General Affairs
'India Exports Software, Pakistan Exports Terror,' Says PM Modi At BJP Meet
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KOZHIKODE: PM Modi at BJP meet in Kerala, addressed the people of Pakistan directly, accusing their leaders of exporting global terrorism. Delivering a strong message to the nation, PM said India will never forget the Uri attack and that the sacrifice of our 18 soldiers will not go in vain.
Here are the highlights from his first speech since the Uri attack:
PM Modi on Pakistan:
- Today I am speaking to the people Pakistan directly.
- From the leaders who read speeches written by terrorists, the world can expect nothing. But I want to speak to the people of Pakistan directly.
- I want to remind Pakistan, before 1947, your ancestors used to consider undivided India their land, worshipped it. And in their memory I want to tell you something.
- The people of Pakistan please ask your leaders, you have PoK. You cannot manage it.
- Bangladesh used to be yours, you couldn't manage it. You cannot manage Gilgit, Baltistan, Pakhtun, Balochistan, Sindh...and you are talking about Kashmir.
- People of Pakistan must ask their leaders to first give secure lives to their citizens.
- People of Pakistan ask your leaders, Both our countries got freedom together. Why does India export software and your country export terrorists?
- I want to tell the people of Pakistan to confuse you, your leaders have worked for ages. I am ready to face that challenge.
- I want to tell the people, If you have what it takes, lets compete to end poverty in our countries.
- Lets see who gets there first. People of Pakistan and India will like this competition.
- Youth of Pakistan, come lets fight. Lets see who ends unemployment first - India or Pakistan.
- Lets fight against illiteracy. Newborns, pregnant mothers die in both India and Pakistan. Lets see who can save them first.
- And leaders of Pakistan hear this. The sacrifice of 18 of our soldiers will not go in vain.
- India has succeeded in isolating you in the world. We will ramp it up and force you live alone in the world.
- That day is not far when people of Pakistan will get in the fray to fight against their leaders and terrorists.
- My dear countrymen, the future of our nation is connected to peace and good thoughts.
- Our country wins when we stand together, say in one voice, have one resolution.
- Today 1.25 billion Indians are ready to pay any price for our pride and peace. That's why I see a glorious future for India.
- My dear countrymen, on Deen Dayal Upadhyay's birth anniversary we have decided to re-dedicate ourselves to work for the poor.
- In the 21st century, our goal should be that India should be free from poverty, full of prosperity.
- India should aim to be- Free from injustice, land of justice, Free from filth, land of cleanliness, free from corruption, land of transparency, free from unemployment, land of employment.
- India should be- Free from crimes against women, land of dignity for women, free from disappointment, land of hope.
- On Deen Dayal Upadhyay's birth anniversary let these be our guiding goals.
PM Modi on terrorism:
- We've been hearing it for a while - 21st century is Asia's century. And Asia has all it takes to achieve that.
- But there is one country in Asia that is working towards thwarting that vision.
- It is doing all it can to ensure Asia is bloodied, it is bruised by violence, falls prey to terror.
- Wherever terrorism is happening in Asia, the blame is on one country.
- Not just India, every country in Asia believes this. One country is exporting terror everywhere.
- Afghanistan, Bangladesh, all neighbouring countries and in the world, wherever a terror attack takes place.
- It emerges either the terrorist set out from here, or after the attack, like Osama Bin Laden, took refuge here.
- Brothers and sisters, people of Kerala know what terrorism looks like.
- Kerala's daughters, nurses, were taken away by terrorists. Entire India was tensed.
- But entire Kerala saw, how the government in Delhi returned the daughters of Kerala to their homes.
- Terrorism is enemy of humanity. Humanitarians all over the world have to unite and condemn terror.
- India never has and never will bow down to terror, it will defeat terror.
- The entire country is seeing the effects of terror.
- In Jammu and Kashmir's Uri, 18 soldiers had to sacrifice their lives.
- Let terrorists hear this, India will never forget this.
- In the last few months, 17 times terrorists in groups of 4 or 6 have tried crossing over the border to spread destruction.
- But our brave soldiers thwarted those efforts, they slayed them on the LoC.
- In the last few months, our soldiers have killed 110 terrorists - the highest in recent years.
- Saving the countries from these 17 possible attacks was done by our soldiers, they stood guard and secured our citizens, we are proud of their service, their sacrifice.
- You can imagine, the neighbouring country succeeded in one attack and 17 soldiers had to fall prey.
- If they had succeeded in all 17 incidents what would have happened.
- Our soldiers, our police, all our security forces have won these battles not just because of the weapons. Weapons are toys.
- Soldiers win on confidence, and India's confidence is flying at its highest. This is our strength.
- Leaders of the neighbouring country said will fight 1,000 years, where did they disappear, we cant see them anymore.
- And today's leaders, they read speeches written by terrorists and singing about Kashmir.
PM Modi on BJP Ideology:
- In the last century, India's political life was influenced by three people, Mahatma Gandhi, Deen Dayal Upadhyaya and Ram Manohar Lohia.
- When elected members of the NDA chose me as their leader and when I gave the first speech on the floor of the Parliament, I had said this government is dedicated to the poor.
- This comes from the thinking of Mahatma Gandhi and Deen Dayal Upadhyay. Our directive is based on their ideology.
- And I want to assure BJP workers of Kerala, the service you have given, the injustices you have endured, the sacrifices you have made will not go in vain.
- They will bear fruit and the BJP will herald progress in Kerala.
- Kerala has all the capability to become India's top state.
- The BJP and the Indian government will be ready to all it takes to make this happen.
- India is moving forward with one mantra- Sabka Saath, Sabka Vikas.
- The whole world recognises India to be the world's fastest growing major economy.
Here are the highlights from his first speech since the Uri attack:
PM Modi on Pakistan:
- Today I am speaking to the people Pakistan directly.
- From the leaders who read speeches written by terrorists, the world can expect nothing. But I want to speak to the people of Pakistan directly.
- I want to remind Pakistan, before 1947, your ancestors used to consider undivided India their land, worshipped it. And in their memory I want to tell you something.
- The people of Pakistan please ask your leaders, you have PoK. You cannot manage it.
- Bangladesh used to be yours, you couldn't manage it. You cannot manage Gilgit, Baltistan, Pakhtun, Balochistan, Sindh...and you are talking about Kashmir.
- People of Pakistan must ask their leaders to first give secure lives to their citizens.
- People of Pakistan ask your leaders, Both our countries got freedom together. Why does India export software and your country export terrorists?
- I want to tell the people of Pakistan to confuse you, your leaders have worked for ages. I am ready to face that challenge.
- I want to tell the people, If you have what it takes, lets compete to end poverty in our countries.
- Lets see who gets there first. People of Pakistan and India will like this competition.
- Youth of Pakistan, come lets fight. Lets see who ends unemployment first - India or Pakistan.
- Lets fight against illiteracy. Newborns, pregnant mothers die in both India and Pakistan. Lets see who can save them first.
- And leaders of Pakistan hear this. The sacrifice of 18 of our soldiers will not go in vain.
- India has succeeded in isolating you in the world. We will ramp it up and force you live alone in the world.
- That day is not far when people of Pakistan will get in the fray to fight against their leaders and terrorists.
- My dear countrymen, the future of our nation is connected to peace and good thoughts.
- Our country wins when we stand together, say in one voice, have one resolution.
- Today 1.25 billion Indians are ready to pay any price for our pride and peace. That's why I see a glorious future for India.
- My dear countrymen, on Deen Dayal Upadhyay's birth anniversary we have decided to re-dedicate ourselves to work for the poor.
- In the 21st century, our goal should be that India should be free from poverty, full of prosperity.
- India should aim to be- Free from injustice, land of justice, Free from filth, land of cleanliness, free from corruption, land of transparency, free from unemployment, land of employment.
- India should be- Free from crimes against women, land of dignity for women, free from disappointment, land of hope.
