1. What is money in Economics?
A medium of exchange, store of value, and unit of account
2. What are the main functions of money?
Medium of exchange, measure of value, store of value
3. What is fiat money?
Money with no intrinsic value, backed by government decree
4. What is commodity money?
Money with intrinsic value, like gold or silver
5. What is legal tender?
Money that must be accepted for payment by law
6. What is the currency of India?
Indian Rupee (INR)
7. What is the symbol of the Indian Rupee?
â‚ą
8. When was the Indian Rupee symbol adopted?
2010
9. Who issues currency notes in India?
Reserve Bank of India (RBI)
10. Which denomination of coins is issued by the Government of India?
All coins
11. What is the Money Supply?
The total amount of money available in an economy
12. What are the components of money supply in India?
Currency with public, demand deposits, and time deposits
13. What is M0 in money supply?
Monetary base or reserve money
14. What is M1 in money supply?
Currency with public + demand deposits
15. What is M2 in money supply?
M1 + post office savings deposits
16. What is M3 in money supply?
M1 + time deposits
17. What is M4 in money supply?
M3 + all post office deposits
18. Which measure of money supply is also called broad money?
M3
19. What is high-powered money?
Currency issued by RBI and government, also called reserve money
20. What is the Reserve Bank of India (RBI)?
India’s central bank
21. When was the RBI established?
April 1, 1935
22. Where is the headquarters of RBI located?
Mumbai
23. Who is the current Governor of RBI as of May 2025?
Shaktikanta Das
24. What is the main function of RBI?
To regulate money supply and maintain financial stability
25. What is the Monetary Policy?
RBI’s policy to control money supply and interest rates
26. Who decides the Monetary Policy in India?
Monetary Policy Committee (MPC)
27. How many members are in the Monetary Policy Committee?
Six
28. What is the Cash Reserve Ratio (CRR)?
The percentage of bank deposits to be kept with RBI
29. What is the Statutory Liquidity Ratio (SLR)?
The percentage of deposits banks must invest in government securities
30. What is the current CRR as of May 2025?
4.5%
31. What is the current SLR as of May 2025?
18%
32. What is the Repo Rate?
The rate at which RBI lends to commercial banks
33. What is the Reverse Repo Rate?
The rate at which RBI borrows from commercial banks
34. What is the current Repo Rate as of May 2025?
6.5%
35. What is the current Reverse Repo Rate as of May 2025?
3.35%
36. What is the Marginal Standing Facility (MSF)?
A facility for banks to borrow from RBI in emergencies
37. What is the Bank Rate?
The rate at which RBI lends to banks without collateral
38. What is Open Market Operations (OMO)?
RBI’s buying or selling of government securities to control money supply
39. What happens when RBI sells government securities in OMO?
Money supply decreases
40. What happens when RBI buys government securities in OMO?
Money supply increases
41. What is Quantitative Credit Control?
Measures to control the total volume of credit
42. What is Qualitative Credit Control?
Measures to control the direction of credit
43. What is an example of a quantitative credit control tool?
Repo Rate
44. What is an example of a qualitative credit control tool?
Margin requirements
45. What is the Banking Regulation Act?
An act to regulate banking in India
46. When was the Banking Regulation Act passed?
1949
47. What is a commercial bank?
A bank that accepts deposits and provides loans
48. What is the largest commercial bank in India?
State Bank of India (SBI)
