General Affairs
Coal Scam: Top Court Not to Hear Manmohan Singh's Case on September 21
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NEW DELHI: The Supreme Court today ordered deletion of appeals filed by former Prime Minister Manmohan Singh and others from its list of business of September 21, in a case of coal block allocation in which he was summoned as an accused by the trial court.
A bench of Chief Justice H L Dattu and Justice Arun Mishra said, "These items are deleted from the list."
Former cabinet minister and senior lawyer, Kapil Sibal led a team of lawyers which sought the dropping of Mr Singh's name of the matter from the list of cases scheduled to come up before the Court on September 21.
The bench said that these appeals will be taken up for hearing after they are mentioned before the court. With today's order, the stay on proceedings in the trial court by the apex court may also get extended, said sources.
The deletion assumes significance as a special bench had recently refused to grant interim relief to former minister of state for coal, Santosh Bagrodia, in another coal scam case. The court had indicated that it might take up his petition very shortly along with the plea of the former Prime Minister.
When senior lawyer K K Venugopal, appearing for Mr Bagrodia, had sought exemption from personal appearance before the trial court on the ground of parity, the special bench had denied the relief saying that his plea would be shortly taken up in 10 to 12 days along with that of Mr Singh's petition. The bench had also said earlier that it may dismiss both the petitions.
Mr Sibal today told the bench headed by Mr Dattu, that the appeal filed by the former Prime Minister, who was also holding the Coal portfolio then, has raised several important issues.
Earlier on April 1, the apex court had stayed the trial court order summoning former Prime Minister as an accused in a coal block allocation case and the proceedings before it. The relief was also extended to Hindalco Chairman Kumar Mangalam Birla, whose company was granted Talabira-II coal block in Odisha in 2005, former Coal Secretary P C Parakh, two Hindalco officials Shubhendu Amitabh, D Bhattacharya, and the company itself.
NEW DELHI: The Supreme Court today ordered deletion of appeals filed by former Prime Minister Manmohan Singh and others from its list of business of September 21, in a case of coal block allocation in which he was summoned as an accused by the trial court.A bench of Chief Justice H L Dattu and Justice Arun Mishra said, "These items are deleted from the list."
The bench said that these appeals will be taken up for hearing after they are mentioned before the court. With today's order, the stay on proceedings in the trial court by the apex court may also get extended, said sources.
The deletion assumes significance as a special bench had recently refused to grant interim relief to former minister of state for coal, Santosh Bagrodia, in another coal scam case. The court had indicated that it might take up his petition very shortly along with the plea of the former Prime Minister.
When senior lawyer K K Venugopal, appearing for Mr Bagrodia, had sought exemption from personal appearance before the trial court on the ground of parity, the special bench had denied the relief saying that his plea would be shortly taken up in 10 to 12 days along with that of Mr Singh's petition. The bench had also said earlier that it may dismiss both the petitions.
Mr Sibal today told the bench headed by Mr Dattu, that the appeal filed by the former Prime Minister, who was also holding the Coal portfolio then, has raised several important issues.
Earlier on April 1, the apex court had stayed the trial court order summoning former Prime Minister as an accused in a coal block allocation case and the proceedings before it. The relief was also extended to Hindalco Chairman Kumar Mangalam Birla, whose company was granted Talabira-II coal block in Odisha in 2005, former Coal Secretary P C Parakh, two Hindalco officials Shubhendu Amitabh, D Bhattacharya, and the company itself.
Showcasing India's Win in 1965 War, 'Shauryanjali' Exhibition Opens
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NEW DELHI: A six-day exhibition, "Shauryanjali" showcasing major battle scenes and captured tanks of the Pakistani Army during the 1965 war, started at central Delhi's Rajpath today, as a part of golden jubilee celebrations of the war.
The exhibition will give the public a chance to view captured Pakistani Patton and Sherman tanks as well as the milestone reading "Lahore 13 km" that was brought back by the Indian Army, showcasing how deep the troops had entered into Pakistan.
At the opening ceremony, defence minister Manohar Parrikar said, "I feel that the 1965 war was the first major war that India won. Some people raise the question whether India won or was there a stalemate. Even as a nine-year-old kid, I was of the firm opinion that India won hands down."
For finance minister, Arun Jaitley, it was a walk down memory lane. He said, "I remember as a young school boy, when our armed forces were defending our borders, the whole country used to be tuned into the radio, supporting the armed forces emotionally and materially."
The six-day event will also see manoeuvre by fighter jets and stunts by para troopers.
Spread over 700 metres at Rajpath, 28 exhibition halls recreate the role of Army, Navy, Air Force, Central Reserve Police Force, Media, Prasar Bharti, International Red Cross and others.
Mr Jaitley released a commemorative coin while Union Telecom Minister Ravi Shankar Prasad released three commemorative stamps.
Mr Prasad said that the soldiers had brought back the prestige of the country in 1965 after the loss in the 1962 war against China.
India had captured 1,920 kilometres of Pakistani land while Pakistan had taken control over 540 kilometres of Indian territory in the 1965 war. In total, 2,862 soldiers gave up their life protecting the motherland and 211 of them were given gallantry awards.
Among those martyrs was the celebrated Company Quartermaster Havildar Abdul Hamid, a soldier in the 4th Battalion of The Grenadiers of the Indian Army. He was the posthumous recipient of India's highest military decoration, the Param Vir Chakra.
NEW DELHI: A six-day exhibition, "Shauryanjali" showcasing major battle scenes and captured tanks of the Pakistani Army during the 1965 war, started at central Delhi's Rajpath today, as a part of golden jubilee celebrations of the war.The exhibition will give the public a chance to view captured Pakistani Patton and Sherman tanks as well as the milestone reading "Lahore 13 km" that was brought back by the Indian Army, showcasing how deep the troops had entered into Pakistan.
For finance minister, Arun Jaitley, it was a walk down memory lane. He said, "I remember as a young school boy, when our armed forces were defending our borders, the whole country used to be tuned into the radio, supporting the armed forces emotionally and materially."
The six-day event will also see manoeuvre by fighter jets and stunts by para troopers.
Spread over 700 metres at Rajpath, 28 exhibition halls recreate the role of Army, Navy, Air Force, Central Reserve Police Force, Media, Prasar Bharti, International Red Cross and others.
Mr Jaitley released a commemorative coin while Union Telecom Minister Ravi Shankar Prasad released three commemorative stamps.
Mr Prasad said that the soldiers had brought back the prestige of the country in 1965 after the loss in the 1962 war against China.
India had captured 1,920 kilometres of Pakistani land while Pakistan had taken control over 540 kilometres of Indian territory in the 1965 war. In total, 2,862 soldiers gave up their life protecting the motherland and 211 of them were given gallantry awards.
