Current Affairs Current Affairs - 20 March 2017 - Vikalp Education

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Current Affairs - 20 March 2017


General Affairs 

Singles Who Mingle With Power: Yogi Adityanath Is The Club's Newest Entrant
  • Priest-turned-politician Yogi Adityanath, 44, who took oath today as the 32nd Chief Minister of Uttar Pradesh, is the latest entrant to the singles club of chief ministers in the country. Heading the group is Prime Minister Narendra Modi, former chief minister of Gujarat.

    Their numbers received a fresh boost after the recent assembly elections in the five states. The new Uttarakhand Chief Minister, 56-year-old Trivendra Singh Rawat is single. The club already has Haryana's ML Khattar, 62, Assam's Sarbananda Sonowal, 54, Odisha's 70-year-old Naveen Patnaik and 62-year-old Mamata Banerjee from West Bengal -- all of whom are unencumbered by a family.

    Many of them are not above using their single status to strengthen their vote base. Three years ago, PM Modi had said only a person with no family ties can fight corruption in the country effectively and presented himself as that man.

    While addressing an election rally in Hamidpur in Himachal Pradesh, PM Modi had said, "Mere liye na koi aagey, na peechhey. Kiske liye bhrashtachaar karunga? (In have no family ties. I am single. Who will I be corrupt for?). This mind and body is totally devoted to the nation."

    Mr Patnaik, who has been ruling Odisha since 2000, has often told the voters that unlike the Congress family, there is no danger of his government indulging in family rule as he himself is unmarried and has no family.


    Firebrand TMC leader Mamata Banerjee, who became successful in her relentless quest to end the Left Front rule in Bengal in 2011 and is serving her second term, has often claimed in her public meetings that she has dedicated her entire life to the people of West Bengal and has no time for herself.

    Among the current crop of top politicians, Congress vice-president Rahul Gandhi, 46, BSP chief Mayawati, 61, and senior BJP leader Uma Bharti, 57, are unmarried.  


    "I'm of low caste, I'm unmarried, and I'm yours," Ms Mayawati has often proclaimed in her election rallies.

    Still considered the most eligible bachelor of India, Rahul Gandhi when asked about his singlehood ahead of 2014 Lok Sabha polls had said, "Unfortunately, I have not been focused on private life."

    Two other current chief ministers, Nitish Kumar in Bihar and Manohar Parrikar in Goa, are widowers. Like many RSS activists, Mohan Bhagwat, the chief of the ideological fountainhead of the BJP, decided against tying the knot.

    Former Prime Minister Atal Bihari Vajpayee, a poet and philosopher, never got married. He used to underline his bachelor status in meetings saying that since he has no family, there is no question of nepotism or family rule.

    The most notable among all unmarried public figures was Dr APJ Abdul Kalam, a space scientist who served as India's 11th President.

    J Jayalalithaa, the first elected woman and also the youngest Chief Minister of Tamil Nadu, began her first term in 1991. She, too, remained single all her life. She died in December last year at the age of 68.

At Yogi Adityanath's Oath Ceremony, PM Modi's Bonhomie With The Samajwadis
  • Samajwadi Party chief Akhilesh Yadav and his father Mulayam attended the swearing in ceremony of Yogi Adityanath today as Uttar Pradesh's new chief minister along with two deputy chief ministers and a 43-member cabinet.

    The oath ceremony was attended by top leaders of the BJP, including Prime Minister Narendra Modi, party chief Amit Shah, its union ministers and Chief Ministers in other states and veterans like LK Advani and Murli Manohar Joshi. 

    In attendance were also former Chief Minister Akhilesh Yadav and his father Mulayam. The father-son duo also exchanged plesantaries with the prime minister.

    Reflecting warmth, PM Modi shook hands with Akhilesh and patted him on his shoulder. He also held the hands of Mulayam, who was seen whispering something to the prime minister. And the Prime Minister was all ears.  

    This was in stark contrast to the campaigning for UP assembly elections when Akhilesh Yadav and PM Modi were often seen taking potshots at each other. 

