Static Quiz 14 April 2025 (Indian Economy)
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Static Quiz 14 April 2025 (Indian Economy) For UPSC Exam
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1. Question
With reference to the term ‘Bad Bank’ seen sometimes in news, which of the following statements is correct about Bad Banks?
CorrectCorrect Answer: (b) Bad banks help commercial banks to resolve their bad loans
Explanation:
A Bad Bank is an entity that takes over the bad loans (non-performing assets) of commercial banks. It helps banks clean up their balance sheets and focus on normal banking operations. It does not take deposits or lend money like a typical bank.IncorrectCorrect Answer: (b) Bad banks help commercial banks to resolve their bad loans
Explanation:
A Bad Bank is an entity that takes over the bad loans (non-performing assets) of commercial banks. It helps banks clean up their balance sheets and focus on normal banking operations. It does not take deposits or lend money like a typical bank. - Question 2 of 5
2. Question
With reference to term ‘White Good’ seen sometime in news, which of the following statements is correct
CorrectCorrect Answer: (a) White goods are big consumer appliances which traditionally were available only in white colour
Explanation:
White goods include large household appliances like refrigerators, washing machines, air conditioners, etc. They were traditionally manufactured in white enamel finish, hence the term.IncorrectCorrect Answer: (a) White goods are big consumer appliances which traditionally were available only in white colour
Explanation:
White goods include large household appliances like refrigerators, washing machines, air conditioners, etc. They were traditionally manufactured in white enamel finish, hence the term. - Question 3 of 5
3. Question
Which of the following statements is true about the term ‘Roll over’ related to Economy, seen sometimes in news?
CorrectCorrect Answer: (b) It is the practice of refinancing of debt with payment of additional fee
Explanation:
Rollover in the financial context means extending the term of a loan by repaying the old loan with a new one. It often involves an extra fee and interest adjustment. High rollover risk exists when it’s uncertain whether debt can be refinanced.IncorrectCorrect Answer: (b) It is the practice of refinancing of debt with payment of additional fee
Explanation:
Rollover in the financial context means extending the term of a loan by repaying the old loan with a new one. It often involves an extra fee and interest adjustment. High rollover risk exists when it’s uncertain whether debt can be refinanced. - Question 4 of 5
4. Question
The’ Positive Pay Mechanism’ introduced by Reserve Bank of India means –
CorrectCorrect Answer: (c) To augment customer safety in cheque payments with commercial banks
Explanation:
The RBI’s Positive Pay System is meant to prevent cheque fraud. Under this, the issuer of a cheque submits key details (amount, date, beneficiary) electronically to the bank. The bank cross-verifies before processing the cheque.IncorrectCorrect Answer: (c) To augment customer safety in cheque payments with commercial banks
Explanation:
The RBI’s Positive Pay System is meant to prevent cheque fraud. Under this, the issuer of a cheque submits key details (amount, date, beneficiary) electronically to the bank. The bank cross-verifies before processing the cheque. - Question 5 of 5
5. Question
Which of the following statements is Incorrect regarding the ‘Border Adjustment Tax’ proposed recently
CorrectCorrect Answer: (a) It is a duty to be levied on sin goods, proceeds of which would be used for Border Area Development (Incorrect Statement)
Explanation:
Border Adjustment Tax (BAT) is a tax on imported goods aligned with the destination-based principle of taxation. It is not related to sin goods or border area development. It aims to give domestic goods an even playing field.IncorrectCorrect Answer: (a) It is a duty to be levied on sin goods, proceeds of which would be used for Border Area Development (Incorrect Statement)
Explanation:
Border Adjustment Tax (BAT) is a tax on imported goods aligned with the destination-based principle of taxation. It is not related to sin goods or border area development. It aims to give domestic goods an even playing field.
