General Affairs
PM Modi's New Crop Insurance Scheme Reaches Out To Farmers
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NEW DELHI: The NDA government's flagship crop insurance scheme - the Pradhan Mantri Fasal Beema Yojna - which is aimed to be a major policy outreach towards farmers -- got the green signal from the Union cabinet today.
The most crucial element of the scheme is that it will bring down the rate of premium to be paid by farmers to a maximum of 2% of the sum insured. The rest will be paid by the state and the central government.
Currently, farmers have to pay a premium ranging from 4 to 15 per cent to insure crops.
Addressing the press, home minister Rajnath Singh said, "The scheme will create a security shield for farmers and will provide financial relief to them."
Crop insurance schemes have been around since 2008, but they have registered a mere 23% cover. The aim is to increase it to 50% cover in the next few years.
"Farmers didn't accept the scheme because of deficiencies. The government has now removed those," Mr Singh added.
"So far, a government will only provide relief, but now the scheme will compensate for the losses," Agriculture Minister Radhamohan Singh said.
The new scheme proposes a differential premium method, under which a farmer will pay 2% of the sum insured as premium for kharif crops and 1.5% for rabi crops.
The scheme entails immediate payment of 25% of the due compensation, the money will go directly to bank accounts of the farmers.
Going beyond the conventional methods of compensation and crop cover, the scheme provides for compensation for even loss of seed plants and post-harvest damage. It will also provide assessment for localised calamities -- including hailstorms, unseasonal rains, landslides and inundation - addressing a long-standing demand of farmers.
Instead of relying on yield data, which is often delayed, to settle claims, it will use smartphones, remote-sensing data and even drones to assess crop damage.
Urban development and poverty alleviation minister M Venkaiah Naidu told, "Because of area-based assessments -- in which the results of crop cutting experiments over a small area are used to pay claims for a larger area -- farm-level assessment is not done at all. Once farm-level assessments begin, claims for losses suffered in localised calamities will get paid."
NEW DELHI: The NDA government's flagship crop insurance scheme - the Pradhan Mantri Fasal Beema Yojna - which is aimed to be a major policy outreach towards farmers -- got the green signal from the Union cabinet today.The most crucial element of the scheme is that it will bring down the rate of premium to be paid by farmers to a maximum of 2% of the sum insured. The rest will be paid by the state and the central government.
Currently, farmers have to pay a premium ranging from 4 to 15 per cent to insure crops.
Crop insurance schemes have been around since 2008, but they have registered a mere 23% cover. The aim is to increase it to 50% cover in the next few years.
"Farmers didn't accept the scheme because of deficiencies. The government has now removed those," Mr Singh added.
"So far, a government will only provide relief, but now the scheme will compensate for the losses," Agriculture Minister Radhamohan Singh said.
The new scheme proposes a differential premium method, under which a farmer will pay 2% of the sum insured as premium for kharif crops and 1.5% for rabi crops.
The scheme entails immediate payment of 25% of the due compensation, the money will go directly to bank accounts of the farmers.
Going beyond the conventional methods of compensation and crop cover, the scheme provides for compensation for even loss of seed plants and post-harvest damage. It will also provide assessment for localised calamities -- including hailstorms, unseasonal rains, landslides and inundation - addressing a long-standing demand of farmers.
Instead of relying on yield data, which is often delayed, to settle claims, it will use smartphones, remote-sensing data and even drones to assess crop damage.
Urban development and poverty alleviation minister M Venkaiah Naidu told, "Because of area-based assessments -- in which the results of crop cutting experiments over a small area are used to pay claims for a larger area -- farm-level assessment is not done at all. Once farm-level assessments begin, claims for losses suffered in localised calamities will get paid."
India Strongly Condemns Terror Attack In Istanbul
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NEW DELHI: India today condemned the terror attack in Istanbul in which at least 10 people were killed and asserted that it unequivocally opposes terrorism in all its forms.
"The Government of India strongly condemns the suicide attack that occurred in Istanbul yesterday. India unequivocally opposes terrorism in all its forms and expresses solidarity with the Government and the people of Turkey.
"We extend our sincere condolences to the bereaved families and wish a speedy recovery to those injured in this despicable act," an External Affairs Ministry statement said.
A suspected member of ISIS group killed 10 people, at least eight of them German tourists, in the suicide bomb attack in the Turkish city of Istanbul yesterday.
"The Government of India strongly condemns the suicide attack that occurred in Istanbul yesterday. India unequivocally opposes terrorism in all its forms and expresses solidarity with the Government and the people of Turkey.
"We extend our sincere condolences to the bereaved families and wish a speedy recovery to those injured in this despicable act," an External Affairs Ministry statement said.
A suspected member of ISIS group killed 10 people, at least eight of them German tourists, in the suicide bomb attack in the Turkish city of Istanbul yesterday.
Positive Developments On Government Formation In Jammu And Kashmir Soon: BJP
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JAMMU: Seeking to dispel any "doubts" over the continuance of its alliance with PDP, BJP today expressed hope that positive developments will take place soon as its delegation met Governor NN Vohra in Jammu to convey that it was waiting for the coalition partner to make the first move.
The party was of the view that since the seven-day official mourning period is coming to an end today, there will be forward movement on the government formation in Jammu and Kashmir which is under Governor's rule since last Friday following the demise of Chief Minister Mufti Mohammad Sayeed.
"We had received a letter from the Governor asking us about our views on the government formation. I said that the coalition partner PDP needs to take the call," BJP leader and former Deputy Chief Minister Nirmal Singh told reporters after meeting Mr Vohra.
"Since there is a coalition government, it is up to PDP to decide after the demise of Mufti Sahab and we will move forward accordingly. There should not be any doubts over the coalition," he added.
Insisting that there are no differences between the two partners, BJP state president Sat Paul Sharma was of the view that positive developments will come very soon, in the next few days.
"There is no difference (between PDP and BJP coalition). As far as the question of government formation is concerned, we hope the atmosphere will change after the seven-day official mourning period (which ended today)," he said.
"We were hoping that something will happen after four days of 'churaum' (mourning), but after seven days of mourning, there will be some change in the atmosphere and very soon we will be able to take a decision," Mr Sharma said.
Flanked by the former Deputy Chief Minister Dr Nirmal Singh, Mr Sharma was replying to volley of questions over the government formation and the timing of swearing-in.
"We will soon give a new government to the people and ensure development in future at the same pace which took place during the ten months of our coalition government (headed by the Chief Minister Mufti Mohammad Sayeed)", he said.
