General Affairs
India, Russia Ink Pact To Set Up 25 Irradiation Centers
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NEW DELHI: India and Russia today signed a pact to set up 25 integrated infrastructure centers for irradiation treatment of perishable food items to improve shelf life and cut post-harvest losses.
At least 7 centers will be set up in Maharashtra, with the first centre near Shirdi to be ready next year. Perishable items ranging from flowers to fish will be treated there on a commercial scale.
The agreement was signed between Russia's United Innovation Corporation (UIC) -- a subsidiary of Rosatom State Atomic Energy Corporation -- and Hindustan Agro Co-op Ltd on the sidelines of the BRICS Business Forum here.
"As part of the agreement, a JV will be formed for this purpose. About 25 integrated centers will be developed across the country, of which seven of them in Maharashtra in the first phase," Hindustan Agro Co-op Ltd Chairman Bharat Dhokani Patil told reporters.
UIC will be a technology partner and will help set up the irradiation centers in India. The mode of investment and economic feasibility of the project is still being worked out, he said.
The 7 centers are likely to be established in Sindhurg, Satara, Solapur, JNPT, Jalana, Napur and Pune in the first phase. The locations in other states are yet to be finalised, he added.
UIC CEO Denis Vitalyevich Cherednichenko said: "The irradiation centers that we are planning to design, build and put into operation will use the technology and technical solution based on gamma-facility and/or electron accelerator."
The exact cost will be determined after assessing the economic feasibility and completing relevant preparatory work, he said. "Depending on the technological solution used in the project and considering the selected options for the center, the average cost of the irradiation center usually ranges between USD 4 million to USD 20 million."
Within the framework of bilateral cooperation, it is considered acceptable to extend a network of integrated infrastructure centers for irradiation treatment in the UAE, Mauritius and Malaysia, he added.
Radiation treatment is carried out in dosage recommended by the International Atomic Energy Agency (IAEA) and it neither reduces the nutritional value of food nor spoils their taste and appearance, Cherednichenko said.
"This project will become an example of international cooperation in the sphere of nuclear technology development as well as the role of the peaceful use of nuclear power in addressing global challenges including those related to sustainable development," he said.
At least 7 centers will be set up in Maharashtra, with the first centre near Shirdi to be ready next year. Perishable items ranging from flowers to fish will be treated there on a commercial scale.
The agreement was signed between Russia's United Innovation Corporation (UIC) -- a subsidiary of Rosatom State Atomic Energy Corporation -- and Hindustan Agro Co-op Ltd on the sidelines of the BRICS Business Forum here.
UIC will be a technology partner and will help set up the irradiation centers in India. The mode of investment and economic feasibility of the project is still being worked out, he said.
The 7 centers are likely to be established in Sindhurg, Satara, Solapur, JNPT, Jalana, Napur and Pune in the first phase. The locations in other states are yet to be finalised, he added.
The exact cost will be determined after assessing the economic feasibility and completing relevant preparatory work, he said. "Depending on the technological solution used in the project and considering the selected options for the center, the average cost of the irradiation center usually ranges between USD 4 million to USD 20 million."
Within the framework of bilateral cooperation, it is considered acceptable to extend a network of integrated infrastructure centers for irradiation treatment in the UAE, Mauritius and Malaysia, he added.
Radiation treatment is carried out in dosage recommended by the International Atomic Energy Agency (IAEA) and it neither reduces the nutritional value of food nor spoils their taste and appearance, Cherednichenko said.
"This project will become an example of international cooperation in the sphere of nuclear technology development as well as the role of the peaceful use of nuclear power in addressing global challenges including those related to sustainable development," he said.
India Rejects Pak's Reference To Women's Condition In Jammu And Kashmir
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UNITED NATIONS: Innocent Indian women have suffered for long due to the persistent terrorist acts perpetrated by "proxies of Pakistan", India has said as it strongly rejecting references by Islamabad to conditions of women in Jammu and Kashmir.
Counsellor Mayank Joshi in India's Permanent Mission to the UN "completely" rejected the "baseless allegations" made by Pakistan about women in Jammu and Kashmir, saying "in fact" it is the innocent Indian women who have for "long suffered due to the persistent terrorist acts perpetrated by proxies of Pakistan."
Mr Joshi exercised India's Right of Reply after Pakistani Prime Minister Nawaz Sharif's Special Envoy on Kashmir Shezra Mansab Ali Khan referred to the conditions of women in Jammu and Kashmir during an October 11 session on Advancement of Women in the General Assembly's Third Committee, which focuses on social and humanitarian issues.
Ms Khan said that armed conflict accentuates the plight of women.
Speaking about Jammu and Kashmir, Pakistan's envoy alleged that "thousands of women have fallen victims to brutal oppression".
Mr Joshi said it is "ironical" that a country that has "institutionalised the oppression" of women in its society, including through "medieval draconian laws is making claims about the rights of women in a pluralistic democracy such as India."
He said Pakistan will be well served to "seriously examine" what ails its women and hampers their advancement.
Mr Joshi asserted that India will not respond to the "lies and deceit" Pakistan has been resorting to at the world body to pursue a diplomacy of "hate".
"We are aware of Pakistan s cynical attempts to pursue diplomacy of hate through lies and deceit. We do not intend to further respond to such misguided and futile efforts," he said.
Counsellor Mayank Joshi in India's Permanent Mission to the UN "completely" rejected the "baseless allegations" made by Pakistan about women in Jammu and Kashmir, saying "in fact" it is the innocent Indian women who have for "long suffered due to the persistent terrorist acts perpetrated by proxies of Pakistan."
Ms Khan said that armed conflict accentuates the plight of women.
Speaking about Jammu and Kashmir, Pakistan's envoy alleged that "thousands of women have fallen victims to brutal oppression".
He said Pakistan will be well served to "seriously examine" what ails its women and hampers their advancement.
Mr Joshi asserted that India will not respond to the "lies and deceit" Pakistan has been resorting to at the world body to pursue a diplomacy of "hate".
"We are aware of Pakistan s cynical attempts to pursue diplomacy of hate through lies and deceit. We do not intend to further respond to such misguided and futile efforts," he said.
Parliament's Winter Session To Be Held From November 16 To December 16
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NEW DELHI: The month-long Winter Session of Parliament is set to begin from November 16 during which the issue of surgical strikes in Pakistan-occupied Kashmir (PoK) is likely to dominate the proceedings.
The Cabinet Committee on Parliamentary Affair (CCPA) met in Delhi this evening and recommended that the session would commence from November 16 and end on December 16.
The Winter Session dates have been advanced as in the past it was normally convened in the third or fourth week of November.
An early session may help the Central GST (CGST) and Integrated GST (IGST) legislations, which will pave way for the Goods and Services Tax (GST), to be approved within November or latest by early December.
The government is also considering advancing the Budget Session by a month or so starting from January next year.
Sources in the government said besides legislations relating to GST, nearly 15 new bills are likely to be introduced.
The government would also push for the passage of the ordinance which seeks to amend the Enemy Property Act.
In December, the Centre had for the fourth time promulgated the ordinance to amend the nearly 50-year-old Enemy Property law to guard against claims of succession or transfer of properties left by people who migrated to Pakistan and China after wars.
The issue of the Army's surgical strikes across LoC and allegations by some parties that the government was trying to politicise the issue are set to grab the limelight during the session.
The Cabinet Committee on Parliamentary Affair (CCPA) met in Delhi this evening and recommended that the session would commence from November 16 and end on December 16.
The Winter Session dates have been advanced as in the past it was normally convened in the third or fourth week of November.
An early session may help the Central GST (CGST) and Integrated GST (IGST) legislations, which will pave way for the Goods and Services Tax (GST), to be approved within November or latest by early December.
The government is also considering advancing the Budget Session by a month or so starting from January next year.
