Six labour schemes launched in 'Make in India'
- After inviting domestic and foreign firms to make in India, Prime Minister Narendra Modi is set to unveil half a dozen schemes on October 16 that would bring much needed relief to manufacturers from the country’s cumbersome labour laws as well as provide skilled manpower to these factories.
The labour ministry is organising an event titled ‘Shrameva Jayate’ to launch six of its revamped schemes including the universal account number (UAN) for subscribers of the EPFO, on-line compliance system for labour laws, a new labour inspection system, revamped Industrial Training Institutes(ITIs), apprenticeship scheme and health insurance plan for unorganised sector workers.
“The event planned for October 16 is aimed to address the requirements of all — employers as well as workers from the cumbersome labour laws. While we have been working on these schemes for long, they will be formally launched next week,” said a senior labour ministry official.
Hudhud crossed the East coast of india at INS Kalinga
- The eye of very severe cyclonic storm Hudhud crossed the East coast of india at INS Kalinga, North of Vishakhapatnam, between Vishakhapatnam and Bheemilipatnam today (12 Oct 14) at about 1130 hrs. The cyclone had been moving at a speed of approx 20 kmph with wind speeds of the order of 180 kmph. The winds reduced considerably as the eye of the storm passed over the region. However, the rainfall is likely to continue for next 24 hours.
The Eastern Naval Command had been put on high alert to provide any assistance towards rescue and relief of affected persons. Towards this end the preparations made included readying ships, aircraft and diving teams. Indian Naval Ships Ranjit, Shivalik, Shakti and Airavat are ready to sail with relief material for 5000 personnel embarked onboard the ships. Additionally, four more ships have been kept ready for sailing at short notice for relief operations as required. Two Dornier fixed wing aircraft and six helicopters are also ready for deployment and one Long range Maritime Reconnaissance aircraft (P 8I) has also kept standby for carrying out damage assessment once the cyclone passes and wind speeds reduce.
India in Automatic exchange of information on tax matters
- India may have to wait longer for joining "selected" countries with whom Switzerland plans to do automatic exchange of information on tax matters, even as Indian and Swiss officials will meet soon to iron out their bilateral arrangements on suspected tax evasion cases.
Switzerland has started a process for putting in place a mechanism for automatic exchange of tax information with foreign jurisdictions, but in the initial phase, the Alpine nation has decided to focus only on European Union and the US.
"The primary focus is on the European Union (EU) and its member states, as well as the United States. Negotiations on the automatic exchange of information with other selected countries are to be examined," a Swiss Federal Department of Finance spokesperson told PTI from Berne.
India, Bangladesh to work on JMB
- The government has agreed for greater cooperation with Bangladesh regarding its concern over the reported activities of groups like the Jamaat-ul-Mujahideen Bangladesh (JMB) using India as a base.
The outfit was banned by the Bangladeshi government in 2005. The neighbouring country has also expressed its concern over the sources of funding for group.
Sources familiar with these developments told HT that security-cooperation with Bangladesh remains a top priority for the NDA government and both sides have long been ‘sensitive’ to each other’s concerns.
Pak, Afghanistan ink power transit fee accord
- Pakistan and Afghanistan have signed an agreement on electricity transit fees, a deal that will facilitate transmission of cheaper electricity from Central Asia to the South Asian country.
Finance minister Ishaq Dar and his Afghan counterpart Omar Zakhilwal inked the deal in the presence of World Bank President Jim Yong Kim and US Special Representative for Af-Pak Dan Feldman in Washington yesterday, media reports said here today.
WB chief welcomed the deal as a success towards meeting Pakistan's power requirements and establishing commercial arrangements for the trade of 1,300MW of electricity between the Kyrgyz Republic, Tajikistan, Afghanistan and Pakistan as part of the Central Asia South Asia Electricity Transmission and Trade Project (CASA-1000).