Mr Sharma said that the previous government under Mr Sayeed had ensured development and peace in ten months period which none other government in the past has achieved during the same period and that pace of development would be continue further.
Asked whether PDP is resorting to delaying tactics for possible tie-up with other political parties, he said "there is no such question. As far as the talks are concerned, the family has not only lost their head of the family but state and the country has also suffered a great loss.
"It is a very short period till now as only a few days have passed after the death of Mufti Sahib. Things would soon be comfortable and we will soon come to a decision. The management of the government would be kept at highest place," he said.
JAMMU: Seeking to dispel any "doubts" over the continuance of its alliance with PDP, BJP today expressed hope that positive developments will take place soon as its delegation met Governor NN Vohra in Jammu to convey that it was waiting for the coalition partner to make the first move.The party was of the view that since the seven-day official mourning period is coming to an end today, there will be forward movement on the government formation in Jammu and Kashmir which is under Governor's rule since last Friday following the demise of Chief Minister Mufti Mohammad Sayeed.
"We had received a letter from the Governor asking us about our views on the government formation. I said that the coalition partner PDP needs to take the call," BJP leader and former Deputy Chief Minister Nirmal Singh told reporters after meeting Mr Vohra.
"Since there is a coalition government, it is up to PDP to decide after the demise of Mufti Sahab and we will move forward accordingly. There should not be any doubts over the coalition," he added.
Insisting that there are no differences between the two partners, BJP state president Sat Paul Sharma was of the view that positive developments will come very soon, in the next few days.
"There is no difference (between PDP and BJP coalition). As far as the question of government formation is concerned, we hope the atmosphere will change after the seven-day official mourning period (which ended today)," he said.
"We were hoping that something will happen after four days of 'churaum' (mourning), but after seven days of mourning, there will be some change in the atmosphere and very soon we will be able to take a decision," Mr Sharma said.
Flanked by the former Deputy Chief Minister Dr Nirmal Singh, Mr Sharma was replying to volley of questions over the government formation and the timing of swearing-in.
"We will soon give a new government to the people and ensure development in future at the same pace which took place during the ten months of our coalition government (headed by the Chief Minister Mufti Mohammad Sayeed)", he said.
Mr Sharma said that the previous government under Mr Sayeed had ensured development and peace in ten months period which none other government in the past has achieved during the same period and that pace of development would be continue further.
Asked whether PDP is resorting to delaying tactics for possible tie-up with other political parties, he said "there is no such question. As far as the talks are concerned, the family has not only lost their head of the family but state and the country has also suffered a great loss.
"It is a very short period till now as only a few days have passed after the death of Mufti Sahib. Things would soon be comfortable and we will soon come to a decision. The management of the government would be kept at highest place," he said.
CPI(M) Not Ruling Out Alliance With Congress In Bengal
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KOLKATA: CPI(M) Politburo member Mohammed Salim today said his party has not ruled out the prospect of an electoral alliance with the Congress ahead of the Assembly elections in West Bengal and has already spoken out the desire of the masses to oust the ruling Trinamool Congress regime.
"The people of Bengal want to get rid of the misrule of TMC. They want an alliance of all democratic and secular forces in the state. We have only given words to those aspirations. Our state secretary Surjya Kanta Mishra has already stated it. So all stakeholders, among whom this alliance has to be formed, need to be active," Mr Salim told reporters on the sidelines of a programme in Kolkata.
"We are not ruling out any possibility," he said. Speculation on an electoral alliance between the Congress and the Left gained momentum after CPI(M) state secretary Surjya Kanta Mishra, while addressing a rally on January 10, had said "It is now time for the Congress to decide yes or no.
Now, the Congress has to decide what it will do. They have to talk to their high command. It may take time. (But) the sooner they take the decision, the better."
State Congress president Adhir Chowdhury today said there were high chances of an alliance between the Congress and the Left, but added it was for the party high command to take the final call.
"There are high chances of an alliance. But, the final call will be taken by the party leadership," he said.
"The people of Bengal want to get rid of the misrule of TMC. They want an alliance of all democratic and secular forces in the state. We have only given words to those aspirations. Our state secretary Surjya Kanta Mishra has already stated it. So all stakeholders, among whom this alliance has to be formed, need to be active," Mr Salim told reporters on the sidelines of a programme in Kolkata.
"We are not ruling out any possibility," he said. Speculation on an electoral alliance between the Congress and the Left gained momentum after CPI(M) state secretary Surjya Kanta Mishra, while addressing a rally on January 10, had said "It is now time for the Congress to decide yes or no.
Now, the Congress has to decide what it will do. They have to talk to their high command. It may take time. (But) the sooner they take the decision, the better."
State Congress president Adhir Chowdhury today said there were high chances of an alliance between the Congress and the Left, but added it was for the party high command to take the final call.
"There are high chances of an alliance. But, the final call will be taken by the party leadership," he said.
Court Allows TERI Director General RK Pachauri To Travel Abroad
- NEW DELHI: A Delhi court has allowed TERI Director General RK Pachauri, facing sexual harassment allegations from a former woman colleague, to travel later this week to the United States and Guyana to attend meetings.
Metropolitan Magistrate Shivani Chauhan allowed Mr Pachauri's plea seeking permission to attend conferences in California till January 16 and then in Guyana till January 21.
The court granted him permission with a direction that he will make himself available for investigation as required.
"The accused (Pachauri) is permitted to travel, as per his itinerary as stated above, subject to furnishing of one local surety of Rs. four lakh to the satisfaction of this court and upon furnishing an undertaking that he will make himself available to the investigating officer as per her requirement upon service of notice on him by the IO," the court said.
While seeking permission, Pachauri's advocate Ashish Dixit said his client has been fully cooperating with the probe and he would make himself available as and when required by the Investigating Officer (IO).
The police opposed his plea on the ground that Mr Pachauri had failed to give satisfactory answers to their questions, but the IO affirmed that he had joined investigation.
In its order, the court noted that Pachauri has cooperated in the probe and complied with the conditions imposed on him when he was granted permission to travel on earlier occasions.
"There is nothing on record which shows that the accused has not cooperated in the investigation," the court said.
On February 13, an FIR was registered against Pachauri on charges of sexual harassment under IPC sections 354, 354(a), 354(d) (molestation) and 506 (criminal intimidation).
He had also stepped down from United Nations' IPCC and Prime Minister's Council on Climate Change after the case was lodged against him.
Mr Pachauri has been allowed to travel abroad by the court on seven occasions, including the latest.
During the pendency of the trial, he has travelled to various countries to attend global meets and conferences on environmental issues, including USA, China, Japan, Kazakhstan, Bolivia, Kuwait, Somalia, France and Saudi Arabia.
