Current Affairs Current Affairs - 29 August 2015 - Vikalp Education

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Current Affairs - 29 August 2015

General Affairs

Truckers Threaten to go on Indefinite Nationwide Strike From October 1
  • Truckers Threaten to go on Indefinite Nationwide Strike From October 1NEW DELHI:  Top transporters body AIMTC today threatened to go an indefinite nationwide strike from October 1, alleging that the government has failed to address their issues, including removal of toll.

    All India Motor Transport Congress (AIMTC) claims to represent 93 lakh truckers and 50 lakh buses and tourist operators across the country.

    "We are going on an indefinite nationwide strike from October 1 as the Transport Ministry has failed to resolve our issues such as removal of toll by paying periodically as well as the long standing demand of Tax Deduction at Source (TDS)," All India Motor Transport Congress (AIMTC) President Bhim Wadhwa said.

    If the truckers go on a nationwide 'chakkajam' then the country will incur losses to the tune of Rs. 1,500-1,700 crore per day on account of total halt of essential supplies and other goods, he added.

    "We had met Road Transport and Highways Minister Nitin Gadkari yesterday, but to no avail. We are now left with no other option than to take this extreme step," Mr Wadhwa said.

    He added that if toll plazas are removed, hassle free transportation would result in savings of public money to the tune of Rs. 87,000 crore annually that accounts for 3 per cent of the country's GDP, as per an IIM Kolkata study.

    This amount is due to loss of fuel on account of waiting at toll plazas as well as delays caused, Mr Wadhwa said.

    Antibiotic Use May Increase Diabetes Risk
    • Antibiotic Use May Increase Diabetes RiskLONDON, UNITED KINGDOM:  Frequent use of antibiotics might increase your risk of developing Type-2 diabetes, a new study warns.

      Danish researchers have found that people who developed Type-2 diabetes tended to take more antibiotics in the years leading up to the diagnosis than people who did not have the condition.

      "In our research, we found people who have Type-2 diabetes used significantly more antibiotics up to 15 years prior to diagnosis compared to healthy controls," said one of the study authors Kristian Hallundbaek Mikkelsen from Gentofte Hospital in Hellerup, Denmark.

      "Although we cannot infer causality from this study, the findings raise the possibility that antibiotics could raise the risk of Type-2 diabetes," Mikkelsen noted.

      Another equally compelling explanation may be that people develop Type-2 diabetes over the course of years and face a greater risk of infection during that time, he pointed out.

      For the study, the researchers tracked antibiotic prescriptions for 170,504 people who had Type-2 diabetes and for 1.3 million people who did not have diabetes.

      Individuals who used more antibiotics were more likely to be diagnosed with Type-2 diabetes.

      A person develops diabetes, which is characterised by high blood sugar levels, when the individual cannot produce enough of the hormone insulin or insulin does not work properly to clear sugar from the bloodstream.

      Past research has shown that antibiotic treatments can alter the bacteria in an individual's gut and that certain gut bacteria may contribute to the impaired ability to metabolise sugar seen in people with diabetes.

      This may explain why higher rates of antibiotic use are associated with the development of Type-2 diabetes, but more research is needed to explain the findings, Mikkelsen said.

      The study was published in the Journal of Clinical Endocrinology & Metabolism.

    Hardik Patel is Gujarat Hero, Says Shiv Sena
    • Hardik Patel is Gujarat Hero, Says Shiv SenaMUMBAI:  The mass appeal of Hardik Patel in Gujarat "does not augur well for the BJP," the Shiv Sena said today, calling him "a hero" who had punctured claims that Gujarat was a peaceful state.

      "Until now, (Prime Minister Narendra) Modi was considered the only political 'neta' who could pull crowds," a hard-hitting editorial in the party's mouthpiece "Saamana" said.

      "Now, Hardik Patel has become the 'king of crowds' which does not augur well for the BJP," the Sena said, referring to the Patel community leader who has taken on the Gujarat government over job reservations.

