Current Affairs - 3 January 2015

Government accepts report on safety of northeastern people

• 

  The government has accepted the recommendations of a committee that has suggested immediate measures to ensure the safety of people from India's northeast in Delhi and other major cities.
  "The government (has) accepted the recommendations of the Bezbaruah committee with regard to immediate measures," Home Minister Rajnath Singh told the media Friday.
  "The government is committed (to the) safety and security of people from the northeast region living in Delhi and other metropolitan cities," he added.
  The committee headed by M.P. Bezbaruah, a member of the North Eastern Council, was set up in February 2014 after a 19-year-old student from Arunachal Pradesh, Nido Tania, died here after he was attacked.
  The panel was formed to look into the concerns of the people of the northeast living in other parts of the country and suggest suitable remedial measures.

“GYAN SANGAM” Inaugurated

• 

  Two days’ “Retreat for Banks and Financial Institutions” called “ज्ञान संगम” “Gyan Sangam” would be inaugurated by Shri Jayant Sinha, Minister of State for Finance at National Institute of Banking Management (NIBM), Pune, Maharashtra.  Participants in the Bankers’ Retreat include Dr. Hasmukh Adhia, Secretary, Department of Financial Services (DFS), Regulators, Officers of the Ministry of Finance, Top Management of all Public Sector Banks (PSBs), Insurance Companies and Financial Institutions (FIs).
   This retreat has been held to take forward the government’s commitment to reforms in the financial sector.  The growth and change in the financial sector ought to be in tune with the development in the real sector.
   The idea of organising such a retreat is to provide an informal academic environment, which can bring out the creative best of the minds of professionals and regulators.   
   The chief Executives of these organisations, from their years of experience in the business, have many ideas about the reforms in banking sector. The objective of this Retreat is to arrive at a common understanding among the professionals, Regulators and the government on the reform, required in the Public sector Banks in the current economic situations.
  Two days programme is annexed.
   The programme includes a separate session devoted to sharing of the best Practices followed by different Banks.  ‘Learning from each other’ is major objective of this session.  The following best practices would be shared in this session:
  
  ·         Axis Bank - the Mobile Youth account Retail banking Product design based on life insights.
  
  ·         IDBI Bank - The Electronically secured bank and treasury receipts and Payments. This also includes Electrification of Government receipts and customer convenience.
  
  ·         State bank of India - A Specialized cadre of IT function.  This has created a viable track for specialist talent in public sector banking.
  
  ·         Andhra Bank - The Objective Key Result Areas (KRA) and Key Performance Indicators (KPI) for a transparent and IT enabled evaluation system of Human Resources.
  
  The participants have been divided into six groups. The groups have been formed keeping in view the outcomes related to access, efficiency, stability, profitability/value creation. 
  
  The following points have been kept in view before finalising the composition of each working group.
  
  ·         Each working group comprises of CMDs/EDs, Industry experts, McKinsey/CAFRAL, NIBM, DFS and RBI.
  ·         Each working group comprises a mix of large and smaller banks.
  ·         CMDs and EDs from the same Bank are participating in different working groups.
  ·         Insurance companies CMDs are spread across all the themes.
  ·         Financial institutions CMDs would participate in priority sector lending group.
  ·         Participants in each group would nominate their group leader.
  
  The six main themes for group discussions are:
  
  ·         Achieving universal Financial Inclusion.
  ·         Leveraging Technology and digitalisation to improve banking operations efficiency.
  ·         Rethinking Priority sector lending.
  ·         Improving Risk management, asset Quality and recovery.
  ·         Building a robust people strategy for PSBs.
  ·         Consolidation and restructuring of PSBs for better efficiency, governance and capital efficiency. 
  
  These groups would hold discussions and finalise their reports and present them before the Hon’ble Prime Minister on 3rd January, 2015.
  
  On the 3rd January, 2015, the second day of Retreat will be graced by Hon’ble Prime Minister Shri Narendra Modi and Union Finance Minister Shri Arun Jaitley.