Metropolitan Magistrate Shivani Chauhan allowed Mr Pachauri's plea seeking permission to attend conferences in California till January 16 and then in Guyana till January 21.
The court granted him permission with a direction that he will make himself available for investigation as required.
"The accused (Pachauri) is permitted to travel, as per his itinerary as stated above, subject to furnishing of one local surety of Rs. four lakh to the satisfaction of this court and upon furnishing an undertaking that he will make himself available to the investigating officer as per her requirement upon service of notice on him by the IO," the court said.
While seeking permission, Pachauri's advocate Ashish Dixit said his client has been fully cooperating with the probe and he would make himself available as and when required by the Investigating Officer (IO).
The police opposed his plea on the ground that Mr Pachauri had failed to give satisfactory answers to their questions, but the IO affirmed that he had joined investigation.
In its order, the court noted that Pachauri has cooperated in the probe and complied with the conditions imposed on him when he was granted permission to travel on earlier occasions.
"There is nothing on record which shows that the accused has not cooperated in the investigation," the court said.
On February 13, an FIR was registered against Pachauri on charges of sexual harassment under IPC sections 354, 354(a), 354(d) (molestation) and 506 (criminal intimidation).
He had also stepped down from United Nations' IPCC and Prime Minister's Council on Climate Change after the case was lodged against him.
Mr Pachauri has been allowed to travel abroad by the court on seven occasions, including the latest.
During the pendency of the trial, he has travelled to various countries to attend global meets and conferences on environmental issues, including USA, China, Japan, Kazakhstan, Bolivia, Kuwait, Somalia, France and Saudi Arabia.
Business Affairs
Sensex ends 172 points up, Nifty tops 7,550-mark in a volatile trading day
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In a volatile trading session, the S&P BSE Sensex ended 172 points higher in trade on Wednesday, while broader CNX Nifty reclaimed its key 7,550-mark after falling below 7,500 level.
The headline indices scuttled between red and green on disappointment over corporate earnings, concerns about China, and profit-booking in broader markets.
The 30-share index ended at 24,854.11, up 172.08 points, while broad-based 50-share index quoted 7,562.40, up 52.10 points at close.
Market breadth turned positive with 18 of the 30 Sensex components ending the day in green.
Infosys stock was the top gainer on both the benchmark indices and gained over 3 per cent.
Tata Consultancy Services shares (TCS) fell 1.88 per cent after third-quarter dollar revenue of the country's largest IT services exporter missed street estimates.
Sentiment was also soured as Chinese markets gave up earlier gains to end 2.4 per cent lower, underscoring the fragility of investor sentiment following last week's rout.
"The market is in a bearish mode. Many frontline stocks have hit 52-week lows, expectations from earnings are low and investors are booking profits in mid-cap stocks," said Alex Mathews, head of research at Geojit BNP Paribas.
Meanwhile, shares of Infosys gained 1.5 per cent on hopes that the valuation gap between the stock and larger rival TCS was closing. The company will declare its financial results for the December quarter on Thursday.
Among Asian markets, Japan's Nikkei finished higher for the first time in 2016. Index gained 2.88 per cent. China's mercurial markets briefely rose in the early trade only to close 2.42 per cent down, while Hong Kong's Hang Seng index gained 1.13 per cent.
Overnight, a late rebound in energy and biotech shares helped push the US markets to a second straight day of gains.
A lowdown on markets today
12:07 pm
Sensex at 24,550.35, down 131.68 points
Nifty at 7,477.10, down 33.20 points
11:00 am
Sensex at 24,865, gains 183 points
Nifty at 7,562, up 52 points
9:25 am
Sensex at 24,818.64, up 136.61 points
Nifty at 7,555.25, up 44.95 points
In a volatile trading session, the S&P BSE Sensex ended 172 points higher in trade on Wednesday, while broader CNX Nifty reclaimed its key 7,550-mark after falling below 7,500 level.
The headline indices scuttled between red and green on disappointment over corporate earnings, concerns about China, and profit-booking in broader markets.
The 30-share index ended at 24,854.11, up 172.08 points, while broad-based 50-share index quoted 7,562.40, up 52.10 points at close.
Market breadth turned positive with 18 of the 30 Sensex components ending the day in green.
Infosys stock was the top gainer on both the benchmark indices and gained over 3 per cent.
Tata Consultancy Services shares (TCS) fell 1.88 per cent after third-quarter dollar revenue of the country's largest IT services exporter missed street estimates.
Sentiment was also soured as Chinese markets gave up earlier gains to end 2.4 per cent lower, underscoring the fragility of investor sentiment following last week's rout.
"The market is in a bearish mode. Many frontline stocks have hit 52-week lows, expectations from earnings are low and investors are booking profits in mid-cap stocks," said Alex Mathews, head of research at Geojit BNP Paribas.
Meanwhile, shares of Infosys gained 1.5 per cent on hopes that the valuation gap between the stock and larger rival TCS was closing. The company will declare its financial results for the December quarter on Thursday.
Among Asian markets, Japan's Nikkei finished higher for the first time in 2016. Index gained 2.88 per cent. China's mercurial markets briefely rose in the early trade only to close 2.42 per cent down, while Hong Kong's Hang Seng index gained 1.13 per cent.
Overnight, a late rebound in energy and biotech shares helped push the US markets to a second straight day of gains.
A lowdown on markets today
12:07 pm
Sensex at 24,550.35, down 131.68 points
Nifty at 7,477.10, down 33.20 points
11:00 am
Sensex at 24,865, gains 183 points
Sensex at 24,865, gains 183 points
Nifty at 7,562, up 52 points
9:25 am
Sensex at 24,818.64, up 136.61 points
Nifty at 7,555.25, up 44.95 points
US hikes H1B, L1 visa fee; to hit Indian IT companies
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In a blow to Indian IT firms, the US has notified an additional fee up to $4,000 for certain categories of the popular H-1B and L-1 visas.
The US Citizenship and Immigration Service (USCIS) said applicants for certain categories of H-1B visas post December 18, 2015 must submit an additional fee of $4,000. In addition, for those applying for certain L-1A and L-1B must submit an additional $4,500. Referring to the Consolidated Appropriations Act, 2016 signed into law by US President Barack Obama on December 18, 2015, USCIS said the additional fees apply to petitioners who employ 50 or more employees in the US, with more than 50 per cent of those employees in H-1B or L (including L-1A and L-1B) nonimmigrant status.
