General Affairs
Agni 5 is India's most potent nuclear-capable missile ever, and here's why China is worried
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Agni 5, India's most lethal nuclear-capable missile was successfully test-fired at Kalam Island off Odisha coast. The surface-to-surface intercontinental missile can hit targets over 5,000km away, a fact that has neighbouring China worried.
China had even claimed that India is concealing facts about Agni 5 and that it can hit targets as far as 8,000km.
WHY CHINA IS ANXIOUS OVER AGNI 5
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India has at present in its armoury of Agni series, Agni-1 with 700 km range, Agni 2 with 2,000 km range, Agni 3 and Agni 4 with with 2,500 km to more than 3500 km range. After some few more trials, Agni 5 will be inducted into the services.
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Developed by the the Defence Research and Development Organisation (DRDO), the 17-metre long missile can carry a warhead of 1000kg.
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Being a ballistic missile, Agni 5 can not be detected by most of radar systems presently in use by defence forces across the globe.
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Agni 5, which weighs about 50 tonnes, can target almost entire China and Pakistan. It can even reach targets in Europe.
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Reports say that India has 110-120 nuclear-capable missiles in its armoury. Missiles such as Pritvi 2 (350km), Agni 1 (700km), Agni 2 (2000km) and Agni 3 (3000km) have already been inducted into country's defence system.
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Pakistan has about 130-140 nuclear-capable missiles which include Shaheen and Ghauri series of missiles which Islamabad has developed with the help of China and North Korea. Pakistan, however, is yet to add inter-continental missiles to its arsenal.
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On the other hand, China has a huge stock of nearly 250 nuclear missiles, including the (DongFeng) DF series. Unconfirmed reports say the DF 31A missile has the capability of striking targets over 10,000km.
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The Agni 5 is the most advanced version of the indigenously built Agni series, part of the Integrated Guided Missile Development Programme (IGMDP) that started in the 1960s and was once overseen by late President APJ Abdul Kalam.
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India joined the elite club of countries like US, Russia, the UK, France and China, which boast Inter-Continental Ballistic Missile (ICBM) capabilities, when it first tested the Agni-V in 2012.
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Agni 5's test launch is the first such missile test since India joined 34-nation Missile Technology Control Regime (MTCR) in July, 2016. MTCR membership enabled India to buy high-end missile technology and also enhance its joint ventures with Russia.
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DRDO is also working on Agni 6, which will have far more lethal strirking capabilities than its predecessor.
Agni 5, India's most lethal nuclear-capable missile was successfully test-fired at Kalam Island off Odisha coast. The surface-to-surface intercontinental missile can hit targets over 5,000km away, a fact that has neighbouring China worried.
China had even claimed that India is concealing facts about Agni 5 and that it can hit targets as far as 8,000km.
WHY CHINA IS ANXIOUS OVER AGNI 5
- India has at present in its armoury of Agni series, Agni-1 with 700 km range, Agni 2 with 2,000 km range, Agni 3 and Agni 4 with with 2,500 km to more than 3500 km range. After some few more trials, Agni 5 will be inducted into the services.
- Developed by the the Defence Research and Development Organisation (DRDO), the 17-metre long missile can carry a warhead of 1000kg.
- Being a ballistic missile, Agni 5 can not be detected by most of radar systems presently in use by defence forces across the globe.
- Agni 5, which weighs about 50 tonnes, can target almost entire China and Pakistan. It can even reach targets in Europe.
- Reports say that India has 110-120 nuclear-capable missiles in its armoury. Missiles such as Pritvi 2 (350km), Agni 1 (700km), Agni 2 (2000km) and Agni 3 (3000km) have already been inducted into country's defence system.
- Pakistan has about 130-140 nuclear-capable missiles which include Shaheen and Ghauri series of missiles which Islamabad has developed with the help of China and North Korea. Pakistan, however, is yet to add inter-continental missiles to its arsenal.
- On the other hand, China has a huge stock of nearly 250 nuclear missiles, including the (DongFeng) DF series. Unconfirmed reports say the DF 31A missile has the capability of striking targets over 10,000km.
- The Agni 5 is the most advanced version of the indigenously built Agni series, part of the Integrated Guided Missile Development Programme (IGMDP) that started in the 1960s and was once overseen by late President APJ Abdul Kalam.
- India joined the elite club of countries like US, Russia, the UK, France and China, which boast Inter-Continental Ballistic Missile (ICBM) capabilities, when it first tested the Agni-V in 2012.
- Agni 5's test launch is the first such missile test since India joined 34-nation Missile Technology Control Regime (MTCR) in July, 2016. MTCR membership enabled India to buy high-end missile technology and also enhance its joint ventures with Russia.
- DRDO is also working on Agni 6, which will have far more lethal strirking capabilities than its predecessor.
Why experts believe Modi's crackdown on 'benami' properties will clean up real estate sector
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Prime Minister Narendra Modi's vow to take on benami, or nameless properties, can bring greater transparency to a notoriously opaque sector and help check prices if a new law is implemented properly, experts said on Monday.
The practice of buying a property in the name of someone other than the buyer has been widely misused to buy real estate with undeclared income and with fake names and identities to avoid paying tax.
1. It is estimated benami properties worth billions of dollars are held under fictitious names across India, bypassing laws to check ownership and depriving states of valuable revenue that could be spent on development and welfare schemes.
2. A 1988 law on such properties was amended this year to ban illegal benami transactions with stricter punishments including imprisonment and a fine of up to a fourth of the property's fair market value. These properties can also be confiscated.
3. "We are going to take action against the properties which are purchased in the name of others. It is the property of the country," Modi said in his monthly radio address on Sunday.
4. "This law will be put to use in the coming days to fight corruption," he said.
5. Property as defined under the 1988 law includes not only land and homes, but also assets such as gold, stocks and bank deposits.
6. "If the new law is implemented properly, there will be greater transparency in the real estate sector, there will be less corruption, and we may see a correction in prices," said Vinod Sampat, a property lawyer in Mumbai.
7. "But these transactions are hard to track, and the government has a poor record of implementation. While the intention is good, it remains to be seen if the law can be implemented properly," he said.
8. A series of slum evictions in cities including Delhi has put the spotlight on an acute housing shortage in urban India.
9. About a third of the country's 1.25 billion population lives in cities, with numbers rising as tens of thousands of people leave villages to seek better prospects.
10. A government plan to provide housing for all by 2022 is meant to create 20 million new urban housing units and 30 million rural homes. But the government has been criticised for the slow pace of implementation.
11. Going after benami properties can help accelerate the pace of implementing the government's plan, said Anuj Puri, chairman of real estate firm Jones Lang LaSalle India.
12. "When titles are clear and transactions transparent, the confidence of lenders increases, so we will see a pickup in lending to buyers," he said.
13. "This will increase the supply of residential real estate."
14. The focus on benami properties comes on the heels of a crackdown on undeclared "black money" by withdrawing high-value rupee bills from circulation.
Prime Minister Narendra Modi's vow to take on benami, or nameless properties, can bring greater transparency to a notoriously opaque sector and help check prices if a new law is implemented properly, experts said on Monday.
The practice of buying a property in the name of someone other than the buyer has been widely misused to buy real estate with undeclared income and with fake names and identities to avoid paying tax.
1. It is estimated benami properties worth billions of dollars are held under fictitious names across India, bypassing laws to check ownership and depriving states of valuable revenue that could be spent on development and welfare schemes.
2. A 1988 law on such properties was amended this year to ban illegal benami transactions with stricter punishments including imprisonment and a fine of up to a fourth of the property's fair market value. These properties can also be confiscated.
3. "We are going to take action against the properties which are purchased in the name of others. It is the property of the country," Modi said in his monthly radio address on Sunday.
4. "This law will be put to use in the coming days to fight corruption," he said.
5. Property as defined under the 1988 law includes not only land and homes, but also assets such as gold, stocks and bank deposits.
6. "If the new law is implemented properly, there will be greater transparency in the real estate sector, there will be less corruption, and we may see a correction in prices," said Vinod Sampat, a property lawyer in Mumbai.
7. "But these transactions are hard to track, and the government has a poor record of implementation. While the intention is good, it remains to be seen if the law can be implemented properly," he said.
8. A series of slum evictions in cities including Delhi has put the spotlight on an acute housing shortage in urban India.