    In his rallies, Modi had ridiculed the opposition alliance of SP and Congress, saying they together stood for 'SCAM' (Samajwadi, Congress and Mayawati).


    Not to be outdone, Akhilesh, who was leading his party in this election, came out with his own take on SCAM, saying it stood for 'Save Country from Amit (Shah) and Modi'.

    His remark asking megastar Amitabh Bachchan not to endorse "donkeys of Gujarat" also left the BJP fuming, with PM Modi hitting back at the chief minister.

    BSP supremo Mayawati, however, was not present at the venue.

    Mr Adityanath - the five-time BJP Member of Parliament from Gorakhpur and the head priest of the Gorakhnath temple - is the 32nd chief minister of Uttar Pradesh.

High Alert In Haryana Ahead Of Jat Protests, Internet Stopped In 15 Districts
  • Haryana is on high alert in anticipation to the Jat protest call by the community members in Delhi and the National Capital Region tomorrow. The state authorities have banned the movement of tractor-trolleys in districts bordering Delhi on Monday to foil a call given by the community leaders to lay siege to the capital and hold a protest outside Parliament. Internet services and bulk messages have been stopped in 15 districts till 9 am on Tuesday. 

    According to news agency IANS, a 10-litre limit has been imposed on re-fuelling of tractor-trolleys. The government has instructed petrol pump owners to record the details of the tractor-trolleys and the people travelling.

    Security forces are on high alert in districts bordering Delhi and monitoring the movement of the Jat protesters. "The Haryana Police is on high alert and people can move freely on highways. We have provided adequate security," Haryana's Director General of Police KP Singh said.

    Prohibitory orders have been imposed in fifteen districts, including include Rohtak, Sonipat, Jhajjar, Bhiwani, Panipat, Hisar, Kaithal, Charkhi Dadri, Fatehabad, Jind and Sirsa.

    This prohibits the sale of prohibiting sale of liquor, carrying of firearms and other weapons, assembly of five or more people near railway tracks and movement of tractor-trolleys carrying five or more people with food items, cooking equipment and materials and any type of weapon including lathis and swords on state and national highways.Shops selling liquor would remain closed till 9 am on Tuesday.


    The authorities have also banned pitching of tents along the state and national. Guest house, hotel and restaurant owners have been asked to maintain a record of guests.

Sushma Swaraj Says Clerics Missing In Pakistan Will Reach Delhi Tomorrow
  • Union minister Sushma Swaraj today tweeted that the two Indian clerics who went missing in Pakistan, are safe and well and will be back in Delhi tomorrow. The clerics are Syed Asif Ali Nizami, the head priest of New Delhi's Nizamuddin Dargah, and his nephew Nazim Ali Nizami. The two had gone on a visit to Pakistan on March 8 and were said to have gone missing over the week-end.

    Ms Swaraj, who had taken up the issue with the Pakistan government, tweeted this morning, saying she had spoken to Syed Nazim Ali Nizami.


    Syed Asif Ali, 80, and Nazim Ali, 66, had gone on a pilgrimage to the famous Daata Darbar shrine in Lahore and meant to visit their relatives.

    The family said they went missing after landing at the Karachi airport. Nazim Ali Nizami was stopped at the Lahore airport because he had incomplete travel papers. The family said even their cellphones had been switched off.

    According to Pakistani media reports, the two clerics had been to "interior Sindh, where there was no communication network" and that is why they could not tell their relatives about their whereabouts.  

    They were traced after they reached Nazimabad and got in touch the police, the Pakistan police had said. The two are currently in Karachi. The confirmation came after Ms Swaraj spoke to Pakistan Prime Minister's adviser on Foreign Affairs Sartaj Aziz, who is currently in London.

Scientists Probing How 2 Nuclear Reactors Contracted 'Small Pox'
  • In a highly guarded Indian nuclear reactor complex, toughened radiation resistant pipes have contracted 'small pox'.

    As a consequence, literally in a plot similar to a Bollywood thriller Indian scientists are burning the midnight oil to unravel the mysterious nuclear leak at the Kakrapar Nuclear Power Plant in Gujarat.