This fee is in addition to the base processing fee, Fraud Prevention and Detection Fee, American Competitiveness and Workforce Improvement Act of 1998 fee (when required), as well as the premium processing fee, if applicable. "This will remain effective through September 30, 2025," USCIS said.
In a statement, USCIS warned that it will begin rejecting H-1B and L-1 visa petitions received on or after February 11, 2016 that do not carry the information required under the new law. USCIS has also revised the necessary forms in this regard. During the 30-day period immediately following this web alert, USCIS may issue a Request for Evidence (RFE) to determine whether the additional fee applies to the petition.
In a study released in September last year, NASSCOM, a trade association of Indian IT industry, said Indian IT companies have paid between $70 to $80 million annually for the US Treasury approximately. Given that, the new punitive measure is expected to raise between $1.4 billion and $1.6 billion every year for the next one decade.
In December, Prime Minister Narendra Modi raised the issue with Obama when the latter telephoned him to thank for his leadership role on achieving the historic agreement on climate change in Paris on December 12.
In a blow to Indian IT firms, the US has notified an additional fee up to $4,000 for certain categories of the popular H-1B and L-1 visas.
The US Citizenship and Immigration Service (USCIS) said applicants for certain categories of H-1B visas post December 18, 2015 must submit an additional fee of $4,000. In addition, for those applying for certain L-1A and L-1B must submit an additional $4,500. Referring to the Consolidated Appropriations Act, 2016 signed into law by US President Barack Obama on December 18, 2015, USCIS said the additional fees apply to petitioners who employ 50 or more employees in the US, with more than 50 per cent of those employees in H-1B or L (including L-1A and L-1B) nonimmigrant status.
This fee is in addition to the base processing fee, Fraud Prevention and Detection Fee, American Competitiveness and Workforce Improvement Act of 1998 fee (when required), as well as the premium processing fee, if applicable. "This will remain effective through September 30, 2025," USCIS said.
In a statement, USCIS warned that it will begin rejecting H-1B and L-1 visa petitions received on or after February 11, 2016 that do not carry the information required under the new law. USCIS has also revised the necessary forms in this regard. During the 30-day period immediately following this web alert, USCIS may issue a Request for Evidence (RFE) to determine whether the additional fee applies to the petition.
In a study released in September last year, NASSCOM, a trade association of Indian IT industry, said Indian IT companies have paid between $70 to $80 million annually for the US Treasury approximately. Given that, the new punitive measure is expected to raise between $1.4 billion and $1.6 billion every year for the next one decade.
In December, Prime Minister Narendra Modi raised the issue with Obama when the latter telephoned him to thank for his leadership role on achieving the historic agreement on climate change in Paris on December 12.
IOC says to invest up to $2.7 billion in six refineries
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Indian Oil Corp, the country's biggest refiner, will invest up to Rs 18,000 crore ($2.69 billion) in six of its refineries to upgrade fuel specifications to meet government norms, a senior official said on Wednesday.
About RS 4,000 crore would be needed for producing Euro IV compliant fuels and another Rs 13,000-14,000 crore required for upgrading facilities to produce Euro VI compliant fuels at the six directly owned refineries of state-run IOC, said Sanjiv Singh, the company's head of refineries.
The government plans to roll out Euro VI compliant fuels from April 1, 2020 to curb pollution and refiners need to invest Rs 30,000 crore to produce the same.
"It is an extremely challenging task but we will do it," Singh said, commenting on IOC refineries' capability to produce Euro VI.
Singh said the money needed for the six refineries excluded investment needed for upgrading fuel specifications at its recently commissioned 300,000 bpd Paradip Refinery in Odisha state. IOC aims to invest Rs 4,000 crore in upgrading the Paradip refinery.
Indian Oil Corp, the country's biggest refiner, will invest up to Rs 18,000 crore ($2.69 billion) in six of its refineries to upgrade fuel specifications to meet government norms, a senior official said on Wednesday.
About RS 4,000 crore would be needed for producing Euro IV compliant fuels and another Rs 13,000-14,000 crore required for upgrading facilities to produce Euro VI compliant fuels at the six directly owned refineries of state-run IOC, said Sanjiv Singh, the company's head of refineries.
The government plans to roll out Euro VI compliant fuels from April 1, 2020 to curb pollution and refiners need to invest Rs 30,000 crore to produce the same.
"It is an extremely challenging task but we will do it," Singh said, commenting on IOC refineries' capability to produce Euro VI.
Singh said the money needed for the six refineries excluded investment needed for upgrading fuel specifications at its recently commissioned 300,000 bpd Paradip Refinery in Odisha state. IOC aims to invest Rs 4,000 crore in upgrading the Paradip refinery.
Union Budget 2016-17: Banking sector seeks hike in tax exemption limit for savings
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Banking sector on Tuesday sought increasing the tax exemption limit for savings to Rs 2.5 lakhs and allowing it to issue off-shore rupee bonds to finance infrastructure, at a pre-Budget meeting Finance Minister Arun Jaitley had with banks and financial institutions.
"Other suggestions include listing of non-life insurance public sector undertakings while retaining majority government control and broad-based FDI (foreign direct investment) in agriculture sector," a finance ministry release in New Delhi said.
The delegation also recommended digitization of land records to compensate farmers quickly, and direct distribution of fertilizer subsidies to farmers through the Direct Benefit Transfer (DBT) scheme so that savings on this account could be used for increasing public capex spending, it added.
"Other suggestions included interest rate of small savings schemes be rationalized and fixed at a five year government security yields," the ministry said.
Industry representatives who attended the meeting included Reserve Bank of India Deputy Governor Urjit Patel, State Bank of India chairperson Arundhatti Bhatacharya, Bank of Baroda executive director BB Joshi, Janaagraha's Bharath Sondur, LIC chairman SK Roy, IIFCL chairman SB Nayar, IDBI Bank chairman Kishore Kharat, Axis Bank chief executive Shikha Sharma, and Citibank chief executive Pramit Jhaveri.
Banking sector on Tuesday sought increasing the tax exemption limit for savings to Rs 2.5 lakhs and allowing it to issue off-shore rupee bonds to finance infrastructure, at a pre-Budget meeting Finance Minister Arun Jaitley had with banks and financial institutions.
"Other suggestions include listing of non-life insurance public sector undertakings while retaining majority government control and broad-based FDI (foreign direct investment) in agriculture sector," a finance ministry release in New Delhi said.
The delegation also recommended digitization of land records to compensate farmers quickly, and direct distribution of fertilizer subsidies to farmers through the Direct Benefit Transfer (DBT) scheme so that savings on this account could be used for increasing public capex spending, it added.