      "Hardik Patel is a hero of Gujarat... His rallies attract four-five lakh people... With his super-mammoth rally in Ahmedabad last Tuesday, he has thrown the gauntlet at the state government," the Sena said.

      Until now, Mr Modi used the name of Sardar Vallabhbhai Patel, now this had been usurped by the young Patel leader, it said sarcastically.

      "The state government committed the misadventure of detaining Hardik Patel after Tuesday's rally and it paid for the blunder... Violence erupted all over the state, even ministers had to bear the brunt of Patidars' ire," the Sena said.

      Now, Hardik Patel has threatened that if the Patidars were also not given job reservations, "then the lotus (BJP party symbol) will not bloom in 2017."

      "The manner in which the Gujarat youths have responded has created waves in Gujarat political circles," the editorial said.

      It thumbed a nose at Gujarat Chief Minister Anandiben Patel, who had invited Maharashtra businesses to her state, saying Gujarat was "peaceful, stable and well-administered."

      "Now, what?" the Sena asked. "A person who has yet to grow a moustache has proved her claims as bogus... and revealed the true face of Gujarat," it said about the young Patel.

      The Shiv Sena, an ally of the Bharatiya Janata Party in the centre and in Maharashtra, urged Gujarat politicians to refrain from stoking political fires in the state "as it would be sheer stupidity."

      But the Sena questioned the legitimacy of the Patidars' demands for inclusion in the Other Backward Class (OBC) category, saying the Patels enjoyed the same social-political status in Gujarat as 'Marathas' in Maharashtra.

      The Patels were in the forefront in various sectors like diamonds, realty and big business and also formed a huge chunk of the Gujarat NRIs, trading and commerce, it said.

      "They are leading in politics with Chief Minister Anandiben Patel hailing from the community; earlier, Chimanbhai Patel, Keshubhai Patel and Babubhai Patel ruled the state..."

      "...Yet the community wants to become 'backward' and takes to the streets."

      The 'Marathas' were also powerful similarly in Maharashtra and making various demands but they never resorted to violence or rioting which can't be condoned at any cost, the Sena said.

    'India is the only External Threat,' Says Pakistan's Military: Report
    • 'India is the only External Threat,' Says Pakistan's Military: ReportISLAMABAD:  The Pakistani military has said that "India is the only external threat for Pakistan." The Pakistani military told this to a senate defence committee.

      General Rashad Mahmood, chairman of the Joint Chiefs of Staff Committee, briefed the committee members on Thursday, Dawn online reported on Friday.

      The committee, led by Mushahid Hussain, was also informed that "India had purchased weapons worth $100 billion over the last couple of years -- 80 percent of which were Pakistan-specific."

      "The Indian Army would be buying weapons worth another $100 billion," the report added.

      "The situation was particularly volatile in view of the suspended dialogue between the two countries and absence of any conflict resolution mechanism," the army official said.

    Sri Lanka Cabinet Formation Further Delayed
    • Sri Lanka Cabinet Formation Further DelayedCOLOMBO:  Sri Lanka's new government has further delayed formation of the Cabinet beyond the already agreed deadline of September 1.

      The election was held nearly two weeks ago in which the United National Party (UNP) failed to win the absolute majority of 113 seats in 225-member assembly.

      The UNP and the opposition Sri Lanka Freedom Party decided to form a national unity government following which there were serious negotiations and disagreements over the sharing of key portfolios.

      Duminda Disssanayake, the SLFP acting general secretary, said the new Cabinet was most likely to be inducted on September 4.

      He said the SLFP's 64th convention would be held on September 2 in Polonnaruwa and said they had invited all party officials including President Maithripala Sirisena who is the party Chairman, to attend the event.

      Mr Sirisena pledged to form a national government with his members providing the majority for the national unity government will be in office for a minimum period of two years.

      However, some members of the SLFP who are followers of the former strongman Mahinda Rajapaksa have announced that they would not join the national government but would work as the main opposition.