Objectives and Composition of NITI Aayog

• 

  The Government has replaced Planning Commission with a new institution named NITI Aayog (National Institution for Transforming India). A cabinet Resolution issued today gave details of the new institutions. The institutional framework of government has developed and matured over the years.   This has allowed the development of domain expertise which allows us the chance to increase the specificity of functions given to institutions.  Specific to the planning process, there is a need to separate as well as energize the distinct ‘process’ of governance from the ‘strategy’ of governance.
  In the context of governance structures, the changed requirements of our country, point to the need for setting up an institution that serves as a Think Tank of the government – a directional and policy dynamo.  The proposed institution has to provide governments at the central and state levels with relevant strategic and technical advice across the spectrum of key elements of policy.  This includes matters of national and international import on the economic front, dissemination of best practices from within the country as well as from other nations, the infusion of new policy ideas and specific issue-based support.  The institution has to be able to respond to the changing and more integrated world that India is part of.
  An important evolutionary change from the past will be replacing a centre-to-state one-way flow of policy by a genuine and continuing partnership with the states.   The institution must have the necessary resources, knowledge, skills and, ability to act with speed to provide the strategic policy vision for the government as well as deal with contingent issues.
  Perhaps most importantly, the institution must adhere to the  tenet that while incorporating positive influences from the world, no single model can be transplanted  from outside into the Indian scenario. We need to find our own strategy for growth.  The new institution has to zero in on what will work in and for India.   It will be a Bharatiya approach to development.
  The institution to give life to these aspirations is the NITI Aayog (National Institution for Transforming India).  This is being proposed after extensive consultation across the spectrum of stakeholders including inter alia state governments, domain experts and relevant institutions.  The NITI Aayog will work towards the following objectives:
  To evolve a shared vision of national development priorities, sectors and strategies with the active involvement of States in the light of national objectives.    The vision of the NITI Aayog will then provide a framework ‘national agenda’ for the Prime Minister and the Chief Ministers to provide impetus to.

Latvia begins six-month European Union presidency

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  Riga: Latvia on 1 January 2015 began its presidency of the Council of the European Union (EU), declaring involvement, growth and sustainability as the presidency’s main principles.
  Latvia will be presiding over the Council of the EU Jan 1-June 30. The approximately 200 events Latvia is planning to organise and host during this period include informal meetings of EU ministers and experts, conferences, seminars and other events. The new building of the Latvian National Library, which opened in 2014, will be the main venue of these meetings, according to Xinhua.
  The events planned during the Latvian presidency will be organised in four levels. The top level events will include the EU’s Eastern Partnership Summit, which Latvia will host in May, 10 informal meetings of EU ministers, as well as meetings of EU and Asian education and science ministers. The Eastern Partnership Summit is expected to become one of the pivotal events of Latvia’s EU presidency.
  The events of the second level will include 55 meetings of member states’ top bureaucrats or state secretaries. These meetings will be organised in workgroups to prepare for the informal meetings of the ministers. The third level events will include 54 meetings at which experts from line ministries will be conferring in workgroups.
  Latvia is also planning 37 events of the fourth level, including seminars, conferences, the assembly’s seminars with representatives of non-governmental organisations and various other events. Apart from the events planned in Latvia, many events will be organised also in Brussels.
  The trio of Italian-Latvian-Luxembourgish EU presidencies started July 1 last year when Italy took over the rotating EU presidency. Latvia will be holding the EU presidency in the first half of 2015, and Luxembourg will take over from Latvia in the second half of 2015.
  The presidency trio means that three member states that are due to hold the presidency one after another cooperate among themselves to ensure the success of their successive presidencies. The Council of the EU is an institution where national ministers from each EU country meet to adopt laws and coordinate policies. The presidency of the council rotates every six months among the governments of EU member states.

