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PYQ 1200 Q/A Part - 1
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Kerala PSC Indian Economy Book Study Materials Page 631
Book's First Pageele ted s 23.9 their needs. In case the firm defaults in 17. (d) Abenomics is the name given to a suite servicing the loans the LoU-issuing bank/ of measures introduced by the Japanese institution is supposed to compensate the Prime Minister Shinzo Abe after his lending banks/financial institutions. It December 2012 re-election to the post was in news by late February 2018 when he has held since 2007. Such measures a firm (led by Nirav Modi) was accused by a government to boost growth is not of a Rs. 11,500 crore borrowings from possible in the case of the recession-hit several overseas branches of the Indian economies of the Western world—the banks on the basis of a LoU issued by Japanese economy has an edge over them the Punjab National Bank (PNB) in the due to its low levels of inflation and fiscal name of his firm (Gitanjali). deficit. 12. (b) The idea was for the first time used by the 18. (d) SWIFT (Society for Worldwide GoI in the Union Budget 2011–12, but Interbank Financial Telecommunica- it was not borrowed from the Western tion) is a ‘messaging network’ that con- nations—this is an Indian idea. nects banks and financial institutions 13. (d) The agricultural provisions (i.e., the across the world. The letter of undertak- Agreement on Agriculture) of the WTO ings (LoUs) are communicated through have put a ceiling on the amount of farm it only by the banks/financial institutions subsidies (both direct and indirect) of across the globe. the member country—as they distort the 19. (d) As interest rate goes up the investment free market prices of farm goods. decreases because the cost of fund 14. (b) The BIPA is a kind of India alternative of increases. the ICSID (one of the World Bank group 20. (a) Demand deposits will have more entity). But it has no links either with the ICISD or IMF. By now, India has signed liquidity than the saving deposits as the such agreements with 82 countries. former includes the ‘current accounts’ of the firms (the most liquid deposit with 15. (c) NSEL (National Spot Exchange Ltd.) is the banks). promoted by a private firm (which owns it by 99 per cent) Financial Technologies 21. (b) This method is being used by the GoI India Ltd. and NAFED (National for the first time, though, it has been Agricultural Cooperative Marketing already used by the states (Andhra Federation of India Ltd.) for ‘spot trading’ Pradesh, Bihar, Gujarat, MP, Punjab, in commodities in India, operating since etc.). By late January 2016, the Ministry 2008. Other such bourses—the NCDEX of Railways used this method to award Spot and R-Next, are promoted by the contracts for development of 400 railway NSE and Reliance Capital, respectively. stations in the country. Though, the Since February 2012 ‘spot contracts’ are government has been discouraged by the being looked after by the Forward Market Vijay Kelkar Expert Committee (set up Commission (FMC)—regulated under on ‘Revisiting and Revitalising the PPP the Forward Contract (Regulation) Act, Model of Infrastructure Development’). 1952. The committee submitted its report in 16. (d) All of the statements are correct about January 2016 itself. the P-Notes. 22. (c) Both of the statements are correct.