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FAQs Indian Economy Finance

Banking IBPS PO Clerical Insurance Railways UPSC SSC CTET NDA CDS RRB Exams General Knowledge Super Fast Revision for Competitive Examinations.

What are Five Year Plans?

The First Five Year Plan was for the period 1951 - 56 and the focus was on Agriculture Development and Growth Rate was 3.6%.

Twelfth Five Year Plan was for the period 2012 -2017 and targeted Rapid Economic Growth.

What is Green Revolution?

Green Revolution started in early 1960.

Use of High Yielding Variety Seeds, New Technologies and Chemical Fertilizers targeted increase of food grain production.

Who are credited with Green Revolution in India?

Dr. Norman Borlaug and Dr.M.S.Swaminathan are credited with Green revolution.

What is Yellow Revolution?

Yellow Revolution is related to Oil Seeds Production.

What is White Revolution?

White Revolution is related to Milk Production.

What is Blue Revolution?

Blue revolution is related to Fish Production.

What is Pink Revolution?

Pink Revolution is related to Meat / Shrimp Production

What is Grey Revolution?

Grey Revolution is related to Wool Production.

What is Golden Revolution?

Golden Revolution is related to Horticulture.

Iron and Steel Industry

Where was the First Steel Industry set up in India?

West Bengal – Bengal Iron Works Company in the year 1870.

Which was the First large scale Steel Plant in Private Sector?

TISCO in Jamshedpur (1907) and IISCO in Burnpur (1919).

Which was the First Public Sector Steel Unit?

Visveshvaraya Iron and Steel Works in Bhadrawati.

Where are the Public Sector Steel Plants in India?

Rourkela, Bhilai, Durgapur, Bokaro, Salem, Vishakhapatnam, Burnpur and Vijainagar.

Jute Industry

Where was the First Industrial Jute Unit?

Reshra in West Bengal set up in the year 1855.

Where was the First Oil Well in India?

The First Oil Well was Digboi, Assam in the year 1889.

When was ONGC Set Up?

ONGC set up in Dehradun the year 1956.

What is the Structure of Taxes?

Direct Taxes and Indirect Taxes

When was GST Introduced?

Indirect tax - Goods and Services Taxes was introduced on 1st, July, 2017.

What is Reserve Bank of India?

It is the Central Bank.

RBI Established in 1935 with Capital – 5 crores.

RBI Nationalized on 1st, January, 1949.

What are the Functions of RBI?

Notes Issuance

Banker to the government

Banker’s Bank

Credit Controller

Foreign Exchange Custodian

Monetary Policy – Formulation and administration

Acts as an agent of GOI at IMF and World Bank.

What is SBI – State Bank of India?

State Bank of India (SBI) is an Indian Multinational Bank. It is a Public Sector Banking and Financial Services Company.

When was SBI Formed?

SBI was created in 1921.

What was SBI originally known as?

SBI was called Imperial Bank of India.

When was SBI Nationalized?

SBI was nationalized in the year 1955 and name changed to State Bank of India.

Which is the Largest Commercial Bank in Public Sector?

SBI – State Bank of India.

Who is the First Lady Chair Person of SBI?

Arundhati Bhattacharya was first woman to be appointed Chairperson of the SBI.

In which year did Nationalization of Banks took Place?

Nationalization of 14 Banks was done in the year 1969. 6 more banks were nationalized in 1980.

What is LIC?

LIC stands for Life Insurance Corporation

When was LIC established?

LIC was established in the year 1956

Where is the Head Office of LIC Located?

The Head office of LIC is in Mumbai.

What is SEBI?

SEBI stands for Securities and Exchange Board of India

When was SEBI established?

SEBI was established in 1988 and given Statutory Status in 1992 by an Act of Parliament.

What does SEBI do?

SEBI is the Regulatory Authority of Stock Exchanges.

When was demonetization of Rs 500 and Rs 1000 Bank notes announced?

On 8 November 2016, the Government of India announced demonetization of Rs 500 and Rs 1,000 banknotes.

New note of Rs 2000 and Rs 200 issued later

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