Podcast
Questions and Answers
In a mixed economy like India's, which combination of sectors typically drives economic activity?
In a mixed economy like India's, which combination of sectors typically drives economic activity?
- Dominantly agriculture, overshadowing manufacturing and services.
- Equal collaboration between private and public sectors, complemented by agriculture, manufacturing, and services. (correct)
- Primarily the public sector with minimal private involvement.
- Exclusive focus on service industries, neglecting agriculture and manufacturing.
How does the Reserve Bank of India (RBI) use the repo rate to influence the Indian economy?
How does the Reserve Bank of India (RBI) use the repo rate to influence the Indian economy?
- By determining the prices of essential commodities like food and fuel.
- By setting the income tax rates for individuals and corporations.
- By adjusting the rate at which it lends money to commercial banks, influencing the overall money supply. (correct)
- By directly controlling government spending.
Which of the following best describes the purpose of Priority Sector Lending (PSL) in India?
Which of the following best describes the purpose of Priority Sector Lending (PSL) in India?
- To ensure that all bank loans are of high value and generate maximum profit.
- To direct bank lending towards specific sectors of the economy that may not otherwise receive sufficient credit. (correct)
- To allow banks to freely decide where to allocate their lending portfolio.
- To encourage banks to lend primarily to large corporations and urban areas.
How do Non-Performing Assets (NPAs) typically affect the banking sector in India?
How do Non-Performing Assets (NPAs) typically affect the banking sector in India?
Which initiative is primarily focused on promoting financial inclusion in India?
Which initiative is primarily focused on promoting financial inclusion in India?
If the RBI increases the Cash Reserve Ratio (CRR), how is the banking system likely to be affected?
If the RBI increases the Cash Reserve Ratio (CRR), how is the banking system likely to be affected?
What is the primary goal of the Pradhan Mantri Mudra Yojana (PMMY)?
What is the primary goal of the Pradhan Mantri Mudra Yojana (PMMY)?
How does foreign trade generally affect a country's balance of payments?
How does foreign trade generally affect a country's balance of payments?
Which of the following committees or commissions was replaced by NITI Aayog?
Which of the following committees or commissions was replaced by NITI Aayog?
What is the main objective of the Atal Pension Yojana (APY)?
What is the main objective of the Atal Pension Yojana (APY)?
How does the Statutory Liquidity Ratio (SLR) impact a bank's operations?
How does the Statutory Liquidity Ratio (SLR) impact a bank's operations?
Which of the following is NOT typically considered a function of the Reserve Bank of India (RBI)?
Which of the following is NOT typically considered a function of the Reserve Bank of India (RBI)?
Which of the following factors is most likely to cause inflation in an economy?
Which of the following factors is most likely to cause inflation in an economy?
What is the primary goal of the Pradhan Mantri Awas Yojana (PMAY)?
What is the primary goal of the Pradhan Mantri Awas Yojana (PMAY)?
How might a significant decrease in the GDP growth rate typically affect the stock market?
How might a significant decrease in the GDP growth rate typically affect the stock market?
Which of the following international norms are related to banking regulations?
Which of the following international norms are related to banking regulations?
In the context of banking and finance, what does the term 'repo rate' refer to?
In the context of banking and finance, what does the term 'repo rate' refer to?
Which government scheme is aimed at providing accident insurance coverage?
Which government scheme is aimed at providing accident insurance coverage?
Which of the following is the best description of fiscal policy?
Which of the following is the best description of fiscal policy?
What does the term SLR (Statutory Liquidity Ratio) refer to in the context of banking?
What does the term SLR (Statutory Liquidity Ratio) refer to in the context of banking?
Flashcards
Mixed Economy
Mixed Economy
An economy with both private and public sectors.
Key Economic Sectors
Key Economic Sectors
Key areas include agriculture, manufacturing, and services.
NITI Aayog
NITI Aayog
Replaced the Planning Commission for economic planning.
Reserve Bank of India (RBI)
Reserve Bank of India (RBI)
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Cash Reserve Ratio (CRR)
Cash Reserve Ratio (CRR)
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Statutory Liquidity Ratio (SLR)
Statutory Liquidity Ratio (SLR)
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Non-Performing Assets (NPAs)
Non-Performing Assets (NPAs)
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Repo Rate
Repo Rate
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Reverse Repo Rate
Reverse Repo Rate
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Priority Sector Lending (PSL)
Priority Sector Lending (PSL)
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Basel Norms
Basel Norms
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Financial Inclusion
Financial Inclusion
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Pradhan Mantri Jan Dhan Yojana (PMJDY)
Pradhan Mantri Jan Dhan Yojana (PMJDY)
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Pradhan Mantri Mudra Yojana (PMMY)
Pradhan Mantri Mudra Yojana (PMMY)
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Pradhan Mantri Awas Yojana (PMAY)
Pradhan Mantri Awas Yojana (PMAY)
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Atal Pension Yojana (APY)
Atal Pension Yojana (APY)
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Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
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Pradhan Mantri Suraksha Bima Yojana (PMSBY)
Pradhan Mantri Suraksha Bima Yojana (PMSBY)
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Sukanya Samriddhi Yojana (SSY)
Sukanya Samriddhi Yojana (SSY)
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Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)
Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)
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Study Notes
Indian Economy
- India's economy is mixed, incorporating both private and public sectors.
