Current Affairs Current Affairs - 21 January 2016 - Vikalp Education

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Current Affairs - 21 January 2016

General Affairs 

Enough Provisions To Handle Centre-State Dispute, Says Rajnath Singh
  • Enough Provisions To Handle Centre-State Dispute, Says Rajnath SinghNEW DELHI:  The Constitution elaborately defines power distribution between the Centre and state governments, providing enough space for both, and there are suitable mechanisms to resolve disputes, if any, among them, Home Minister Rajnath Singh said today.

    Addressing a conference on 'Cooperative Federalism: National Perspectives and International Experience', Mr Singh said the Constitution provides for an inter-dependent arrangement, where the Centre and the states collectively aspire and work towards the welfare of the people.

    "Centre-State or inter-state issues, if any, are resolved by various mechanisms put in place including inter- governmental agencies and fora like inter-state council, zonal councils, National Development Council, NITI Aayog, Governors' conference and Chief Ministers' conference," he said.

    The Home Minister said all these, as integral part of the government machinery, are playing a vital role in the harmonious working of a federal structure.

    Both the Sarkaria Commission and the National Commission to Review the Working of the Constitution (NCRWC) have laid considerable emphasis on the issue of Union-State relations, he said.

    Mr Singh said the conference aims at enriching the national pursuit for cooperative federalism with successful case studies practised in other parts of the world.

    The Home Minister said India has unity in diversity which is duly substantiated by successful running of its cohesive federal structure.

    "Federalism is not new to India. Though in its primitive form, ancient kingdoms and empires had established this system in order to rule vast tracts under their jurisdiction," he said.

    Mr Singh said framers of the Constitution, blending the best features of all important types of federation, gave India a 'union model of federalism'.

    The Home Minister said the central government has taken some important policy initiatives to strengthen the spirit of cooperative federalism.

    "Foremost is the increase in the share of divisible tax-pool from 32 per cent to 42 per cent as per recommendation of the 14th Finance Commission," he said.

    The Home Minister said the central government has also raised the non-statutory share from 21 per cent to 26 per cent and about 57.6 per cent of the gross tax receipts are to be transferred to the states.

    These imply that more than half of the total receipts (including non-tax receipts) of the central government will be transferred to the states.

    The larger transfers to the states are accompanied by the significant reduction in the central schemes, and rationalisation of remaining schemes to give greater flexibility and control to the states, he said.

    Mr Singh said another policy initiative is the establishment of the National Institution for Transforming India (NITI) Aayog.

    By inclusion of the Chief Ministers of the states, and their regular interactions with the Union government for policy formulation, would help facilitate better Union-State policy coordination and coherence in formulation and design of schemes.

    The Home Minister said another policy initiative is the urgency placed by the current government for implementing GST (Goods and Services Tax).

    It will have far reaching implications and will help unify the whole country as a market and lead to uniformity in taxes on goods and services.

    Besides, the successful completion of all Zonal Council meetings including meeting of Chief Ministers of the North Eastern Region in 2015 and reconstitution of the Inter-State Council in December, 2015 are instances which buttress my claim about this government's abiding faith in cooperative federalism, he said.

    The Home Minister said for a stronger and greater India, the Centre and states have to work together. The realisation of the goal of faster economic growth coupled with distributive justice is not possible unless everyone works together in a spirit of cooperation.

    "For this the road map has to be laid out and we need to strengthen the institutions and mechanisms that will enable better Centre-State relations," he said.

Rahul Gandhi Dividing Society Over Hyderabad Student's Suicide: Union Minister
  • Student Suicide: Jagan Mohan Reddy Demands Action Against Vice ChancellorRAMPUR, UTTAR PRADESH:  Union Minister Mukhtar Abbas Naqvi today accused Congress Vice President Rahul Gandhi of trying to "create gulf" in the society over the alleged suicide of a Dalit scholar at Hyderabad Central University and said no minister is going to resign.

    The Union Minister of State for Minorities Welfare also said that Mr Gandhi was "politicising" the student's death.

    Mr Naqvi slammed the Congress leader for trying to "create gulf in the society" on the pretext of the suicide of the scholar when a probe was already in progress.

    "It is most unfortunate to generate storms for political gains and that too by a pivot of the political outfit which was thrown out of power by almost the entire nation," he said.

    "No minister is going to resign as the hue and cry being generated by disappointed opposition politician (Rahul) was a proof of immense intolerance, and an undesired attempt to divide the society on the basis of casteism and communalism," Mr Naqvi added.