102nd Indian Science Congress

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  Experts from 28 DRDO laboratories will be present at the “102nd Indian Science Congress” to be held from 03- 07 January 2015 in Mumbai. The experts will also present during   “Pride of India-Science Expo” being held along with the “102nd ISC” for lively interactions. DRDO is the R&D wing of the Ministry of Defence, with its 52 laboratories and establishments engaged in development of weapon systems, platforms and equipment for the armed forces. Many of these, particularly the soldier support systems, have found civil applications. Bio-toilets, variety of packaged, ready to eat food, agro-animal technologies for high altitudes and explosive detection kit are salient examples.
  ‘CBRN-Unmanned Ground Vehicle’ and torpedo Varunastra will be start attractions among outdoor exhibits.  The other models and exhibits will cover wide range of products of R&D in DRDO. These will include strategic and tactical missiles Agni, Prithvi, Nag, Akash, BrahMos and Astra; AEW&CS aircraft – often called ‘eyes-in-the-sky’, Tejas - Light Combat Aircraft, UAVs NISHANT and Lakshya, Arjun main battle tank, Armoured ambulance & Combat improved Ajeya; Autonomous Underwater Vehicle and Mareech Decoy, military communication equipment; Electronic Warfare systems, Night Vision Devices: Microwave Devices; NBC protective systems; Flameless Heating Pack for instant food warming, Nano technology based products; Agro-animal technologies; “Packaged Food products”.  The other products / models on display include Pinaka launcher, Radars, parts of indigenous gas turbine engine, light weight laser target designator with thermal imager, holographic sight with gun, inertial navigation systems (INS) based on Fiber Optic Gyroscope (FOG), Ring Laser Gyroscope and MEMS, Thermal battery, Ceramic Radome, bullet proof jacket and other ballistic protection items, systems and products for protection from nuclear biological and chemical (NBC) warfare agents, e-nose for explosives detection.
  Dr Satish Kumar, DS & Chief Controller R&D (Technology Mgmt.) will address the audience during the public outreach session on 03rd January at main pandal, covering wide spectrum of DRDO products and technologies. Shri Anil Datar, Director General (Armament & Combat Engineering Cluster), will chair a session on ‘Innovate and Make in India’ on 06 January Dr (Mrs) Shashi Bala Singh, OS & Director, Defence Institute of Physiology and Allied Sciences (DIPAS), is giving presidential address: “Improving Health and Habitability of Troops in Extremes of Environment” In addition other experts: Abhai Kumar, Neeru Tiwari, Dhurjati Majumdar, Usha Panjwani, Nidhi Sandal, Deepti Majumdar, D. N. Tripathi, Amit Saraiya, Debmalya Roy, Alok Kumar Srivastava  are giving talks in various sessions.

New 3-D culture system for pancreatic cancer developed

• 

  New York :  In a breakthrough, a new 3-D method to grow pancreatic tissue not only from laboratory mouse models but also from human patient tissue has been developed offering a path to personalised treatment approaches in the future.
  The work described as three-dimensional “organoid” culture system for pancreatic cancer has been developed jointly by Cold Spring Harbor Laboratory (CSHL) and The Lustgarten Foundation.
  Using the method, scientists can also interrogate the pathways driving the disease while searching for new drug targets.
  “With this development, we are now able to culture both mouse and human organoids, providing a very powerful tool in our fight against pancreatic cancer,” said David Tuveson, CSHL professor and director of research for The Lustgarten Foundation Tuveson.
  It provides a way for scientists to grow organoids from biopsy material, which is comparatively easy to obtain.
  “Biopsies are the standard for diagnosis. We can now rapidly generate organoids from any patient, which offers us the potential to study the disease in a much wider population,” said Dannielle Engle, a lead author.
  Until now, scientists could not culture human normal ductal pancreatic cells under standard laboratory conditions.
  The organoids are entirely made up of ductal cells, eliminating the surrounding cell types that often contaminate samples from the pancreas.
  They grow as hollow spheres within a complex gel-like substance filled with growth-inducing factors and connecting fibers.
  Once they have grown to a sufficient size, the organoids can be transplanted back into mice, where they fully recapitulate pancreatic cancer.
  The team is now working to create a repository of pancreatic tumor samples.

World’s highest number of people internally displaced by conflict

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  Assam had the highest conflict induced Internally Displaced Persons in the world during the year 2014, according to a report prepared by Asian Centre for Human Rights and released in Guwahati on Friday.
  The report was prepared following field visits to the affected areas and claimed that there are over 3,00,000 internally displaced persons (IDPs) in Assam, which is the highest in the world during 2014.
  The displaced persons are currently reeling under a man-made humanitarian crisis in 85 relief camps in four districts of Assam — Sonitpur, Kokrajhar, Udalguri and Chirang districts, ACHR’s director Suhas Chakma said.
  The IDPs, mainly Adivasis, have been fleeing their homes following the killing of over 80 Adivasis by the NDFB(S) on December 23, 2014 in Sonitpur, Kokrajhar and Chirang districts.
  An ACHR team assisted by Adivasi civil society organisations visited the affected areas on December 27 and the team had limited access as curfew was imposed in Sonitpur and Udalguri districts. The police did not allow visit to interior places for security reasons.
  The team visited Jiagabharu High School Relief Camp, Hugrajuli Relief Camp and Tinisuti Relief Camp.
  ACHR urged the state government to fully extend humanitarian assistance to all displaced persons irrespective of whether their villages were directly attacked or not.
  They also demanded rehabilitation of displaced persons by providing adequate assistance such as housing, food rations for six months and ensuring that no relief camp was forcibly closed down and inmates asked to leave.
  ACHR also called for adequate security to IDPs voluntarily willing to return to their villages.

