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-2


1. Refinance facility is provided by NABARD. Which institutions can avail this facility?
A. State cooperative banks
B. Regional rural banks
C. Commercial bank
D. All of the above
E. None of the above

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Correct Answer – D. All of the above

Explanation-NABARD’s refinance is available to state co-operative agriculture and rural development banks (SCARDBs), state co-operative banks (SCBs), regional rural banks (RRBs), commercial banks (CBs) and other financial institutions approved by RBI.

2.Which of the following statement(s) is/are correct regarding the Sustainable Development Goals (SDG)?
1. SDG is a collection of 17 goals and a total of 169 targets.
2. Each target has 1-3 indicators used to measure progress toward reaching the targets. In total, there are 304 indicators that will measure compliance.
3. The goals were developed to replace the Millennium Development Goals (MDGs) which ended in 2015.
4. Unlike the MDGs, the SDG framework does not distinguish between “developed” and “developing nations. Instead, the goals apply to all countries.

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

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Correct Answer – E. 1, 2, 3 and 4

3. The Cartagena Protocol that was adopted by the member nations in the year 2001 under the Convention on Biological Diversity (CBD) is related to which of the following?
A. Protection of the Ozone Layer
B. Safe transfer, handling and use of Living Modified Organisms (LMOs).
C. Limiting the emissions of the greenhouse gases
D. Transmission of advanced seed technology
E. Transfer of traditional knowledge

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Correct Answer – B. Safe transfer, handling and use of Living Modified Organisms (LMOs).

Explanation-The Cartagena Protocol on Biosafety to the Convention on Biological Diversity is an international agreement that aims to ensure the safe handling, transport, and use of living modified organisms (LMOs) resulting from modern biotechnology that may have adverse effects on biological diversity, taking also into account risks to human health. It was adopted on 29 January 2000 and entered into force on 11 September 2003.

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4. IMO is a specialized agency of the United Nations responsible for regulating shipping. It was established in 1948 in Geneva and came into force in 1959. Where is it headquartered?
A. Austria, Vienna
B. Geneva, Switzerland
C. London, UK
D. Berlin, Germany
E. New York, USA

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Correct Answer – C. London, UK

Explanation-International Maritime Organization (IMO):
•IMO is a specialized agency of the United Nations responsible for regulating shipping. It was established in 1948 in Geneva and came into force in 1959.
•Its headquarters are in London, United Kingdom. IMO has 171 member states and 3 associate members. India was one of earliest members of the IMO.
•IMO’s functions are to develop and maintain a comprehensive regulatory framework for shipping and its remit. This framework should address various areas like safety, legal matters, environmental concerns, technical co-operation, maritime security and efficiency of shipping.

5. Which of the following programs aims at enhancing community and private sector involvement in Government run elementary schools in India?
A. Saathiya
B. SAATH
C. Mitra
D. Shagun
E. Vidyanjali

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Correct Answer: E. Vidyanjali

Explanation-Vidyanjali – (School Volunteer Programme) is an initiative of the Ministry of Human Resource Development, Department of School Education & Literacy to enhance community and private sector involvement in Government run elementary schools across the country under the overall aegis of the Sarva Shiksha Abhiyan.

6. Which of the following can be an exception under the Most Favoured Nation (MFN) principle of the WTO?
A. A developed country granting special access to their markets to other developed countries.
B. A country granting special favors in trade to another country on political lines.
C. A developing country granting special access to their markets to developed countries.
D. The countries can set up a free trade agreement that applies only to goods traded within the group —discriminating against goods from outside
E. None of these

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  1. The countries can set up a free trade agreement that applies only to goods traded within the group —discriminating against goods from outside

Explanation-Under the WTO agreements, countries cannot normally discriminate between their trading partners.
• If a country grants someone a special favor (such as a lower customs duty rate for one of their products) then it must do the same for all other WTO members.
• This principle is known as most-favoured-nation (MFN) treatment.
• It is so important that it is the first article of the General Agreement on Tariffs and Trade (GATT), which governs trade in goods.

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7. The Ministerial Conference of the WTO takes place once in every …………………year(s)?

A. Two
B. Three
C. Four
D. One
E. None of the above

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Correct Answer: A. Two

Explanation-WTO decision-making happens at the Ministerial Conference, generally held every two years. There have been eleven such meetings since the inaugural conference in Singapore in 1996; the twelfth is scheduled to take place in June 2020 in Kazakhstan.

8. In Economic terms, the total market value of all final goods and services produced in a country in a given year is known as:-
A. GNI
B. GDP
C. inflation
D. PPP
E. wealth of a nation

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Correct Answer – B. GDP

Explanation-Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced in a period (quarterly or yearly) or income. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons.

9. GDP at factor cost is:-
A. GDP minus indirect taxes plus subsidies
B. GNP minus depreciation allowance
C. NNP plus depreciation allowance
D. GDP minus subsidies plus indirect taxes
E. None of the above

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Correct Answer – A. GDP minus indirect taxes plus subsidies

Explanation-GDP(FC) = GDP(MP) -Indirect Taxes + Subsidies
If the Government tries to raise the subsidies, the Difference between the GDP(FC) and GDP(FC) will increase.

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10. Per capita income is obtained by dividing National Income by :-
A. total population of the country
B. total working population
C. area of the country
D. volume of the capital used
E. None of the above

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Correct Answer – A. total population of the country

Explanation-Per capita income or average income measures the average income earned per person in a given area in a specified year. It is calculated by dividing the area’s total income by its total population.

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General Awareness (GA-GK) Questions Asked in RBI Grade B Prelims Exam 2019- Click Here
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