"Other suggestions included interest rate of small savings schemes be rationalized and fixed at a five year government security yields," the ministry said.
Industry representatives who attended the meeting included Reserve Bank of India Deputy Governor Urjit Patel, State Bank of India chairperson Arundhatti Bhatacharya, Bank of Baroda executive director BB Joshi, Janaagraha's Bharath Sondur, LIC chairman SK Roy, IIFCL chairman SB Nayar, IDBI Bank chairman Kishore Kharat, Axis Bank chief executive Shikha Sharma, and Citibank chief executive Pramit Jhaveri.
Cess Pool Mystery
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The report of the Comptroller and Auditor General (CAG) in late December, raising questions about the utilisation of funds collected by the government under various cesses, has jolted taxpayers. "The problem is lack of transparency," says Pronab Sen, Chairman, National Statistical Commission. "The finance ministry should regularly reveal how much it collects and how much it disburses. But it does not."
The CAG report notes that Rs 64,000 crore was collected as cess on secondary and higher education between 2005/06 and 2014/15. "Neither was a fund designated to deposit the proceeds of the cess nor were schemes identified on which the cess proceeds were to be spent," it says. "Conse- quently, the commitment of furthering secondary and higher education as envisaged in the Finance Act was not transparently ascertainable from the Union account."
It also points out that only part of the funds obtained through a number of other cesses are accounted for. Of the Rs 5,784 crore collected as cess for research and development since 1996, only Rs 550 crore - or less than 10 per cent - has been utilised. In 2014/15 alone, the government collected Rs 907 crore through this cess, but the only outgo recorded is a transfer of Rs 7 crore to a fund administered by the Technology Development Board. Again, of the primary education cess in force since 2004, which had mopped up Rs 1,54,818 crore, Rs 13,298 crore remains unused or unaccounted for. Of the clean energy cess in force since 2010/11, over 40 per cent - Rs 6,258 crore out of Rs 15,174 crore collected - is unutilised (see No Accountability). There is no separate fund in which cesses are deposited - they go into the Consolidated Fund of India, alongside all revenue and loans obtained by the Central government.
The latest cess, imposed since last November 15, is the Swachh Bharat Cess of 0.5 per cent on all services, to fund the clean-up campaign of Prime Minister Narendra Modi. But there is no clarity on how much has been collected or how it is being spent, if at all. Service tax was raised last year from 12.37 per cent to 14 per cent, while cess was increased to 14.5 per cent.
"It is the government's right to levy cess to raise money for a specific purpose," says K.V. Thomas, Congress MP from Ernakulam, Kerala, and Chairperson of the Public Accounts Committee (PAC). "But government must be more transparent about the way it uses money. The PAC, under its former chairman, Murli Manohar Joshi, had raised this issue on several occasions. We will also look into it when we take stock of the accounts."
Have these funds been diverted for other purposes? No one knows.
"If the money collected through a particular cess is not used for the purpose it was intended, it must have been used for something else," says a CAG official involved in the preparation of the December report, who does not want to be named. "There are many departments and ministries which spend more than the money allotted to them. Unused funds could have been diverted." In 2014/15, for example, defence pension cost the government Rs 9,436 crore - more than what had been budgeted for it.
The difference between a cess and general funds sanctioned for different ministries and departments is that the former does not need to be annually passed by Parliament as long as it is used for the purpose it was collected. "There are situations where a government needs an uninterrupted flow of funds, where the commitment is long term, and which thus warrant imposing a cess," says Sen. "Or else, fund utilisation will have to be voted upon every time, which is cumbersome." But he stresses that it is important to earmark the funds properly, which is not being done. "Ideally, cess funds should be escrowed," he adds.
But the government remains reluctant to part with details. There are just two references to cesses, for instance, in the plan outlay for 2015/16. At one point it says: "An estimated receipt of Rs 27,575 crore by way of proceeds from the (Primary) Education Cess will be credited to Prarambhik Shiksha Kosh." The second mention says the government will spend Rs 1,645 crore of the cess on diesel (part of the road cess) on railways.
The report of the Comptroller and Auditor General (CAG) in late December, raising questions about the utilisation of funds collected by the government under various cesses, has jolted taxpayers. "The problem is lack of transparency," says Pronab Sen, Chairman, National Statistical Commission. "The finance ministry should regularly reveal how much it collects and how much it disburses. But it does not."
The CAG report notes that Rs 64,000 crore was collected as cess on secondary and higher education between 2005/06 and 2014/15. "Neither was a fund designated to deposit the proceeds of the cess nor were schemes identified on which the cess proceeds were to be spent," it says. "Conse- quently, the commitment of furthering secondary and higher education as envisaged in the Finance Act was not transparently ascertainable from the Union account."
It also points out that only part of the funds obtained through a number of other cesses are accounted for. Of the Rs 5,784 crore collected as cess for research and development since 1996, only Rs 550 crore - or less than 10 per cent - has been utilised. In 2014/15 alone, the government collected Rs 907 crore through this cess, but the only outgo recorded is a transfer of Rs 7 crore to a fund administered by the Technology Development Board. Again, of the primary education cess in force since 2004, which had mopped up Rs 1,54,818 crore, Rs 13,298 crore remains unused or unaccounted for. Of the clean energy cess in force since 2010/11, over 40 per cent - Rs 6,258 crore out of Rs 15,174 crore collected - is unutilised (see No Accountability). There is no separate fund in which cesses are deposited - they go into the Consolidated Fund of India, alongside all revenue and loans obtained by the Central government.
The latest cess, imposed since last November 15, is the Swachh Bharat Cess of 0.5 per cent on all services, to fund the clean-up campaign of Prime Minister Narendra Modi. But there is no clarity on how much has been collected or how it is being spent, if at all. Service tax was raised last year from 12.37 per cent to 14 per cent, while cess was increased to 14.5 per cent.
"It is the government's right to levy cess to raise money for a specific purpose," says K.V. Thomas, Congress MP from Ernakulam, Kerala, and Chairperson of the Public Accounts Committee (PAC). "But government must be more transparent about the way it uses money. The PAC, under its former chairman, Murli Manohar Joshi, had raised this issue on several occasions. We will also look into it when we take stock of the accounts."
Have these funds been diverted for other purposes? No one knows.
"If the money collected through a particular cess is not used for the purpose it was intended, it must have been used for something else," says a CAG official involved in the preparation of the December report, who does not want to be named. "There are many departments and ministries which spend more than the money allotted to them. Unused funds could have been diverted." In 2014/15, for example, defence pension cost the government Rs 9,436 crore - more than what had been budgeted for it.
