Indian Economy GK Questions with Answers – Page 35

An oligopoly is a market in which a few large firms supply the whole output, so each must watch how the others will react to its price, and the cigarette industry is the standard example because a handful of companies hold almost the entire market.

Perfect competition assumes a homogeneous product, very many buyers and sellers, perfect knowledge and free entry and exit, and the visible result of all this is a single ruling price: the same good cannot sell at two prices at the same moment, because any buyer would move to the cheaper…

A development finance institution is not a deposit-taking bank for the public; it raises resources from bonds and debentures, from the government, from the Reserve Bank and from multilateral agencies, and uses them for long-term lending.

NaBFID was created by the National Bank for Financing Infrastructure and Development Act, 2021 as a development finance institution for long-term infrastructure finance, with its head office in Mumbai, and it is the newest of the country's apex development institutions.

CGTMSE was established in 2000 by the Government of India together with SIDBI to guarantee loans given without collateral or third-party guarantee to micro and small enterprises, so that a lender's fear of security does not keep a small unit out of formal credit.

The National Housing Bank was established on 9 July 1988 under the National Housing Bank Act, 1987, with its head office in New Delhi, to refinance and regulate housing finance; it was set up as a wholly owned subsidiary of the Reserve Bank, whose shareholding was transferred to the Government…

Besides refinancing them, NABARD carries out the inspection and supervision of the regional rural banks, the state cooperative banks and the district central cooperative banks on behalf of the Reserve Bank, and it also prepares the potential linked credit plans from which district credit plans are drawn.

The Rural Infrastructure Development Fund was created in 1995 to 1996 and is maintained with NABARD; it is funded by the amounts commercial banks fall short of in their priority sector lending targets, and NABARD lends from it to state governments for rural roads, bridges, irrigation works, warehouses and similar…

MUDRA was created in 2015 as a subsidiary of SIDBI to refinance the small loans given by banks, microfinance institutions and non-banking finance companies under the Pradhan Mantri Mudra Yojana, the loans being classified as Shishu up to fifty thousand rupees, Kishore from fifty thousand to five lakh and Tarun…

The EXIM Bank was established on 1 January 1982 under the Export-Import Bank of India Act, 1981, is wholly owned by the Government of India, has its head office in Mumbai, and finances and promotes India's foreign trade, including the lines of credit the government extends to other countries.

The Industrial Finance Corporation of India was set up in 1948 under the Industrial Finance Corporation Act of that year to provide medium and long-term finance to industry, which makes it the first development finance institution in the country; it was converted into a company in 1993.

SIDBI has its head office at Lucknow in Uttar Pradesh, which makes it the one major apex financial institution of the country not headquartered in a metropolitan financial centre, and that is exactly why the question is asked.

The Reserve Bank appointed the Committee to Review the Arrangements for Institutional Credit for Agriculture and Rural Development, known as CRAFICARD, in 1979 under the chairmanship of B. Sivaraman, and its recommendation led to the NABARD Act, 1981 and the creation of NABARD in 1982.

The National Bank for Agriculture and Rural Development was set up on 12 July 1982 under the NABARD Act, 1981, as the apex institution for credit to agriculture and rural development, taking over the work of the Reserve Bank's Agricultural Credit Department and Rural Planning and Credit Cell and of…

The Pradhan Mantri Ayushman Bharat Health Infrastructure Mission, launched in October 2021, is the largest pan-India scheme for building up health infrastructure, and it works at all three levels of care.

Bharat Heavy Electricals Limited is a public sector undertaking, which means the government holds the majority of its shares and controls its management.

Sen argued that development should be judged by what people are actually able to be and to do, their capabilities, rather than by the goods they own or the income they earn, and this is the reasoning behind the HDI's choice of health, education and a decent standard of living.

The Gender Inequality Index replaced the Gender Development Index and the Gender Empowerment Measure of 1995 and shows the human development cost of inequality between women and men in those three dimensions.

The further the curve sags away from the straight diagonal of perfect equality, the greater the inequality, and the Gini coefficient measures exactly that gap on a scale from 0, perfect equality, to 1, perfect inequality.

Morris gave equal weight to three indicators only, life expectancy at age one, the infant mortality rate and basic literacy, and the striking feature of his index is that income appears nowhere in it; he argued that income is a means and that the results of development should be measured…