    Congress vice president and his associates by adopting "cheap politics have an inclination to create hurdles in the development programs launched by National Democratic Alliance government as they have done in recent session of Parliament," the union minister said.

    Rohith Vemula, who committed suicide on Sunday night, was among the five research scholars who were suspended by Hyderabad Central University in August last year and also one of the accused in the case of assault on a student leader.

    They were also kept out of the hostel.

    The minister also clarified on the demand for minority status for Aligarh Muslim Universitysaying, "AMU is a central institution and the matter in this regard was pending in the court hence raising the issue on various forums by different forces was beyond reason and against the spirit of the law."

    He stated that there were 12,000 registered minority institutions in India and out of that 2600 alone were in UP while double of the said figure existed as unregistered institutions and, protection and assistance as per constitutional provisions was being provided for the welfare of the minority communities.

Rahul Gandhi, Tamil Nadu Congress Leaders Discuss Alliance With DMK
  • Rahul Gandhi, Tamil Nadu Congress Leaders Discuss Alliance With DMKNEW DELHI:  Congress vice president Rahul Gandhi today held deliberations with Congress leaders from Tamil Nadu on the strategy to be adopted in the poll-bound state where the issue of forging an alliance holds the key to prospects of the party.

    "Everyone gave ideas and opinions to the leadership on how to face the elections," TNCC chief EVKS Elangovan after the parleys with the Congress vice president.

    Congress had contested the last Lok Sabha elections on its own and had drawn a blank. It had contested the last Assembly elections along with DMK but secured just five seats. Assembly strength in the state is 234.

    Talking to PTI, Mr Elangovan refused to elaborate on the stand of the state unit on the alliance issue, insisting that it was for the party high command to decide whether the Congress should fight as part of a tie-up with other like-minded parties or go it alone.

    Several former PCC chiefs and former ministers were present in the consultations.

    Only last month, DMK chief M Karunanidhi had said that Congress would be invited to join the alliance led by his outfit for the upcoming Assembly elections in Tamil Nadu.

    Mr Karunanidhi's statement had come nearly three years after snapping ties with Congress.

    "We will not exclude Congress while inviting alliance parties (to join the DMK-led alliance)," he had said when the New Year was about to ring in. He was responding to queries if his party would invite Congress like it had reached out to DMDK.

    In July last year, DMK treasurer MK Stalin and Mr Elangovan had said the two parties would "work together" to protect the interest of the people of Tamil Nadu, in particular the oppressed sections.

    DMK had in early 2013 snapped ties with Congress over the Sri Lankan Tamils issue.

    The rupture had also come against the backdrop of the arrests of former Union minister A Raja and Mr Karunanidhi's daughter Kanimozhi, Rajya Sabha member, in the alleged spectrum allocation scam.

    Congress is out of power in the key southern state for nearly five decades and has generally been aligning with either of the Dravidian party- DMK or AIADMK. Sometimes, it had contested alone too but without much success.

Congress Politicising Dalit Student's Suicide, Alleges Venkaiah Naidu
  • Congress Politicising Dalit Student's Suicide, Alleges Venkaiah NaiduMANGALURU:  Union Minister M Venkaiah Naidu today alleged Congress is indulging in "cheap politics" over the suicide of a Dalit research scholar at Hyderabad University for which an FIR had been registered against Union Labour Minister Bandaru Dattatreya.

    "Congress is engaging in cheap politics," he told reporters at the international airport in Mangaluru on his way to Uppala in Kasaragod district of Kerala to flag off BJP's Kerala march.

    He said nine Dalit students had committed suicide at the university when the UPA government was in power and nobody was talking about it now.

    Mr Naidu alleged that Congress was always trying to delay and disrupt the central government's development projects.

    "The Opposition is following a 4D policy of disruption, diversion, delay and defamation," he said, adding that their only aim was to "defame" Prime Minister Narendra Modi.

    The NDA government had solved issues relating to fiscal deficit and current account deficit and World Bank and IMF had commended the economic growth of the country, he said.

Barack Obama Faces Immigration Hurdles Even If He Wins At High Court
  • Barack Obama Faces Immigration Hurdles Even If He Wins At High CourtWASHINGTON:  If the U.S. Supreme Court endorses a key immigration initiative of President Barack Obama protecting more than 4 million illegal immigrants from deportation, his administration could face a surge of applicants and little time to process them before he leaves office in January 2017.

