Supreme Court rejects telcos' plea for licence extension
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NEW DELHI: The Supreme Court has dismissed a batch of petitions filed by various telecom companies, including Vodafone and Bharti Airtel, seeking extension of their spectrum licences.
"We see no merit. The petitions are dismissed," a bench headed by J Chelameswar said.
The Supreme Court had reserved its verdict on a bunch of similar petitions filed by Bharti Airtel, Idea Cellular, Vodafone Mobile Services and Loop Mobile India which had sought extension of their 20-year spectrum licences by another 10 years.
The telecom operators had challenged the government's decision to reject their applications for extension of their licences and auction the spectrum surrendered by them.
While telecom companies have argued that the terms and conditions of their 20-year licences state that they were extendable by another 10 years, the government has argued that the norms say it "may" extend the licence, and hence the matter was at its discretion.
The operators had earlier sought a stay on the auction, saying the spectrum, for which the 20-year licence has expired, should not be put on the block.
On March 23, the apex court had rejected the plea to stay the spectrum auction but agreed to hear the case expeditiously and ordered that the companies would participate in the auction without prejudice to the rights they claim on licence extension.
"We see no merit. The petitions are dismissed," a bench headed by J Chelameswar said.
The Supreme Court had reserved its verdict on a bunch of similar petitions filed by Bharti Airtel, Idea Cellular, Vodafone Mobile Services and Loop Mobile India which had sought extension of their 20-year spectrum licences by another 10 years.
The telecom operators had challenged the government's decision to reject their applications for extension of their licences and auction the spectrum surrendered by them.
While telecom companies have argued that the terms and conditions of their 20-year licences state that they were extendable by another 10 years, the government has argued that the norms say it "may" extend the licence, and hence the matter was at its discretion.
The operators had earlier sought a stay on the auction, saying the spectrum, for which the 20-year licence has expired, should not be put on the block.
On March 23, the apex court had rejected the plea to stay the spectrum auction but agreed to hear the case expeditiously and ordered that the companies would participate in the auction without prejudice to the rights they claim on licence extension.
Coalgate: Ex-CBI chief Ranjit Sinha needs to be probed for protecting accused, SC says
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NEW DELHI: In a major embarrassment to former CBI chief Ranjit Sinha, the Supreme Court on Thursday said that probe against him is needed for allegedly protecting accused of coal scam.
A bench headed by Madan B Lokur said that Sinha meeting various accused multiple times, when the probe against them was on, is highly inappropriate and it needed to be probed.
The bench also sought assistance of the CVC to decide how the probe should be done against the former CBI chief.
The court asked the CVC to file response by July 6.
The SC bench also dismissed Ranjit Sinha's plea seeking prosecution of lawyer Prashant Bhushan for alleged perjury.
Bhushan had filed the plea on behalf of an NGO seeking a probe by a special investigating team (SIT) against Sinha for alleged abuse of position for scuttling the probe into a coal block allocation scam case.
In the plea, NGO Common Cause had alleged that entries in the visitors' register of the former CBI director's residence had made it clear that he was meeting the high-profile accused and those associated with coal block allocation.
The plea had said there was a need for a court-monitored SIT investigation to ascertain "whether any consideration exchanged hands".
The bench had reserved its judgment on April 13 in the matter in which Sinha had claimed that a "hidden hand" was the "controlling mind" of Bhushan and had accused him of interfering and scuttling the probe into the coalgate.
The NGO, in its application, had submitted that since the Anti-Corruption Bureau (ACB) of Delhi Police had not lodged an FIR on its November 25, 2014 complaint, there was a need for a court-monitored probe for alleged abuse of authority by Sinha as the then director of CBI.
However, Sinha had rejected the NGO's claim that he and a few other senior officers of the level of joint director repeatedly overruled the investigating officers (IOs) and forced them not to register FIRs/RCs in cases where preliminary enquiries had been registered and directed closure of the cases.
In the plea for perjury against the NGO and Bhushan, Sinha's counsel had said "there is not a single case in which Sinha overruled the unanimous opinion of the officers working under him with regard to recommending closure in which they have recommended conversion to a regular case.
"Thus, the falsity of the statement made before this court is evident from this count alone."
NEW DELHI: In a major embarrassment to former CBI chief Ranjit Sinha, the Supreme Court on Thursday said that probe against him is needed for allegedly protecting accused of coal scam. A bench headed by Madan B Lokur said that Sinha meeting various accused multiple times, when the probe against them was on, is highly inappropriate and it needed to be probed.
The bench also sought assistance of the CVC to decide how the probe should be done against the former CBI chief.
The court asked the CVC to file response by July 6.
The SC bench also dismissed Ranjit Sinha's plea seeking prosecution of lawyer Prashant Bhushan for alleged perjury.