9. About a third of the country's 1.25 billion population lives in cities, with numbers rising as tens of thousands of people leave villages to seek better prospects.
10. A government plan to provide housing for all by 2022 is meant to create 20 million new urban housing units and 30 million rural homes. But the government has been criticised for the slow pace of implementation.
11. Going after benami properties can help accelerate the pace of implementing the government's plan, said Anuj Puri, chairman of real estate firm Jones Lang LaSalle India.
12. "When titles are clear and transactions transparent, the confidence of lenders increases, so we will see a pickup in lending to buyers," he said.
13. "This will increase the supply of residential real estate."
14. The focus on benami properties comes on the heels of a crackdown on undeclared "black money" by withdrawing high-value rupee bills from circulation.
Ram naam japna, gareeb ka maal apna: Rahul's charge against PM Modi over demnonetisation
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Congress vice president Rahul Gandhi, continuing his personal attack on Prime Minister Narendra Modi over demonetisation move, today alleged that it had been implemented to snatch money of 99 per cent of the common people and benefit just 1 per cent of super rich.
- Speaking in a public rally in Baran, Rajasthan, Rahul likened the situation to a song of Bollywood blockbluster Namak Halaal starring superstar Amitabh Bachchan. Reading out the lines from the song, he modified a word or two and said, "Aapka to lagta hai bus yahi sapna, Ram naam japna gareeb ka maal apna."
- He said the demonetisation initiative was against the poor, farmers, labourers and women. "Demonetisation is not anti-black money. It's anti-poor," he said.
- He said farmers commit suicide everyday in the country but still the government did not pay heed to their demands put forward by us.
- Rahul said, "One per cent super rich people have 60 per cent money in India. These are the same people who fly in private planes... who have accounts in Switzerland, who Modi gets contracts. What Modi does in Delhi, Vasundhara does in Rajasthan."
- He said the UPA government had introduced the Land Acquisition Bill for farmers to get right price of their land. However, he alleged that Modi tried to stop it thrice by Ordinance.
- The Congress vice president claimed that 94 per cent of the black money was stashed away in Swiss bank accounts. He accused Modi of targeting the remaining 6 per cent. "Does anyone know why he does not want to target the 94 per cent? Narendra Modi promised during last elections that he will bring back that black money. Can anyone tell me if there is anyone who has got Rs 15 lakh in their account out of that money?" he said.
- Continuing his tirade against demonetisation and cashless economy, Rahul said Modi talks about cashless economy but a farmer does not buy fertilisers using his mobile. "Modiji, aapke is notebandi ke yagya mei Hindustan aur Rajasthan ke kisaan ki bali chadhi hai; aapne unka cash jala diya (Modiji, the farmers have been sacrificed for your yajna. You have burnt their cash," he said.
- He alleged that Modi could not take back money from the super rich who have defaulted on bank loans because their money goes into his marketing. The Swiss government has sent a list of Swiss Bank account holders to the Indian government, he said, and asked why did Modi not put them across in Parliament.
- Coining a slogan, Rahul said the motto of the Modi government was "Gareebon ka paisa kheencho, ameeron ko seencho (Snatch away money from the poor and nurse the rich)".
- He claimed that the people will not get your money back even after December 30. Instead, it will stay in banks for six to seven months. The money would be used to waive off the loans off the super rich, he added.
- He reiterated that Paytm means "Pay to Modi". He quoted Congress leader from Gujarat Shankarsinh Vaghela as saying that Modi was a "super planner". Vaghela formed this opinion after having worked with Modi in Gujarat for 20-25 years.
- Rahul sought to dismiss Modi's claim that demonetisation had curbed terrorism. He said Rs 2000 notes were found on terrorist who was killed by the Army. Hence, Modi's position that the new currency will help in checking terrorism has been deflated, he said.
- He again raised the allegation against PM Modi of personal corruption. "I had asked a few questions to Modi ji in my last few speeches on benami properties and frequent change in demonetisation rules. He (Modi) replied to few of my questions but didn't reply on the corruption allegations against him. Hence, I will ask him again," he said, referring to the allegations of a couple of companies making payments to Modi when the latter was the Gujarat CM.
- "Aap jitna mera mazak udaana chahate hai kariye lekin mere sawaloon ka jawab de dijiye kyunki yeh main nahi deshwasi pooch rahe hain (Modi can make as much fun of me as he likes but respond to my questions. Because not me but the countrymen are asking them)," he said.
Congress vice president Rahul Gandhi, continuing his personal attack on Prime Minister Narendra Modi over demonetisation move, today alleged that it had been implemented to snatch money of 99 per cent of the common people and benefit just 1 per cent of super rich. - Speaking in a public rally in Baran, Rajasthan, Rahul likened the situation to a song of Bollywood blockbluster Namak Halaal starring superstar Amitabh Bachchan. Reading out the lines from the song, he modified a word or two and said, "Aapka to lagta hai bus yahi sapna, Ram naam japna gareeb ka maal apna."
- He said the demonetisation initiative was against the poor, farmers, labourers and women. "Demonetisation is not anti-black money. It's anti-poor," he said.
- He said farmers commit suicide everyday in the country but still the government did not pay heed to their demands put forward by us.
- Rahul said, "One per cent super rich people have 60 per cent money in India. These are the same people who fly in private planes... who have accounts in Switzerland, who Modi gets contracts. What Modi does in Delhi, Vasundhara does in Rajasthan."
- He said the UPA government had introduced the Land Acquisition Bill for farmers to get right price of their land. However, he alleged that Modi tried to stop it thrice by Ordinance.
- The Congress vice president claimed that 94 per cent of the black money was stashed away in Swiss bank accounts. He accused Modi of targeting the remaining 6 per cent. "Does anyone know why he does not want to target the 94 per cent? Narendra Modi promised during last elections that he will bring back that black money. Can anyone tell me if there is anyone who has got Rs 15 lakh in their account out of that money?" he said.
- Continuing his tirade against demonetisation and cashless economy, Rahul said Modi talks about cashless economy but a farmer does not buy fertilisers using his mobile. "Modiji, aapke is notebandi ke yagya mei Hindustan aur Rajasthan ke kisaan ki bali chadhi hai; aapne unka cash jala diya (Modiji, the farmers have been sacrificed for your yajna. You have burnt their cash," he said.
- He alleged that Modi could not take back money from the super rich who have defaulted on bank loans because their money goes into his marketing. The Swiss government has sent a list of Swiss Bank account holders to the Indian government, he said, and asked why did Modi not put them across in Parliament.
- Coining a slogan, Rahul said the motto of the Modi government was "Gareebon ka paisa kheencho, ameeron ko seencho (Snatch away money from the poor and nurse the rich)".
- He claimed that the people will not get your money back even after December 30. Instead, it will stay in banks for six to seven months. The money would be used to waive off the loans off the super rich, he added.
- He reiterated that Paytm means "Pay to Modi". He quoted Congress leader from Gujarat Shankarsinh Vaghela as saying that Modi was a "super planner". Vaghela formed this opinion after having worked with Modi in Gujarat for 20-25 years.
- Rahul sought to dismiss Modi's claim that demonetisation had curbed terrorism. He said Rs 2000 notes were found on terrorist who was killed by the Army. Hence, Modi's position that the new currency will help in checking terrorism has been deflated, he said.
- He again raised the allegation against PM Modi of personal corruption. "I had asked a few questions to Modi ji in my last few speeches on benami properties and frequent change in demonetisation rules. He (Modi) replied to few of my questions but didn't reply on the corruption allegations against him. Hence, I will ask him again," he said, referring to the allegations of a couple of companies making payments to Modi when the latter was the Gujarat CM.
- "Aap jitna mera mazak udaana chahate hai kariye lekin mere sawaloon ka jawab de dijiye kyunki yeh main nahi deshwasi pooch rahe hain (Modi can make as much fun of me as he likes but respond to my questions. Because not me but the countrymen are asking them)," he said.
AgustaWestland chopper scam: Ex-Indian Air Force chief SP Tyagi gets bail
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Former Indian Air Force chief SP Tyagi was granted bail today by Delhi's Patiala House court in the Rs 3600 crore AgustaWestland VVIP chopper deal case.
Tyagi, his cousin Sanjeev Tyagi and a Delhi-based lawyer Gautam Khaitan, were arrested on December 9 by the Central Bureau of Investigation (CBI) and sent to judicial custody till December 30.