      Mr Sirisena has allowed the MPs to act according to their wishes. Sirisena on Monday appointed three members of the Cabinet including the foreign minister Mangala Samaraweera.

      They were appointed to host a visit by a group of top US State Department officials.

    Business Affairs 

    Nifty regains 8,000 mark as mkts stay upbeat
    • Nifty regains 8,000 mark as mkts stay upbeatMarkets on Friday after getting off to a good start in the morning lost steam midway to erase initial gains asnd end just over half a per cent up.  
      The BSE Sensex gained 161.19 points to stand at  26,392  while the Nifty gained 53 points to stand at 8001.95 on close.Midcap and smallcap indices eked out marginal gains to end at 10,759 and 10,992, respectively.
      The BSE oil, IT and metal indices led the rally, with gains of around 1 per cent each, while the banking and pharma indice ended in the red.
      The rupee continued to trade weak against the US dollar, down 7 paise at 66.11, following fresh demand for the US currency from banks and importers on the back of higher dollar overseas.
      After falling for three straight days, gold prices recovered by Rs 50 to Rs 26,700 per ten grams at the bullion market on Friday, supported by fresh purchases by jewellers to meet seasonal demand amid a firming global trend.
      Market movers
      Sun Pharma, Lupin, Coal India, TCS and Cipla were among losers while ONGC, Vedanta, Bharti Airtel, Bajaj Auto and GAIL were top gainers on the BSE.
      Sun Pharma in particular plunged 4 per cent after the company faced class action suit in US over 2009 plant closures. US court of appeals affirmed lower court's findings that Caraco, the subsidiary of Sun Pharma, violated Worker Adjustment Act.
      Kitchen appliance maker TTK Prestige shares jumped as much as 6 per cent to hit intraday high of Rs 3,964.80 after the company announced that it has reached a long-term agreement with its workers union at its Hosur unit in Tamil Nadu.
      Shares of engineering firm Kalpataru Power Transmission jumped as much as 5.8 per cent to hit intraday high of Rs 267 after the company said that it bagged contracts worth Rs 880 crore in both domestic and international markets.
      Shares of Cipla soared nearly 3 per cent in morning trade on bourses after the company said it expects 20 per cent growth in revenues in the current fiscal. Shares of the company, however, closed at Rs 659.75, down 1.40 points or 0.21 per cent on BSE.

      Global markets
      The Asian shares extended their rally for the second consecutive session, on Friday, after firm US economic data cheered the mood of the investors. Chinese stocks rose for the second day, with Shanghai Composite surging nearly 5 per cent. Japan's benchmark Nikkei 225 index climbed 3 per cent after lackluster monthly data on inflation and household spending raised hopes of further stimulus.
      Europe's stock markets opened higher as well on Friday following strong gains across Asia. In initial trade, London's benchmark FTSE 100 index gained 0.24 per cent to 6,207.05 points. In the eurozone, Frankfurt's DAX 30 edged up 0.20 per cent to 9,687.70 and the CAC 40 in Paris crept 0.12 per cent higher to 4,663.98 points.