- On Deen Dayal Upadhyay's birth anniversary let these be our guiding goals.
PM Modi on terrorism:
- We've been hearing it for a while - 21st century is Asia's century. And Asia has all it takes to achieve that.
- But there is one country in Asia that is working towards thwarting that vision.
- It is doing all it can to ensure Asia is bloodied, it is bruised by violence, falls prey to terror.
- Wherever terrorism is happening in Asia, the blame is on one country.
- Not just India, every country in Asia believes this. One country is exporting terror everywhere.
- Afghanistan, Bangladesh, all neighbouring countries and in the world, wherever a terror attack takes place.
- It emerges either the terrorist set out from here, or after the attack, like Osama Bin Laden, took refuge here.
- Brothers and sisters, people of Kerala know what terrorism looks like.
- Kerala's daughters, nurses, were taken away by terrorists. Entire India was tensed.
- But entire Kerala saw, how the government in Delhi returned the daughters of Kerala to their homes.
- Terrorism is enemy of humanity. Humanitarians all over the world have to unite and condemn terror.
- India never has and never will bow down to terror, it will defeat terror.
- The entire country is seeing the effects of terror.
- In Jammu and Kashmir's Uri, 18 soldiers had to sacrifice their lives.
- Let terrorists hear this, India will never forget this.
- In the last few months, 17 times terrorists in groups of 4 or 6 have tried crossing over the border to spread destruction.
- But our brave soldiers thwarted those efforts, they slayed them on the LoC.
- In the last few months, our soldiers have killed 110 terrorists - the highest in recent years.
- Saving the countries from these 17 possible attacks was done by our soldiers, they stood guard and secured our citizens, we are proud of their service, their sacrifice.
- You can imagine, the neighbouring country succeeded in one attack and 17 soldiers had to fall prey.
- If they had succeeded in all 17 incidents what would have happened.
- Our soldiers, our police, all our security forces have won these battles not just because of the weapons. Weapons are toys.
- Soldiers win on confidence, and India's confidence is flying at its highest. This is our strength.
- Leaders of the neighbouring country said will fight 1,000 years, where did they disappear, we cant see them anymore.
- And today's leaders, they read speeches written by terrorists and singing about Kashmir.
PM Modi on BJP Ideology:
- In the last century, India's political life was influenced by three people, Mahatma Gandhi, Deen Dayal Upadhyaya and Ram Manohar Lohia.
- When elected members of the NDA chose me as their leader and when I gave the first speech on the floor of the Parliament, I had said this government is dedicated to the poor.
- This comes from the thinking of Mahatma Gandhi and Deen Dayal Upadhyay. Our directive is based on their ideology.
- And I want to assure BJP workers of Kerala, the service you have given, the injustices you have endured, the sacrifices you have made will not go in vain.
- They will bear fruit and the BJP will herald progress in Kerala.
- Kerala has all the capability to become India's top state.
- The BJP and the Indian government will be ready to all it takes to make this happen.
- India is moving forward with one mantra- Sabka Saath, Sabka Vikas.
- The whole world recognises India to be the world's fastest growing major economy.
Countdown Begins For PSLV-C35/SCATSAT-1 Mission
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CHENNAI: Countdown began today for ISRO's Monday launch of SCATSAT-1 for ocean and weather related studies along with seven other satellites, including from the US and Canada.
The 48-and-a-half-hour countddown for PSLV-C35/SCATSAT-1 Mission started at 8:42 AM, the Indian Space Research Organisation (ISRO) said on its website, adding this is the first mission of PSLV in which it will be launching its payloads into two different orbits.
PSLV-C35 will be launched from the First Launch Pad of Satish Dhawan Space Centre SHAR, Sriharikota at 9.12 AM on September 26, it said.
In its 37th flight, India's Polar Satellite Launch Vehicle, PSLV-C35, will launch the 377 kg SCATSAT-1 for ocean and weather related studies and seven co-passenger satellites into Polar Sun Synchronous Orbit (SSO).
The co-passenger satellites are from the US, Canada and Algeria besides from Indian Universities.
While SCATSAT-1 will be placed into a 720 km Polar SSO, the two Academic Institute Satellites and the five foreign satellites will be placed into a 670 km polar orbit, the space agency said.
The 48-and-a-half-hour countddown for PSLV-C35/SCATSAT-1 Mission started at 8:42 AM, the Indian Space Research Organisation (ISRO) said on its website, adding this is the first mission of PSLV in which it will be launching its payloads into two different orbits.
PSLV-C35 will be launched from the First Launch Pad of Satish Dhawan Space Centre SHAR, Sriharikota at 9.12 AM on September 26, it said.
In its 37th flight, India's Polar Satellite Launch Vehicle, PSLV-C35, will launch the 377 kg SCATSAT-1 for ocean and weather related studies and seven co-passenger satellites into Polar Sun Synchronous Orbit (SSO).
The co-passenger satellites are from the US, Canada and Algeria besides from Indian Universities.
While SCATSAT-1 will be placed into a 720 km Polar SSO, the two Academic Institute Satellites and the five foreign satellites will be placed into a 670 km polar orbit, the space agency said.
Bihar Government To Go For Branding Of Khadi Clothes
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PATNA: Chief Minister Nitish Kumar today said the Bihar government would go for branding of finer quality of khadi clothes made in the state to attract the "newer generation" through designer garments made of it.
He said this at a function to mark the 'Rashtriya Charkha Diwas' in Patna in a bid to promote the khadi industry in Bihar.
Proper branding of khadi clothes would raise its demand among the people, the chief minister said, adding that the state Industries department has entered into an agreement with NIFT for "new design" khadi garments.
In a bid to promote the khadi industry in Bihar, the state government would erect a Rs.-17 crore building for it to set up showrooms, he added.
"From October 2, the state government would offer a 10-per cent concession on purchase of khadi clothes," Mr Kumar said.
The state government was making "every effort" to popularise khadi in view of the centenary celebrations of Champaran satyagraha, Mahatma Gandhi's first major agitation against the British, he added.
Industries Minister Jai Kumar Singh and Gandhian Razi Ahmad were present on the occasion among others.
He said this at a function to mark the 'Rashtriya Charkha Diwas' in Patna in a bid to promote the khadi industry in Bihar.
In a bid to promote the khadi industry in Bihar, the state government would erect a Rs.-17 crore building for it to set up showrooms, he added.
"From October 2, the state government would offer a 10-per cent concession on purchase of khadi clothes," Mr Kumar said.
The state government was making "every effort" to popularise khadi in view of the centenary celebrations of Champaran satyagraha, Mahatma Gandhi's first major agitation against the British, he added.
Industries Minister Jai Kumar Singh and Gandhian Razi Ahmad were present on the occasion among others.
'Let's Fight Battle Against Poverty, See Who Wins,' PM's Strong Message To Pakistan
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KOZHIKODE: Prime Minister Narendra Modi said he was directly addressing the people of Pakistan as he sent across a strong message against the "export of terrorism" from that country, vowing that "India will never forget the Uri attack."
In his first public speech since four terrorists sneaked into an army camp in Jammu and Kashmir's Uri and killed 18 soldiers, PM Modi said, "People of Pakistan, we are ready to fight you. Show courage and let's fight poverty and see who eradicates poverty faster. Who wins the fight against unemployment first."
But he also warned, "The sacrifice of our 18 soldiers will not be forgotten. We will ensure that the international community works to isolate you."
India, the Prime Minister said, would not bow to terror. "110 terrorists have been killed by the Indian Army... terrorists have tried to strike 17 times recently, they were successful in one incident," he said.
The two nations, the PM said, got Independence together, but "India exports software, you export terror". There was little the world expected from Pakistan's leaders, who "read speeches written by terrorists," said PM Modi, who was addressing party workers at a BJP meet in Kerala's Kozhikode.
Pakistan's Prime Minister Nawaz Sharif has alleged that India has hastily blamed it for the Uri attack without investigation. But investigators have found that the weapons and food recovered from the four dead terrorists in Uri had Pakistani markings.