High-end equipments deployed to locate AirAsia jet

• 

  An international team equipped with acoustic equipment today arrived at the suspected crash site of the AirAsia jet in search for the plane's flight recorders as search crews recovered seven more bodies from the choppy waters of the Java Sea.
  With the recovery of more bodies, the rescue agency narrowed the area of search.
  Rear Marshal Henry Bambang Soelistyo, head of Indonesia's National Search and Rescue Agency, said bad weather was a worry, with forecasts of rain, strong winds and high waves up to four metres till Sunday.
  He said that wreckage and bodies are spread over an area of 5km of the Java Sea off Borneo.
  The search was now focusing on an area of 1,575 nautical square miles of the Java Sea off Borneo, he told reporters.
  The Frog Troops will dive to the bed of the Java Sea as the joint Search and Rescue (SAR) operation team believes that many of the passengers are still strapped into their seats in the plane wreckage.
  "Divers are already on standby at the navy ship Banda Aceh to dive on that priority area to locate the body of the plane," he said. "I hope we'll get a significant result today."
  "We will focus on underwater detection," said Soelistyo, adding that ships from Indonesia, Malaysia, Singapore and the US had been on the scene.
  Over 90 vessels and aircraft involved in the search and rescue operation, said AirAsia.
  Bodies of 16 out of the 162 people have been recovered so far.
  France's BEA crash investigation agency, which attends the crashes of all Airbus planes, was also on the scene with two hydrophones, or underwater acoustic detection devices.

Tropical forests absorb far more CO2 than thought

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  Tropical forests may be absorbing far more carbon dioxide in response to its rising atmospheric levels than many scientists thought, a new NASA-led study says.
  Tropical forests absorb 1.4 billion metric tonnes of carbon dioxide out of a total global absorption of 2.5 billion - more than what is absorbed by forests in Canada, Siberia and other northern regions, called boreal forests.
  “This is good news because uptake in boreal forests is already slowing, while tropical forests may continue to take up carbon for many years,” said David Schimel of NASA’s Jet Propulsion Laboratory in Pasadena, California.
  Forests and other land vegetation currently remove up to 30 percent of human carbon dioxide emissions from the atmosphere during photosynthesis.
  In case the rate of absorption slows down, the rate of global warming would speed up.
  The study is the first to devise a way to make comparisons of carbon dioxide estimates from many sources at different scales.
  Researchers made use of atmospheric models, satellite images and data from experimental forest plots.
  “Until our analysis, no one had successfully completed a global reconciliation of information about carbon dioxide effects from the atmospheric, forestry and modelling communities,” said Joshua Fisher of JPL and co-author.
  As human-caused emissions add more carbon dioxide to the atmosphere, forests across the globe are using it to grow faster, reducing the amount that stays airborne.
  This effect is called carbon fertilisation.
  “All else being equal, the effect is stronger at higher temperatures, meaning it will be higher in the tropics than in the boreal forests,” Schimel pointed out.

West dumping e-waste in India and china

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  Developed countries are dumping their electronic and electrical waste, popularly termed e-waste, in countries like India and China in the name of ‘charity,’ a recent study conducted by researchers in India, China and UK has revealed.
  “A huge amount of used electrical items and equipment are entering India and China from different developed countries. Those items are free from all type of associated duties as they are meant for charity purposes. But as they are all used items they soon add up to our e-waste,” said Sadhan K Ghosh, a professor of mechanical engineering department in Jadavpur University and president of the International Society of Waste Management’s Kolkata chapter.
  Ghosh led an eight-member team of researchers from UK, China and India which conducted a comparative analysis of the e-waste scenario in the three countries.
  He said that in the early 80’s Basel Action Network banned the import of hazardous waste. Later many other such acts have come up including official declaration of China in 2000 and India in 2008 on ban of e-waste import. But the traffickers have always been successful to find some shunt way.
  “An estimated amount of 80% of e-waste is shipped to different parts of Asia including India. The Ministry of Environment and Forest has made import of e-waste illegal. But despite this some e-waste trafficking still takes place,” Ghosh said.
  A report of the United Nations predicted that by 2020, e-waste from old computers would jump by 400% on 2007 levels in China and by 500% in India. Additionally, e-waste from discarded mobile phones would be about seven times higher than 2007 levels in China and in India 18 times higher by 2020.
  In the UK, there are some companies which hold the contracts for handling the total waste from the local authorities. However, for specific streams like e-waste, smaller firms are given subcontracts to deal with it. After collection from dump site these small firms export it instead of sending it to the recyclers.