Dar described the deal as "a major step towards closer partnership with Kabul that will allow the supply of Central Asian electricity to Pakistan through Afghan territory for a transit fee of 1.25 cents per KW." "It's a win-win for both countries," Dar said.
"This marks a new beginning towards greater economic cooperation between the two countries. Pakistan is committed to greater economic and trade cooperation with Afghanistan," he was quoted as saying by the media.
Afghan Finance Minister Zakhilwal said his country was ready to realise the CASA-1000 vision and improve energy security and trade for the two nations and the region.
Indian-owned brand in world’s top 100
- Tata group’s Land Rover has forayed into an elite club of world’s 100 most valuable brands as the only Indian-owned entity, while iconic Apple has retained its top slot with nearly USD 119 billion valuation.
Land Rover, an iconic British car brand owned by Indian conglomerate Tatas, has been ranked 91st with a brand value of USD 4.47 billion and is one of the five new entrants on this annual list compiled by leading brand consultancy Interbrand.
Apple — maker of iPhone mobiles, Mac computers, iPad tablets and iPod music players among others — is followed by Google on the second position (USD 107 billion). These are the only two with brand values in excess of USD 100 billion.
While Land Rover is the only Indian-owned entity on the list, there are at least six other brands ranked among top 100 that are part of the entities run by Indian-origin CEOs.
SC raps government over state of affairs in Air India
- With Air India grappling with financial crisis, the Supreme Court has rapped the government for giving “profitable routes” to private carriers and asked it to plan a turnaround in the national carrier saying it “faces extinction” if things continued like this.
“Why many lucrative routes have been given to private carriers,” a bench comprising justices Vikramjit Sen and Kurian Joseph observed while expressing concern over Air India taking a beating against private airways, post merger of Air India and Indian Airlines.
The bench, which wanted the Civil Aviation Ministry to think over the various issues plaguing the national carrier, also said other area of concern was the priority given to private airlines with Air India aircraft being asked to hover around during the peak landing hours causing huge loss of money on fuel.
China slams US as crowds reassemble in Hong Kong
- Protests in Hong Kong continue to follow a roller-coaster path, with huge crowds which have once again converged on the streets, facing a Monday ultimatum by authorities to disperse.
After a sharp decline in mobilisation following an initial high, crowds supporting the protests surged yet again on Saturday night in the Admiralty area, the political heart of Hong Kong. The build-up followed calls for a demonstration of street power by protests leaders, after the government earlier stepped back from proposed
talks, which it said were possible only if the agitators stayed at home.
Gaza reconstruction conference opens in Cairo
- An international donors’ conference to help Gaza rebuild after the devastating, 50-day Israel-Hamas war this summer has opened in Cairo with participants expected to pledge hundreds of millions of dollars.
Egyptian leader Abdel-Fattah el-Sissi kicked off the one-day gathering Sunday involving envoys such as U.S. Secretary of State John Kerry. Egypt’s government negotiated a cease-fire that ended the fighting on Aug. 27.
In his address, Mr. Sissi said the reconstruction of Gaza hinged on a “permanent calm” between Hamas and Israel. He said it also required the exercise of “full authority” by the Palestinian Authority, led by Western-backed President Mahmoud Abbas.
The latest Hamas-Israel was the most ruinous of three wars between Hamas and Israel since 2008, leaving more than 2,000 Palestinians, mostly civilians killed. Another 10,000 were wounded, and some 100,000 people remain homeless.
GENERAL AWARENESS PRACTICE MCQs FOR ALL BANK EXAMS 2014
- 1. The concept of "Carbon Credit" is associated with which of the following
areas?
1) Protection of environment
2) Women empowerment
3) Development
of rural infrastructure
4) Development of coal mines
5) None of these - 2. As we all know Government is paying much attention to improve Public
Distribution System (PDS) in our country. Which of the following have been the
achievements of the PDS uptill now,
owing to which Government wants to further improve it? [Pick up correct statement(s)]
A) After implementing PDS in India, no famine was reported. PDS was always there to give people at least the bare minimum to survive.
