Free Practice Questions for Economics in General-studies

Regional Rural Banks were established in India in the year 1975.

Important Points:

•  Regional Rural Banks are financial institutions that ensure adequate credit for agriculture and rural areas
• It was established under the Regional Rural Banks Act, 1976 as a government sponsored rural credit institution.
• The shareholding of Government of India, sponsor banks and respective states in these banks is 50%, 35% and 15% respectively.
• India's first regional rural bank is Prathama Bank, headquartered in Moradabad.

Banks were nationalized for the first time in India on July 19, 1969.

Important Points:

• The Reserve Bank of India was nationalized on 1 January 1949.
• India's largest commercial bank State Bank of India was nationalized on 1 July 1955.
• On 9 July 1969, 14 commercial banks were nationalized.
• In the second phase, 6 commercial banks were nationalized in 1980.

Sarva Shiksha Abhiyan (SSA) is Government of India's flagship programme for achievement of Universalization of Elementary Education (UEE) in a time bound manner, as mandated by 86th amendment to the Constitution of India making free and compulsory Education to the Children of 6-14 years age group, a Fundamental Right.

AGMARK is a mark which is applied on agricultural/food products in India. 

• Products bearing AGMARK are expected to meet certain set standards. 
• These standards are approved by the Directorate of Marketing and Inspection, Government of India. 
• The use of AGMARK is enforced by the Agricultural Produce Act 1937 which was amended in 1986.

• the world’s first State HDR was published in Madhya Pradesh in 1995 and included the computation of the State’s HDI as well as HDI for all the districts in the State.
• A similar independent process of preparing a State HDR in Karnataka was initi ated in 1997 and the report was released in 1999.
• Spurred by the enthusiasm from the States, Planning Commission and UNDP came together to off er technical and fi nancial assistance to States preparing HDRs. So far, 21 States have prepared HDRs from the total number of 28 States in India.
• The Planning Commission released the fi rst Nati onal Human Development Report 2001.

Ecomark or Eco Mark is a certification mark issued by the Bureau of Indian Standards (National Standards Organization of India).

Important Points:

• The marking scheme was launched in 1991.
• One of the objectives of the mark is to raise awareness among consumers to reduce environmental impact.
• A new mark Ecomark has also become necessary on goods and products.
• To reduce pollution caused by products, the Ministry of Environment and Forests has directed to apply Ecomark as a label of friendly products.