Relations between the two countries have plummeted since unrest began in Kashmir following the death of terrorist Burhan Wani in July. India has accused Pakistan of instigating and fuelling violent clashes that have killed 87 people and left over 10,000 injured.
A political resolution expected to be adopted at the BJP meet that the PM is attending, is likely to include the situation in Kashmir and the Uri attack.
In his first public speech since four terrorists sneaked into an army camp in Jammu and Kashmir's Uri and killed 18 soldiers, PM Modi said, "People of Pakistan, we are ready to fight you. Show courage and let's fight poverty and see who eradicates poverty faster. Who wins the fight against unemployment first."
India, the Prime Minister said, would not bow to terror. "110 terrorists have been killed by the Indian Army... terrorists have tried to strike 17 times recently, they were successful in one incident," he said.
The two nations, the PM said, got Independence together, but "India exports software, you export terror". There was little the world expected from Pakistan's leaders, who "read speeches written by terrorists," said PM Modi, who was addressing party workers at a BJP meet in Kerala's Kozhikode.
Pakistan's Prime Minister Nawaz Sharif has alleged that India has hastily blamed it for the Uri attack without investigation. But investigators have found that the weapons and food recovered from the four dead terrorists in Uri had Pakistani markings.
Relations between the two countries have plummeted since unrest began in Kashmir following the death of terrorist Burhan Wani in July. India has accused Pakistan of instigating and fuelling violent clashes that have killed 87 people and left over 10,000 injured.
A political resolution expected to be adopted at the BJP meet that the PM is attending, is likely to include the situation in Kashmir and the Uri attack.
2,000 Km Of Rahul Gandhi's Kisan Yatra, Strung By A Single Note
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LUCKNOW: With its arrival in Lucknow, Congress Vice President Rahul Gandhi's Kisan Yatra, a campaign to drum up support in the hinterlands ahead of the Uttar Pradesh elections next year, has finished its Phase 1.
A carpet of flowers welcomed the 46-year-old as he entered Uttar Pradesh's capital on the 16th day, covering more than 2,000 km, 500 public meetings, 17 'khaat sabhas' and 12 mega road shows.
After addressing two small gatherings, the real action began from central Lucknow's Parivartan Chowk, as his 6 kilometre roadshow started and then went through the Muslim-dominated old Lucknow on Friday. It drew large crowds at some places but moderate one at others.
After days of his yatra in rural or semi-urban areas, where waiving off farmer loans and targeting Prime Minister Narendra Modi were the main issues, there was no change in Rahul Gandhi's script even in urban Lucknow.
"We want that farmer loans should be waived off that's why we are doing this yatra. Have you ever seen Modi shaking hands with a farmer," Mr Gandhi said at various meetings where he spoke briefly.
The Congress leader will now take a two day-break and then start heading towards the western part of the state.
But on the streets of Lucknow, young people like 21-year-old-food delivery entrepreneur Bilal Akhtar, a Rahul Gandhi supporter, listed other issues for the Congress's priority.
"You see for people like us there are lots of problems. There is no ease of doing business. Also this is the capital city but there is no electricity," said Mr Akhtar.
But Rahul Gandhi's constant and almost monotonous messaging to farmers during his yatra found support from 55-year-old Sohan Lal, a farmer on the outskirts of Lucknow, who came all the way to hear him.
"If farmer loans are waived off, then it will benefit us. So he is doing just the right thing," said Mr Lal, who owns three bighas of land.
A carpet of flowers welcomed the 46-year-old as he entered Uttar Pradesh's capital on the 16th day, covering more than 2,000 km, 500 public meetings, 17 'khaat sabhas' and 12 mega road shows.
After days of his yatra in rural or semi-urban areas, where waiving off farmer loans and targeting Prime Minister Narendra Modi were the main issues, there was no change in Rahul Gandhi's script even in urban Lucknow.
"We want that farmer loans should be waived off that's why we are doing this yatra. Have you ever seen Modi shaking hands with a farmer," Mr Gandhi said at various meetings where he spoke briefly.
The Congress leader will now take a two day-break and then start heading towards the western part of the state.
But on the streets of Lucknow, young people like 21-year-old-food delivery entrepreneur Bilal Akhtar, a Rahul Gandhi supporter, listed other issues for the Congress's priority.
"You see for people like us there are lots of problems. There is no ease of doing business. Also this is the capital city but there is no electricity," said Mr Akhtar.
But Rahul Gandhi's constant and almost monotonous messaging to farmers during his yatra found support from 55-year-old Sohan Lal, a farmer on the outskirts of Lucknow, who came all the way to hear him.
"If farmer loans are waived off, then it will benefit us. So he is doing just the right thing," said Mr Lal, who owns three bighas of land.
Business Affairs
GST council fixes exemption limit at Rs 20 lakh, rates to be decided in Oct
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Moving on fast track to roll out the new indirect tax regime from April 1, GST Council today fixed annual turnover limit for exemption at Rs 20 lakh and resolved that all cesses will be subsumed in the GST.
While the next meeting of the Council on September 30 will finalise draft rules on granting exemptions, the GST rate and tax slabs would be decided at its three-day meeting beginning October 17.
At the end of the first meeting, the Council headed by Finance Minister Arun Jaitley decided that the state authorities will have jurisdiction over assessees with annual turnover of less than Rs 1.5 crore.
Those with turnover of over Rs 1.5 crore, Jaitley said there would be cross examination either by officers from the Centre or state to avoid dual control.
However, the power for assessment of 11 lakh service tax assessees who are currently assessed by Centre, would remain with it. New assessees which would be added to the list would be divided between the Centre and states.
Talking to reporters after the meeting, Jaitley said while the annual exemption threshold for levy of GST would be Rs 20 lakh, it would be Rs 10 lakh in the north-eastern and hill states.
"All items including cess would be included in GST," Jaitley said, adding the Council is working on a compensation law and draft compensation formula.
The base year for calculating compensation would be 2015-16 and the formula for payment of compensation would be deliberated between the state and Central authorities.
The officials will give a presentation with regard to the compensation formula which can be adopted at the next meeting of the Council on September 30.
"All decisions today by the GST Council were taken on the basis of consensus," Jaitley said.
Moving on fast track to roll out the new indirect tax regime from April 1, GST Council today fixed annual turnover limit for exemption at Rs 20 lakh and resolved that all cesses will be subsumed in the GST.
While the next meeting of the Council on September 30 will finalise draft rules on granting exemptions, the GST rate and tax slabs would be decided at its three-day meeting beginning October 17.
At the end of the first meeting, the Council headed by Finance Minister Arun Jaitley decided that the state authorities will have jurisdiction over assessees with annual turnover of less than Rs 1.5 crore.
Those with turnover of over Rs 1.5 crore, Jaitley said there would be cross examination either by officers from the Centre or state to avoid dual control.
However, the power for assessment of 11 lakh service tax assessees who are currently assessed by Centre, would remain with it. New assessees which would be added to the list would be divided between the Centre and states.
Talking to reporters after the meeting, Jaitley said while the annual exemption threshold for levy of GST would be Rs 20 lakh, it would be Rs 10 lakh in the north-eastern and hill states.
"All items including cess would be included in GST," Jaitley said, adding the Council is working on a compensation law and draft compensation formula.
The base year for calculating compensation would be 2015-16 and the formula for payment of compensation would be deliberated between the state and Central authorities.
The officials will give a presentation with regard to the compensation formula which can be adopted at the next meeting of the Council on September 30.
"All decisions today by the GST Council were taken on the basis of consensus," Jaitley said.
Kejriwal govt bans Chinese firecrackers for this Diwali
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The Delhi government on Friday resolved to ensure foolproof implementation of the ban on Chinese firecrackers this festive season admitting their sale and use continued in the city despite restrictions.