B) A drought of 1987 was worst in this century but PDS played a vital role in overcoming the drought.
C) Now PDS is feeding the poorest of the poor in this country.
1) Only A
2) Only B
3) Only C
4) All A, B and C are correct
5) None of these - 3. Many times we read about SHGs in financial newspapers. What is the full form
of the term?
1) Small Help Groups
2) Self Help Groups
3) Small Hope in Growths
4) Self Hope Groups
5) None of these - 4. Whenever newspapers talk about the performance of core industries. Which of
the following is NOT considered among them?
1) Petroleum
2) Automobile
3) Mining
4) Steel
5) Cement - 5. Which of the following agencies / organizations in India maintains the Micro
Finance Development and Equity Fund which was in news recently?
1) Confederation of Industries in India (CII)
2) Indian Bank's Association (IBA)
3) Small Industries Development Bank of India (SIDBI)
4) Reserve Bank of India (RBI)
5) National Bank for Agriculture and Rural Development (NABARD) - 6. Many times we read about Hawala transactions in newspapers. Hawala in India
is prohibited under the provision of which of the following Acts?
1) Fiscal Responsibility & Budget Management Act
2) Banking Regulation Act
3) Financial Action Task Force Act
4) Foreign Exchange Management Act
5) None of these - 7. As we all know DIPP is the nodal agency in the field of foreign investments
in India. What is the full form of DIPP?
1) Department of Industrial Policy and Promotion
2) Department of Industrial Procedures and Promotions
3) Directorate of Industrial Procedures and Promotions
4) Directorate of Industrial Policy and Publicity
5) None of these - 8. Many times we read about the performance of Asian Markets in various
financial newspapers. Which of the following is NOT included in Asian
Market?
1) Japan
2) China
3) Hong Kong
4) South Korea
5) Brazil - 9. As per news in various newspapers ‘kfw’ Group released another instalment of
its financial aid to India. kfw is an organisation / bank based in
.............. .
1) France
2) Japan
3) Italy
4) China
5) Germany - 10. Which of the following countries has become the main supplier of Defence
goods to India and has replaced Russia?
1) Canada
2) USA
3) Israel
4) France
5) None of these - 11. As per existing policy, new foreign investments in manufacturing of which of
the following is not allowed?
1) White cement
2) Plastic goods
3) Cigarette and Cigars
4) Polythene bags
5) Pesticides - 12. Which of the following in NOT amongst the Prime Minister's new 15 point
programme?
1) Enhanced Credit Support for economic activities
2) Modernising Madarsa education
3) Improvement in condition of slums inhabited by minorities
4) Free train journey for unemployed youths
5) Rehabilitation of victims of communal riots - 13. India's political relations with its neighbouring countries a critical part
of its .......
1) Industrial policy
2) Trade policy
3) Foreign policy
4) Development policy
5) None of these - 14. Which of the following agencies / organisations has decided to make major
changes for ULIPs?
1) IRDA
2) RBI
3) AMFI
4) FRBI
5) None of these - 15. Which of the following is the name of the programme launched by the
Government of India to help lonely women by providing vocational training to
make them self dependent?
1) Apnalaya
2) Prayas
3) Abhiyogyata
4) Swadhar
5) Swavalamban - 16. Which of the following terms is NOT used in the game of Cricket?
1) Doosra
2) Century
3) Bouncer
4) Checkmate
5) Ashes - 17. Trupti Murgunde whose name was in news recently is a ............... .
1) Badminton player
2) Golf player
3) Lawn tennis player
4) Table tennis player
5) Cricket player - 18. Which of the following is NOT a financial term?
1) Acid Test
2) Double Fault
3) Gross Profit
4) Depreciation
5) Cash flow - 19. In the terms of economics, the recession occurring two times with a small
gap in between is known as ........... .