Bhushan had filed the plea on behalf of an NGO seeking a probe by a special investigating team (SIT) against Sinha for alleged abuse of position for scuttling the probe into a coal block allocation scam case.
In the plea, NGO Common Cause had alleged that entries in the visitors' register of the former CBI director's residence had made it clear that he was meeting the high-profile accused and those associated with coal block allocation.
The plea had said there was a need for a court-monitored SIT investigation to ascertain "whether any consideration exchanged hands".
The bench had reserved its judgment on April 13 in the matter in which Sinha had claimed that a "hidden hand" was the "controlling mind" of Bhushan and had accused him of interfering and scuttling the probe into the coalgate.
The NGO, in its application, had submitted that since the Anti-Corruption Bureau (ACB) of Delhi Police had not lodged an FIR on its November 25, 2014 complaint, there was a need for a court-monitored probe for alleged abuse of authority by Sinha as the then director of CBI.
However, Sinha had rejected the NGO's claim that he and a few other senior officers of the level of joint director repeatedly overruled the investigating officers (IOs) and forced them not to register FIRs/RCs in cases where preliminary enquiries had been registered and directed closure of the cases.
In the plea for perjury against the NGO and Bhushan, Sinha's counsel had said "there is not a single case in which Sinha overruled the unanimous opinion of the officers working under him with regard to recommending closure in which they have recommended conversion to a regular case.
"Thus, the falsity of the statement made before this court is evident from this count alone."
Nagpur's Gorewada international zoo project faces another legal hurdle
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NAGPUR: At a time when Gorewada international zoo had gained momentum, specially after the BJP-Shiv Sena government took the reins of Maharashtra, the project has hit another legal hurdle.
Forest Development Corporation of Maharashtra (FDCM), which is executing the Gorewada zoo project, district collector and others have been summoned through a show-cause notice issued by the sixth joint civil senior division judge, Nagpur, on a legal case filed by a private party. The legal dispute relates to 26 hectare non-forest revenue land that was handed over to the FDCM a couple of days ago. The GR to hand over the land to FDCM was issued on September 4, 2013, but it was actually handed over only two days ago.
One Balwant Singh Bindaprasad Khangar, a resident of Godhni, has claimed that the revenue department was handing over five acre agriculture land belonging to him and his brothers to FDCM along with the 26 hectare revenue land. "Two days ago, the revenue department and FDCM officials forced us to hand over our land to FDCM. However, the land is in our possession since 1962. We also have saat-bara (7/12 extract) about the said land, which is in the name of eight brothers," said Shankar Singh Halkasingh Khangar, nephew of the petitioner.
Khangar said land owners had moved the court. The defendants FDCM, collector and others have been directed to show-cause against the application filed by the Khangars on May 14.
The dispute will further delay the already long-pending Gorewada zoo that was announced in 2005. As per the detailed plan, the 26 hectare revenue land was meant for setting up an entertainment hub, which included ancillary activities like five-star hotel, budget hotel, resort, club house, restaurants, food kiosks, high-end malls, commercial complexes, a virtual zoo and amusement park, play zone, and many other recreational activities to supplement the zoo area.
As reported by TOI on Tuesday, already one hurdle has come up by way of applicability of Forest Conservation Act to the area on which zoo is to be set up. It being a forest area, it cannot be utilized for any other purposes without following the procedure prescribed in the Act. This means undertaking compensatory afforestation in twice the land area being diverted.
NAGPUR: At a time when Gorewada international zoo had gained momentum, specially after the BJP-Shiv Sena government took the reins of Maharashtra, the project has hit another legal hurdle.Forest Development Corporation of Maharashtra (FDCM), which is executing the Gorewada zoo project, district collector and others have been summoned through a show-cause notice issued by the sixth joint civil senior division judge, Nagpur, on a legal case filed by a private party. The legal dispute relates to 26 hectare non-forest revenue land that was handed over to the FDCM a couple of days ago. The GR to hand over the land to FDCM was issued on September 4, 2013, but it was actually handed over only two days ago.
One Balwant Singh Bindaprasad Khangar, a resident of Godhni, has claimed that the revenue department was handing over five acre agriculture land belonging to him and his brothers to FDCM along with the 26 hectare revenue land. "Two days ago, the revenue department and FDCM officials forced us to hand over our land to FDCM. However, the land is in our possession since 1962. We also have saat-bara (7/12 extract) about the said land, which is in the name of eight brothers," said Shankar Singh Halkasingh Khangar, nephew of the petitioner.
Khangar said land owners had moved the court. The defendants FDCM, collector and others have been directed to show-cause against the application filed by the Khangars on May 14.