Sources in the government said besides legislations relating to GST, nearly 15 new bills are likely to be introduced.
The government would also push for the passage of the ordinance which seeks to amend the Enemy Property Act.
In December, the Centre had for the fourth time promulgated the ordinance to amend the nearly 50-year-old Enemy Property law to guard against claims of succession or transfer of properties left by people who migrated to Pakistan and China after wars.
The issue of the Army's surgical strikes across LoC and allegations by some parties that the government was trying to politicise the issue are set to grab the limelight during the session.
Russia, India To Sign $5 Billion S-400 Missile Deal At BRICS Meet In Goa
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Russia and India will sign a 5 billion dollar agreement on Saturday for Moscow to deliver S-400 surface-to-air missiles to New Delhi.
Kremlin aide Yuri Ushakov said the agreement would be signed at the BRICS summit in Goa, where Prime Minister Narendra Modi will meet separately with President Vladmir Putin too.
BRICS groups together China, Russia, Brazil India and South Africa.
The S-400 anti-aircraft missiles were cleared for purchase in December by the Defence Ministry.
The five missiles India is acquiring will likely provide defence for a large area around high-value installations including nuclear power plants and key government centers. They are also expected to provide India with a missile-shield for protection against Pakistani or Chinese nuclear-capable ballistic missiles.
Considered the most advanced surface-to-air missile system in the world, the Russian S-400 system's missiles can intercept incoming aircraft and missiles at a range of 400 kilometers. The sensitive radars of the system are thought to be able to detect even stealth aircraft which present a very small radar cross-section and are often impossible for other systems to track.
Kremlin aide Yuri Ushakov said the agreement would be signed at the BRICS summit in Goa, where Prime Minister Narendra Modi will meet separately with President Vladmir Putin too.
BRICS groups together China, Russia, Brazil India and South Africa.
The five missiles India is acquiring will likely provide defence for a large area around high-value installations including nuclear power plants and key government centers. They are also expected to provide India with a missile-shield for protection against Pakistani or Chinese nuclear-capable ballistic missiles.
Considered the most advanced surface-to-air missile system in the world, the Russian S-400 system's missiles can intercept incoming aircraft and missiles at a range of 400 kilometers. The sensitive radars of the system are thought to be able to detect even stealth aircraft which present a very small radar cross-section and are often impossible for other systems to track.
India To Eliminate Potent Greenhouse Gas HFC-23
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KIGALI: India today announced that it will eliminate the HFC-23 gas, a potent greenhouse gas with high global warming potential, as part of its commitment to combat the threat emanating from climate-damaging HFCs.
The major commitment was made by Environment Minister Anil Madhav Dave, who is in Kigali to attend the high-level segment of the conference on Montreal Protocol.
Giving the go-ahead for releasing the order for incinerating the HFC-23 by producers of HCFC-22 gas, Mr Dave said "HFC-23 gas, a potent greenhouse gas with global warming potential 14,800 times more than CO2 is produced as a by-product of HCFC-22 manufacturing, and if vented out in environment, it is a threat to the environment".
The minister clarified that the companies have to internalise the cost of this environmental externality, and create sufficient storage facility to take care of down time and run the incinerators.
It is noted that some HCFC-22 producers even in developed world are not handling the HFC-23 in most professional manner, a statement said.
AN Jha, Secretary, Ministry of Environment and Forests (MoEF), said this decision of India at this juncture fortifies the determination and commitment of the country on climate issues.
"This will have a positive impact on the discussions on HFCs and will make the governments and producers of HCFC-22 in both developed and developing countries to think on emulating this practice," Mr Jha said.
The government said it is now hard for the teams from countries which are producers of HCFC-22 to negotiate for funding from Multilateral Funds for creating facility for incineration or financial support for incinerating the gas.
Signing the orders, Manoj Kumar Singh, joint secretary in the MoEF and lead Indian negotiator, highlighted the fact that even with complete phase out of HCFCs for usage as refrigerants under the Montreal Protocol that its production will continue for feedstock purposes.
"This production for feedstock purpose will reach 1 million tonnes at its peak, so ensuring the incineration of HFC-23 being produced as by-product will ensure an avoidance of more than 444 million tonnes of CO2 equivalent globally,"
Mr Singh said.
This is a major break away from the concept of financial assistance for every action on environment, in which India has shown the lead, he added.
The major commitment was made by Environment Minister Anil Madhav Dave, who is in Kigali to attend the high-level segment of the conference on Montreal Protocol.
The minister clarified that the companies have to internalise the cost of this environmental externality, and create sufficient storage facility to take care of down time and run the incinerators.
It is noted that some HCFC-22 producers even in developed world are not handling the HFC-23 in most professional manner, a statement said.
AN Jha, Secretary, Ministry of Environment and Forests (MoEF), said this decision of India at this juncture fortifies the determination and commitment of the country on climate issues.
The government said it is now hard for the teams from countries which are producers of HCFC-22 to negotiate for funding from Multilateral Funds for creating facility for incineration or financial support for incinerating the gas.
Signing the orders, Manoj Kumar Singh, joint secretary in the MoEF and lead Indian negotiator, highlighted the fact that even with complete phase out of HCFCs for usage as refrigerants under the Montreal Protocol that its production will continue for feedstock purposes.
"This production for feedstock purpose will reach 1 million tonnes at its peak, so ensuring the incineration of HFC-23 being produced as by-product will ensure an avoidance of more than 444 million tonnes of CO2 equivalent globally,"
Mr Singh said.
This is a major break away from the concept of financial assistance for every action on environment, in which India has shown the lead, he added.
Business Affairs
Inflation cools to one-year low, offers room for more rate cuts
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India's retail inflation, measured by the Consumer Price Index (CPI), recorded a steep decline in September to 4.31% from 5.05% in August.
Consumer Food Price Index (CFPI) fell to 3.88% in September from 5.91% in August on account of cheaper food prices.
Retail inflation cooled to a 13-month low in September, helped by moderating food prices, giving room for the central bank to cut interest rates again if needed.
Analysts polled by Reuters had expected the CPI to rise 4.80 percent, after a 5.05 percent gain in August.
The latest prices data backed that assessment as annual food inflation sharply slowed to 3.88 percent in September from 5.91 percent a month ago.
With strong crop sowing on the back of good summer rains widely expected to keep a lid on food prices, and a benign outlook for global commodity prices, inflation is expected to remain in check.
"Until February we are going to see benign prints in CPI, which will open up space for at least one more rate cut in fiscal year 2016-17 under the present regime," said Rupa Rege Nitsure, group chief economist at L&T Finance Holdings.
After this month's surprise rate cut, many economists revised their interest rate outlook and are now expecting the central bank to cut its key repo rate further by as much as 50 bps.
Bolstering the rate cut hopes is the decision of the RBI's recently formed monetary policy committee to relax the timeline for meeting its inflation target.
The central bank now expects to hit its 4 percent inflation target by 2021 instead of 2018 as proposed earlier.
In his maiden monetary policy review in Mumbai, RBI Governor Urjit Patel who also chaired the first meeting of the new six-member monetary policy committee (MPC) announced the decision to slash the repo rate by 25 basis points to 6.25 per cent.
India's retail inflation, measured by the Consumer Price Index (CPI), recorded a steep decline in September to 4.31% from 5.05% in August.
Consumer Food Price Index (CFPI) fell to 3.88% in September from 5.91% in August on account of cheaper food prices.
Retail inflation cooled to a 13-month low in September, helped by moderating food prices, giving room for the central bank to cut interest rates again if needed.
Analysts polled by Reuters had expected the CPI to rise 4.80 percent, after a 5.05 percent gain in August.
The latest prices data backed that assessment as annual food inflation sharply slowed to 3.88 percent in September from 5.91 percent a month ago.
With strong crop sowing on the back of good summer rains widely expected to keep a lid on food prices, and a benign outlook for global commodity prices, inflation is expected to remain in check.
