Indian Economy Mixed Practice — MCQs with Answers (Set 35)

Nilekani was the founding Chairman of the Unique Identification Authority of India (UIDAI), holding the rank of a Cabinet Minister, from 2009 to 2014. This is the body that built and rolled out Aadhaar.

Five associate banks — Bikaner & Jaipur, Hyderabad, Mysore, Patiala, and Travancore — merged in, with Bharatiya Mahila Bank.

RBI took the controlling stake in 1955; the government only took it over from RBI in 2008.

They merged on 27 January 1921 to form the Imperial Bank of India, renamed SBI in 1955.

The Bank of Calcutta was founded on 2 June 1806, later renamed Bank of Bengal.

The IFLDP provides ₹1,700 crore in funding through March 2026, covering infrastructure and cluster-development support.

He urged the industry to target at least $15 billion in exports, up from today’s $4-4.5 billion.

Manufacturers may import up to 4,500 pairs annually for R&D, marked ‘NOT FOR SALE’ and scrapped after use.

The amendments extended the legacy stock clearance deadline from 31 July 2026 to 31 July 2027.

India is the world’s second-largest exporter of leather garments, and the fourth-largest exporter of leather goods overall.

LIC was carved out of the general 100% FDI change; foreign investment in LIC stays capped at 20%.

BSE lists over 5,600 companies against NSE’s roughly 2,700, but NSE still handles far more of India’s actual day-to-day trading volume.

BSE demutualised in 2007, about 132 years after its 1875 founding — decades after younger rival NSE was built demutualised from the start.

BOLT (BSE Online Trading) was commissioned on 14 March 1995, about five months after NSE’s own electronic launch.

The Sensex has a base year of 1978-79 and a base value of 100, publishing since 1 January 1986.

Premchand Roychand and fellow brokers formally founded BSE as the Native Share and Stock Brokers’ Association, on 9 July 1875.

In the 2019 co-location case, SEBI found some brokers had gained preferential, faster access to NSE’s trading servers, and ordered a disgorgement of over ₹624 crore.

By 1999, NSE had fully phased out manual trading, the first Indian exchange to achieve this.

The NIFTY 50 launched on 22 April 1996 with a base value of 1,000, tracking 50 large companies across sectors.

NSE’s Equities segment launched on 3 November 1994, marking India’s first fully electronic stock trading system.

NSE was created following the 1991 recommendations of the Pherwani Committee, aimed at bringing transparency to Indian equity markets.

Poor Economics (2011) was Banerjee and Duflo’s first major joint book. Their second, Good Economics for Hard Times, followed in 2019.

Banerjee and his collaborators applied randomised controlled trials (RCTs), a technique borrowed from clinical drug trials, to test which anti-poverty interventions actually work.

Banerjee co-founded J-PAL (Abdul Latif Jameel Poverty Action Lab) in 2003, alongside Esther Duflo and Sendhil Mullainathan.

Banerjee shared the 2019 Nobel Prize in Economics with Esther Duflo and Michael Kremer, announced on 14 October 2019.