    This 21st century atomic pot boiler is actually unfolding through the hard work of scientists, who actually share a wall with the famous property where renowned Bollywood film star Raj Kapoor used to live. Here, they are working over-time to find out the real cause of the cryptic leaks at twin reactors in southern Gujarat.

    To avoid any panic and any further accidents, the Indian nuclear watchdog - the Atomic Energy Regulatory Board (AERB) - has shut down the affected plants till the cause has been found.

    Nuclear experts say pipes, made from a rare alloy, have contracted what seems like 'small pox' and this contagion has spread all over the critical tubes in two Indian Pressurised Heavy Water Reactors (PHWR) at Kakrapar in Gujarat.And, to make the matters worse, after more than a year into the investigation, the teams of scientists really do not understand what has gone wrong.

    It was on the morning of March 11, 2016, and as fate would have it exactly five years after the Fukushima reactors in Japan started exploding, unit number 1 of the 220-MW PHWR at Kakrapar developed a heavy water leak and had to be shut down in an emergency.


    The indigenously built nuclear plant suffered a heavy water leak in its primary coolant channel and a plant emergency was declared at the site.

    No worker was exposed and no radiation leaked outside the plant, confirmed India's Department of Atomic Energy.

    India's nuclear operator, Nuclear Power Corporation of India Limited (NPCIL) said "reactor had shut down safely" and "no radiation leaked out".

    It confirmed that safety systems had functioned normally.

    The atomic thriller really begins when experts are trying to find out why a leak recognition system failed, in the first place it should have given an alarm.

    "There is a leak detection system in place in all PHWRs, but in this case it failed to detect the leak on March 11, 2016," confirms AERB Chairman S A Bhardwaj. AERB speculates that the crack developed so rapidly that the electronic leak detection system just did not had the time to react.

    Subsequent investigations revealed that the leak detection system was fully functioning and the operator had "NOT shut it down" to cut costs.

    Nothing in the core of a nuclear reactor can be done in a jiffy and several weeks after the first leak, initial probe using a specially designed tool revealed that four big cracks had formed on a coolant tube which led to the massive leak.

    The discovery of the crack was only the beginning of the mystery, further efforts to find the root cause established that the outside of the tube, the part which was not exposed to high temperature heavy water, was also for some unexplained reason "corroded".

    This was a stunning discovery, since the outside of the failed tube was exposed only to high temperature carbon dioxide and there had been no recorded case of a similar corrosion having been seen on the outside of any tube. It is also very hard to access this part since the space was very tiny in the annulus.

    The AERB then ordered that all the tubes made out of a special alloy of zirconium-niobium be checked on the outside, to their surprise, they discovered that the contagion of the "nodular corrosion" or what in layman's language can also be described as "small pox-like" was very widespread in many of the 306 tubes.

    Tubes made from the same batch and used at other Indian reactors continue to operate faithfully, without corrosion.

    The needle of suspicion now pointed to the carbon dioxide, a gas known to be very stable in high radiation environments.

    A further postmortem revealed that the Unit-2 which is twin of the affected reactor had also been affected by a similar leak on July 1, 2015 almost ten months before the Unit 1 had a sudden appalling failure in March 2016.


    Investigations into why the Unit-2 failed were ongoing but no conclusive result had been found. This literally back-to-back failure of two fully functional nuclear reactors befuddled the engineers.

    Unrelenting in trying to find out the root cause, the AERB ordered that entire assembly and not just the affected tube be safely pulled out and brought to India's foremost nuclear laboratory, the Bhabha Atomic Research Center (BARC) in Mumbai for detailed failure analysis.

    It is this laboratory located at Trombay in Chembur, in Mumbai that shares geography with India's famous Bollywood Kapoor family.

    In addition, since India operates another 16 similar nuclear plants, a full-fledged investigation was carried out on the coolant channels of all atomic power plants and lo-and-behold the investigating team found that the "small pox" like corrosion was confined only to the two units that operated at Kakrapar.

    While this gave a sigh of relief to the NPCIL but it increased the complexity on trying to unravel the true cause of the leaks at Kakrapar.

    Today, Bhardwaj says the investigators are wondering if the carbon dioxide used in Kakrapar may have been contaminated which caused the "nodular corrosion" on the outside of the pipes.