The difference between a cess and general funds sanctioned for different ministries and departments is that the former does not need to be annually passed by Parliament as long as it is used for the purpose it was collected. "There are situations where a government needs an uninterrupted flow of funds, where the commitment is long term, and which thus warrant imposing a cess," says Sen. "Or else, fund utilisation will have to be voted upon every time, which is cumbersome." But he stresses that it is important to earmark the funds properly, which is not being done. "Ideally, cess funds should be escrowed," he adds.
But the government remains reluctant to part with details. There are just two references to cesses, for instance, in the plan outlay for 2015/16. At one point it says: "An estimated receipt of Rs 27,575 crore by way of proceeds from the (Primary) Education Cess will be credited to Prarambhik Shiksha Kosh." The second mention says the government will spend Rs 1,645 crore of the cess on diesel (part of the road cess) on railways.
General Awareness
GENERAL AWARENESS PRACTICE QUESTIONS FOR BANK EXAMS
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1. The headquarters of the "United Nations Environment Programme" (UNEP) are situated in–
(A) New York City, USA (B) Washington DC, USA (C) Geneva, Switzerland
(D) Nairobi, Kenya (E) Vienna, Australia (Ans : D)
2. The 2016 European Football Championship Euro 2016" is scheduled to take place from June 10 to July 2016 in–
(A) Italy (B) Scotland (C) France (D) Denmark (E) Germany (Ans : C)
3. The book 'Letters from a Nation from Jawaharlal Nehru to his Chief Ministers 1947-1963' edited by Madhav Khosla has recently been published by–
(A) Pavilion Books (B) Pathfinder Press (C) Penguin Books (D) Prentice Hall (E) Pan McMillan (Ans : C)
4. Cibil Transunion score ranges from……… to.
(A) 100, 300 (B) 300, 500 (C) 300, 900 (D) 250, 750 (E) 100, 900 (Ans : C)
5. The first man to be appointed as the Goodwill Ambassador for South Asian for UN Women's newly launched- 'He For She' initiative is–
(A) Aamir Khan (B) Sourav Ganguly (C) Sachin Tendulkar (D) Farhan Akhtar (E) Virat Kohli (Ans : D)
6. Which of the following institutes has introduced RuPay Debit Card?
(A) DISCOVER (B) VISA (C) MASTER (D) RBI (E) NPCI (Ans : E)
7. The National Capital of Republic of Iraq is–
(A) Medina (B) Al Bahah (C) Baghdad (D) Jeddah (E) Tehran (Ans : C)
8. As per the press report what is the deadline for exchange of pre 2005 notes?
(A) 15-12-2014 (B) 30-11-2014 (C) 01-01-2015 (D) 31-03-2015 (E) 30-12-2014 (Ans : C)
9. With a view to scaling up bilateral Research and innovation relationship ‘A Newton Bhabha Fund has recently been established by India and–
(A) United States of America (B) United Kingdom (UK) (C) France (D) Scotland (E) Ireland (Ans : B)
10. The Constituent member of the Council of Scientific and Industrial Research (CSIR), the National Chemical Laboratory (NCL) is situated at–
(A) NOIDA, Uttar Pradesh (B) Hyderabad, Telangana (C) Pune, Maharashtra
(D) Hissar, Haryana (E) Ludhiana, Punjab (Ans : C)
11. The Currency of the 'Kingdom of Saudi Arabia' (KSA) is–
(A) Saudi Rupee (SAR) (B) Saudi Real (SAR) (C) Saudi Rupiah (SAR)
(D) Saudi Rubir (SAR) (E) Saudi Riyal (SAR) (Ans : E)
12. In Banking, IFSC code stands for–
(A) International Forex System Code (B) Other than those given as options
(C) Indian Function System Code (D) Indian Financial System Code
(E) International Format System Code (Ans : D)
13. 'Veenapani Chawla' who died recently at the age of 67 was an acclaimed–
(A) Classical Dancer (B) Theatre Personality (C) Hindi Poet and Lyricist
(D) Scientist (E) Sportsperson (Ans : B)
14. The 45th International Film Festival of India (IFFI) was recently held at–
(A) New Delhi (B) Bengaluru (C) Goa (D) Pune (E) Lucknow (Ans : C)
15. Which of the following Authorities issues IEC code to enable an entity to undertake export/import business in our country?
(A) Finance Ministry (B) DGFT (C) RBI (D) SEBI (E) No such code is necessary hence anyone can undertake import/ export business (Ans : B)
16. Which of the following is the main objective of the Govt. in introducing the Jan Dhan Yojana?
(A) To provide minimum one account for every household (B) To ensure that banks in India gets more deposits
(C) Other than those given as options (D) To increase the number of savings bank accounts in public sector banks
(E) To increase the vote bank (Ans : A)
17. The 'World Aids Day' is observed across the world every year on–
(A) 1st April (B) 8th June (C) 8th August (D) 1st December (E) 9th December (Ans : D)
18. Which of the following issue Commercial Paper?
(A) Other than those given as options (B) High net worth individuals (C) Banks (D) RBI (E) Corporates (Ans : E)
19. Dronacharya Award is an Award presented by the Government of India for Excellence in–
(A) Primary Education (B) Adult Literacy (C) Sports Coaching (D) Educational Research (E) College Education (Ans : C)
20. As per a resolution of the United Nations the World observes November 19 every year as the–
(A) World Radio Day (B) World Health Day (C) World Water Day (D) World Toilet Day (E) World Happiness Day (Ans : D)
21. The winner of the men's Kabaddi Gold in the 17th Asian Games is–
(A) India (B) Pakistan (C) Japan (D) Iran (E) South Korea (Ans : A)
22. In spite of the differences with the States, policy-makers believe that 'GST' can be in force by its deadline of April 1, 2016. The abbreviation 'GST stands for–
(A) General Sales Tax (B) Goods and Service Tax (C) Global Sales Tax
(D) Government Sales Tax (E) General Service Tax (Ans : B)
23. The 'Magnetic Hills' or the so-called 'Gravity Hills' are located near–
(A) Leh in Ladakh (B) Itanagar in Arunachal Pradesh (C) Gangtok in Sikkim
(D) Panaji in Goa (E) Kannur in Kerala (Ans : A)
24. Which of the following Indian states has become the first state in the country where voting in local body polls has been made mandatory?
