Question : Fill in the blanks- For the first time MRTP act was replaced by Competition Act __.
Option 1: 2001
Option 2: 2002
Option 3: 2007
Option 4: 2009
Correct Answer: 2002
Solution : For the first time MRTP act was replaced by Competition Act 2002, it was further amended by Competition Act 2007 and then Competition Act 2009. Hence Option B is correct.
Question : The Right to Education Act was passed when?
Option 1: 2012
Option 2: 2010
Option 3: 2009
Option 4: 2008
Question : Statement 1: The Foreign Exchange Regulation Act (FERA) imposed strict controls on foreign exchange transactions.
Statement 2: FERA was replaced by the Foreign Exchange Management Act (FEMA) in 2002.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, and statement 2 is false.
Option 4: Statement 1 is false, and statement 2 is true.
Question : The National Payments Corporation of India was set up under the provisions of which Act?
Option 1: The SARFAESI Act, 2002
Option 2: Payment and Settlement Systems Act, 2007
Option 3: Government Securities Act, 2006
Option 4: Companies Act, 2013
Question : The Foreign Exchange Regulation Act was replaced by the ______ in India.
Option 1: Foreign Exchange Currency Act
Option 2: Foreign Exchange Finances Act
Option 3: Foreign Exchange Funds Act
Option 4: Foreign Exchange Management Act
Question : The main objective of the Monopolies and Restrictive Trade Practices (MRTP) Act was to:
Option 1: Promote competition in the market
Option 2: Encourage monopolistic practices
Option 3: Regulate foreign trade
Option 4: Control labor unions
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