1) Double Deflection
2) Deflation
3) Deep Recession
4) Double Dip Recession
5) None of these - 20. Which of the following terms is NOT used in Economics?
1) Balance of Payment
2) Call Money
3) National Debt
4) Elasticity of Demand
5) Boyle's Law - 21. Which of the following ministries/ departments operates the "Village Grain
Bank's Schemes"?
1) Ministry of Tribal Welfare
2) Department of Food & Public Distribution
3) Department of Social Welfare
4) Ministry of Forest
5) None of these - 22. Which of the following books is written by Chetan Bhagat?
1) The Golden Gate
2) Journey To Ithaca
3) Fire on the Mountain
4) The Inheritance of Loss
5) 2 States: The Story of My Marriage - 23. Which of the following nations is the recent one to join Non Aligned
Movement (NAM)?
1) Fiji
2) Cuba
3) Sri Lanka
4) Colombia
5) Egypt - 24. Hiroshima Day is observed on which of the following dates?
1) 6th August
2) 16th August
3) 6th September
4) 16th September
5) 26th July - 25. Dronacharya Awards are given to a person associated with .......... .
1) Education
2) Social service
3) Journalism
4) Sports
5) Films - 26. Interest below which a bank is not expected to lend to customers is known as
.....
1) Deposit Rate
2) Base Rate
3) Prime Lending Rate
4) Bank Rate
5) Discount Rate - 27. The customers by opening and investing in the Tax Saver Deposit Account
Scheme in a Bank would get benefit under ...... .
1) Sales Tax
2) Customs Duty
3) Excise Duty
4) Professional Tax
5) Income Tax - 28. In banking business, when the borrowers avail a Term Loan, initially they
are given a repayment holiday and this is referred as...
1) Subsidy
2) Interest Waiver
3) Re-phasing
4) Interest concession
5) Moratorium - 29. A non-performing asset is .......
1) Money at call and short notice
2) An asset that ceases to generate income
3) Cash balance in till
4) Cash balance with RBI
5) Balance with other banks - 30. Government usually classifies its expenditure in term of planned and
non-planned expenditure. Identify, which is the correct definition of planned
expenditure?
1) It represents the expenditure of all the State Governments
2) It represents the total expenditure of the Central Government
3) It is the expenditure which is spend through centrally sponsored programmes and flagship schemes of Government
4) It represents the expenditure incurred on Defence
5) Other than those given as options - 31. Which of the following organization is made specifically responsible for
empowering Micro, Small and Medium enterprises in India?
1) NABARD
2) RBI
3) SIDBI
4) ECGC
5) SEBI - 32. Which of the following measures were announced by the Reserve Bank of India
on July 15, 2014 to encourage banks to extend long term loans to infrastructure
sector?
1) Banks can issue long term bonds with a minimum maturity
2) Rupee denominated bonds should be issued in ‘plain vanilla form’
3) Lending for affordable housing means loans eligible under the priority sector
4) Exemption of long term bonds from mandatory regulatory norms such as the CRR, SLR and PSL
5) All of the above - 33. Many real estate companies and private equity funds are planning to list
their commercial property portfolio through the real estate investment trusts
(REITs) in the wake of proposal made by the Union Finance Minister Arun Jaitley
in his budget speech on July 10, 2014. The incentives proposed for REITs include
-
A) For an Initial Public Offering (IPO), the size of the assets under the REIT shall not be less than 1000 crore
B) Minimum initial offer size of Rs. 250 crore and minimum public float of 25%, to ensure adequate public participation
C) The REIT may raise funds from any investors, resident or foreign
D) Till the market develops, it is proposed that the units of the REITs may be offered only to HNIs and institutions
1) Only (A), (B) and (D)
2) All (A), (B), (C) and (D)
3) Only (B) and (C)
4) Only (C) and (D)
5) Only (A) and (D - 34. As per the data revealed by the Union Urban Development Minister Venkaiah
Naidu on July 14, 2014 which of the following combinations of the State/ Union
Territory and increase in urban population during the years 2001-11 is NOT
correct?