Among those martyrs was the celebrated Company Quartermaster Havildar Abdul Hamid, a soldier in the 4th Battalion of The Grenadiers of the Indian Army. He was the posthumous recipient of India's highest military decoration, the Param Vir Chakra.
Eye on China, PM Modi and Lankan PM Discuss Closer Ties
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NEW DELHI: With an eye on China, Prime Minister Narendra Modi and his Sri Lankan counterpart Ranil Wickremesinghe today held talks in New Delhi, discussing ways to step up maritime security cooperation and the need to resolve the issue of arrests of Indian fishermen by the Sri Lankan Navy.
Unlike the previous Sri Lankan government headed by Mahinda Rajapakse, the new regime is keen to assure India that it does not have a pro-China tilt. PM Modi also stressed on the need for more devolution of powers to Tamils while Sri Lanka's PM discussed a UNHRC resolution which is coming up in Geneva this week, on Lanka's human rights abuses during the civil war.
PM Modi said, "I am confident that with the wisdom and will of the leadership in Sri Lanka and the support of the people, Sri Lanka will achieve genuine reconciliation and development, so that all Sri Lankans, including the Sri Lankan Tamil community, can live a life of equality, justice, peace and dignity in a united Sri Lanka."
Lankan PM Wickremesinghe , who made India his first stop after winning last month's election, said his government was "looking at how power sharing and devolution takes place within Constitution and that much more can be done."
He added that he and Mr Modi had "deeper discussions on security matters - on maritime security in Indian Ocean and terrorism."
PM Modi also raised the frequent arrests of Indian fishermen by the Lanka's navy with both sides agreeing that fishermen associations should continue to hold talks.
NEW DELHI: With an eye on China, Prime Minister Narendra Modi and his Sri Lankan counterpart Ranil Wickremesinghe today held talks in New Delhi, discussing ways to step up maritime security cooperation and the need to resolve the issue of arrests of Indian fishermen by the Sri Lankan Navy.Unlike the previous Sri Lankan government headed by Mahinda Rajapakse, the new regime is keen to assure India that it does not have a pro-China tilt. PM Modi also stressed on the need for more devolution of powers to Tamils while Sri Lanka's PM discussed a UNHRC resolution which is coming up in Geneva this week, on Lanka's human rights abuses during the civil war.
PM Modi said, "I am confident that with the wisdom and will of the leadership in Sri Lanka and the support of the people, Sri Lanka will achieve genuine reconciliation and development, so that all Sri Lankans, including the Sri Lankan Tamil community, can live a life of equality, justice, peace and dignity in a united Sri Lanka."
Lankan PM Wickremesinghe , who made India his first stop after winning last month's election, said his government was "looking at how power sharing and devolution takes place within Constitution and that much more can be done."
He added that he and Mr Modi had "deeper discussions on security matters - on maritime security in Indian Ocean and terrorism."
PM Modi also raised the frequent arrests of Indian fishermen by the Lanka's navy with both sides agreeing that fishermen associations should continue to hold talks.
Meteorological Department Predicts Heavy Rainfall in Odisha
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BHUBANESWAR: In major respite for drought prone Odisha, the IMD has predicted heavy rainfall accompanied by gusty surface wind in several places of the state in the wake of well-marked low pressure over west central Bay of Bengal and adjoining areas.
Yesterday's low pressure area over west central Bay of Bengal and adjoining northwest Bay of Bengal now lies as a well-marked low pressure area over the same area off South Odisha and North Andhra Pradesh Coast, a bulletin issued by the IMD said in Bhubaneswar today.
Under its influence, the bulletin said rain or thundershower may occur at most places over the state. "Heavy to very heavy rainfall would occur at one or two places over interior Odisha and heavy rainfall would occur at one or two places over coastal Odisha," it said.
Gusty surface wind speed reaching from 40 to 45 KMPH gusting to 50 KMPH from easterly direction would prevail along and off Odisha Coast, it said.
Though there was no advice for hoisting storm warning signals in any port, the IMD cautioned fishermen not to venture into the sea during the period.
The rain due to the low pressure is most welcome as cultivation in 103 of the state's 314 blocks is severely hit due to scanty rainfall in July and August, said Agriculture Minister Pradeep Kumar Maharathy.
Chief Minister Naveen Patnaik yesterday sought a report from the agriculture department within seven days on the prevailing dry spell situation in 103 blocks spread over 23 districts.
BHUBANESWAR: In major respite for drought prone Odisha, the IMD has predicted heavy rainfall accompanied by gusty surface wind in several places of the state in the wake of well-marked low pressure over west central Bay of Bengal and adjoining areas.Yesterday's low pressure area over west central Bay of Bengal and adjoining northwest Bay of Bengal now lies as a well-marked low pressure area over the same area off South Odisha and North Andhra Pradesh Coast, a bulletin issued by the IMD said in Bhubaneswar today.
Gusty surface wind speed reaching from 40 to 45 KMPH gusting to 50 KMPH from easterly direction would prevail along and off Odisha Coast, it said.
Though there was no advice for hoisting storm warning signals in any port, the IMD cautioned fishermen not to venture into the sea during the period.
The rain due to the low pressure is most welcome as cultivation in 103 of the state's 314 blocks is severely hit due to scanty rainfall in July and August, said Agriculture Minister Pradeep Kumar Maharathy.
Chief Minister Naveen Patnaik yesterday sought a report from the agriculture department within seven days on the prevailing dry spell situation in 103 blocks spread over 23 districts.
FTII Students Hold Hunger Strike In Delhi, Removed From Protest Site
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NEW DELHI: More than three months after it started, the stalemate at India's premier film school shows little sign of a resolution.
Joined by students from the Delhi University, students of the Film and Television Institute of India or FTII sat on a day-long hunger strike in front of a government office in New Delhi today, demanding the removal of Gajendra Chauhan as the chairman of the college.
Holding placards and shouting slogans, about 20 students squatted on the pavement in front of Shashtri Bhawan, which houses the offices of the Information and Broadcasting Ministry at the heart of capital.
A similar protest was held yesterday in Kolkata with the support of Jadavpur University students.
But within an hour of starting their protest, they were rounded off by the police, witnesses said.
A police officer said the students did not have permission to protest in front of the government offices where Section 144 of the Criminal Procedure Code, which prevents an assembly of 10 or more people in an area, was in place.
The protesters were taken to the Parliament Street police station where they continued their protest.
"We oppose the kind of saffronisation this government is trying to do. Gajendra Chauhan does not have the credentials to head an institute like FTII. He has been appointed there only because of his political affiliation," said Kislay, a third year student of FTII who was part of the protest.
