General Affairs
F16s are old, but Lockheed-Tata partnership will push Make In India initiative
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All the MiG 21s and MiG 27s in the Indian Air Force (IAF) arsenal is due to retire by 2025. IAF has 33 squadrons of fighter aircrafts and the numbers are dominated by single engine fighters.
India will be having 36 Dassault fighters but this number is not enough to cover operational requirements. So basically a search for a single engine replacement for the MiG 21 continues.
News came in that the defence arm of the Tata Group has signed an agreement with American firm Lockheed Martin to produce and export new generation F-16 fighter aircraft. Tata Advanced Systems Limited-Lockheed Martin combine will be in direct competition with Sweden's Saab, whose Gripen fighter aircraft will be up for the trial too.
If F16s win the trials, Lockheed Martin would move the entire production line from Texas to India. If it so happens it will be a major, if limited boost for the 'Make in India' initiative. The move may feature in PM Modi's upcoming summit talks with US President Donald Trump.
The F16 Block 70 is more than an upgrade on the F 16 IN Super Viper, which was a contender in MMRCA competition. Now Saab JAS 39 Gripen E on offer to India for the trials is a formidable single engine fighter.
It is probably the most advanced in its category and its life cycle costs and maintenance costs are lower. However, this nifty Swiss offering uses an US engine and that could be an issue. Besides, a Gripen costs more than the Block 70 F 16 on offer.
F16 AIRCRAFTS PEERLESS
Thirdly if you are looking for a proven fighter then Gripen is not battle proven - and in that department F16s are peerless. The Block 70 version is in operation across 27 countries with the latest probably being Romania.
Another factor that can tilt the decision in favour of F16 is that currently about 32,000 are in service worldwide and if US and Lockheed Martin agree to make India the hub of manufacturing spares as well it could offset the investment cost of setting up the manufacturing hub.
Besides, the capacity of the F 16 to fly unrefueled for over 4,300 km or its ability to fly over the Himalayas and the prospect of interoperability with over 26 air forces worldwide gives it an edge, although the same will rule out plotting any strategic surprises with the F 16.
Then the F16 Block 70-72 will probably cost IAF around USD 10 million cheaper apiece than the Gripen which is in the bracket of USD 30-60 million bracket.
ECONOMICALLY VIABLE
So basically we have a modern 4.5 generation multi role fighter that is costlier and a proven workhorse that has few surprises but is economically viable.
Over and above shifting of production line to India would ensure some reduction in maintenance cost and cost of spare parts.
All the MiG 21s and MiG 27s in the Indian Air Force (IAF) arsenal is due to retire by 2025. IAF has 33 squadrons of fighter aircrafts and the numbers are dominated by single engine fighters.
India will be having 36 Dassault fighters but this number is not enough to cover operational requirements. So basically a search for a single engine replacement for the MiG 21 continues.
News came in that the defence arm of the Tata Group has signed an agreement with American firm Lockheed Martin to produce and export new generation F-16 fighter aircraft. Tata Advanced Systems Limited-Lockheed Martin combine will be in direct competition with Sweden's Saab, whose Gripen fighter aircraft will be up for the trial too.
If F16s win the trials, Lockheed Martin would move the entire production line from Texas to India. If it so happens it will be a major, if limited boost for the 'Make in India' initiative. The move may feature in PM Modi's upcoming summit talks with US President Donald Trump.
The F16 Block 70 is more than an upgrade on the F 16 IN Super Viper, which was a contender in MMRCA competition. Now Saab JAS 39 Gripen E on offer to India for the trials is a formidable single engine fighter.
It is probably the most advanced in its category and its life cycle costs and maintenance costs are lower. However, this nifty Swiss offering uses an US engine and that could be an issue. Besides, a Gripen costs more than the Block 70 F 16 on offer.
F16 AIRCRAFTS PEERLESS
Thirdly if you are looking for a proven fighter then Gripen is not battle proven - and in that department F16s are peerless. The Block 70 version is in operation across 27 countries with the latest probably being Romania.
Another factor that can tilt the decision in favour of F16 is that currently about 32,000 are in service worldwide and if US and Lockheed Martin agree to make India the hub of manufacturing spares as well it could offset the investment cost of setting up the manufacturing hub.
Besides, the capacity of the F 16 to fly unrefueled for over 4,300 km or its ability to fly over the Himalayas and the prospect of interoperability with over 26 air forces worldwide gives it an edge, although the same will rule out plotting any strategic surprises with the F 16.
Then the F16 Block 70-72 will probably cost IAF around USD 10 million cheaper apiece than the Gripen which is in the bracket of USD 30-60 million bracket.
