Economy & Business MCQs

Solar and wind power are dependent on weather conditions, making their output intermittent and variable, which poses challenges for grid stability.

The mission aims to develop domestic manufacturing capabilities and make India a leader in the global green hydrogen economy.

India has committed to achieving an installed non-fossil fuel-based energy capacity of 500 GW by 2030.

NPCI is an organization that operates retail payment and settlement systems, including UPI, RuPay, and Aadhaar Enabled Payment System (AePS).

CBDC refers to a digital form of a country's fiat currency that is also a direct liability of the central bank.

Cybersecurity risks and ensuring access for all segments of the population (bridging the digital divide) are major challenges in the widespread adoption of digital payments.

The Digital India initiative aims to transform India into a digitally empowered society and knowledge economy, which includes promoting digital payments and financial inclusion.

The Unified Payments Interface (UPI) is an instant real-time payment system developed by the National Payments Corporation of India (NPCI) that allows users to transfer money between bank accounts on a mobile platform.

'Withdrawal of accommodation' indicates that the central bank is moving away from an accommodative stance (which supports growth) towards a more neutral or tightening stance to control inflation.

The RBI's inflation target is set by the government in consultation with the RBI, and it is currently mandated to keep inflation within the 2-6% range.