"Until February we are going to see benign prints in CPI, which will open up space for at least one more rate cut in fiscal year 2016-17 under the present regime," said Rupa Rege Nitsure, group chief economist at L&T Finance Holdings.
After this month's surprise rate cut, many economists revised their interest rate outlook and are now expecting the central bank to cut its key repo rate further by as much as 50 bps.
Bolstering the rate cut hopes is the decision of the RBI's recently formed monetary policy committee to relax the timeline for meeting its inflation target.
The central bank now expects to hit its 4 percent inflation target by 2021 instead of 2018 as proposed earlier.
In his maiden monetary policy review in Mumbai, RBI Governor Urjit Patel who also chaired the first meeting of the new six-member monetary policy committee (MPC) announced the decision to slash the repo rate by 25 basis points to 6.25 per cent.
Smart cities: Six tech points to mull over
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Technology is an important piece to the smart city puzzle - indeed a city cannot be truly "smart" without it. Nevertheless, in terms of investments, it may not account for more than 5 per cent of the overall spending Indian cities require.
A new report by management consulting firm Zinnov, announced on Thursday, has some interesting numbers and perspective. Here's a sampling.
- While the overall investments required to build 100 smart cities in India would exceed $31 billion over five years (2015-2020), just over 5 per cent of total spend-$1.5-2 billion-is expected to be spent on technology.
- The estimated $2 billion spending on tech would open up opportunities for hardware, software, and IT services vendors. About $800-900 million could be spent on cloud services, which implies a windfall for cloud vendors, says Rajat Kohli, an Engagement Manager with Zinnov. Cloud solutions will be spread across data centers, cloud-based delivery platforms, analytics, and Internet of Things (IoT) enabled solutions.
- Transportation and Power would be the biggest technology spending categories within smart city initiatives followed by Water and Sewage, Governance, and Waste Management. Solutions for power and water would include those that make transmission more efficient and prevent revenue loss.
- Over 60 per cent of the total technology spend would be in Tier-III cities.
- About 45 per cent of the technology spend will be driven three states -- UP, Maharashtra and Tamil Nadu. These three states have the maximum number of cities in the 100 cities shortlist. Within these states, the Tier-III cities would spend the maximum money.
- The consulting firm also estimates that the development of 100 smart cities would result into $200 billion of additional contribution in the GDP, 10 million jobs and over $10 billion savings in traffic congestion with the help of smarter technology. How is that? Better cities are expected to have a stronger economic thread and fuel consumption of both products and services. The big hope is citizens would also be willing to pay more for a much improved and efficient transportation system, power, water, e-governance, and waste management practices.
Technology is an important piece to the smart city puzzle - indeed a city cannot be truly "smart" without it. Nevertheless, in terms of investments, it may not account for more than 5 per cent of the overall spending Indian cities require.
A new report by management consulting firm Zinnov, announced on Thursday, has some interesting numbers and perspective. Here's a sampling.
- While the overall investments required to build 100 smart cities in India would exceed $31 billion over five years (2015-2020), just over 5 per cent of total spend-$1.5-2 billion-is expected to be spent on technology.
- The estimated $2 billion spending on tech would open up opportunities for hardware, software, and IT services vendors. About $800-900 million could be spent on cloud services, which implies a windfall for cloud vendors, says Rajat Kohli, an Engagement Manager with Zinnov. Cloud solutions will be spread across data centers, cloud-based delivery platforms, analytics, and Internet of Things (IoT) enabled solutions.
- Transportation and Power would be the biggest technology spending categories within smart city initiatives followed by Water and Sewage, Governance, and Waste Management. Solutions for power and water would include those that make transmission more efficient and prevent revenue loss.
- Over 60 per cent of the total technology spend would be in Tier-III cities.
- About 45 per cent of the technology spend will be driven three states -- UP, Maharashtra and Tamil Nadu. These three states have the maximum number of cities in the 100 cities shortlist. Within these states, the Tier-III cities would spend the maximum money.
- The consulting firm also estimates that the development of 100 smart cities would result into $200 billion of additional contribution in the GDP, 10 million jobs and over $10 billion savings in traffic congestion with the help of smarter technology. How is that? Better cities are expected to have a stronger economic thread and fuel consumption of both products and services. The big hope is citizens would also be willing to pay more for a much improved and efficient transportation system, power, water, e-governance, and waste management practices.
Don't know what's Blockchain technology? Let us explain
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ICICI Bank on Wednesday announced that it has successfully executed transactions in international trade finance and remittances using blockchain technology in partnership with a Dubai based bank Emirates NBD.
In 2008, a cryptographer who goes by the pseudonym Satoshi Nakamoto created a crypto-currency called bitcoin. Bitcoin is digital currency that allows you to perform peer-to-peer transactions without the help of a third party such as banks.
Although the enthusiasm around Bitcoin waned after several governments refused to recognise the crypto-currency, but the underlying technology of blockchain has been hailed by the banking sector.
What is blockchain technology?
A blockchain is an anonymous online ledger that uses data structure to simplify the way we transact. Blockchain allows users to manipulate the ledger in a secure way without the help of a third party.
A bank's ledger is connected to a centralised network. However, a blockchain is anonymous, protecting the identities of the users. This makes blockchain more secure to carry transactions.
The algorithm used in blockchain reduces the dependence on people to verify the transactions. The technology used for recording transactions has the potential to disrupt the financial system.
How it works?
According to Sunny Ray, Co-founder and President of India's leading bitcoin blockchain company, Unocoin, "blockchain enables two entities that do not know each other to agree that something is true without the need of a third party. As opposed to writing entries into a single sheet of paper, a blockchain is a distributed database that takes a number of inputs and places them into a block. Each block is then 'chained' to the next block using a cryptographic signature. This allows blockchains to be used as a ledger which is accessible by anyone with permission to do so. If everyone in the process is pre-selected, the ledger is termed 'permissioned'. If the process is open to the whole world, the ledger is called unpermissioned."
Why are banks interested?
All major banks are experimenting with blockchain as they can use it for money transfers, record keeping and other back-end functions.
The blockchain application replicates the paper-intensive international trade finance process as an electronic decentralised ledger, that gives all the participating entities, including banks, the ability to access a single source of information.
It also enables them to track documentation and authenticate ownership of assets digitally, as an un-alterable ledger in real time.
Indian IT service providers like Infosys and TCS have been throwing their weight around blockchain technology. Both these companies are using blockchain mechanism to create core banking platforms for banks.
Where can it be used?
Use of blockchain technology is not limited to the financial sector. It is being used in many other areas. For example, Honduras government has put all land records on a public ledger - the blockchain. The minute there is a change in ownership, it gets recorded publicly.
The Australian Securities Exchange (ASX) announced this year that it would move Australia's equities clearing and settlement system on to blockchain
In October 2015, Nasdaq unveiled Linq, a solution enabling private companies to digitally represent share ownership using blockchain-based technology.
Is it safe?
The USP of blockchain is that it allows two parties to execute a transaction without any intermediary. Blockchain allows financial institutions to execute and verify transactions discretely without any human intervention.
The electronic ledger of transactions is continuously maintained and verified in 'blocks' of records. With the help of cryptography, the tamper-proof ledger is shared between parties on computer servers.
Experts believe that blockchain architecture can significantly bring down the costs and reduce inefficiencies in the financial sector.
ICICI Bank on Wednesday announced that it has successfully executed transactions in international trade finance and remittances using blockchain technology in partnership with a Dubai based bank Emirates NBD.
In 2008, a cryptographer who goes by the pseudonym Satoshi Nakamoto created a crypto-currency called bitcoin. Bitcoin is digital currency that allows you to perform peer-to-peer transactions without the help of a third party such as banks.
Although the enthusiasm around Bitcoin waned after several governments refused to recognise the crypto-currency, but the underlying technology of blockchain has been hailed by the banking sector.