The dispute will further delay the already long-pending Gorewada zoo that was announced in 2005. As per the detailed plan, the 26 hectare revenue land was meant for setting up an entertainment hub, which included ancillary activities like five-star hotel, budget hotel, resort, club house, restaurants, food kiosks, high-end malls, commercial complexes, a virtual zoo and amusement park, play zone, and many other recreational activities to supplement the zoo area.
As reported by TOI on Tuesday, already one hurdle has come up by way of applicability of Forest Conservation Act to the area on which zoo is to be set up. It being a forest area, it cannot be utilized for any other purposes without following the procedure prescribed in the Act. This means undertaking compensatory afforestation in twice the land area being diverted.
Modi's swag in China has Twitter abuzz
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NEW DELHI: Prime Minister's Narendra Modi's style quotient during his visit to the terracotta museum in China on Thursday had Twitter abuzz.
Modi visited the Terracotta Warriors Museum which has a large collection of sculptures depicting the armies of Qin Shi Huang, the first Emperor of China.
During his visit to the museum, Modi was dressed in a white kurta-churidar with a shawl. But, what really caught everyone's attention was his dark glasses that he had on throughout the visit. He was also seen inspecting the sculptures closely.
And as expected, Twitterati could not just let it pass by. Many commented on the Prime Minister's style and he was the subject of some funny jokes.
NEW DELHI: Prime Minister's Narendra Modi's style quotient during his visit to the terracotta museum in China on Thursday had Twitter abuzz.Modi visited the Terracotta Warriors Museum which has a large collection of sculptures depicting the armies of Qin Shi Huang, the first Emperor of China.
During his visit to the museum, Modi was dressed in a white kurta-churidar with a shawl. But, what really caught everyone's attention was his dark glasses that he had on throughout the visit. He was also seen inspecting the sculptures closely.
And as expected, Twitterati could not just let it pass by. Many commented on the Prime Minister's style and he was the subject of some funny jokes.
SC stays Kejriwal govt's circular on defamation proceedings against media houses
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NEW DELHI: The Supreme Court on Thursday stayed Arvind Kejriwal-led AAP government's circular which said that the government will pursue the case against any person for making defamatory allegation against its employees.
A bench headed by Justice Dipak Misra stayed the circular issued on May 6 allowing the government to proceed against a person who publishes defamatory imputation against Delhi CM, ministers, or any public servant.
According to the circular issued by the directorate of information and publicity department, if any officer associated with the Delhi government feels that the published or aired news item damages his or the government's reputation, he should file a complaint with the principal secretary (home).
Asking Kejriwal to explain why the directorate of information has issued "such circular", the court sought a reply within six weeks and listed the matter for further hearing on July 8.
The court passed the order on an application filed by Kapil Sibal's son Amit Sibal who had filed defamation case against Kejriwal.
Sibal, who had filed a criminal defamation complaint against Kejriwal and others in the Patiala House court here, said that while the chief minister on one hand seeks setting aside of penal laws on defamation, on the other hand he has issued such a circular.
"It is noteworthy that the petitioner (Kejriwal) in his affidavite...declares that he is working as chief minister of Delhi. However, the aforesaid circular directly contradicts and mitigates against the stand taken by him in the present petition," the plea said, adding that the stay on the trial court proceedings against Kejriwal be vacated.
A bench headed by Justice Dipak Misra stayed the circular issued on May 6 allowing the government to proceed against a person who publishes defamatory imputation against Delhi CM, ministers, or any public servant.
According to the circular issued by the directorate of information and publicity department, if any officer associated with the Delhi government feels that the published or aired news item damages his or the government's reputation, he should file a complaint with the principal secretary (home).
Asking Kejriwal to explain why the directorate of information has issued "such circular", the court sought a reply within six weeks and listed the matter for further hearing on July 8.
The court passed the order on an application filed by Kapil Sibal's son Amit Sibal who had filed defamation case against Kejriwal.
Sibal, who had filed a criminal defamation complaint against Kejriwal and others in the Patiala House court here, said that while the chief minister on one hand seeks setting aside of penal laws on defamation, on the other hand he has issued such a circular.
"It is noteworthy that the petitioner (Kejriwal) in his affidavite...declares that he is working as chief minister of Delhi. However, the aforesaid circular directly contradicts and mitigates against the stand taken by him in the present petition," the plea said, adding that the stay on the trial court proceedings against Kejriwal be vacated.
Taliban attack Kabul guesthouse 'thinking Indian envoy was inside'
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NEW DELHI/KABUL: Four Indians and an American were among those killed when Taliban gunmen stormed a guesthouse in the Afghan capital thinking that the Indian Ambassador was inside the complexpopular among foreign nationals as the attack ended after hours-long siege.
The attack started at about 9pm on Wednesday when three gunmen launched a brazen assault at the Park Palace Guesthouse, located in the Kolola Pushta area of the Kabul city.