Kapil Mishra, soon after taking interim charge of the environment department, directed its Secretary to devise a plan and issue an advisory in this regard. Minister Imran Hussain is on Haj pilgrimage.
"Have instructed the Secretary of Environment to ensure a complete ban on Chinese crackers across Delhi. The Chinese firecrackers are said to be unsafe, hazardous to use and have detrimental effects on people's health. Last year's experience says it is in use and available everywhere," Mishra said in a series of twwets.
He said teams will be formed to check Chinese firecrackers illegal trade and keep a tab. The teams will also conduct raids, he said.
"The government will issue an advisory. RWAs (Resident Welfare Associations) and civil society organisations will be assisting the teams during the drives," he said.
Last year, the government had written to the Customs Department to continue to enforce the ban on such firecrackers.
The Centre had issued a public notification in 2014 warning importers and public of the legal consequences if they used such crackers.
Centre had also said it was "illegal" to sell imported crackers (including Chinese crackers) in retail, since there had been no permit given to anyone to import such crackers.
The Delhi government on Friday resolved to ensure foolproof implementation of the ban on Chinese firecrackers this festive season admitting their sale and use continued in the city despite restrictions.
Kapil Mishra, soon after taking interim charge of the environment department, directed its Secretary to devise a plan and issue an advisory in this regard. Minister Imran Hussain is on Haj pilgrimage.
"Have instructed the Secretary of Environment to ensure a complete ban on Chinese crackers across Delhi. The Chinese firecrackers are said to be unsafe, hazardous to use and have detrimental effects on people's health. Last year's experience says it is in use and available everywhere," Mishra said in a series of twwets.
He said teams will be formed to check Chinese firecrackers illegal trade and keep a tab. The teams will also conduct raids, he said.
"The government will issue an advisory. RWAs (Resident Welfare Associations) and civil society organisations will be assisting the teams during the drives," he said.
Last year, the government had written to the Customs Department to continue to enforce the ban on such firecrackers.
The Centre had issued a public notification in 2014 warning importers and public of the legal consequences if they used such crackers.
Centre had also said it was "illegal" to sell imported crackers (including Chinese crackers) in retail, since there had been no permit given to anyone to import such crackers.
Meet six-member RBI Committee which will review your savings and borrowings rates
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Paving the way for a major shift in the interest rate-setting mechanism, the government on Thursday named three members for the new Monetary Policy Committee (MPC) who along with three Reserve Bank of India (RBI) nominees will now review rates with an aim to contain retail inflation within targeted 4 per cent.
The RBI governor Urjit Patel will head the new six-member MPC and will also have the casting vote in case of a tie in the new system.
The government nominees on MPC headed by RBI governor Urjit Patel are Chetan Ghate, professor at the Indian Statistical Institute; Pami Dua, Director Delhi School of Economics and Ravindra H Dholakia, professor at IIM-Ahmedabad.
The Appointments Committee of the Cabinet (ACC) cleared the three eminent experts as members on MPC for a period of four years, a government notice said.
RBI nominees are governor Urjit Patel, deputy governor R Gandhi and Michael Patra, an executive director at the central bank.
Below is the profile of all the six members of the MPC, who will review your savings and borrowings rates:
From government
- Chetan Ghate: Ghate is the professor at the Indian Statistical Institute, whose areas of interest are macroeconomic theory and policy, growth and development, political economy, and open economy macroeconomics. He was also part of a five-member technical advisory committee that provided advice on interest rates to the RBI governor ahead of each policy review.
- Pami Dua: Pami Dua, the Director of the Delhi School of Economics (DSE), is the single woman member of MPC. She is an expert on econometrics and forecasting, and has a doctorate from the London School of Economics. Her research work spreads across different fields like business cycle analysis, macroeconomics, econometrics, and forecasting. She is also the Chairperson of the Agricultural Economics Research Centre (AERC) at the University of Delhi.
- Ravindra H Dholakia: Ravindra Dholakia, a faculty member of Economics at the Indian Institute of Management (IIM), Ahmedabad, has also served as an independent director on the boards of several corporations including Gujarat State Financial Services, Union Bank of India, Air India, and Gujarat State Petroleum Corp. He has about 38 years of experience of teaching Economics to different groups like students, executives, policy makers and senior government officers. He was a regular visiting faculty to teach at the European Management Institute (ESCP-EAP), Paris from 2002 to 2005.
From Reserve Bank of India
- Urjit Patel: Urjit Patel, the new RBI governor, took over from Raghuram Rajan on September 04. As deputy RBI governor, Patel has closely worked with Rajan and possesses sound expertise on macroeconomic management. They both have earlier worked together in the IMF in Washington. On his first day at work, Rajan had appointed a committee under Patel to relook at the monetary policy-making. The committee came up with a report advocating a shift to making RBI an inflation-targeting central bank. Patel's path-breaking report has helped India join the league of developed nations where adoption of flexible inflation targeting has helped anchor inflationary expectations and brought about a structural control over inflation.
- Michael Patra: Patra has been an Executive Director at RBI since October 2014. He serves as a Director of Export-Import Bank of India. He also holds the departments of economic and policy research and monetary policy. Patra has a doctorate in economics from India's top technology institute and undertook post-doctoral research in financial stability at Harvard University In 2010.
- Rama Subramaniam Gandhi: RS Gandhi, the Deputy Governor of the RBI, was appointed in 2014 after a protracted period of uncertainty and controversy following the retirement of Anand Sinha whom he succeeded at office. Gandhi joined Reserve Bank of India in 1980. He worked in diverse areas including currency management and information technology and was also the Executive Assistant to the RBI Governor for more than three years. He had a brief stint at the Securities Exchange Board of India (SEBI) as well. His seminal contribution has been in the field of regulation of OTC Derivative Markets in India and Liquidity Support to Government Securities Market.
Paving the way for a major shift in the interest rate-setting mechanism, the government on Thursday named three members for the new Monetary Policy Committee (MPC) who along with three Reserve Bank of India (RBI) nominees will now review rates with an aim to contain retail inflation within targeted 4 per cent.
The RBI governor Urjit Patel will head the new six-member MPC and will also have the casting vote in case of a tie in the new system.
The government nominees on MPC headed by RBI governor Urjit Patel are Chetan Ghate, professor at the Indian Statistical Institute; Pami Dua, Director Delhi School of Economics and Ravindra H Dholakia, professor at IIM-Ahmedabad.
The Appointments Committee of the Cabinet (ACC) cleared the three eminent experts as members on MPC for a period of four years, a government notice said.
RBI nominees are governor Urjit Patel, deputy governor R Gandhi and Michael Patra, an executive director at the central bank.
Below is the profile of all the six members of the MPC, who will review your savings and borrowings rates:
From government
- Chetan Ghate: Ghate is the professor at the Indian Statistical Institute, whose areas of interest are macroeconomic theory and policy, growth and development, political economy, and open economy macroeconomics. He was also part of a five-member technical advisory committee that provided advice on interest rates to the RBI governor ahead of each policy review.
- Pami Dua: Pami Dua, the Director of the Delhi School of Economics (DSE), is the single woman member of MPC. She is an expert on econometrics and forecasting, and has a doctorate from the London School of Economics. Her research work spreads across different fields like business cycle analysis, macroeconomics, econometrics, and forecasting. She is also the Chairperson of the Agricultural Economics Research Centre (AERC) at the University of Delhi.
- Ravindra H Dholakia: Ravindra Dholakia, a faculty member of Economics at the Indian Institute of Management (IIM), Ahmedabad, has also served as an independent director on the boards of several corporations including Gujarat State Financial Services, Union Bank of India, Air India, and Gujarat State Petroleum Corp. He has about 38 years of experience of teaching Economics to different groups like students, executives, policy makers and senior government officers. He was a regular visiting faculty to teach at the European Management Institute (ESCP-EAP), Paris from 2002 to 2005.
