RBI Grade B Economic & Social Issues (ESI) Quiz for Phase II 2023
RBI Grade B Economic & Social Issues (ESI) Quiz for Phase II 2023

RBI Grade B Economic & Social Issues (ESI) Quiz for Phase II 2023

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 RBI Grade B Notification 2023 is out. 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 2023 Phase II preparation at full pace.

If you are preparing for RBI Grade B 2023 ( 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.

Economic & Social Issues (ESI) Questions For RBI Grade B | Set-15


1. What is the full form of USTTAD scheme which is implemented by Ministry of Minority Affairs?

  1. Updating the Skills and Training in Traditional Arts/Crafts for Development
  2. Upgrading the Skills & Training of Traditional Artisans/Craftsmen for Development
  3. Upgrading the Skills and Training in Traditional Arts/Crafts for Development
  4. Updating the Skills, Training & Technology in Arts/Crafts for Development
  5. Upgrading the Skills & Training of Traditional Artisans/Craftsmen for Development

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Correct Answer – C. Upgrading the Skills and Training in Traditional Arts/Crafts for Development

Explanation- Union Government has launched the Upgrading the Skills and Training in Traditional Arts/Crafts for Development (USTTAD) Scheme. The Scheme aims at upgrading Skills and Training of minority communities by preservation of traditional ancestral Arts and Crafts. It also envisages boosting the skill of craftsmen, weavers and artisans who are already engaged in the traditional ancestral work. Under the scheme, assistance will be provided to traditional artisans to sell their products in order to make them more compatible with modern markets. The scheme will also establish linkages of traditional arts/crafts with the national and international market and ensure dignity of labour. It is fully funded by Union Government and Union Ministry of Minority Affairs is nodal agency in implementing it.

2. Which organization releases the Annual Status of Education Report (ASER) in India?

  1. Ministry of Human Resources and Development
  2. NITI Aayog
  3. CBSE
  4. NGO ‘Pratham’
  5. None of these

Show Correct Answers

Correct Answer:  D. NGO ‘Pratham’

Explanation:  The Non-Governmental organisation, called ‘Pratham’ releases the Annual Status of Education Report (ASER) in India. The ASER for the year 2019 was released recently. The report states that five-year-old children in private institutions performed better in learning activities than the same-aged children in Government-run schools and anganwadis.

3. Directions : Read the following caselet and answer the questions.

The Union government has taken decisive actions to grasp the nettle of the Twin Balance Sheet (TBS) challenge, arguably the festering binding constraint on Indian growth prospects. On the 4 R’s of the TBS—recognition, resolution, recapitalization, and reforms—recognition was advanced further, while major measures were taken to address two other R’s. The new Indian Bankruptcy Code (IBC) has provided a resolution framework that will help corporates clean up their balance sheets and reduce their debts. And in another critical move, the government announced a large recapitalization package (about 1.2 percent of GDP) to strengthen the balance sheets of the public sector banks (PSBs). As these twin reforms take hold, firms should finally be able to resume spending and banks to lend especially to the critical, but-currently-stressed sectors of infrastructure and manufacturing.

The Union government has decided to infuse what amount in the Public Sector Banks (PSBs) to resurrect them from the mounting NPAs?

  1. Rs 2.1-lakh-crores
  2. Rs 1.5-lakh-crores
  3. Rs 2.9-lakh-crores
  4. Rs 3.4-lakh-crores
  5. Rs 1.2-lakh-crores

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Correct Answer – B. Rs 1.5-lakh-crores

Explanation: The Centre announced a Rs 2.1-lakh-crore capital infusion plan for state-owned banks and an ambitious road development programme to boost the economy. Banks burdened by bad loans will get Rs 1.35 lakh crore from bonds, Rs 18,000 crore from the Budget and raise the remaining Rs 58,000 crore through share sales.

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4. Population Research Centres (PRCs) are established and funded by ________.

  1. Ministry of Home Affairs
  2. Ministry of Health and Family Welfare
  3. Ministry of Rural Development
  4. Ministry of Social Justice and Empowerment
  5. Ministry of Women and Child Development

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Correct Answer – B. Ministry of Health and Family Welfare

Explanation- The Ministry of Health and Family Welfare (MoHFW) established a network of Population Research Centres (PRCs) with the mandate to provide, inter alia, critical research-based inputs related to the Health and Family Welfare Programs and Policies at the national and state levels. Activities of PRCs are monitored by the Ministry of Health and Family Welfare through regular periodical progress reports and meeting, seminars etc. Besides, guidance is also provided by various institutions as well as committees both at State and national level constituted by the Ministry from time to time. Administratively, these PRCs are under the control of their host University/Institutions where they are located. However, as the PRCs are established as well as fully funded by the Ministry of health & family Welfare, they are governed by the guidelines issued by the Ministry from time to time.

5. As per a report published by Greenbone Sustainable Resilience, which state has topped the list of states hit by global medical data leak?

A. Maharashtra
B. Karnataka
C. Gujarat
D. Bihar
E. Punjab

Show Correct Answers

Correct Answer: A. Maharashtra

Explanation- Maharashtra tops the list of states hit by global medical data leak.