Soon after the gunmen stormed the guest house, Afghan National Security Forces including special forces arrived and began striking back the attackers and also rescuing those under siege inside the guest house.
"Four Indians have been killed in the attack," officials sources said.
There was no clarity over the overall death toll apart from the confirmation that four Indians and an American were among the dead. At least six people were also wounded in the attack.
President Ashraf Ghani's special envoy for good governance Ahmad Zia Massoud visited the attack scene in Kabul.
The militants attacked the guesthouse thinking the (Indian) Ambassador (Amar Sinha) was present in the compound, Massoud was quoted as saying by Khaama Press.
Massoud said the assault was likely a political attack but he did not elaborate further, according to the report.
NEW DELHI/KABUL: Four Indians and an American were among those killed when Taliban gunmen stormed a guesthouse in the Afghan capital thinking that the Indian Ambassador was inside the complexpopular among foreign nationals as the attack ended after hours-long siege. The attack started at about 9pm on Wednesday when three gunmen launched a brazen assault at the Park Palace Guesthouse, located in the Kolola Pushta area of the Kabul city.
Soon after the gunmen stormed the guest house, Afghan National Security Forces including special forces arrived and began striking back the attackers and also rescuing those under siege inside the guest house.
"Four Indians have been killed in the attack," officials sources said.
There was no clarity over the overall death toll apart from the confirmation that four Indians and an American were among the dead. At least six people were also wounded in the attack.
President Ashraf Ghani's special envoy for good governance Ahmad Zia Massoud visited the attack scene in Kabul.
The militants attacked the guesthouse thinking the (Indian) Ambassador (Amar Sinha) was present in the compound, Massoud was quoted as saying by Khaama Press.
Massoud said the assault was likely a political attack but he did not elaborate further, according to the report.
Stung by its neighbour's reaction, India plays it cool after 2nd quake hit Nepal
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NEW DELHI: Stung by Nepal's reaction to India's over-generous assistance in the immediate aftermath of the April 25 earthquake, this time India is playing it slightly cool with its smaller, prickly neighbour.
On Wednesday, Prime Minister Narendra Modi spoke to his counterpart in Nepal Sushil Koirala, a conversation very different from the one that fateful Saturday two weeks ago.
Yesterday's had the air of a caring but cool neighbour. "PM Sushil Koirala & I had a telephonic conversation. We reviewed the situation arising due to yesterday's tremors." said Modi in a tweet, before going on to promise assistance.
On April 25, Modi's tweet had a very different tone. "Spoke to PM Sushil Koirala, who is in transit in Bangkok on his way to Kathmandu. Assured all support & assistance during this tough time." In fact, the PM was even quoted as saying that Koirala actually learned of the earthquake from his tweet. Within an hour, Modi had held a high level meeting to coordinate India's assistance to Nepal, thanked Morari Bapu for contributing Rs 51 lakh to Nepal and the first Indian planes were taking off within hours bound for Nepal. For the next few days Modi personally oversaw relief efforts and got his top officials - foreign, home and defence secretaries to brief the media every day.
But this time, the MEA has played it cool. Apart from the occasional tweet about Indian efforts in Nepal, many more of which are coming from the defence ministry spokesperson, India has stayed quiet. The last time, Indian planes were accused by the Nepalese of hogging the runway in Kathmandu airport, forcing India to scout for other landing grounds in Pokhara, opening up land routes etc. There were days when Nepal refused to let Indian relief planes land and they had to return to India.
Meanwhile, stories were rife about a geopolitical tussle over aid between India and China. Nepalese were quoted saying they felt "overwhelmed", while another set of voices began criticism of India's relief and rescue efforts.
Then came a backlash from the Nepalese largely in Kathmandu and overseas on social media against the wall-to-wall coverage by Indian TV channels. Under normal circumstances, Indian media gets criticized in Nepal for its neglect. This time Nepalese appeared to be put off by what they called "insensitive" and "intrusive" coverage of the earthquake, in addition to accusing Indian channels of overplaying the Indian assistance there.
Within 24 hours, Indian search and rescue teams, along with 34 others, were given marching orders from Nepal. The TV channels switched off their cameras. This time around, home minister Rajnath Singh said India would help if asked. This time there is no unsolicited assistance. It has been a signal learning curve for the Modi government and its neighbourhood-first policy.
NEW DELHI: Stung by Nepal's reaction to India's over-generous assistance in the immediate aftermath of the April 25 earthquake, this time India is playing it slightly cool with its smaller, prickly neighbour.On Wednesday, Prime Minister Narendra Modi spoke to his counterpart in Nepal Sushil Koirala, a conversation very different from the one that fateful Saturday two weeks ago.