'Saffronisation' is a term used by critics of the BJP, which rules Centre, to denounce moves seen as right wing or pro-Hindu.
A similar protest was held yesterday in Kolkata with the support of Jadavpur University students and another one is scheduled in Mumbai's Azad Maidan tomorrow.
Classes have been suspended at FTII for more than 95 days now since the Central government announced the appointment of small-time actor and BJP member Gajendra Chauhan as the chairman of FTII.
Speaking in Pune on Monday, Mr Chauhan said, "Hunger strike is no solution. I request the students to sit across and have a dialogue with the minister or ministry officials."
NEW DELHI: More than three months after it started, the stalemate at India's premier film school shows little sign of a resolution.Joined by students from the Delhi University, students of the Film and Television Institute of India or FTII sat on a day-long hunger strike in front of a government office in New Delhi today, demanding the removal of Gajendra Chauhan as the chairman of the college.
A similar protest was held yesterday in Kolkata with the support of Jadavpur University students.
A police officer said the students did not have permission to protest in front of the government offices where Section 144 of the Criminal Procedure Code, which prevents an assembly of 10 or more people in an area, was in place.
The protesters were taken to the Parliament Street police station where they continued their protest.
"We oppose the kind of saffronisation this government is trying to do. Gajendra Chauhan does not have the credentials to head an institute like FTII. He has been appointed there only because of his political affiliation," said Kislay, a third year student of FTII who was part of the protest.
'Saffronisation' is a term used by critics of the BJP, which rules Centre, to denounce moves seen as right wing or pro-Hindu.
A similar protest was held yesterday in Kolkata with the support of Jadavpur University students and another one is scheduled in Mumbai's Azad Maidan tomorrow.
Classes have been suspended at FTII for more than 95 days now since the Central government announced the appointment of small-time actor and BJP member Gajendra Chauhan as the chairman of FTII.
Speaking in Pune on Monday, Mr Chauhan said, "Hunger strike is no solution. I request the students to sit across and have a dialogue with the minister or ministry officials."
Business Affairs
Sensex closes 150 points down as investors remain wary of US rate hike
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Despite strong macro-economic data, investors remained cautious ahead of the upcoming decision of US Fed on rate hike, leading to a barometer index of the Indian equities slipping 150 points down at close on Tuesday.
Investors were amply cautious ahead of the upcoming decision by the US Fed on raising or otherwise of US interest rates.Even the better-than-expected inflation and modest factory output data, which had cheered investors with hopes of a rate cut by the Reserve Bank of India, did not support buying in the markets.
The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) had gained 246.49 points or 0.96 percent on Monday after inflation data points such as wholesale price index (WPI) and consumer price index (CPI) were released.
On Tuesday, the S&P BSE Sensex, which opened at 25,908.34 points, closed at 25,705.93 points - down 150.77 points or 0.58 per cent from Monday's close at 25,856.70 points.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) fell by 43.15 points or 0.55 per cent at 7,829.10 points at close.
"Despite the healthy inflation and factory output data and hopes of a rate cut by the apex bank, investors seemed reluctance to chase prices," Anand James, co-head, technical research desk with Geojit BNP Paribas Financial Services, told IANS.
India's annual inflation rate based on wholesale prices continued in the negative territory in August, falling to (-)4.95 per cent from (-)4.05 per cent in July.
Another key macro indicator showed that India's factory output had grown by 4.2 per cent in July against a marginal rise of 0.9 per cent in the like month of last year.
Consumer price inflation for August eased slightly to 3.66 per cent from 3.69 per cent in July and a staggering 7.03 per cent during the like month of last year.
India Inc. expects that a better-than-expected WPI and CPI will drastically improve chances of a rate cut during RBI's monetary policy review slated for September 29.
"The investors' reluctance to chase higher prices is emanating out of the caution prevailing due to the upcoming US Fed's Federal Open Market Committee (FOMC) meet on September 16-17," James said.
The US Fed will decide during the FOMC meet, whether or not to raise interest rates.
Despite strong macro-economic data, investors remained cautious ahead of the upcoming decision of US Fed on rate hike, leading to a barometer index of the Indian equities slipping 150 points down at close on Tuesday.
Investors were amply cautious ahead of the upcoming decision by the US Fed on raising or otherwise of US interest rates.Even the better-than-expected inflation and modest factory output data, which had cheered investors with hopes of a rate cut by the Reserve Bank of India, did not support buying in the markets.
The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) had gained 246.49 points or 0.96 percent on Monday after inflation data points such as wholesale price index (WPI) and consumer price index (CPI) were released.
On Tuesday, the S&P BSE Sensex, which opened at 25,908.34 points, closed at 25,705.93 points - down 150.77 points or 0.58 per cent from Monday's close at 25,856.70 points.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) fell by 43.15 points or 0.55 per cent at 7,829.10 points at close.
"Despite the healthy inflation and factory output data and hopes of a rate cut by the apex bank, investors seemed reluctance to chase prices," Anand James, co-head, technical research desk with Geojit BNP Paribas Financial Services, told IANS.
India's annual inflation rate based on wholesale prices continued in the negative territory in August, falling to (-)4.95 per cent from (-)4.05 per cent in July.
Another key macro indicator showed that India's factory output had grown by 4.2 per cent in July against a marginal rise of 0.9 per cent in the like month of last year.
Consumer price inflation for August eased slightly to 3.66 per cent from 3.69 per cent in July and a staggering 7.03 per cent during the like month of last year.
India Inc. expects that a better-than-expected WPI and CPI will drastically improve chances of a rate cut during RBI's monetary policy review slated for September 29.
"The investors' reluctance to chase higher prices is emanating out of the caution prevailing due to the upcoming US Fed's Federal Open Market Committee (FOMC) meet on September 16-17," James said.
The US Fed will decide during the FOMC meet, whether or not to raise interest rates.
RBI likely to limit size of lender consortiums
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The Reserve Bank of India (RBI) is considering a proposal that would limit the number of participants in a single lenders' consortium, in a bid to encourage banks to carry out better independent credit checks and do more to chase rogue borrowers.
RBI Deputy Governor R Gandhi told a conference on Tuesday that banks with small exposures assume less responsibility when loans sour - a major problem for India, as it seeks to tackle $50 billion of bad debt that's slowing credit growth and hampering a broader economic recovery.Banks, he said, need to act urgently to reduce stressed assets on their balance sheets.
"It is said that banks with very meagre share neither have the incentive nor the information to independently assess a proposal. They typically go by one who has the bigger share," Gandhi told bankers and debt recovery firms.