What is blockchain technology?
A blockchain is an anonymous online ledger that uses data structure to simplify the way we transact. Blockchain allows users to manipulate the ledger in a secure way without the help of a third party.
A bank's ledger is connected to a centralised network. However, a blockchain is anonymous, protecting the identities of the users. This makes blockchain more secure to carry transactions.
The algorithm used in blockchain reduces the dependence on people to verify the transactions. The technology used for recording transactions has the potential to disrupt the financial system.
How it works?
According to Sunny Ray, Co-founder and President of India's leading bitcoin blockchain company, Unocoin, "blockchain enables two entities that do not know each other to agree that something is true without the need of a third party. As opposed to writing entries into a single sheet of paper, a blockchain is a distributed database that takes a number of inputs and places them into a block. Each block is then 'chained' to the next block using a cryptographic signature. This allows blockchains to be used as a ledger which is accessible by anyone with permission to do so. If everyone in the process is pre-selected, the ledger is termed 'permissioned'. If the process is open to the whole world, the ledger is called unpermissioned."
Why are banks interested?
All major banks are experimenting with blockchain as they can use it for money transfers, record keeping and other back-end functions.
The blockchain application replicates the paper-intensive international trade finance process as an electronic decentralised ledger, that gives all the participating entities, including banks, the ability to access a single source of information.
It also enables them to track documentation and authenticate ownership of assets digitally, as an un-alterable ledger in real time.
Indian IT service providers like Infosys and TCS have been throwing their weight around blockchain technology. Both these companies are using blockchain mechanism to create core banking platforms for banks.
Where can it be used?
Use of blockchain technology is not limited to the financial sector. It is being used in many other areas. For example, Honduras government has put all land records on a public ledger - the blockchain. The minute there is a change in ownership, it gets recorded publicly.
The Australian Securities Exchange (ASX) announced this year that it would move Australia's equities clearing and settlement system on to blockchain
In October 2015, Nasdaq unveiled Linq, a solution enabling private companies to digitally represent share ownership using blockchain-based technology.
Is it safe?
The USP of blockchain is that it allows two parties to execute a transaction without any intermediary. Blockchain allows financial institutions to execute and verify transactions discretely without any human intervention.
The electronic ledger of transactions is continuously maintained and verified in 'blocks' of records. With the help of cryptography, the tamper-proof ledger is shared between parties on computer servers.
Experts believe that blockchain architecture can significantly bring down the costs and reduce inefficiencies in the financial sector.
Few Jio customers being asked to pay for data
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Reliance Jio was seen as major market disruptor in the telecom sector but with time, the network is facing more and more issues. Apart from the usual call-drops and no-service disclaimers, the new entrant to the telecom sector is allegedly asking users to recharge their account or pay the bill in case it's a post paid connection.
According to Jio's 'Welcome Offer', users are supposed to get free high speed data up to 4GB per day after which the speeds decreases to 128kbps. However, according to a report by EtTelecom, Jio is asking users to "Sign into network" and as soon as that is done, the user gets a message saying, "You have exhausted your account balance/Credit limit."
Recently, Reliance Jio claimed to have enrolled 16 million new users to the network which is a record breaking feat for the company. Despite the high level of preparedness, the company is not able to provide the a flawless services.
Call drops were credited to other networks that did not provide ample interconnection points for Reliance Jio users. When that is getting a fix, users started complaining about sudden network-drops. Another major problem being registered is the painfully slow internet speeds, so much so that users are going ahead and comparing it to 2G speed.
The Welcome Offer from Jio has promised free high speed data, free national calls and unlimited national messages (9000). The offer will end on December 31, after which users will have to opt for Jio's data plans.
Reliance Jio was seen as major market disruptor in the telecom sector but with time, the network is facing more and more issues. Apart from the usual call-drops and no-service disclaimers, the new entrant to the telecom sector is allegedly asking users to recharge their account or pay the bill in case it's a post paid connection.
According to Jio's 'Welcome Offer', users are supposed to get free high speed data up to 4GB per day after which the speeds decreases to 128kbps. However, according to a report by EtTelecom, Jio is asking users to "Sign into network" and as soon as that is done, the user gets a message saying, "You have exhausted your account balance/Credit limit."
Recently, Reliance Jio claimed to have enrolled 16 million new users to the network which is a record breaking feat for the company. Despite the high level of preparedness, the company is not able to provide the a flawless services.
Call drops were credited to other networks that did not provide ample interconnection points for Reliance Jio users. When that is getting a fix, users started complaining about sudden network-drops. Another major problem being registered is the painfully slow internet speeds, so much so that users are going ahead and comparing it to 2G speed.
The Welcome Offer from Jio has promised free high speed data, free national calls and unlimited national messages (9000). The offer will end on December 31, after which users will have to opt for Jio's data plans.
Ruia bros set to sell off Essar Oil for $ 13 bn
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A consortium led by Russian oil major Rosneft will acquire the Ruia family-controlled Essar Oil in a $12-$13 billion deal, according to reliable sources.
Russia is keen to get access to the Indian market at a time when its own economy is stagnant, hit by Western sanctions and low oil prices.
Rosneft will get 49 percent and the two investors -- European trader Trafigura and a Russian fund UCP -- will hold the remaining 49 percent in equal parts. The valuation includes about $4.5 billion in assumed debt.
No immediate comment was available from the companies involved.
Essar Oil, part of a steel-to-ports conglomerate controlled by the billionaire brothers Shashi and Ravi Ruia, has faced pressure from creditors to reduce borrowing that some analysts estimate at more than $14 billion.
The Ruia family, which currently owns Essar Oil, will keep a token 2 per cent stake after the deal is signed during Russian President Vladimir Putin's visit to Goa for the BRICS Summit on October 15-16, sources said.
They said originally Ruias wanted to shed only 49 per cent in favour of Rosneft but the USD 3.5 billion they would have got from the Russian company wasn't enough to pay of the USD 4.5 billion debt on the company's books.
A larger 74 per cent stake was offered to Rosneft but that idea was dropped as the Russian company faces US sanctions and by a virtue of its majority stake Essar Oil too would have come on that list.
At this stage, Trafigura was roped in and offered 24 per cent stake. Trafigura, which has close ties to Rosneft, was to finance its acquisition by taking loan from Russia's VTB Capital, part of state-controlled bank VTB.
Sources said Trafigura is likely to take 24.5 per cent stake and UCP a matching interest.
Essar Oil operates a 400,000 barrel-per-day oil refinery on India's west coast and sells fuels through its 2,470 filling stations in India.
The deal will also include the Vadinar port and a power plant associated with the refinery, said one of the sources.
Through this acquisition, Rosneft will not only get an additional outlet for its oil amid supply glut but will also get to market fuels in the world's fastest growing major economy.
A consortium led by Russian oil major Rosneft will acquire the Ruia family-controlled Essar Oil in a $12-$13 billion deal, according to reliable sources.
Russia is keen to get access to the Indian market at a time when its own economy is stagnant, hit by Western sanctions and low oil prices.
Rosneft will get 49 percent and the two investors -- European trader Trafigura and a Russian fund UCP -- will hold the remaining 49 percent in equal parts. The valuation includes about $4.5 billion in assumed debt.
No immediate comment was available from the companies involved.
Essar Oil, part of a steel-to-ports conglomerate controlled by the billionaire brothers Shashi and Ravi Ruia, has faced pressure from creditors to reduce borrowing that some analysts estimate at more than $14 billion.
The Ruia family, which currently owns Essar Oil, will keep a token 2 per cent stake after the deal is signed during Russian President Vladimir Putin's visit to Goa for the BRICS Summit on October 15-16, sources said.
They said originally Ruias wanted to shed only 49 per cent in favour of Rosneft but the USD 3.5 billion they would have got from the Russian company wasn't enough to pay of the USD 4.5 billion debt on the company's books.
