NABARD Economic and Social Issues MCQ’s (Set – 3)

Mentor for Bank Exams

Dear Aspirants,
Welcome to Mentor for Bank Exams. NABARD Grade A Recruitment for 2018 is announced and Prelims Exam is scheduled on 12th May 2018. As you know that exam is approaching, you need to be very focused on practice more and more questions to maximize your score. The Economic and Social Issues Section carries 40 marks. For the clear idea of NABARD Prelims Exam, go through this NABARD Economic and Social Issues MCQ’s daily.

1. What is the percentage of female workforce in our country as per the 2011 Census?
a) 18.4%
b) 22.3%
c) 24.4%
d) 25.5%
e) 27.5%
Answer: D)
Explanation: The number of female workers stands at 127,220,248 which is 25.5% of total working population.

2. Which state has launched a Ama Gaon, Ama Vikas (Our Village, our development) scheme to reach out to the people in rural areas and involve themselves in the developmental activities?
a) Uttar Pradesh
b) Bihar
c) Andhra Pradesh
d) Odisha
e) Madhya Pradesh
Answer: D)
Explanation: Odisha has launched a Ama Gaon, Ama Vikas (Our Village, our development) to reach out to the people in rural areas and involve themselves in the developmental activities. CM flagged off wi-fi enabled mobile video wall vans through which people can send their grievances directly to the CM’s office. With this initiative the administration will solve the the grievances of the people quickly.

3. Which of the following rates is closest to Marginal standing facility rate?
a) Liquid adjustment facility rate
b) Repo rate
c) SLR
d) Reverse repo rate
e) Call money rate
Answer: A)
Explanation: LAF is a monetary policy to which allows banks to borrow money through repurchase agreements. MSF refers to the penal rate at which banks can borrow money from the central bank over and above what is available to them through the LAF window. So the two are practically the same

4. Under Union Budget 2018, Government has allocated how much amount for rural infrastructure?
a) Rs 10 lakh crore
b) Rs 11 lakh crore
c) Rs 12.6 lakh crore
d) Rs 14.3 lakh crore
e) None of the above
Answer: D)
Explanation: Arun Jaitley said that the government has allocated ₹14.3 lakh crore to be spent for rural infrastructure. He said every block with more than 50% ST population and at least 20,000 tribal people will have a model residential school by 2022. He added social security will be provided to aged, widows, and orphaned children.

5. An Non-Resident Ordinary Rupee Account for non-resident Indians has a limit of ___.
a) $50000
b) $1 million
c) $100000
d) $2.5 million
e) $1.5 million
Answer: B)
Explanation: An Non-Resident Ordinary Rupee Account has a limit of $1 million. When an Indian national or person of Indian origin residing in India leaves India for a foreign country for taking up employment, business or vocation outside India, or for any other purpose, indicating his intention to say outside India permanently or for an indefinite period, he becomes a person resident outside India. His bank account, if any, in India is designated as an Ordinary Non-resident Account (NRO Account).

6. According to the 2011 Census, the population of India was 121 crores with a decadal growth rate of
a) 9.82%
b) 12.3%
c) 15.19%
d) 17.64%
e) 20.21%
Answer: D)
Explanation: As per the provisional report published during 31st March, 2011, India showed a decadal growth rate of 17.64 % for the entire population as compared to 21.15 % in Census 2001. The report says, during the last decade of 2001 to 2011, population in India grew by 181 million.

7. The term FSDC which is used in financial sectors stands for
a) Financial Security and Development Council
b) Financial Stability and Development Council
c) Fiscal Security and Development Convention
d) Fiscal Stability and Development Council
e) All of the above
Answer: B)
Explanation: Financial Stability and Development Council (FSDC) is an apex-level body constituted by the government of India. The idea to create such a super regulatory body was first mooted by the Raghuram Rajan Committee in 2008.

8. ____ is a situation in which the inflation rate is persistently high, but demand remains stagnant and unemployment is high.
a) Biflation
b) Agflation
c) Deflation
d) Hyperinflation
e) Stagflation
Answer: E)
Explanation: Stagflation is a situation in which the inflation rate is persistently high combined with high unemployment and stagnant demand. It's a merger of stagnation and inflation. The economic growth of a country slows due to stagflation. It raises a dilemma for economic policy, since actions designed to lower inflation may exacerbate unemployment, and vice versa.

9. "India Development Update" is released by _________.
a) NITI Aayog
b) World Bank
c) International Monetary Fund
d) Department Economic Affairs
e) Central Statistics Office
Answer: B)
Explanation: According to the World Bank's "India Development Update", India’s economic growth will accelerate to 7.3% in 2018-19, from 6.7% in 2017-2018. The World Bank said sustaining a growth rate higher than 7.5% will require contributions from all domestic sectors and support from the global economy. The report also highlights several challenges facing the Indian economy that need attention.

10. Name the premier institution that is taking care of the financial needs of importers and exporters of our country which was established in the year 1981.
a) EXPO Bank
b) Export Import Bank (EXIM)
c) Merchant Bank
e) None of the above
Answer: B)
Explanation: Export–Import Bank of India is the premier export finance institution in India, established in 1982 under Export-Import Bank of India Act 1981. Since its inception, Exim Bank of India has been both a catalyst and a key player in the promotion of cross border trade and investment.