    Obama announced the action in November 2014 but it has never gone into effect, being put on hold by a federal judge in Texas in February 2015. The plan was designed to help illegal immigrant parents of children who are U.S. citizens or lawful permanent residents. It would protect them from deportation and give them work authorization.

    The Supreme Court on Tuesday said it would decide whether Obama acted lawfully in creating the program by executive order, bypassing a gridlocked Congress. If Obama wins when the court rules by the end of June, his administration would have just seven months to implement the program.

    Obama's victory could be short-lived because the next president, set to be elected in November, would have the final say on whether to keep the program in place.

    Democrats including presidential front-runner Hillary Clinton have embraced Obama's plan. Republican presidential candidates including businessman Donald Trump and Texas Senator Ted Cruz have assailed it. Cruz said on Tuesday if elected he would rescind Obama's order on the first day of his presidency.

    An earlier immigration program that gave similar relief to children of illegal immigrants who grew up in the United States showed that such policies take time to implement. Launched in June 2012, it took two months to put in place.

    After that, there were almost 408,000 applications in the first six months of the program, according to government numbers. By January 2013, only 154,000 applications had been approved. More than 700,000 people have since benefited from the program.

    The government has been able to do nothing to prepare while Obama's executive action has been on hold. In the injunction that halted the plan, U.S. District Judge Andrew Hanen specifically said the administration was barred from "implementing any and all aspects or phases" of the program.

    A Department of Homeland Security spokeswoman said the federal government is complying with the injunction.

    Immigration advocates said they are preparing for a new effort to educate potential applicants about the program. They forecast much higher numbers than those who applied to the earlier 2012 program, largely because many more are eligible.

    "There is no way the administration can process the projected volume of people that would be eligible," said Gregory Chen, director of advocacy for the American Immigration Lawyers Association.

    The new program is likely to present additional bureaucratic problems, legal experts say, in part due to the larger pool of eligible people but also because of the specific nature of the applicants. Both programs require proof of continued residency in the United States.

Business Affairs 

Sensex gives up Modi momentum, ends 417 pts down; Nifty at 7309 on weak global cues
  • Sensex tumbles over 400 points, Nifty tests 7,300 on global routSnapping the rare gains of previous session, the S&P BSE Sensex ended the day 417 points lower after tumbling as much as 640.08 points on Wednesday to fall below its crucial psychological level of 24,000, while broader CNX Nifty breached its key 7,250-mark in intraday trade, but ended above 7,300 level. 
    The benchmark indices dropped to their lowest levels since May 16, 2014, the same day when PM Narendra Modi won general elections 2014, with absolute majority seats, while the rupee slumped to 2013 crisis levels on increasing concerns the country will be hit hard by the growing turmoil in global markets.
    Market breadth turned substantially negative with only three of the 30 Sensex components ending the day in green.
    The falling spree on Dalal Street reflect investor worries over slumping crude prices and volatility in China's markets that continue to trigger concerns about the health of the global economy.
    The Sensex fell 2.36 per cent, slipping below 24,000, to its lowest since May 16, 2014, a day when poll results declared Prime Minister Narendra Modi's National Democratic Alliance victorious in a landslide national election. The 30-share index ended 417.80 points down at 24,062.04.
    The broader Nifty fell as much as 2.39 per cent below the key 7,300 level, its lowest since June 2, 2014. The 50-share index settled at 7,309.30, down 125.80 points.
    Rupee dropped to as low as 68.12 per dollar, its weakest since September 4, 2013 and not far from a record low of 68.85 hit in August of the same year.
    Foreign investors have sold a net around 6400 crore worth debt and equities so far this month, a third straight month of outflows.
    "I don't think there's too much pain ahead. A pullback is expected from these levels. I think too much bearishness has been factored in," said Ashtosh Raina, head of FX trading at HDFC Bank
    "The FII outflows are not that big to warrant such a fall. And the RBI is there to stem the flow because they are well equipped to handle and won't let it go out of hand," Raina said.
    Meanwhile, IMF's World Economic Outlook report said global growth for this year is seen at 3.4 per cent, up from a 3.1 per cent forecast for 2015, but 0.2 per cent lower than previously forecast. This is for the third time that IMF has cut world growth forecast in less than a year.
    The growth rate, released by China's the National Bureau of Statistics (NBS) on Tuesday showed for the first time in 25 years, China's economy grew at its slowest pace at 6.9 per cent in 2015. 
    Among Asian markets, China's Shanghai Composite ended 1.03 per cent lower, while Hong Kong's Hang Seng index hit 6-year low to end below 19,000 level. Japan's Nikkei fell 3.71 per cent.
    Overnight, US markets ended flat after a choppy session as falling oil prices led to more carnage in energy stocks. Dow futures are also trading over 150 points lower indicating another weak session on Wednesday.