A larger 74 per cent stake was offered to Rosneft but that idea was dropped as the Russian company faces US sanctions and by a virtue of its majority stake Essar Oil too would have come on that list.
At this stage, Trafigura was roped in and offered 24 per cent stake. Trafigura, which has close ties to Rosneft, was to finance its acquisition by taking loan from Russia's VTB Capital, part of state-controlled bank VTB.
Sources said Trafigura is likely to take 24.5 per cent stake and UCP a matching interest.
Essar Oil operates a 400,000 barrel-per-day oil refinery on India's west coast and sells fuels through its 2,470 filling stations in India.
The deal will also include the Vadinar port and a power plant associated with the refinery, said one of the sources.
Through this acquisition, Rosneft will not only get an additional outlet for its oil amid supply glut but will also get to market fuels in the world's fastest growing major economy. General Awareness
GENERAL AWARENESS PRACTICE QUESTIONS FOR IBPS EXAMS
-
1. RBI updated KYC norms on 2 September 2016. In this context, KYC stands for ......
1) Know Your Copy
2) Know Your Custom
3) Know Your Customer
4) Know Your Credential
5) Know Your Cashier
2. Which of the following statement is correct regarding KYC?
1) KYC is a process by which banks obtain information about the identity and address of the customers.
2) KYC procedure is to be completed by the banks while opening accounts.
3) Banks required periodically update their customers' KYC details.
4) KYC process helps to ensure that banks' services are not misused.
5) All of above
3. As per RBI update rules of KYC, what are the KYC requirements for opening a bank account?
1) Proof of identity
2) Proof of address
3) Recent photograph
4) None of them required
5) All of above required
4. Which of the following documents is not one of the 'proof of identity' in KYC as per RBI directions?
1) PAN Card
2) Aadhar Card
3) Birth Chart issued by famous Astrologer
4) NREGA Job Card
5) Voters' Identity Card
5. Government of India has notified six documents as OVDs for the purpose of producing proof of identity. In this context, OVD stands for ......
1) Officially Voter Documents
2) Officially Valid Documents
3) Officially Void Documents
4) One Valid Documents
5) Over Valid Documents
6. If any person does not have any of the listed documents named as 'proof of identity', whether that person can open a bank account?
1) No, he cannot open account.
2) Yes, he can open account and after 10 days he can submit Identity Proof.
3) Yes, the customer can open account in RBI, as RBI can give current account to individuals effective from 1 July 2016.
4) Yes, he can still open a bank account known as 'Small Account' by submitting recent photograph and putting signature or thumb impression in the presence of the bank official.
5) Yes, by taking special permission from State Government.
7. Usually Small Accounts will have limitations. As per the limitations, at any point of time, the maximum balance in the account should not exceed ..........
1) Rs.50,000
2) Rs.1,00,000
3) Rs.1,000
4) Rs.10,00,000
5) Rs.75,000
8. Total credits in one year should not exceed .... in Small Accounts as per the order of RBI.
1) Rs.10,00,000
2) Rs.8,00,000
3) Rs.1,000
4) Rs.5,00,000
5) Rs.1,00,000
9. In the Small Accounts, total withdrawal and transfers in a month should not exceed .......
1) Rs.1000
2) Rs.20,000
3) Rs.50,000
4) Rs.10,000
5) Rs.1,00,000
10. Whether Foreign remittances can be credited in Small Accounts?
1) Yes, but up to $ 1000 per month
2) Yes, but up to $ 50 per month
3) No
4) Yes
5) None of above option correct
11. Small Accounts remain operational initially for a period of ......... if the customer does not provide any of the valid documents and thereafter, for a further period of 12 months if the holder of such an account provides evidence to the bank of having applied for any of the officially valid documents.
1) 6 months
2) 3 months
3) 18 months
4) 12 months
5) 24 months
12. Which of the following document cannot be produced as Proof of Address (PoA) as per the updated KYC rules?
1) Utility bill, which is not more than two months old, of any service provider (electricity, telephone, water bill etc).
2) Bank account or Post Office savings bank account statement.
3) Any hotel bill proved staying of 3 days.
4) Property or Municipal Tax receipt.
5) Documents issued by Government departments of foreign jurisdictions or letter issued by Foreign Embassy or Mission in India.
13. Banks required to categorise their customers based on risk assessment in three categories as per depending on their AML risk assessment as per the RBI directions. These three categories are ........
1) Rich, Poor and Middle Class People
2) Low, Medium and High
3) Brown, Black and Red
4) A, B and C
5) Territorial, Extra Territorial and None
14. e-KYC refers to electronic KYC. e-KYC is possible only for those who have Aadhaar numbers. Aadhar Card issued by Unique Identification Authority of India (UIDAI). Who was appointed as the part-time Chairman of UIDAI on 8 September 2016?
1) U.K.Sinha
2) T.S. Vijayan
3) Devendra Sikri
4) Alka Sirohi
5) J. Satyanarayana
15. APB implemented by National Payments Corporation of India (NPCI), which uses Aadhaar number as a central key for electronically channelizing the Government subsidies and benefits. APB stands for .......
1) Aadhaar Payment Bridge
2) Aadhaar Point Bridge
3) Aadhaar pool Bridge
4) Aadhaar Payment Book
5) Aadhaar Payment Brand
16. As per the order of RBI, KYC exercise needs to be done for all those who want to make domestic remittances of ......... and above and all foreign remittances.
1) Rs.50,000
2) Rs.5,00,000
3) Rs.10,000
4) Rs.1,000
5) Rs.5,000
17. Banks can close the account of customer, if customer does not provide the KYC documents at the time of periodic updation. Before closing the account, the bank may, however, impose 'partial freezing', Banks have to give due notice of three month sand reminder for further period of ........
1) Six months
2) Three months
3) Two months
4) Ten months
5) Eight months
18. Which bank has bagged four awards for inclusive insurance for 2016 from Skoch Group?
1) Telangana Gramin Bank
2) Puduvai Bharathiyar Grama Bank
3) Karnataka Vikas Grameena Bank
4) Andhra Pradesh Gramin Vikas Bank
5) Pradhama Gramin Bank
19. India signed MoU with African Development Bank (AfDB) Group to host the next annual meetings at Mahatma Gandhi Convention Centre, Ahmedabad from 22nd May to 26th May 2017. Where is the head quarter of African Development Bank (AfDB) Group?
1) Algiers (Algeria)
2) Cairo (Egypt)
3) Port Louis (Mauritius)
4) Abidjan (Ivory Coast)
5) Victoria (Seychelles)
20. In which year, African Development Bank (AfDB) was established?
1)1945
2) 1966
3) 2015
4) 1964
5) 2016
21. How many member nations are there in African Development Bank (AfDB)?
1) 189
2) 67
3) 78
4) 57
5) 5
22. Who is the Nigerian National is the present head of African Development Bank (AfDB)?
1) Jim Yong Kim
2) Take Hiko Nakao
3) Akinwumi Adesina
4) Jin Liquin
5) K V Kamath
23. Which scheme recently notified to offer financial incentives to employers on 1 September 2016?
1) National Apprenticeship Policy Scheme.
2) National Appendix Promotion Scheme.
3) National Apprenticeship Promotion Scheme.
4) National Apprenticeship Price Scheme.
5) Ninth Apprenticeship Promotion Scheme.
24. Under National Apprenticeship Promotion Scheme (NAPS), an outlay of Rs.10,000 crore granted with a target of 50 lakh apprentices to be trained by ......
1) 2019-20
2) 2018-19
3) 2021-22
4) 2024-25
5) 2017-18
25. Indian Railway will provide insurance cover up to 10 lakh rupees for passengers travelling on e- ticket after paying a premium of ...