From Reserve Bank of India
- Urjit Patel: Urjit Patel, the new RBI governor, took over from Raghuram Rajan on September 04. As deputy RBI governor, Patel has closely worked with Rajan and possesses sound expertise on macroeconomic management. They both have earlier worked together in the IMF in Washington. On his first day at work, Rajan had appointed a committee under Patel to relook at the monetary policy-making. The committee came up with a report advocating a shift to making RBI an inflation-targeting central bank. Patel's path-breaking report has helped India join the league of developed nations where adoption of flexible inflation targeting has helped anchor inflationary expectations and brought about a structural control over inflation.
- Michael Patra: Patra has been an Executive Director at RBI since October 2014. He serves as a Director of Export-Import Bank of India. He also holds the departments of economic and policy research and monetary policy. Patra has a doctorate in economics from India's top technology institute and undertook post-doctoral research in financial stability at Harvard University In 2010.
- Rama Subramaniam Gandhi: RS Gandhi, the Deputy Governor of the RBI, was appointed in 2014 after a protracted period of uncertainty and controversy following the retirement of Anand Sinha whom he succeeded at office. Gandhi joined Reserve Bank of India in 1980. He worked in diverse areas including currency management and information technology and was also the Executive Assistant to the RBI Governor for more than three years. He had a brief stint at the Securities Exchange Board of India (SEBI) as well. His seminal contribution has been in the field of regulation of OTC Derivative Markets in India and Liquidity Support to Government Securities Market.
Reliance Jio to receive 230% additional capacity from Idea Cellular
-
With Trai keeping a tab on the point of inter-connect (PoI) issue between incumbent operators and Reliance Jio, Idea Cellular on Friday said it has agreed to provide 230 per cent additional capacity to the new entrant.
Over 2,100 ports will now be available for traffic between Idea and Jio allowing sufficient buffer for future, Idea said adding that it will "continue to engage and expand capacity for the new operator to allow seamless traffic flow between the networks".
Coming just days after Trai warned operators of action in case of service quality violation arising out of insufficient inter-connectivity points, the statement issued by Idea said quality of service for its customers is a "top priority".
"Idea Cellular recently invited Jio for a discussion to mutually resolve the traffic asymmetry. As quality of service for its customers is top priority, Idea has agreed to further enhance capacity in both access and long-distance inter-connection by providing over 230 per cent additional capacity, allowing for two-way calling between the networks," the Idea statement read.
Idea has now provisioned 1,865 ports for access, from 565 earlier-a 230 per cent increase in capacity.
"Simultaneously, the NLD (national long distance) capacity is also being expanded by nearly 50 per cent. With this huge capacity expansion, over 2,100 ports will now be available for traffic between Idea and Jio, allowing sufficient buffer for future," it said.
Reliance Jio-which commercially launched its services on September 5-has accused the existing players of not releasing sufficient inter-connection points while the incumbents like Idea, Bharti Airtel and Vodafone have blamed the new entrant for unleashing a "tsunami" of free traffic on their networks.
After Trai's nudge, the operators have agreed to augment capacity on their networks to accommodate more Jio traffic, but have been seeking regulatory intervention to address the issue of "induced asymmetry of traffic".
Jio argues that that benefits of superior voice technology is being denied to its customers due to the network congestion and has blamed the "anti-competitive behaviour of incumbent operators" for the "poor experience" on its services.
Jio has claimed that it has been witnessing 75-80 per cent call failures over the last few weeks. It had said that over a period of 10 days alone, 52 crore calls failed cumulatively on the networks of the three incumbent operators Airtel, Vodafone India and Idea Cellular.
With Trai keeping a tab on the point of inter-connect (PoI) issue between incumbent operators and Reliance Jio, Idea Cellular on Friday said it has agreed to provide 230 per cent additional capacity to the new entrant.
Over 2,100 ports will now be available for traffic between Idea and Jio allowing sufficient buffer for future, Idea said adding that it will "continue to engage and expand capacity for the new operator to allow seamless traffic flow between the networks".
Coming just days after Trai warned operators of action in case of service quality violation arising out of insufficient inter-connectivity points, the statement issued by Idea said quality of service for its customers is a "top priority".
"Idea Cellular recently invited Jio for a discussion to mutually resolve the traffic asymmetry. As quality of service for its customers is top priority, Idea has agreed to further enhance capacity in both access and long-distance inter-connection by providing over 230 per cent additional capacity, allowing for two-way calling between the networks," the Idea statement read.
Idea has now provisioned 1,865 ports for access, from 565 earlier-a 230 per cent increase in capacity.
"Simultaneously, the NLD (national long distance) capacity is also being expanded by nearly 50 per cent. With this huge capacity expansion, over 2,100 ports will now be available for traffic between Idea and Jio, allowing sufficient buffer for future," it said.
Reliance Jio-which commercially launched its services on September 5-has accused the existing players of not releasing sufficient inter-connection points while the incumbents like Idea, Bharti Airtel and Vodafone have blamed the new entrant for unleashing a "tsunami" of free traffic on their networks.
After Trai's nudge, the operators have agreed to augment capacity on their networks to accommodate more Jio traffic, but have been seeking regulatory intervention to address the issue of "induced asymmetry of traffic".
Jio argues that that benefits of superior voice technology is being denied to its customers due to the network congestion and has blamed the "anti-competitive behaviour of incumbent operators" for the "poor experience" on its services.
Jio has claimed that it has been witnessing 75-80 per cent call failures over the last few weeks. It had said that over a period of 10 days alone, 52 crore calls failed cumulatively on the networks of the three incumbent operators Airtel, Vodafone India and Idea Cellular.
Indian Railways to spend entire outlay of Rs 1.21 lakh cr : Manoj Sinha
-
Indian Railways will spend the entire Rs 1.21 lakh crore earmarked for this fiscal, Minister of State for Railways Manoj Sinha said on Friday.
"This year Rs 1.21 lakh crore has been earmarked and I believe this year 100 per cent of it will be spent.
Last time Railway was not ready because there was sudden large scale investment. Railway officers were not prepared to work on large scale investment," Sinha said at an Assocham event.
He said average investment in Railways during the last five years had been to the tune of about Rs 46,000 crore, which was increased to Rs 1 lakh crore last year, out of which Rs 94,000 crore was spent.
"LIC has for the first time given Rs 1.5 lakh crore for investment. We are working on overnight journey trains so that Delhi-Kolkata and Delhi-Mumbai can be covered overnight. The coaches were not designed earlier to suit overnight journey and it is being done now," he said.
He said the government's investment in infrastructure has spurred growth in the economy.
"For development of stations, we are talking to World Bank and some Japanese entities have come to us today for discussion," Sinha said.
He said there had been corruption in the processes earlier, which are being rectified now.
"I remember four years ago, tender was issued for NH2 which passes from Varanasi. Before building the road, toll collection was started at multiple places.
"It is my own estimate that the company involved in it would have invested around Rs 50 crore and recovered Rs 1,000 crore. The rule has been changed that 80 per cent of work needs to be completed before charging toll," Sinha said.
He said development activities are moving in the right direction and will take time to show their impact across the country.
"Before general elections, people were expecting that the vehicle will run in top gear but it takes time to reach top gear. It is very difficult to bring big change in short period of time in country of this big size," Sinha said.
Indian Railways will spend the entire Rs 1.21 lakh crore earmarked for this fiscal, Minister of State for Railways Manoj Sinha said on Friday.
"This year Rs 1.21 lakh crore has been earmarked and I believe this year 100 per cent of it will be spent.
Last time Railway was not ready because there was sudden large scale investment. Railway officers were not prepared to work on large scale investment," Sinha said at an Assocham event.
He said average investment in Railways during the last five years had been to the tune of about Rs 46,000 crore, which was increased to Rs 1 lakh crore last year, out of which Rs 94,000 crore was spent.
"LIC has for the first time given Rs 1.5 lakh crore for investment. We are working on overnight journey trains so that Delhi-Kolkata and Delhi-Mumbai can be covered overnight. The coaches were not designed earlier to suit overnight journey and it is being done now," he said.
