RBI Grade B Economic & Social Issues (ESI) Quiz for Phase II 2021
RBI Grade B Economic & Social Issues (ESI) Quiz for Phase II 2021

RBI Grade B Economic & Social Issues (ESI) Quiz for Phase II 2021

Economic & Social Issues (ESI) Questions with the answer. RBI Grade B Economic & Social Issues (ESI) Notes PDF. RBI Grade B ESI Study Material PDF. RBI Economic & Social Issues (ESI) Books, PDF, Previous Papers, Question Set, and study material. As we all know that The Reserve Bank of India (RBI) conducted the RBI Grade B Phase I Exam for the post of Grade B (Grade ‘B’ (DR) – (General) & others). It’s the right time when you should start your RBI Grade B 2021 Phase II preparation with full pace.

If you are preparing for RBI Grade B 2021 ( Phase II), you will come across a section on “Economic & Social Issues (ESI)  wherein 65 questions will be there carrying 50 marks. Here we are providing you with “Economic & Social Issues (ESI) Questions For RBI Grade B” with answers based on the latest pattern of your daily practice.

“RBI Grade B” ESI Questions with Answer | Set-1


1. India’s first mega Coastal Economic Zone is to come up at which of the following ports?
A. Jawaharlal Nehru Port (JNPT)
B. Kandla Port
C. Kochi Port
D. Krishnapatnam Port
E. Kolkata Port

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Correct Answer: A. Jawaharlal Nehru Port (JNPT)

Explanation-The Union Government has given go-ahead for setting up India’s first mega coastal economic zone (CEZ) at Jawaharlal Nehru Port (JNPT) in Maharashtra. The first of its kind mega CEZ will stretch along north Konkan region spread across Mumbai, Thane, Pune, Nashik, and Raigarh. It is part of the Union government’s plan to develop 14 such industrial clusters in a bid to increase manufacturing activities and create more jobs.

2. Which of the following statement(s) is/are incorrect with regard to the Animal Welfare Board of India (AWBI)?
1. It was established in 1960 under Section 4 of The Wildlife Protection Act, 1972.
2. It advises the Government of India on animal welfare laws and promotes animal welfare in the country of India.
3. It was in the news as the government had made an announcement that the AWBI would be chaired by a senior MoEF official rather than somebody outside the government.

A. Only 1
B. Only 2
C. Only 3
D. Only 1 & 3
E. None of these

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Correct Answer – A. Only 1

Explanation-Statement 1 is incorrect since the AWBI was established in 1960 under Section 4 of The Prevention of Cruelty to Animals Act, 1960.The subject of Prevention of Cruelty to Animals is under the Ministry of Environment and Forests.

3. In the wake of the Bhopal Gas Tragedy, the Government of India enacted which of the following legislations?
A. The Wildlife Protection Act, 1972
B. The Prevention of Cruelty to Animals Act, 1960
C. The Forest Rights Act, 2006
D. The Forest Conservation Act, 1980
E. The Environment Protection Act, 1986

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Correct Answer – E. The Environment Protection Act, 1986

Explanation-Environment (Protection) Act of 1986- In the wake of the Bhopal gas tragedy (1984), the government of India enacted the Environment (Protection) Act of 1986. The purpose of the Act is to implement the decisions of the United Nations conference on the Human Environment of 1972, in so far as they relate to the protection and improvement of the human environment and the prevention of hazards to human beings, other living creatures, plants and property.

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4. The Finance Minister has proposed ___________ lakhs crore investment for Railway infrastructure between 2018 and 2030 to unleash faster development, completion of tracks, passenger freight services?
A. 40
B. 50
C. 60
D. 70
E. 80

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Correct Answer – B. 50

5. Which of the following statement(s) is/are incorrect with regard to the Intergovernmental Panel on Climate Change (IPCC)?
A. It was first established in 1988 by two United Nations organizations, the World Meteorological Organization (WMO) and the United Nations Environment Programme (UNEP).
B. Membership of the IPCC is open to all members of the WMO and UNEP.
C. The IPCC produces reports that support the United Nations Framework Convention on Climate Change (UNFCCC).
D. All the above
E. None of these

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Correct Answer: A. An order to pay

Explanation-Intergovernmental Panel on Climate Change:
• It is a scientific intergovernmental body under the auspices of the United Nations.
• It was set up at the request of member governments.
• It was first established in 1988 by two United Nations organizations, the World Meteorological Organization (WMO) and the United Nations Environment Programme (UNEP).

