Indian Economy

Q: In which year was the Reserve Bank of India (RBI) formally established?

Correct Answer: Option B (1935). The RBI was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934.

Q: In which year was the Securities and Exchange Board of India (SEBI) given statutory status?

Correct Answer: Option A (1992). SEBI was established as a non-statutory body in 1988 and given statutory powers on January 30, 1992.

Q: The National Bank for Agriculture and Rural Development (NABARD) was established in which year?

Correct Answer: Option A (1982). NABARD was established on the recommendations of the B. Sivaraman Committee to implement the National Bank for Agriculture and Rural Development Act 1981.

Q: In which year did NITI Aayog officially replace the Planning Commission of India?

Correct Answer: Option C (2015). The NITI Aayog is the premier policy 'Think Tank' of the Government of India, formed via a resolution of the Union Cabinet on January 1, 2015.

Q: The Life Insurance Corporation of India (LIC) was created through an Act of Parliament in which year?

Correct Answer: Option A (1956). LIC was established on September 1, 1956, when the Parliament of India passed the Life Insurance of India Act that nationalized the insurance industry in India.

30 Questions

Practice Indian Economy questions with answers and step-by-step solutions. These problems are curated from recent campus placement test papers (TCS, Infosys, Wipro, Cognizant, Accenture) and competitive government exams (SSC CGL, Bank PO, RRB NTPC, UPSC).

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Indian Economy: Reference Context & Data Shared for questions below

Directions & CaseletDirections: Read each question carefully and select the most appropriate option. These questions follow the direct, fact-intensive pattern of Banking (IBPS, SBI, RBI) and regulatory examinations.

Banking Exam General Awareness: Indian Economy (30 Questions)

Q16

In which year was the Reserve Bank of India (RBI) formally established?

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Q17

In which year was the Securities and Exchange Board of India (SEBI) given statutory status?

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Q18

The National Bank for Agriculture and Rural Development (NABARD) was established in which year?

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Q19

In which year did NITI Aayog officially replace the Planning Commission of India?

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Q20

The Life Insurance Corporation of India (LIC) was created through an Act of Parliament in which year?

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Indian Economy

In which year was the Reserve Bank of India (RBI) formally established?

Community Discussion & Shortcut Formulas

In which year was the Securities and Exchange Board of India (SEBI) given statutory status?

Community Discussion & Shortcut Formulas

The National Bank for Agriculture and Rural Development (NABARD) was established in which year?

Community Discussion & Shortcut Formulas

In which year did NITI Aayog officially replace the Planning Commission of India?

Community Discussion & Shortcut Formulas

The Life Insurance Corporation of India (LIC) was created through an Act of Parliament in which year?

Community Discussion & Shortcut Formulas