49. What is a public sector bank?
A bank where the government holds a majority stake
50. How many public sector banks are there in India as of 2025?
12
51. What is a private sector bank?
A bank owned by private entities
52. Which is the largest private sector bank in India?
HDFC Bank
53. What is a cooperative bank?
A bank organized and operated on cooperative principles
54. What is a regional rural bank (RRB)?
A bank to serve rural areas
55. When were RRBs established in India?
1975
56. Who sponsors RRBs?
Public sector banks
57. What is the shareholding structure of RRBs?
50% Central Government, 35% sponsor bank, 15% state government
58. What is a small finance bank?
A bank focused on financial inclusion for underserved sections
59. What is a payments bank?
A bank for small transactions and savings, no lending
60. What is an example of a payments bank?
Airtel Payments Bank
61. What is a foreign bank?
A bank headquartered outside India
62. What is an example of a foreign bank in India?
Citibank
63. What is the Nationalisation of Banks?
Government taking over private banks
64. When were 14 major banks nationalized in India?
1969
65. When were 6 more banks nationalized in India?
1980
66. What is the State Bank of India (SBI)?
India’s largest public sector bank
67. When was SBI established?
July 1, 1955
68. What was the Imperial Bank of India?
The predecessor of SBI
69. What is the full form of ICICI?
Industrial Credit and Investment Corporation of India
70. What is the full form of HDFC?
Housing Development Finance Corporation
71. What is a Non-Banking Financial Company (NBFC)?
A company providing financial services without a banking license
72. What is an example of an NBFC in India?
Bajaj Finance
73. Who regulates NBFCs in India?
Reserve Bank of India
74. What is the difference between a bank and an NBFC?
Banks accept demand deposits; NBFCs do not
75. What is the full form of SIDBI?
Small Industries Development Bank of India
76. What is the role of SIDBI?
To provide finance to MSMEs
77. What is the full form of NABARD?
National Bank for Agriculture and Rural Development
78. When was NABARD established?
July 12, 1982
79. What is the role of NABARD?
To promote rural and agricultural development
80. What is the full form of EXIM Bank?
Export-Import Bank of India
81. What is the role of EXIM Bank?
To finance and promote India’s international trade
82. What is the full form of NHB?
National Housing Bank
83. What is the role of NHB?
To promote housing finance
84. What is the full form of IIBI?
Industrial Investment Bank of India
85. What is the role of IIBI?
To provide long-term finance to industries
86. What is a development bank?
A bank providing long-term finance for development projects
87. What is an example of a development bank in India?
NABARD
88. What is a financial institution?
An organization dealing with financial transactions
89. What is the Securities and Exchange Board of India (SEBI)?
The regulator of India’s securities market
90. When was SEBI established?
1992
91. What is the Insurance Regulatory and Development Authority of India (IRDAI)?
The regulator of the insurance sector
92. When was IRDAI established?
1999
93. What is the Pension Fund Regulatory and Development Authority (PFRDA)?
The regulator of pension funds
94. What is the National Pension System (NPS)?
A voluntary pension scheme
95. What is the full form of EPFO?
Employees’ Provident Fund Organisation
96. What is the role of EPFO?
To manage provident fund and pension schemes
97. What is the full form of ESIC?
Employees’ State Insurance Corporation
98. What is the role of ESIC?
To provide social security to workers
99. What is a stock exchange?
A marketplace for trading securities
100. What is the largest stock exchange in India?
National Stock Exchange (NSE)
