target in terms of the Consumer Price Index (CPI), once every five years.
How many of the above-given statements are correct?
A. One only
B. Two only
C. All three
D. None
Question 2. An increase in repo rate might lead to which of the following?
1. Increase in the interest rates by banks
2. Increase in investments
3. High inflation
4. Increased Govt. expenditure
How many of the above options are correct?
A. One only
B. Two only
C. Three only
D. All four
Question 3. Which of the following organisations releases Global Plastic Outlook?
A. The Organisation for Economic Cooperation and Development (OECD)
B. United Nations Environment Programme (UNEP)
C. The United Nations Conference on Trade and Development (UNCTAD)
D. The United Nations Framework Convention on Climate Change
Question 4. Consider the following statements regarding Bima Sugam:
1. It’s an online platform where customers can choose a suitable insurance scheme from multiple options given by various companies.
2. Initially only Insurance of life will be met by Bima Sugam.
3. This project has been launched by the Insurance Regulatory and Development Authority of India (IRDAI)
How many of the above options are correct?
A. One only
B. Two only
C. Three only
D. All four
Question 5. Consider the following statements regarding the appointment of the Prime Minister:
1. Article 75 authorises the President of India to appoint the Prime Minister and the council of ministers on the advice of the Prime Minister.
2. The president appoints the leader of the largest party or coalition party in the Lok Sabha as the Prime Minister in case no single party secures a majority and asks him or her to seek a vote of confidence in the house within a week.
Select the correct statements using the codes given below:
A. Only 1
B. Only 2
C. Both 1 & 2
D. Neither 1 nor 2
For comprehensive answers and detailed explanations to these questions, please watch the video below: