Financial | MCQs

Explanation

The annual inflation rate in Pakistan edged up to 9.2 percent in October of 2021 from 9.0 percent in the previous month.

 increased to 24.6% on a year-on-year basis in Oct 2022 

Pakistan's inflation rate accelerated to 38% in May of 2023 from 36.4% in April.

This was the highest reading since comparable records began in 1957, mainly due to rising food inflation (48.7% vs 48.1% in April).

Explanation

HBL Bank gave a loan to Pakistan for its first budget

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HBL was the first commercial bank to be established in Pakistan in 1947

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HBL moved its operations to Pakistan in 1947 at the request of Muhammad Ali Jinnah, hence becoming the first commercial bank to lay its foundation in the country

ND5-2-2023

Explanation

June 30, 2023, IMF Reaches Staff-level Agreement with Pakistan on a US$3 Billion Stand-By Arrangement to support the authorities' economic stabilization program.

(IMF) approved a 9-month (SBA) for Pakistan for an amount of SDR2,250 million (111 percent of quota) 

Ernesto Ramirez Rigo visited Islamabad, Pakistan from April 29 to May 11, to discuss IMF support for the authorities' economic reform program.

Explanation

Electronic banking is synonymous with online banking, internet banking, web banking, cyberbanking, and e-banking.

Explanation

Receipt means رسید

Explanation

The correct preposition used with "pay" when referring to cheque is "by".

So the correct sentence is: "You may pay by cheque".

Explanation

Inflation Defined:

Inflation is the sustained increase in general price levels, reducing purchasing power.

Impact on Pakistan:

Rising Costs: Essential goods (food, fuel) become more expensive, straining households.

Economic Strain: Businesses face higher input costs, leading to slower growth and unemployment.

Currency Depreciation: High inflation often weakens the rupee, worsening imports.

Explanation

The first round of talks between Pakistan and the International Monetary Fund (IMF)

held in the federal capital on Tuesday

to strike a staff-level agreement on the ninth review under the $7 billion Extended Fund Facility (EFF)

ND7-5-2023

Explanation

Bearish

The bear market phenomenon is believed to have been named after the way bears attack their prey, that is, how they turn their legs down. For this reason, the market where stock prices are declining is called the bear market.

Explanation

The State Bank Museum & Art Gallery was established in 2004

It is a museum on Ibrahim Ismail Chundrigar Road in Karachi

In 2004, the State Bank of Pakistan decided to adapt the building as a museum

Work on the projects started in 2006 

History

The first Monetary Museum of Pakistan.

Previously, it was the Imperial Bank of India

That was a Greco-Roman building in Jodhpuri Red Sandstone, constructed in the 1920s by the British government.