Economy Mock Test, 27th April, 2024

CHASE ACADEMY
Near Vaivakawn Presbyterian Church

Aizawl, Mizoram
Contact: 8413829638/8794804104
PRELIMS MOCK TEST SERIES, 2024

CURRENT AFFAIRS - I
Time Allowed : 2 hours Maximum Marks : 200
INSTRUCTIONS
1. IMMEDIATELY AFTER THE COMMENCEMENT OF THE EXAMINATION, YOU SHOULD CHECK THAT THIS TEST
BOOKLET DOES NOT HAVE ANY UNPRINTED OR TORN OR MISSING PAGES OR ITEMS, ETC. IF SO, GET IT
REPLACED BY A COMPLETE TEST BOOKLET.
2. This Test Booklet contains 100 questions. Each item comprises four responses (answers). You will select
the response which you want to mark on the Answer Sheet. In case you feel that there is more than one
correct response, mark the response which you consider the best. In any case, choose ONLY ONE response
for each item.
3. You have to mark all your responses ONLY on the OMR Sheet provided to you.
4. All questions carry equal marks.THERE WILL BE PENALTY FOR WRONG ANSWERS MARKED BY A CANDIDATE
IN ALL THE QUESTIONS.
i. There are four alternatives for the answer to every question. For each question for which a wrong
answer is given by the candidate, one-third of the marks assigned to that question will be deducted
as penalty.
ii. If a candidate gives more than one answer, it will be treated as a wrong answer even if one of the
given answers happens to be correct and there will be same penalty as above to that question.
iii. If a question is left blank, i.e., no answer is given by the candidate, there will be no penalty for that
question.
1. With reference to the Indian economy, the Current Account Deficit can be increased by which of the
following?
1. Increase in merchandise imports
2. Increase in external commercial borrowings
3. Decrease in foreign assets of banks
4. Lower net invisible receipts
5. Increase in crude oil prices
Select the correct answer using the given code below.
A. 1, 2 and 4 only
B. 1, 4 and 5 only
C. 2, 3 and 5 only
D. 1, 2, 4 and 5 only
Answer: B
The Current Account measures the flow of goods services and investments into and out of the country. It is a
deficit if the value of the goods and services a nation imports exceeds the value of those exported. The current
account includes net income, including interest and dividends and transfer like foreign aid. The following can
be the main reasons for current account deficit
The RBI has many times attributed the widening of the CAD to a higher trade deficit brought about by a larger
increase in merchandise imports as compared to exports. External Commercial borrowings refers to the loans
in the form of bank loans, buyers credit, suppliers credit and securitised instruments availed of by non resident
lenders with a minimum average maturity of 3 years. A decrease/increase in ECB affects the capital account
not the current account side of the Balance of Payment. Capital accounts include foreign assets of commercial
banks, foreign liabilities of commercial banks and transactions in the balance of foreign central banks and
international institutions. According to RBI, lower net invisibilities receipts are one of the primary reasons for
the current account deficit.
Indivisible includes non-factor services, income and private transfer. India’s trade deficit will widen the current
account deficit because of the surge in oil prices.
2. Department of Investment and Public Asset Management (DIPAM) comes under which one of the
following bodies.
A. Ministry of Commerce and Industry
B. Ministry of Corporate Affairs
C. NITI Aayog
D. Ministry of Finance
Answer: D
The department of Disinvestment was set up as a separate Department on 10 th December 1999 and was later
renamed as Ministry of Disinvestment from 6th September 2001. From 27 th May 2004, the department of
Disinvestment became one of the department under Ministry of Finance. The department of disinvestment
has been renamed as Department of Investment and Public Asset Management (DIPAM) from 14 th April 2016.
As per the present allocation of business rules, the mandate of the department is as follows. All matters
relating to management of central government investments in equity including disinvestment of equity in
central public sector undertakings. All matters relating to sale of central government equity through offer for
sale or private placement or any other mode in the erstwhile central public sector undertakings.
3. Consider the following statements with reference to the Securities and Exchange board of India (SEBI)
1. It was established as a statutory body by the Securities and Exchange Board of india Act, 1992
2. Mutual funds do not come under the jurisdiction of SEBI
3. Securities Appellate Tribunal is a statutory body to hear and dispose of appeals against orders
passed by the SEBI
Which of the statements is/are correct?
A. 1 only
B. 3 only
C. 1 and 3 only
D. 1, 2 and 3
Answer: C
The Securities and Exchange Board of India was constituted as a non-statutory body on April 12, 1988 through
a resolution of the Government of India.
The Securities and Exchange Board of India was established as a statutory body in the year 1992 and the
provisions of the Securities and Exchange Board of India Act, 1992 (15 of 1992) came into force on January 30,
1992.
Mutual funds are managed by Asset Management Companies (AMC), which need to be approved by SEBI. A
Custodian who is registered with SEBI holds the securities of various schemes of the fund. The trustees of the
AMC monitor the performance of the mutual fund and ensure that it works in compliance with SEBI
Regulations.
Securities Appellate Tribunal is a statutory body established under the provisions of Section 15K of the
Securities and Exchange Board of India Act, 1992 to hear and dispose of appeals against orders passed by the
Securities and Exchange Board of India or by an adjudicating officer under the Act.
SAT also hears and disposes of appeals against orders passed by the Pension Fund Regulatory and
Development Authority (PFRDA) and the Insurance Regulatory Development Authority of India (IRDAI).
4. Which one of the following best describe the term ‘Value Capture Financing (VCF)’?
A. It is a type of public financing that recovers the value that publc infrastructure generates for private
landowners.
B. It is a tool that start-ups use to raise funding during the initial stages of their formation
C. It is a policy used by banks to recover NPAs from large loan defaulters
D. It is a method used by multilateral organizations to disburse loans to countries.
Answer: A
Value capture finance or VCF is a type of public financing that recovers some or all of the value that public
infrastructure generates for private landowners.
Value Capture as practised widely in the world is based on the principle that private land and buildings benefit
from public investments in infrastructure and policy decisions of Governments (eg. change of land use or FSI).
Appropriate VCF tools can be deployed to capture a part of the increment in value of land and buildings. In
turn, these can be used to fund projects being set up for the public by the Central/State Governments and
ULBs.
The Mumbai Metropolitan Region Development Authority (MMRDA) and City and Industrial Development
Corporation Limited (CIDCO) have used Value Capture methods to finance infrastructure development.
The main types of VCF methods are Land value tax, Betterment levy, Land pooling System (LPS), Fees for
changing land use, Vacant land tax, Tax increment financing, Land Acquisition and Development etc.
5. Which of the following criteria are used by the government for the calculation of Minimum Support
Price (MSP)
1. Prices of various inputs
2. Prices and demand-supply in the international market
3. Parity between the prices paid and the prices received by the farmers
4. Inter-crop price parity
Select the correct answer
A. 1 and 4 only
B. 2, 3 and 4 only
C. 1, 2 and 3 only
D. 1, 2, 3 and 4
Answer: D
Minimum Support Price is a form of market intervention by the Government of India to insure agricultural
producers against any sharp fall in farm prices.
The Government of India announces the minimum support prices as per the recommendations of the
Commission for the Agricultural Costs and Prices at the beginning of the sowing season for certain crops.
MSP is fixed to protect the farmers against excessive falls in price during bumper production years. It is a
guaranteed price by the government for their produce. Its major objectives are to support the farmers from
distress sales and to procure food grains for public distribution.
In formulating the recommendations in respect of the level of minimum support prices and other non-price
measures, the Commission takes into account, the following factors: Cost of production; Changes in input
prices; Input-output price parity; Trends in market prices; Demand and supply; Inter-crop price parity. ; Effect
on industrial cost structure; Effect on the cost of living; Effect on the general price level; International price
situation. ; The parity between prices paid and prices received by the farmers; and Effect on issue prices and
implications for subsidy.
The Commission uses data at the micro-level and aggregates at the district, state and country level.
6. Consider the following statement with reference to the Bay of Bengal Initiative for Multi-Sectoral
Technical and Economic Cooperation (BIMSTEC)
1. It was established in 1955 as a result of the Bandung Conference
2. All members of BIMSTEC are from South Asia and Southeast Asia
3. It does not deal with any security and military aspect of cooperation
Which of the statements given above is/are correct?
A. 1 only
B. 2 only
C. 1 and 3 only
D. 1, 2 and 3
Answer: B
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) was founded as
BIST-EC, in June 1997, with the adoption of the Bangkok Declaration, with Bangladesh, India, Sri Lanka and
Thailand as members.
It became BIMST-EC with the entry of Myanmar in late 1997, And eventually, it was named in its current form,
when Nepal and Bhutan became members in 2004.
It has a total of seven member countries- five from South Asia, including Bangladesh, Bhutan, India, Nepal, and
Sri Lanka, and two from Southeast Asia, including Myanmar and Thailand.
The goals or areas of cooperation are divided between members, for instance, out of the multiple sectors like
trade, energy, transport, fishery, security, culture, tourism and so on.
India is BIMSTEC's pillar for security; this will include areas of counter Terrorism and Transnational Crime
(CTTCC) Disaster Management and Energy.
7. Consider the following statements:
Statement I: Money multiplier is the ratio of the stock of money to the stock of high powered money in an
economy
Statement II: Money multiplier depends on the proportion of reserves that banks are required to hold by the
Reserve Bank of India.
Which of the following is correct with respect to the above statements?
A. Both Statement I and Statement II are correct and Statement II is the correct explanation for Statement
I
B. Both Statement I and Statement II are correct but Statement II is not the correct explanation for
statement I
C. Statement I is correct but Statement II is not correct
D. Statement I is not correct but Statement II is correct
Answer: B
Money multiplier is the ratio of the stock of money to the stock of high-powered money in an economy. The
money multiplier will depend on the proportion of reserves that banks are required to hold by the Reserve
Bank of India. Additionally, a bank can also choose to hold extra reserves. Banks may decide to vary how much
they hold in reserves for two reasons: macroeconomic conditions and government rules. The money multiplier
depends on people re-depositing the money that they receive in the banking system. If people instead store
their cash in safe-deposit boxes or in shoeboxes hidden in their closets, then banks cannot recirculate the
money in the form of loans. So, a higher degree of financial inclusion would lead to an increase in the value of
money multiplier and vice versa
8. Consider the following statements:
1. Currency Deposit Ratio (CDR) is the ratio of money held by the public in currency to that they hold in bank
deposits.
2. Reserve Deposit Ratio (RDR) is the proportion of the total income kept as fixed deposits in banks by the
public.
3. An increase in the CDR leads to an increase in the rates of inflation.
4. An increase in the RDR decreases the cost of credit.
How many of the statements given above are correct?
A. Only 1
B. Only 2
C. Only 3
D. All of the above
Answer: B
The Currency Deposit Ratio (CDR) is the ratio of money held by the public in currency to that they hold in bank
deposits. It reflects people’s preference for liquidity. It is a purely behavioural parameter that depends, among
other things, on the seasonal pattern of expenditure. Reserve deposit ratio (RDR) is the proportion of the total
deposits commercial banks keep as reserves. Reserve money consists of two things – vault cash in banks and
deposits of commercial banks with RBI. Banks use this reserve to meet the demand for cash by account
holders. The currency deposit ratio shows the amount of currency that people hold as a proportion of
aggregate deposits. If people hold more money in currency, then they will be more prone to spend more.
Thus, leading to an increase in inflation. Keeping reserves is costly for banks, as, otherwise, they could lend
this balance to interest earning investment projects. Increasing the reserve deposit ratio reduces the volume
of deposits and, in the absence of other actions, reduces the money stock and raises the cost of credit.
Decreasing the ratios leaves depositories initially with excess reserves, which can induce an expansion of bank
credit and deposit levels and a decline in interest rates.
9. Consider the following statements with reference to the Contingency Fund of India:
A. It is held by the Department of Economic Affairs on behalf of the President of India.
B. 40% of the total corpus is placed at the disposal of the secretary, Department of Expenditure.
C. It was increased to Rs 3000 crores through the Finance Act, 2021.
D. None of the above
Answer: A
The Contingency Fund of India exists for disasters and related unforeseen expenditures. The Fund is managed
by the Department of Economic Affairs on behalf of India's President. It can be operated by executive action.
The government has tweaked spending norms for the Contingency Fund of India, allowing 40 per cent of the
total corpus to be placed at disposal of the Expenditure Secretary. Budget 2021-22 enhanced the Contingency
Fund of India from Rs 500 crore to Rs 30,000 crore through Finance Act.
10. With reference to Price Stabilization Fund Scheme, consider the following statements:
A. It is implemented by the Union Ministry of Agriculture and Farmers Welfare.
B. It facilitates the procurement of goods directly from the farmers at the mandi.
C. It is used to advance interest-free loans to state governments and agencies.
D. The fund is managed by NABARD

