RBI Grade B Exam 2021 General Awareness MCQ Set-1

Q1. A Task Force on Sustainable Public Procurement (SPP) has been constituted by which Department?

Department of Economic Affairs
Department of Expenditure
Department of Revenue
Department of Financial Services

It is a process by which public authorities seek to achieve the appropriate balance of sustainable development i.e. economic, social and environmental.
- Review international best practices
- List the current status of SPP in India
- Prepare a draft Sustainable Procurement Action Plan
- Recommend an initial set of categories where SPP can be implemented

Q2. After the amalgamation of ten Public Sector Banks, which among the following bank is not in existence?

Corporation bank
Bank of India
Union bank of India
Indian bank

Q3. Which among the following is correct regarding BASEL III norms in India?

It was implemented in India in 2019.
It will be implemented in India in 2021.
It will be implemented in India in 2023.
RBI has rejected the implementation.

Implementation of Basel-III were deferred by a year to January 2023, due to Covid-19 pandemic.
It is a set of financial reforms that was developed by the Basel Committee on Banking Supervision (BCBS).
Its aim is strengthening regulation, supervision, and risk management within the banking industry.
Minimum capital requirements for banks is 4.5% of common equity (Currently 2% under Basel II).

Q4. Production-linked incentive scheme is applicable on which among the following sectors?

Electronic products
Automobile components
Pharmaceutical drugs
Food products
Telecom products

Except 2
Except 4
Except 5
Applicable on all

Q5. Parliament passed Vivad se Vishwas Act. It is releated to which type of taxes?

Direct tax
Indirect tax
Wealth tax
Applicable on all types of teaxes

The Act provides an opportunity to taxpayers to settle direct tax disputes by paying due taxes with complete waiver of interest and penalty

Q6. Reserve Bank of India has introduced a separate channel called Fully Accessible Route (FAR). What is the main purpose of it?

Foreigners can invest in govt securities with 10% limit
NRIs can invest in govt securities with 10% limit
Foreigners can invest in govt securities without any ceilings.
NRIs can invest in govt securities without any ceilings.

Under this route, non-resident investors can invest in specified government securities without any investment ceilings.
These securities attract no foreign portfolio investor (FPI) limits.
FPI limit in all other G-secs is 6%

Q7. The national income in India is released by:

Department of Economic Affairs
The National Statistical Office (NSO)
National Income Committee
Indian Statistical Institute

Q8. GDP deflator is an often cited term in economic discussion
What does it relate to?

Evaluates inflation by taking into account the GDP of the country
Shows real GDP growth on the basis of current production
The GDP deflator excludes services while Consumer Price index includes it
None of the above

GDP deflator is an index of price changes of goods and services included in GDP. It is a price index which is calculated by dividing the nominal GDP in a given year by the real GDP for the same year and multiplying it by 100
It includes goods and services
It is comprehensive since it takes into account the entire GDP

This ratio helps show the extent to which the increase in gross domestic product has happened on account of higher prices rather than increase in output.

Q9. Consider the following statements related to Gross National Product (GNP):
A. GNP is defined as the sum of GDP and Net factor Income from Abroad
B. In some cases GNP can be less than GDP as well
Which of the above is correct?