Correct Answer : Option (C) - Seven

Correct Answer : Option (D) - 1850s

Roads are an older means of transport than railways but due to the advantage of a larger transport capacity, the railways got an edge over roadways in long distance freight and passenger transport during the mid-twentieth century. The supremacy of railways over roads, however, started decreasing since l850s. A number of factors have been responsible for the increasing importance of roads in long distance freight and passenger traffic during the latter half of the past century.

Correct Answer : Option (B) - International finance insitution

The International Finance institution has issued rupee bonds for the first time in international market. They are also known as Masala Bonds.

Correct Answer : Option (A) - Homi Jehangir Bhabha

The headquarters of BARC is located at Trombay, Mumbai. It was established in 1954. It was founded by Homi Jehangir Bhabha.

Correct Answer : Option (C) - Unified Payment Interface

UPI stands for Unified Payment Interface. This application allows users to transfer money between bank accounts. It is launched by NPCI.

Correct Answer : Option (C) - Tiger

The logo of the Reserve Bank of India comprises a tiger walking underneath a palm tree. When RBI was created, it was decided that the reverse of Double Mohur, the Lion and Palm design should beused as the emblem of RBI. The last minute modification was made introducing Tiger instead of Lion

Correct Answer : Option (B) - accept sound collateral

The best way for a bank to avoid loss is to accept only sound collateral. In lending agreements, collateral is a borrower’s pledge of specific property to a lender, to secure repayment of a loan. The collateral serves as protection for a lender against a borrower’s default - that is, any borrower failing to pay the principal and interest under the terms of a loan obligation. If a borrower does default on a loan (due to insolvency or other event), that borrower forfeits (gives up) the property pledged as collateral - and the lender then becomes the owner of the collateral. In a typical mortgage loan transaction, for instance, the real estate being acquired with the help of the loan serves as collateral. Should the buyer fail to pay the loan under the mortgage loan agreement, the ownership of the real estate is transferred to the bank. The bank uses a legal process called foreclosure to obtain real estate from a borrower who defaults on a mortgage loan. Collateral, especially within banking, traditionally refers to secured lending (also known as asset-based lending).

Correct Answer : Option (D) - 200 crores of rupees

Originally, the assets of the Issue Department were to consist of not less than two-fifths of gold coin, gold bullion or sterling securities provided the amount of gold was not less than Rs. 40 crore in value. The remaining three-fifths of the assets might be held in rupee coins, Government of India rupee securities, eligible bills of exchange and promissory notes payable in India. Due to the exigencies of the Second World War and the post-war period, these provisions were considerably modified. Since 1957, the Reserve Bank of India is required to maintain gold and foreign exchange reserves of Rs. 200 crore (2 billion), of which at least Rs. 115 crore should be in gold and Rs. 85 crore in the form of Government Securities. The system as it exists today is known as the minimum reserve system.

Correct Answer : Option (A) - Increase in money supply

In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time. Economists generally agree that high rates of inflation and hyperinflation are caused by an excessive growth of the money supply. Low or moderate inflation may be attributed to fluctuations in real demand for goods and services, or changes in available supplies such as during scarcities, as well as to growth in the money supply. However, the consensus view is that a long sustained period of inflation is caused by money supply growing faster than the rate of economic growth.

Correct Answer : Option (B) - 1994

A currency is deemed convertible on the current account if it can be freely converted into other convertible currencies for purchase and sale of commodities and services. For example, if the rupee is convertible on the current account an Indian firm should be able to freely convert rupee into Yen (JPY) to purchase from a Japanese Company. Since August 20, 1994, the rupee has been made a freely convertible currency on current account.