Yesterday's had the air of a caring but cool neighbour. "PM Sushil Koirala & I had a telephonic conversation. We reviewed the situation arising due to yesterday's tremors." said Modi in a tweet, before going on to promise assistance.
On April 25, Modi's tweet had a very different tone. "Spoke to PM Sushil Koirala, who is in transit in Bangkok on his way to Kathmandu. Assured all support & assistance during this tough time." In fact, the PM was even quoted as saying that Koirala actually learned of the earthquake from his tweet. Within an hour, Modi had held a high level meeting to coordinate India's assistance to Nepal, thanked Morari Bapu for contributing Rs 51 lakh to Nepal and the first Indian planes were taking off within hours bound for Nepal. For the next few days Modi personally oversaw relief efforts and got his top officials - foreign, home and defence secretaries to brief the media every day.
But this time, the MEA has played it cool. Apart from the occasional tweet about Indian efforts in Nepal, many more of which are coming from the defence ministry spokesperson, India has stayed quiet. The last time, Indian planes were accused by the Nepalese of hogging the runway in Kathmandu airport, forcing India to scout for other landing grounds in Pokhara, opening up land routes etc. There were days when Nepal refused to let Indian relief planes land and they had to return to India.
Meanwhile, stories were rife about a geopolitical tussle over aid between India and China. Nepalese were quoted saying they felt "overwhelmed", while another set of voices began criticism of India's relief and rescue efforts.
Then came a backlash from the Nepalese largely in Kathmandu and overseas on social media against the wall-to-wall coverage by Indian TV channels. Under normal circumstances, Indian media gets criticized in Nepal for its neglect. This time Nepalese appeared to be put off by what they called "insensitive" and "intrusive" coverage of the earthquake, in addition to accusing Indian channels of overplaying the Indian assistance there.
Within 24 hours, Indian search and rescue teams, along with 34 others, were given marching orders from Nepal. The TV channels switched off their cameras. This time around, home minister Rajnath Singh said India would help if asked. This time there is no unsolicited assistance. It has been a signal learning curve for the Modi government and its neighbourhood-first policy.
GENERAL AWARENESS PRACTICE QUESTIONS FOR ALL BANK EXAMS 2015
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1. Who is the Chairman of NABARD (National Bank for Agriculture and Rural Development)?
a) Dr. Harsh Kumar Bhanwala
b) Mrs V.R.Iyer
c) HR Kamath
d) B Bhattacharya
e) R Rajendran
------------------------------------------------------------------------------------------
2. For recovery of NPA from the defaulted borrowers, SARFAESI Act 2002, is implemented. What does the letter ‘S’ stands for in SARFAESI
a) Social
b) Security
c) Seasonal
d) Stamp
e) Systematic
------------------------------------------------------------------------------------------
3. Bank holidays under Sec.25 of N.I. Act are declared by
a) RBI
b) State govt. for the respect state
c) Central govt.
d) LHO
e) Prime Minister
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4. One rupee coin issued under _____ Act
a) Coinage Act 1906
b) RBI
c) BR
d) All the above
e) None of these
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5. Clean Note policy has been introduced as per
a) Banking Regulation Act
b) RBI Act
c) SBI Act
d) PNB Act
e) None of these
------------------------------------------------------------------------------------------
6. Under prevention of Money laundering Act 2002, the financial transaction records have to be preserved for _____ years.
a) 5
b) 10
c) 20
d) 40
e) None of these
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7. Under prevention of Money laundering Act 2002, banks have to report suspicious transaction to _____
a) RBI
b) CBI
c) FIU-IND
d) LHO
e) Central Govt.
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8. RBI Has relaxed KYC norms for small account holders who do not intend to make deposits over Rs.50,000/- and total credits in the account in a year is limited to Rs. 1 lakh. Total withdrawls/ Transfer in a month does not exceed Rs. ____
a) 10,000
b) 20,000
c) 50,000
d) 60,000
e) None of these
------------------------------------------------------------------------------------------
9. When form15-H has been received, the bank shall forward the same to I.T. Department on or before ____ day of next month.
a) 3rd
b) 5th
c) 7th
d) 15th
e) 17th
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10. In which of the following transaction PAN should be quoted?
a) A time deposit exceeding Rs.50,000
b) Payment in cash to purchase bank draft or banker’s cheque for an amount aggregating Rs.50,000 or more during any one day
c) Deposit cash aggregating Rs. 50,000 or more during any one day
d) All the above
e) None of these
------------------------------------------------------------------------------------------
11. Currency Notes are printed at:
a) Nasik
b) Dewas
c) Mysore
d) Salboni
e) All of these
------------------------------------------------------------------------------------------
12. If the customer does not cooperate for making their accounts KYC compliant, despite repeated communication/ contacts, their accounts should be _____.