1) Rs.1
2) 25 paise
3) Rs.2
4) 92 paisa
5) Rs.5
26. For insuring its passengers, the Indian Railways selected three insurance companies. They are Shriram General Insurance, ICICI Lombard General Insurance and ......
1) Royal Sundaram General Insurance
2) LIC
3) Max Bhupa Health Insurance
4) HDFC Ergo
5) Bajaj Allianz
27. Nadia Murad Basee Taha appointed as UN Goodwill Ambassador for the Dignity of Survivors of Human Trafficking of the UN Office on Drugs and Crime (UNODC). She belongs to ........
1) Pakistan
2) Afghanistan
3) Syria
4) Iraq
5) Lebanon
28. United Nations Office on Drugs and Crime (UNODC) was established in ........
1) 1997
2) 1945
3) 1946
4) 1964
5) 1972
29. Under Vanbandhu Kalyan Yojna scheme, Rs.4,800 crore funded irrigation and drinking water supply projects in tribal areas of .......... launched by PM on 17 September 2016.
1) Gujarat
2) Assam
3) Chhattisgarh
4) AP
5) Tamilnadu
30. World Economic Freedom Index 2016 declared. IndiaÃs rank in this index stood at....
1) 100
2) 120
3) 112
4) 10
5) 32
31. Which scheme was launched to support and promote organic farming and thereby improving soil health? The Scheme encourages farmers to adopt eco-friendly concept of cultivation and reduce their dependence on fertilizers and agricultural chemicals to improve yields.
1) The Pradhan Mantri Fasal Bima Yojana
2) eNAM
3) Paramaparagat Krishi Vikas Yojana
4) Pradhan Mantri Krishi Sinchai Yojana
5) Kisan Vikas Patra
32. As per latest RBI report, which state has topped in attracting industrial investments in 2015-16 with an investment of Rs 21,914 crore out of the Rs 1,38,700 crore Gross Investments across India?
1) Andhra Pradesh
2) Gujarat
3) Maharashtra
4) Tamil nadu
5) Karnataka
33. Who headed the committee that was constituted to look into the alternatives to pellet guns to disperse crowd?
1) Madhukar Guphta
2) Traun Ramadorai
3) TVSN Prasad
4) Ratan P watal
5) P.K.Sinha
34. Theme of the 'International Day for the Preservation of the Ozone Layer' 2016 is....
1) Ozone and climate: Returned by a world united
2) 'Ozone and Atmosphere: Restored by a world united'
3) 'Ozone and Oxygen: Restored by a world united'
4) 'Ozone and climate: Targeted by a world united'
5) 'Ozone and climate: Restored by a world united'
35. Water Resources Ministry and Agriculture Ministry on 16 September 2016 made MoU to develop organic farming in over 5000 villages along the banks of ......... river in each Gram Panchayat representing a cluster under Paramaparagat Krishi Vikas Yojana.
1) Godavari
2) Krishna
3) Ganga
4) Kaveri
5) Narmada
Answers:
1-3, 2-5, 3-5, 4-3, 5-2, 6-4, 7-1, 8-5, 9-4, 10-3
11-4, 12-3, 13-2, 14-5, 15-1, 16-1, 17-2, 18-3, 19-4, 20-4
21-3, 22-3, 23-3, 24-1, 25-4, 26-1, 27-4, 28-1, 29-1, 30-3
31-3, 32-1, 33-3, 34-5, 35-3
1. RBI updated KYC norms on 2 September 2016. In this context, KYC stands for ......
1) Know Your Copy
2) Know Your Custom
3) Know Your Customer
4) Know Your Credential
5) Know Your Cashier
2. Which of the following statement is correct regarding KYC?
1) KYC is a process by which banks obtain information about the identity and address of the customers.
2) KYC procedure is to be completed by the banks while opening accounts.
3) Banks required periodically update their customers' KYC details.
4) KYC process helps to ensure that banks' services are not misused.
5) All of above
3. As per RBI update rules of KYC, what are the KYC requirements for opening a bank account?
1) Proof of identity
2) Proof of address
3) Recent photograph
4) None of them required
5) All of above required
4. Which of the following documents is not one of the 'proof of identity' in KYC as per RBI directions?
1) PAN Card
2) Aadhar Card
3) Birth Chart issued by famous Astrologer
4) NREGA Job Card
5) Voters' Identity Card
5. Government of India has notified six documents as OVDs for the purpose of producing proof of identity. In this context, OVD stands for ......
1) Officially Voter Documents
2) Officially Valid Documents
3) Officially Void Documents
4) One Valid Documents
5) Over Valid Documents
6. If any person does not have any of the listed documents named as 'proof of identity', whether that person can open a bank account?
1) No, he cannot open account.
2) Yes, he can open account and after 10 days he can submit Identity Proof.
3) Yes, the customer can open account in RBI, as RBI can give current account to individuals effective from 1 July 2016.
4) Yes, he can still open a bank account known as 'Small Account' by submitting recent photograph and putting signature or thumb impression in the presence of the bank official.
5) Yes, by taking special permission from State Government.
7. Usually Small Accounts will have limitations. As per the limitations, at any point of time, the maximum balance in the account should not exceed ..........
1) Rs.50,000
2) Rs.1,00,000
3) Rs.1,000
4) Rs.10,00,000
5) Rs.75,000
8. Total credits in one year should not exceed .... in Small Accounts as per the order of RBI.
1) Rs.10,00,000
2) Rs.8,00,000
3) Rs.1,000
4) Rs.5,00,000
5) Rs.1,00,000
9. In the Small Accounts, total withdrawal and transfers in a month should not exceed .......
1) Rs.1000
2) Rs.20,000
3) Rs.50,000
4) Rs.10,000
5) Rs.1,00,000
10. Whether Foreign remittances can be credited in Small Accounts?
1) Yes, but up to $ 1000 per month
2) Yes, but up to $ 50 per month
3) No
4) Yes
5) None of above option correct
11. Small Accounts remain operational initially for a period of ......... if the customer does not provide any of the valid documents and thereafter, for a further period of 12 months if the holder of such an account provides evidence to the bank of having applied for any of the officially valid documents.
1) 6 months
2) 3 months
3) 18 months
4) 12 months
5) 24 months
12. Which of the following document cannot be produced as Proof of Address (PoA) as per the updated KYC rules?
1) Utility bill, which is not more than two months old, of any service provider (electricity, telephone, water bill etc).
2) Bank account or Post Office savings bank account statement.
3) Any hotel bill proved staying of 3 days.
4) Property or Municipal Tax receipt.
5) Documents issued by Government departments of foreign jurisdictions or letter issued by Foreign Embassy or Mission in India.
13. Banks required to categorise their customers based on risk assessment in three categories as per depending on their AML risk assessment as per the RBI directions. These three categories are ........
1) Rich, Poor and Middle Class People
2) Low, Medium and High
3) Brown, Black and Red
4) A, B and C
5) Territorial, Extra Territorial and None
14. e-KYC refers to electronic KYC. e-KYC is possible only for those who have Aadhaar numbers. Aadhar Card issued by Unique Identification Authority of India (UIDAI). Who was appointed as the part-time Chairman of UIDAI on 8 September 2016?
1) U.K.Sinha
2) T.S. Vijayan
3) Devendra Sikri
4) Alka Sirohi
5) J. Satyanarayana
15. APB implemented by National Payments Corporation of India (NPCI), which uses Aadhaar number as a central key for electronically channelizing the Government subsidies and benefits. APB stands for .......
1) Aadhaar Payment Bridge
2) Aadhaar Point Bridge
3) Aadhaar pool Bridge
4) Aadhaar Payment Book
5) Aadhaar Payment Brand
16. As per the order of RBI, KYC exercise needs to be done for all those who want to make domestic remittances of ......... and above and all foreign remittances.