"The suggestion is to have a regulatory limit on the number of members in a consortium, so that every member will have a serious independent credit appraisal and credit mindset."
He added the proposal could also have drawbacks, as it effectively restricts a bank's freedom.
The central bank now needs to "thrash out" the proposal, which has come from various quarters, with stakeholders, Gandhi said on the sidelines of the Mumbai conference.
MG Vaidyan, a deputy managing director at the country's largest lender, State Bank of India, called the proposal "a very good thing".
"If there are 15 people, 20 people in the consortium, there is obviously a problem," he said.
Gandhi's comments come as both the central bank and the government push India's banks to cut down bad debts and kickstart fresh lending.
In July, the government said it plans to inject $11 billion of capital into lenders over the next four years to help them clean up their balance sheets.
The RBI has taken steps over the past 18 months to help banks tackle bad and troubled loans, including provisions to swap debt for equity, which are designed to do more to hold defaulting owners and majority shareholders to account.
The Reserve Bank of India (RBI) is considering a proposal that would limit the number of participants in a single lenders' consortium, in a bid to encourage banks to carry out better independent credit checks and do more to chase rogue borrowers.
RBI Deputy Governor R Gandhi told a conference on Tuesday that banks with small exposures assume less responsibility when loans sour - a major problem for India, as it seeks to tackle $50 billion of bad debt that's slowing credit growth and hampering a broader economic recovery.Banks, he said, need to act urgently to reduce stressed assets on their balance sheets.
"It is said that banks with very meagre share neither have the incentive nor the information to independently assess a proposal. They typically go by one who has the bigger share," Gandhi told bankers and debt recovery firms.
"The suggestion is to have a regulatory limit on the number of members in a consortium, so that every member will have a serious independent credit appraisal and credit mindset."
He added the proposal could also have drawbacks, as it effectively restricts a bank's freedom.
The central bank now needs to "thrash out" the proposal, which has come from various quarters, with stakeholders, Gandhi said on the sidelines of the Mumbai conference.
MG Vaidyan, a deputy managing director at the country's largest lender, State Bank of India, called the proposal "a very good thing".
"If there are 15 people, 20 people in the consortium, there is obviously a problem," he said.
Gandhi's comments come as both the central bank and the government push India's banks to cut down bad debts and kickstart fresh lending.
In July, the government said it plans to inject $11 billion of capital into lenders over the next four years to help them clean up their balance sheets.
The RBI has taken steps over the past 18 months to help banks tackle bad and troubled loans, including provisions to swap debt for equity, which are designed to do more to hold defaulting owners and majority shareholders to account.
Brent crude oil extends losses as Asian economic weakness persists
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Brent crude oil prices dipped on Tuesday as Asia's economic weakness persisted, extending losses after a sharp fall in the previous session, while US futures were firmer following a report that indicated a drawdown in weekly inventory levels.
Market intelligence firm Genscape estimated a drop of about 1.8 million barrels last week at the Cushing, Oklahoma delivery point for US crude. A weekly report from the American Petroleum Institute is scheduled for release later in the day while that from the US Energy Information Administration for Wednesday.The internationally traded Brent contract was, however, pulled down by more gloomy news of stalling Asian growth.
Japanese manufacturers' confidence slumped the most in a year in September to an eight-month low and is forecast to worsen further as fears of a China-led global economic slowdown grow, a Reuters poll showed.
Front-month US crude futures were trading at $44.23 a barrel at 09:35 am, up 23 cents from the previous session, while Brent was down 5 cents at $46.32 a barrel.
In China, fiscal spending reportedly jumped 25.9 per cent in August from a year ago as Beijing tries to re-energise flagging economic growth, but stock markets were unimpressed, with China's major indexes down over 2 per cent early on Tuesday.
"In the first half of 2015, official GDP growth in China came in at 7 per cent year-on-year. Official economic growth is in stark contrast to commodity demand growth which has been low through 2015," energy consultancy Wood Mackenzie said.
The consultancy added that its China Activity Index "indicates economic growth slowed to 5.3 per cent in Q2 and signals growth of just 4.5 per cent in Q3".
On the supply side, Venezuela's President Nicolas Maduro repeated his call for the Organization of the Petroleum Exporting Countries (OPEC) to convene a heads of state meeting, saying he would present the country's proposals to shore up oil prices to the group.
Yet,Middle East producers from OPEC - who effectively control the export club - have so far pledged to keep output high in a bid to defend market share against rising competition, despite calls by other OPEC members, such as Venezuela, for the Middle East to cut excessive output.
There has even been growing competition amongst the lowest cost producers in the Middle East, such as Kuwait and Saudi Arabia, to undercut each other with discounts for supplies to their core markets in Asia.
Brent crude oil prices dipped on Tuesday as Asia's economic weakness persisted, extending losses after a sharp fall in the previous session, while US futures were firmer following a report that indicated a drawdown in weekly inventory levels.
Market intelligence firm Genscape estimated a drop of about 1.8 million barrels last week at the Cushing, Oklahoma delivery point for US crude. A weekly report from the American Petroleum Institute is scheduled for release later in the day while that from the US Energy Information Administration for Wednesday.The internationally traded Brent contract was, however, pulled down by more gloomy news of stalling Asian growth.
Japanese manufacturers' confidence slumped the most in a year in September to an eight-month low and is forecast to worsen further as fears of a China-led global economic slowdown grow, a Reuters poll showed.
Front-month US crude futures were trading at $44.23 a barrel at 09:35 am, up 23 cents from the previous session, while Brent was down 5 cents at $46.32 a barrel.
In China, fiscal spending reportedly jumped 25.9 per cent in August from a year ago as Beijing tries to re-energise flagging economic growth, but stock markets were unimpressed, with China's major indexes down over 2 per cent early on Tuesday.
"In the first half of 2015, official GDP growth in China came in at 7 per cent year-on-year. Official economic growth is in stark contrast to commodity demand growth which has been low through 2015," energy consultancy Wood Mackenzie said.
The consultancy added that its China Activity Index "indicates economic growth slowed to 5.3 per cent in Q2 and signals growth of just 4.5 per cent in Q3".
On the supply side, Venezuela's President Nicolas Maduro repeated his call for the Organization of the Petroleum Exporting Countries (OPEC) to convene a heads of state meeting, saying he would present the country's proposals to shore up oil prices to the group.
Yet,Middle East producers from OPEC - who effectively control the export club - have so far pledged to keep output high in a bid to defend market share against rising competition, despite calls by other OPEC members, such as Venezuela, for the Middle East to cut excessive output.
There has even been growing competition amongst the lowest cost producers in the Middle East, such as Kuwait and Saudi Arabia, to undercut each other with discounts for supplies to their core markets in Asia.