He said the government's investment in infrastructure has spurred growth in the economy.
"For development of stations, we are talking to World Bank and some Japanese entities have come to us today for discussion," Sinha said.
He said there had been corruption in the processes earlier, which are being rectified now.
"I remember four years ago, tender was issued for NH2 which passes from Varanasi. Before building the road, toll collection was started at multiple places.
"It is my own estimate that the company involved in it would have invested around Rs 50 crore and recovered Rs 1,000 crore. The rule has been changed that 80 per cent of work needs to be completed before charging toll," Sinha said.
He said development activities are moving in the right direction and will take time to show their impact across the country.
"Before general elections, people were expecting that the vehicle will run in top gear but it takes time to reach top gear. It is very difficult to bring big change in short period of time in country of this big size," Sinha said.
General Awareness
GENERAL AWARENESS PRACTICE QUESTIONS FOR IBPS EXAM
-
1. Who is appointed as the 24th Governor of the Reserve Bank of India in place of Mr. Raghuram Rajan?
a) H.R. Khan
b) N.S. Vishwanathan
c) R. Gandhi
d) S.S. Mundra
e) Urjit Patel
2. Which is the other bank that will be merged with SBI besides its five subsidiary banks?
a) City Union Bank
b) Karur Vysya Bank
c) South Indian Bank
d) Bharatiya Mahila Bank
e) IDBI
3. Which of the following products launched by most of the banks help farmers in getting instant credit for various agricultural purposes?
a) Kisan Credit Card
b) Personal loan
c) Business loan
d) Only (a) and (b)
e) None of the above
4. Banks have started opening biometric ATMs now. Such ATMs will prove most beneficial for
which of the following categories of customers?
a) Govt. employees
b) HNIs
c) NRIs
d) Students
e) Illiterate people
5. Which of the following institution provides long run finance to industries?
a) UTI
b) LIC
c) GIC
d) IDBI
e) All of the above
6. In banking terminology the word "Co - obligant" means:
a) A person who has guaranteed the account of another person(s)
b) A person who has executed an indemnity bond in a bank's favour
c) A person who has assumed obligations of contract jointly with other person(s)
d) A person/ business undertaking opening a documentary letter of credit
e) None of the above
7. Which of following is the first such company of the country which offers services for the resolution of Non - performing assets upon acquisition from bankers?
a) CIBIL
b) ARCIL
c) ECGC
d) CRISIL
e) IDFC
8. Who among the following has been appointed as Executive Director of the RBI, replacing N.S.
Vishwanathan, who recently was elevated as Deputy Governor of the RBI?
a) M.D. Patra
b) Sudharshan Sen
c) Chandan Sinha
d) U.S. Paliwal
e) Deepali Pant Joshi
9. Account payee crossing is a direction of the drawer:
a) to collecting banker
b) to drawee banker
c) to payee
d) to all endorsees
e) paying Banker
10. Govt. proposes to do away the ___ for its fiscal affairs management from fiscal 2017-18.
a) Plan and Non - Plan classification
b) Revenue receipts and Capital receipts classification
c) Tax and non tax receipts classification
d) Only (a) and (b)
e) None of these
11. The advantages of securitization for a Bank is:
a) It provides liquidity to the issuing Bank
b) The Bank capital does not get blocked
c) Securitization proceeds can be used for fresh lending
d) Only (a) and (b)
e) (a), (b) and (c)
12. Example of the product line of a
Bank is:
a) Car loan b) Personal loan
c) Home loan
d) Mortgage loan
e) All of the above
13. As per Prevention of Money Laundering act, the banks are required to maintain record of transactions for a minimum period of ____ from date of cessation of the transaction.
a) 2 years
b) 5 years
c) 10 years
d) 20 years
e) 25 years
14. Statutory cash reserve ratio for scheduled banks is regulated by Reserve Bank of India under powers conferred upon it by?
a) Reserve Bank of India act, 1934
b) Banking Regulation act, 1949
c) Companies act, 1956
d) Union Ministry of Finance
e) Negotiable Instruments act, 1881
15. The commercial paper can be issued by:
a) All banks b) All corporate
c) All corporate with net worth of at Rs. 1 crore
d) All corporate with net worth of at least Rs. 4 crores
e) Other than those given as options
16. "Ek Bharat Shreshtha Bharat" programme is meant for linking ___ to connect people through
exchanges in areas of language, trade, culture, travel and tourism:
a) States and Cities
b) States and Districts
c) Cities and Towns
d) Districts and Villages
e) None of the above
17. Grameen Bank and Micro Credit are associated with which person?
a) Manmohan Singh
b) Bill Gates
c) Md. Yunus
d) Aung San Su Ki
e) Acharya Vinobha Bhave
18. Many a time we read a term MSS in relation to banking transactions. What is the full form of MSS?
a) Money Stabilization Scheme
b) Market Stabilization Scheme
c) Maturity and Standardization Service
d) Money Stabilization Service
e) None of the above
19. RBI's open market operation transactions are carried out with a view to regulate?
a) Liquidity in the economy
b) Prices of essential commodities
c) Inflation
d) Only (a) and (c)
e) (a), (b) and (c)
20. What is an Indian Depository Receipt (IDR)?
a) A deposit account with a Public Sector Bank
b) A deposit account with any of depositories in India
c) It is a financial instrument denominated in Indian currency and are issued by a domestic depository and the underlying equity
d) Shares are secured with a custodian
e) None of the above
21. Which among the following bank/ banks in India have set up the Financial Literacy and Credit Counseling Centers?
a) Reserve Bank of India
b) Scheduled Commercial Banks
c) Foreign Banks working in India
d) NABARD
e) None of the above
22. Which of the following bank was not nationalized in 1969?
a) Canara Bank
b) United Bank of India
c) UCO Bank
d) Punjab National Bank
e) Andhra Bank
23. Which of the following comes under RBI's quantitative measures?
a) Bank Rate Policy
b) Open Market Operation
c) Cash Reserve Ratio
d) Statutory Liquidity Ratio
e) All the above
24. Prior to the establishment of the Reserve Bank of India, the Government banking business was conducted by:
a) Bank of India
b) Central Bank of India
c) National Bank of India
d) Imperial Bank of India
e) Punjab National Bank
25. The assets of the banks will be classified as Standard, Sub-standard, Doubtful and Loss assets. Wherein assets which have remained NPA for a period less than or equal to 12 months, are termed as:
a) Substandard assets
b) Doubtful assets
c) Loss assets
d) Provisional assets
e) Other than those given as
options
26. Govt. has proposed to assist the Start-ups through ___ deduction of profits for 3 out of 5 years for startups set up during April 2016 to March 2019.
a) 40%
b) 60%
c) 80%
d) 25%
e) 100%
27. In banking parlance there are certain terms like Demand Deposits and Term Deposits. Term Deposits include:
a) Fixed deposits
b) Recurring deposits
c) Time liabilities portion of saving bank deposits
d) SDR (Short Term Deposits)