  • Report was published by Greenbone Sustainable Resilience,a German Cybersecurity Firm.
  • Greenbone revealed a widespread data leak of CT scans,X Rays,MRIs and even pictures of the patients.
  • Greenbone has classified countries in three categories as good,bad and ugly.
  • India ranks second in Ugly category,topped by U.S.
  • Maharashtra: State Animal – Indian giant squirrel

State Bird – Yellow-footed green pigeon

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6.Consider the following statements with respect to Microfinance Institution (MFI):

  1. It is a form of financial service which provides small loans services to poor and low-income households.
  2. The microcredits are delivered through the Scheduled commercial banks (SCBs) only.
  3. Indian microfinance sector has witnessed significant growth over the past two decades.

Which of the statements given above is/are correct?

  1. 1 and 3 only
  2. 2 only
  3. 2 and 3 only
  4. 1, 2 and 3
  5. None of these
Show Correct Answers

Correct Answer:  A. 1 and 3 only

Explanation:  Microfinance is a form of financial service which provides small loans and other financial services to poor and low-income households. Hence, statement 1 is correct.

  • Indian microfinance sector has witnessed phenomenal growth over the past two decades in terms of increase in both the number of institutions providing microfinance and the quantum of credit made available to the microfinance customers. Hence, statement 3 is correct.
  • Microfinance (Microcredit) is delivered through a variety of institutional channels viz.,
    • Scheduled commercial banks (SCBs) (including small finance banks (SFBs) and regional rural banks (RRBs)).
    • Cooperative banks
    • Non-banking financial companies (NBFCs)
    • Microfinance institutions (MFIs) registered as NBFCs as well as in other forms.

Hence, statement 2 is not correct.

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7. In the current study, published in the journal Science Advances, researchers found fossilised remains of microscopic mushroom parts called mycelium in rocks whose age is between ________ million years.

  1. 540-600
  2. 610-690
  3. 715-810
  4. 890-910
  5. 930-1002
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Correct Answer – C. 715-810

Explanation- Researchers have discovered the oldest ever mushroom fossil to be identified.  According to the scientists, the oldest confirmed mushroom fossil until now was dated to 460 million years ago. In the current study, published in the journal Science Advances, researchers found fossilised remains of microscopic mushroom parts called mycelium in rocks whose age is between 715-810 million years.

8. Which of the following statements are correct in terms of Fiscal Consolidation of a Government:

I. Purpose is to maintain good fiscal health

II. Cut debt and wasteful expenditure.

III. Improve revenue opportunities.

IV. Sustain Current Account Deficit.

  1. I, III and IV
  2. II, III and IV
  3. II and III
  4. I, II and III
  5. All of the above

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Correct Answer – D. I, II and III

Explanation- Fiscal consolidation is a process where government’s fiscal health getting improved indicated by reduced fiscal deficit which is manageable and bearable for the economy. Improved tax revenue realization and better aligned expenditure are thus components of fiscal consolidation. According to Financial time’s lexicon, “Fiscal consolidation is a reduction in the underlying fiscal deficit. It is not aimed at eliminating fiscal debt’s adverse effects. For the government it causes interest payment burden and for the economy it produces inflationary effect, and rising interest rate in the economy.

9. Which of the following statements is/are correct about Multidimensional poverty Index?

A. It identifies how people are being left behind across three key dimensions i.e Health, Education and Standard of living
B. MPI was co-designed and launched by the United Nations Development Programme (UNDP) Human Development Report Office (HDRO) and the Oxford Poverty and Human Development Initiative (OPHI).
C. Deprivation in at least two third of the weighted indicators means multidimensional poor
D. A and C only
E. It is composed of 5 indicators

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Correct Answer – D. A and C only

Explanation: Multidimensional Poverty Index:MPI was co-designed and launched by the United Nations Development Programme (UNDP) Human Development Report Office (HDRO) and the Oxford Poverty and Human Development Initiative (OPHI).It was first published in 2010.It identifies how people are being left behind across three key dimensions i.e Health, Education and Standard of living.It is composed of 10 indicators.Deprivation in at least one third of the weighted indicators means multidimensional poor.MPI can help the effective allocation of resources by making possible the targeting of those with the greatest intensity of poverty.

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10. Consider the following statements with respect to ‘Wholesale Price Index (WPI)’, and identify the correct statements?

1) In WPI basket, Services like housing, education, medical care, recreation etc. are also included.

2) The Ministry of Statistics and Programme Implementation (MOSPI) calculates the WPI.

3) Under WPI, Manufactured Products have maximum weightage.

  1. only 1
  2. only 2 and 3
  3. only 3
  4. only 1 and 3
  5. All I, 2 and 3

Show Correct Answers

Correct Answer – C only 3

Explanation: Statement 1 is incorrect as In WPI basket, Services are not included. Statement 2 is incorrect as In India, the Office of Economic Advisor (OEA), Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry calculates the WPI. Statement 3 is correct as Under WPI, Manufactured Products have maximum weightage.

Economic & Social Issues (ESI) Quizzes For RBI Grade B 2023

Set-15 Set-14 Set-13 Set-12 Set-11
Set-10 Set-9 Set-8 Set-7 Set-6
Set-5 Set-4 Set3 Set-2 Set-1

We already published RBI Grade B Phase-II Cracker eBook 2023 – Economic & Social Issues (ESI) (Theory Notes & 1700+ MCQ)”. You can Download this EBook through the below link-

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