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.

An asset which does not have more than normal risk attached to the business, and the one which does not disclose any problems is known as a...
There are various avenues for recovery of Non Performing Asset (NPA), they are Insolvency and Bankruptcy Code, the SARFAESI Act, Asset...
As per Reserve Bank of India (RBI), a ‘non-performing asset’ (NPA) was defined as a credit facility in respect of which the interest...
When the amount has not been written off wholly but loss has been identified by the RBI, or external auditor, or internally by the bank, then...
Non Performing Asset (NPA) provisions can be made by banks without making any allowance for DICGC/ECGC guarantee cover and securities available,a...
Banks handle NPA through various ways like use of Lok Adalats, Debt Recovery Tribunals, Asset Reconstruction etc. On September 16, 2021, Union...
There could be a massive rise in Non Performing Assets (NPA’s) due to COVID-19 pandemic. As the economic activity had come to a standstill...
There are a total of 6 members in the Monetary Policy Committee (MPC). Three of the members of the Monetary Policy Committee are external...
No, the Payment Banks cannot give loans. Payment Banks are also not authorised to issue any credit card, and cannot accept recurring or fixed...
In order to detect irregularities or lapses in a timely manner, to make sure that prescribed procedures and systems are adhered to, Ghosh...
As of March 2021, with total assets of more than 15 trillion Indian rupees, HDFC Bank is the largest private sector bank in India. If we consider...
The Narasimham Committee recommended setting up a three tier banking structure in India. This three tier structure involves one tier having a...
The Nariman committee was appointed by the Reserve Bank of India (RBI) in 1969, soon after the nationalisation of 14 banks. The Nariman Committee...
The Narasimham Committee II submitted its recommendations in 1998 to the former Finance Minister of India Yashwant Sinha. The Narasimham...
The Narasimham Committee had 9 members. This Committee was appointed by the Government of India in 1991. It was a Committee on the Financial...
Maidavolu Narasimham was the chairman of the First Narasimham Committee. He was the 13th Governor of Reserve Bank of India (RBI). His tenure as...
The Nachiket Mor committee was headed by Nachiket Mor. This committee was formed by former Reserve Bank of India Governor Raghuram Rajan in 2013....
The Tandon Committee was formed with the objective of framing guidelines for commercial banks for ensuring proper end-use of funds, for...
The percentage of cash required to be kept in reserves as against the bank's total deposits, is called the Cash Reserve Ratio. You can read about...
Even after Independence, many people in rural areas were completely dependent on private money lenders for any kind of financial assistance....