Rupee falls below 68 level amid weak equities
  • Rupee falls below 68 level amid weak equitiesThe rupee fell to a more than two-year low on Wednesday, inching closer to a record low of 68.85 hit in August 2013, as a continued fall in global oil prices raised concerns about the global economy.
    The rupee fell to 68 per dollar, its weakest level since September 4, 2013, but pulled back as state-owned banks were spotted selling dollars likely on behalf of the Reserve Bank of India, three dealers told Reuters.
    The rupee had hit a record low of 68.85 in August 2013, when the country was in the midst of its worst currency turmoil since the balance of payment crisis.
    At 11:22 am, the rupee was trading at 67.9725/9800, compared with Tuesday's close of 67.6450/67.6550.

India start-ups at risk as investors close taps, Modi fund falls short
  • India start-ups at risk as investors close tapsAfter pumping billions of dollars into Indian Internet start-ups in the last 24 months, global investors are cutting that flood back to a trickle as dreams of huge online sales are clouded by soaring valuations and still-distant profits.
    Even as Prime Minister Narendra Modi lines up a four-year, $1.5 billion government fund to help startups create jobs, entrepreneurs fear that may prove a drop in the ocean. Venture capitalists have already tightened purse strings as ripples from China's economic slowdown lap around the world.
    According to a new report by CB Insights and KPMG, venture capital investments in India's start-ups nearly halved to $1.5 billion in fourth-quarter 2015 from July-September. Faltering start-ups could mean India missing out on huge potential: Bank of America Merrill Lynch has forecast Indian e-commerce will surge to $220 billion by 2025 from about $11 billion last year.
    "While the first phase of funding was about investing in big investors want to look at how entrepreneurs manage their business and compete while investing," said Niren Shah, India head of Norwest Venture Partners.
    Modi's plan for newly launched companies includes tax breaks on their first three years of profits, as well as their investors.
    But most of India's tech startups make losses, not profits. They follow a discount-driven business model aimed at generating revenue from customers that buy and sell goods and services, touting growth in 'gross merchandise value' on their platforms as a metric to attract funding.
    Two of the country's best known e-commerce retailers -Flipkart and Snapdeal - have attracted big-name backers like Accel Partners, Singapore state investor Temasek Holdings and Japan's SoftBank Group Corp, enthused by growth potential in a country where only 252 million of a population of 1.3 billion people have Internet access.
    Yet the pair have notched up huge losses as they compete for increasing sales through deep discounts, according to banking and industry sources. Flipkart and Snapdeal did not immediately respond to Reuters' emails seeking comment.
    "In the last few years, people were looking at gross merchandise value (when considering investment)," said Radhika Aggarwal, co-founder and chief business officer of online marketplace "I think that changed very quickly in the second half of last year," she said. raised funds last week from investors including Singapore sovereign wealth fund GIC and Tiger Global that valued the firm at more than $1.1 billion - helped by detailing plans to hit profitability by the first half of next year, Aggarwal said.
    In early warning signs for the country's start-up industry, firms from food delivery companies TinyOwl and Foodpanda to SoftBank-backed property firm have either cut jobs or shrunk their services. At TinyOwl, last November around 20 employees even held their boss hostage for two days after it announced job cuts.
    "We are in the middle of this funding winter and global issues such as a slowdown in China could likely have a bigger impact this year," said Vijay Shekhar Sharma, founder of mobile wallet Paytm, backed by Alibaba Group Holding Ltd.