    RBI more likely to cut rates in September, GDP growth steady: Reuters Poll
    • RBI more likely to cut rates in September, GDP growth steady: Reuters PollThere is a better than even chance that the Reserve Bank of India (RBI) will cut interest rates at its policy meeting on September 29 thanks to inflation striking a record low, according to a Reuters poll, marking a shift in expectations from earlier.
      The median from survey of 21 economists showed a 60 per cent chance that the central bank would cut its policy repo rate from 7.25 per cent at the next meeting, whereas a previous poll in July had shown a move was more likely in the final three months of the year.Since then, India has released consumer price data for July that showed retail inflation at a record low of 3.78 per cent, giving the RBI more room to ease policy.
      Keen to inject more momentum in the economy and encourage investment, the government and business community have urged the central bank to lower interest rates, though RBI Governor Raghuram Rajan has stressed that he wants to see low inflation on a sustained basis.
      "We have fuel disinflation making a comeback all over again. Crude prices are back down," said Vishnu Varathan, senior economist at Mizuho Bank.
      Varathan noted the price of onions, a staple ingredient in Indian cooking, was beginning to rise, putting upward pressure on food inflation.
      But, he said the RBI would find it harder to cut interest rates later in the year, if the US Federal Reserve delays raising interest rates, which it is expected to do.
      The RBI left interest rates unchanged at its last policy review on August 4, having already cut them by 75 basis points this year as a slump in global commodity prices brought inflation under control. By holding rates steady, Rajan went against the majority on an advisory panel, who had recommended a reduction.
      India is due to release economic growth data for the April-June quarter on Monday.
      The median forecast given by 27 economists put year-on-year growth at 7.4 per cent for the quarter, slowing from 7.5 per cent in the January-March period.
      Whereas the headline figure looks healthy, many economists have treated the data series with caution since the statistics department revised its methodology for measuring gross domestic product earlier this year.
      Other indicators and on-the-ground evidence suggest the economy is struggling, and there is growing impatience with Prime Minister Narendra Modi's government to implement more policies that can galvanise growth.
      The government is trying to introduce a nationwide goods and services tax to create a more unified market in a country where levies can differ from state to state.
      Twelve of the 21 economists polled doubted whether the government could roll out the tax before the next fiscal year begins in April.

      Russia inks deal with Anil-Ambani led Reliance Group for 197 defence choppers
      • Anil Ambani, chairman of Reliance GroupA defence arm of the Anil Ambani-led Reliance Group has been picked for another project by the Russian government - this time for a Rs 6,000-crore ($925 million) potential deal to make 197 helicopters for the Indian Army and the Indian Air Force, informed sources said on Friday.
        Touted as among the largest deals under the "Make in India" programme, it calls for making 197 Kamov 226T choppers to retire the Chetak-Cheetah fleet that has been key inventory in frontline operations for over 30 years, notably in difficult terrain like Siachen, the sources added."We are committed to actively participating in Prime Minister Modi's 'Make in India' and 'Skill India' program," the spokesperson for Reliance Defence said when asked for the company's comment on the deal, which involves manufacture of these light utility helicopters in the country.
        "The manufacture of both military and civil helicopters to meet the needs of the country are a significant part of this commitment," the spokesperson added.
        It is reliably learnt that the project is to be executed under a new joint venture, for which the chosen Indian partner is a newly set-up chopper arm of Reliance Defence - which, in turn, is a subsidiary of Reliance Infrastructure. The process is on to acquire an industrial licence.
        Russian President Vladimir Putin had pushed for the Ka-226T during the summit with Prime Minister Narendra Modi here last December. Upon agreeing to be make these choppers in India, Russia was offered an initial deal for 200 of these helicopters with the potential for another 400.
        In May, the Defence Acquisition Council chaired by Defence Minister Manohar Parrikar cleared the proposal.
        Now, after extensive talks, the Russian government has communicated to New Delhi that it will be implementing the project in a joint venture with an Indian company - and that the partner so chosen is Reliance Helicopters. It also involves transfer of technology, sources said.
        Earlier this month, Pipavav Defence, a part of the Reliance Group, was selected by Zvyozdochka Shipyard of Russia for the refit of 24 EKM 877 submarines in India, in a deal potentially worth worth Rs 30,000 crore.
        The company, the controlling stake of which was acquired by the Reliance Group earlier this year, was also selected by United Shipbuilding Company of Russia for the manufacture of four Talwar-class frigates, according to sources.
        The company is also said to be a strong contender to build six advanced submarines for the navy, along with five other firms, for which the Indian government is expected to float a request for proposal soon. This deal is potentially worth Rs 60,000 crore.

