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CLAT Exam  >  CLAT Test  >  Daily Passage Practice  >  Daily Passage Test for CLAT - Jan 7 - CLAT MCQ

Daily Passage Test for CLAT - Jan 7 MCQs & solutions Free


MCQ Practice Test & Solutions: Daily Passage Test for CLAT - Jan 7 (5 Questions)

You can prepare effectively for CLAT Daily Passage Practice for CLAT with this dedicated MCQ Practice Test (available with solutions) on the important topic of "Daily Passage Test for CLAT - Jan 7". These 5 questions have been designed by the experts with the latest curriculum of CLAT 2026, to help you master the concept.

Test Highlights:

  • - Format: Multiple Choice Questions (MCQ)
  • - Duration: 10 minutes
  • - Number of Questions: 5

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Daily Passage Test for CLAT - Jan 7 - Question 1
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When was the Interest Equalisation Scheme (IES) first launched?

Detailed Solution: Question 1

The IES was launched on April 1, 2015 to support exporters with reduced interest rates on rupee export credit.

Daily Passage Test for CLAT - Jan 7 - Question 2
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What is the primary purpose of the Interest Equalisation Scheme?

Detailed Solution: Question 2

The scheme’s main objective is to reduce interest rates on pre- and post-shipment rupee export credit for exporters.

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Daily Passage Test for CLAT - Jan 7 - Question 3
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How much financial benefit do MSME manufacturer exporters receive under the scheme?

Detailed Solution: Question 3

MSME manufacturer exporters receive an interest equalisation benefit of 3%.

Daily Passage Test for CLAT - Jan 7 - Question 4
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What is the maximum cap per year for individual exporters under the scheme?

Detailed Solution: Question 4

The cap for individual exporters has been set at Rs 50 lakh per annum per IEC.

Daily Passage Test for CLAT - Jan 7 - Question 5
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Which organization administers the scheme?

Detailed Solution: Question 5

The Reserve Bank of India (RBI) administers the scheme through public and private banks.

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About this CLAT Practice Test

This test contains 5 MCQs on Daily Passage Test for CLAT - Jan 7 with detailed solutions for each question. It is part of the Daily Passage Practice for CLAT course on EduRev, designed to align with the current CLAT syllabus. Each solution explains not just the correct answer but also gives you an understanding of the topic — not just to attempt the question but also help you prepare for the exam with practice.

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