(A) Haryana (B) Maharashtra (C) Gujarat (D) Telangana (E) Tamil Nadu (Ans : C)
25. PSLV is an expandable launch system developed and operated by ISRO to launch its 'IRS' satellites. The abbreviation 'IRS' stands for–
(A) Indian Remote Shadow (B) Indian Research Science (C) Indian Remote Surveillance
(D) Indian Remote Sensing (E) Indian Remote Supervision (Ans : D)
26. What is the lock-in-period for a tax-saver fixed deposit in a bank ?
(A) 2 and half years (B) 3 years (C) 2 years (D) 5 years (E) There is no lock-in-period (Ans : D)
27. Which of the following former Indian cricket captains is associated with the upliftment of poor and destitute communicates through the Khushi Society?
(A) Rahul Dravid (B) Sunil Gavaskar (C) Sachin Tendulkar (D) Sourav Ganguly (E) Kapil Dev (Ans : E)
28. The STAR Sports Vijay Trophy is associated with the game of–
(A) Hockey (B) Cricket (C) Golf (D) Tennis (E) Basketball (Ans : B)
29. China's 14-year old 'Yan Bangtao' recently became the youngest player to win a World Title. 'Yan Bangtao' is associated with the game of–
(A) Chess (B) Boxing (C) Archery (D) Snooker (E) Lawn Tennis (Ans : D)
30. Held every year in the month of December the 'Hornbill Festival' is the premier festival of the Indian State of–
(A) Sikkim (B) Meghalaya (C) Goa (D) Tripura (E) Nagaland (Ans : E)
31. In Bank group-wise classification, IDBI Bank Ltd. has been included in which among the following?
(A) Private sector banks (B) Foreign banks (C) Investment banks
(D) Other than those given as options (E) Public sector banks (Ans : E)
32. The 2014 Sweriges Raksbank Prize in economic sciences in memory of Alfred Nobel has been awarded to–
(A) Jean Tirole of France (B) Hiroshi Amano of Japan (C) Isamu Alaski of Japan
(D) Patrick Moniamo of France (E) Norwegian May-Bratt and Edward Moser (Ans : A)
33. 'What is the percentage of share holding of the concerned State Govt. in Regional Rural Bank ?
(A) 100% (B) 15% (C) 50% (D) 35% (E) 75% (Ans : B)
34. In Limited Liability Partnership (LLP) what is the extent of liability of a partner?
(A) Liability of Partners is jointly and several (B) Other than those given as options
(C) Each partner is fully liable (D) Limited to the extent of his share holding
(E) Each partner is liable not only to the extent of his share but also to the share of other partners in case of any shortfall (Ans : D)
35. The 2014 Urban Mobility India (UMI) conference was recently held in–
(A) Bengaluru (B) Navi Mumbai (C) Ahmedabad (D) New Delhi (E) Chandigarh (Ans : D)
36. Many times we read about SEZ in Newspapers/Magazines. What is the full form of SEZ ?
(A) Socio Economic Zone (B) Special Economic Zone (C) Small Economic Zone
(D) Special Enforcement Zone (E) Service and Economic Zone (Ans : B)
37. What is the capital of Iraq?
(A) Baghdad (B) Turkey (C) Istanbul (D) Kirkuk (E) Zakho (Ans : A)
38. What is the full form of PDA?
(A) Personal Digital Assistant (B) Personal Digital Assist (C) Professional Digital Assist
(D) Professional Digital Association (E) Personal Digital Assessment (Ans : A)
39. Gilt-edged market means–
(A) bullion market (B) market of government securities (C) market of guns
(D) market of pure metals (E) market of finance (Ans : B)
40. 'Cinepolis' which has a presence of 110 screens in India is reported to have acquired the chain fun cinemas of the essel group (93 screens). 'Cinepolis' is a–
(A) Chinese Multiplex Chain (B) Indian Multiplex Chain (C) Russian Multiplex Chain
(D) French Multiplex Chain (E) Mexican Multiplex Chain (Ans : E)
- 1. The headquarters of the "United Nations Environment Programme" (UNEP) are situated in–(A) New York City, USA (B) Washington DC, USA (C) Geneva, Switzerland(D) Nairobi, Kenya (E) Vienna, Australia (Ans : D)
2. The 2016 European Football Championship Euro 2016" is scheduled to take place from June 10 to July 2016 in–(A) Italy (B) Scotland (C) France (D) Denmark (E) Germany (Ans : C)3. The book 'Letters from a Nation from Jawaharlal Nehru to his Chief Ministers 1947-1963' edited by Madhav Khosla has recently been published by–(A) Pavilion Books (B) Pathfinder Press (C) Penguin Books (D) Prentice Hall (E) Pan McMillan (Ans : C)4. Cibil Transunion score ranges from……… to.(A) 100, 300 (B) 300, 500 (C) 300, 900 (D) 250, 750 (E) 100, 900 (Ans : C)5. The first man to be appointed as the Goodwill Ambassador for South Asian for UN Women's newly launched- 'He For She' initiative is–
(A) Aamir Khan (B) Sourav Ganguly (C) Sachin Tendulkar (D) Farhan Akhtar (E) Virat Kohli (Ans : D)
6. Which of the following institutes has introduced RuPay Debit Card?
(A) DISCOVER (B) VISA (C) MASTER (D) RBI (E) NPCI (Ans : E)
7. The National Capital of Republic of Iraq is–
(A) Medina (B) Al Bahah (C) Baghdad (D) Jeddah (E) Tehran (Ans : C)
8. As per the press report what is the deadline for exchange of pre 2005 notes?
(A) 15-12-2014 (B) 30-11-2014 (C) 01-01-2015 (D) 31-03-2015 (E) 30-12-2014 (Ans : C)
9. With a view to scaling up bilateral Research and innovation relationship ‘A Newton Bhabha Fund has recently been established by India and–
(A) United States of America (B) United Kingdom (UK) (C) France (D) Scotland (E) Ireland (Ans : B)
10. The Constituent member of the Council of Scientific and Industrial Research (CSIR), the National Chemical Laboratory (NCL) is situated at–
(A) NOIDA, Uttar Pradesh (B) Hyderabad, Telangana (C) Pune, Maharashtra
(D) Hissar, Haryana (E) Ludhiana, Punjab (Ans : C)
11. The Currency of the 'Kingdom of Saudi Arabia' (KSA) is–
(A) Saudi Rupee (SAR) (B) Saudi Real (SAR) (C) Saudi Rupiah (SAR)
(D) Saudi Rubir (SAR) (E) Saudi Riyal (SAR) (Ans : E)
12. In Banking, IFSC code stands for–
(A) International Forex System Code (B) Other than those given as options
(C) Indian Function System Code (D) Indian Financial System Code
(E) International Format System Code (Ans : D)
13. 'Veenapani Chawla' who died recently at the age of 67 was an acclaimed–
(A) Classical Dancer (B) Theatre Personality (C) Hindi Poet and Lyricist
(D) Scientist (E) Sportsperson (Ans : B)
14. The 45th International Film Festival of India (IFFI) was recently held at–
(A) New Delhi (B) Bengaluru (C) Goa (D) Pune (E) Lucknow (Ans : C)
15. Which of the following Authorities issues IEC code to enable an entity to undertake export/import business in our country?
