21st June 2024 | [Quiz] Current | For Prelims 2024

Consider the following statements about the Foreign Exchange Management Act (FEMA), 1999:

1. FEMA was enacted to replace the Foreign Exchange Regulation Act (FERA) of 1973.
2. The Enforcement Directorate, which is the administrative body for FEMA, is located in Mumbai.

Which of the statements given above is/are correct?

Which of the following is a potential consequence of sticky inflation?

Consider the following statements regarding Capital Account Convertibility:

1. Capital Account Convertibility allows unrestricted movement of capital for trade in goods and services.
2. Capital Account Convertibility enables unrestricted conversion of local currency into foreign currency for investments.
3. Partial convertibility has been achieved with a cautious approach.

How many of the above statement are correct?

Which of the following is a feature of the GNSS-based Electronic Toll Collection system?

Consider the following statements regarding Certificates of Deposit (CDs):

1. CDs typically offer a variable interest rate that changes during the term of the deposit.
2. CDs lock in funds for a fixed period during which the depositor cannot access the funds without facing a penalty.

Which of the statements given above is/are correct?