Indian Financial System Quiz 3
Practice quiz on Indian Financial System (Financial Awareness). 5 real exam questions.
About This Quiz
Indian Financial System Quiz 3 — Questions with Solutions
All 5 questions from this quiz with the correct answer and explanation. Attempt them yourself first, then open each solution to check your reasoning.
Q1.Which committee recommended the creation of GST in India?
- A.Kelkar Committee
- B.Vijay Kelkar Task Force
- C.Jha Committee
- D.Narasimham Committee-I
Show answer
Answer: B. Vijay Kelkar Task Force
The Vijay Kelkar Task Force recommended introduction of GST.
Q2.Which payment system is based on 'Immediate Payment Service'?
- A.NEFT
- B.RTGS
- C.IMPS
- D.UPI
Show answer
Answer: C. IMPS
IMPS enables instant 24×7 fund transfers.
Q3.What is the maximum deposit limit under PM Jan Dhan Yojana for a savings account?
- A.₹1 lakh
- B.₹2 lakh
- C.₹50,000
- D.₹1.5 lakh
Show answer
Answer: B. ₹2 lakh
The revised JDY deposit limit is ₹2 lakh.
Q4.Who founded the Indian National Congress?
- A.A.O. Hume
- B.Mahatma Gandhi
- C.B.R. Ambedkar
- D.Subhas Chandra Bose
Show answer
Answer: A. A.O. Hume
INC was founded by A.O. Hume in 1885.
Q5.SIDBI primarily refinances loans for which segment?
- A.Large industries
- B.Micro and small enterprises
- C.Banks
- D.Agriculture
Show answer
Answer: B. Micro and small enterprises
SIDBI focuses on financing and refinancing for the MSME sector.
Frequently Asked Questions
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Indian Financial System Quiz 3 runs on a 1-minute timer in real exam-style conditions. The clock starts the moment you click Start, mirroring the time pressure of the actual exam.
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Can I attempt Indian Financial System Quiz 3 multiple times?
Yes. You can attempt this quiz as many times as you like. Each attempt is recorded separately so you can track improvement in score, accuracy and time-management.
Which government exams does this quiz prepare me for?
Indian Financial System questions appear regularly in SSC CGL, CHSL, MTS, GD; IBPS PO, Clerk; SBI PO, Clerk; RRB NTPC, Group D; UPSC prelims and most State PSC exams. The specific weightage varies by exam — check the exam pattern on the corresponding AajExam exam page for details.