Economy & Business MCQs - 2026-06-20

Digital payments make financial services more accessible to a larger population, leading to greater financial inclusion. Digital trails also enhance transparency and reduce the scope for illicit transactions.

Government policies like demonetization, promotion of UPI, and efforts towards financial inclusion have significantly boosted digital payment adoption in India.

High growth in digital payments directly correlates with more individuals and businesses using platforms like UPI, credit/debit cards, net banking, and mobile wallets for transactions.

Export promotion schemes are designed to enhance the competitiveness of Indian goods and services in international markets, thus benefiting sectors that are already export-oriented or have the potential to become so.

Export promotion schemes often provide support in areas like financing, market intelligence, trade facilitation, and reducing compliance burdens to make exports more competitive.

The name 'Niryat Sahyog Yojana' itself suggests 'Export Cooperation Scheme', indicating its focus on boosting India's export performance.

When inflation is stable and growth is robust, the central bank has more flexibility. Maintaining the repo rate indicates a cautious approach, avoiding sudden shocks to the economy while supporting continued growth.

Maintaining the repo rate suggests that the RBI finds the current monetary conditions appropriate, either due to stable inflation and growth or a desire to assess the impact of previous policy changes before making further moves.

The repo rate is the rate at which the RBI lends money to commercial banks. By adjusting this rate, the RBI influences borrowing costs and thus controls inflation and liquidity.