e) All of the above
28. Which of the following is not associated with risks related to risk management in banks?
a) Credit risk
b) Market risk
c) Profit risk
d) Operational risk
e) None of these
29. Which of the following is not an authorized mode in Banks to Transfer Money, Know the balance, in the account, etc.?
a) Online
b) Mobile
c) Phone
d) Video Conferencing
e) None of the above
30. A trust is a legal entity authenticated by a:
a) Title deed
b) Sale deed
c) Trust deed
d) Partnership deed
e) Power of attorney
31. Banks allow some important customers to withdraw without clear credit balance. Such facility is known as:
a) Zero Balance
b) Current Account
c) Overdraft
d) Demand draft
e) Promissory
32. To open a savings account in the name of a minor, we should ensure:
a) The person can independently read, write and sign
b) Only operated by self; either physical visits or through ATMs
c) An undertaking furnished by the major guardian
d) Only (a)
e) (a), (b) and (c)
33. Certificate of incorporation of a company is like a:
a) License
b) Permit
c) Clearance
d) Birth certificate
e) Statutory approval
34. To open the account of a public charitable trust, the key document required is:
a) Permission of Charity Commissioner
b) Permission of Local Authority
c) Permission of Court of Law
d) All of the above
e) None of the above
Answers
1) e 2) d 3) a 4) e 5) d 6) c 7) b 8) b 9) e 10) a
11) e 12) e 13) b 14) b 15) d 16) b 17) c 18) b 19) e 20) c
21) b 22) e 23) e 24) d 25) a 26) d 27) e 28) c 29) d 30) c
31) c 32) e 33) d 34) a
1. Who is appointed as the 24th Governor of the Reserve Bank of India in place of Mr. Raghuram Rajan?
a) H.R. Khan
b) N.S. Vishwanathan
c) R. Gandhi
d) S.S. Mundra
e) Urjit Patel
2. Which is the other bank that will be merged with SBI besides its five subsidiary banks?
a) City Union Bank
b) Karur Vysya Bank
c) South Indian Bank
d) Bharatiya Mahila Bank
e) IDBI
3. Which of the following products launched by most of the banks help farmers in getting instant credit for various agricultural purposes?
a) Kisan Credit Card
b) Personal loan
c) Business loan
d) Only (a) and (b)
e) None of the above
4. Banks have started opening biometric ATMs now. Such ATMs will prove most beneficial for
which of the following categories of customers?
a) Govt. employees
b) HNIs
c) NRIs
d) Students
e) Illiterate people
5. Which of the following institution provides long run finance to industries?
a) UTI
b) LIC
c) GIC
d) IDBI
e) All of the above
6. In banking terminology the word "Co - obligant" means:
a) A person who has guaranteed the account of another person(s)
b) A person who has executed an indemnity bond in a bank's favour
c) A person who has assumed obligations of contract jointly with other person(s)
d) A person/ business undertaking opening a documentary letter of credit
e) None of the above
7. Which of following is the first such company of the country which offers services for the resolution of Non - performing assets upon acquisition from bankers?
a) CIBIL
b) ARCIL
c) ECGC
d) CRISIL
e) IDFC
8. Who among the following has been appointed as Executive Director of the RBI, replacing N.S.
Vishwanathan, who recently was elevated as Deputy Governor of the RBI?
a) M.D. Patra
b) Sudharshan Sen
c) Chandan Sinha
d) U.S. Paliwal
e) Deepali Pant Joshi
9. Account payee crossing is a direction of the drawer:
a) to collecting banker
b) to drawee banker
c) to payee
d) to all endorsees
e) paying Banker
10. Govt. proposes to do away the ___ for its fiscal affairs management from fiscal 2017-18.
a) Plan and Non - Plan classification
b) Revenue receipts and Capital receipts classification
c) Tax and non tax receipts classification
d) Only (a) and (b)
e) None of these
11. The advantages of securitization for a Bank is:
a) It provides liquidity to the issuing Bank
b) The Bank capital does not get blocked
c) Securitization proceeds can be used for fresh lending
d) Only (a) and (b)
e) (a), (b) and (c)
12. Example of the product line of a
Bank is:
a) Car loan b) Personal loan
c) Home loan
d) Mortgage loan
e) All of the above
13. As per Prevention of Money Laundering act, the banks are required to maintain record of transactions for a minimum period of ____ from date of cessation of the transaction.
a) 2 years
b) 5 years
c) 10 years
d) 20 years
e) 25 years
14. Statutory cash reserve ratio for scheduled banks is regulated by Reserve Bank of India under powers conferred upon it by?
a) Reserve Bank of India act, 1934
b) Banking Regulation act, 1949
c) Companies act, 1956
d) Union Ministry of Finance
e) Negotiable Instruments act, 1881
15. The commercial paper can be issued by:
a) All banks b) All corporate
c) All corporate with net worth of at Rs. 1 crore
d) All corporate with net worth of at least Rs. 4 crores
e) Other than those given as options
16. "Ek Bharat Shreshtha Bharat" programme is meant for linking ___ to connect people through
exchanges in areas of language, trade, culture, travel and tourism:
a) States and Cities
b) States and Districts
c) Cities and Towns
d) Districts and Villages
e) None of the above
17. Grameen Bank and Micro Credit are associated with which person?
a) Manmohan Singh
b) Bill Gates
c) Md. Yunus
d) Aung San Su Ki
e) Acharya Vinobha Bhave
18. Many a time we read a term MSS in relation to banking transactions. What is the full form of MSS?
a) Money Stabilization Scheme
b) Market Stabilization Scheme
c) Maturity and Standardization Service
d) Money Stabilization Service
e) None of the above
19. RBI's open market operation transactions are carried out with a view to regulate?
a) Liquidity in the economy
b) Prices of essential commodities
c) Inflation
d) Only (a) and (c)
e) (a), (b) and (c)
20. What is an Indian Depository Receipt (IDR)?
a) A deposit account with a Public Sector Bank
b) A deposit account with any of depositories in India
c) It is a financial instrument denominated in Indian currency and are issued by a domestic depository and the underlying equity
d) Shares are secured with a custodian
e) None of the above
21. Which among the following bank/ banks in India have set up the Financial Literacy and Credit Counseling Centers?
a) Reserve Bank of India
b) Scheduled Commercial Banks
c) Foreign Banks working in India
d) NABARD
e) None of the above
22. Which of the following bank was not nationalized in 1969?
a) Canara Bank
b) United Bank of India
c) UCO Bank
d) Punjab National Bank
e) Andhra Bank
23. Which of the following comes under RBI's quantitative measures?
a) Bank Rate Policy
b) Open Market Operation
c) Cash Reserve Ratio
d) Statutory Liquidity Ratio
e) All the above
24. Prior to the establishment of the Reserve Bank of India, the Government banking business was conducted by:
a) Bank of India
b) Central Bank of India
c) National Bank of India
d) Imperial Bank of India
e) Punjab National Bank
25. The assets of the banks will be classified as Standard, Sub-standard, Doubtful and Loss assets. Wherein assets which have remained NPA for a period less than or equal to 12 months, are termed as:
a) Substandard assets
b) Doubtful assets
c) Loss assets
d) Provisional assets
e) Other than those given as
options
26. Govt. has proposed to assist the Start-ups through ___ deduction of profits for 3 out of 5 years for startups set up during April 2016 to March 2019.
a) 40%
b) 60%
c) 80%
d) 25%
e) 100%
27. In banking parlance there are certain terms like Demand Deposits and Term Deposits. Term Deposits include:
a) Fixed deposits
b) Recurring deposits
c) Time liabilities portion of saving bank deposits
d) SDR (Short Term Deposits)
e) All of the above
28. Which of the following is not associated with risks related to risk management in banks?
a) Credit risk
b) Market risk
c) Profit risk
d) Operational risk
e) None of these
29. Which of the following is not an authorized mode in Banks to Transfer Money, Know the balance, in the account, etc.?
a) Online
b) Mobile
c) Phone
d) Video Conferencing
e) None of the above
30. A trust is a legal entity authenticated by a:
a) Title deed
b) Sale deed
c) Trust deed
d) Partnership deed
e) Power of attorney
31. Banks allow some important customers to withdraw without clear credit balance. Such facility is known as:
a) Zero Balance
b) Current Account
c) Overdraft
d) Demand draft
e) Promissory
32. To open a savings account in the name of a minor, we should ensure:
a) The person can independently read, write and sign
b) Only operated by self; either physical visits or through ATMs
c) An undertaking furnished by the major guardian
d) Only (a)
e) (a), (b) and (c)
33. Certificate of incorporation of a company is like a:
a) License
b) Permit
c) Clearance
d) Birth certificate
e) Statutory approval
34. To open the account of a public charitable trust, the key document required is:
a) Permission of Charity Commissioner
b) Permission of Local Authority
c) Permission of Court of Law
d) All of the above
e) None of the above
Answers
1) e 2) d 3) a 4) e 5) d 6) c 7) b 8) b 9) e 10) a
11) e 12) e 13) b 14) b 15) d 16) b 17) c 18) b 19) e 20) c
21) b 22) e 23) e 24) d 25) a 26) d 27) e 28) c 29) d 30) c
31) c 32) e 33) d 34) a
a) H.R. Khan
b) N.S. Vishwanathan
c) R. Gandhi
d) S.S. Mundra
e) Urjit Patel
2. Which is the other bank that will be merged with SBI besides its five subsidiary banks?
a) City Union Bank
b) Karur Vysya Bank
c) South Indian Bank
d) Bharatiya Mahila Bank
e) IDBI
3. Which of the following products launched by most of the banks help farmers in getting instant credit for various agricultural purposes?
