Budget, RBI, banking, inflation, economic indicators
Questions & Answers
Test your understanding of this current affair.
11
What does 'Core Inflation' measure by excluding volatile items from headline inflation calculations?
Answer:
Inflation excluding food and energy (fuel) items, reflecting underlying long-term price trends
12
Which statutory authority in India regulates and supervises pension funds and subscriber interests under the National Pension System (NPS)?
Answer:
Pension Fund Regulatory and Development Authority (PFRDA)
13
What is the primary purpose of the 'Prompt Corrective Action (PCA)' framework for Non-Banking Financial Companies (NBFCs)?
Answer:
To strengthen supervisory oversight and trigger timely corrective measures for financially distressed NBFCs
14
Which international economic forum holds its annual meeting in Davos, Switzerland, bringing together global leaders and central bankers?
Answer:
World Economic Forum (WEF)
15
What does 'Open Market Operations (OMOs)' conducted by the Reserve Bank of India involve?
Answer:
The outright purchase or sale of government securities by the central bank in the open market to regulate rupee liquidity
16
Which financial statement released by the central government outlines actual tax collections, expenditures, and fiscal outcomes of the previous year?
Answer:
Union Budget Receipts and Expenditure Accounts / Controller General of Accounts (CGA) Fiscal Data
17
What is the primary objective of the 'PM SVANidhi' scheme launched to support street vendors financially?
Answer:
To provide affordable working capital micro-loans to urban street vendors to resume businesses affected by economic disruptions
18
Which index compiled by the Reserve Bank of India tracks digital payment adoption and penetration across regions?
Answer:
RBI Digital Payments Index (RBI-DPI)
19
What does 'Tobin Tax' or financial transaction tax conceptually propose in global economic policy?
Answer:
A small excise tax on short-term currency conversions and speculative financial transactions to curb market volatility
20
Which international organization publishes the annual 'Global Financial Stability Report (GFSR)' reviewing global capital markets?
Answer:
International Monetary Fund (IMF)
21
What is the primary function of the 'National Asset Reconstruction Company Limited (NARCL)' in India's banking sector?
Answer:
To aggregate and resolve stressed bad loans (NPAs) from commercial banks, cleaning up balance sheets
22
Which index published by the Reserve Bank of India tracks consumer inflation expectations for three months and one year ahead?
Answer:
Inflation Expectations Survey of Households (IESH)
23
What does 'Securitization' signify in banking and financial asset management?
Answer:
The process of pooling various types of contractual debt and selling them as standardized securities to investors
24
Which international organization publishes the annual 'World Economic Outlook' report featuring global growth forecasts?
Answer:
International Monetary Fund (IMF)
25
What is the primary objective of India's 'Open Network for Digital Commerce (ONDC)' initiative in the economy?
Answer:
To promote open networks for all aspects of exchange of goods and services over digital or electronic networks, democratizing e-commerce
26
Which index compiled by the Reserve Bank of India tracks the confidence and sentiment of corporate manufacturing sector firms?
Answer:
Industrial Outlook Survey (IOS)
27
What does 'Quantitative Easing (QE)' signify in central bank unconventional monetary policy tools?
Answer:
Large-scale asset purchases by a central bank to inject liquidity into the economy when interest rates are already near zero
28
Which international organization publishes the annual 'Global Competitiveness Report' evaluating economic productivity?
Answer:
World Economic Forum (WEF)
29
What is the primary objective of India's 'Ayushman Bharat Digital Mission (ABDM)' in healthcare economics?
Answer:
To develop the backbone necessary to support the integrated digital health infrastructure of India, ensuring interoperability
30
Which index compiled by the Reserve Bank of India tracks consumer confidence regarding employment, price levels, and economic outlook?
Answer:
Consumer Confidence Survey (CCS)