Latest developments:
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The court granted bail to Tyagi, 71, on a surety of Rs 2 lakh. He has been directed not to leave Delhi and the National Capital Region or temper with evidence in the high-profile case.
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The court said it will pronounce its order on the bail pleas of Sanjeev Tyagi and Gautam Khaitan on January 4. Their judicial custody will continue until then.
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The CBI had opposed the bail plea of the three accused, saying they are persons of high ranking and if released on bail, they "may influence witnesses, destroy evidences and hamper the ongoing probe which is at a very crucial stage".
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The agency also told the court that the investigation is going on in the case and CBI was getting support from other countries also.
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Tyagi's defence counsel, while seeking bail last week, told court that former IAF chief was booked and arrested in the case without any basis.
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Tyagi -- the first chief of any wing of the armed forces to be arrested in the country -- and the others were allegedly involved in irregularities in the procurement of 12 AW-101 VVIP helicopters from Britain-based AgustaWestland.
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Tyagi's counsel said that he has nothing do with the helicopters deal and termed "baselesss" the allegation that he has hatched conspiracy to reduce the service ceiling of the helicopters from 6,000-meters to 4,500 meters to make AgustaWestland an eligible company to supply a dozen helicopters for VVIP flying duties.
Former Indian Air Force chief SP Tyagi was granted bail today by Delhi's Patiala House court in the Rs 3600 crore AgustaWestland VVIP chopper deal case.
Tyagi, his cousin Sanjeev Tyagi and a Delhi-based lawyer Gautam Khaitan, were arrested on December 9 by the Central Bureau of Investigation (CBI) and sent to judicial custody till December 30.
Latest developments:
- The court granted bail to Tyagi, 71, on a surety of Rs 2 lakh. He has been directed not to leave Delhi and the National Capital Region or temper with evidence in the high-profile case.
- The court said it will pronounce its order on the bail pleas of Sanjeev Tyagi and Gautam Khaitan on January 4. Their judicial custody will continue until then.
- The CBI had opposed the bail plea of the three accused, saying they are persons of high ranking and if released on bail, they "may influence witnesses, destroy evidences and hamper the ongoing probe which is at a very crucial stage".
- The agency also told the court that the investigation is going on in the case and CBI was getting support from other countries also.
- Tyagi's defence counsel, while seeking bail last week, told court that former IAF chief was booked and arrested in the case without any basis.
- Tyagi -- the first chief of any wing of the armed forces to be arrested in the country -- and the others were allegedly involved in irregularities in the procurement of 12 AW-101 VVIP helicopters from Britain-based AgustaWestland.
- Tyagi's counsel said that he has nothing do with the helicopters deal and termed "baselesss" the allegation that he has hatched conspiracy to reduce the service ceiling of the helicopters from 6,000-meters to 4,500 meters to make AgustaWestland an eligible company to supply a dozen helicopters for VVIP flying duties.
Shiv Sena attacks BJP over UP polls, says people taught lessons to SP, BSP in the past
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Days after Shiv Sena chief Uddhav Thackeray and PM Narendra Modi shared a dais in Mumbai on the occasion of Shivaji Memorial Foundation, the party has attacked the BJP yet again.
HERE'S WHAT YOU NEED TO KNOW:
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In an editorial in Saamna, Sena warned the BJP ahead of upcoming Uttar Pradesh Assembly elections, advising it not to be over confident of their win.
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The editorial said even in the past Samajwadi Party and Bahujan Samaj Party have been taught lessons by people in elections.
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Shiv Sena has been criticising various decisions of Modi as well as those taken by the Fadnavis government from time-to-time.
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Two days back, strains in relations between BJP and Shiv Sena came to the fore during a public meeting addressed by PM Modi in Mumbai as Shiv Sena President Uddhav Thackeray's speech was interrupted for a while, apparently by BJP supporters present among the audience.
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Uddhav shared the dais with PM Modi and Maharashtra CM Devendra Fadnavis at the MMRDA ground in the Bandra Kurla Complex (BKC), after laying foundation of various big ticket infrastructure projects.
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Earlier this week, during the inauguration of Ram Mandir station, Shiv Sena and BJP workers had sparred over by indulging in sloganeering and interrupting the speeches of senior leaders.
Days after Shiv Sena chief Uddhav Thackeray and PM Narendra Modi shared a dais in Mumbai on the occasion of Shivaji Memorial Foundation, the party has attacked the BJP yet again.
HERE'S WHAT YOU NEED TO KNOW:
- In an editorial in Saamna, Sena warned the BJP ahead of upcoming Uttar Pradesh Assembly elections, advising it not to be over confident of their win.
- The editorial said even in the past Samajwadi Party and Bahujan Samaj Party have been taught lessons by people in elections.
- Shiv Sena has been criticising various decisions of Modi as well as those taken by the Fadnavis government from time-to-time.
- Two days back, strains in relations between BJP and Shiv Sena came to the fore during a public meeting addressed by PM Modi in Mumbai as Shiv Sena President Uddhav Thackeray's speech was interrupted for a while, apparently by BJP supporters present among the audience.
- Uddhav shared the dais with PM Modi and Maharashtra CM Devendra Fadnavis at the MMRDA ground in the Bandra Kurla Complex (BKC), after laying foundation of various big ticket infrastructure projects.
- Earlier this week, during the inauguration of Ram Mandir station, Shiv Sena and BJP workers had sparred over by indulging in sloganeering and interrupting the speeches of senior leaders.
Business Affairs
Nifty hits 7-month low, Sensex tanks 234 pts after tax talk
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The rally in the previous session proved to be a temporary breather as the NSE Nifty today slumped to a 7-month low of 7,908 and the Sensex below 26,000, hit by talk of higher taxation after Prime Minister's remarks. On Saturday, Prime Minister Narendra Modi had said market participants should contribute to nation-building in a fair, efficient and transparent way and promised more sound and prudent policies and reform measures, which was seen by some as the government planning to impose long-term capital gains tax on profit made from investment in shares.
Though Finance Minister Arun Jaitley yesterday sought to clear the air saying the government has no such intention, investors were already a nervous lot. This triggered selling, which saw the benchmark index fall for the eighth time in nine days to extend the last week's losing spell. The 50-share Nifty after cracking below the 7,900-mark settled lower by 77.50 points, or 0.97 per cent, at 7,908.25.
This is its lowest closing since May 24 this year when it came in at 7,748.85. The BSE Sensex resumed lower and dropped further before ending at a fresh one-month low 25,807.10, a loss of 233.60 points, or 0.90 per cent. It had risen 61.10 points on Friday. With investors continuing to fret over demonetisation, Prime Minister Modi's comments on higher taxes from capital markets ensured early sentiment was decidedly weak. Finance minister's reassurance dispelling rumours soothed markets, but with FIIs continuing their preference for cash, buying interest remained thin and sporadic, said Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services.
Short-covering ahead of December month expiry in the derivatives segment on Thursday and value-buying in select stocks helped the indices recoup losses to some extent, brokers said. Foreign capital outflows continued, tracking other global markets.
Investors see equities to remain volatile in the near term as most foreign funds will be on year-end holidays amid absence of any major trigger.
Cipla took the biggest knock as it plunged by 4.94 per cent followed by Lupin 2.78 per cent, Tata Steel (2.64 per cent), ONGC and SBI (2.07 per cent).
From the gainers pack, HUL gained the most by rising 1.25 per cent, Bharti Airtel 0.25 per cent and TCS 0.17 per cent. Meanwhile, foreign funds sold shares worth Rs 1,462.65 crore last Friday, as per the provisional data. Major Asian indices were down as investors cashed in on a recent global rally fuelled by expectations from the incoming administration of US President-elect Donald Trump.
Japan's Nikkei shed 0.16 per cent but Shanghai Composite rose 0.40 per cent. Hong Kong, Singapore and Kuala Lumpur markets remained closed today for a public holiday. Europe was mixed in afternoon trade as indices in London and Paris moved up by 0.06 per cent and 0.10 per cent. Frankfurt was down 0.05 per cent. Back home, the mid-cap index fell 2.17 per cent while the small-cap lost 2.10 per cent. Out of the 30-share Sensex pack, 25 ended lower. Among BSE sectoral indices, realty fell by 3.61 per cent, followed by metal 2.85 per cent, healthcare (2.58 per cent), PSU (2.05 per cent) and power (1.79 per cent).