      Greek judge appointed caretaker PM ahead of elections
      • Greek judge appointed caretaker PM ahead of electionsGreece's top Supreme Court judge was sworn in as caretaker prime minister on Thursday to lead the country to elections next month, ending a week of political deadlock after leftist leader Alexis Tsipras resigned.
        Vassiliki Thanou, an opponent of austerity who has argued against wage cuts for judges and court officials, and her new interim government will remain in place at least until parliamentary elections are held, expected to be on September 20."I'm especially happy because I'm receiving the first woman prime minister in the history of the Greek democracy, and this is an important step," Tsipras told Thanou at a handover ceremony at the prime ministerial mansion.
        Her appointment ends a week of fruitless negotiations as top opposition party leaders took turns at trying to form a government, exercising a constitutional right that takes effect if a prime minister resigns within a year of being elected.
        The process dragged on for a week as the main conservative opposition and then the far-left Popular Unity party both used their allotted three days in full despite having no chance of success, hoping to delay the election.
        The conservatives said everything had to be done to avoid a new round of elections that Greece did not need. The country has to implement a new round of austerity measures and reforms agreed with its creditors as part of its 86 billion-euro bailout, and also deal with an unprecedented inflow of migrants.
        "The caretaker government's duties are mainly holding the elections in a fair and smooth fashion. Given the circumstances, however, I believe this government will be called upon to tackle critical issues such as, for example, the immigration issue, and, maybe, some others," Thanou told Tsipras at the handover ceremony.
        The names of Thanou's ministers will be officially announced on Friday. Greek media said the role of interim finance minister would go to George Chouliarakis, a senior official in Greece's debt negotiating team.
        Popular Unity leader Panagiotis Lafazanis - whose rebel far-left faction broke away from Tsipras's Syriza party last week, taking a sixth of its lawmakers with him - used his three days to air his anti-bailout message before handing back the mandate on Thursday.
        Tsipras remains hugely popular in Greece despite making a U-turn to accept the bailout programme, and opposition parties feel a longer campaign period offers a better chance of denting his popularity as austerity cuts start kicking in.
        Syriza is expected to once again emerge as the biggest party in parliament when the snap election is held. But Tsipras is not expected to secure an absolute majority, forcing him to find a coalition partner, failing which a second round of elections could be held.
        In an interview with Alpha TV on Wednesday, Tsipras stood by previous comments that his party would not cooperate with New Democracy and the Socialist PASOK, which took turns ruling Greece for decades before Syriza swept to power this year.
        He also ruled out a tie-up with the new, centrist and strongly pro-euro To Potami party, effectively making his current coalition partner - the right-wing Independent Greeks - his only potential ally.
        "Our differences are very significant," Tsipras said. "I believe all these three parties express the old party system. Certainly, I will not be the prime minister."
        The comments prompted criticism from opposition figures on Thursday, who accused Tsipras of blackmailing voters with the dilemma of either choosing him or facing a political deadlock.
        "Yesterday Mr. Tsipras made a huge provocation, saying to citizens whatever you vote I will not cooperate," Stavros Theodorakis, leader of To Potami, told Mega TV.
        "In other words what? Elections again in October, if the Independent Greeks do not make it to parliament?"

        Investing secrets of the super rich
          Anshu Kapoor, Head, Global Wealth Management, Edelweiss Financial Services
          "Can I get exposure to a budding start-up in the e-commerce industry?"

          "Can you provide me an investment vehicle to capitalise on arbitrage opportunities?"

          "How can I invest in a new asset class like currencies?"