(A) Finance Ministry (B) DGFT (C) RBI (D) SEBI (E) No such code is necessary hence anyone can undertake import/ export business (Ans : B)
16. Which of the following is the main objective of the Govt. in introducing the Jan Dhan Yojana?
(A) To provide minimum one account for every household (B) To ensure that banks in India gets more deposits
(C) Other than those given as options (D) To increase the number of savings bank accounts in public sector banks
(E) To increase the vote bank (Ans : A)
17. The 'World Aids Day' is observed across the world every year on–
(A) 1st April (B) 8th June (C) 8th August (D) 1st December (E) 9th December (Ans : D)
18. Which of the following issue Commercial Paper?
(A) Other than those given as options (B) High net worth individuals (C) Banks (D) RBI (E) Corporates (Ans : E)
19. Dronacharya Award is an Award presented by the Government of India for Excellence in–
(A) Primary Education (B) Adult Literacy (C) Sports Coaching (D) Educational Research (E) College Education (Ans : C)
20. As per a resolution of the United Nations the World observes November 19 every year as the–
(A) World Radio Day (B) World Health Day (C) World Water Day (D) World Toilet Day (E) World Happiness Day (Ans : D)
21. The winner of the men's Kabaddi Gold in the 17th Asian Games is–
(A) India (B) Pakistan (C) Japan (D) Iran (E) South Korea (Ans : A)
22. In spite of the differences with the States, policy-makers believe that 'GST' can be in force by its deadline of April 1, 2016. The abbreviation 'GST stands for–
(A) General Sales Tax (B) Goods and Service Tax (C) Global Sales Tax
(D) Government Sales Tax (E) General Service Tax (Ans : B)
23. The 'Magnetic Hills' or the so-called 'Gravity Hills' are located near–
(A) Leh in Ladakh (B) Itanagar in Arunachal Pradesh (C) Gangtok in Sikkim
(D) Panaji in Goa (E) Kannur in Kerala (Ans : A)
24. Which of the following Indian states has become the first state in the country where voting in local body polls has been made mandatory?
(A) Haryana (B) Maharashtra (C) Gujarat (D) Telangana (E) Tamil Nadu (Ans : C)
25. PSLV is an expandable launch system developed and operated by ISRO to launch its 'IRS' satellites. The abbreviation 'IRS' stands for–
(A) Indian Remote Shadow (B) Indian Research Science (C) Indian Remote Surveillance
(D) Indian Remote Sensing (E) Indian Remote Supervision (Ans : D)
26. What is the lock-in-period for a tax-saver fixed deposit in a bank ?
(A) 2 and half years (B) 3 years (C) 2 years (D) 5 years (E) There is no lock-in-period (Ans : D)
27. Which of the following former Indian cricket captains is associated with the upliftment of poor and destitute communicates through the Khushi Society?
(A) Rahul Dravid (B) Sunil Gavaskar (C) Sachin Tendulkar (D) Sourav Ganguly (E) Kapil Dev (Ans : E)
28. The STAR Sports Vijay Trophy is associated with the game of–
(A) Hockey (B) Cricket (C) Golf (D) Tennis (E) Basketball (Ans : B)
29. China's 14-year old 'Yan Bangtao' recently became the youngest player to win a World Title. 'Yan Bangtao' is associated with the game of–
(A) Chess (B) Boxing (C) Archery (D) Snooker (E) Lawn Tennis (Ans : D)
30. Held every year in the month of December the 'Hornbill Festival' is the premier festival of the Indian State of–
(A) Sikkim (B) Meghalaya (C) Goa (D) Tripura (E) Nagaland (Ans : E)
31. In Bank group-wise classification, IDBI Bank Ltd. has been included in which among the following?
(A) Private sector banks (B) Foreign banks (C) Investment banks
(D) Other than those given as options (E) Public sector banks (Ans : E)
32. The 2014 Sweriges Raksbank Prize in economic sciences in memory of Alfred Nobel has been awarded to–
(A) Jean Tirole of France (B) Hiroshi Amano of Japan (C) Isamu Alaski of Japan
(D) Patrick Moniamo of France (E) Norwegian May-Bratt and Edward Moser (Ans : A)
33. 'What is the percentage of share holding of the concerned State Govt. in Regional Rural Bank ?
(A) 100% (B) 15% (C) 50% (D) 35% (E) 75% (Ans : B)
34. In Limited Liability Partnership (LLP) what is the extent of liability of a partner?
(A) Liability of Partners is jointly and several (B) Other than those given as options
(C) Each partner is fully liable (D) Limited to the extent of his share holding
(E) Each partner is liable not only to the extent of his share but also to the share of other partners in case of any shortfall (Ans : D)
35. The 2014 Urban Mobility India (UMI) conference was recently held in–
(A) Bengaluru (B) Navi Mumbai (C) Ahmedabad (D) New Delhi (E) Chandigarh (Ans : D)
36. Many times we read about SEZ in Newspapers/Magazines. What is the full form of SEZ ?
(A) Socio Economic Zone (B) Special Economic Zone (C) Small Economic Zone
(D) Special Enforcement Zone (E) Service and Economic Zone (Ans : B)
37. What is the capital of Iraq?
(A) Baghdad (B) Turkey (C) Istanbul (D) Kirkuk (E) Zakho (Ans : A)
38. What is the full form of PDA?
(A) Personal Digital Assistant (B) Personal Digital Assist (C) Professional Digital Assist
(D) Professional Digital Association (E) Personal Digital Assessment (Ans : A)
39. Gilt-edged market means–
(A) bullion market (B) market of government securities (C) market of guns
(D) market of pure metals (E) market of finance (Ans : B)
40. 'Cinepolis' which has a presence of 110 screens in India is reported to have acquired the chain fun cinemas of the essel group (93 screens). 'Cinepolis' is a–
(A) Chinese Multiplex Chain (B) Indian Multiplex Chain (C) Russian Multiplex Chain
(D) French Multiplex Chain (E) Mexican Multiplex Chain (Ans : E)
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