New compound that kills cancer cells found

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  A small new molecule that can kill cancer cells and shrink tumour growth by targeting the ‘biological clock’ has been discovered.
  Researchers at the University of Texas Southwestern Medical Centre in the US found that the molecule called 6-thiodG could stop the growth of cancer cells in culture and decrease the growth of tumours in mice.
  “We observed broad efficacy against a range of cancer cell lines with very low concentrations of 6-thiodG, as well as tumour burden shrinkage in mice,” said Dr Jerry W Shay, Professor and Vice Chairman of Cell Biology at UT Southwestern.
  6-thiodG acts by targeting a unique mechanism that is thought to regulate how long cells can stay alive, a type of ageing clock.
  This biological clock is defined by DNA structures known as telomeres, which cap the ends of the cell’s chromosomes to protect them from damage, and which become shorter every time the cell divides.
  Once telomeres have shortened to a critical length, the cell can no longer divide and dies through a process known as apoptosis.
  Cancer cells are protected from this death by an RNA protein complex called telomerase, which ensures that telomeres do not shorten with every division.
  Telomerase has therefore been the subject of intense research as a target for cancer therapy.
  Drugs that successfully block its action have been developed, but these drugs have to be administered for long periods of time to successfully trigger cell death and shrink tumours, leading to considerable toxicities.
  This outcome is partially because cells in any one tumour have chromosomes with different telomere lengths and any one cell’s telomeres must be critically shortened to induce death.
  6-thiodG is preferentially used as a substrate by telomerase and disrupts the normal way cells maintain telomere length.
  Because 6-thiodG is not normally used in telomeres, the presence of the compound acts as an ‘alarm’ signal that is recognised by the cell as damage. As a result, the cell stops dividing and dies.
  “Using telomerase to incorporate toxic products into telomeres is remarkably encouraging at this point,” said Wright.
  “Since telomerase is expressed in almost all human cancers, this work represents a potentially innovative approach to targeting telomerase-expressing cancer cells with minimal side effects on normal cells.

BANKING AWARENESS PRACTICE QUESTIONS

• 1. Who among the following is the primary regulator of Banking business?
  a) Reserve Bank of India
  b) Central Government
  c) State Government
  d) Parliament
  e) a and b both the above.

• 2. The main business of banks is to accept deposits from the public. However, a bank can refuse to
  permit opening an account on behalf of _______:
  a) Undesirable persons
  b) Artificial persons
  c) Arrested persons
  d) Convicted persons
  e) All of the above

• 3. Banks are required to monitor transactions of suspicious nature for reporting to the authorities under anti- money laundering measures. The purpose of reporting is:
  a) Combating finance of terrorism
  b) To check hawala transactions
  c) To check the inflow of crime money
  d) To check inflow of the money earned out of sale of narcotics
  e) All the above

• 4. Acceptance of deposits by non - banking financial companies is regulated by RBI under:
  a) Non - banking financial companies acceptance of public deposits (Revenue Bank) directions 1998
  b) Non - banking financial companies acceptance of government deposits (Revenue Bank) directions, 1998
  c) Non - banking financial companies acceptance of public deposits (Revenue Bank) directions, 1998
  d) Non- banking financial companies acceptance of deposits money lenders (Revenue
  Bank) directions, 1998
  e) None of the above

• 5. If a company, which is not a non - banking financial company wants to collect public deposits, it is governed by ___ Act:
  a) RBI Act 1934
  b) Banking companies Act
  c) Companies Act 1956
  d) Central Government
  e) None of the above

• 6. Companies whose main business is not financing or lending are permitted to accept deposits under section 45(s) of RBI Act only from:
  a) Public
  b) Relatives in the from of loans
  c) Friends
  d) All of the above
  e) None

• 7. Every Banking company is required to use the word Bank in its name and no company other than a Banking company can use the words Bank, Banker or Banking as a part of its name as per:
  a) Section 7 of Banking Regulation Act
  b) Section 7 of RBI Act
  c) Section 7 of SEBI Act
  d) Section 7 of Nationalization Act
  e) None of the above