The rally in the previous session proved to be a temporary breather as the NSE Nifty today slumped to a 7-month low of 7,908 and the Sensex below 26,000, hit by talk of higher taxation after Prime Minister's remarks. On Saturday, Prime Minister Narendra Modi had said market participants should contribute to nation-building in a fair, efficient and transparent way and promised more sound and prudent policies and reform measures, which was seen by some as the government planning to impose long-term capital gains tax on profit made from investment in shares.
Though Finance Minister Arun Jaitley yesterday sought to clear the air saying the government has no such intention, investors were already a nervous lot. This triggered selling, which saw the benchmark index fall for the eighth time in nine days to extend the last week's losing spell. The 50-share Nifty after cracking below the 7,900-mark settled lower by 77.50 points, or 0.97 per cent, at 7,908.25.
This is its lowest closing since May 24 this year when it came in at 7,748.85. The BSE Sensex resumed lower and dropped further before ending at a fresh one-month low 25,807.10, a loss of 233.60 points, or 0.90 per cent. It had risen 61.10 points on Friday. With investors continuing to fret over demonetisation, Prime Minister Modi's comments on higher taxes from capital markets ensured early sentiment was decidedly weak. Finance minister's reassurance dispelling rumours soothed markets, but with FIIs continuing their preference for cash, buying interest remained thin and sporadic, said Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services.
Short-covering ahead of December month expiry in the derivatives segment on Thursday and value-buying in select stocks helped the indices recoup losses to some extent, brokers said. Foreign capital outflows continued, tracking other global markets.
Investors see equities to remain volatile in the near term as most foreign funds will be on year-end holidays amid absence of any major trigger.
Cipla took the biggest knock as it plunged by 4.94 per cent followed by Lupin 2.78 per cent, Tata Steel (2.64 per cent), ONGC and SBI (2.07 per cent).
From the gainers pack, HUL gained the most by rising 1.25 per cent, Bharti Airtel 0.25 per cent and TCS 0.17 per cent. Meanwhile, foreign funds sold shares worth Rs 1,462.65 crore last Friday, as per the provisional data. Major Asian indices were down as investors cashed in on a recent global rally fuelled by expectations from the incoming administration of US President-elect Donald Trump.
Japan's Nikkei shed 0.16 per cent but Shanghai Composite rose 0.40 per cent. Hong Kong, Singapore and Kuala Lumpur markets remained closed today for a public holiday. Europe was mixed in afternoon trade as indices in London and Paris moved up by 0.06 per cent and 0.10 per cent. Frankfurt was down 0.05 per cent. Back home, the mid-cap index fell 2.17 per cent while the small-cap lost 2.10 per cent. Out of the 30-share Sensex pack, 25 ended lower. Among BSE sectoral indices, realty fell by 3.61 per cent, followed by metal 2.85 per cent, healthcare (2.58 per cent), PSU (2.05 per cent) and power (1.79 per cent).
India needs globally compatible tax rates: Jaitley
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Finance Minister Arun Jaitley today said a lower level of taxation that is globally compatible is necessary if the country has to have a broader base of economy.
He said gone are the days of the philosophy that high taxation will bring greater revenues and that since 1991 the course of economy has altered itself.
"... what you need is a broader base of economy for which you need a lower level of taxation. You need to manufacture products and provide services which are more competitive in character and therefore your taxes have to be globally compatible," Jaitley said while inaugurating the professional training of IRS officers.
He said competition is not merely domestic but global and therefore in the last two-and-a-half decades, governments have been guided by these principles.
Tracing the behaviour of people in the last 70 years, the Finance Minister said there has been an impression if avoidance could be done of government revenue, there is nothing "improper or immoral" about it.
This was, he said, considered to be "commercial smartness" and of course some people were visited with very serious consequences.
He told the young revenue service officers that in coming future decades they should see that voluntary tax compliance has to increase in India.
"And the mindset of the tax payer (should be) that payment of legitimate taxes is a responsibility and then it should be reciprocated by you with a confidence in the tax payer. The tax payer is to be trusted, except when it's proven otherwise.
And therefore only in those select cases, very objectively selected, you go in for a wider audit or a wider scrutiny itself," Jaitley said.
Jaitley said that tax collectors would need to sharpen their skills as indirect taxes of the Centre and the states are eventually going to converge.
"Once they (taxes of centre and states) converge into one tax, the cooperation between the Centre and the state authorities itself will have to reach very high standards," he said, while referring to the Goods and Services Tax (GST) which is on the anvil.
He further said that standardisation of practices, injection of technology and ability to detect any infringement of violation will require very large supervisory skills.
Observing that there are no grey areas in criminal or tax laws, Jaitley said stricter principles would need to be applied to detect violation.
"There are no grey areas in taxation laws. It's either black or white. It's either payable or not payable. And therefore to discover grey areas in fiscal laws is not possible, that's the same principle that applies to criminal law also, either an offence has been committed or not committed," the Minister said.
Finance Minister Arun Jaitley today said a lower level of taxation that is globally compatible is necessary if the country has to have a broader base of economy.
He said gone are the days of the philosophy that high taxation will bring greater revenues and that since 1991 the course of economy has altered itself.
"... what you need is a broader base of economy for which you need a lower level of taxation. You need to manufacture products and provide services which are more competitive in character and therefore your taxes have to be globally compatible," Jaitley said while inaugurating the professional training of IRS officers.
He said competition is not merely domestic but global and therefore in the last two-and-a-half decades, governments have been guided by these principles.
Tracing the behaviour of people in the last 70 years, the Finance Minister said there has been an impression if avoidance could be done of government revenue, there is nothing "improper or immoral" about it.
This was, he said, considered to be "commercial smartness" and of course some people were visited with very serious consequences.
He told the young revenue service officers that in coming future decades they should see that voluntary tax compliance has to increase in India.
"And the mindset of the tax payer (should be) that payment of legitimate taxes is a responsibility and then it should be reciprocated by you with a confidence in the tax payer. The tax payer is to be trusted, except when it's proven otherwise.
And therefore only in those select cases, very objectively selected, you go in for a wider audit or a wider scrutiny itself," Jaitley said.
Jaitley said that tax collectors would need to sharpen their skills as indirect taxes of the Centre and the states are eventually going to converge.
"Once they (taxes of centre and states) converge into one tax, the cooperation between the Centre and the state authorities itself will have to reach very high standards," he said, while referring to the Goods and Services Tax (GST) which is on the anvil.
He further said that standardisation of practices, injection of technology and ability to detect any infringement of violation will require very large supervisory skills.
Observing that there are no grey areas in criminal or tax laws, Jaitley said stricter principles would need to be applied to detect violation.
"There are no grey areas in taxation laws. It's either black or white. It's either payable or not payable. And therefore to discover grey areas in fiscal laws is not possible, that's the same principle that applies to criminal law also, either an offence has been committed or not committed," the Minister said.
Trai asks Jio to explain why new offer not violation of norms
-
Telecom regulator Trai has asked Reliance Jio to explain why extension of its free voice and data plan should not be seen as violation of existing regulations requiring promotional offers to be limited to 90 days.
Trai shot off the letter after the Mukesh Ambani-led firm announced free data and voice calls for existing and new customers under the 'Happy New Year offer', days before the 90-day inaugural welcome plan ended on December 3.
In the December 20 letter, the regulator, which is in the process of examining the new plan by Reliance Jio, also asked why the offer of free data under the promotional scheme should not be treated as "predatory".
When contacted, Reliance Jio Infocomm Ltd (RJIL) did not offer any comments on the issue.
Sources with direct knowledge of the development said the regulator in its letter had cited RJIL's consumer base growing to 63 million as on December 18 to state that the company will become a significant market player in the broadband space shortly, may be by December-end.
Stating that the preliminary analysis relies on factors like average subscriber additions per day and free data being offered, Trai is learnt to have asked RJIL to clarify as to "why the offer of free data under the promotional offer should not be treated as predatory."
Another source said that in a meeting with Trai, Jio has said that the latest Happy New Year offer is substantiatively different from the Jio Welcome Offer (that commenced on September 5) as in the initial offer it had provided 4GB of free data per day, and in the new offer the same was capped at 1GB under Fair Usage Policy.