          With changing times, these are the sort of questions getting thrown at us from our high net worth individuals (HNIs) and family office clients. The investor behaviour has evolved - clients are now not hesitant to tap into unconventional investment avenues. Let us take a look at some of the solutions across different asset classes that have gained traction over the last couple of years:
          Allocation to alternate equity solutions
          On the equity side, while mutual funds have shown growth in assets under management (AUMs), there are also a lot of other non-traditional investment vehicles that HNIs are investing in. Alternate Equity Funds, under the Category III Alternate Investment Fund (AIF) route, is one such example. Sophisticated investors are showing eagerness to move from long-only investments to special situation long-short and risk arbitrage opportunities. With corporate actions (IPOs, mergers and acquisitions, open offers, etc.) and government divestment picking up, the opportunities to capture such trades are also on the rise. Category III funds, with their multi-strategy investment schemes, provide investors exposure to such opportunities. They combine long-only strategies with opportunistic short and risk arbitrage strategies - such a combination provides more consistent and higher risk adjusted returns. Investments made under AIFs Category III have increased by approximately 220 per cent in a year to over Rs 1,500 crore in March 2015. (See graph on the right.)Another trend we have noticed is the increasing use of derivatives. Some investors are building portfolios using stock and index futures, which provide them capital efficiency. Many investors are using derivatives to hedge their long-only portfolios in times of extreme volatility (like the recent Greece crisis). We have also advised some of our CXO-level clients, who have a significant concentration in their portfolios (in several cases, in multiples of hundred crores) due to ESOPs (Employee Stock Options) accumulated over the years, to hedge their exposure using derivatives.
          Structured products for equity participation with protection
          Structured products provide features that cannot be obtained through traditional investments in stocks and bonds. These products can provide capital protection and varying participation rates based on the investors risk profile. Investors are using these solutions to express a specific view on the market. For example, one of our clients had a pessimistic view on banking and was looking for ways to get exposure to the same. We were able to create a structure to provide him with 150 per cent downside participation (where client benefits from a fall) on Bank Nifty with capital protection. Moreover, a quarterly liquidity option provided additional comfort in case the client's view changed over the tenure of the product. We are witnessing increasing interest in such solutions amongst our sophisticated clients.

          Ratan Tata, Chairman Emeritus of Tata Sons, has been parking his wealth in start-ups. He has already betted on 12: Altaeros Energies, Snapdeal, BlueStone, Urban Ladder, Swasth India, CarDekho, Grameen Capital, Paytm, Xiaomi, Kaaryah, Ola and Ampere Vehicles
          Innovative solutions for fixed-income investments
          Looking at the fixed-income space, investors are now accessing Interest Rate Futures (IRFs) to build long dated fixed income portfolios. An IRF provides the benefits of several maturity options, liquidity and capital efficiency. The daily turnover in IRF has grown substantially over the last financial year to almost Rs 2,000 crore (see New Avenues on next page).
          HNIs who have idle stocks in their portfolio which they do not plan to sell in the near future, are now using Securities Lending and Borrowing Scheme (SLBS), which enables them to earn fee income by lending these stocks to counterparties who use it to take short positions. The average monthly transaction value for the last financial year was approximately Rs 400 crore.
          One of the biggest changes seen in recent months is the popularity of arbitrage mutual funds amongst HNIs. Arbitrage funds, which are low-risk, aim to benefit from the price differential of a stock in the cash and future markets. They are treated as equity funds for taxation purposes and hence are not taxed if held for more than a year. Arbitrage funds have witnessed a remarkable rise of over 90 per cent in AUM (Rs 26,000 crore as of June 30, 2015) in the March-to-June 2015 quarter.
          Currencies as an asset class
          With the increasing volatility in global markets, investments in currency market are also coming into the limelight. Currency derivatives are being used not only for hedge exposure, but also to express views specific to a particular currency.