• 8. In India, it is necessary to have license from the RBI for opening a new branch. This is a requirement under ____ Act
  a) Section 22 of banking Regulation Act
  b) Section 22 of RBI Act
  c) Section 22 of NABARD
  d) KYC Guidelines by RBI
  e) a and b above

• 9. Section 6(A) of B.R. Act has given the list of ancillary services which can be rendered by a Bank under the Banking Regulation Act. in the event that a Bank wants to undertake any other services (other than the list):
  a) the bank can seek authority from the RBI
  b) Board of directors of that Bank can decide the business suitable to the bank
  c) it can be decided by the Bank in the shareholders meeting
  d) Bank can do so if that business is notified by the Central Government as the lawful business of a Banking company
  e) None of the above

• 10. Banking Companies are prohibited under Sec 8 of banking Regulation Act to sell and purchase securities. Yet Banks are selling securities (of the customer) which are under pledge as permitted by:
  a) Indian Contract Act
  b) SARFAESI Act
  c) Government Notification 
  d) Banking Regulation Act
  e) None of these

• 11. Section 9 of the Banking Regulation Act prohibits the banking Companies from holding any
  immovable property except for its own use for a period of not more property. The RBI may extend this period for a further period of ______:
  a) 2 years
  b) 4 years
  c) 5 years
  d) 6 years
  e) None of the above

• 12. Which of the following stock exchange is derecognized by SEBI on 19.11.2014 on the allegations of serious irregularities in its functioning?
  a) Bombay Stock Exchange
  b) Delhi Stock Exchange
  c) Calcutta Stock Exchange
  d) Bangalore Stock Exchange
  e) None of the above

• 13. Which of the following is not a function of General Insurance?
  a) Cattle Insurance
  b) Crop Insurance
  c) Marine Insurance
  d) Fire Insurance
  e) Medical Insurance

• 14. Liability- side of the balance-sheet comprises:
  a) Capital and reserve
  b) Long-term liabilities
  c) Current liabilities
  d) All of the above
  e) None of the above

• 15. Minimum cash reserves fixed by law constitute ___
  a) A percentage of aggregate deposits of the bank
  b) A percentage of aggregate loans and advances of the bank
  c) A percentage of capital & reserves of the bank
  d) All of the above
  e) None of these

• 16. Which of the following organizations/ agencies has sought an emergency fund of Rs.1000 crore
  from banks to tackle acute liquidity crisis, which is coming in the way to give loans to micro borrowers?
  a) Regional Rural & Cooperative Banks
  b) RBI
  c) Micro Finance Institutions
  d) NABARD
  e) None of the above

• 17. Which of the following types of accounts are known as "Demat Accounts"?
  a) Zero Balance Accounts
  b) Accounts which are opened to facilitate repayment of a loan taken from the bank. No
  other business can be conducted from there
  c) Accounts in which shares of various companies are traded in electronic form
  d) Accounts which are operated through internet banking facility
  e) None of the above

• 18. Mortgage is a:
  a) Security on movable property for a loan
  b) Security on immovable property for a loan
  c) Concession on immovable property
  d) Facility on immovable property
  e) Security on loan sanctioned against fixed deposits

• 19. ___ assumed charge as the Minister of State for Micro, Small & Medium Enterprises (MSME) on 11th November 2014.
  a) Gopal Singh
  b) Veerabhadra Singh
  c) Manoj Tiwari
  d) Giriraj Singh
  e) Raju Bhai Gandhi

• 20. Identify the well known person related to Banking field in India from the following?
  a) Mrs. Meira Kumar
  b) Mrs. Kiran Shaw
  c) Mr. Arun Jaitley
  d) Dr. D subbarao
  e) All of the above

• 21. Currency notes deposited in the currency chest are the property of ____?
  a) Respective bank
  b) RBI
  c) SBI
  d) Government of India
  e) Respective state Government

• 22. A fixed deposit receipt is kept with the bank for its safety, is known as ___?
  a) Safe custody
  b) Safe deposit
  c) Locker
  d) Valid safe deposit
  e) None of the above

• Answer :
  1) a 2) a 3) e 4) a 5) c 6) b 7) a 8) a 9) d 10) d 11) c,
  12) b; 13) e; 14) d; 15) a; 16) d; 17) c; 18) b; 19) d; 20) d; 21) b; 22) a.