a) Frozen
b) Closed
c) Close the account only after
compliance of KYC
d) a or c
e) a & b
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13. As per KYC Norms / AML measures risk categorization of all customer accounts should be done and review of risk categorization should be cared out at ____ months intervals every year.
a) 3
b) 6
c) 9
d) 12
e) 15
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14. SLR has to be maintained by banks under _______
a) Sec. 24 of BR Act
b) Sec. 24 of RBI Act
c) Sec. 42 of RBI Act
d) Sec. 42 of BR Act
e) None of these
------------------------------------------------------------------------------------------
15. Who is the Chairman of IRDA?
a) T.S.Vijayan
b) Dr. Rangarajan
c) M.V.Nair
d) J.S. Bhatnagar
e) HR Khan
------------------------------------------------------------------------------------------
16. Who is the authority for referring appeals against the award of banking ombudsman?
a) Deputy Governor, RBI
b) RBI Governor
c) CMD of concerned bank
d) Group of CMDs formed by RBI
e) None of the above
------------------------------------------------------------------------------------------
17. The sponsoring bank’s share in RBIs is:
a) 50%
b) 35%
c) 15%
d) 75%
e) None of these
------------------------------------------------------------------------------------------
18. Can a HUF join as a partner in a partnership firm?
a) Can be included
b) Can be included with company
c) Cannot join
d) Can join subject to the approval of CMD
e) None of the above
------------------------------------------------------------------------------------------
19. Bank’s Lien is:
a) General lien
b) Particular lien
c) Contingent lien
d) b & c
e) None of these
------------------------------------------------------------------------------------------
20. Within how many days the CPIO (Central Public Information Officer) has to provide information under RTI Act?
a) 30 days
b) 15 days
c) 45 days
d) 10 days
e) 60 hours
------------------------------------------------------------------------------------------
21. Which of the following is not a negotiable instrument as per N.I. Act?
a) Promissory note
b) Draft
c) TDR (Term Deposit Receipt)
d) Cheque
e) None of the above
------------------------------------------------------------------------------------------
22. Which of the following is not correct in respect of issue of CP:
a) It can now be issued as a standalone facility
b) Minimum issue is Rs. 5 lakh
c) CPs can be underwritten by a bank
d) Minimum Tangible net worth of the Corporate should be Rs. 4 crore
e) All the above
------------------------------------------------------------------------------------------
23. The maximum period for which a CD can be issued is _____
a) 1 month
b) 3 months
c) 180 days
d) 1 year
e) None of these
------------------------------------------------------------------------------------------
24. What is not true about CDs?
a) It is transferable from the data issues
b) It can be issued for a minimum period of 7 days
c) It is not all transferable
d) It can be issued in demat form only
e) None of these
------------------------------------------------------------------------------------------
25. Gilt edged securities refer to ___
a) Govt. securities
b) Shares of first class companies
c) Securities issued by first class companies
d) Duplicate securities
e) Securities issued by RBI Identified Companies
------------------------------------------------------------------------------------------
26. The standard rate at which the RBI is prepared to buy or rediscount export bills or other commercial
paper eligible for purchase from banks under the RBI Act is known as _____
a) Bank rate
b) Repo Rate
c) Card rate
d) PLR
e) Base Rate
------------------------------------------------------------------------------------------
27. The result of increase in SLR by RBI is
a) Decrease in lendable resources of banks
b) Increase in loadable resources of banks
c) There will not be any change in loan able resources of banks
d) Only b and c
e) None of these
------------------------------------------------------------------------------------------
28. Blue chip securities mean ____
a) Shares of progressive, well managed companies with excellent record of payment of dividends.
b) The shares which are in blue ink
c) Securities issued by Chip Manufacturing companies
d) Securities identified by the concerned state governments
e) None of the above
------------------------------------------------------------------------------------------
29. Cash kept in the currency chest is owned by
a) Currency Chest Branch Bank
b) Central Government
c) Reserve Bank of India
d) State Bank of India
e) None of the above
------------------------------------------------------------------------------------------
30. Bank can’t proceed against the borrower under SARFAESI Act where:
a) Security is agricultural land
b) Liability is less than Rs.1 lakh
c) Liability is less than 20% of the principal
d) Pledge of movables
e) All the above
------------------------------------------------------------------------------------------
31. The minimum capital required to start a new private sector bank is________
a) 100 crore
b) 200 crore
c) 300 crore
d) 400 crore
e) 500 crore
------------------------------------------------------------------------------------------
32. RBI injects liquidity through
a) Increase Bank Rate
b) Reduction of Repo Rate
c) Reduction of Reverse Repo
d) Increase CRR
e) Increase SLR
------------------------------------------------------------------------------------------
33. A customer requested to include his wife and daughter as nominees after one year of opening of
the account. Will it be accepted?