Also, they contend, in the first offer there was no option of renewal or payment after the 4GB limit was exhausted, but in the new offer, one can recharge both data and the promised speed.
In terms of market dominance, Reliance Jio is six per cent of the installations in the country whereas the Competition Commission of India (CCI) norms specify 30 per cent threshold to trigger the `misuse of market dominance' clause.
Sources said, Trai has also asked Jio to give an estimated month-wise projection of the number of subscribers that are expected to be added till March 31, 2017.
Jio has been given five days to clarify on the issues raised by the regulator.
Telecom regulator Trai has asked Reliance Jio to explain why extension of its free voice and data plan should not be seen as violation of existing regulations requiring promotional offers to be limited to 90 days.
Trai shot off the letter after the Mukesh Ambani-led firm announced free data and voice calls for existing and new customers under the 'Happy New Year offer', days before the 90-day inaugural welcome plan ended on December 3.
In the December 20 letter, the regulator, which is in the process of examining the new plan by Reliance Jio, also asked why the offer of free data under the promotional scheme should not be treated as "predatory".
When contacted, Reliance Jio Infocomm Ltd (RJIL) did not offer any comments on the issue.
Sources with direct knowledge of the development said the regulator in its letter had cited RJIL's consumer base growing to 63 million as on December 18 to state that the company will become a significant market player in the broadband space shortly, may be by December-end.
Stating that the preliminary analysis relies on factors like average subscriber additions per day and free data being offered, Trai is learnt to have asked RJIL to clarify as to "why the offer of free data under the promotional offer should not be treated as predatory."
Another source said that in a meeting with Trai, Jio has said that the latest Happy New Year offer is substantiatively different from the Jio Welcome Offer (that commenced on September 5) as in the initial offer it had provided 4GB of free data per day, and in the new offer the same was capped at 1GB under Fair Usage Policy.
Also, they contend, in the first offer there was no option of renewal or payment after the 4GB limit was exhausted, but in the new offer, one can recharge both data and the promised speed.
In terms of market dominance, Reliance Jio is six per cent of the installations in the country whereas the Competition Commission of India (CCI) norms specify 30 per cent threshold to trigger the `misuse of market dominance' clause.
Sources said, Trai has also asked Jio to give an estimated month-wise projection of the number of subscribers that are expected to be added till March 31, 2017.
Jio has been given five days to clarify on the issues raised by the regulator.
Internet connectivity still out of reach for 950 million Indian
-
India may have the world's second largest internet user base, but connectivity remains out of reach for nearly 950 million citizens, a report said today.
"Even with the internet data plans in India being among the cheapest in the world and the average retail price of smartphones steadily declining, connectivity is still out of the reach of nearly 950 million Indians," according to the Assocham-Deloitte joint study
India currently has about 350 million internet users, second only to China.
Internet penetration is increasing in India and the access to affordable broadband, smart devices and monthly data packages are required to spread digital literacy to make their ends meet, the study titled 'Strategic national measures to combat cybercrime' said.
Existing government infrastructure assets should be further leveraged for provision of digital services at remote locations, it said.
The study added that digital literacy needs to be increased by providing institutional trainings in schools, colleges and universities. It pitched for accelerating partnerships with global technology leaders and using the workforce trained under Skill India to impart trainings.
An integrated approach between Digital India and Skill India needs to be constructed to design programmes and impart training, it said.
The report called for incentivising private sector players for developing infrastructure, providing services and promoting digital literacy as part of the Digital India programme.
"Start-ups should be involved to create and customise apps to local needs to increase adoption of digital technology," it said adding that a framework needs to be defined for participation of private sector in skill development programs defining their role, expectations in terms of investments, content and job guarantees.
Besides, integration of local language and technology is also required to drive digital literacy.
The report said fear of cybercrime and breach of privacy have been deterrents in adoption of digital technologies in the country.
In order to encourage people to switch to digital means, it is important to provide awareness and education on cyber security, risks and safeguarding of information on the internet, it said.
India may have the world's second largest internet user base, but connectivity remains out of reach for nearly 950 million citizens, a report said today.
"Even with the internet data plans in India being among the cheapest in the world and the average retail price of smartphones steadily declining, connectivity is still out of the reach of nearly 950 million Indians," according to the Assocham-Deloitte joint study
India currently has about 350 million internet users, second only to China.
Internet penetration is increasing in India and the access to affordable broadband, smart devices and monthly data packages are required to spread digital literacy to make their ends meet, the study titled 'Strategic national measures to combat cybercrime' said.
Existing government infrastructure assets should be further leveraged for provision of digital services at remote locations, it said.
The study added that digital literacy needs to be increased by providing institutional trainings in schools, colleges and universities. It pitched for accelerating partnerships with global technology leaders and using the workforce trained under Skill India to impart trainings.
An integrated approach between Digital India and Skill India needs to be constructed to design programmes and impart training, it said.
The report called for incentivising private sector players for developing infrastructure, providing services and promoting digital literacy as part of the Digital India programme.
"Start-ups should be involved to create and customise apps to local needs to increase adoption of digital technology," it said adding that a framework needs to be defined for participation of private sector in skill development programs defining their role, expectations in terms of investments, content and job guarantees.
Besides, integration of local language and technology is also required to drive digital literacy.
The report said fear of cybercrime and breach of privacy have been deterrents in adoption of digital technologies in the country.
In order to encourage people to switch to digital means, it is important to provide awareness and education on cyber security, risks and safeguarding of information on the internet, it said.
Cargo handling capacity reached a high of 1,005.96 MTPA
-
The annual cargo handling capacity of major ports grew 4.2 per cent to clock 1,005.96 metric tonnes in the first eight months of the current fiscal, compared to 965.4 MTPA in 2015/16. In 2012/13, cargo handling capacity was at 744.9 MTPA, and since then there has been a steady rise.
Provisional data upto November, 2016; Figures in MTPA
Traffic handled at major ports stood at 424.12 million tonnes in 2016/17 till November. It increased from 397.2 million tonnes in the corresponding period of the previous year, registering growth of 7 per cent.
*Upto November, 2016; figures in million tonnes
Indian ports handle 90 per cent of the country's external trade by volume and 70 per cent by value. Last fiscal, Rs15,334.8 crore was invested for 30 projects and to create an additional capacity of 162.10MTPA. In 2016/17, 33 projects have been targeted for award of which 23 have already been awarded. Efficiency parameters of the ports have improved considerably. The average turnaround time registered significant improvement in 2014/15 from four days to 3.63 days last fiscal, and to 3.49 days in the current year (up to October). The average output per ship berthday increased from 12,458 tonnes in 2014/15 to 13,151 tonnes in 2015/16, and stood at 13,949 tonnes in 2016/17 (till October).
The annual cargo handling capacity of major ports grew 4.2 per cent to clock 1,005.96 metric tonnes in the first eight months of the current fiscal, compared to 965.4 MTPA in 2015/16. In 2012/13, cargo handling capacity was at 744.9 MTPA, and since then there has been a steady rise.
Provisional data upto November, 2016; Figures in MTPA
Traffic handled at major ports stood at 424.12 million tonnes in 2016/17 till November. It increased from 397.2 million tonnes in the corresponding period of the previous year, registering growth of 7 per cent.
*Upto November, 2016; figures in million tonnes
Indian ports handle 90 per cent of the country's external trade by volume and 70 per cent by value. Last fiscal, Rs15,334.8 crore was invested for 30 projects and to create an additional capacity of 162.10MTPA. In 2016/17, 33 projects have been targeted for award of which 23 have already been awarded. Efficiency parameters of the ports have improved considerably. The average turnaround time registered significant improvement in 2014/15 from four days to 3.63 days last fiscal, and to 3.49 days in the current year (up to October). The average output per ship berthday increased from 12,458 tonnes in 2014/15 to 13,151 tonnes in 2015/16, and stood at 13,949 tonnes in 2016/17 (till October).
General Awareness
GENERAL AWARENESS MCQs FOR BANK EXAMS
-
1. Which country has decided to remove the 100-bolivar bank note from circulation in December 2016?
1) Venezuela
2) Colombia
3) Brazil
4) Bolivia
5) Argentina
2. Which is the first entity in India to start a Payments Bank?
1) Reliance
2) Airtel
3) Paytm
4) India Post
5) Vodafone
3. What is the present reverse repo rate?
1) 6.25%
2) 5.25%
3) 5.75%
4) 5.5%
5) None of these
4. Forbes magazine has released the list of the World's Most Powerful People 2016. What is the rank of the Indian Prime Minister Narendra Modi in this list?