6. The IMF is headquartered in?
A. New York, USA
B. Washington DC, USA
C. Geneva, Switzerland
D. Vienna, Austria
E. Paris, France

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Correct Answer: B. Washington DC, USA

Explanation-The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., of “189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

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7. Which of the following factors contribute to the upswing in the economic growth of a country?
1. Rise in the productive capacity of an economy along with an increase in the aggregate demand.
2. Availability of skilled workforce in the country.
3. A decreasing consumer and business confidence.
4. Technological development helping in increasing productivity with the limited amount of resources.

A. 1, 2, 3
B. 1, 2, 4
C. 2, 3, 4
D. 1, 3, 4
E. 1, 2, 3, 4

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Correct Answer – B. 1, 2, 4

Explanation-The term economic growth is associated with economic progress and advancement. Economic growth can be defined as an increase in the capacity of an economy to produce goods and services within a specific period of time. In economics, economic growth refers to a long-term expansion in the productive potential of the economy to satisfy the wants of individuals in the society.
Statement 4:
• Countries that have worked in the field of technological development grow rapidly as compared to countries that have less focus on technological development.
• The selection of right technology also plays an important role in the growth of an economy.
• On the contrary, an inappropriate technology- results in high cost of production.

8. Few statements have been provided. Which of these does not use the approach of Human Development?
A. Economic Growth automatically leads to the improvement in the quality of life of individuals.
B. It is important to educate girls, but it is not safe for them to acquire a job. So, it is advisable not to consider them for jobs, especially for ones that requires them to relocate.
C. The government has instructed its citizens to pursue higher education only in the field of Science.
D. All the above
E. None of the above

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Correct Answer – D. All the above

Explanation- Statement 1: The human development approach focuses on improving the lives people lead rather than assuming that economic growth will lead, automatically, to greater opportunities for all. Income growth is an important means to development, rather than an end in itself.
Statement 2: Opportunities: Human Development is about giving people more freedom and opportunities to live lives they value. In effect, this means developing people’s abilities and giving them a chance to use them.
Statement 3: Choices: Human development is, fundamentally, about more choice. It is about providing people with opportunities, not insisting that they make use of them. No one can guarantee human happiness, and the choices people make are their own concern.

9. The literacy rate in India according to 2011 census is 74.04 %; what is the rural literacy rate, according to the same?
A. 56%
B. 68%
C. 71%
D. 73%
E. None of these

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Correct Answer – D. 73%

Explanation: According to the 2011 census, in rural areas was pegged at 71 per cent last year, compared to 86 per cent in urban areas, while among the age group of seven years and above. the male literacy rate was registered at 83 per cent vis-a-vis the female literacy rate of 67 per cent.

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10. Which bank has launched a digital fixed-deposit (FD) product named ‘Express FD’ by investing a minimum of Rs 5,000 up to Rs 90,000, for a tenure of 6 to 12 months?
A. Canara Bank
B. Bank of India
C. State Bank of India
D. Axis Bank
E. None of these

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Correct Answer – D. Axis Bank

Explanation-Private sector lender Axis Bank has recently unveiled a new ‘Express FD’ scheme. Express FD is a digital fixed deposit product which allows customers to open a fixed deposit account online without investing in a savings account in Axis Bank. Customers can open an Express FD account with Axis Bank by investing a minimum of ₹5,000. The investment can go up to ₹90,000. For Express FD, the bank is offering a short tenure of 6 to 12 months. The interest rate for the Axis Bank Express FD will be the same which is applicable to the regular FD accounts of the same tenure

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