a) It can be accepted since the nominees are the family members of the depositor
b) Cannot be considered since the request is not received at the time of opening of account
c) Can be considered with 50% share each
d) Nomination should be made only in favor of single name. Hence can’t be considered
e) None of the above
------------------------------------------------------------------------------------------
34. What is the relationship between the Bank and Overdraft Customer where the account is showing
credit balance?
a) Creditor & Debtor
b) Principle & Agent
c) Trustee & Beneficiary
d) Debtor & Creditor
e) None of the above
------------------------------------------------------------------------------------------
35. What are the interest rates that are still regulated by RBI?
a) SB Deposits
b) Commercial Loans
c) DRI Loans
d) b & c
e) All
------------------------------------------------------------------------------------------
ANSWERS:
1) a; 2) b; 3) b; 4) a; 5) a; 6) b; 7) c; 8) a; 9) c; 10) d;
11) e; 12) b; 13) b; 14) a; 15) a; 16) a; 17) b; 18) c; 19) a; 20) a;
21) c; 22) c; 23) d; 24) e; 25) a; 26) a; 27) a; 28) a; 29) c; 30) e;
31) e; 32) b; 33) d; 34) d; 35) c.
a) Dr. Harsh Kumar Bhanwala
b) Mrs V.R.Iyer
c) HR Kamath
d) B Bhattacharya
e) R Rajendran
------------------------------------------------------------------------------------------
2. For recovery of NPA from the defaulted borrowers, SARFAESI Act 2002, is implemented. What does the letter ‘S’ stands for in SARFAESI
a) Social
b) Security
c) Seasonal
d) Stamp
e) Systematic
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3. Bank holidays under Sec.25 of N.I. Act are declared by
a) RBI
b) State govt. for the respect state
c) Central govt.
d) LHO
e) Prime Minister
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4. One rupee coin issued under _____ Act
a) Coinage Act 1906
b) RBI
c) BR
d) All the above
e) None of these
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5. Clean Note policy has been introduced as per
a) Banking Regulation Act
b) RBI Act
c) SBI Act
d) PNB Act
e) None of these
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6. Under prevention of Money laundering Act 2002, the financial transaction records have to be preserved for _____ years.
a) 5
b) 10
c) 20
d) 40
e) None of these
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7. Under prevention of Money laundering Act 2002, banks have to report suspicious transaction to _____
a) RBI
b) CBI
c) FIU-IND
d) LHO
e) Central Govt.
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8. RBI Has relaxed KYC norms for small account holders who do not intend to make deposits over Rs.50,000/- and total credits in the account in a year is limited to Rs. 1 lakh. Total withdrawls/ Transfer in a month does not exceed Rs. ____
a) 10,000
b) 20,000
c) 50,000
d) 60,000
e) None of these
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9. When form15-H has been received, the bank shall forward the same to I.T. Department on or before ____ day of next month.
a) 3rd
b) 5th
c) 7th
d) 15th
e) 17th
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10. In which of the following transaction PAN should be quoted?
a) A time deposit exceeding Rs.50,000
b) Payment in cash to purchase bank draft or banker’s cheque for an amount aggregating Rs.50,000 or more during any one day
c) Deposit cash aggregating Rs. 50,000 or more during any one day
d) All the above
e) None of these
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11. Currency Notes are printed at:
a) Nasik
b) Dewas
c) Mysore
d) Salboni
e) All of these
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12. If the customer does not cooperate for making their accounts KYC compliant, despite repeated communication/ contacts, their accounts should be _____.
a) Frozen
b) Closed
c) Close the account only after
compliance of KYC
d) a or c
e) a & b
------------------------------------------------------------------------------------------
13. As per KYC Norms / AML measures risk categorization of all customer accounts should be done and review of risk categorization should be cared out at ____ months intervals every year.
a) 3
b) 6
c) 9
d) 12
e) 15
------------------------------------------------------------------------------------------
14. SLR has to be maintained by banks under _______
a) Sec. 24 of BR Act
b) Sec. 24 of RBI Act
c) Sec. 42 of RBI Act
d) Sec. 42 of BR Act
e) None of these
------------------------------------------------------------------------------------------
15. Who is the Chairman of IRDA?
a) T.S.Vijayan
b) Dr. Rangarajan
c) M.V.Nair
d) J.S. Bhatnagar
e) HR Khan
------------------------------------------------------------------------------------------
16. Who is the authority for referring appeals against the award of banking ombudsman?
a) Deputy Governor, RBI
b) RBI Governor
c) CMD of concerned bank
d) Group of CMDs formed by RBI
e) None of the above
------------------------------------------------------------------------------------------
17. The sponsoring bank’s share in RBIs is:
a) 50%
b) 35%
c) 15%
d) 75%
e) None of these
------------------------------------------------------------------------------------------
