ALL INDIA IAS/IPS INSTITUTE
DAILY TEST – IV
1. Which one of the following best describes steadily increased in the last
the term "Merchant Discount Rate" decade.
sometimes seen in news? 2. To put the public sector banks in
order, the merger of associate
(a) The incentive given by a bank
banks with the parent State
to a merchant for accepting
Bank ofIndia has been affecte(d)
payments through debit
cards pertaining to that bank. Which of the statements given
(b) The amount paid back by above is/are correct ?
banks to their customers
when they use debit cards for (a) 1 only (b) 2 only
financial transactions for (c) Both 1 and 2 (d)
purchasing goods or services. Neither 1 nor 2
(c) The charge to a merchant by a
bank for accepting payments 3. With reference to digital payments,
from his customers through the consider the following statements:
bank'sdebit cards.
(d) The incentive given by the 1. BHIM app allows the user to transfer
Government, to merchants for money to anyone with a UPI-enabled
promoting digital payments by bank account.
their customers through Point
2. While a chip-pin debit card
of Sale (PoS) machines and has four factors of
debit cards. authentication, BHIM app has
only two factors of
authentication.
2. With reference to the governance of
public sector banking in India, consider the Which of the statements given above
following statements is/are correct?
1. Capital infusion into public (a) 1 only (b) 2 only
sector banks by the (c) Both 1 and 2 (d) Neither 1
Government of India has nor 2
(a) The money which is
4. Which one of the following links all the ATMs tendered in courts of law to
in India ? defray the fee of legal cases
(b) The money which a creditor
(a) Indian banks' Association is under compulsionto
(b) National Securities Depository accept in settlement of his
Limited claims
(c) National Payments Corporation of (c) The bank money in the form
India of cheques, drafts, bills of
(d) Reserve Bank of India exchange, et(c)
(d) The metallic money in circulation in
a country
5. Consider the following statements:
1. Capital Adequacy Ratio (CAR) 8. Consider the following statements
is the amount that banks have
to maintain in the form of 1. The Fiscal Responsibility
their own funds to offset any and Budget Management (
loss that banks incur if the FRBM) Review Committee
account-holders fail to repay Report has recommended a
dues. debt to GDP ratio of 60% forthe
general (combined)
2. CAR is decided by each government by 2023,
individual bank. Which of the comprising 40% for the Central
statements given above Government and 20% for the
is/are correct? State Governments.
(a) 1 only (b) 2 only 2. The Central Government has
(c) Both 1 and 2 (d) Neither 1 domestic liabilities of 21% of GDP as
nor 2 compared to that of 49% of GDP of the
State Governments.
6. Consider the following statements:
3. As per the Constitution of India, it is
1. The Reserve Bank of India mandatory for a State to take the
manages and services Central Government's consent for
Government of India Securities raising any loan if the former owes any
but not any State Government outstanding liabilities to the latter.
Securities.
Which of the statements given
2. Treasury bills are issued by above is/are correct?
the Government of India and
there are no treasury bills (a) 1 only (b) 2 and
issued by the State 3 only
Governments. (c) 1 and 3 only (d) 1, 2
and 3
3. Treasury bills offer are
issued at a discount from the
par value. 9. Consider the following items:
Which of the statements given above 1. Cereal grains hulled
is/are correct?
2. Chicken eggs cooked
(a) 1 and 2 only (b) 3 Only
3. Fish processed and canned
(c) 2 and 3 only (d) 1, 2 and 3
4. Newspapers containing advertising
material Which of the above items
7. Which one of the following is/are exempted under GST(Goods and
statements correctly describes the Services Tax)?
meaning of legal tender money ?