Answer: B
The Price Stabilization Fund (PSF) was set up to regulate the extreme price volatility of important agri-
horticultural commodities like onion, potatoes and pulses. The PSF scheme was transferred from the
Department of Agriculture, Cooperation & Famers Welfare (DAC&FW) to the Department of Consumer Affairs
(DOCA), Ministry of Consumer Affairs, Food and Public Distribution w.e.f. 1st April 2016. It is centrally
managed by a Price Stabilisation Fund Management Committee (PSFMC) that approves all State Government's
and Central Agencies' proposals.
Objectives:
To promote direct purchase from farmers /farmers’ associations at farm gate/Mandi.
To maintain a strategic buffer stock that would discourage hoarding and unscrupulous speculation.
To protect consumers by supplying such commodities at reasonable prices through the calibrated release of
stock.
The PSF is utilized for granting interest-free advances of working capital to Central Agencies, State/UT
Governments/Agencies to undertake market intervention operations.
Small Farmers Agribusiness Consortium (SFAC), an autonomous society promoted by the Ministry of
Agriculture, Cooperation and Farmers’ Welfare, maintains the PSF as a central corpus fund. SFAC aims to
promote Agri-Business by encouraging institutional and private sector investments and linkages to ensure the
empowerment of all farmers in the country.
11. The advantage of Lift Irrigation
A. Irrigation at higher and elevated fields
B. Decreased land acquisition problems
C. Stabilisation of agricultural production in drought years.
D. Reduced cost of water supply to fields.
Answer: C
Lift irrigation is a method of irrigation in which water instead of being transported by natural flow (as in
gravity-fed canal systems) requires external energy through animal, fuel based or electric power using pumps
or other mechanical means.
The advantages of Lift irrigation system include:
Used for water application by gravity to the entire area and particularly elevated sites.
Instrumental in stabilizing agriculture production particularly in the years of droughts as the irrigation water is
used to supplement rainfall and water is available whenever is required. Thus, irrigation stabilises climate
extremes and vagaries.
Increase food production as water is available whenever it is required and thereby increase in income level.
Minimal land acquisition problem and low water losses.
The main drawback of lift irrigation is the need for complex pumping and power equipment, power supply,
and high operating costs. All factors raise the cost of water supply to fields.
12. With reference to the PM PRANAM scheme, consider the following statements:
1. It aims to reduce the government’s subsidy burden on chemical fertilizers.
2. It will provide grants based on the change in urea usage in a state in previous years.
3. A separate fund has been created under the NABARD to finance the scheme
Choose the correct statement.
A. Only 1
B. Only 2
C. Only 3
D. All of the above
Answer: B
In order to reduce the use of chemical fertilizers by incentivizing states, the Union government introduced a
new scheme – PM PRANAM, which stands for 'Pradhan Mantri Promotion of Alternate Nutrients for
Agriculture Management.
The scheme intends to reduce the Government’s burden of subsidy on chemical fertilizers.
The government will compare a state’s increase or reduction in urea in a year, to its average consumption of
urea during the last three years.
Data available on a fertilizer Ministry dashboard, iFMS (Integrated Fertilizers Management System), will be
used for providing grants.
The scheme will not have any separate fund under the National Bank for Agriculture and Rural Development
(NABARD) and will be financed by the “savings of existing fertilizer subsidy” under schemes run by the
Department of fertilizers.
Further, 50% subsidy savings will be passed on as a grant to the state that saves the money, and 70% of the
grant provided under the scheme can be used for asset creation related to the technological adoption of
alternate fertilizers and alternate fertilizer production units at village, block and district levels.
13. Choose the correct statement with reference to subsidies in India:
A. Fertilizer subsidy is the difference between the supply and demand-based market rates and the amount
paid by the farmers.
B. Fertilizer subsidy is transferred directly to the farmers' bank accounts.
C. Subsidy on urea fertilizer is paid only when it is used for agricultural purposes.
D. Subsidy on all non-urea fertilizers is paid on the basis of nutrients contained in them.
Answer: C
Farmers buy fertilizers at Maximum Retail Price (MRP) below their normal supply and demand-based market
rates or what it costs to produce/import them. For ex., the MRP of neem-coated urea is fixed by the
government at Rs 5,922 per tonne, whereas its average cost-plus price payable to domestic manufacturers
and importers comes to around Rs 17,000 and Rs 23,000 per tonne, respectively. The difference, which varies
according to plant-wise production cost and import price, is footed by the Centre as subsidy.
The ultimate beneficiary of fertilizer subsidy is the farmer who pays maximum retail prices than the market-
determined rates. The fertilizer subsidy goes to fertiliser companies. The Direct Benefit Transfer (DBT) system
was introduced by the Government of India in 2018 wherein subsidy payment to the companies would happen
only after actual sales of fertilizers to farmers by retailers. The Central Government pays subsidies on urea
fertilizer only for agricultural uses. The Centre pays a subsidy on urea to fertiliser manufacturers on the basis
of cost of production at each plant and the units are required to sell the fertiliser at the government-set
Maximum Retail Price (MRP).
The MRPs of non-urea fertilisers have been decontrolled or fixed by the companies since 2010. The Central
government only pays fixed per-tonne subsidies to ensure “reasonable levels” of prices. But the government
has, in recent times, and especially with the global price surge post the Russia-Ukraine war, brought these
fertilisers under the control regime. All Non-Urea based fertilisers are regulated under Nutrient Based Subsidy
(NBS) Scheme. Under the scheme, a subsidy is provided on fertilizers based on the nutrients contained in
them.
14. Consider the following statements regarding PM e-Bus Sewa scheme
A. An e-bus is any bus whose propulsion and accessory systems are powered exclusively by a zero-emissions
electricity source.
B. It seeks to enhance green mobility by augmenting city bus operations.
C. This scheme cover cities with a population of 3 lakh and above.
D. All of the above.
Answer: D
An e-bus is any bus whose propulsion and accessory systems are powered exclusively by a zero-emissions
electricity source. It seeks to enhance green mobility by augmenting city bus operations. This scheme cover
cities with a population of 3 lakh and above. States or cities will be responsible for payment and running the
bus services. However, the central government will support by providing subsidies to the extent specified in
the scheme.
15. Consider the following statements regarding PM Vishwakarma Scheme
1. This scheme aims to provide subsidised loans to Hawkers and daily wage labourers during Covid Pandemic.
2. It aims at improving the quality as well as the reach of products and services of artisans and craftsmen and
to ensure that Vishwakarmas are integrated with the domestic and global value chains.
Which of the following statement is/are correct?
A. Only 1
B. Only 2
C. Bothe 1 and 2
D. Neither 1 nor 2
Answer: B
This PM Vishwakarma scheme aims to provide subsidised loans to traditional artisans and craftsmen including
weaves, goldsmiths, blacksmiths, laundry workers and barbers. It aims at improving the quality as well as the
reach of products and services of artisans and craftsmen and to ensure that Vishwakarmas are integrated with
the domestic and global value chains. It also has a provision to provide skill upgradation, incentive for toolkit
as well as digital transactions and marketing support. Artisans and craftspeople will be provided a recognition
through PM Vishwakarma certificate and ID card. The craftsmen will be provided a subsidised loan of Rs 1 lakh
in the first tranche, and another Rs 2 lakh in the second tranche, at a concessional interest rate of 5%.
16. Consider the following statement regarding Bamboo
1. India is the second largest cultivator of bamboo after China where the total production of bamboo is 5
million tonnes per year.
2. 18th September is considered as World Bamboo Day
3. Mizoram has the largest area under Bamboo forests.
Which of the following is/are correct?
A. Only 1 and 2
B. Only 1 and 3
C. Only 2 and 3
D. All of the above
Answer: A
Bamboo has low carbon footprint and can sequester a significant amount of carbon dioxide from the
atmosphere. India is the second largest cultivator of bamboo after China with 136 species and 23 genera
spread over 13.96 million hectares. The total production of bamboo is 5 million tonnes per year. 18th
September is considered as World Bamboo Day. Madhya Pradesh has the largest area under Bamboo forests.
17. Which of the following is not deemed to be a Money Bill in the Parliament?
A. Regulation of the money borrowing by the Union Government
B. Withdrawal of money from the Contingency Fund of India
C. Imposition of a tax by any local authority
D. Appropriation of money out of the Consolidated Fund of India
Answer: C
Article 110 of the Constitution of India deals with the definition of money bills. It states that a bill is deemed to
be a money bill it it contains only provisions dealing with all or any of the following matters. The imposition,
abolition, remission, alteration, or regulation of any tax The regulation of the borrowing of money by the
Union Government. The custody of the Consolidated Fund of India or the contingency fund of India, the
payment of money into or the withdrawal of money from any such fund. The appropriation of money out of
the Consolidated Fund of India. Declaration of any expenditure charged on the Consolidated Fund of India.
The receipt of money on account of the Consolidated Fund of India or the public account of India or the
custody or issue of such money, or the audit of the accounts of the Union or of a state
However, a bill is not to be deemed to be a money bill by reason only that it provides for- The imposition of
fines or other pecuniary penalties, The demand or payment of fees for licenses or fees for services rendered.
The imposition, abolition remission alteration or regulation of any tax by any local authority or body for local
purposes.
18. Which of the following statements is/are correct?
A. Cotton is a Kharif crop and requires 6 to 8 months to mature.
B. 7th October is declared as World Cotton Day by the UN General Assembly.
C. India is the second largest producer of Cotton after China
D. All of the above
Answer: D
The United Nations General Assembly declared October 7 as World Cotton Day in 2021. India is the second
largest producer of Cotton after China. Gujarat, Maharashtra and Telangana are the top producing states of
cotton in India. Cotton is a Kharif Crop which requires 6 to 8 months to mature. Temperature requirement:
Between 21-30OC. Rainfall: Around 50-100cm.
19. Consider the following regarding Non-Performing Assets (NPA)
1. A NPA is a loan for which the principal or interest payment remains overdue for a period of 90 days.
2. RBI proposed that lenders should classify a borrower as a wilful defaulter within 6 months of their account
being declared a non-performing assets.
Which of the following statements is/are correct?
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 1
Answer: C
Non-Performing Assets is a loan for which the principal or interest payment remains overdue for a period of
90 days. RBI proposed that lenders should classify a borrower as a wilful defaulter within 6 months of their
account being declared a non-performing assets. Banks are required to classify NPAs further into Substandard
assets, Doubtful assets and Loss assets. One of the reasons for the fall in gross NPA in 2022-23 was large write
off by banks.
20. The youngest Nobel laureate in Economic science
A. Esther Duflo
B. Elinor Ostrom
C. Claudia Goldin
D. Leonid Hurwicz
Answer: A
The youngest economic science laureate is Esther Duflo who was 46 years old when she was awarded in 2019.
Elinor Ostrom became the first female economic science laureate when awarded the prize in 2009.
21. Consider the statements regarding AI-Chatbot for PM KISAN Scheme
1. The introduction of the AI-Chatbot is aimed at empowering farmers with a user-friendly and accessible
platform.
2. It is currently available in English and Hindi only and is proposed to be available in all 22 official langauages.
Which of the following statement is/are correct?
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: A
The introduction of the AI-Chatbot is aimed at empowering farmers with a user-friendly and accessible
platform. AL-Chatbot will assist farmers in seeking information related to their application status, payment
details, ineligibility status and other scheme related updates. It is currently available in English, Hindi, Bengali,
Odia and Tamil, and will soon be available in all 22 official languages of the country.
22. With reference to crop production in India, consider the following statements
1. Both Niger (Ramtil) and Lentil (Masur) are cultivated as a Kharif crop
2. India is the largest producer as well as consumer of pulse in the world.
3. In the last three decades, while the production of Niger has increased, the production of mustard (sarso)
has decreased.
Which of the above statements is/are correct?
A. Only 1
B. Only 2
C. All of the above
Answer: B
Niger(Ramtil) is sown under rainfed situations in Kharif, late Kharif and Rabi seasons. Masoor (Lentil) is grown
in the early winter months when the temperature is 18-20O celcius and the rainfall is 100cm. thus, it is Rabi
crop. So, statement 1 is not correct.
India is the largest producer, importer and consumer of pulses in the world accounting for nearly 25% of
global production, 15% of international trade and 27% of world consumption. So statement 2 is correct.
The area under Niger cultivation has been steadily shrinking over the past three decades. On the other hand,
the area under mustard has touched 84.76lh.
23. Which of the following is correct about State Food Safety Index
1. Food Safety and Standards Authority of India (FSSAI) published a state food safety index
2. FSSAI releases the Index annually for each financial year on 7 th June on the occasion of World Food Safety
Day.
3. The Index is a dynamic quantitative and qualitative benchmarking model that provides an objective
framework for evaluating food safety across all states/UTs.
Choose the correct statement
A. Only 1
B. Only 2
C. Only 3
D. All of the above
Answer: D
Food Safety and Standards Authority of India (FSSAI) published a state food safety index to spur food safety
improvement.
FSSAI releases the Index annually for each financial year on 7 th on the occasion of World Food Safety Day. The
first SFSI was released on 7th June 2019 based on the occasion of World Food Safety Day.
The Index is a dynamic quantitative and qualitative benchmarking model that provides an objective framework
for evaluating food safety across all states/UTs.
24. Which of the following is INCORRECT about Electoral Bond
A. A financial tool introduced in 2018 for donating to political parties.