- Key sectors include agriculture, manufacturing, and services.
- Economic planning once used Five-Year Plans.
- NITI Aayog has replaced the Planning Commission.
- GDP growth rate indicates economic performance.
- Inflation affects purchasing power and monetary policy.
- The Reserve Bank of India (RBI) manages monetary policy.
- The Ministry of Finance handles fiscal policy.
- Taxation involves direct (income tax) and indirect (GST) taxes.
- Government schemes aim to boost financial inclusion and development.
- The banking sector is crucial for economic growth.
- The stock market mirrors investor sentiment and economic health.
- Foreign trade influences the balance of payments.
- Sustainable development is a key consideration.
Banking and Finance
- Banks accept deposits and offer loans.
- Public Sector Banks (PSBs) are government-owned.
- Private Sector Banks are privately owned.
- Foreign Banks in India operate under RBI regulations.
- Regional Rural Banks (RRBs) serve rural areas.
- Cooperative Banks cater to specific communities or sectors.
- The RBI acts as the central bank and regulates the banking sector.
- Monetary Policy seeks to control inflation and foster growth.
- The repo rate is the rate at which RBI lends to banks.
- The reverse repo rate is the rate at which the RBI borrows from banks.
- The Cash Reserve Ratio (CRR) is the percentage of deposits banks must hold with the RBI.
- The Statutory Liquidity Ratio (SLR) is the percentage of deposits banks must hold in liquid assets.
- Priority Sector Lending (PSL) mandates bank lending to specific sectors.
- Basel norms constitute international banking regulations.
- Non-Performing Assets (NPAs) are loans with doubtful repayment.
- Financial inclusion aims to provide banking access for all.
Current Affairs
- Includes recent government policies and initiatives
- Includes major economic events and their impact
- Includes important appointments in government and regulatory bodies
- Includes developments in international relations
- Includes updates on national and international awards
- Includes sports events and achievements
- Includes new technological advancements
- Includes environmental issues and initiatives
- Includes changes in banking and finance regulations
- Includes key economic indicators and reports
- Includes visits by foreign dignitaries
- Includes cultural events and festivals
- Includes important dates and anniversaries
General Knowledge
- Includes the history of India
- Includes Geography of India and the world
- Includes Indian Polity and Constitution
- Includes Science and Technology
- Includes books and authors
- Includes important inventions and discoveries
- Includes current leaders and heads of organizations
- Includes static GK related to banking and finance
- Includes awareness of social and environmental isssues
- Includes knowledge of famous landmarks and historical sites
Computer Awareness
- Includes the basics of computer hardware and software
- Includes operating systems
- Includes MS Office
- Includes Internet and networking
- Includes cyber security
- Includes computer abbreviations
- Includes the history of computers
- Includes database management systems
- Includes basic programming concepts
- Includes knowledge of computer viruses and malware
Sports
- Includes knowledge of popular sports
- Includes important tournaments and events
- Includes famous sports personalities
- Includes recent sports achievements
- Includes rules and regulations of major sports
- Includes venues of upcoming sports events
- Includes the history of sports in India
- Includes sports awards and honors
- Includes acronyms and terms related to sports
- Includes current affairs related to sports
Awards and Honors
- National awards include Bharat Ratna, Padma Vibhushan, Padma Bhushan, Padma Shri
- International awards include Nobel Prize, Pulitzer Prize, Booker Prize
- Sports awards include Rajiv Gandhi Khel Ratna, Arjuna Award, Dronacharya Award
- Literary awards include Jnanpith Award, Sahitya Akademi Award
- Film awards include National Film Awards, Filmfare Awards
- Awards for science and technology
- Awards for environmental conservation
- Awards for social service
- Banking and finance awards
- Recent recipients of these awards
Government Schemes
- Pradhan Mantri Jan Dhan Yojana (PMJDY) promotes financial inclusion.
- Pradhan Mantri Mudra Yojana (PMMY) provides funding for small businesses.
- Pradhan Mantri Awas Yojana (PMAY) focuses on affordable housing.
- Atal Pension Yojana (APY) is a pension scheme for the unorganized sector.
- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a life insurance scheme.
- Pradhan Mantri Suraksha Bima Yojana (PMSBY) is an accident insurance scheme.
- Sukanya Samriddhi Yojana (SSY) is a savings scheme for the girl child.
- Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) ensures rural employment.
- Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM) exists.
- Smart City Mission exists.
- Ayushman Bharat exists.
Countries and Capitals
- Knowledge of countries around the world is included.
- Capitals of different countries are included.
- Currencies of different countries are included.
- Important facts about countries are included (e.g. major industries, geographical features).
- Understanding of international relations and organizations is included.
- Current political leaders of major countries are included.
- Economic indicators of various countries are included.
- Cultural aspects of different countries are included.
- Historical events related to countries are included.
- Geographic location and neighboring countries are included.
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