          Trends in real estate
          Coming to real estate, we are definitely witnessing an aversion to direct investments in residential properties (as a financial investment). Instead, we are seeing the preference towards investing in the asset class through non-convertible debentures issued by reputed developers or AIF funds. Investments by PE funds in real estate projects almost tripled in the first six months in 2015. On the commercial real estate front, investments in yield bearing pre-leased assets with quality tenants are generating substantial interest.
          Private equity
          And last but by no means the least, with the rise and rise of investment activity in the start-up space, HNIs investors are also seeking a piece of the pie - either through direct investments or through private equity/venture capital funds. HNIs have invested more than Rs 1,200 crore into venture capital funds over the last year. Though many HNIs have realised the potential, there is a lot of scope to increase awareness about this as an asset class. The investment parameters are completely different compared to other investment instruments. PE/VC funds come with high return potential but the longer time horizon and illiquidity risk needs be taken into consideration before investing.
          To sum up, it is clear that new and innovative solutions are here to stay given the interest they have been able to generate from HNIs. The wealth management industry now needs to create awareness about these solutions.

        General Awareness


          • 1. What is ‘Special Crossing’?
            a) Not Negotiable words in two parallel lines
            b) Account Payee words in two parallel lines
            c) & Co. words in two parallel lines
            d) Any bank’s name with or without two parallel lines and payable to collecting banker only.
            e) None of these

            2. What is the rate of penalty applicable for payment of term deposit Pre maturely to legal heirs of a decreased customer on the request of the legal heirs?
            a) 1% less than applicable rate for the period of deposit
            b) 1% less than the rate mentioned in the receipt
            c) No penalty is to be applied
            d) As per discretion of Branch Manager
            e) None of these

            3. A person introducing an account to a bank is liable for_________
            a) Establishing proper identity of the account holder only and no financial accountability in case
            of any fraud etc.
            b) Making good the loss that the account holder may cause
            c) Ensuring that the customer maintains the account properly
            d) Tracing the account holder as an when bank desires
            e) None of these

            4. Which of the following does not find mention in the Negotiable Instrument Act?
            a) General Crossing
            b) Special Crossing
            c) Not Negotiable Crossing
            d) Double crossing
            e) Account Payee Crossing

            5. The Financial Results of the banks and other organisations normally are expressed in quarters. What does Q-I mean?
            a) Results of January-March
            b) Performance during April- June
            c) The period when the profits are highest
            d) Period where the turnover is more
            e) The period when the profits are highest

            6. Who is the regulator of payment and settlement system in India?
            a) SEBI
            b) IRDA
            c) RBI
            d) Central Government
            e) None of these

            7. The Gilt-Edged security market is the market for which of the following?
            a) Market for trading in gold
            b) Market for trading in sliver
            c) Market for government securities
            d) Market for industrial securities
            e) All the above

            8. The IT firm which has launched, BaNCS Digital, specifically for American retail banks:
            a) Infosys
            b) Reliance
            c) TCS
            d) Mahendra
            e) None of these

            9. The international bank which has announced to cut up to 50,000 jobs globally
            a) IDBI
            b) HDFC
            c) HSBC
            d) AXIS
            e) ICICI

            10. The stake the RBI has allowed banks to acquire in companies defaulting after restructuring of their loans upto:
            a) 81 percent
            b) 61 percent
            c) 51 percent
            d) 41 percent
            e) None of these

            11. The reserve Bank of India will be assisting banks as a temporary measure, by providing additional liquidity support under LAF. What is the full form of LAF?
            a) Loan Adjustment Fund
            b) Liquidity Adjustment Facility
            c) Long Awaited Funds
            d) Loan against Funds
            e) None of these

            12. Net Working Capital means:
            a) Current Assets only
            b) Current Assets minus Current Liabilities
            c) Capital plus Reserves minus Intangible Assets
            d) Current Assets minus Stocks
            e) None of these

            13. The Indian scheme ranked as the world’s largest public works programe by the world bank
            a) Deen Dayal Upadhyaya Gram Jyoti Yojana
            b) MGNREGA
            c) Janani Suraksha Yojana
            d) National Pension System
            e) Pradhan Mantri Adarsh Gram Yojana

            14. The Indian insurance Company granted permission to start operations in Bangladesh recently:
            a) LIC of India
            b) Oriental Insurance company
            c) United India Insurance company
            d) All of the above
            e) None of these