B. Anyone including the public can issue these interest free, demand payable bonds to fund eligible
political parties.
C. These bonds can be purchase digitally.
D. All Scheduled Commercial Banks are authorised to sell these bonds.
Answer: D
All statements except D are correct. SBI is the only authorised bank to sell electoral bonds.
25. Consider the following:
1. One-time digital wallet payment
2. Paper cheques
3. Automated Card Payments
4. Automated Clearing House debit payment
How many of the above are examples of Push Payments?
A. 1 Only
B. 1 and 2 Only
C. 1, 2 and 3 Only
D. All of the above
Answer: B
Push payments refers to any method where the customer must take the action to initiate payment. In other
words, the payer is in control, pushing the funds to a destination account.
They are more frequently used for transferring one-off sums of money. Cash is an example of push payment as
the payer physically has money in their hand which they give to the payee. Paper cheques also qualify as push
payments because they put the tax payer in control of the payment’s timing and amount. Another example of
push payment is a one time digital wallet payment from one account to another, where the payer has to
initiate the payment.
26. Consider the following statements with reference to E-Rupee/Digital Rupee:
1. It will be exchangeable at par with the existing currency and can be accepted as legal tender.
2. It will appear as a liquidity on the balance sheet of the Reserve bank of India.
Which of the given statement is/are correct?
A. 1 only
B. 2 only
C. Both 1 and 2
D. Neither 1 nor 2
Answer: C
The RBI broadly defines the Central bank Digital currency (CBDC) as the legal issued by a central bank in a
digital form. CBDC such as E-Rupee is akin to soverign paper currency but takes a different form, exchangeable
at par with the existing currency and shall be accepted at par with the existing currency and shall be accepted
as a medium of payment, legal tender and a safe store of value.
As per the RBI, E-Rupee or digital rupee would appear as a liability on its balance sheet.
27. Consider the statement regarding Pradhan Mantri Mudra Yojana
1. It was launched in 2015 to address the challenges faced by Micro, Small and Medium Enterprises (MSMEs)
in accessing loans through traditional channels.
2. Most recipients are women entrepreneurs in the last fiscal year.
3. All Indian citizens with a business plan for non-farm income generating activities are eligible for this scheme.
A. Only 1
B. Only 2
C. Only 1 and 3
D. All of the above
Answer: D
Pradhan Mantri Mudra Yojana was launched in 2015 to address the challenges faced by Micro, Small and
Medium Enterprises (MSMEs) in accessing loans through traditional channels. 60% of loans provided under
PM Mudra go to women entrepreneurs. This scheme provide loans up to 10 lakh to non cooperate, non farm
small/micro enterprises. All Indian citizen with a business plan for non farm income generating activities and
no default history with banks, maintaining satisfactory credit track record are eligible for this loan.
28. Consider the following statements with reference to the Foreign Direct Investment in India:
1. It is a debt creating capital flow in an economy
2. It is prohibited in sectors of Lottery, Gambling and Nidhi company
3. 100% FDI is allowed in software development and computer consultancy services.
Which of the following statement above is/are correct?
A. Only 1
B. Only 2
C. Only 2 and 3
D. All of the above
Answer: C
FDI is a long term investment. It is a non debt capital flow generator because the residents have no direct
repayment obligations. FDI is prohibited in some sectors in India like Lotteries including Government or private
business, online lotteries etc. gambling, betting casinos etc. Nidhi company etc. 100% FDI is allowed in data
processing, software development and computer consultancy services, software supply services, etc.
29. which of the following is/are correct regarding Investor Risk Reduction Access Platform(IRRA)
A. SEBI introduced the Investor Risk Reduction Access Platform(IRRA) at the National Stock Exchange(NSE)
B. It aims to provide safety net for investors during market disruptions, offering a means to manage positions
when faced with technical glitches at trading members’ sites.
C. It limits investors from cancelling their pending orders in the NSE.
D. All of the above
Answer: B
SEBI introduced the Investor Risk Reduction Access Platform(IRRA) at the National Stock Exchange(NSE). It
aims to provide safety net for investors during market disruptions, offering a means to manage positions when
faced with technical glitches at trading members’ sites. It is jointly developed by BSE, NSE, NCDES, MCX and
MSE. It provide authorised investors view and cancel their pending orders across segments and stock
exchanges.
30. Consider the following statements with reference to the Marginal Cost of funds-based lending rate
(MCLR):
1. It is the minimum interest rate that a bank can lend at.
2. It is a tenor linked internal benchmark that is determined internally by the bank.
Which of the statements given above is/are correct?
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: C
MCLR is the minimum interest rate that a bank can lend at. It is the lowest fund lending rate. No bank is
permitted to lend less than this amount. MCLR is a tenor-linked internal benchmark which means tha rate is
determined internally by the bank depending on the period left for the repayment of a loan. Bank must adjust
their interest rates under MCLR whenever the Repo rate changes.
31. If RBI increases the money supply by injecting additional high powered money into the economy, then
both currency held by the public as well as the liability of the banks increases. The bank keeps some deposits
as reserve and loans out the rest. The borrower presumably uses this loan on some investment project. This is
the description of
A. Sterilisation
B. Paradox of Thrift
C. Open Market Operation
D. Money Multiplier
Answer: D
Money multiplier is defined as a ratio that compares changes in the money supply to changes in the money
base. The money multiplier measures the amplified change in the money supply caused by the injection of
additional reserves into the banking system. In macroeconomics, the money multiplier is important because it
determines the money supply which affects interest rates. It is also important in banking because it influences
monetary policy and banking sector stability.
32. Consider the following regarding Twin Balance Sheet
1. It is a financial statement of an institution where banks balance their net profits and liabilities of banks.
2. It is a scenario where banks are under severe stress and the corporates are overleveraged to the extent that
they cannot repay their loans.
3. Scheme for Sustainable Structuring of Stresses Assets (S4A) is one of the steps taken by RBI to address Twin
balance sheet problem.
A. Only 1
B. Only 2
C. Only 1 and 2
D. Only 2 and 3
Answer: D
A balance sheet is a financial statement of an institution at any point which shows the assets, liabilities and
stakeholding of a company. A Twin balance sheet is a scenario where banks are under severe stress and the
corporates are overleveraged to the extent that they cannot repay their loans. The government and RBI has
undertaken various steps to address the Twin balance schhet problem such as Strategic Debt Restructuring
(SDR) Scheme, Scheme for Sustainable Structuring of Stressed Assets (S4A) and recover loan from Private
Asset Reconstruction Companies (ARCs).
33. Which of the following statement is/are correct about Asian Development Bank (ADB)
A. Asian Development Bank (ADB) is a multilateral development bank founded on December 19 1966 that
promotes economic growth and collaboration in Asia Pacific countries.
B. ADB promotes social and economic development through loans, technical assistance, grants and equity
investments to the public sector only.
C. ADB members should be within the Asia Pacific region.
D. All of the above
Answer: A
Asian Development Bank (ADB) is a multilateral development bank founded on December 19 1966 that
promotes economic growth and collaboration in Asia Pacific countries. India is a founding member of ADB.
ADB promotes social and economic development through loans, technical assistance, grants and equity
investments. Its headquarter is in Manila, Philippines and it finances private sector and public private
partnerships. ADB hosts policy debates and provides consulting and co-finances with official commercial and
export credit sources. ADB now has 68 members, 49 from Asia and the Pacific and 19 from elsewhere. Japan
and USA are the major shareholders of the bank. A board of governors from member countries governs it and
capital subscriptions weigh voting.
34. Consider the following statements
1. The first rupee note issued by the RBI was a Five rupee note bearing King George VI’s portrait.
2. Each bank note has its amount written in 17 languages including Hindi and English.
3. India also had high denomination notes like Rs 10,000 and was demonetised back in 1978.
Which of the following statement is/are correct
A. Only 1 and 2
B. Only 2 and 3
C. Only 1 and 3
D. All of the above
Answer: D
The first rupee note issued by the RBI was a Five rupee note bearing King George VI’s portrait. Each bank note
has its amount written in 17 languages including Hindi and English. High denomination notes like Rs 10,000
was demonetised in 1978. Presently coins are minted at four Indian government mints at Mumbai, Kolkata,
Hyderabad and Noida.
35. The advantage of Floating interest rate is/are
A. Payment flexibility at any time without any penalty
B. In case the interest rates drop, a borrower can pay off the loan faster.
C. It is generally lower than the fixed interest rate.
Answer: D
Floating interest rate is an interest rate that changes periodically often, in tandem with a particular
benchmark, or with general market conditions. It is also referred to as an adjustable or variable interest rate
because it can vary over the term of a debt obligation.
The advantages are - Payment flexibility at any time without any penalty; In case the interest rates drop, a
borrower can pay off the loan faster; and It is generally lower than the fixed interest rate.
The disadvantages are - Dynamic and unpredictable; Budgeting becomes difficult for both lender and
borrower; and when market conditions are adverse, financial institutions charge high premiums from
customers.
36. Consider the statement regarding Unified Payments Interface (UPI)
1. It is a digital payment system developed by the National Payments Corporation of India (NPCI) and
regulated by the Government of India.
2. It simplifies transfers using recipients UPI ID eliminating the need to enter bank details or other sensitive
information.
3. Recently NPCI has increased the transaction limit for UPI payment made to hospitals and educational
institutions from Rs 1 lakh to Rs 5 lakh.
A. Only 1 and 2
B. Only 2 and 3
C. Only 1 and 3
D. All of the above
Answer: B
UPI is a digital payment system developed by the National Payments Corporation of India (NPCI) and regulated
by the Reserve Bank of India. Launched on April 11 2016, UPI anables peer to peer inter bank transfers
through a two-click factor authentication process. It simplifies transfers using recipients UPI ID eliminating the
need to enter bank details or other sensitive information. The NPCI has increased the transaction limit for UPI
payment made to hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh. Transaction limits are
capped at Rs 1 lakh except in certain categories like capital markets, collections and insurance.
37. Which one of the following groups are all the five countries members of the BIMSTEC?
A. Bhutan, Bangladesh, India, Myanmar and Indonesia
B. Bangladesh, Sri Lanka, India, Malaysia and Thailand
C. Bangladesh, Sri Lanka, India, Myanmar and Thailand
D. Bhutan, Nepal, Sri Lanka, Malaysia and Thailand.
Answer: C
The Bay of Bengal Initiatives for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a
multilateral regional organisation established with the aim of accelerating shared growth and cooperation
between littoral and adjacent countries in the Bay of Bengal region. It has total of seven member countries-
five from South Asia, including Bangladesh, Bhutan, India, Nepal and Sri Lanka and two from Southeast Asia
including Myanmar and Thailand. Malaysia and Indonesia are not the members of BIMSTEC initiative.
38. Consider the following pairs:
Sl No Mineral Largest Reserve