101. What is the Bombay Stock Exchange (BSE)?
India’s oldest stock exchange
102. When was BSE established?
1875
103. What is the Sensex?
An index of 30 major stocks on BSE
104. What is the Nifty?
An index of 50 major stocks on NSE
105. What is a mutual fund?
An investment pooling money from many investors to buy securities
106. What is a share?
A unit of ownership in a company
107. What is a bond?
A loan made to a company or government in exchange for interest
108. What is a debenture?
An unsecured bond issued by a company
109. What is a dividend?
A portion of a company’s profits paid to shareholders
110. What is a derivative?
A financial contract whose value depends on an underlying asset
111. What is a futures contract?
An agreement to buy or sell an asset at a future date
112. What is an option contract?
The right to buy or sell an asset at a specified price
113. What is a hedge?
An investment to reduce the risk of price fluctuations
114. What is speculation?
Investing in high-risk assets for potential high returns
115. What is arbitrage?
Buying and selling in different markets to profit from price differences
116. What is a market index?
A measure of the performance of a group of stocks
117. What is a bull market?
A market where prices are rising
118. What is a bear market?
A market where prices are falling
119. What is a primary market?
A market where new securities are issued
120. What is a secondary market?
A market where existing securities are traded
121. What is an Initial Public Offering (IPO)?
The first sale of a company’s shares to the public
122. What is a Follow-on Public Offering (FPO)?
Additional shares issued by a listed company
123. What is a rights issue?
Shares offered to existing shareholders at a discount
124. What is a bonus issue?
Free additional shares given to existing shareholders
125. What is a stock split?
Dividing existing shares into more shares to increase liquidity
126. What is a credit rating?
An assessment of a borrower’s creditworthiness
127. What is a credit rating agency in India?
CRISIL
128. What is the full form of CRISIL?
Credit Rating Information Services of India Limited
129. What is a depository?
An institution holding securities in electronic form
130. What are the two depositories in India?
NSDL and CDSL
131. What is the full form of NSDL?
National Securities Depository Limited
132. What is the full form of CDSL?
Central Depository Services Limited
133. What is a Demat account?
An account to hold securities in electronic form
134. What is a trading account?
An account to buy and sell securities
135. What is a portfolio?
A collection of investments held by an individual
136. What is a merchant bank?
A bank providing advisory and underwriting services
137. What is a venture capital?
Funding provided to startups with high growth potential
138. What is a private equity?
Investment in private companies for long-term growth
139. What is a hedge fund?
An investment fund using advanced strategies for high returns
140. What is a real estate investment trust (REIT)?
A trust investing in income-generating real estate
141. What is an infrastructure investment trust (InvIT)?
A trust investing in infrastructure projects
142. What is a financial inclusion?
Providing access to financial services to all
143. What is the PM Jan Dhan Yojana?
A scheme for financial inclusion
144. When was PM Jan Dhan Yojana launched?
August 2014
145. What is the objective of PM Jan Dhan Yojana?
To provide banking services to all households
146. What is the Mudra Yojana?
A scheme to provide loans to micro-enterprises
147. What is the full form of MUDRA?
Micro Units Development and Refinance Agency
148. What are the three loan categories under Mudra Yojana?
Shishu, Kishor, and Tarun
149. What is the maximum loan amount under Mudra Yojana?
Rs. 10 lakh
150. What is the PM SVANidhi scheme?
A scheme to provide loans to street vendors
151. What is the full form of SVANidhi?
Street Vendors Atmanirbhar Nidhi
152. What is the maximum loan amount under PM SVANidhi?
Rs. 50,000
153. What is the K TCC scheme?
Kisan Credit Card scheme for farmers’ credit needs
154. What is a priority sector lending?
Lending to sectors like agriculture, MSMEs, and housing
155. What is the target for priority sector lending for banks?
40% of adjusted net bank credit
156. What is a bad loan?
A loan where repayment is doubtful
157. What is a Non-Performing Asset (NPA)?
A loan where interest or principal is overdue for 90 days
158. What is a gross NPA?
The total value of NPAs before provisions
159. What is a net NPA?
Gross NPA minus provisions
160. What is a provision in banking?
Funds set aside for potential loan losses
161. What is the Insolvency and Bankruptcy Code (IBC)?
A law to resolve insolvency cases
162. When was the IBC enacted?
2016
163. What is the role of the Insolvency and Bankruptcy Board of India (IBBI)?
To regulate insolvency proceedings
164. What is the full form of NCLT?
National Company Law Tribunal
165. What is the role of NCLT?
To adjudicate corporate disputes and insolvency cases
166. What is the full form of NCLAT?
National Company Law Appellate Tribunal
167. What is the role of NCLAT?
To hear appeals against NCLT orders
168. What is a wilful defaulter?