1) Sikkim - 14.1 percent
2) Daman and Diu - 39 percent
3) Chandigarh - 7.5 percent
4) Gujarat - 6.7 percent
5) Nagaland - 10.7 percent - 35. The Reserve Bank of India on July 17, 2014 issued draft guidelines for small
and payment banks to expand banking services disburse small- ticket loans to
businesses
and farmers. Select the correct statements regarding the draft guidelines
A) The minimum capital requirement for both payments and small banks will be Rs. 100 crore
B) Non banking finance companies, business correspondents and PSUs among others can apply to set up a payments bank.
C) For small banks, resident individuals will 10 years of experience in banking, firms and societies will be eligible as promoters.
D) Promoters initial minimum contribution will be at least 40 percent with a five year lock in period
1) Only (A) and (B)
2) Only (B) and (C)
3) All (A), (B), (C) and (D)
4) Only (A) and (C)
5) Only (C) and (D) - 36. The Reserve Bank of India on July 15, 2014 gave a boost to affordable
housing by allowing banks to raise long-term funds to finance these projects,
which include....
A) Loans up to Rs.50 lakh for houses of Rs.65 lakh value in six metros.
B) Loans up to Rs.40 lakh for houses up to Rs.50 lakh value in other cities.
C) Loans under priority sector lending Rs.25 lakh to cities with population above 10 lakh; Rs.15 lakh elsewhere.
D) Support to government agency for slum clearance and rehabilitation.
1) All (A), (B), (C) and (D)
2) Only (A) and (B)
3) Only (B) and (C)
4) Only (A), (C) and (D)
5) Only (A) and (D) - 37. Which of the following guidelines were issued by the telecom regulator, the
Telecom Regulator Authority of India (TRAI) on July 21, 2014 for spectrum
sharing?
1) Spectrum can be shared across all six frequency bands - 800, 900, 1800, 2100, 2300 and 2500 MHz
2) Sharing limited to two licensees within a circle
3) No leasing of spectrum
4) No sharing between operators who do not have spectrum in the same band
5) All of the above - 38. Who among the following great players of chess were selected for the Russian
Federation's ‘Order of Friendship’ award on July 4 2014?
1) Viswanathan Anand of India and Boris Gelfand of Israel
2) Magnus Carlsen of Norway and Martin Brow of England
3) Colin McNabe of Scotland and Puchen Wang of New Zealand
4) Vlad Victor Barnaure of Romania and Mark Orr of Ireland
5) None of these - 39. Which of the following states will host the 2015 Pravasi Bharatiya
Divas?
1) Odisha
2) Rajasthan
3) Gujarat
4) Maharashtra
5) None of these - 40. Railway Minister DV Sadananda Gowda presented the Railway Budget for the
fiscal year 2014 - 15 on July 8, 2014 in the Parliament. Which of the following
combinations of particulars and sum projected in the Railway Budget 2014-15 is
NOT correct?
1) Plan Outlay - Rs.65445 crores
2) Gross Budgetary Support - Rs.30,100 crores
3) Internal Resources - Rs.11,790 crores
4) Railway Safety Fund - Rs.2,200 crores
5) All are true - ANSWERS:
1-1, 2-2, 3-2, 4-2, 5-5, 6-4, 7-1, 8-5, 9-5, 10-2
11-3, 12-4, 13-3, 14-1, 15-4, 16-4, 17-1, 18-2, 19-4, 20-5
21-2, 22-5, 23-1, 24-1, 25-4, 26-2, 27-5, 28-5, 29-2, 30-2
31-3, 32-5, 33-2, 34-4, 35-3, 36-1, 37-5, 38-1, 39-3, 40-3
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