1) 2
2) 3
3) 6
4) 9
5) 7
5. India signed a landmark civil nuclear agreement with which of the following countries on November 11, 2016?
1) Vietnam
2) China
3) Philippines
4) Japan
5) Qatar
6. What is the maximum deposit amount insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC)?
1) Rs. 50,000
2) Rs. 2,00,000
3) Rs. 1,00,000
4) Rs. 2,50,000
5) None of these
7. Daniel Ortega won a third consecutive term as the President of which of the following countries in November 2016?
1) Nicaragua
2) Panama
3) Surinam
4) Guatemala
5) Paraguay
8. The 11th East Asia Summit (EAS) was held in September 2016 in which of the following countries?
1) Vietnam
2) Philippines
3) Singapore
4) Laos
5) Myanmar
9. What is India's rank out of 190 countries in the World Bank's annual report on the ease of doing
business released in October 2016?
1) 129
2) 141
3) 130
4) 143
5) 140
10. Fidel Castro passed away on November 25, 2016. He governed which of the following countries
as the President from 1976 to 2008?
1) Bahamas
2) Haiti
3) Jamaica
4) Cuba
5) Mexico
11. "The Giving Pledge" encourages the world's wealthiest individuals and families to donate a majority of their wealth to philanthropic causes. This organization was started in 2010 by?
1) Warren Buffett and Paul Allen
2) Bill Gates and Michael Bloomberg
3) Mark Zuckerberg and Larry Ellison
4) Warren Buffett and Bill Gates
5) David Rockefeller and Richard Branson
12. Donald Carr passed away recently. He was a former cricketer from?
1) West Indies
2) England
3) South Africa
4) Australia
5) None of these
13. Afghan-India Friendship Dam or the Salma Dam is situated in which of the following provinces of Afghanistan?
1) Bamyan
2) Helmand
3) Herat
4) Kandahar
5) Kunduz
14. The South Asian University (SAU), an initiative of the eight South Asian countries, held its first
convocation ceremony recently. SAU is in?
1) Kathmandu
2) Dhaka
3) Thimphu
4) New Delhi
5) Islamabad
15. Gudni Johannesson assumed office as the President of which of the following countries on August
1, 2016?
1) Ireland
2) Sweden
3) Denmark
4) Slovenia
5) Iceland
16. "Sahyog Hyeoblyeog 2016" is a joint coast guard exercise held off Chennai coast recently between India and?
1) Japan
2) Vietnam
3) South Korea
4) China
5) Philippines
17. Major General Per Gustaf Lodin has been appointed as Chief Military Observer and Head of Mission for the United Nations Military Observer Group in India and Pakistan (UNMOGIP). He belongs to?
1) Ghana
2) Sweden
3) Kenya
4) Argentina
5) Bulgaria
18. Who has been appointed as the Chief Executive Officer of National Investment and Infrastructure Fund (NIIF)?
1) G. Kalyanakrishnan
2) B.S. Bassi
3) A.R. Karve
4) Sujoy Bose
5) Satya Pal Jain
19. The Indian Air Force inducted three women fighter pilots for the first time in June 2016. Who among the following is one of them?
1) Bhawana Kath
2) Avani Chaturvedi
3) Mohana Singh
4) Both 1 and 2
5) All 1, 2 and 3
20. Indigenously built heavyweight anti-submarine torpedo was inducted in the Indian Navy on June 29, 2016. What is its name?
1) Akash
2) Varunastra
3) Tiger Fish
4) Arihant
5) Astra
21. Which of the following is the mascot of the 2016 Summer Olympics held in Rio de Janeiro?
1) Tom
2) Wenlock
3) Miga
4) Tikhor
5) Vinicius
22. Which State topped in providing jobs under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) for the year 2015-16?
1) Tripura
2) Mizoram
3) Sikkim
4) Arunachal Pradesh
5) None of these
23. The recently launched "Tiger Express" semi-luxury train will take the guests onboard to the world
famous Bandhavgarh and Kanha National Parks in?
1) Odisha
2) West Bengal
3) Madhya Pradesh
4) Rajasthan
5) Uttar Pradesh
24. HDFC Ergo General Insurance Company has recently completed the acquisition of 100 percent shares of which of the following general insurance companies for
Rs. 551 crore?
1) Bharati Axa
2) Bajaj Allianz
3) ICICI Lombard
4) L&T
5) Tata-AIG
25. Which of the following microfinance institutions has been renamed as Bharat Financial Inclusion
Limited?
1) Disha Microfin
2) SKS Microfinance
3) Suryoday Microfinance
4) Bandhan
5) None of these
26. The India Post Payments Bank (IPPB) will offer demand deposits such as savings and current accounts up to a balance of?
1) Rs. 1 lakh
2) Rs. 2 lakh
3) Rs. 3 lakh
4) Rs. 4 lakh
5) Rs. 5 lakh
27. Which is the least peaceful country in the world as per the 2016 Global Peace Index?
1) Yemen
2) Ukraine
3) Libya
4) North Korea
5) Syria
28. Which Indian city hosted the junior men's hockey World Cup in December 2016?
1) Bhubaneswar
2) Nagpur
3) New Delhi
4) Lucknow
5) Chandigarh
29. The SDR scheme was introduced by the Reserve Bank of India in 2015 to help banks recover their loans by taking control of the distressed listed companies. What is the full form of this SDR scheme?
1) Strategic Drawing Rights
2) Strategic Debt Restructuring
3) Special Debt Restructuring
4) Special Debt Recovery
5) None of these
30. Which of the following are not insured by the DICGC?
1) Foreign Banks
2) Private Banks
3) Regional Rural Banks
4) Primary Cooperative Societies
5) 1 and 2
31. Which of the following is not a private sector bank?
1) Yes Bank
2) Bandhan Bank
3) Karnataka Bank
4) IDFC Bank
5) Dena Bank
32. Who among the following authors won the 2016 PEN Pinter Prize?
1) Doris Lessing
2) Margaret Atwood
3) Svetlana Alexivich
4) Paul Beatty
5) Han Kang
33. Who is the only Indian to win two gold medals at the Paralympics?
1) Deepa Malik
2) Mariyappan Thangavelu
3) Devendra Jhajharia
4) Varun Singh Bhati
5) None of these
34. Miroslav Klose, the all-time World Cup top scorer, announced his retirement recently. He played international football matches for?
1) Spain
2) Portugal
3) Poland
4) Germany
5) Italy
35. Indian currency notes are printed at four printing presses. Which of the following places is not one of them?
1) Nasik
2) Mysore
3) Dewas
4) Salboni
5) Noida
36. SBI Life Insurance is a joint venture between State Bank of India and?
1) Mitsui Sumitomo
2) AIG
3) BNP Paribas Cardif
4) Legal and General
5) IAG
37. Who won the 2016 US Open men's singles tennis title?
1) Novak Djokovic
2) Andy Murray
3) Roger Federer
4) Stanislas Wawrinka
5) Rafael Nadal
38. Ryder Cup is associated with which of the following sports?
1) Boxing
2) Cycling
3) Chess
4) Football
5) Golf
39. Who is the author of the book "The Great Derangement: Climate Change and the Unthinkable"?
1) Al Gore
2) Rajendra Pachauri
3) Amitav Ghosh
4) Jairam Ramesh
5) None of these
40. World Diabetes Day is observed on?
1) August 14
2) September 14
3) October 14
4) November 14
5) December 14
ANSWERS
1) 1 2) 2 3) 3 4) 4 5) 4 6) 3 7) 1 8) 4 9) 3 10) 4
11) 4 12) 2 13) 3 14) 4 15) 5 16) 3 17) 2 18) 4 19) 5 20) 2
21) 5 22) 1 23) 3 24) 4 25) 2 26) 1 27) 5 28) 4 29) 2 30) 4
31) 5 32) 2 33) 3 34) 4 35) 5 36) 3 37) 4 38) 5 39) 3 40) 4
1. Which country has decided to remove the 100-bolivar bank note from circulation in December 2016?
1) Venezuela
2) Colombia
3) Brazil
4) Bolivia
5) Argentina
2. Which is the first entity in India to start a Payments Bank?
1) Reliance
2) Airtel
3) Paytm
4) India Post
5) Vodafone
3. What is the present reverse repo rate?
1) 6.25%
2) 5.25%
3) 5.75%
4) 5.5%
5) None of these
4. Forbes magazine has released the list of the World's Most Powerful People 2016. What is the rank of the Indian Prime Minister Narendra Modi in this list?