    The source of the carbon dioxide was further back traced and it seems only the Kakrapar plant was sourcing its gas from a "Naptha cracking unit" and possibly it has some contamination of hydrocarbons.

    No conclusive evidence on the contamination has been forthcoming and forensic analysis is still under way.

    As it turns out nuclear engineers are masters of book-keeping especially when ageing of equipment is concerned and a more detailed check in the history of the plants revealed that in 2012 two tubes had been extracted from the Kakrapar plant as part of routine maintenance and had been safely stored in a safe warehouse.

    When these were re-examined in 2017, the investigators were surprised that the "small pox" like corrosion on the exterior of the tube was not present. This now makes the investigators suspect that something went wrong after 2012.

    Meanwhile, the AERB and the atomic energy establishment has also reached out to the vast global nuclear community to try and help resolve this mystery.

    The global watchdog the International Atomic Energy Agency in Vienna and ten other global forums have been informed that a mysterious leak is dogging the Indian reactors at Kakrapar and if the global community could be of some help.

    The international community is as much at a loss in explaining the failures as are the Indian teams.

    India operates 18 PHWR reactors and over the years it has accumulated some 348 years of operating experience of these unique nuclear plants powered using natural uranium and in all these years, the Department of Atomic Energy asserts no radiation related death has taken place at any nuclear plant and no radiation has ever leaked out of the Indian PHWR's.

    In addition to it, 29 PHWRs are today functional in Canada, Argentina, Romania, China, South Korea and Pakistan and none have reported any issue like the 'small pox like corrosion' on any of its nuclear plants.

    Bharadwaj says right now there are only hunches but teams at BARC are exposing the Zircalloy tubes to carbon dioxide spiked with various contaminants and they are being placed in a high radiation environment to accentuate the aging process to try and determine the exact cause of the two processes---"small pox like nodular corrosion and the development of cracks in the coolant tubes."

    These could be linked or independent, says Bhardwaj, who feels that in the next few months, the root cause will definitely be deciphered till then the reactors will remain shut.

    India currently operates 22 nuclear reactors with an installed capacity of 6,780 MW and hopes to ramp up nuclear output to 32,000 MW by 2032.

    Meanwhile, the continuing nuclear mystery is giving the vast Indian nuclear establishment and its atomic sleuths 'nuclear jitters'.

Business Affairs 

Air Passenger Traffic Rises 16% In February
  • Domestic air passenger traffic surged nearly 16 per cent to 86.55 lakh in February in the same period a year ago, according to the DGCA data.

    Indian carriers together flew a total of 86.55 lakh passengers in February 2017 as compared to 74.76 lakh fliers in the same month of 2016, registering a growth of 15.77 per cent, it said.

    Significantly, in January, air passenger traffic had surged 25.13 per cent to 95.79 lakh. 


    According to the data, budget carrier IndiGo ferried the highest number of passengers in February at 34.19 lakh, rival SpiceJet continued to see the highest seat factor across its flights.

    The load factor of SpiceJet in February stood at 93.7 per cent in the reporting month, according to the DGCA data.

    Besides, SpiceJet also delivered the highest on-time performance (OTP) from four metro airports at 81.1 per cent in February 2017, as per the data.

Reliance Capital Eyes 'Huge Gains' From Sula, Grover Vineyards Stake Sale
  • After making a killing with a 27-fold return from sale of Paytm stake, Anil Ambani-led Reliance Capital is eyeing "huge capital gains" from sale of other non-core investments, including two leading vineyards of the country.

    The two firms -- Sula Vineyards and Grover Vineyards -- together command nearly 70 per cent of the India's wines market, which is witnessing huge interest from global investors as well.

    Reliance Capital, the financial services arm of Ambani-led business conglomerate, had acquired shares in the two vineyards for about Rs 171 crore and has held these investments for about three years now. 


    As part of its strategy of selling a substantial portion of these non-core assets by March 2018, Reliance Capital recently offloaded a small stake in digital payments major Paytm for about Rs 275 crore, earning a huge 27-time return on an investment of just about Rs 10 crore.

