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Question 1 of 10
1. Question
Which policy laid the groundwork for greater state involvement in banking and key sectors in 1948?
Correct
The Industrial Policy Resolution of 1948 emphasized state involvement in key sectors.
Incorrect
The Industrial Policy Resolution of 1948 emphasized state involvement in key sectors.
Unattempted
The Industrial Policy Resolution of 1948 emphasized state involvement in key sectors.
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Question 2 of 10
2. Question
On which date was the Reserve Bank of India nationalized?
Correct
The RBI was nationalized on January 1, 1949, according to the provided material.
Incorrect
The RBI was nationalized on January 1, 1949, according to the provided material.
Unattempted
The RBI was nationalized on January 1, 1949, according to the provided material.
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Question 3 of 10
3. Question
What did the Banking Regulation Act, 1949 empower the RBI to do?
Correct
The Act empowered the RBI to regulate, control and inspect banks in India.
Incorrect
The Act empowered the RBI to regulate, control and inspect banks in India.
Unattempted
The Act empowered the RBI to regulate, control and inspect banks in India.
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Question 4 of 10
4. Question
Under the Banking Regulation Act, 1949, what was required before a new bank or branch could be opened?
Correct
The Act required a license from the RBI before a new bank or branch could be opened.
Incorrect
The Act required a license from the RBI before a new bank or branch could be opened.
Unattempted
The Act required a license from the RBI before a new bank or branch could be opened.
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Question 5 of 10
5. Question
On what date did the Government of India issue the ordinance nationalizing 14 major commercial banks?
Correct
The first round of bank nationalization took place through an ordinance issued on July 19, 1969.
Incorrect
The first round of bank nationalization took place through an ordinance issued on July 19, 1969.
Unattempted
The first round of bank nationalization took place through an ordinance issued on July 19, 1969.
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Question 6 of 10
6. Question
How many major commercial banks were nationalized in the first round in 1969?
Correct
The first round of nationalization covered 14 major commercial banks.
Incorrect
The first round of nationalization covered 14 major commercial banks.
Unattempted
The first round of nationalization covered 14 major commercial banks.
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Question 7 of 10
7. Question
How many additional commercial banks were nationalized in 1980?
Correct
The government nationalized six more commercial banks in 1980.
Incorrect
The government nationalized six more commercial banks in 1980.
Unattempted
The government nationalized six more commercial banks in 1980.
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Question 8 of 10
8. Question
Which nationalized bank was merged with Punjab National Bank in 1993?
Correct
New Bank of India was merged with Punjab National Bank in 1993.
Incorrect
New Bank of India was merged with Punjab National Bank in 1993.
Unattempted
New Bank of India was merged with Punjab National Bank in 1993.
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Question 9 of 10
9. Question
Which regions were particularly affected by the disruption in banking activities following the Partition of India in 1947?
Correct
The provided material states that the economies of Punjab and West Bengal were severely impacted.
Incorrect
The provided material states that the economies of Punjab and West Bengal were severely impacted.
Unattempted
The provided material states that the economies of Punjab and West Bengal were severely impacted.
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Question 10 of 10
10. Question
What major economic approach did India move toward after independence instead of laissez-faire?
Correct
The material states that the government moved toward a mixed economy with greater state involvement.
Incorrect
The material states that the government moved toward a mixed economy with greater state involvement.
Unattempted
The material states that the government moved toward a mixed economy with greater state involvement.