Sebi seeks details on corporate debt investments from fund managers
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Securities and Exchange Board of India (Sebi) has asked fund managers to provide extensive details on corporate debt investments, amid growing concern over their ability to sell bonds into an immature stock market, two people familiar with the matter said.
Most fund houses investing in the country hold corporate debt until maturity, but, with the secondary debt market still shallow, complications can arise if they face an unexpected hitch and sudden redemption requests. Sebi wrote to fund managers after JP Morgan's Indian asset management unit in late August restricted redemptions from two of its debt funds. Both funds suffered significant mark-to-market losses when auto parts maker Amtek Auto Ltd's debt was downgraded by rating agencies.
"SEBI is worried about a similar situation affecting a large number of funds and wants to take some pre-emptive action," said one of the people knowledgeable about the regulator's action.
The regulator has asked funds for details that include the rationale for the purchase, and assessments of a credit downgrade risk, the person said.
Sebi was not immediately available to comment.
The same person, citing discussions with the regulator, said SEBI could also revise guidelines on mark-to-market valuations for funds.
Both of the people familiar with SEBI's moves declined to be identified as the communication from the regulator is private.
SEBI had already asked fund houses to provide details of their exposure to bonds issued by heavily indebted companies, including Amtek as well as steel company Jindal Power and Steel, whose debt was recently downgraded.
Given the lack of secondary trading in India, fund management firms value their portfolios based on data provided by domestic ratings agencies ICRA and CRISIL. This means a downgrade from either can immediately dent the value of debt holdings.
Securities and Exchange Board of India (Sebi) has asked fund managers to provide extensive details on corporate debt investments, amid growing concern over their ability to sell bonds into an immature stock market, two people familiar with the matter said.
Most fund houses investing in the country hold corporate debt until maturity, but, with the secondary debt market still shallow, complications can arise if they face an unexpected hitch and sudden redemption requests. Sebi wrote to fund managers after JP Morgan's Indian asset management unit in late August restricted redemptions from two of its debt funds. Both funds suffered significant mark-to-market losses when auto parts maker Amtek Auto Ltd's debt was downgraded by rating agencies.
"SEBI is worried about a similar situation affecting a large number of funds and wants to take some pre-emptive action," said one of the people knowledgeable about the regulator's action.
The regulator has asked funds for details that include the rationale for the purchase, and assessments of a credit downgrade risk, the person said.
Sebi was not immediately available to comment.
The same person, citing discussions with the regulator, said SEBI could also revise guidelines on mark-to-market valuations for funds.
Both of the people familiar with SEBI's moves declined to be identified as the communication from the regulator is private.
SEBI had already asked fund houses to provide details of their exposure to bonds issued by heavily indebted companies, including Amtek as well as steel company Jindal Power and Steel, whose debt was recently downgraded.
Given the lack of secondary trading in India, fund management firms value their portfolios based on data provided by domestic ratings agencies ICRA and CRISIL. This means a downgrade from either can immediately dent the value of debt holdings.
Government allows foreign investments through partly paid shares
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Government has permitted foreign investments through partly paid shares and warrants in a move to facilitate FDI in the country.
"The government has reviewed the provisions of the extant FDI policy...and it has been decided to allow partly paid shares and warrants as eligible capital instruments for the purposes of FDI policy," the Department of Industrial Policy and Promotion (DIPP) said in a notification. An official said that the nature of these instruments are also of equity and the move would help in attracting FDI. In a separate note, the DIPP has clarified that the facility sharing agreements within two group companies will not be treated as real estate business provided the arrangements are at arm's length price.
Facility sharing agreements between group companies through leasing/sub-leasing arrangements for the larger interest of business will not be treated as 'real estate business' within the provisions of the Consolidated FDI policy circular of 2015, it said.
These would be subject to the condition that such arrangements are at arm's length price in accordance with relevant provisions of Income Tax Act 1961 and annual lease rent earned by the lessor company does not exceed 5 per cent of its total revenue, it added.
The government is taking several steps to boost FDI. It has relaxed FDI norms for sectors such as medical devices, defence and construction activities.
During April-June quarter of this fiscal, foreign direct investment into the country grew by 31 per cent to $9.50 billion.
Government has permitted foreign investments through partly paid shares and warrants in a move to facilitate FDI in the country.
"The government has reviewed the provisions of the extant FDI policy...and it has been decided to allow partly paid shares and warrants as eligible capital instruments for the purposes of FDI policy," the Department of Industrial Policy and Promotion (DIPP) said in a notification. An official said that the nature of these instruments are also of equity and the move would help in attracting FDI. In a separate note, the DIPP has clarified that the facility sharing agreements within two group companies will not be treated as real estate business provided the arrangements are at arm's length price.
Facility sharing agreements between group companies through leasing/sub-leasing arrangements for the larger interest of business will not be treated as 'real estate business' within the provisions of the Consolidated FDI policy circular of 2015, it said.
These would be subject to the condition that such arrangements are at arm's length price in accordance with relevant provisions of Income Tax Act 1961 and annual lease rent earned by the lessor company does not exceed 5 per cent of its total revenue, it added.
The government is taking several steps to boost FDI. It has relaxed FDI norms for sectors such as medical devices, defence and construction activities.
During April-June quarter of this fiscal, foreign direct investment into the country grew by 31 per cent to $9.50 billion.
General Awareness
GENERAL AWARENESS PRACTICE QUESTIONS FOR BANK EXAMS
-
-
1. Real Time Gross Settlement (RTGS) details given. The wrong option is ........
1) RTGS allows real time transfer of large funds, will not be operated on second and fourth Saturdays as banks observing public holiday on that days.
2) It will operate for full days on other working Saturdays of a month.
3) IFSC code not necessary for RTGS transactions.
4) Processing of future value dated transactions with value date falling on second and fourth Saturdays will not be undertaken under RTGS.
5) None of these
2. RBI changed RTGS time window. The wrong option is .........
1) RTGS business opening would be at 08:00 hours while initial cut off (customer transactions) would be 16:30 hours.
2) The final cut-off (inter-bank transactions) will be at 19:45 hours and IDL reversal between 19:45 - 20:00 hours.
3) An account holder can do only one RTGS transaction per day in a week as per RBI rules.
4) Minimum amount to be remitted through RTGS is Rs.2 lakhs.
5) There is no upper ceiling for RTGS transactions.
3. RBI named which two banks as Domestic Systemically Important Banks (D-SIBs) on 31 August 2015 due to their size and significant presence across the financial sector?