    It is also in the process of completing some already-sealed asset sale transactions in the films and media services, exhibition business as also in radio and TV segments with significant capital gains.

    Sources said Reliance Cap is now looking forward to sell several other non-core investments including Sula and Grover Vineyards, and the industry estimates suggest the capital gains could be huge given the market share commanded by these firms and in view of the interest of global investors in the Indian wine market.

    At an analyst meet hosted by Reliance Capital last week, its chairman Anil Ambani had said all non-core investments to be monetised by March next year would lead to large capital gains.

    According to the analysts present at the meet, a presentation made there listed all "valuable private equity investments" including Paytm (already monetised), Paytm e-commerce, Yatra Online, Sula Vineyard, Grover Vineyard and Mahindra First Choice.

    Analysts quoted Ambani as having said that the two names -- Sula and Grover Vineyards -- stand out in the list.

    "It is very very strange, I being a teetotaler, we are still invested in those businesses. They command 70 per cent market share in the wine market in India and there are tremendous growth opportunities," one analyst quoted him as having said.

    "But that does not mean we should keep those businesses. We will consolidate those businesses and we will move forward. There is a lot of global investor interest in this business and those are great value creation opportunities in front of us," the Reliance Group chairman told the analysts.

    Reliance Capital, which is present across life, general and health insurance, mutual funds, brokerage, home and commercial finance, portfolio management and financial sector distribution among other areas, told the analysts it is solely focussed on financial services businesses.

    It has a strong financial platform with a net worth of Rs 16,000 crore and enjoys a comfortable asset-liability position. The group is also betting big on its commodity exchange platform.

E-Commerce Companies To Pay Up To 1% Tax Collected At Source Under GST
  • E-commerce firms like Snapdeal and Amazon will have to mandatorily deduct up to 1 per cent TCS (Tax Collected at Source) while making payments to their suppliers under the GST regime which is expected to kick in from July 1.

    The model Goods and Services Tax (GST) law, finalised by the GST Council, provides for 1 per cent TCS to be deducted by the e-commerce operators.

    The model law provides that every electronic commerce operator, not being an agent, shall collect up to one per cent TCS, as may be notified on the recommendations of the Council, of the net value of taxable supplies made through it by other suppliers where the consideration with respect to such supplies is to be collected by the operator. 



    Experts had raised concerns saying this would mean that a similar amount will have to be levied on inter-state movement of goods, taking the total TCS deduction to 2 per cent.

    "We have included the word 'up to' in the final model GST law. This would mean that TCS would not exceed 1 per cent of the sale proceeds," an official said.

    Industry has been expressing concern over the TCS provisions saying it would mean a lock-in of capital and also dissuades companies from selling through online aggregators.

    E-commerce companies will also have to file returns on the TCS deductions, but in case of return of goods by the consumer, these companies will not have to deduct TCS as there is no actual sale.

    The model law had defined 'electronic commerce' as supply of goods or services, including digital products, over electronic network.

    'Electronic commerce operator' would mean those persons who own, operate or manage digital or electronic facility or platform for electronic commerce.

    Indian Markets Can Raise $100 Billion A Year: BSE CEO
    • Indian stock market can raise $100 billion of capital annually going ahead to help meet the country's funding needs, top bourse BSE's CEO Ashish Chauhan has said while pegging the amount estimated to be raised through his exchange alone at $30 billion this fiscal.

      He said the capital markets have the potential to contribute nearly half of the estimated $2 trillion of funding required over the next ten years for infrastructure building, setting up of new businesses, expansion of existing businesses, creation of jobs and other requirements to drive India's growth story.

      In an interview to PTI, Chauhan said this target is "completely doable" given the high savings rate of Indians and what is required is channelising of these savings into financial market instruments. 



      Chauhan said the debt market in India would need to play a much larger role than equities, which was the case globally, for such high levels of fund raising activities, while he asserted that the necessary infrastructure and technology is there already in place for meeting these targets.

      The chief of Asia's oldest bourse, who recently steered a highly successful IPO of the exchange that was pending for almost a decade, said one of the biggest functions for the markets is capital formation.