A borrower who deliberately avoids loan repayment
169. What is the Prompt Corrective Action (PCA) framework?
RBI’s framework to monitor weak banks
170. What are the parameters for PCA?
Capital adequacy, asset quality, and profitability
171. What is the Banking Ombudsman?
An authority to resolve customer complaints against banks
172. Who appoints the Banking Ombudsman?
173. What is the Unified Payments Interface (UPI)?
A real-time payment system developed by NPCI
174. What is the full form of NPCI?
National Payments Corporation of India
175. What is the full form of BHIM?
Bharat Interface for Money
176. What is an Aadhaar-enabled Payment System (AePS)?
A system for transactions using Aadhaar authentication
177. What is a digital wallet?
An electronic platform for storing and transferring money
178. What is an example of a digital wallet in India?
Paytm
179. What is a credit card?
A card allowing borrowing for purchases up to a limit
180. What is a debit card?
A card linked to a bank account for direct payments
181. What is a prepaid card?
A card loaded with a fixed amount for payments
182. What is a contactless payment?
A payment using NFC technology without swiping
183. What is the full form of NEFT?
National Electronic Funds Transfer
184. What is the full form of RTGS?
Real Time Gross Settlement
185. What is the minimum amount for RTGS transactions?
Rs. 2 lakh
186. What is the full form of IMPS?
Immediate Payment Service
187. What is the maximum limit for IMPS transactions as of 2025?
Rs. 5 lakh
188. What is a SWIFT code?
A code for international bank transactions
189. What is the full form of SWIFT?
Society for Worldwide Interbank Financial Telecommunication
190. What is a MICR code?
A code on cheques for processing
191. What is the full form of MICR?
Magnetic Ink Character Recognition
192. What is an IFSC code?
A code for identifying bank branches in India
193. What is the full form of IFSC?
Indian Financial System Code
194. What is a core banking solution (CBS)?
A system for centralized banking operations
195. What is a KYC norm?
Know Your Customer, a process to verify customer identity
196. What is the full form of AML?
Anti-Money Laundering
197. What is the role of the Financial Intelligence Unit (FIU)?
To combat money laundering and terrorist financing
198. What is a base rate?
The minimum rate set by RBI for bank lending
199. What is the MCLR?
Marginal Cost of Funds-based Lending Rate
200. What replaced the base rate in 2016?
MCLR
201. What is a floating interest rate?
An interest rate that changes with market conditions
202. What is a fixed interest rate?
An interest rate that remains constant
203. What is a moratorium in banking?
A temporary suspension of loan repayments
204. What is a loan restructuring?
Modifying loan terms to ease repayment
205. What is a consortium lending?
Multiple banks jointly funding a large loan
206. What is a syndicated loan?
A loan provided by a group of lenders
207. What is a retail loan?
A loan given to individuals for personal use
208. What is a corporate loan?
A loan given to businesses for operations
209. What is a secured loan?
A loan backed by collateral
210. What is an unsecured loan?
A loan not backed by collateral
211. What is a home loan?
A loan for purchasing or constructing a house
212. What is an education loan?
A loan for funding education expenses
213. What is a personal loan?
A loan for personal expenses without specific purpose
214. What is a vehicle loan?
A loan for purchasing vehicles
215. What is a gold loan?
A loan against gold as collateral
216. What is a microfinance loan?
Small loans to low-income individuals
217. What is the Self-Help Group (SHG) Bank Linkage Programme?
A program to link SHGs with banks for credit
218. What is a joint liability group (JLG)?
A group of individuals jointly responsible for a loan
219. What is a credit guarantee fund?
A fund to cover losses from defaulted loans
220. What is the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)?
A trust to provide collateral-free loans to MSMEs
221. What is a letter of credit?
A bank guarantee for payment to a seller
222. What is a bank guarantee?
A bank’s commitment to pay if the borrower defaults
223. What is a bill of exchange?
A written order for payment at a future date
224. What is a promissory note?
A written promise to pay a specified amount
225. What is a demand draft?
A prepaid instrument for transferring money
226. What is a cheque?
A written order to a bank to pay a specified amount
227. What is a crossed cheque?
A cheque payable only through a bank account
228. What is a bearer cheque?
A cheque payable to the bearer in cash
229. What is a stale cheque?
A cheque presented after its validity period
230. What is the validity period of a cheque in India?
Three months
231. What is an overdraft?
A facility to withdraw more than the account balance
232. What is a cash credit?
A short-term loan for working capital
233. What is a term loan?
A loan with a fixed repayment schedule
234. What is a working capital loan?
A loan for day-to-day business operations
235. What is a bridge loan?
A short-term loan to meet immediate needs
236. What is a balloon payment?
A large final payment at the end of a loan term
237. What is an EMI?