1 Coal Odisha
2 Iron Ore Jharkhand
3 Bauxite Chhattisgarh
4 Monazite Kerala
Which of the above pair is INCORRECT
A. Only 1
B. Only 2
C. Only 3
D. Only 4
Answer: C
Jharkhand is India’s largest coal producer followed by Odisha and Chhattisgarh. Odisha is the leading producer
of iron ore followed by Chhattisgarh and Karnataka. Odisha is the leading producer of bauxite followed by
Gujarat and Chhattisgarh. The soil in Kerala is acidic having high phosphate capacity and low water holding
capacity and has the largest reserves of monazite in India.
39. Consider the following
1. Increase in the borrowing rates
2. Decline in inflation
3. Increase in bond prices
How many of the above would be the most likely impact of the tight monetary policy of the RBI?
A. Only 1
B. Only 2
C. Only 3
D. All of the above
Answer: C
Contractionary or tight monetary policy is implemented by RBI with the objective of reducing the money
supply in the economy. When RBI adopts contractionary policy, it increases key rates like repo rate, cash
reserve ratio, statutory liquidity ratio, etc. the impact of contractionary monetary policy-
An increase in key rates like cash reserve ratio or statutory liquidity ratio leads to a decline in the credit
volume of the banks and thereby a decline in credit supply in the economy. Thus, banks increase lending rates
for borrowers.
Contractionary monetary policy leads to a decline in the total money circulating in the economy. This leads to
a decline in inflationary pressure in the economy.
Contractionary monetary rates lead to an increase in the interest rates provided by the banks. When this
interest rate increases, bonds that offer alternative interest rates become less attractive. The demand for
bonds declines and their prices fall.
40. consider the following statements with reference to Asset Monetisation
1. It refers to the sale of state-owned companies to the private sector.
2. It was first suggested by Vijay Kelkar Committee for fiscal consolidation.
3. The National Monetisation Pipeline (NMP) deals with the asset monetisation of brownfield infrastructure in
India.
Which of the statement is/are correct?
A. Only 1
B. Only 2 and 3
C. Only 1 and 3
D. All of the above
Answer: B
Asset monetisation aims to tap the private sector investment for new infrastructure creation. It does not
include sale of state-owned companies to the private sector. In India, the idea of asset monetisation was first
suggested by a committee led by economist Vijay Kelkar in 2012 on the roadmap for fiscal consolidation. The
government of India announced the National Monetisation Pipeline (NMP) worth Rs 6 trillion on August 23 in
2021. This scheme aims to serve as a roadmap for the asset monetisation of several brownfields infrastructure
assets across sectors including roads, railways, aviation, power, oil and gas, and warehousing.
41. Consider the following