a) Kisan Credit Card
b) Personal loan
c) Business loan
d) Only (a) and (b)
e) None of the above
4. Banks have started opening biometric ATMs now. Such ATMs will prove most beneficial for
which of the following categories of customers?
a) Govt. employees
b) HNIs
c) NRIs
d) Students
e) Illiterate people
5. Which of the following institution provides long run finance to industries?
a) UTI
b) LIC
c) GIC
d) IDBI
e) All of the above
6. In banking terminology the word "Co - obligant" means:
a) A person who has guaranteed the account of another person(s)
b) A person who has executed an indemnity bond in a bank's favour
c) A person who has assumed obligations of contract jointly with other person(s)
d) A person/ business undertaking opening a documentary letter of credit
e) None of the above
7. Which of following is the first such company of the country which offers services for the resolution of Non - performing assets upon acquisition from bankers?
a) CIBIL
b) ARCIL
c) ECGC
d) CRISIL
e) IDFC
8. Who among the following has been appointed as Executive Director of the RBI, replacing N.S.
Vishwanathan, who recently was elevated as Deputy Governor of the RBI?
a) M.D. Patra
b) Sudharshan Sen
c) Chandan Sinha
d) U.S. Paliwal
e) Deepali Pant Joshi
9. Account payee crossing is a direction of the drawer:
a) to collecting banker
b) to drawee banker
c) to payee
d) to all endorsees
e) paying Banker
10. Govt. proposes to do away the ___ for its fiscal affairs management from fiscal 2017-18.
a) Plan and Non - Plan classification
b) Revenue receipts and Capital receipts classification
c) Tax and non tax receipts classification
d) Only (a) and (b)
e) None of these
11. The advantages of securitization for a Bank is:
a) It provides liquidity to the issuing Bank
b) The Bank capital does not get blocked
c) Securitization proceeds can be used for fresh lending
d) Only (a) and (b)
e) (a), (b) and (c)
12. Example of the product line of a
Bank is:
a) Car loan b) Personal loan
c) Home loan
d) Mortgage loan
e) All of the above
13. As per Prevention of Money Laundering act, the banks are required to maintain record of transactions for a minimum period of ____ from date of cessation of the transaction.
a) 2 years
b) 5 years
c) 10 years
d) 20 years
e) 25 years
14. Statutory cash reserve ratio for scheduled banks is regulated by Reserve Bank of India under powers conferred upon it by?
a) Reserve Bank of India act, 1934
b) Banking Regulation act, 1949
c) Companies act, 1956
d) Union Ministry of Finance
e) Negotiable Instruments act, 1881
15. The commercial paper can be issued by:
a) All banks b) All corporate
c) All corporate with net worth of at Rs. 1 crore
d) All corporate with net worth of at least Rs. 4 crores
e) Other than those given as options
16. "Ek Bharat Shreshtha Bharat" programme is meant for linking ___ to connect people through
exchanges in areas of language, trade, culture, travel and tourism:
a) States and Cities
b) States and Districts
c) Cities and Towns
d) Districts and Villages
e) None of the above
17. Grameen Bank and Micro Credit are associated with which person?
a) Manmohan Singh
b) Bill Gates
c) Md. Yunus
d) Aung San Su Ki
e) Acharya Vinobha Bhave
18. Many a time we read a term MSS in relation to banking transactions. What is the full form of MSS?
a) Money Stabilization Scheme
b) Market Stabilization Scheme
c) Maturity and Standardization Service
d) Money Stabilization Service
e) None of the above
19. RBI's open market operation transactions are carried out with a view to regulate?
a) Liquidity in the economy
b) Prices of essential commodities
c) Inflation
d) Only (a) and (c)
e) (a), (b) and (c)
20. What is an Indian Depository Receipt (IDR)?
a) A deposit account with a Public Sector Bank
b) A deposit account with any of depositories in India
c) It is a financial instrument denominated in Indian currency and are issued by a domestic depository and the underlying equity
d) Shares are secured with a custodian
e) None of the above
21. Which among the following bank/ banks in India have set up the Financial Literacy and Credit Counseling Centers?
a) Reserve Bank of India
b) Scheduled Commercial Banks
c) Foreign Banks working in India
d) NABARD
e) None of the above
22. Which of the following bank was not nationalized in 1969?
a) Canara Bank
b) United Bank of India
c) UCO Bank
d) Punjab National Bank
e) Andhra Bank
23. Which of the following comes under RBI's quantitative measures?
a) Bank Rate Policy
b) Open Market Operation
c) Cash Reserve Ratio
d) Statutory Liquidity Ratio
e) All the above
24. Prior to the establishment of the Reserve Bank of India, the Government banking business was conducted by:
a) Bank of India
b) Central Bank of India
c) National Bank of India
d) Imperial Bank of India
e) Punjab National Bank
25. The assets of the banks will be classified as Standard, Sub-standard, Doubtful and Loss assets. Wherein assets which have remained NPA for a period less than or equal to 12 months, are termed as:
a) Substandard assets
b) Doubtful assets
c) Loss assets
d) Provisional assets
e) Other than those given as
options
26. Govt. has proposed to assist the Start-ups through ___ deduction of profits for 3 out of 5 years for startups set up during April 2016 to March 2019.
a) 40%
b) 60%
c) 80%
d) 25%
e) 100%
27. In banking parlance there are certain terms like Demand Deposits and Term Deposits. Term Deposits include:
a) Fixed deposits
b) Recurring deposits
c) Time liabilities portion of saving bank deposits
d) SDR (Short Term Deposits)
e) All of the above
28. Which of the following is not associated with risks related to risk management in banks?
a) Credit risk
b) Market risk
c) Profit risk
d) Operational risk
e) None of these
29. Which of the following is not an authorized mode in Banks to Transfer Money, Know the balance, in the account, etc.?
a) Online
b) Mobile
c) Phone
d) Video Conferencing
e) None of the above
30. A trust is a legal entity authenticated by a:
a) Title deed
b) Sale deed
c) Trust deed
d) Partnership deed
e) Power of attorney
31. Banks allow some important customers to withdraw without clear credit balance. Such facility is known as:
a) Zero Balance
b) Current Account
c) Overdraft
d) Demand draft
e) Promissory
32. To open a savings account in the name of a minor, we should ensure:
a) The person can independently read, write and sign
b) Only operated by self; either physical visits or through ATMs
c) An undertaking furnished by the major guardian
d) Only (a)
e) (a), (b) and (c)
33. Certificate of incorporation of a company is like a:
a) License
b) Permit
c) Clearance
d) Birth certificate
e) Statutory approval
34. To open the account of a public charitable trust, the key document required is:
a) Permission of Charity Commissioner
b) Permission of Local Authority
c) Permission of Court of Law
d) All of the above
e) None of the above
Answers
1) e 2) d 3) a 4) e 5) d 6) c 7) b 8) b 9) e 10) a
11) e 12) e 13) b 14) b 15) d 16) b 17) c 18) b 19) e 20) c
21) b 22) e 23) e 24) d 25) a 26) d 27) e 28) c 29) d 30) c
31) c 32) e 33) d 34) a
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