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-16


1. Consistent with the needs of branch licensing and financial inclusion policies as well as the need for requisite coverage of additional dimensions/features, RBI has announced which new reporting system for all cooperative banks?

  1. Comprehensive Information System for Banking Infrastructure
  2. Common Information System for Banking Information
  3. Comprehensive Information System for Banking Information
  4. Central Information System for Banking Infrastructure
  5. Common Information System for Banking Interface

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Correct Answer – D. Central Information System for Banking Infrastructure

Explanation- Consistent with the needs of branch licensing and financial inclusion policies as well as the need for requisite coverage of additional dimensions/features, a new reporting system, viz., Central Information System for Banking Infrastructure, has been web-deployed. Reserve Bank of India has overhauled the daily reporting system at cooperative banks after the collapse of Punjab and Maharashtra Bank following the uncovering of Rs.4000 crore fraud at the Mumbai based cooperative bank.

2. The Goiporia committee set up by the RBI looked into which of the following causes?

  1. Pension scheme for unorganized sector
  2. Customer Service by Banks
  3. Operations of Cash Credit System
  4. Development Finance Institutions
  5. Agriculture Credit System

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Correct Answer – B. Customer Service by Banks

Explanation- In September, 1990, a new committee was set up by RBI under the chairmanship of Shri M N Goiporia, Chairman, State Bank of India (a) To look into the causes of below par customer service in banks, (b) To identify structural and operational rigidities in the banking system, (c) Find ways and means to upgrade technology in banks, (d) Address deficiencies in bank service and suggest ways to improve work culture among bank employees.

3. “Hunar Haat” is an initiative of which Union Ministry of India?

  1. Ministry of Minority Affairs
  2. Ministry of Rural Development
  3. Ministry of Human Resource Development
  4. Ministry of Finance
  5. None of these

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Correct Answer:  A. Ministry of Minority Affairs

Explanation:  “Hunar Haat” is an initiative of the Union Ministry of Minority Affairs, Government of India. Under the initiative, stalls are set up, where master artisans, craftsmen and culinary experts from across the country participate, to show case their talents. It aims at providing employment opportunities to indigenous artisans and preserving the culture of our country.

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4.Which of the following statements is/are correct regarding the Gross Domestic Product (GDP)?

1). If the GDP of the country is rising, welfare will rise as a consequence.

2). Many activities in an economy are not evaluated in monetary terms and hence, they are not included in calculating GDP.

3). Gross Domestic Product (GDP) is the measure of the total production of final goods and services which takes place within the domestic territory of the country during a year.

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

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Correct Answer – B. 2 and 3 only

Explanation: GDP is the sum total of value of goods and services created within the geographical boundary of a country in a particular year. If the GDP of the country is rising, the welfare may not rise as a consequence. This is because the rise in GDP may be concentrated in the hands of very few individuals or firms. Many activities in an economy are not evaluated in monetary terms. For example, the domestic services women perform at home are not paid for. The exchanges which take place in the informal sector without the help of money are called barter exchanges. But since money is not being used here, these exchanges are not registered as part of economic activity.

5. Which became the first state in India to develop a website-based Migration Tracking System (MTS) application?

A. Nagaland
B. Tamil Nadu
C. Maharashtra
D. West Bengal
E. Delhi

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Correct Answer – C. Maharashtra

Explanation: Maharashtra became the first state in India to develop a website-based Migration Tracking System (MTS) application to track the movement of migrant workers through individual unique identity numbers.The MTS project aims to ensure the continuity of Integrated Child Development Services (ICDS) for migrant beneficiaries, such as children under the age of 18, lactating mothers, and pregnant women who are registered with Anganwadi centres.

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6.Population that maximizes the country’s Growth and Development?

  1. Sequential population
  2. Narrow population
  3. Optimal Population
  4. Excessive population
  5. Constrictive population
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Correct Answer – C. Optimal Population

Explanation: The optimum population is the size of a population that is the best out of several outcomes. There are, however, various opinions on what “optimal” means in this usage, resulting in various end-targets for it, but estimations usually take ecological sustainability and carrying capacity more or less into account. The optimum population is a concept where the human population is able to balance maintaining a maximum population size with optimal standards of living for all people.

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7. Which among the following is an example of frictional unemployment:-

  1. Unavailability of job due to change of job.
  2. Unavailability of job due to recessionary conditions
  3. Unavailability of job due to change in technology
  4. Unavailability of job due to change of season, typically in farm sector
  5. None of the above
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Correct Answer – A. Unavailability of job due to change of job.

Explanation- Frictional unemployment is the unemployment that results from time spent between jobs when a worker is searching for or transitioning from one job to another. It is sometimes called search unemployment and can be based on the circumstances of the unemployed individual.

8. HRIDAY is a Central Sector scheme which aims to preserve and rejuvenate the rich cultural heritage of the country. What does “A” stand for in the abbreviation HRIDAY?

  1. Amplification
  2. Addition
  3. Accretion
  4. Augmentation
  5. Augmentation

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Correct Answer – D. Augmentation

Explanation-The National Heritage Development and Augmentation Yojana (HRIDAY) aims to preserve and rejuvenate the rich cultural heritage of the country. Central government will meet the entire expenditure under the scheme (Central Sector Scheme). But, the states and local urban bodies are requested to supplement their resources for rapid development of heritage cities. The project will work through a partnership of Government, Academic Institutions and local community combining affordable technologies. The 12 cities selected for the scheme are Ajmer, Amritsar, Amravati, Badami, Dwarka, Gaya, Warangal, Puri, Kanchipuram, Mathura, Varanasi and Velankanni.

9. India is a mixed economy, what can be understood from it?

A. Indian economy is a mixture of both central and state government’s economy
B. Indian economy is a combination of both agricultural and industrial sector
C. Indian economy is a combination of both Private and Public sector
D. Indian economy is run by both the central government and International financial institutions
E. None of these

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Correct Answer – C. Indian economy is a combination of both Private and Public sector

Explanation-The economic system of India was a mixed economy in the pre-1991 years as it is in the post-1991 years, but the composition of state-market mix has gone for a change. In future, as the socio-economic and political factors will be changing, India will be redefining its mixed economy, accordingly.

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10. Which of the following is a dedicated agri-insurance company aiming to serve the needs of the farmers better and to move towards a sustainable actuarial regime?

  1. ARCIL
  2. AICIL
  3. GIC
  4. IRDA
  5. NABARD

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Correct Answer: B. AICIL

Explanation- The public-sector insurance company, Agriculture Insurance Company of India Limited (AICIL) was set up by the Government of India in December 2002. This company was responsible to look after the National Agriculture Insurance Scheme. Since January 2016, the company is looking after the newly launched PMFBY. Till the AICIL was not set up, the Agri-insurance responsibility of the Government was being looked after by the General Insurance Corporation (GIC). AIC also transacts other insurance businesses directly or indirectly concerning agriculture and its allied activities.

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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