ECONOMICALLY VIABLE
So basically we have a modern 4.5 generation multi role fighter that is costlier and a proven workhorse that has few surprises but is economically viable.
Over and above shifting of production line to India would ensure some reduction in maintenance cost and cost of spare parts.
Gorkhaland unrest: Indefinite shutdown to continue in Darjeeling, GJM decides to pull out of GTA
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An all party meeting called by the Gorkha Janmukti Morcha to decide the future course of the Gorkhaland agitation has decided to continue the indefinite shutdown in the Darjeeling hills.
The meeting, which was held at the Darjeeling gymkhana club was attended by fourteen political parties and social organisations, including all major hill based Gorkha parties and the BJP. However, the Trinamool Congress decided not to take part in the meet. This was the second such all party meeting called by the GJM in the hills.
The meeting unanimously decided the formation of an All India Coordination Committee for Gorkhaland, a body that will have representation of all political parties supporting the movement in order to carry the agitation forward.
GJM central committee member P Arjun said that the joint forum of parties had decided that all elected members of the Gorkhaland Territorial Administration (GTA) will pull out of the semi-autonomous body. The GTA was formed in 2011 as part of a tripartite agreement between the central government, GJM and the Mamata Banerjee led West Bengal administration.
With the demand for a separate state of Gorkhaland as the single point agenda, the hills parties criticiSed the Bengal government's decision to suspend mobile internet services in Darjeeling, and called for immediate withdrawal of army and central para-military forces for restoring normalcy in the region.
While calling for a boycott of the all party meeting called by the state government in Siliguri on June 22, the forum decided to meet again on June 24. Meanwhile, a GJM delegation will be meeting Minister of State for Home Affairs Kiren Rijiju in Gangtok on Tuesday evening to appraise the centre of the prevailing situation in Darjeeling.
An all party meeting called by the Gorkha Janmukti Morcha to decide the future course of the Gorkhaland agitation has decided to continue the indefinite shutdown in the Darjeeling hills.
The meeting, which was held at the Darjeeling gymkhana club was attended by fourteen political parties and social organisations, including all major hill based Gorkha parties and the BJP. However, the Trinamool Congress decided not to take part in the meet. This was the second such all party meeting called by the GJM in the hills.
The meeting unanimously decided the formation of an All India Coordination Committee for Gorkhaland, a body that will have representation of all political parties supporting the movement in order to carry the agitation forward.
GJM central committee member P Arjun said that the joint forum of parties had decided that all elected members of the Gorkhaland Territorial Administration (GTA) will pull out of the semi-autonomous body. The GTA was formed in 2011 as part of a tripartite agreement between the central government, GJM and the Mamata Banerjee led West Bengal administration.
With the demand for a separate state of Gorkhaland as the single point agenda, the hills parties criticiSed the Bengal government's decision to suspend mobile internet services in Darjeeling, and called for immediate withdrawal of army and central para-military forces for restoring normalcy in the region.
While calling for a boycott of the all party meeting called by the state government in Siliguri on June 22, the forum decided to meet again on June 24. Meanwhile, a GJM delegation will be meeting Minister of State for Home Affairs Kiren Rijiju in Gangtok on Tuesday evening to appraise the centre of the prevailing situation in Darjeeling.
2016 Pathankot terror attack: Airbase commander resigns after IAF report exposes security holes
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The Defence Security Corps soldiers who were mowed down by terrorist at the Pathankot airbase on January 2, 2016 perhaps could have been saved had the terrorist been pinned down, an internal inquiry has now revealed in a report accessed by India Today.
Terrorists stormed the frontline fighter base of the Indian Air Force (IAF) near the India-Pakistan border on January 2 last year. The operation to flush out the terrorist lasted for three days during which seven security personnel were killed.
The inquiry was ordered after Prime Minister Narendra Modi, in a meeting with top security officials, expressed his displeasure and concern over the manner in which terrorist stormed the airbase. The IAF, which initially hadn't ordered an inquiry, was forced to order one. The inquiry conducted by Air Vice-Marshal Amit Dev is understood to have revealed that basic security protocol weren't followed at the airbase and has apportioned responsibility on senior IAF officials at the airbase.
The inquiry is understood to have concluded that the airbase wasn't able to come-up with comprehensive plan to defend the airbase although there was clear and precise intelligence about the attack.
The then Pathankote Airbase Commander Air Commodore J S Dhamoon, an officer who finds mention in the inquiry report, has put in his papers. Besides, some IAF officers and soldiers are likely to lose their seniority as a punishment for not following procedure, top sources said. The then security officer of the airbase has also come in for criticism.