Equated Monthly Installment
238. What is a credit score?
A numerical measure of a borrower’s creditworthiness
239. What is the range of a CIBIL score?
300 to 900
240. What is the full form of CIBIL?
Credit Information Bureau (India) Limited
241. What is a fintech company?
A company using technology to provide financial services
242. What is an example of a fintech company in India?
Razorpay
243. What is a neo-bank?
A digital-only bank without physical branches
244. What is a white-label ATM?
An ATM operated by a non-bank entity
245. What is a brown-label ATM?
An ATM where hardware is owned by a third party, but managed by a bank
246. What is a green-label ATM?
An ATM used for agricultural transactions
247. What is a yellow-label ATM?
An ATM for e-commerce transactions
248. What is a pink-label ATM?
An ATM dedicated to women
249. What is the full form of ATM?
Automated Teller Machine
250. What is a point of sale (POS) terminal?
A device for card payments at merchant locations
251. What is a mobile banking?
Banking services accessed via mobile devices
252. What is internet banking?
Banking services accessed via the internet
253. What is a virtual card?
A digital card for online transactions
254. What is a crypto wallet?
A software or device to store cryptocurrencies
255. What is a central bank digital currency (CBDC)?
A digital currency issued by a central bank
256. What is the name of India’s CBDC?
e-Rupee
257. When was the e-Rupee pilot launched?
December 2022
258. What is a blockchain?
A decentralized ledger for recording transactions
259. What is a cryptocurrency?
A digital currency using cryptography
260. What is Bitcoin?
The first decentralized cryptocurrency
261. What is the status of cryptocurrency regulation in India as of 2025?
Under consideration, not legal tender
262. What is international trade?
The exchange of goods and services between countries
263. What is an export?
Goods or services sold to a foreign country
264. What is an import?
Goods or services bought from a foreign country
265. What is a trade surplus?
When exports exceed imports
266. What is a trade deficit?
When imports exceed exports
267. What is the balance of trade?
The difference between exports and imports of goods
268. What is the balance of payments?
A record of all economic transactions between a country and the world
269. What are the two main accounts in the balance of payments?
Current account and capital account
270. What is included in the current account?
Trade in goods, services, and transfers
271. What is included in the capital account?
Capital transfers and acquisition of non-financial assets
272. What is the financial account in the balance of payments?
A record of investments and financial flows
273. What is a favorable balance of payments?
When inflows exceed outflows
274. What is an unfavorable balance of payments?
When outflows exceed inflows
275. What is foreign exchange?
The conversion of one currency into another
276. What is a foreign exchange rate?
The price of one currency in terms of another
277. What is a fixed exchange rate?
When a currency’s value is pegged to another currency or asset
278. What is a floating exchange rate?
When a currency’s value is determined by market forces
279. What is depreciation of currency?
A fall in the value of a currency in a floating exchange rate system
280. What is devaluation of currency?
A reduction in the value of a currency in a fixed exchange rate system
281. What is appreciation of currency?
A rise in the value of a currency in a floating exchange rate system
282. What is revaluation of currency?
An increase in the value of a currency in a fixed exchange rate system
283. What is a foreign exchange reserve?
Foreign currency held by a central bank
284. What is India’s foreign exchange reserve as of early 2025 (approx.)?
Around $700 billion
285. What is the role of foreign exchange reserves?
To stabilize the currency and manage balance of payments
286. What is a tariff?
A tax on imported goods
287. What is a non-tariff barrier?
A restriction on trade other than tariffs, like quotas
288. What is a quota?
A limit on the quantity of goods that can be imported
289. What is a trade barrier?
A restriction on international trade, such as tariffs or quotas
290. What is dumping in international trade?
Selling goods abroad at a price lower than the domestic market
291. What is an anti-dumping duty?
A tariff imposed to counter dumping
292. What is a free trade area?
A region where member countries eliminate trade barriers among themselves
293. What is a customs union?
A free trade area with a common external tariff
294. What is a common market?
A customs union with free movement of factors of production
295. What is an economic union?
A common market with coordinated economic policies
296. What is the World Trade Organization (WTO)?
An organization to regulate international trade
297. When was the WTO established?
January 1, 1995
298. Where is the headquarters of the WTO?
Geneva, Switzerland
299. Who is the Director-General of the WTO as of 2025?
Ngozi Okonjo-Iweala
300. How many member countries are in the WTO as of 2025?
164
301. What is the predecessor of the WTO?
General Agreement on Tariffs and Trade (GATT)