            15. India’s economic growth forecast for 2015-16 as announced by the RBI on 2nd June
            a) 6.6 percent
            b) 8.6 percent
            c) 4.6 percent
            d) 7.6 percent
            e) None of these

            16. The present Repo rate as announced by the RBI is:
            a) 7.25 percent
            b) 6.25 percent
            c) 2.25 percent
            d) 4.25 percent
            e) None of these

            17. The bank which has launched a voice recognition service to identify and authenticate customers –
            a) IDBI
            b) HDFC
            c) HSBC
            d) AXIS
            e) ICICI

            18. The annual remuneration on nonexecutive director of private banks fixed by the RBI recently –
            a) 10 lakhs
            b) 20 lakhs
            c) 30 lakhs
            d) 40 lakhs
            e) None of these

            19. In Call money markets _______ are allowed to trade:
            a) Only Banks
            b) Only Primary dealers
            c) Mutual funds
            d) All of the above
            e) None

            20. KYC guidelines have been framed on the basis of four core components. Which of the following is not core component:
            a) Customer Acceptance Procedure
            b) Customer Identification Procedure
            c) Monitoring of Transaction
            d) Risk Management
            e) Management of Operational risk

            21. The loan values in Retail banking generally range between:
            a) Rs.20,000-Rs.One crore
            b) Rs. One crore - Rs. Ten crore
            c) Depends on each Bank
            d) Up to Rs.1,00,000 only
            e) All the above

            22. Participatory notes are Contract notes issued by Foreign Institutional Investors (FII) to other entities that want to invest in Indian markets but are not interested in registering themselves with:
            a) IRDA
            b) RBI
            c) SEBI
            d) ECGC
            e) EGCS

            23. In Internet banking, without involving another bank, what can be done?
            a) FD can be issued
            b) Intimation regarding LC
            c) Issue of cheque
            d) Customer funds can be transferred
            e) None of the above

            24. The aim of a Balanced Mutual Fund is:
            a) Growth or Price appreciation
            b) Regular Income (dividends)
            c) Investment Both in a growth and regular fund balancing the risk
            d) Investing both in shares & Bank deposits
            e) None of the above

            25. As per RBI guidelines which of the following is/are correct in respect of classification criteria for opening Bank Branches
            a) Rural: population less than 10,000
            b) Semi-Urban: 10,000 and above and less than 1 lakh
            c) Urban: 1 lakh and above and less than 10 lakh
            d) Metropolitan: 10 lakh and above
            e) All the above

            26. Garnishee order is issued by a __
            a) Police officer
            b) Revenue officer
            c) CID
            d) Bank
            e) Court

            27. What is the Full form of MUDRA?
            a) Micro Units Development and Refinance Agency Ltd
            b) Modern Units Development and Refinance Agency Ltd
            c) Micro Units Development and Reconstruction Agency Ltd
            d) All the above
            e) None

            28. The head of the RBI’s Committee on financial inclusion is:
            a) H.R. Khan
            b) Satish Kalra
            c) Deepak Mohanty
            d) Sharad Sharma
            e) Rakesh Bhatia

            29. The new MD and CEO of Credit information Bureau India Ltd (CIBIL) is :
            a) Rakesh Sharma
            b) Rajiv Rishi
            c) P.G. Jaya Kumar
            d) Satish Pillai
            e) Aditya Puri

            30. The new MD and CEO of the National Housing Bank (NHB)
            a) Shikha Sharma
            b) Sriram Kalyanram
            c) Mustaq Ahmad
            d) K. Venkataraman
            e) P. Srinivas

            1) d; 2) c; 3) a; 4) d; 5) b; 6) c; 7) c; 8) c; 9) c; 10) b;
            11) b; 12) b; 13) b; 14) a; 15) d; 16) a; 17) c; 18) a; 19) a; 20) e;
            21) a; 22) c; 23) d; 24) c; 25) e; 26) e; 27) a; 28) c; 29) d; 30) b.

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