      "India will need $2-2.5 trillion of funds over the next ten years and for that the exchanges would also have to stand up and get counted. India cannot raise funds only through banks.

      "So, if half of the funds are raised through markets and half through the banks, then a trillion dollars would have to be raised through the exchanges, whether from the GIFT City (international financial centre) or from the domestic exchanges. 

      "Raising $1 trillion over a ten-year period would mean nearly $100 billion a year. As of now, BSE alone is helping raise from equity and debt put together, nearly $28-30 billion for the current fiscal. It's not yet close to $100 billion, but that target is doable," he said.

      Chauhan said there is also a need to ensure that the entire paraphernalia, in terms of peripheral systems, also keeps pace.

      Asked whether there was the right kind of infrastructure for such kind of fund raising activities, he replied in affirmative.

      Talking about the availability of such huge amount of funds in the country, he said India's GDP is around $2.5 trillion and India saves around 35 per cent.

      "So basically we are saving around $750 billion a year. If we assume a growth of 7 per cent per annum, you are going to be saving close to $10 trillion over the next ten years. 

      "Out of this, if we raise $2 trillion, that would still be only 20 per cent. So, India has a lot of funds which are being saved and it is our duty -- of the people running the financial market institutions -- to create that trust and get people to invest through the markets into various instruments."

      Talking about the mandate for stock exchanges and others in the marketplace, he said secondary markets and the derivatives need to be the part of the overall scheme of things in how the markets can help the central government, states, municipalities and others raise funds for creating infrastructure, companies and jobs, as also for business expansion and other needs.

      "If we are able to do that then basically if India was to grow at 7 per cent, then India may very well grow at 8-9 per cent if we are able to fund India's growth from within.

      "This way the people who are investing would also get good returns for their investments and the companies would be able to raise funds at much more competitive rates."

      Chauhan said the recent introduction of bankruptcy code will also help give a big boost to the bond market and termed it a "very significant reform that has taken place without much talk about it".

      "Traditionally, debt markets have been larger than equity markets in the world. It is only India that the listed debt is around one-fifth of the listed equities and it is other way round in most other markets.

      "This means, there is a huge upside in the bond markets in terms of raising funds. Going ahead, if we have to target $100 billion a year of fund raising through markets, bonds would need to play a much larger role."

      D-Mart Parent Avenue Supermarts To List Shares On Tuesday
      • Avenue Supermarts, which recently concluded its Rs 1,870-crore initial public offering, will list its shares on bourses on Tuesday.

        The IPO, the biggest since PNB Housing Finance's Rs 3,000 crore offer in October last year, was subscribed more than 104 times earlier this month.

        Last year, Advanced Enzyme's initial share sale was subscribed 116 times and that of Quess Corp by 145 times.



        The price band for the public issue of Avenue Supermarts, the operator of retail chain D-Mart, was fixed at Rs 295-299 and the IPO was open for subscription during March 8-10.

        Proceeds of the issue would be utilised for various purposes, including loan repayment.

        The public issue was managed by nine merchant bankers Kotak Mahindra Capital, Axis Capital, Edelweiss Financial Services, HDFC Bank, ICICI Securities, Inga Capital, SBI Capital Markets, JM Financial Institutional Securities and Motilal Oswal Investment Advisors.

      General Awareness

      Banking Awareness Practice MCQs for All Bank Exams

      • 1. ____ is raised in capital markets
        a) Funds through long term securities
        b) Long term loans through Govt. securities
        c) Medium term loans
        d) Short - term instruments
        e) None of the above

        2. Interest on Government securities on fixed basis is known as:
        a) Bank rate
        b) Coupon
        c) Prime Lending Rate
        d) Bench mark PLR
        e) None of the above

        3. What is meant by development Oriented banking?
        a) Infrastructure financing
        b) Extending loans to States, which are least developed
        c) Taking up the task of development of the economy by providing support to under privileged sections of the society
        d) All of the above
        e) None of the above

        4. The main function of SIDBI is:
        a) Promotion of SSI
        b) Finance of SSI
        c) Development of SSI
        d) All of the above
        e) None of the above