302. When was GATT established?
1947
303. What is the main objective of the WTO?
To promote free and fair trade
304. What is the Doha Development Round?
A WTO trade negotiation round started in 2001
305. What is the focus of the Doha Development Round?
Trade issues of developing countries
306. What is the Trade Facilitation Agreement (TFA)?
A WTO agreement to simplify customs procedures
307. When did the TFA enter into force?
2017
308. What is the Most Favoured Nation (MFN) principle?
A WTO rule to treat all members equally in trade
309. What is the National Treatment principle?
A WTO rule to treat foreign and domestic goods equally
310. What is the International Monetary Fund (IMF)?
An organization to promote global monetary cooperation
311. When was the IMF established?
1944
312. Where is the headquarters of the IMF?
Washington, D.C., USA
313. Who is the Managing Director of the IMF as of 2025?
Kristalina Georgieva
314. How many member countries are in the IMF?
190
315. What is the main objective of the IMF?
To ensure global financial stability
316. What is Special Drawing Rights (SDR)?
An international reserve asset created by the IMF
317. What is the World Bank?
An institution providing loans for development projects
318. When was the World Bank established?
319. Where is the headquarters of the World Bank?
320. Who is the President of the World Bank as of 2025?
Ajay Banga
321. What are the two main institutions of the World Bank Group?
IBRD and IDA
322. What is the full form of IBRD?
International Bank for Reconstruction and Development
323. What is the full form of IDA?
International Development Association
324. What is the role of IBRD?
To provide loans to middle-income countries
325. What is the role of IDA?
To provide concessional loans to low-income countries
326. What is the Asian Development Bank (ADB)?
A bank to promote development in Asia and the Pacific
327. When was the ADB established?
1966
328. Where is the headquarters of the ADB?
Manila, Philippines
329. Who is the President of the ADB as of 2025?
Masatsugu Asakawa
330. How many member countries are in the ADB?
68
331. What is the New Development Bank (NDB)?
A bank established by BRICS countries
332. When was the NDB established?
2014
333. Where is the headquarters of the NDB?
Shanghai, China
334. Who is the President of the NDB as of 2025?
Dilma Rousseff
335. What is the Asian Infrastructure Investment Bank (AIIB)?
A bank to finance infrastructure in Asia
336. When was the AIIB established?
2015
337. Where is the headquarters of the AIIB?
Beijing, China
338. How many member countries are in the AIIB?
109
339. What is the International Finance Corporation (IFC)?
A World Bank Group member for private sector development
340. When was the IFC established?
1956
341. What is the Multilateral Investment Guarantee Agency (MIGA)?
A World Bank Group member to promote foreign investment
342. When was MIGA established?
1988
343. What is the Organisation for Economic Co-operation and Development (OECD)?
An organization to promote economic policies
344. When was the OECD established?
1961
345. Where is the headquarters of the OECD?
Paris, France
346. How many member countries are in the OECD?
38
347. What is the G7?
A group of seven major advanced economies
348. Which countries are members of the G7?
USA, Canada, UK, Germany, France, Italy, Japan
349. What is the G20?
A group of 19 countries and the EU for economic cooperation
350. When was the G20 established?
351. Which country chaired the G20 in 2023?
India
352. Which country chairs the G20 in 2025?
South Africa
353. What is BRICS?
A group of emerging economies: Brazil, Russia, India, China, South Africa
354. When was BRICS formed?
2006
355. Which countries joined BRICS in 2024?
Egypt, Ethiopia, Iran, Saudi Arabia, UAE
356. Where was the 2024 BRICS Summit held?
Kazan, Russia
357. What is the SAARC?
South Asian Association for Regional Cooperation
358. When was SAARC established?
1985
359. Where is the headquarters of SAARC?
Kathmandu, Nepal
360. How many member countries are in SAARC?
8
361. Which countries are members of SAARC?
India, Pakistan, Bangladesh, Sri Lanka, Nepal, Bhutan, Maldives, Afghanistan
362. What is the ASEAN?
Association of Southeast Asian Nations
363. When was ASEAN established?
1967
364. Where is the headquarters of ASEAN?
Jakarta, Indonesia
365. How many member countries are in ASEAN?
10
366. Which countries are members of ASEAN?
Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam
367. What is the BIMSTEC?
Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation
368. When was BIMSTEC established?
1997
369. Where is the headquarters of BIMSTEC?
Dhaka, Bangladesh
370. How many member countries are in BIMSTEC?
7
371. Which countries are members of BIMSTEC?
India, Bangladesh, Bhutan, Nepal, Sri Lanka, Myanmar, Thailand
372. What is the Shanghai Cooperation Organisation (SCO)?
A Eurasian political and economic organization
373. When was the SCO established?
2001
374. Where is the headquarters of the SCO?
375. How many member countries are in the SCO as of 2025?
9
376. Which countries are members of the SCO?
China, Russia, India, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Iran
377. What is the European Union (EU)?
A political and economic union of European countries
378. How many member countries are in the EU as of 2025?
27
379. What is the currency of the EU?
Euro (€)