Uber could double investment in India if returns are good, says CEO
  • Uber could double investment in India: CEOUber could double its current committed investment of $1 billion in India if it sees more than five times the return, its co-founder and chief executive Travis Kalanick said on Tuesday.
    "If we see five times the return on our spending, we would spend $2 billion instead of $1 billion that we have committed to spending on the India business," Kalanick said, addressing aspiring entrepreneurs at the IIT Bombay campus. "The economy in India has really been flourishing in a big way in the last decade. I expect so much of big growth ahead, and at a scale. By 2020 there will be 1 billion smartphone users here, and I'm excited about that," he said.
    In January this year, Uber has a marketshare of about 40 per cent (in India), from 4 per cent in January last year. "In three of the top five cities here, more than 50 per cent of citizens prefer Uber," he added. "When Uber came to India three years ago, lack of financial instruments was the biggest challenge, people didn't have cards, there weren't enough cars, or smartphone users," he said. "But all that is changing so fast," he said.
    Kalanick sees India and especially Bengaluru as a top research and innovation hub. "I've been to many cities and I always refer to the three 'bays'. The Bay Area, Beijing and Bengaluru, that will be in the forefront. The start-up ecosystem in the country has grown up in the last 10 years, and the funding environment has gone global," he said, adding, "we now have global investors whose main thing is to invest in India."
    Speaking about deep discounting practises followed by many e-commerce companies, he said that subsidies and large burning of cash is a Chinese invention. "It's a pretty interesting innovation that I had to learn about, I know how to build profitable businesses but China is fiercely competitive. In some ways India is going that way. In order to compete, you have to do it, but I make sure that I spend my investments more efficiently. I don't have to spend money if there is no return on investment on it. One of Uber's top cultural values was to always be hustling, and it roughly translates to jugaad in India," he said. "We follow the always be jugaad-ing model here....On a serious note, it's about making it work with limited resources," he said.

JSW Energy says expects a power plant deal by February
  • JSW Energy says expects a power plant deal by FebruaryJSW Energy said on Wednesday it expected to announce a deal by February to buy a thermal power plant as discussions continue for two such plants.
    JSW Energy is doing due diligence for Jaiprakash Power Ventures Ltd's Bina thermal power plant in central India, and Monnet Ispat and Energy Ltd's power plant in eastern India.
    "We expect to give some news very shortly on one of them by next month," JSW Energy Chief Executive Officer Sanjay Sagar told reporters on Wednesday as the company reported a 15.5 per cent fall in third-quarter net profit.
    A deal will take JSW Energy's total power production capacity to more than 5,000 megawatt but will also increase its debt burden.
    The company's current net debt of Rs 155 billion  ($2.3 billion), or a debt to equity ratio of 1.8, was "comfortable", said finance chief Pramod Menon, although it may need to raise fresh capital after an acquisition.

General Awareness


    • 1. The Reserve Bank's affairs are governed by a central board of directors. The board is appointed
      by the Government of India in keeping with the Reserve Bank of India Act. It is Appointed/ nominated for a period of....
      a) 6 years
      b) 5 years
      c) 4 years
      d) 3 years
      e) 2 years

      2. As per SEBI guidelines, in a Book Building process the cap in the price band
      a) should be at least 10 per cent of the floor price
      b) should not be more than 20 per cent of the floor price
      c) should not be more than 30 per cent of the floor price
      d) no limits
      e) none

      3. _______ is a short term security (7 days to 365 days) issued by a corporate entity (other than a bank), at a discount to the face value?
      a) Commercial Paper
      b) Certificate of Deposit
      c) Non-convertible Debenture
      d) Treasury Bill
      e) None of the above

      4. Who is the chairman of NITI Ayog ?
      a) Narendra Modi
      b) Arvind Pangaria
      c) Mangu Singh
      d) Anupam Srivastava
      e) Ashok Kumar Roy

      5. The Nai Manzil Scheme is designed as an integrated education and training programme that provides youth from minority communities skills needed for different tasks in a rapidly changing world. It also provides them trade related training in which of the following areas:
      a) Manufacturing
      b) Engineering
      c) Services
      d) Soft skills
      e) All the above

      6. Indian Financial Network [INFINET] is the...
      a) Communication backbone for the Indian Banking and Financial sector
      b) Association of the employers of the banking and financial sector
      c) Closed user group network of SBI and its subsidiaries
      d) All of the above
      e) None of the above

      7. In Mutual Funds, A close ended fund means:
      a) The corpus is of fixed size with a definite redemption period
      b) Listing on stock exchanges provides easy liquidity
      c) The market price is always below the Net Asset Value
      d) All of the above
      e) None of the above

      8. Which of the following is correct statement in respect of debit cards
      a) Debit card facility is provided to those having savings bank account/current account holders
      b) This facility is not extended to cash credit/loan account holders
      c) It is an unsecured credit facility
      d) Debit card is issued to all the persons who visit the branch
      e) a and b