1. GST Appellate Tribunal (GSTAT) is a forum of second appeal in GST laws and the first common forum of
dispute resolution between centre and states.
2. GSTAT will help in bolstering business sentiments and ease of doing business in the country.
Which of the following is/are correct
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: C
GST Appellate Tribunal (GSTAT) is a forum of second appeal in GST laws and the first common forum of
dispute resolution between centre and states. GSTAT will help in bolstering business sentiments and ease of
doing business in the country. It will expediate the process of adjudication and provide tax certainty especially
in recurring litigative issues.
42. Consider the statement regarding Pradhan Mantri Garib Kalyan Anna Yojana (PM-GKAY)
1. It is a package to help the poor fight the battle against covid-19.
2. The Ministry of Commerce and Industry is the implementing Agency for PM-GKAY
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: A
PM-GKAY is a food security welfare scheme announced by the central government during the Covid-19
pandemic. It is a part of Pradhan Mantri Garib Kalyan Package (PMGKP) to help the poor fight the battle
against Covid-19. The objective is to feed the poorest citizens of India by providing grain through the Public
Distribution System, to all the priority households. Department of Food and Public Distribution, Ministry of
Consumer Affairs, Food and Public Distribution.
43. Consider the statement regarding Equalization Levy
1. Introduced in India in 2016 for online advertisement when the revenue goes to foreign companies.
2. It is a direct tax and is known as Google Tax

A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: C
The Equalization Levy was introduced in India in 2016 for online advertisements when the revenue goes to
foreign companies. It was 6% of the advertisement revenues. It is popularly known as Google Tax. It is in line
with the OECD-G20 inclusive framework for a global consensus on taxing the digital economy. Equalization
levy was introduced as a separate levy and not under the GST law or under the Income Tax law. The burden of
the levy is on non-resident e-commerce entities. EL administration is left to the Central Board of Direct Taxes
(CBDT) which is an apex body for administering direct taxes.
44. Gandhian economics is said to be
A. Communist Economy
B. Socialist Economy
C. Liberal Economy
D. Capitalist Economy
Answer: B
Gandhian economy has a unique socialist content. Gandhian socialism is not centered around state policies
but are a decentralised growth of economy based on full participation of adult labour and certain moral
prescription. Gandhian socialism and his economic thought is based on small scale and locally oriented
production using local resources and meeting local needs so that employment opportunities are made
available everywhere and to everyone promoting the ideal of Sarvodaya; the welfare of all, in contrast to the
rich dominating.
45. It advocates government should make policies for maximizing net exports because the best way of
ensuring a country’s prosperity is by promoting export.
A. Mercantilism
B. Green Economics
C. Physiocrats
D. None
Answer: A
Mercantilism advocates government should make policies for maximizing net exports because the best way of
ensuring a country’s prosperity is by promoting export. It will lead to foreign exchange reserve build up which
will have homogeneous benefits by way of foreign investments, acquisitions, loans that are very commercially
attractive, etc.
46. When an economy slows down to a level where is starts to produce less than what it produced it is called
A. Slowdown
B. Depression
C. Recession
D. Peak
Answer: C
When an economy slows down to a level where is starts to produce less than what it produced it is called
recession. It may also be called contraction or degrowth. Recession may occurs when in two successive
quarters economic production is less than the same two quarters in the previous year. Recession may be
caused by various events such as a financial crisis, an external trade shock where prices of commodities shoot
up.
47. Consider the statement regarding the indicators of Human development Index
1. Life Expectancy at birth
2. Education
3. Gross Domestic Product
A. Only 1 and 2
B. Only 2 and 3
C. Only 1 and 3
D. All of the above
Answer: B
HDI is developed in 1990 by Pakistani economist Mahbub Ul Haq. It is published annually by United Nations
Development Programme. The indicators of Human Development Index are Life expectancy at birth,
Educational attainment and Per capita income and not Gross domestic income.
48. The dimensions of Gross National Happiness Index are
A. Equitable and sustainable socio economic development
B. Preservation and promotion of cultural values
C. Conservation of the natural environment
D. All of the above
Answer: D
Gross national happiness is an attempt to define quality of life in more holistic terms than Gross National
Product. The term was coined by Bhutan’s former King Jigme Singye Wangchuk. It is published by the United
Nations Sustainable Development Solutions Network. The four dimensions are- Equitable and sustainable
socio economic development; preservation and promotion of cultural values; conservation of the natural
environment; and good governance.
49. Which of the following is/are the main functions of NITI Aayog
A. Design policy and programme framework
B. Foster cooperative federalism
C. Think Tank and Knowledge and Innovation hub
D. All of the above
Answer: D
The main functions of NITI Aayog are Design policy and programme framework; foster cooperative federalism;
monitoring and evaluation; and think tank and knowledge and innovation hub.
50. Which of the following talks about the Annual Financial Statement
A. Article 110
B. Article 111
C. Article 112
D. Article 113
Answer: C
Article 112 talks about the Annual Financial Statement laid before both the houses of Parliament a statement
of the estimated receipts and expenditure of the Government of india.
51. Consider the following pair
A. Revenue Difference between Revenue Receipts and Revenue Expenditure