380. What is the Asia-Pacific Economic Cooperation (APEC)?
A forum to promote trade in the Asia-Pacific region
381. When was APEC established?
1989
382. How many member economies are in APEC?
21
383. What is the African Union (AU)?
A continental union of African countries
384. When was the AU established?
2002
385. How many member countries are in the AU?
54
386. What is the Organization of the Petroleum Exporting Countries (OPEC)?
A group of oil-producing countries
387. When was OPEC established?
1960
388. Where is the headquarters of OPEC?
Vienna, Austria
389. How many member countries are in OPEC as of 2025?
13
390. What is the International Labour Organization (ILO)?
A UN agency for labor standards
391. When was the ILO established?
1919
392. Where is the headquarters of the ILO?
393. What is the Food and Agriculture Organization (FAO)?
A UN agency for food security and agriculture
394. When was the FAO established?
1945
395. Where is the headquarters of the FAO?
Rome, Italy
396. What is the World Health Organization (WHO)?
A UN agency for global health
397. When was the WHO established?
1948
398. Where is the headquarters of the WHO?
399. What is the United Nations Conference on Trade and Development (UNCTAD)?
A UN body for trade and development
400. When was UNCTAD established?
1964
401. Where is the headquarters of UNCTAD?
402. What is the International Trade Centre (ITC)?
A joint agency of WTO and UN for trade promotion
403. When was the ITC established?
404. What is the Comprehensive Economic Partnership Agreement (CEPA)?
A trade agreement covering goods, services, and investment
405. Which country signed a CEPA with India in 2022?
United Arab Emirates
406. What is the Free Trade Agreement (FTA)?
An agreement to reduce trade barriers between countries
407. Which country signed an FTA with India in 2021?
Mauritius
408. What is the Regional Comprehensive Economic Partnership (RCEP)?
A trade agreement among 15 Asia-Pacific countries
409. When did RCEP come into effect?
January 1, 2022
410. Why did India opt out of RCEP?
Concerns over trade deficits and domestic industries
411. What is the Comprehensive Economic Cooperation Agreement (CECA)?
A trade agreement covering economic cooperation
412. Which country signed a CECA with India in 2005?
Singapore
413. What is the Indo-Pacific Economic Framework (IPEF)?
A US-led initiative for economic cooperation
414. When was the IPEF launched?
2022
415. How many countries are part of the IPEF?
14
416. What is the Trans-Pacific Partnership (TPP)?
A trade agreement among Pacific Rim countries
417. What is the renamed version of TPP after US withdrawal?
CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership)
418. What is the Mercosur?
A South American trade bloc
419. Which countries are full members of Mercosur?
Argentina, Brazil, Paraguay, Uruguay
420. What is the North American Free Trade Agreement (NAFTA)?
A trade agreement between the US, Canada, and Mexico
421. What replaced NAFTA in 2020?
USMCA (United States-Mexico-Canada Agreement)