1) 2
2) 3
3) 6
4) 9
5) 7
5. India signed a landmark civil nuclear agreement with which of the following countries on November 11, 2016?
1) Vietnam
2) China
3) Philippines
4) Japan
5) Qatar
6. What is the maximum deposit amount insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC)?
1) Rs. 50,000
2) Rs. 2,00,000
3) Rs. 1,00,000
4) Rs. 2,50,000
5) None of these
7. Daniel Ortega won a third consecutive term as the President of which of the following countries in November 2016?
1) Nicaragua
2) Panama
3) Surinam
4) Guatemala
5) Paraguay
8. The 11th East Asia Summit (EAS) was held in September 2016 in which of the following countries?
1) Vietnam
2) Philippines
3) Singapore
4) Laos
5) Myanmar
9. What is India's rank out of 190 countries in the World Bank's annual report on the ease of doing
business released in October 2016?
1) 129
2) 141
3) 130
4) 143
5) 140
10. Fidel Castro passed away on November 25, 2016. He governed which of the following countries
as the President from 1976 to 2008?
1) Bahamas
2) Haiti
3) Jamaica
4) Cuba
5) Mexico
11. "The Giving Pledge" encourages the world's wealthiest individuals and families to donate a majority of their wealth to philanthropic causes. This organization was started in 2010 by?
1) Warren Buffett and Paul Allen
2) Bill Gates and Michael Bloomberg
3) Mark Zuckerberg and Larry Ellison
4) Warren Buffett and Bill Gates
5) David Rockefeller and Richard Branson
12. Donald Carr passed away recently. He was a former cricketer from?
1) West Indies
2) England
3) South Africa
4) Australia
5) None of these
13. Afghan-India Friendship Dam or the Salma Dam is situated in which of the following provinces of Afghanistan?
1) Bamyan
2) Helmand
3) Herat
4) Kandahar
5) Kunduz
14. The South Asian University (SAU), an initiative of the eight South Asian countries, held its first
convocation ceremony recently. SAU is in?
1) Kathmandu
2) Dhaka
3) Thimphu
4) New Delhi
5) Islamabad
15. Gudni Johannesson assumed office as the President of which of the following countries on August
1, 2016?
1) Ireland
2) Sweden
3) Denmark
4) Slovenia
5) Iceland
16. "Sahyog Hyeoblyeog 2016" is a joint coast guard exercise held off Chennai coast recently between India and?
1) Japan
2) Vietnam
3) South Korea
4) China
5) Philippines
17. Major General Per Gustaf Lodin has been appointed as Chief Military Observer and Head of Mission for the United Nations Military Observer Group in India and Pakistan (UNMOGIP). He belongs to?
1) Ghana
2) Sweden
3) Kenya
4) Argentina
5) Bulgaria
18. Who has been appointed as the Chief Executive Officer of National Investment and Infrastructure Fund (NIIF)?
1) G. Kalyanakrishnan
2) B.S. Bassi
3) A.R. Karve
4) Sujoy Bose
5) Satya Pal Jain
19. The Indian Air Force inducted three women fighter pilots for the first time in June 2016. Who among the following is one of them?
1) Bhawana Kath
2) Avani Chaturvedi
3) Mohana Singh
4) Both 1 and 2
5) All 1, 2 and 3
20. Indigenously built heavyweight anti-submarine torpedo was inducted in the Indian Navy on June 29, 2016. What is its name?
1) Akash
2) Varunastra
3) Tiger Fish
4) Arihant
5) Astra
21. Which of the following is the mascot of the 2016 Summer Olympics held in Rio de Janeiro?
1) Tom
2) Wenlock
3) Miga
4) Tikhor
5) Vinicius
22. Which State topped in providing jobs under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) for the year 2015-16?
1) Tripura
2) Mizoram
3) Sikkim
4) Arunachal Pradesh
5) None of these
23. The recently launched "Tiger Express" semi-luxury train will take the guests onboard to the world
famous Bandhavgarh and Kanha National Parks in?
1) Odisha
2) West Bengal
3) Madhya Pradesh
4) Rajasthan
5) Uttar Pradesh
24. HDFC Ergo General Insurance Company has recently completed the acquisition of 100 percent shares of which of the following general insurance companies for
Rs. 551 crore?
1) Bharati Axa
2) Bajaj Allianz
3) ICICI Lombard
4) L&T
5) Tata-AIG
25. Which of the following microfinance institutions has been renamed as Bharat Financial Inclusion
Limited?
1) Disha Microfin
2) SKS Microfinance
3) Suryoday Microfinance
4) Bandhan
5) None of these
26. The India Post Payments Bank (IPPB) will offer demand deposits such as savings and current accounts up to a balance of?
1) Rs. 1 lakh
2) Rs. 2 lakh
3) Rs. 3 lakh
4) Rs. 4 lakh
5) Rs. 5 lakh
27. Which is the least peaceful country in the world as per the 2016 Global Peace Index?
1) Yemen
2) Ukraine
3) Libya
4) North Korea
5) Syria
28. Which Indian city hosted the junior men's hockey World Cup in December 2016?
1) Bhubaneswar
2) Nagpur
3) New Delhi
4) Lucknow
5) Chandigarh
29. The SDR scheme was introduced by the Reserve Bank of India in 2015 to help banks recover their loans by taking control of the distressed listed companies. What is the full form of this SDR scheme?
1) Strategic Drawing Rights
2) Strategic Debt Restructuring
3) Special Debt Restructuring
4) Special Debt Recovery
5) None of these
30. Which of the following are not insured by the DICGC?
1) Foreign Banks
2) Private Banks
3) Regional Rural Banks
4) Primary Cooperative Societies
5) 1 and 2
31. Which of the following is not a private sector bank?
1) Yes Bank
2) Bandhan Bank
3) Karnataka Bank
4) IDFC Bank
5) Dena Bank
32. Who among the following authors won the 2016 PEN Pinter Prize?
1) Doris Lessing
2) Margaret Atwood
3) Svetlana Alexivich
4) Paul Beatty
5) Han Kang
33. Who is the only Indian to win two gold medals at the Paralympics?
1) Deepa Malik
2) Mariyappan Thangavelu
3) Devendra Jhajharia
4) Varun Singh Bhati
5) None of these
34. Miroslav Klose, the all-time World Cup top scorer, announced his retirement recently. He played international football matches for?
1) Spain
2) Portugal
3) Poland
4) Germany
5) Italy
35. Indian currency notes are printed at four printing presses. Which of the following places is not one of them?
1) Nasik
2) Mysore
3) Dewas
4) Salboni
5) Noida
36. SBI Life Insurance is a joint venture between State Bank of India and?
1) Mitsui Sumitomo
2) AIG
3) BNP Paribas Cardif
4) Legal and General
5) IAG
37. Who won the 2016 US Open men's singles tennis title?
1) Novak Djokovic
2) Andy Murray
3) Roger Federer
4) Stanislas Wawrinka
5) Rafael Nadal
38. Ryder Cup is associated with which of the following sports?
1) Boxing
2) Cycling
3) Chess
4) Football
5) Golf
39. Who is the author of the book "The Great Derangement: Climate Change and the Unthinkable"?
1) Al Gore
2) Rajendra Pachauri
3) Amitav Ghosh
4) Jairam Ramesh
5) None of these
40. World Diabetes Day is observed on?
1) August 14
2) September 14
3) October 14
4) November 14
5) December 14
ANSWERS
1) 1 2) 2 3) 3 4) 4 5) 4 6) 3 7) 1 8) 4 9) 3 10) 4
11) 4 12) 2 13) 3 14) 4 15) 5 16) 3 17) 2 18) 4 19) 5 20) 2
21) 5 22) 1 23) 3 24) 4 25) 2 26) 1 27) 5 28) 4 29) 2 30) 4
31) 5 32) 2 33) 3 34) 4 35) 5 36) 3 37) 4 38) 5 39) 3 40) 4
1) Venezuela
2) Colombia
3) Brazil
4) Bolivia
5) Argentina
2. Which is the first entity in India to start a Payments Bank?
1) Reliance
2) Airtel
3) Paytm
4) India Post
5) Vodafone
3. What is the present reverse repo rate?
1) 6.25%
2) 5.25%
3) 5.75%
4) 5.5%
5) None of these
4. Forbes magazine has released the list of the World's Most Powerful People 2016. What is the rank of the Indian Prime Minister Narendra Modi in this list?