Shockingly the route used by the terrorist to enter the airbase was flagged-up as a "vulnerable point" a few months prior to the attack. A mentally unstable man breached the security and entered the airbase using the same route, sources said the report has observed.
The report says that security of the 2000 acre frontline airbase had several gaps and standard operating procedure to secure installations had been violated making it easy for the terrorist to enter and hide within the base. For instance the inquiry says that trees and under-growth along the perimeter wasn't removed. Guard post along the perimeter weren't properly maintained and flood lights along the airbase to detect intrusions weren't functioning or maintained.
Interestingly, the inquiry has also found that the airbase security failed to detect ropes - used to climb the airbase wall, personal clothing item and food left behind by the terrorist when they entered the airbase even though base was on a high alert.
The Ministry of Defence didn't respond to queries of India Today.
Earlier last month, the Chief of Air Staff, Air Chief Marshal BS Dhanoa in a personnel letter to the IAF personnel had warned about lax standards, lack of professionalism in the force and favouritism creeping into the forces. The letter sent to 12000 officers of the IAF said that there was no room for slackness in the force.
FALL-OUT OF THE INQUIRY
Garud commandos - the special forces of the Indian Air Force - who were first to interdict the terrorist on January 2, 2016, will now be deployed along the Indian Army in counter-terror operations in Jammu and Kashmir. "The Garuds are a competent force, but they need to battle hardened. Based on the inquiry report the government has decided to deploy them in Jammu and Kashmir for battle inoculation," top sources said.
The Defence Security Corps soldiers who were mowed down by terrorist at the Pathankot airbase on January 2, 2016 perhaps could have been saved had the terrorist been pinned down, an internal inquiry has now revealed in a report accessed by India Today.
Terrorists stormed the frontline fighter base of the Indian Air Force (IAF) near the India-Pakistan border on January 2 last year. The operation to flush out the terrorist lasted for three days during which seven security personnel were killed.
The inquiry was ordered after Prime Minister Narendra Modi, in a meeting with top security officials, expressed his displeasure and concern over the manner in which terrorist stormed the airbase. The IAF, which initially hadn't ordered an inquiry, was forced to order one. The inquiry conducted by Air Vice-Marshal Amit Dev is understood to have revealed that basic security protocol weren't followed at the airbase and has apportioned responsibility on senior IAF officials at the airbase.
The inquiry is understood to have concluded that the airbase wasn't able to come-up with comprehensive plan to defend the airbase although there was clear and precise intelligence about the attack.
The then Pathankote Airbase Commander Air Commodore J S Dhamoon, an officer who finds mention in the inquiry report, has put in his papers. Besides, some IAF officers and soldiers are likely to lose their seniority as a punishment for not following procedure, top sources said. The then security officer of the airbase has also come in for criticism.
Shockingly the route used by the terrorist to enter the airbase was flagged-up as a "vulnerable point" a few months prior to the attack. A mentally unstable man breached the security and entered the airbase using the same route, sources said the report has observed.
The report says that security of the 2000 acre frontline airbase had several gaps and standard operating procedure to secure installations had been violated making it easy for the terrorist to enter and hide within the base. For instance the inquiry says that trees and under-growth along the perimeter wasn't removed. Guard post along the perimeter weren't properly maintained and flood lights along the airbase to detect intrusions weren't functioning or maintained.
Interestingly, the inquiry has also found that the airbase security failed to detect ropes - used to climb the airbase wall, personal clothing item and food left behind by the terrorist when they entered the airbase even though base was on a high alert.
The Ministry of Defence didn't respond to queries of India Today.
Earlier last month, the Chief of Air Staff, Air Chief Marshal BS Dhanoa in a personnel letter to the IAF personnel had warned about lax standards, lack of professionalism in the force and favouritism creeping into the forces. The letter sent to 12000 officers of the IAF said that there was no room for slackness in the force.
FALL-OUT OF THE INQUIRY
Garud commandos - the special forces of the Indian Air Force - who were first to interdict the terrorist on January 2, 2016, will now be deployed along the Indian Army in counter-terror operations in Jammu and Kashmir. "The Garuds are a competent force, but they need to battle hardened. Based on the inquiry report the government has decided to deploy them in Jammu and Kashmir for battle inoculation," top sources said.
International Yoga Day: Saffron mats for Modi, Yogi for mega event in Lucknow
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The stage is all set for Prime Minister Narendra Modi to celebrate the International Yoga Day in Lucknow on Wednesday. PM Modi will be accompanied by Uttar Pradesh Chief Minister Yogi Adityanath and around 20 other people, all of whom will practise a number of yoga asanas on saffron-coloured yoga mats on the dais.