Deficit
B. Fiscal Deficit Difference between Total Revenue and Total Expenditure
C. Budget Deficit When Total Expenditure is more than Total Revenue
D Effective Difference between revenue surplus and grants for creation of capital
Revenue Deficit assets
Which of the following pair is INCORRECT?
Answer: D
Effective Revenue Deficit is defined as the difference between the revenue deficit and the grants for creation
of capital assets. Grants for creation of capital assets are defined as the grants in aid given by the central
government to the state government.
52. Consider the following regarding Monetized Deficit
1. It is the borrowings made from the RBI through printing fresh currency.
2. It is equal to budget deficit when the concept was in vogue
Which of the following is correct
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: C
Monetized deficit is borrowings made from the RBI through printing fresh currency. It is resorted to when the
government cannot borrow from the market any longer due to inadequacy of credit available and pressure on
interest rates. It means infusion of fresh currency into the market. It was discontinued from 2006 as a part of
the FRBM and since then RBI does not normally print to lend to the government of India. It is equal to budget
deficit when the concept was in vogue.
53. Which of the following pair is known as Twin Deficit
A. Revenue Deficit and Fiscal Deficit
B. Budget Deficit and Current Account Deficit
C. Current Account Deficit and Capital Account Deficit
D. Capital Account Deficit and Budget Deficit
Answer: B
Budget Deficit and Current Account Deficit are together known as twin deficits. If they are not prudently
managed, they can mutually damage each other.
54. Which of the following is correct about Crowding Out
A. Excessive government borrowing leads to shrinkage of the liquidity in the market for the private sector.
B. Excessive government spending results in an increase in the inflation rate.
C. It is the excessive government policy of generating more revenue by imposing high tax rates.
Answer: A
Excessive government borrowing can lead to shrinkage of the liquidity in the market for the private sector and
forces the interest rates to go up. Investment suffers and growth decelerates. It is called crowded out. The
government also may not spend the borrowed resources well to generate returns. It may spend on populist
schemes. However if the government deploys the funds well, it may have a crowding-in effect if the
infrastructure built can have a multiplier effect on investment, jobs, tax collections and growth.
55. Which of the following is not the head of public debt
A. Market Borrowings
B. Provident Fund
C. Disinvestment
D. Small saving reserve fund
Answer: C
Public debt of government includes Market borrowings, Small savings, Provident funds, Special deposits,
External borrowings, RBI Ways and Means advances, etc. Disinvestment is the selling of government assets.
56. Consider the following regarding Masala Bonds
1. They are issued in global capital markets outside India by international financial institutions to raise money
and lend to Indian companies.
2. These bonds are traded in every country’s capital market
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: A
Masala bonds are issued in global capital markets outside India by International financial institutions to raise
money and lend to Indian companies. It was used by the international Finance Corporation to evoke the
culture and cuisine of india. Other similar terms for international bonds are Samurai (Japan) and Dim Sum
(Chinese). Masala bonds can only be issued in a country and subscribed by a resident of such country that is a
member of the Financial Action task Force and whose securities market regulator is a member of international
Organization of Securities Commission.
57. Which of the following is not the objective Monetary Policy
A. Price stability
B. Accelerating growth of economy
C. Encouragement to agriculture
D. All of the above
Answer: C
The objectives of monetary policy includes price stability; accelerating growth of economy; exchange rate
stabilization; balancing savings and investment; generating employment; and financial stability.
Encouragement to agriculture is part of the fiscal policy.
58. The increase in the total supply of money in the economy by easing its availability by relaxing the rates and
ratios are known as
A. Expansionary Monetary policy
B. Contractionary Monetary policy
C. Crowding-out policy
D. Crowding-in policy
Answer: A
Expansionary policy increases the total supply of money in the economy by easing its availability by relaxing
the rates and ratios. Expansionary policy is used to revive economic growth while contractionary policy aims to
reduce prices that have gone up due to excessive money supply or growth.
59. Consider the statement regarding Reserve bank of india
1. It was established based on the recommendation of Hilton Young Commission
2. its headquarter is in New Delhi
Which of the statement is/are correct
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: A
RBI Act 1934 came into effect in 1935 provides the statutory basis of the functioning of the bank. It was
established based on the recommendations of the Hilton young commission. The RBI was privately owned
when it was set up. Its headquarter is in Mumbai.
60. The balances in savings/current accounts which are not operated for 10 years
A. Demand Deposits
B. Security Deposits
C. Unclaimed Deposits
D. Fixed Deposits
Answer: C
The balances in savings/current accounts which are not operated for 10 years or a term deposits not claimed
within 10 years from date of maturity are classified as Unclaimed deposits. As of March 2023, the unclaimed
deposits of Rs 42,270 crores are lying with the banks.
61. Consider the following regarding Inoperative Account
1. It is treated as inoperative it there are no customer induced transactions for a period of over two years.
2. Zero balance accounts for beneficiaries of State/Central government schemes and students who receive
scholarships can also be classified as Inoperative account.
Which of the above statement is/are correct?
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: A
Inoperative account is treated as inoperative if there are no customer induced transactions in the account for
a period of over two years. Zero balance accounts for beneficiaries of Central/State government schemes and
for students who receive scholarships. A customer induced transaction can be a financial transaction initiated
by or done at the request of the account holder by the bank or third party, or a non-financial transaction or a
KYC (Know Your Customer) updation.
62. which of the following is correct about Insolvency and Bankruptcy Code (IBC)2016
A. It provides for the establishment of Tribunals for expeditious adjudication and recovery of debts.
B. Facilitates reorganization and insolvency resolution of corporate persons, partnership firms, and individuals
within a time-bound manner.
C. Allow secured creditors to take possession of collateral upon default in repayment.
D. Aims to reduce Non Performing Assets of banks, improving financial system stability and efficiency.
Answer: B
Debt Recovery Tribunals established under the Recovery of Debts and Bankruptcy Act, 1993 provides for the
establishment of Tribunals for expeditious adjudication and recovery of debts. Insolvency and Bankruptcy
Code (IBC)2016 facilitates reorganization and insolvency resolution of corporate persons, partnership firms,
and individuals within a time-bound manner (180 days, extendable by 90 days). SARFAESI Act 2002 allows
secured creditors to take possession of collateral upon default in repayment. National Asset Reconstruction
Company (NARCL) aims to reduce Non Performing Assets of banks, improving financial system stability and
efficiency.
63. The main objectives of the National Bank for Agriculture and Rural Development (NABARD)
A. Bringing banking services closer to rural and agricultural communities and promoting rural development.
B. Fostering rural prosperity and promoting sustainable and equitable agriculture and rural development.
C. Providing short term and long term financial assistance to rural banks.
D. All of the above
Answer: B
The main objectives of NABARD is to fostering rural prosperity and promoting sustainable and equitable
agriculture and rural development. Regional Rural banks aims at bringing banking services closer to rural and
agricultural communities and promoting rural development.
64. Consider the statement regarding Pradhan Mantri Suryodaya Yojana
1. One crore households will get rooftop solar power systems.
2. The name of the scheme has been changed to ‘PM Surya Ghar Muft Bijil Yojna’
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: C
Pradhan Mantri Suryodaya Yojana is a government scheme under which one crore households will get rooftop
solar power systems. It is a scheme of an attempt to help reach the target of 40 GW rooftop solar capacity.
The name of the scheme has been changed to ‘PM Surya Ghar Muft Bijli Yojna’.
65. Consider the following regarding Open Acreage Licensing Policy (OALP)
1. OALP was recently launched by the Ministry of Petroleum and Natural Gas.
2. OALP gives investors the freedom to carve out blocks of their choice after assessing Exploration &
Production data available to National Data Repository and submit an Expression of interest (EoI)
Which of the above statement is/are correct?
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: C
The Ministry of Petroleum and Natural Gas recently launched the ninth round of bids under the Open Acreage
Licensing Policy (OALP). OALP gives investors the freedom to carve out blocks of their choice after assessing
Exploration & Production data available to National Data Repository and submit an Expression of interest
(EoI). EoI can be submitted thrice a year without waiting for a formal bit round from the government. These
blocks are later offered through a biannual formal bidding process. The entity offering the maximum share of
oil and gas to the government is awarded the block.
66. Which of the following is correct regarding Fourth Industrial Revolution
A. Telangana and World Bank have signed an agreement to set up a Centre for the Fourth Industrial
Revolution (C4IR) in Hyderabad.
B. C4IR is a global initiative of the World Bank to collaborate with governments to address the challenges and
opportunities associated with the Fourth Industrial Revolution.
C. Fourth Industrial Revolution refers to how technologies like artificial intelligence, autonomous vehicles and
the internet of things are merging with human physical live.
D. All of the above
Answer: C
Telangana and World Economic Forum (WEF) have signed an agreement to set up a Centre for the Fourth
Industrial Revolution (C4IR) in Hyderabad. C4IR is a global initiative of the WEF to collaborate with
governments, businesses, academia, and civil society to address the challenges and opportunities associated
with the Fourth Industrial Revolution. The fourth Industrial Revolution refers to how technologies like artificial
intelligence, autonomous vehicles and the internet of things are merging with human physical live. Examples:
Voice-activated assistants, facial ID recognition or digital health care sensors.
67. With reference to fiscal consolidation, which of the following statement is correct
A. Government policies to eliminate deficit of the government