1) HDFC and SBI
2) Axis Bank and Bank of Baroda
3) SBI and ICICI
4) Union Bank of India and YES Bank
5) Punjab National Bank and Kotak Mahindra Bank
4. D-SIBs will be plotted into four different buckets and will be required to have additional Common Equity Tier 1 (CET1) capital requirement ranging from ......... of risk weighted assets depending upon the bucket they are plotted into.
1) 0.2 percent to 10.0 percent
2) 0.4 percent to 0.8 percent
3) 0.6 percent to 0.8 percent
4) 0.2 percent to 0.8 percent
5) None of above
5. Additional Common Equity Tier 1 (CET1) requirements applicable to D-SIBs will be applicable from April 1, 2016 in a phased manner and would become fully effective from .........
1) 1 April 2019
2) 1 April 2018
3) 1 April 2020
4) 1 April 2016
5) 1 April 2017
6. As RBI said, additional CET1 requirement as a percentage of Risk Weighted Assets (RWAs) for SBI is 0.6 percent and that of ICICI Bank is ........
1) 0.2 percent
2) 0.6 percent
3) 1.2 percent
4) 0.8 percent
5) 2.2 percent
7. As per RBI order on 16 July 2015, the banks will now report past dues and levy any late payment charges on credit card holders only if the payment has been due for more than.........
1) three days
2) seven days
3) thirty days
4) ninety days
5) forty five days
8. Minimum amount due is not paid fully within ...... from the payment due date then the credit card account is treated as Non- Performing Assets (NPAs) as per the present rules.
1) 365 days
2) 180 days
3) 90 days
4) 45 days
5) 7 days
9. On the eve of teachers day, the Prime Minister Narendra Modi released a commemorative coin of Rs.125/- denomination and a circulation coin of Rs.10/- denomination in honour of former President .......
1) Babu Rajendra Prasad
2) Zakir Husain
3) V.V. Giri
4) A.P.J. Abdul Kalam
5) Sarvepalli Radhakrishnan
10. RBI has constituted a committee to work out a medium term (five year) measurable action plan for financial inclusion headed by........
1) H.R. Khan
2) Urijith Patel
3) Deepak Mohanty
4) R. Gandhi
5) S.S. Mundra
11. World Bank's latest estimates on India's per capita income and GDP given. Locate the wrong option.
1) India's per capita income rose 9.7 percent to $1,631 in 2014 from $1,487 in the previous year.
2) India was 169th in terms of per capita income in the world.
3) India's GDP crossed $3 trillion in 2014, compared to $1.86 trillion in 2013.
4) In terms of official dollar-rupee rate, the Indian economy was ninth in terms of GDP size.
5) India remained a low-middle income economy, as per the World Bank's latest estimates on per capita income and GDP.
12. Project 'Tatkal' launched by which bank to provide doorstep services and expedite home loan application process?
1) SBI
2) HDFC
3) Bank of Baroda
4) ICICI
5) Axis
13. Options relating to 'The State of Social Safety Nets 2015' released by World Bank given. Pick the wrong option.
1) India is among the five middle-income countries running the world's largest social safety net programmes.
2) MNREGA has been ranked as the world's largest public works programme having 182 million beneficiaries or 15 percent of India's population.
3) Janani Suraksha Yojna with 78 million beneficiaries as the top-most social security programme with conditional cash transfers.
4) Indira Gandhi National Old Age Pension Scheme is the second-largest unconditional cash transfer social security programme in the world.
5) None of the above
14. NABARD said on its 34th foundation day that it has set a target of providing Rs.30,000 crore as credit to farmers for irrigation over the next three years. NABARD foundation day is ........
1) 1 April
2) 2 April
3) 9 July
4) 12 July
5) 1 Jan
15. Reserve Bank of India proposed to make Net Stable Funding Ratio (NSFR) applicable to banks in India from .......
1) January 1, 2016
2) January 1, 2017
3) January 1, 2018
4) January 1, 2019
5) January 1, 2020
16. New Home secretary of India is..
1) Jaishankar
2) G. MohanRao
3) P.K. Sinha
4) Rajiv Mehrishi
5) Nripendra Mishra
17. Mrs.Vassiliki Thanou, has been appointed as the caretaker Prime Minister .........
1) Brazil
2) Argentina
3) Greece
4) Bangladesh
5) South Korea
18. Ratan P Watal is the .........
1) New Chairman of the Indian Trade Promotion Organization (ITPO).
2) New Chairman of the Public Enterprises Selection Board (PESB).
3) New finance secretary
4) New Vice-Chief of the Indian Army
5) New TRAI Chairman
19. Sundar Pichai is the New CEO of ........
1) Twitter
2) Facebook
3) Yahoo
4) Google
5) Microsoft
20. 30 Women in Power: Their Voices, Their Stories written by .........
1) Twinkle Khanna
2) Tarun Khanna
3) Naina Lal Kidwai
4) K.D. Burman
5) Sebastian Ortiz
21. 'To The Brink And Back: India's 1991 Story' written by .......
1) Verappa Moily
2) Sonia Gandhi
3) P.V. Narasimha Rao
4) Sushma Swaraj
5) Jairam Ramesh
22. Which Indian-origin Sikh migrant driver in Australia has been named 'Australian of the Day' for feeding the homeless?
1) Neel Tushar Kashkar
2) Nikky - Guninder Kaur Singh
3) Tejinder Pal Singh
4) Preet Barra
5) None of above
23. National Humanities Medal 2014 conferred on ........
1) Zhanna Nemtsova
2) Raghavendra Gadagkar
3) Zia Haider Rahman
4) Jhumpa Lahiri
5) None
24. Forbes released the first-ever list of 100 Richest People in Technology. The list topped by ........
1) Bill Gates
2) Larry Ellison
3) Jeff Bezos
4) Mark Zuckerberg
5) Larry Page
25. In the 100 Richest People in Technology list released by Forbes, Azim Premji of Wipro spots 13th position and Shiv Nadar of HCL stands ..........
1) 20th position
2) 11th position
3) 12th position
4) 14th position
5) 8th position
26. Pro Kabaddi League 2015 title won by U Mumba after defeating ........
1) Bengaluru Bulls
2) Telugu Titans
3) Patna Pirates
4) Bengal Warriors
5) Jaipur Pink Panthers
27. 10th World Hindi Conference host .........
1) Bhopal
2) Johannesburg
3) Port of Spain
4) Port Louis
5) Nagpur
28. South Asian Association on Regional Cooperation (SAARC) conference on Disaster Mitigation held at .........
1) Dhaka
2) Islamabad
3) Colombo
4) New Delhi
5) Khatmandu
29. New Delhi Municipal Council (NDMC) has decided to rename Aurangzeb Road as ......
1) International Yoga Road
2) Swatch Bharat Road
3) Vijaya Diwas Road
4) APJ Abdul Kalam Road
5) Yogpath Road
30. Central government has identified how many cities and towns across nine states for implementation of its ambitious 'Housing for All' scheme named as Pradhan Mantri Awas Yojana?
