Credit control is most important function of Reserve Bank of India. By using credit control methods RBI tries to maintain monetary stability. There are two types of methods: (a) Quantitative control to regulate the volume of total credit; and (b) Qualitative Control to regulate the flow of credit.

Correct Option: C

Credit control is most important function of Reserve Bank of India. By using credit control methods RBI tries to maintain monetary stability. There are two types of methods: (a) Quantitative control to regulate the volume of total credit; and (b) Qualitative Control to regulate the flow of credit.

Income Tax (corporate and non-corporate combined) contribute about 56 per cent of tax revenue of India. But, income tax, apart from agricultural income is shared between the Union and states. Among the given options, Excise duty is the chief and single largest source of revenue income. The Government of India earns maximum from Union Excise Duty.

Correct Option: B

Income Tax (corporate and non-corporate combined) contribute about 56 per cent of tax revenue of India. But, income tax, apart from agricultural income is shared between the Union and states. Among the given options, Excise duty is the chief and single largest source of revenue income. The Government of India earns maximum from Union Excise Duty.

The gilt-edged market refers to the market for Government and semi-government securities, backed by the Reserve Bank of India (RBI). Government securities are tradeable debt instruments issued by the Government for meeting its financial requirements. The term gilt-edged means 'of the best quality'. This is because the Government securities do not suffer from risk of default and are highly liquid (as they can be easily sold in the market at their current price). The open market operations of the RBI are also conducted in such securities.

Correct Option: B

The gilt-edged market refers to the market for Government and semi-government securities, backed by the Reserve Bank of India (RBI). Government securities are tradeable debt instruments issued by the Government for meeting its financial requirements. The term gilt-edged means 'of the best quality'. This is because the Government securities do not suffer from risk of default and are highly liquid (as they can be easily sold in the market at their current price). The open market operations of the RBI are also conducted in such securities.

Branch banking implies engaging in banking activities such as accepting deposits or making loans at facilities away from a bank's home office. It means a system of banking in which a banking organization works at more than one place. The main place of business is called head office and other places of business are called branches. The head office controls and co-ordinates the work at branches. This system of banking is prevalent throughout the world. In India also, all the major banks have been operating under branch banking system.

Correct Option: C

Branch banking implies engaging in banking activities such as accepting deposits or making loans at facilities away from a bank's home office. It means a system of banking in which a banking organization works at more than one place. The main place of business is called head office and other places of business are called branches. The head office controls and co-ordinates the work at branches. This system of banking is prevalent throughout the world. In India also, all the major banks have been operating under branch banking system.

The Central Statistical Organization (CSO) prepares national accounts, compiles and publishes industrial statistics and conducts economic census and surveys. The first official estimates of the national income, prepared by the CSO at constant prices with base year 1948-49, as well as at current prices, were brought out in 1956.

Correct Option: D

The Central Statistical Organization (CSO) prepares national accounts, compiles and publishes industrial statistics and conducts economic census and surveys. The first official estimates of the national income, prepared by the CSO at constant prices with base year 1948-49, as well as at current prices, were brought out in 1956.