1) Rs.50,000
2) Rs.5,00,000
3) Rs.10,000
4) Rs.1,000
5) Rs.5,000
17. Banks can close the account of customer, if customer does not provide the KYC documents at the time of periodic updation. Before closing the account, the bank may, however, impose 'partial freezing', Banks have to give due notice of three month sand reminder for further period of ........
1) Six months
2) Three months
3) Two months
4) Ten months
5) Eight months
18. Which bank has bagged four awards for inclusive insurance for 2016 from Skoch Group?
1) Telangana Gramin Bank
2) Puduvai Bharathiyar Grama Bank
3) Karnataka Vikas Grameena Bank
4) Andhra Pradesh Gramin Vikas Bank
5) Pradhama Gramin Bank
19. India signed MoU with African Development Bank (AfDB) Group to host the next annual meetings at Mahatma Gandhi Convention Centre, Ahmedabad from 22nd May to 26th May 2017. Where is the head quarter of African Development Bank (AfDB) Group?
1) Algiers (Algeria)
2) Cairo (Egypt)
3) Port Louis (Mauritius)
4) Abidjan (Ivory Coast)
5) Victoria (Seychelles)
20. In which year, African Development Bank (AfDB) was established?
1)1945
2) 1966
3) 2015
4) 1964
5) 2016
21. How many member nations are there in African Development Bank (AfDB)?
1) 189
2) 67
3) 78
4) 57
5) 5
22. Who is the Nigerian National is the present head of African Development Bank (AfDB)?
1) Jim Yong Kim
2) Take Hiko Nakao
3) Akinwumi Adesina
4) Jin Liquin
5) K V Kamath
23. Which scheme recently notified to offer financial incentives to employers on 1 September 2016?
1) National Apprenticeship Policy Scheme.
2) National Appendix Promotion Scheme.
3) National Apprenticeship Promotion Scheme.
4) National Apprenticeship Price Scheme.
5) Ninth Apprenticeship Promotion Scheme.
24. Under National Apprenticeship Promotion Scheme (NAPS), an outlay of Rs.10,000 crore granted with a target of 50 lakh apprentices to be trained by ......
1) 2019-20
2) 2018-19
3) 2021-22
4) 2024-25
5) 2017-18
25. Indian Railway will provide insurance cover up to 10 lakh rupees for passengers travelling on e- ticket after paying a premium of ...
1) Rs.1
2) 25 paise
3) Rs.2
4) 92 paisa
5) Rs.5
26. For insuring its passengers, the Indian Railways selected three insurance companies. They are Shriram General Insurance, ICICI Lombard General Insurance and ......
1) Royal Sundaram General Insurance
2) LIC
3) Max Bhupa Health Insurance
4) HDFC Ergo
5) Bajaj Allianz
27. Nadia Murad Basee Taha appointed as UN Goodwill Ambassador for the Dignity of Survivors of Human Trafficking of the UN Office on Drugs and Crime (UNODC). She belongs to ........
1) Pakistan
2) Afghanistan
3) Syria
4) Iraq
5) Lebanon
28. United Nations Office on Drugs and Crime (UNODC) was established in ........
1) 1997
2) 1945
3) 1946
4) 1964
5) 1972
29. Under Vanbandhu Kalyan Yojna scheme, Rs.4,800 crore funded irrigation and drinking water supply projects in tribal areas of .......... launched by PM on 17 September 2016.
1) Gujarat
2) Assam
3) Chhattisgarh
4) AP
5) Tamilnadu
30. World Economic Freedom Index 2016 declared. IndiaÃs rank in this index stood at....
1) 100
2) 120
3) 112
4) 10
5) 32
31. Which scheme was launched to support and promote organic farming and thereby improving soil health? The Scheme encourages farmers to adopt eco-friendly concept of cultivation and reduce their dependence on fertilizers and agricultural chemicals to improve yields.
1) The Pradhan Mantri Fasal Bima Yojana
2) eNAM
3) Paramaparagat Krishi Vikas Yojana
4) Pradhan Mantri Krishi Sinchai Yojana
5) Kisan Vikas Patra
32. As per latest RBI report, which state has topped in attracting industrial investments in 2015-16 with an investment of Rs 21,914 crore out of the Rs 1,38,700 crore Gross Investments across India?
1) Andhra Pradesh
2) Gujarat
3) Maharashtra
4) Tamil nadu
5) Karnataka
33. Who headed the committee that was constituted to look into the alternatives to pellet guns to disperse crowd?
1) Madhukar Guphta
2) Traun Ramadorai
3) TVSN Prasad
4) Ratan P watal
5) P.K.Sinha
34. Theme of the 'International Day for the Preservation of the Ozone Layer' 2016 is....
1) Ozone and climate: Returned by a world united
2) 'Ozone and Atmosphere: Restored by a world united'
3) 'Ozone and Oxygen: Restored by a world united'
4) 'Ozone and climate: Targeted by a world united'
5) 'Ozone and climate: Restored by a world united'
35. Water Resources Ministry and Agriculture Ministry on 16 September 2016 made MoU to develop organic farming in over 5000 villages along the banks of ......... river in each Gram Panchayat representing a cluster under Paramaparagat Krishi Vikas Yojana.
1) Godavari
2) Krishna
3) Ganga
4) Kaveri
5) Narmada
Answers:
1-3, 2-5, 3-5, 4-3, 5-2, 6-4, 7-1, 8-5, 9-4, 10-3
11-4, 12-3, 13-2, 14-5, 15-1, 16-1, 17-2, 18-3, 19-4, 20-4
21-3, 22-3, 23-3, 24-1, 25-4, 26-1, 27-4, 28-1, 29-1, 30-3
31-3, 32-1, 33-3, 34-5, 35-3
1) Know Your Copy
2) Know Your Custom
3) Know Your Customer
4) Know Your Credential
5) Know Your Cashier
2. Which of the following statement is correct regarding KYC?
1) KYC is a process by which banks obtain information about the identity and address of the customers.
2) KYC procedure is to be completed by the banks while opening accounts.
3) Banks required periodically update their customers' KYC details.
4) KYC process helps to ensure that banks' services are not misused.
5) All of above
3. As per RBI update rules of KYC, what are the KYC requirements for opening a bank account?
1) Proof of identity
2) Proof of address
3) Recent photograph
4) None of them required
5) All of above required
4. Which of the following documents is not one of the 'proof of identity' in KYC as per RBI directions?
1) PAN Card
2) Aadhar Card
3) Birth Chart issued by famous Astrologer
4) NREGA Job Card
5) Voters' Identity Card
5. Government of India has notified six documents as OVDs for the purpose of producing proof of identity. In this context, OVD stands for ......
1) Officially Voter Documents
2) Officially Valid Documents
3) Officially Void Documents
4) One Valid Documents
5) Over Valid Documents
6. If any person does not have any of the listed documents named as 'proof of identity', whether that person can open a bank account?
1) No, he cannot open account.
2) Yes, he can open account and after 10 days he can submit Identity Proof.
3) Yes, the customer can open account in RBI, as RBI can give current account to individuals effective from 1 July 2016.
4) Yes, he can still open a bank account known as 'Small Account' by submitting recent photograph and putting signature or thumb impression in the presence of the bank official.
5) Yes, by taking special permission from State Government.
7. Usually Small Accounts will have limitations. As per the limitations, at any point of time, the maximum balance in the account should not exceed ..........
1) Rs.50,000
2) Rs.1,00,000
3) Rs.1,000
4) Rs.10,00,000
5) Rs.75,000
8. Total credits in one year should not exceed .... in Small Accounts as per the order of RBI.
1) Rs.10,00,000
2) Rs.8,00,000
3) Rs.1,000
4) Rs.5,00,000
5) Rs.1,00,000
9. In the Small Accounts, total withdrawal and transfers in a month should not exceed .......
1) Rs.1000
2) Rs.20,000
3) Rs.50,000
4) Rs.10,000
5) Rs.1,00,000
10. Whether Foreign remittances can be credited in Small Accounts?
1) Yes, but up to $ 1000 per month
2) Yes, but up to $ 50 per month
3) No
4) Yes
5) None of above option correct
11. Small Accounts remain operational initially for a period of ......... if the customer does not provide any of the valid documents and thereafter, for a further period of 12 months if the holder of such an account provides evidence to the bank of having applied for any of the officially valid documents.