1) 175
2) 100
3) 305
4) 295
5) 105
31. Housing and Urban Poverty Alleviation (HUPA) ministry provide assistance of over Rs.2 lakh crore to construct two crore houses for urban poor by ........ under the scheme 'Housing For All'.
1) 2020
2) 2030
3) 2022
4) 2025
5) 2035
32. PM Modi issued a commemorative coin of hundred rupees and circulation coin of ........ on Rani Gaidinliu, the legendary woman freedom fighter from the North-east on the eve of Birth Centenary Celebrations.
1) five rupees
2) ten rupees
3) fifty rupees
4) two rupees
5) one rupee
33. 15% stake in Russia's second-largest oil field Vankor from Rosneft for about $ 1.35 billion was bought by .........
1) ONGC
2) IOC
3) GAIL
4) HP
5) BP
34. Union government allowed road developers to completely exit BOT projects two years after completion and invest the funds in incomplete highway projects or power plants etc. BOT stands for .........
1) Build-Operate-Transfer
2) Build-Operate-Travel
3) Build-Own-Transfer
4) Brick-Operate-Transfer
5) None
35. India's biggest MAST was inaugurated at the Udaipur Solar Observatory on 4 August 2015. MAST stands for ......
1) Mini-Application Solar Telescope
2) Multi-Arid Solar Telescope
3) More-Application Solar Telescope
4) Multi-Application Solar Telescope
5) None of above
36. 3rd India Africa Forum Summit host ......
1) Johannesburg
2) Nairobi
3) New Delhi
4) Mogadishu
5) Harare
37. TATA Trusts paired up with whom to launch an initiative named
'Internet Saathi' to provide rural women in India with internet literacy?
1) Face Book
2) Twitter
3) WhatsApp
4) Microsoft
5) Google
38. Winter Olympics 2018 will be held at .........
1) Gold Coast
2) Moscow
3) Pyeong Chang
4) Rio De Janeiro
5) Jakarta
ANSWERS:
1-3, 2-3, 3-3, 4-4, 5-1, 6-1, 7-1, 8-3, 9-5, 10-3
11-3, 12-1, 13-5, 14-4, 15-3, 16-4, 17-3, 18-3, 19-4, 20-3
21-5, 22-3, 23-4, 24-1, 25-4, 26-1, 27-1, 28-4, 29-4, 30-3
31-3, 32-1, 33-1, 34-1, 35-4, 36-3, 37-5, 38-3
- 1. Real Time Gross Settlement (RTGS) details given. The wrong option is ........
1) RTGS allows real time transfer of large funds, will not be operated on second and fourth Saturdays as banks observing public holiday on that days.
2) It will operate for full days on other working Saturdays of a month.
3) IFSC code not necessary for RTGS transactions.
4) Processing of future value dated transactions with value date falling on second and fourth Saturdays will not be undertaken under RTGS.
5) None of these
2. RBI changed RTGS time window. The wrong option is .........
1) RTGS business opening would be at 08:00 hours while initial cut off (customer transactions) would be 16:30 hours.
2) The final cut-off (inter-bank transactions) will be at 19:45 hours and IDL reversal between 19:45 - 20:00 hours.
3) An account holder can do only one RTGS transaction per day in a week as per RBI rules.
4) Minimum amount to be remitted through RTGS is Rs.2 lakhs.
5) There is no upper ceiling for RTGS transactions.
3. RBI named which two banks as Domestic Systemically Important Banks (D-SIBs) on 31 August 2015 due to their size and significant presence across the financial sector?
1) HDFC and SBI
2) Axis Bank and Bank of Baroda
3) SBI and ICICI
4) Union Bank of India and YES Bank
5) Punjab National Bank and Kotak Mahindra Bank
4. D-SIBs will be plotted into four different buckets and will be required to have additional Common Equity Tier 1 (CET1) capital requirement ranging from ......... of risk weighted assets depending upon the bucket they are plotted into.
1) 0.2 percent to 10.0 percent
2) 0.4 percent to 0.8 percent
3) 0.6 percent to 0.8 percent
4) 0.2 percent to 0.8 percent
5) None of above
5. Additional Common Equity Tier 1 (CET1) requirements applicable to D-SIBs will be applicable from April 1, 2016 in a phased manner and would become fully effective from .........
1) 1 April 2019
2) 1 April 2018
3) 1 April 2020
4) 1 April 2016
5) 1 April 2017
6. As RBI said, additional CET1 requirement as a percentage of Risk Weighted Assets (RWAs) for SBI is 0.6 percent and that of ICICI Bank is ........
1) 0.2 percent
2) 0.6 percent
3) 1.2 percent
4) 0.8 percent
5) 2.2 percent
7. As per RBI order on 16 July 2015, the banks will now report past dues and levy any late payment charges on credit card holders only if the payment has been due for more than.........
1) three days
2) seven days
3) thirty days
4) ninety days
5) forty five days
8. Minimum amount due is not paid fully within ...... from the payment due date then the credit card account is treated as Non- Performing Assets (NPAs) as per the present rules.
1) 365 days
2) 180 days
3) 90 days
4) 45 days
5) 7 days
9. On the eve of teachers day, the Prime Minister Narendra Modi released a commemorative coin of Rs.125/- denomination and a circulation coin of Rs.10/- denomination in honour of former President .......
1) Babu Rajendra Prasad
2) Zakir Husain
3) V.V. Giri
4) A.P.J. Abdul Kalam
5) Sarvepalli Radhakrishnan
10. RBI has constituted a committee to work out a medium term (five year) measurable action plan for financial inclusion headed by........
1) H.R. Khan
2) Urijith Patel
3) Deepak Mohanty
4) R. Gandhi
5) S.S. Mundra
11. World Bank's latest estimates on India's per capita income and GDP given. Locate the wrong option.
1) India's per capita income rose 9.7 percent to $1,631 in 2014 from $1,487 in the previous year.
2) India was 169th in terms of per capita income in the world.
3) India's GDP crossed $3 trillion in 2014, compared to $1.86 trillion in 2013.
4) In terms of official dollar-rupee rate, the Indian economy was ninth in terms of GDP size.
5) India remained a low-middle income economy, as per the World Bank's latest estimates on per capita income and GDP.