      9. In the term IPO, what do you mean by "P"?
      a) Provisions
      b) Public
      c) Private
      d) Prudent
      e) Pension

      10. The Overall Priority Sector Lending Target to be increased to _______ by Foreign Bank with
      more than 20 Branches by 2018?
      a) 60 percent of adjusted Net Bank Credit
      b) 40 percent of Adjusted Net Bank Credit
      c) 32 percent of adjusted Net Bank Credit
      d) 25 percent of adjusted Net Bank Credit
      e) 30 percent of adjusted Net Bank Credit

      11. When it comes to scheduled commercial banks, which out of the following is not true?
      a) Nationalised banks
      b) Regional Rural banks
      c) Foreign banks
      d) Private sector banks
      e) Local area banks

      12. Which amongst the following is called as mother of deposits?
      a) Current account
      b) Fixed deposit
      c) Recurring deposit
      d) Savings bank
      e) Reinvestment deposit

      13. "Micro Finance" is a ______ of banking services?
      a) Introduction stage
      b) Saturation stage
      c) Research stage
      d) Decline stage
      e) None of the Above

      14. Which amongst the following is not term deposits issued by commercial banks?
      a) Current account
      b) Fixed deposit
      c) Recurring deposit
      d) Reinvestment deposit
      e) All the above

      15. What is the main purpose of Open market operations?
      a) A fiscal device which assists Government borrowing
      b) A monetary measure to regulate quantity of money in circulation and the cash reserves of the commercial banks
      c) A measure to counteract extreme trends in business
      d) A measure to influence the balance of payments position
      e) None of the above

      16. What is the full form of MSME?
      a) Mini, Small and Medium Enterprises
      b) Micro, Small and Medium Enterprises
      c) Mini scale Marketing Enterprises
      d) Medium Scale Marketing Enterprises
      e) None of the above

      17. A customer is required to maintain adequate balances in his/her accounts in order to use his ____ card in the merchant establishments?
      a) Smart Card
      b) Credit Card
      c) Add-on Credit card
      d) Debit Card
      e) None of the above

      18. Which of the following are the latest guidelines issued by the RBI in respect of opening new
      branches in villages?
      a) To open more brick and mortar branches in villages where there are no banking facilities
      and population is more than 5,000.
      b) Banks to submit a roadmap on how many branches they will be opening by 31 March 2017.
      c) The roadmap by end of January 2016.
      d) BCBF Model to be discontinued
      e) Only a, b, c

      19. Name the financial instrument which is/are issued for short term (up to one year) borrowing by
      RBI on behalf of the Government of India?
      a) Treasury Bills
      b) Commercial Paper
      c) Certificate of Deposit
      d) Non-convertible Debenture
      e) Only b & c

      20. KYC (Know Your Customer) norms were implemented in the Indian banking system in 2002 as per the directive of ?
      a) SEBI
      b) RBI
      c) IBA
      d) IRDA
      e) None of these

      21. Often, we read in the newspapers that several Indian companies are taking the FCCB route to raise capital. What does the term FCCB stand for?
      a) Foreign Currency Convertible Bond
      b) Foreign Convertible Credit Bond
      c) Financial Consortium and Credit Bureau
      d) Future Credit and Currency Bureau
      e) None of these

      22. ATM cards are issued to a person who maintains any of following accounts with the bank
      a) saving bank account
      b) current accounts
      c) term deposits
      d) loan or cash credit accounts
      e) either a or b

      23. A commercial paper is
      a) A paper issued by Reserve Bank of India an trade and commerce
      b) An unsecured money market instrument issued in the form of promissory note
      c) A document issued by IDBI for seeking refinance facility from Reserve Bank India
      d) All of the above
      e) None of the above

      24. Which of the following would fall under the category of retail banking?
      a) Home Loans
      b) Credit Cards
      c) Personal Loans
      d) Car Loans
      e) All of these

      25. Who decides how much quantity of the coins to be minted?
      a) Reserve Bank of India
      b) Central Government
      c) Finance Ministry
      d) Both RBI and Central Government decide
      e) None of the above

      26. What are the components of Foreign Exchange Reserves?
      a) Foreign currency assets,
      b) Gold,
      c) Special Drawing Rights
      d) Reserve Position in the IMF
      e) All the above

      27. The chairman of Regional Rural Bank is appointed by _____?
      a) State Government
      b) Reserve Bank of India
      c) Central Government
      d) Sponsoring bank in consultation with NABARD
      e) None of the above

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

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