Business/Economy – Important One Liners

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Economy
1- On July 12, 1982, the ARDC was merged into NABARD
2- Those goods which have positive relationship between price and quantity
demanded are called as Giffen Goods.
3-National Rural Development Institute is situated at Hyderabad
4-Excise duty is a tax levied on the Production of goods
5-‘Bad money (if not limited in quantity ) drives good money out of
circulation,’ is the law known as Gresham’s law
6-National Income estimates in India is prepared by Central Statistical Organization
7-Maharashtra stands first in the length of roads in the country.
8-Amartya Sen got Nobel Prize for Economics.
9-K. C. Niyogi was the Chairman of the first Finance Commission
10- Minimum inflation in post economic reform formed in 1999-2000
11-Oriental Life Insurance company is the oldest insurance company of India
12- Deficit financing means that the government borrows money from the RBI
13-Brent Index is associated with Crude oil prices
14-Garibi Hatao slogan was coined in 1971
15-HDFC Bank is the largest Private Sector Bank in India
16-The Foreign Exchange Management Act(FEMA) was passed in 1999
17-3rd FYP plan is also known as ‘Gadgil Yojana’.
18- In 1948 the Reserve Bank of India taken over by the Government
19-The difference between GNP & GDP is Capital Depreciation
20-CAG is considered the guardian of the Public Purse
21-On 1st April 1999 Swarn Jayanti Gram Swarozgar Yojna came into being
22- RK Shanmukham Chetty presented the first union budget of Independent India
23-In the year 1949 Statutory Liquidity Ratio was first imposed on banks
24-The headquarter of East African Development Bank is in Uganda
25-The Unclaimed deposits are those deposits which haven’t been operated
for 10 years or more
26- When a person has a saving account in the bank , the bank assumes the
position of Debtor
27-Finance Ministry formulates fiscal policy
28- SIDBI was established in 1990
29- The highest denomination of currency notes in circulation as legal
tender in India at present is Rs 2000
30-Bombay Stock Exchange is the oldest stock exchange in Asia
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