UPSC Economic Questions and Answers

UPSC Economic Questions and Answers

The civil services exam is one of the toughest examinations conducted in the country, and economy questions constitute a major of the two written phases of the examination. At BYJU’S we bring to you a compiled list of Economy questions along with answers that are suitable from the prelims and mains perspective.

These answers have been provided by UPSC experts for the candidate’s assistance, without any indirect or ambiguous information. Questions based on sustainable development, GDP, economic growth, taxation, etc. are included in the economy syllabus and the list of questions provided below will focus on the same.

The compiled list of questions given below comes with straightforward and crisp answers, with the IAS mains General Studies-III paper syllabus as the focal point. Aspirants can refer to these questions and answers and familiarize themselves with the depth of important economic topics as per the UPSC Syllabus.

The company should have already been registered under the Companies Act 1956 as either a public limited company or private limited company, if...
The legal entities which largely produce services and goods for markets are known as non-financial corporations. The goods and services produced...
Accepting non-chequable deposits, borrowing money from other financial institutions are the main sources from which Non-Banking Financial...
There are some advantages of taking a loan from a Non Banking Financial Company (NBFC). As per the Financial Stability Report of RBI,...
HDFC is an Indian financial services company. HDFC is the parent company of HDFC Bank. The NBFC arm of HDFC is HDB Financial Services. By assets...
Type 1 - NBFC-ND are the NBFC’s which do not intend to have a customer interface in the future, not having customer interface, not...
The 4 most common types of financial institutions are commercial banks, brokerage firms, insurance companies, investment banks.You can read about...
Paytm is fintech and its subsidiary Paytm Entertainment could be classified as a Non Banking Financial Company (NBFC). As per rules of the RBI, a...
Yes, Non Banking Financial Companies (NBFC’s) businesses are profitable. This can be seen in the recently published Financial Stability...
Every Indian citizen is eligible to open a Pradhan Mantri Jan Dhan Yojana (PMJDY) account. PMJDY is a National Mission for Financial Inclusion....
PMJDY is a National Mission for Financial Inclusion. PMJDY account holders will be given a RuPay Debit card. The main idea is that an unbanked...
The examples of Non-Banking Financial Companies are Private Equity Funds, Hedge Funds, Insurance Companies, Money Market Funds, Mortgage Lenders,...
Small Finance Banks can accept all types of deposits like current accounts, savings, Recurring Deposits (RD), Fixed Deposits (FD). In the case of...
Yes, the Payment banks have to maintain Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). At Least 75% of the demand deposits of the...
As per one of the studies conducted, State Bank of India (SBI) was the most popular for online transactions. You can read about the RBI - Reserve...
The classification of advances or loans which are in arrears or default are known as Non Performing Assets (NPA). The loan is considered to be...
The 3 different categories of Non Performing Assets (NPA’s) are Loss Asset, Doubtful Asset, Substandard Asset. When the amount has not been...
Net non-performing assets = Gross NPAs – Provisions is the formula for calculating Non Performing Assets (NPA). You can read about the Non...
Many methods have been used to manage non-performing assets. It was done through the establishment of Lok Adalats, credit information bureau,...
The causes behind Non Performing Assets (NPA’s) are varied. Some of the causes are high degree of fraud, crony capitalism, various macro...