B. Government policies to reduce fiscal deficit and debt accumulation
C. Government policies to reduce government expenditure and debt
D. Government policies to mobilise revenue through progressive taxation
Answer: B
Fiscal consolidation refers to the government policies to reduce their deficits and accumulation of debt stock.
It is not eliminating fiscal deficit, but to reduce it from the standard value.
68. Consider the following regarding Bitcoin
1. it is a worldwide cryptocurrency and digital payment system.
2. It was developed under the name Satoshi Nakamoto
3. Bitcoin is fiat currency
Which of the following is/are correct
A. Only 1
B. Only 3
C. Only 1 and 2
D. Only 1 and 3
Answer: C
Bitcoin is a worldwide private cryptocurrency and digital payment system. It is the first decentralized digital
currency, as it works without a central repository or single administrator. It was developed under the name
Satoshi Nakamoto and released as open source software in 2009. The legal bitcoin varies from country to
country, some countries have allowed its use and trade, others have banned or restricted it. Cryptocurrencies
like Bitcoin is not fiat currency and were initially not approved by the RBI.
69. Which of the following institution is not run by the RBI
A. Indira Gandhi Institute of Development Research (IGIDR), Mumbai
B. National Institute of Bank Management (NIBM), Pune
C. Gokhale Institute of Politics and Economics (GIPE), Pune
D. Institute for Development and Research in banking Technology (IDRBT), Hyderabad
Answer: C
There are three autonomous institutions run by RBI namely National Institute of Bank Management (NIBM),
Pune; Indira Gandhi Institute of Development Research (IGIDR), Mumbai; and Institute for Development and
Research in banking Technology (IDRBT), Hyderabad.
70. Which of the following is not the instrument of Money Market
A. Certificate of Deposits
B. Commercial papers
C. Commercial Bills
D. Mutual Funds
Answer: D
Money market instruments are- Call money, Bill Market (Commercial Bills and Treasury Bills), Certificate of
Deposits and Commercial Papers. Mutual Funds is the instrument of Capital market.
71. An institutional investors like sovereign wealth funds, mutual funds and pension funds that are invited to
subscribe for share ahead of the IPO to boost the popularity of the issue and provide confidence to potential
IPO investors.
A. Angel investors
B. Anchor investors
C. Foreign Institutional Investors
D. Foreign Portfolio Investors
Answer: B
An angel investor is a wealthy individual or firm that provides capital for a business startup, usually in
exchange for convertible debt or ownership equity. FII is an institution established or incorporated outside
India which proposes to make investment in securities in India. When investors from foreign countries buy
stock/securities in the local market without having any control/management of the firm//business entity is
known as FPI.
72. Consider the following about States’ Startup Ranking
1. The Department for Promotion of Industry and Internal Trade (DPIIT) released the States’ Startup Ranking
2. Its objectives is to provide support in policy formulation and implementation in the start-up field.
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: C
States’ Startup Ranking is released by the Department for Promotion of industry and Internal Trade (DPIIT). Its
objectives are to encourage mutual learning among all states; provide support in policy formulation and
implementation in the start-up field; and evaluate the Indian startup landscape through the eyes of state/UT
policy intervention. For more https:/startupindia.gov.in/
73. Which of the following is correct regarding Annual Survey of Industries
1. It is the Ministry of Statistics and Programme Implementation (MoSPI) who published the ASI report.
2. It cover units with 100 or more employees registered in the Business Register of Establishments (BRE)
prepared and maintain by the state government.
3. The GVA of Industry has increased significantly post covid pandemic
A. Only 1 and 2
B. Only 2 and 3
C. Only 1 and 3
Answer: D
The Ministry of Statistics and Programme Implementation (MoSPI) has recently published the ASI findings for
2020-21 and 2021-22. ASI covers Factories registered under section 2m(i) and 2m(ii) of the Factories Act, 1948.
Bidi and cigar manufacturing establishments registered under the Bidi & Cigar workers Act, 1966. Electricity
undertakings. Units with 100 or more employees registered in the BusinessRegister of Establishments (BRE)
prepared and maintained by the state government.
74. Consider the following regarding International Intellectual Property Index
1. US Chamber of Commerce released the Index
2. India ranks 42nd out of 55 countries evaluated.

3. Top five economies are US, UK, France, Germany and Sweden
A. Only 1 and 2
B. Only 2 and 3
C. Only 1 and 3
Answer: D
The US Chamber of Commerce has released the 12th edition of its International Intellectual Property Index. It is
published annually, the index evaluates the IP frameworks of the world’s top 55 economies using 50 unique
criteria. India ranks 42nd out of 55 countries evaluated. India’s overall score remain unchanged at 38.64% The
top five economies are US, UK, France, Germany and Sweden.
75. Which of the following is correct about the objective Bharatmala Pariyojana
A. Optimize efficiency of freight and passenger movement across the country.
B. Improve connectivity in the North East
C. Enhance efficiency of existing corridors
Answer: D
Bharatmala Pariyojana is an umbrella program for the highways sector aimed at bridging critical infrastructure
gaps and developing 34800 km of national Highways by 2022. All three are the objective of Bharatmala Pari
yojana.
76. Which of the following is not the certification mark by Bureau of Indian standards (BIS)
A. ISI Mark
B. AGMARK
C. BIS Hallmark
D. Ecomark
Answer: B
AGMARK is the certification mark for agricultural products, ensuring adherence to standards. It covers
products like essential oils, vegetable oils, pulses, cereals, fruits, vegetables, and semi processed items. The
authority for AGMARK is Directorate of Marketing and Inspection, Ministry of Agriculture and Family Welfare.
77. The beneficiaries covered under Pradhan Mantri Fasal Bima Yojana
A. All farmers growing notified crops in the notified area
B. Scheme voluntary for all farmers from Kharif 2020
C. Previously compulsory for farmers with Crop Loan or Kisan Credit Card (KCC) accounts
D. All of the above
Answer: D
The beneficiaries covered under Pradhan Mantri Fasal Bima Yojana - All farmers growing notified crops in the
notified area; Scheme voluntary for all farmers from Kharif 2020; and Previously compulsory for farmers with
Crop Loan or Kisan Credit Card (KCC) accounts. Risks covered include – Yield losses due to natural calamities
like fire, lightning, storm, hailstorm, cyclone, etc.; Risks due to flood, inundation, landslide, drought, dry spells,
pest, diseases, etc.; and post harvest losses covered upto 14days from harvesting.
78. Which of the following crops are covered by Minimum Support Price (MSP)
A. Paddy, Wheat, Chana, Groundnut, Sugarcane, Sunflower
B. Paddy, Wheat, Chana, Groundnut, Sugarcane, Potato
C. Paddy, Wheat, Moong, Groundnut, Sugarcane, Potato
D. Paddy, Wheat, Moong, Groundnut, Sugarcane, Sunflower
Answer: A
MSP covered 7 types of cereals (paddy, wheat, maize, bajra, joway, ragi and barley); 5 types of pulses (chana,
arhar/tur, urad, moong and masur); 7 oilseeds (rapeseed-mustard, groundnut, soyabean, sunflower,
sesamum, safflower, nigerseed); and 4 commercial crops (cotton, sugarcane, copra, raw jute).
79. The responsibility of Finance Commission are
A. Distribution of the net proceeds of taxes between the Union and States
B. Principles governing grant-in-aid for the revenues of the states under Article 275 of the constitution.
C. Reviewing current financing arrangements for Disaster Management initiatives.
D. All of the above
Answer: D
The responsibility of Finance Commission includes Distribution of the net proceeds of taxes between the
Union and States, as well as the allocation of these proceeds among the states; Principles governing grant-in-
aid for the revenues of the states under Article 275 of the constitution; Reviewing current financing
arrangements for Disaster Management initiatives, including funds established under the Disaster
Management Act, 2005; and Measures to enhance the Consolidated Fund of a state to support the resources
of Panchayats and Municipalities, based on recommendations from the state finance Commission.
80. Consider the following statement
1. The direct tax to GDP ratio reached a 15 year high in the last fiscal year.
2. Tax buoyancy also increase resulting increase in tax collection
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: A
The direct tax to GDP ratio serves as an indicator of a country’s ability to generate resources for its
development. The direct tax to GDP ratio reached a 15 year high of 6.11% in the last fiscal year. Tax buoyancy
measures the responsiveness of tax collection to changes in GDP, indicating how efficiently tax revenues
increase alongside economic growth. Despite the increase in the Direct tax to GDP ratio, tax buoyancy
declined from 2.52 to 1.18 compared to the previous year, suggesting a decrease in tax collection efficiently
relative to GDP growth.
81. A sudden increase in profits, typically caused by an unexpected event or circumstance.
A. Speculative profit
B. Virtual profit
C. Windfall profit
D. Digital profit
Answer: C
A windfall profit refers to a sudden increase in profits, typically caused by an unexpected event or
circumstance. Such profits are generally well above historical norms and may occur due to factors such as a
price spike or supply shortage that are either temporary in nature or longer-lasting. Windfall profits are
generally reaped by an entire industry sector but can also find their way to an individual company or
individual.
82. Consider the following statement
1. Gini Coefficient is a statistical measure of economic inequality in a population
2. the coefficient ranges from 0 to 1, 0 represents perfect inequality and 1 represent perfect equality
3. value greater than 1 are theoretically possible due to negative income or wealth
A. Only 1 and 2
B. Only 1 and 3
C. Only 2 and 3
D. All of the above
Answer: B
Gini Coefficient is a statistical measure of economic inequality in a population. It measures the distribution of
income or wealth among the members of a population. The coefficient ranges from 0 to 1, 0 represents
perfect equality and 1 represent perfect inequality. Higher gini coefficient indicates higher inequality. Value
greater than 1 are theoretically possible due to negative income or wealth.
83. According to the India Employment Report 2024, which of the statement is INCORRECT
A. Internal Labour Organisation (ILO) and Institute of Human Development (IHD) jointly published the Report.
B. Female labour market participation in rural areas is shown to increase from 2019 after the significant
decline.
C. Service sector employment dominate the employment landscape in India.
D. By 2030, India is projected to have a migration rate (rural to urban) of around 40%
Answer: C
The Internal Labour Organisation (ILO) and Institute of Human Development (IHD) jointly published the Report
2024. Female labour market participation in rural areas is shown to increase from 2019 after the significant
decline. Self employment and casual employment dominate the employment landscape in India.
Approximately 82% of the workforce is engaged in the informal sector. By 2030, India is projected to have a
migration rate (rural to urban) of around 40% and an urban population of approximately 607 million.
84. Consider the following regarding IMF Quotas
1. Quotas are dominated in Special Drawing Rights (SDRs)
2. The formula includes GDP, Openness, Economic variability and international reserves
3. IMF board of Governors conducts general quota reviews every five years.
A. Only 1 and 2
B. Only 1 and 3
C. Only 2 and 3
D. All of the above
Answer: D
Quotas are the building blocks of the IMF’s financial and governance structure. Quotas are dominated in
Special Drawing Rights (SDRs), the IMF’s unit of account. The formula includes GDP, Openness, Economic
variability and international reserves. IMF board of Governors conducts general quota reviews every five
years, focussing on the size of an overall quota increase and its distribution among members.
85. It is basically a form of hidden inflation
A. Stagflation
B. Shrinkflation
C. Blindflation
D. Markflation
Answer: B
Shrinkflation occurs when goods shrink in size but consumers pay the same price. It occurs when
manufacturers downsize products to offset higher production costs but keep retail prices the same. It is
basically a form of hidden inflation. Instead of increasing the price of a product, producers reduce the size of
the product while maintaining the same price.
86. V Shaped recovery means
A. Economy is adjusted and recover