        5. When a bank returns a cheque unpaid, it is called?
        a) Payment of the cheque
        b) Drawing of the cheque
        c) Cancelling of the cheque
        d) Dishonour of the cheque
        e) Taking of the cheque

        6. RBI pays interest on CRR balances of banks at _____.
        a) Bank Rate
        b) Repo Rate
        c) Bank Rate minus 2%
        d) Zero %
        e) None of the above

        7. The Bank should comply and intimate the compliance of Award to Ombudsman within ______
        a) 2 Months
        b) 3 months
        c) One month
        d) One year
        e) None of the above

        8. What are the features of selective credit control?
        a) They distinguish between essential and nonessential uses of Bank credit
        b) Only nonessential uses are brought under the scope of Credit Bank controls
        c) They affect not only the lenders but also the borrowers
        d) All the above
        e) None of the above

        9. Which of the following are the targets for different categories of priority sector?
        a) Overall target 40% of net Bank credit
        b) Agriculture loans (direct and indirect) 18%
        c) Priority sector target for foreign Banks is 32%
        d) All of the above
        e) None of the above

        10. Which of the following can be called as intermediary in the Financial System?
        a) Insurance companies
        b) Banking companies
        c) Mutual funds
        d) All of the above
        e) None of the above

        11. A depositor wants to give nomination in favour of a Needy Charitable Trust. Is it acceptable to the banker?
        a) Yes, anyone can be a nominee
        b) No, only a blood relative should be a nominee
        c) As per the discretion of the Branch Manager
        d) No, as per Nomination Guide lines only Individuals can be nominated as Nominee and not institutions
        e) None of the above

        12. Which of the following is not an India based credit rating agency?
        a) CRISIL
        b) CARE
        c) Standard & Poor
        d) ICRA
        e) None of the above

        13. SMERA is an SME Rating Agency in India meant for?
        a) Rating on credit worthiness of MSME
        b) Rating on Quality Management
        c) Rating on Training System
        d) Rating on Technology usage in the organization
        e) None of the above

        14. Which of the following is not insured by the DICGC?
        a) All Indian commercial Banks
        b) Foreign Banks branches functioning in India
        c) Local Area Banks
        d) Cooperative Banks
        e) Primary cooperative societies

        15. Which of the following is not a feature of Recurring Deposit Account?
        a) Rate of interest will be higher than Savings Bank Account
        b) Loan facility is available on Recurring Deposit
        c) No TDS on the interest earned
        d) Premature closure of the Recurring Deposit Account is not allowed
        e) None of the above

        16. Cash Reserve Ratio is to be maintained by banks with reference to which of the following?
        a) Time liabilities
        b) Demand liabilities
        c) Time and demand liabilities
        d) Net demand and time liabilities
        e) None of the above

        17. What is the minimum CRR as per the relevant Act?
        a) No minimum
        b) 4%
        c) 3%
        d) 6%
        e) 8%

        18. Which of the following is not true in case of SARFAESI Act 2002?
        a) Banks can take action of recovery of loan, in case of NPA, without intervention of court
        b) Minimum Rs 1.00 lakh overdue should be in the loan account
        c) Sixty days notice to be given under the Act to the defaulted borrower
        d) SARFAESI Act can be implemented even if one installment in term loan is overdue
        e) All of the above

        19. The main function of an Asset Management Company is:
        a) Hold the securities of various schemes
        b) Manage the funds by making investments in various types of securities
        c) Hold its property for the benefit of the unit holders
        d) Act on behalf of SEBI
        e) All of the above

        20. Which kind of assistance is provided by EXIM Bank to Indian Companies?
        a) Direct loans to exporters
        b) Technology services
        c) Credit for export of capital goods
        d) a and b
        e) All of the above

        21. Which of the following includes "banking business" as per Banking Regulation Act?
        a) Acceptance of deposit
        b) Collection of bills
        c) Buying of foreign exchange
        d) All of the above
        e) None of the above

        22. Which of the following acts deals with the Right of Appropriation?
        a) Indian Contract Act
        b) Companies Act
        c) Negotiable Instruments Act
        d) All of the above
        e) None of the above