1) 6 months
2) 3 months
3) 18 months
4) 12 months
5) 24 months
12. Which of the following document cannot be produced as Proof of Address (PoA) as per the updated KYC rules?
1) Utility bill, which is not more than two months old, of any service provider (electricity, telephone, water bill etc).
2) Bank account or Post Office savings bank account statement.
3) Any hotel bill proved staying of 3 days.
4) Property or Municipal Tax receipt.
5) Documents issued by Government departments of foreign jurisdictions or letter issued by Foreign Embassy or Mission in India.
13. Banks required to categorise their customers based on risk assessment in three categories as per depending on their AML risk assessment as per the RBI directions. These three categories are ........
1) Rich, Poor and Middle Class People
2) Low, Medium and High
3) Brown, Black and Red
4) A, B and C
5) Territorial, Extra Territorial and None
14. e-KYC refers to electronic KYC. e-KYC is possible only for those who have Aadhaar numbers. Aadhar Card issued by Unique Identification Authority of India (UIDAI). Who was appointed as the part-time Chairman of UIDAI on 8 September 2016?
1) U.K.Sinha
2) T.S. Vijayan
3) Devendra Sikri
4) Alka Sirohi
5) J. Satyanarayana
15. APB implemented by National Payments Corporation of India (NPCI), which uses Aadhaar number as a central key for electronically channelizing the Government subsidies and benefits. APB stands for .......
1) Aadhaar Payment Bridge
2) Aadhaar Point Bridge
3) Aadhaar pool Bridge
4) Aadhaar Payment Book
5) Aadhaar Payment Brand
16. As per the order of RBI, KYC exercise needs to be done for all those who want to make domestic remittances of ......... and above and all foreign remittances.
1) Rs.50,000
2) Rs.5,00,000
3) Rs.10,000
4) Rs.1,000
5) Rs.5,000
17. Banks can close the account of customer, if customer does not provide the KYC documents at the time of periodic updation. Before closing the account, the bank may, however, impose 'partial freezing', Banks have to give due notice of three month sand reminder for further period of ........
1) Six months
2) Three months
3) Two months
4) Ten months
5) Eight months
18. Which bank has bagged four awards for inclusive insurance for 2016 from Skoch Group?
1) Telangana Gramin Bank
2) Puduvai Bharathiyar Grama Bank
3) Karnataka Vikas Grameena Bank
4) Andhra Pradesh Gramin Vikas Bank
5) Pradhama Gramin Bank
19. India signed MoU with African Development Bank (AfDB) Group to host the next annual meetings at Mahatma Gandhi Convention Centre, Ahmedabad from 22nd May to 26th May 2017. Where is the head quarter of African Development Bank (AfDB) Group?
1) Algiers (Algeria)
2) Cairo (Egypt)
3) Port Louis (Mauritius)
4) Abidjan (Ivory Coast)
5) Victoria (Seychelles)
20. In which year, African Development Bank (AfDB) was established?
1)1945
2) 1966
3) 2015
4) 1964
5) 2016
21. How many member nations are there in African Development Bank (AfDB)?
1) 189
2) 67
3) 78
4) 57
5) 5
22. Who is the Nigerian National is the present head of African Development Bank (AfDB)?
1) Jim Yong Kim
2) Take Hiko Nakao
3) Akinwumi Adesina
4) Jin Liquin
5) K V Kamath
23. Which scheme recently notified to offer financial incentives to employers on 1 September 2016?
1) National Apprenticeship Policy Scheme.
2) National Appendix Promotion Scheme.
3) National Apprenticeship Promotion Scheme.
4) National Apprenticeship Price Scheme.
5) Ninth Apprenticeship Promotion Scheme.
24. Under National Apprenticeship Promotion Scheme (NAPS), an outlay of Rs.10,000 crore granted with a target of 50 lakh apprentices to be trained by ......
1) 2019-20
2) 2018-19
3) 2021-22
4) 2024-25
5) 2017-18
25. Indian Railway will provide insurance cover up to 10 lakh rupees for passengers travelling on e- ticket after paying a premium of ...
1) Rs.1
2) 25 paise
3) Rs.2
4) 92 paisa
5) Rs.5
26. For insuring its passengers, the Indian Railways selected three insurance companies. They are Shriram General Insurance, ICICI Lombard General Insurance and ......
1) Royal Sundaram General Insurance
2) LIC
3) Max Bhupa Health Insurance
4) HDFC Ergo
5) Bajaj Allianz
27. Nadia Murad Basee Taha appointed as UN Goodwill Ambassador for the Dignity of Survivors of Human Trafficking of the UN Office on Drugs and Crime (UNODC). She belongs to ........
1) Pakistan
2) Afghanistan
3) Syria
4) Iraq
5) Lebanon
28. United Nations Office on Drugs and Crime (UNODC) was established in ........
1) 1997
2) 1945
3) 1946
4) 1964
5) 1972
29. Under Vanbandhu Kalyan Yojna scheme, Rs.4,800 crore funded irrigation and drinking water supply projects in tribal areas of .......... launched by PM on 17 September 2016.
1) Gujarat
2) Assam
3) Chhattisgarh
4) AP
5) Tamilnadu
30. World Economic Freedom Index 2016 declared. IndiaÃs rank in this index stood at....
1) 100
2) 120
3) 112
4) 10
5) 32
31. Which scheme was launched to support and promote organic farming and thereby improving soil health? The Scheme encourages farmers to adopt eco-friendly concept of cultivation and reduce their dependence on fertilizers and agricultural chemicals to improve yields.
1) The Pradhan Mantri Fasal Bima Yojana
2) eNAM
3) Paramaparagat Krishi Vikas Yojana
4) Pradhan Mantri Krishi Sinchai Yojana
5) Kisan Vikas Patra
32. As per latest RBI report, which state has topped in attracting industrial investments in 2015-16 with an investment of Rs 21,914 crore out of the Rs 1,38,700 crore Gross Investments across India?
1) Andhra Pradesh
2) Gujarat
3) Maharashtra
4) Tamil nadu
5) Karnataka
33. Who headed the committee that was constituted to look into the alternatives to pellet guns to disperse crowd?
1) Madhukar Guphta
2) Traun Ramadorai
3) TVSN Prasad
4) Ratan P watal
5) P.K.Sinha
34. Theme of the 'International Day for the Preservation of the Ozone Layer' 2016 is....
1) Ozone and climate: Returned by a world united
2) 'Ozone and Atmosphere: Restored by a world united'
3) 'Ozone and Oxygen: Restored by a world united'
4) 'Ozone and climate: Targeted by a world united'
5) 'Ozone and climate: Restored by a world united'
35. Water Resources Ministry and Agriculture Ministry on 16 September 2016 made MoU to develop organic farming in over 5000 villages along the banks of ......... river in each Gram Panchayat representing a cluster under Paramaparagat Krishi Vikas Yojana.
1) Godavari
2) Krishna
3) Ganga
4) Kaveri
5) Narmada
Answers:
1-3, 2-5, 3-5, 4-3, 5-2, 6-4, 7-1, 8-5, 9-4, 10-3
11-4, 12-3, 13-2, 14-5, 15-1, 16-1, 17-2, 18-3, 19-4, 20-4
21-3, 22-3, 23-3, 24-1, 25-4, 26-1, 27-4, 28-1, 29-1, 30-3
31-3, 32-1, 33-3, 34-5, 35-3
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