B. Economy is achieving development
C. Economy is in turmoil
Answer: A
In a V shaped recovery, an economy that has suffered a sharp economic decline experiences a fast and strong
rebound. It is assumed that incomes and jobs in the economy are not permanently lost and the economic growth
recovers sharply.
87. What will be the consequences of Inflation on government?
A. Increase cost of Infrastructure development

B. Increased fiscal deficit
C. Breeds corruption and black-marketing
D. All of the above
Answer: D
Inflation affected government in many ways. As inflation rate increases the cost of infrastructure development
has increase and the government needs to borrow more funds, which will further increase the fiscal deficit of
the government. Money supply has increased which create black marketing and corruption in the economy.
88. Choose the correction option below:
A. Inflation is associated with currency depreciation

B. Inflation is associated with high inflow of investment
C. Inflation is associated with increase in production
D. Inflation is associated with increase in exports.
Answer: A
Inflation is associated with currency depreciation, low investment, low production due to high input cost, low
exports as exports prices become expensive.
89. The key pillar of Foreign Trade Policy 2023
A. Export Promotion through collaboration

B. Ease of Doing Business
C. Reduction in transport cost
D. All of the above
Answer: D
The key pillar of Foreign Trade Policy 2023 are Export Promotion through collaboration- Exporters, States,
Districts, Indian Mission; Ease of Doing business; Reduction in transaction cost and e-initiatives; Emerging areas
- ecommerce developing districts as Exports hub and streamlining SCOMET policy.
90. A measure of the intensity of poverty among the poor is called
A. Headcount Ratio
B. Poverty Gap
C. Misery Index
D. Poverty line
Answer: B
Poverty line is the level of income below which one cannot afford to purchase all the resources one requires to
have a certain minimum quality of life. Headcount ratio is the incidence of poverty expressed in ratio. Misery
index is the unemployment rate added to the inflation rate.
91. Which of the following committee is not the committee for Poverty
A. Lakdawala Committee
B. Alagh Committee
C. Subramanian Committee
D. Tendulkar Committee
Answer: C
Subramanian Committee is related to National Education Policy 2020.
92. Which of the following is not the dimension of Multidimensional Poverty Index
A. GDP
B. Health
C. Education
D. Living Standards
Answer: A
MPI has three dimension and ten indicators such as Health (child mortality and nutrition), Education (Year of
Schooling and Children enrolled), and Living Standard (Cooking fuel, toilet, water, electricity, floor, assets).
GDP is not included in the dimension or indicators of MPI.
93. Which of the following is not Millenium Development Goals
A. To eradicate extreme poverty and hunger
B. To achieve universal primary education
C. To combat HIV/AIDS, malaria and other diseases
D. To reduce inequality within and among countries
Answer: D
To reduce inequality within and among countries is the Sustainable Development Goals
94. Which of the following is not Sustainable Development Goals
A. End poverty in all its forms
B. Achieve gender equality and empower all women and girls
C. Reduce Child mortality
D. Ensure access to affordable, reliable, sustainable and modern energy for all
Answer: C
To reduce Child mortality is the Millenium Development Goals
95. Consider the sattements regarding Randomized Controlled Trials (RCTs)
1. RCT represent experimental economics where empirical field studies are the basis of social and economic
interventions for betterment.
2. Nobel Laureautes Abhijit, Esther and Michael used this tool to received the award in 2019.
Which of the statement is correct?

A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: C
RCT represent experimental economics where empirical field studies are the basis of social and economic
interventions for betterment. RCT is a simple and reliable tool in experimental research and eliminate bias to a
great degrees. The experimental research driven by the RCTs of Abhijit, Esther and Michael won the Nobel
Prize in Economics in 2019.
96. Which of the following is the initiatives to curb inequalities by the government?
A. Education, health and skills and training programmes
B. Labour intensive growth
C. Backward region development
D. All of the above
Answer: D
The government addresses inequalities by introducing policies that ensure: Education, health and skills and
training programmes; Labour intensive growth; Backward region development; Infrastructure particularly
rural; social security; and increase public investment in agriculture.
97. Which of the following is the requirement of export of a nation
A. Making economic growth and competitive
B. Reduce social Inequality
C. Create employment
D. Serve external debt
Answer: B
Country needs to export to – make economy more competitive, boost growth, create employment, earn
foreign currency, serve external debt, etc. Export motive does not necessarily induce to reduce social
inequality.
98. Consider the following regarding service exports
1. India’s service export contribute 4% to the world services export
2. India’s services exports are dominated by the software sector
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: C
India’s service export contribute 4% to the world services export and is raising at more than 11%. India’s
services exports are dominated by the software sector followed by business, travel, transportation and other
services such as financial, insurance and communication services.
99. Sectors included in Champion Services sectors
A. Information Technology & Information Technology enabled services (IT&ITeS)
B. Tourism and Hospitality Services
C. Transport and Logistics Services
D. All of the above
Answer: D
The government in 2018 identified 12 sectors as Champion Services sectors such as - Information Technology
& Information Technology enabled services (IT&ITeS); Tourism and Hospitality Services; Transport and
Logistics Services; Medical Value Travel; Accounting and Finance Services; Audio Visual Services; Legal
Services; Communication Services; Construction and Related Engineering Services; Environmental Services;
Financial Services; and Education Services.
100. Unemployment that is caused by changes in industry, location and techniques.
A. Cyclical Unemployment
B. Frictional Unemployment
C. Structural Unemployment
D. Seasonal Unemployment
Answer: C
Cyclical Unemployment occurs when all those who want to work cannot be employed because there is not
enough demand in the market for their work. Frictional unemployment occurs when a person leaves/loses a job
and starts looking for another one. Seasonal Unemployment is expected to occur during certain parts of the
year where people get unemployed during festival seasons.

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CHASE ACADEMY

Near Vaivakawn Presbyterian Church

PRELIMS MOCK TEST SERIES, 2024

Which of the following is correct with respect to the above statements?

8. Consider the following statements:

3. An increase in the CDR leads to an increase in the rates of inflation.

4. An increase in the RDR decreases the cost of credit.

How many of the statements given above are correct?

A. It is held by the Department of Economic Affairs on behalf of the President of India.

C. It was increased to Rs 3000 crores through the Finance Act, 2021.

D. None of the above

A. It is implemented by the Union Ministry of Agriculture and Farmers Welfare.

C. It is used to advance interest-free loans to state governments and agencies.

D. The fund is managed by NABARD

To promote direct purchase from farmers /farmers’ associations at farm gate/Mandi.

A. Irrigation at higher and elevated fields

B. Decreased land acquisition problems

C. Stabilisation of agricultural production in drought years.

D. Reduced cost of water supply to fields.

The advantages of Lift irrigation system include:

Minimal land acquisition problem and low water losses.

1. It aims to reduce the government’s subsidy burden on chemical fertilizers.

Choose the correct statement.

13. Choose the correct statement with reference to subsidies in India:

B. Fertilizer subsidy is transferred directly to the farmers' bank accounts.

14. Consider the following statements regarding PM e-Bus Sewa scheme

B. It seeks to enhance green mobility by augmenting city bus operations.

C. This scheme cover cities with a population of 3 lakh and above.

D. All of the above.

15. Consider the following statements regarding PM Vishwakarma Scheme

Which of the following statement is/are correct?

16. Consider the following statement regarding Bamboo

2. 18th September is considered as World Bamboo Day

3. Mizoram has the largest area under Bamboo forests.

Which of the following is/are correct?

A. Regulation of the money borrowing by the Union Government

B. Withdrawal of money from the Contingency Fund of India

C. Imposition of a tax by any local authority

D. Appropriation of money out of the Consolidated Fund of India

18. Which of the following statements is/are correct?

A. Cotton is a Kharif crop and requires 6 to 8 months to mature.

B. 7th October is declared as World Cotton Day by the UN General Assembly.

C. India is the second largest producer of Cotton after China

D. All of the above

19. Consider the following regarding Non-Performing Assets (NPA)

Which of the following statements is/are correct?

20. The youngest Nobel laureate in Economic science

21. Consider the statements regarding AI-Chatbot for PM KISAN Scheme

Which of the following statement is/are correct?

2. India is the largest producer as well as consumer of pulse in the world.

Which of the above statements is/are correct?

Choose the correct statement

24. Which of the following is INCORRECT about Electoral Bond

A. A financial tool introduced in 2018 for donating to political parties.

25. Consider the following:

1. One-time digital wallet payment

3. Automated Card Payments

4. Automated Clearing House debit payment

How many of the above are examples of Push Payments?