(a) 1 only (b) 2 and
3 only 13. Consider the following countries :
(c) 1, 2 and 4 only (d) 1, 2, 3
and 4 1. Australia
2. Canada
10. Regarding Money Bill, which of the 3. China
followingstatements is not correct? 4. India
5. Japan
(a) A bill shall be deemed to be a 6. USA
Money Bill if it contains only Which of the above are among the
provisions relating to 'free-trade partners'of ASEAN ?
imposition, abolition,
remission, alteration or (a) 1, 2, 4 and 5 (b) 3, 4, 5 and
regulation of any tax. 6
(b) A Money Bill has provisions for (c) 1, 3, 4 and 5 (d) 2, 3, 4 and
the custody of the 6
Consolidated Fund of India
or the Contingency Fund of 14. As per the NSSO 70th Round
Indi(a) "Situation Assessment Survey of
(c) A Money Bill is concerned with Agricultural Households", consider
the appropriation of moneys out the following statements
of the Contingency Fund of
Indi(a) 1. Rajasthan has the highest
percentage share of
(d) A Money Bill deals with the
agricultural households
regulation of borrowing of money among its rural households.
or giving of any guarantee by the
Government of Indi(a) 2. Out of the total agricultural
households in the country, a
11. With reference to India's decision to little over 60 percent belong
levy an equalization tax of 6% on online to OBCs.
advertisement services offered by non-
resident entities, which of the following 3. In Kerala, a little over 60
statements is/are correct? percent of agricultural
households reported to have
1. It is introduced as a part of the received maximum income
Income Tax Act. from sources other than
2. Non-resident entities that offer agricultural activities.
advertisement services in India Which of the statements given above
can claim a tax credit in their is/are correct?
home country under the
"Double Taxation Avoidance (a) 2 and 3 only (b) 2 only
Agreements". (c) 1 and 3 only (d) 1, 2 and 3
Select the correct answer using the
code given below:
15. Consider the following:
(a) 1 only (b) 2 only
(c) Both 1 and 2 (d) 1. Areca nut
Neither 1 nor 2
2. Barley
12. India enacted The Geographical
Indications of Goods (Registration and 3. Coffee
Protection) Act, 1999 in order to comply
with the obligations to 4. Finger millet
(a) ILO (b) IMF 5. Groundnut
(c) UNCTAD (d) WTO
6. Sesamum
7. Turmeric 18. Increase in absolute and per capita real
GNP do not connote a higher level of
The Cabinet Committee on economic development, if
Economic Affair, has announced
(a) industrial output fails to
the Minimum Support Prick for
keep pace withagricultural
which ofthe above?
output.
(b) agricultural output fails to keep
(a) 1, 2, 3 and 7 only
pace withindustrial output.
(b) 2, 4, 5 and 6 only
(c) poverty and unemployment
(c) 1, 3, 4, 5 and 6 only
increase.
(d) 1, 2, 3, 4, 5, 6 and 7
(d) imports grow faster than
exports.
16. Consider the following statements
19. Despite being a high saving economy,
1. The quantity of imported capital formation may not result in
edible oils is more than the significant increase in output due to
domestic production of edible
oils in the lastfive years. (a) weak administrative
2. The Government does not machinery
impose any customs duty on (b) illiteracy
all the imported edible oils a (c) high population density
special case. (d) high capital-output ratio
Which of the statements given above
is/are correct 20. Which of the following is/are the
aim/aims of "Digital India" Plan of the
(a) 1 only (b) 2 only Government of India?
(c) Both 1 and 2 (d) Neither 1 1. Formation of India's own Internet
nor 2 companies likeChina di(d)
2. Establish a policy framework to
17. If a commodity is provided free encourage overseas multinational
to the public by the Government, corporations that collect Big Data to
then build their large data centres within our
national geographical boundaries.
(a) the opportunity cost is zero.
3. Connect many of our villages to the
Internet and bring Wi-Fi to many of our
(b) the opportunity cost is ignore(d) school, public placesand major tourist
(c) the opportunity cost is transferred from Select the correct answer using the
the consumers of the product to the tax- code given below
paying publi(c)
(a) 1 and 2 only (b) 3 only
(d) the opportunity cost is transferred from (c) 2 and 3 only (d) 1, 2
the consumers of the product to the and 3
Government.