422. What is the African Continental Free Trade Area (AfCFTA)?
A free trade area among African countries
423. When did AfCFTA come into effect?
January 1, 2021
424. What is the International Chamber of Commerce (ICC)?
A global business organization for trade policies
425. When was the ICC established?
426. What is the World Economic Forum (WEF)?
A forum for public-private cooperation
427. When was the WEF established?
1971
428. Where is the headquarters of the WEF?
429. Where is the annual meeting of the WEF held?
Davos, Switzerland
430. What is the Global Competitiveness Report?
A WEF report ranking economies’ competitiveness
431. What is the Export-Import Bank of India (EXIM Bank)?
A bank to finance and promote India’s international trade
432. When was EXIM Bank established?
1982
433. What is the full form of ECGC?
Export Credit Guarantee Corporation of India
434. What is the role of ECGC?
To provide export credit insurance
435. What is the full form of DGFT?
Directorate General of Foreign Trade
436. What is the role of DGFT?
To regulate and promote foreign trade
437. What is the Foreign Trade Policy (FTP) of India?
A policy to guide India’s export and import activities
438. What is the current Foreign Trade Policy period as of 2025?
2023-2028
439. What is the Duty Drawback Scheme?
A scheme to refund duties on exported goods
440. What is the Merchandise Exports from India Scheme (MEIS)?
A scheme to promote exports
441. What is the Service Exports from India Scheme (SEIS)?
A scheme to promote service exports
442. What is the Export Promotion Capital Goods (EPCG) scheme?
A scheme to import capital goods at zero duty for exports
443. What is the Advance Authorisation Scheme?
A scheme to import inputs duty-free for export production
444. What is the full form of RoDTEP?
Remission of Duties and Taxes on Exported Products
445. What is the objective of RoDTEP?
To refund taxes and duties on exported products
446. What is the full form of APEDA?
Agricultural and Processed Food Products Export Development Authority
447. What is the role of APEDA?
To promote agricultural and processed food exports
448. What is the full form of MPEDA?
Marine Products Export Development Authority
449. What is the role of MPEDA?
To promote marine product exports
450. What is the full form of EEPC?
Engineering Export Promotion Council
451. What is the role of EEPC?
To promote engineering goods exports
452. What is the full form of FIEO?
Federation of Indian Export Organisations
453. What is the role of FIEO?
To promote exports and support exporters
454. What is India’s largest export commodity as of 2025?
Petroleum products
455. What is India’s largest import commodity as of 2025?
Crude oil
456. Which country is India’s largest export destination as of 2025?
United States
457. Which country is India’s largest import source as of 2025?
China
458. What is the full form of FDI?
Foreign Direct Investment
459. What is the full form of FPI?
Foreign Portfolio Investment
460. What is the difference between FDI and FPI?
FDI involves long-term investment; FPI involves short-term financial assets
461. Which sector receives the highest FDI in India?
Information technology
462. What is a Special Economic Zone (SEZ)?
A designated area to promote exports and investment
463. Which is India’s first SEZ?
Kandla SEZ, Gujarat
464. What is the full form of GIFT City?
Gujarat International Finance Tec-City
465. What is the role of GIFT City?
To serve as an international financial hub
466. What is the full form of IFSC?
International Financial Services Centre
467. Where is India’s first IFSC located?
GIFT City, Gujarat
468. What is the International Solar Alliance (ISA)?
A coalition to promote solar energy
469. Where is the headquarters of the ISA?
Gurugram, India
470. What is the Colombo Plan?
A program for economic development in Asia
471. When was the Colombo Plan established?
1950
472. What is the IOR-ARC?
Indian Ocean Rim Association for Regional Cooperation
473. When was the IOR-ARC established?
474. What is the Mekong-Ganga Cooperation (MGC)?
A framework for cooperation between India and Mekong countries
475. When was the MGC established?
2000
476. What is the full form of UNIDO?
United Nations Industrial Development Organization
477. What is the role of UNIDO?
To promote industrial development
478. What is the full form of WIPO?
World Intellectual Property Organization
479. What is the role of WIPO?
To promote intellectual property rights
480. What is the Trade-Related Aspects of Intellectual Property Rights (TRIPS)?
A WTO agreement on intellectual property
481. What is the Generalized System of Preferences (GSP)?
A system allowing duty-free imports from developing countries
482. Which country withdrew GSP benefits for India in 2019?
483. What is the Global Value Chain (GVC)?
A production process spread across multiple countries
484. What is the full form of SWIFT?
485. What is the role of SWIFT?
To facilitate secure international financial transactions
486. What is the International Fund for Agricultural Development (IFAD)?
A UN agency for rural development
487. When was IFAD established?
1977
488. What is the International Civil Aviation Organization (ICAO)?
A UN agency for aviation standards
489. When was the ICAO established?
490. What is the International Maritime Organization (IMO)?
A UN agency for maritime safety
491. When was the IMO established?
492. What is the Universal Postal Union (UPU)?
A UN agency for postal services
493. When was the UPU established?
1874
494. What is the World Customs Organization (WCO)?
An organization for customs cooperation
495. When was the WCO established?
1952
496. What is the International Telecommunication Union (ITU)?
A UN agency for telecommunication standards
497. When was the ITU established?
1865
498. What is the UN Capital Development Fund (UNCDF)?
A UN agency for financing development
499. When was the UNCDF established?
500. What is the UN Environment Programme (UNEP)?
A UN agency for environmental protection
501. When was the UNEP established?
1972
502. What is the UN Human Settlements Programme (UN-Habitat)?
A UN agency for sustainable urban development
503. When was UN-Habitat established?
1978
504. What is the UN Population Fund (UNFPA)?
A UN agency for population and reproductive health
505. When was the UNFPA established?
506. What is the UN Development Programme (UNDP)?
A UN agency for development assistance
507. When was the UNDP established?
1965
508. What is the UN Industrial Development Organization (UNIDO)?
A UN agency for industrial development
509. When was UNIDO established?
510. What is the UN Women?
A UN entity for gender equality
511. When was UN Women established?
512. What is the World Food Programme (WFP)?
A UN agency for food assistance
513. When was the WFP established?
514. What is the International Organization for Migration (IOM)?
A UN-related agency for migration
515. When was the IOM established?
1951
516. What is the UN Educational, Scientific and Cultural Organization (UNESCO)?
A UN agency for education, science, and culture
517. When was UNESCO established?
518. What is the UN Children’s Fund (UNICEF)?
A UN agency for children’s welfare
519. When was UNICEF established?
1946
520. What is the UN High Commissioner for Refugees (UNHCR)?
A UN agency for refugee protection
521. When was the UNHCR established?
522. What is the International Centre for Settlement of Investment Disputes (ICSID)?
A World Bank Group member for investment dispute resolution
523. When was ICSID established?
524. What is the Group of 77 (G77)?
A coalition of developing countries
525. When was the G77 established?
526. How many member countries are in the G77?
134
527. What is the Non-Aligned Movement (NAM)?
A group of countries not aligned with major powers
528. When was the NAM established?
529. How many member countries are in the NAM?
120
530. What is the Commonwealth of Nations?
A political association of former British colonies
531. How many member countries are in the Commonwealth?
56
532. What is the Organisation of Islamic Cooperation (OIC)?
An organization of Muslim-majority countries
533. When was the OIC established?
534. How many member countries are in the OIC?
57
535. What is the Nordic Council?
A cooperation forum for Nordic countries
536. When was the Nordic Council established?
537. What is the Arctic Council?
A forum for Arctic region cooperation
538. When was the Arctic Council established?
1996
539. What is the Pacific Islands Forum (PIF)?
A forum for Pacific Island countries
540. When was the PIF established?
541. What is the Caribbean Community (CARICOM)?
A regional organization for Caribbean countries
542. When was CARICOM established?
1973
543. What is the Economic Community of West African States (ECOWAS)?
A regional economic union in West Africa
544. When was ECOWAS established?
545. What is the Southern African Development Community (SADC)?
A regional economic community in Southern Africa
546. When was SADC established?
547. What is the Gulf Cooperation Council (GCC)?
A political and economic union of Gulf countries
548. When was the GCC established?
1981
549. What is the Arab League?
A regional organization of Arab countries
550. When was the Arab League established?
551. What is the Organization of American States (OAS)?
A regional organization for the Americas
552. When was the OAS established?
553. What is the Andean Community?
A trade bloc in South America
554. When was the Andean Community established?
555. What is the Economic Cooperation Organization (ECO)?
A regional organization for economic cooperation
556. When was the ECO established?
557. What is the Black Sea Economic Cooperation (BSEC)?
A regional organization for Black Sea countries
558. When was the BSEC established?
559. What is the Central American Integration System (SICA)?
A regional organization for Central America
560. When was SICA established?
1991
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