        23. Depositories hold shares in _ form:
        a) Physical
        b) Dematerialized
        c) Either a or b
        d) Both a and b
        e) None of the above

        24. What is the full form of NBMSME?
        a) National Bank for Micro, Small and Medium Enterprises
        b) National Board for Micro, Small and Medium Enterprises
        c) National Board for Micro, Selected Medium Enterprises
        d) National Bank for Medium and selected Medium Entrepreneurs
        e) None of the above

        25. Mr Kanungo is appointed as RBI Deputy Governor (who is presently Executive Director in
        the central bank) will replace Mr._______ , Deputy Governor.
        a) Viral Achary
        b) NS Vishwanathan
        c) R.Gandhi
        d) S.S.Mundra
        e) None of the above

        26. Which type of machine is used by Business Correspondents?
        a) Micro ATMs
        b) POS
        c) Biometric Card Reader
        d) Solar empowered
        e) Water resistant

        27. _____ provides Clearing House facilities for netting of Payments and Security delivery:
        a) Primary dealers
        b) Banks
        c) Stock exchanges
        d) All of the above
        e) None of the above

        28. ____ is the regulatory authority for Mutual funds:
        a) IRDA
        b) SEBI
        c) RBI
        d) Ministry of Corporate affairs
        e) All of the above

        29. The Main activity of the Financial Intelligence Unit India (FIUIND) is to control:
        a) Tax Evasion
        b) Money Laundering
        c) Terrorism
        d) Avoiding NPAs
        e) Avoiding frauds in ATMs

        30. Primary dealers deal in:
        a) Shares
        b) Insurance
        c) Government securities
        d) None of the above
        e) All of the above

        31. The main function of an Asset Management Company is to:
        a) hold the securities of various schemes
        b) manage the funds by making investments in various types of securities
        c) hold its property for the benefit of the unit holders
        d) act on behalf of SEBI
        e) All the above

        32. What is the purpose of reduction in Cash Reserve Ratio (CRR)?
        a) Reduce Credit Flow
        b) Enhance Credit Flow
        c) Enhance availability of cash
        d) Reduce Cash transactions
        e) None of the above

        33. In India, conventionally, bonds are issued by institutions in ____ sector while debentures by corporate in ____ sector.
        a) private, public
        b) public, private
        c) either a or b
        d) cooperative, NBFC
        e) None of the above

        34. Who notifies Foreign Trade Policy?
        a) RBI
        b) DGFT
        c) Govt. of India
        d) ECGC
        e) None of the above

        35. Cash kept in the currency chest is owned by?
        a) Currency Chest branch bank
        b) State Bank of India
        c) Central Government
        d) Reserve Bank of India
        e) None of the above

        36. Expand the term LIBOR as used in financial banking sectors?
        a) Local Indian Bank Offered Rate
        b) London-India Bureau of Regulations
        c) Liberal International Bank Official Ratio
        d) London Inter Bank Offered Rate
        e) None of the above

        37. Which one of the following rates is NOT decided by the RBI?
        a) Bank Rate
        b) Repo Rate
        c) Reverse Repo Rate
        d) Income Tax Rates
        e) Only a & b

        38. When more than one bank is allowing credit facilities to one party in coordination with each
        other under a formal arrangement, the arrangement is generally known as:
        a) Participation
        b) Consortium
        c) Syndication
        d) Multiple Banking
        e) All the above

        39. The headquarters of International Monetary Fund is ___
        a) Geneva
        b) Paris
        c) London
        d) Manila
        e) Washington

        40. Who is the new chairman of SEBI?
        a) Ajay Yogi
        b) UK Sinha
        c) TS Vijayan
        d) G Srinivasan
        e) None of the above

        Answers:
        1) a 2) b 3) c 4) d 5) d 6) d 7) c 8) d 9) d 10) d
        11) d 12) c 13) a 14) e 15) d 16) d 17) a 18) d 19) b 20) e
        21) d 22) a 23) b 24) b 25) c 26) c 27) c 28) b 29) b 30) c
        31) b 32) b 33) b 34) b 35) d 36) d 37) d 38) b 39) e 40) a

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