The around 52,000 other participants, who will be ferried by around 1,000 buses, who will join in the celebrations at the Rama Bai Ambedkar ground near the Lucknow airport, will be given mats coloured green and fluorescent orange. The event will begin at 6.30 am, with various yoga committees and the media being told to assemble and take their places by 3.30 am on Wednesday.
Meanwhile, tight security has been put in place at the Rama Bai Ambedkar ground, which is located beside a highway near the Lukcnow airport. Four rings of security have been deployed around the ground and the senior superintendent of police and the district magistrate are monitoring arrangements 24x7.
Metal scanner and detectors have been installed while dog squads are making the rounds of the ground. The Special Protection Group, responsible for the prime minister's safety, has carried out multiple rounds of checks and passes to the International Yoga Day event have been issued only after background security checks.
Meanwhile, based on intelligence inputs, 27 student leaders from the Samajwadi Party and the All India Students' Association have been identified as probable protestors. Police teams carried out three raids in Lucknow, at Mahanagar, Hasanganj and Ashiyana, to place potential troublemakers under preventive detention.
The stage is all set for Prime Minister Narendra Modi to celebrate the International Yoga Day in Lucknow on Wednesday. PM Modi will be accompanied by Uttar Pradesh Chief Minister Yogi Adityanath and around 20 other people, all of whom will practise a number of yoga asanas on saffron-coloured yoga mats on the dais.
The around 52,000 other participants, who will be ferried by around 1,000 buses, who will join in the celebrations at the Rama Bai Ambedkar ground near the Lucknow airport, will be given mats coloured green and fluorescent orange. The event will begin at 6.30 am, with various yoga committees and the media being told to assemble and take their places by 3.30 am on Wednesday.
Meanwhile, tight security has been put in place at the Rama Bai Ambedkar ground, which is located beside a highway near the Lukcnow airport. Four rings of security have been deployed around the ground and the senior superintendent of police and the district magistrate are monitoring arrangements 24x7.
Metal scanner and detectors have been installed while dog squads are making the rounds of the ground. The Special Protection Group, responsible for the prime minister's safety, has carried out multiple rounds of checks and passes to the International Yoga Day event have been issued only after background security checks.
Meanwhile, based on intelligence inputs, 27 student leaders from the Samajwadi Party and the All India Students' Association have been identified as probable protestors. Police teams carried out three raids in Lucknow, at Mahanagar, Hasanganj and Ashiyana, to place potential troublemakers under preventive detention.
Traffic cop stops President Pranab Mukherjee's convoy in Bengaluru, rewarded
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A traffic cop deployed at Bengaluru's Trinity Circle did something that others of his department would think twice before attempting. The traffic police officer was rewarded for his act later.
Traffic police sub-inspector M L Nijalingappa's quick thinking and swift action was praised and rewarded by the city police as he saved a critical patient's life.
HERE'S WHAT HAPPENED
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President Pranab Mukherjee was in Bengaluru on Saturday for the inauguration of Namma Metro's Green Line.
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Nijalingappa, who is attached to Ulsoor Traffic police station, was deployed at Trinity Circle on the special duty for VVIP convoy movement.
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As President Pranab's convoy was moving towards Raj Bhavan, he spotted an ambulance desperately trying find a way in the heavy traffic to a hospital nearby.
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The traffic cop immediately swung into action and contacted his seniors over wireless.
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Nijalingappa asked for permission to stop traffic and allow the ambulance a safe and hindrance-free passage.
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Deputy Commissioner of Police -Traffic East Division, Bengaluru City Abhei Goyal later took to Twitter to praise the officer's presence of mind.
A traffic cop deployed at Bengaluru's Trinity Circle did something that others of his department would think twice before attempting. The traffic police officer was rewarded for his act later.
Traffic police sub-inspector M L Nijalingappa's quick thinking and swift action was praised and rewarded by the city police as he saved a critical patient's life.
HERE'S WHAT HAPPENED
- President Pranab Mukherjee was in Bengaluru on Saturday for the inauguration of Namma Metro's Green Line.
- Nijalingappa, who is attached to Ulsoor Traffic police station, was deployed at Trinity Circle on the special duty for VVIP convoy movement.
- As President Pranab's convoy was moving towards Raj Bhavan, he spotted an ambulance desperately trying find a way in the heavy traffic to a hospital nearby.
- The traffic cop immediately swung into action and contacted his seniors over wireless.
- Nijalingappa asked for permission to stop traffic and allow the ambulance a safe and hindrance-free passage.
- Deputy Commissioner of Police -Traffic East Division, Bengaluru City Abhei Goyal later took to Twitter to praise the officer's presence of mind.