1) 2
2) 3
3) 6
4) 9
5) 7
5. India signed a landmark civil nuclear agreement with which of the following countries on November 11, 2016?
1) Vietnam
2) China
3) Philippines
4) Japan
5) Qatar
6. What is the maximum deposit amount insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC)?
1) Rs. 50,000
2) Rs. 2,00,000
3) Rs. 1,00,000
4) Rs. 2,50,000
5) None of these
7. Daniel Ortega won a third consecutive term as the President of which of the following countries in November 2016?
1) Nicaragua
2) Panama
3) Surinam
4) Guatemala
5) Paraguay
8. The 11th East Asia Summit (EAS) was held in September 2016 in which of the following countries?
1) Vietnam
2) Philippines
3) Singapore
4) Laos
5) Myanmar
9. What is India's rank out of 190 countries in the World Bank's annual report on the ease of doing
business released in October 2016?
1) 129
2) 141
3) 130
4) 143
5) 140
10. Fidel Castro passed away on November 25, 2016. He governed which of the following countries
as the President from 1976 to 2008?
1) Bahamas
2) Haiti
3) Jamaica
4) Cuba
5) Mexico
11. "The Giving Pledge" encourages the world's wealthiest individuals and families to donate a majority of their wealth to philanthropic causes. This organization was started in 2010 by?
1) Warren Buffett and Paul Allen
2) Bill Gates and Michael Bloomberg
3) Mark Zuckerberg and Larry Ellison
4) Warren Buffett and Bill Gates
5) David Rockefeller and Richard Branson
12. Donald Carr passed away recently. He was a former cricketer from?
1) West Indies
2) England
3) South Africa
4) Australia
5) None of these
13. Afghan-India Friendship Dam or the Salma Dam is situated in which of the following provinces of Afghanistan?
1) Bamyan
2) Helmand
3) Herat
4) Kandahar
5) Kunduz
14. The South Asian University (SAU), an initiative of the eight South Asian countries, held its first
convocation ceremony recently. SAU is in?
1) Kathmandu
2) Dhaka
3) Thimphu
4) New Delhi
5) Islamabad
15. Gudni Johannesson assumed office as the President of which of the following countries on August
1, 2016?
1) Ireland
2) Sweden
3) Denmark
4) Slovenia
5) Iceland
16. "Sahyog Hyeoblyeog 2016" is a joint coast guard exercise held off Chennai coast recently between India and?
1) Japan
2) Vietnam
3) South Korea
4) China
5) Philippines
17. Major General Per Gustaf Lodin has been appointed as Chief Military Observer and Head of Mission for the United Nations Military Observer Group in India and Pakistan (UNMOGIP). He belongs to?
1) Ghana
2) Sweden
3) Kenya
4) Argentina
5) Bulgaria
18. Who has been appointed as the Chief Executive Officer of National Investment and Infrastructure Fund (NIIF)?
1) G. Kalyanakrishnan
2) B.S. Bassi
3) A.R. Karve
4) Sujoy Bose
5) Satya Pal Jain
19. The Indian Air Force inducted three women fighter pilots for the first time in June 2016. Who among the following is one of them?
1) Bhawana Kath
2) Avani Chaturvedi
3) Mohana Singh
4) Both 1 and 2
5) All 1, 2 and 3
20. Indigenously built heavyweight anti-submarine torpedo was inducted in the Indian Navy on June 29, 2016. What is its name?
1) Akash
2) Varunastra
3) Tiger Fish
4) Arihant
5) Astra
21. Which of the following is the mascot of the 2016 Summer Olympics held in Rio de Janeiro?
1) Tom
2) Wenlock
3) Miga
4) Tikhor
5) Vinicius
22. Which State topped in providing jobs under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) for the year 2015-16?
1) Tripura
2) Mizoram
3) Sikkim
4) Arunachal Pradesh
5) None of these
23. The recently launched "Tiger Express" semi-luxury train will take the guests onboard to the world
famous Bandhavgarh and Kanha National Parks in?
1) Odisha
2) West Bengal
3) Madhya Pradesh
4) Rajasthan
5) Uttar Pradesh
24. HDFC Ergo General Insurance Company has recently completed the acquisition of 100 percent shares of which of the following general insurance companies for
Rs. 551 crore?
1) Bharati Axa
2) Bajaj Allianz
3) ICICI Lombard
4) L&T
5) Tata-AIG
25. Which of the following microfinance institutions has been renamed as Bharat Financial Inclusion
Limited?
1) Disha Microfin
2) SKS Microfinance
3) Suryoday Microfinance
4) Bandhan
5) None of these
26. The India Post Payments Bank (IPPB) will offer demand deposits such as savings and current accounts up to a balance of?
1) Rs. 1 lakh
2) Rs. 2 lakh
3) Rs. 3 lakh
4) Rs. 4 lakh
5) Rs. 5 lakh
27. Which is the least peaceful country in the world as per the 2016 Global Peace Index?
1) Yemen
2) Ukraine
3) Libya
4) North Korea
5) Syria
28. Which Indian city hosted the junior men's hockey World Cup in December 2016?
1) Bhubaneswar
2) Nagpur
3) New Delhi
4) Lucknow
5) Chandigarh
29. The SDR scheme was introduced by the Reserve Bank of India in 2015 to help banks recover their loans by taking control of the distressed listed companies. What is the full form of this SDR scheme?
1) Strategic Drawing Rights
2) Strategic Debt Restructuring
3) Special Debt Restructuring
4) Special Debt Recovery
5) None of these
30. Which of the following are not insured by the DICGC?
1) Foreign Banks
2) Private Banks
3) Regional Rural Banks
4) Primary Cooperative Societies
5) 1 and 2
31. Which of the following is not a private sector bank?
1) Yes Bank
2) Bandhan Bank
3) Karnataka Bank
4) IDFC Bank
5) Dena Bank
32. Who among the following authors won the 2016 PEN Pinter Prize?
1) Doris Lessing
2) Margaret Atwood
3) Svetlana Alexivich
4) Paul Beatty
5) Han Kang
33. Who is the only Indian to win two gold medals at the Paralympics?
1) Deepa Malik
2) Mariyappan Thangavelu
3) Devendra Jhajharia
4) Varun Singh Bhati
5) None of these
34. Miroslav Klose, the all-time World Cup top scorer, announced his retirement recently. He played international football matches for?
1) Spain
2) Portugal
3) Poland
4) Germany
5) Italy
35. Indian currency notes are printed at four printing presses. Which of the following places is not one of them?
1) Nasik
2) Mysore
3) Dewas
4) Salboni
5) Noida
36. SBI Life Insurance is a joint venture between State Bank of India and?
1) Mitsui Sumitomo
2) AIG
3) BNP Paribas Cardif
4) Legal and General
5) IAG
37. Who won the 2016 US Open men's singles tennis title?
1) Novak Djokovic
2) Andy Murray
3) Roger Federer
4) Stanislas Wawrinka
5) Rafael Nadal
38. Ryder Cup is associated with which of the following sports?
1) Boxing
2) Cycling
3) Chess
4) Football
5) Golf
39. Who is the author of the book "The Great Derangement: Climate Change and the Unthinkable"?
1) Al Gore
2) Rajendra Pachauri
3) Amitav Ghosh
4) Jairam Ramesh
5) None of these
40. World Diabetes Day is observed on?
1) August 14
2) September 14
3) October 14
4) November 14
5) December 14
ANSWERS
1) 1 2) 2 3) 3 4) 4 5) 4 6) 3 7) 1 8) 4 9) 3 10) 4
11) 4 12) 2 13) 3 14) 4 15) 5 16) 3 17) 2 18) 4 19) 5 20) 2
21) 5 22) 1 23) 3 24) 4 25) 2 26) 1 27) 5 28) 4 29) 2 30) 4
31) 5 32) 2 33) 3 34) 4 35) 5 36) 3 37) 4 38) 5 39) 3 40) 4
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