12. Project 'Tatkal' launched by which bank to provide doorstep services and expedite home loan application process?
1) SBI
2) HDFC
3) Bank of Baroda
4) ICICI
5) Axis
13. Options relating to 'The State of Social Safety Nets 2015' released by World Bank given. Pick the wrong option.
1) India is among the five middle-income countries running the world's largest social safety net programmes.
2) MNREGA has been ranked as the world's largest public works programme having 182 million beneficiaries or 15 percent of India's population.
3) Janani Suraksha Yojna with 78 million beneficiaries as the top-most social security programme with conditional cash transfers.
4) Indira Gandhi National Old Age Pension Scheme is the second-largest unconditional cash transfer social security programme in the world.
5) None of the above
14. NABARD said on its 34th foundation day that it has set a target of providing Rs.30,000 crore as credit to farmers for irrigation over the next three years. NABARD foundation day is ........
1) 1 April
2) 2 April
3) 9 July
4) 12 July
5) 1 Jan
15. Reserve Bank of India proposed to make Net Stable Funding Ratio (NSFR) applicable to banks in India from .......
1) January 1, 2016
2) January 1, 2017
3) January 1, 2018
4) January 1, 2019
5) January 1, 2020
16. New Home secretary of India is..
1) Jaishankar
2) G. MohanRao
3) P.K. Sinha
4) Rajiv Mehrishi
5) Nripendra Mishra
17. Mrs.Vassiliki Thanou, has been appointed as the caretaker Prime Minister .........
1) Brazil
2) Argentina
3) Greece
4) Bangladesh
5) South Korea
18. Ratan P Watal is the .........
1) New Chairman of the Indian Trade Promotion Organization (ITPO).
2) New Chairman of the Public Enterprises Selection Board (PESB).
3) New finance secretary
4) New Vice-Chief of the Indian Army
5) New TRAI Chairman
19. Sundar Pichai is the New CEO of ........
1) Twitter
2) Facebook
3) Yahoo
4) Google
5) Microsoft
20. 30 Women in Power: Their Voices, Their Stories written by .........
1) Twinkle Khanna
2) Tarun Khanna
3) Naina Lal Kidwai
4) K.D. Burman
5) Sebastian Ortiz
21. 'To The Brink And Back: India's 1991 Story' written by .......
1) Verappa Moily
2) Sonia Gandhi
3) P.V. Narasimha Rao
4) Sushma Swaraj
5) Jairam Ramesh
22. Which Indian-origin Sikh migrant driver in Australia has been named 'Australian of the Day' for feeding the homeless?
1) Neel Tushar Kashkar
2) Nikky - Guninder Kaur Singh
3) Tejinder Pal Singh
4) Preet Barra
5) None of above
23. National Humanities Medal 2014 conferred on ........
1) Zhanna Nemtsova
2) Raghavendra Gadagkar
3) Zia Haider Rahman
4) Jhumpa Lahiri
5) None
24. Forbes released the first-ever list of 100 Richest People in Technology. The list topped by ........
1) Bill Gates
2) Larry Ellison
3) Jeff Bezos
4) Mark Zuckerberg
5) Larry Page
25. In the 100 Richest People in Technology list released by Forbes, Azim Premji of Wipro spots 13th position and Shiv Nadar of HCL stands ..........
1) 20th position
2) 11th position
3) 12th position
4) 14th position
5) 8th position
26. Pro Kabaddi League 2015 title won by U Mumba after defeating ........
1) Bengaluru Bulls
2) Telugu Titans
3) Patna Pirates
4) Bengal Warriors
5) Jaipur Pink Panthers
27. 10th World Hindi Conference host .........
1) Bhopal
2) Johannesburg
3) Port of Spain
4) Port Louis
5) Nagpur
28. South Asian Association on Regional Cooperation (SAARC) conference on Disaster Mitigation held at .........
1) Dhaka
2) Islamabad
3) Colombo
4) New Delhi
5) Khatmandu
29. New Delhi Municipal Council (NDMC) has decided to rename Aurangzeb Road as ......
1) International Yoga Road
2) Swatch Bharat Road
3) Vijaya Diwas Road
4) APJ Abdul Kalam Road
5) Yogpath Road
30. Central government has identified how many cities and towns across nine states for implementation of its ambitious 'Housing for All' scheme named as Pradhan Mantri Awas Yojana?
1) 175
2) 100
3) 305
4) 295
5) 105
31. Housing and Urban Poverty Alleviation (HUPA) ministry provide assistance of over Rs.2 lakh crore to construct two crore houses for urban poor by ........ under the scheme 'Housing For All'.
1) 2020
2) 2030
3) 2022
4) 2025
5) 2035
32. PM Modi issued a commemorative coin of hundred rupees and circulation coin of ........ on Rani Gaidinliu, the legendary woman freedom fighter from the North-east on the eve of Birth Centenary Celebrations.
1) five rupees
2) ten rupees
3) fifty rupees
4) two rupees
5) one rupee
33. 15% stake in Russia's second-largest oil field Vankor from Rosneft for about $ 1.35 billion was bought by .........
1) ONGC
2) IOC
3) GAIL
4) HP
5) BP
34. Union government allowed road developers to completely exit BOT projects two years after completion and invest the funds in incomplete highway projects or power plants etc. BOT stands for .........
1) Build-Operate-Transfer
2) Build-Operate-Travel
3) Build-Own-Transfer
4) Brick-Operate-Transfer
5) None
35. India's biggest MAST was inaugurated at the Udaipur Solar Observatory on 4 August 2015. MAST stands for ......
1) Mini-Application Solar Telescope
2) Multi-Arid Solar Telescope
3) More-Application Solar Telescope
4) Multi-Application Solar Telescope
5) None of above
36. 3rd India Africa Forum Summit host ......
1) Johannesburg
2) Nairobi
3) New Delhi
4) Mogadishu
5) Harare
37. TATA Trusts paired up with whom to launch an initiative named
'Internet Saathi' to provide rural women in India with internet literacy?
1) Face Book
2) Twitter
3) WhatsApp
4) Microsoft
5) Google
38. Winter Olympics 2018 will be held at .........
1) Gold Coast
2) Moscow
3) Pyeong Chang
4) Rio De Janeiro
5) Jakarta
ANSWERS:
1-3, 2-3, 3-3, 4-4, 5-1, 6-1, 7-1, 8-3, 9-5, 10-3
11-3, 12-1, 13-5, 14-4, 15-3, 16-4, 17-3, 18-3, 19-4, 20-3
21-5, 22-3, 23-4, 24-1, 25-4, 26-1, 27-1, 28-4, 29-4, 30-3
31-3, 32-1, 33-1, 34-1, 35-4, 36-3, 37-5, 38-3
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