18. Can a HUF join as a partner in a partnership firm?
a) Can be included
b) Can be included with company
c) Cannot join
d) Can join subject to the approval of CMD
e) None of the above
------------------------------------------------------------------------------------------
19. Bank’s Lien is:
a) General lien
b) Particular lien
c) Contingent lien
d) b & c
e) None of these
------------------------------------------------------------------------------------------
20. Within how many days the CPIO (Central Public Information Officer) has to provide information under RTI Act?
a) 30 days
b) 15 days
c) 45 days
d) 10 days
e) 60 hours
------------------------------------------------------------------------------------------
21. Which of the following is not a negotiable instrument as per N.I. Act?
a) Promissory note
b) Draft
c) TDR (Term Deposit Receipt)
d) Cheque
e) None of the above
------------------------------------------------------------------------------------------
22. Which of the following is not correct in respect of issue of CP:
a) It can now be issued as a standalone facility
b) Minimum issue is Rs. 5 lakh
c) CPs can be underwritten by a bank
d) Minimum Tangible net worth of the Corporate should be Rs. 4 crore
e) All the above
------------------------------------------------------------------------------------------
23. The maximum period for which a CD can be issued is _____
a) 1 month
b) 3 months
c) 180 days
d) 1 year
e) None of these
------------------------------------------------------------------------------------------
24. What is not true about CDs?
a) It is transferable from the data issues
b) It can be issued for a minimum period of 7 days
c) It is not all transferable
d) It can be issued in demat form only
e) None of these
------------------------------------------------------------------------------------------
25. Gilt edged securities refer to ___
a) Govt. securities
b) Shares of first class companies
c) Securities issued by first class companies
d) Duplicate securities
e) Securities issued by RBI Identified Companies
------------------------------------------------------------------------------------------
26. The standard rate at which the RBI is prepared to buy or rediscount export bills or other commercial
paper eligible for purchase from banks under the RBI Act is known as _____
a) Bank rate
b) Repo Rate
c) Card rate
d) PLR
e) Base Rate
------------------------------------------------------------------------------------------
27. The result of increase in SLR by RBI is
a) Decrease in lendable resources of banks
b) Increase in loadable resources of banks
c) There will not be any change in loan able resources of banks
d) Only b and c
e) None of these
------------------------------------------------------------------------------------------
28. Blue chip securities mean ____
a) Shares of progressive, well managed companies with excellent record of payment of dividends.
b) The shares which are in blue ink
c) Securities issued by Chip Manufacturing companies
d) Securities identified by the concerned state governments
e) None of the above
------------------------------------------------------------------------------------------
29. Cash kept in the currency chest is owned by
a) Currency Chest Branch Bank
b) Central Government
c) Reserve Bank of India
d) State Bank of India
e) None of the above
------------------------------------------------------------------------------------------
30. Bank can’t proceed against the borrower under SARFAESI Act where:
a) Security is agricultural land
b) Liability is less than Rs.1 lakh
c) Liability is less than 20% of the principal
d) Pledge of movables
e) All the above
------------------------------------------------------------------------------------------
31. The minimum capital required to start a new private sector bank is________
a) 100 crore
b) 200 crore
c) 300 crore
d) 400 crore
e) 500 crore
------------------------------------------------------------------------------------------
32. RBI injects liquidity through
a) Increase Bank Rate
b) Reduction of Repo Rate
c) Reduction of Reverse Repo
d) Increase CRR
e) Increase SLR
------------------------------------------------------------------------------------------
33. A customer requested to include his wife and daughter as nominees after one year of opening of
the account. Will it be accepted?
a) It can be accepted since the nominees are the family members of the depositor
b) Cannot be considered since the request is not received at the time of opening of account
c) Can be considered with 50% share each
d) Nomination should be made only in favor of single name. Hence can’t be considered
e) None of the above
------------------------------------------------------------------------------------------
34. What is the relationship between the Bank and Overdraft Customer where the account is showing
credit balance?
a) Creditor & Debtor
b) Principle & Agent
c) Trustee & Beneficiary
d) Debtor & Creditor
e) None of the above
------------------------------------------------------------------------------------------
35. What are the interest rates that are still regulated by RBI?
a) SB Deposits
b) Commercial Loans
c) DRI Loans
d) b & c
e) All
------------------------------------------------------------------------------------------
ANSWERS:
1) a; 2) b; 3) b; 4) a; 5) a; 6) b; 7) c; 8) a; 9) c; 10) d;
11) e; 12) b; 13) b; 14) a; 15) a; 16) a; 17) b; 18) c; 19) a; 20) a;
21) c; 22) c; 23) d; 24) e; 25) a; 26) a; 27) a; 28) a; 29) c; 30) e;
31) e; 32) b; 33) d; 34) d; 35) c.
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