Business Affairs
India raises rice, cotton buying prices as farmers' protests mount
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India raised minimum purchase prices for rice, cotton and other crops by the most since Prime Minister Narendra Modi came to power in 2014, according a government circular seen by Reuters, amid ongoing protests in the country's biggest farming states.
Prices paid to local farmers for common grade paddy rice are to be raised by 5.4 percent to 1,550 rupees ($24.03) per 100 kg for the year starting on July 1, while long staple cotton prices have been hiked by 3.8 percent to 4,320 rupees per 100 kg.
The increases for rice, cotton and other crops follow an outburst of discontent in the heartland states of Madhya Pradesh and neighbouring Maharashtra as farmers sought higher prices and debt relief.
Five protesting farmers were shot dead this month in the central state of Madhya Pradesh, which along with Maharashtra is ruled by Modi's Bharatiya Janata Party (BJP).
The unrest has posed a challenge to regional BJP leaders and Modi, who have promised to double farmers' incomes over the next five years.
India is the world's biggest rice exporter and buys the grain from local farmers to protect them from distressed sales and to build stocks for welfare programmes.
The government fixes minimum prices for more than two dozen farm commodities, although it mainly procures wheat and rice.
Growers of other crops like onions, tomatoes and potatoes are also protesting due to steep falls in the prices of their produce and the absence of the government buying.
The government has also raised soybean prices by 9.9 percent to 3,050 rupees per 100 kg, and corn by 7.1 percent to 1,425 rupees per 100 kg, effective from July 1. The increases for these two grains were also the greatest since 2012/13.
India raised minimum purchase prices for rice, cotton and other crops by the most since Prime Minister Narendra Modi came to power in 2014, according a government circular seen by Reuters, amid ongoing protests in the country's biggest farming states.
Prices paid to local farmers for common grade paddy rice are to be raised by 5.4 percent to 1,550 rupees ($24.03) per 100 kg for the year starting on July 1, while long staple cotton prices have been hiked by 3.8 percent to 4,320 rupees per 100 kg.
The increases for rice, cotton and other crops follow an outburst of discontent in the heartland states of Madhya Pradesh and neighbouring Maharashtra as farmers sought higher prices and debt relief.
Five protesting farmers were shot dead this month in the central state of Madhya Pradesh, which along with Maharashtra is ruled by Modi's Bharatiya Janata Party (BJP).
The unrest has posed a challenge to regional BJP leaders and Modi, who have promised to double farmers' incomes over the next five years.
India is the world's biggest rice exporter and buys the grain from local farmers to protect them from distressed sales and to build stocks for welfare programmes.
The government fixes minimum prices for more than two dozen farm commodities, although it mainly procures wheat and rice.
Growers of other crops like onions, tomatoes and potatoes are also protesting due to steep falls in the prices of their produce and the absence of the government buying.
The government has also raised soybean prices by 9.9 percent to 3,050 rupees per 100 kg, and corn by 7.1 percent to 1,425 rupees per 100 kg, effective from July 1. The increases for these two grains were also the greatest since 2012/13.
Niti Aayog to speed up trains with Rs 18,000 crore plan
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The ambitious Rs 18,000 crore project for increasing train speeds on the Delhi-Mumbai and Delhi-Howrah rail corridors has got the Niti Aayog's approval, paving the way for being put up for Cabinet clearance.
The mega project is meant to bring about a paradigm shift in rail operations enabling trains to run at 160 km per hour on the busiest routes on the Indian railway network.
Aiming at reducing travel time between the three metropolises, the project envisages fencing off the entire 3,000 kms on both routes, upgradation of signalling system, elimination of all level crossings and installing train protection warning system (TPWS), among other works to make trains run at an increased speed of 160 kmh.
"Any project more than Rs 1,000 crore in worth will have to get the Niti Aayog clearance. So now after getting the Niti Aayog clearance yesterday, the proposal will now be examined by the expanded railway board," said a senior railway ministry official involved with the project.
The expanded railway board is comprised of senior representatives from department of expenditure, department of programme implementation and Niti Aayog, besides the board members.
The Railways will submit the proposal for cabinet clearance after getting the proposal approved by the expanded railway board.
The 1,483-km long New Delhi-Mumbai rail route will also include the Baroda-Ahmedabad sector, and is estimated to cost Rs 11,189 crore.
The 1,525-km long New Delhi-Howrah route, which also includes the Kanpur-Lucknow section, is estimated to cost Rs 6,974 crore.
The work on both sections will be given to a single agency through global bidding for effective implementation of the project.
The ambitious Rs 18,000 crore project for increasing train speeds on the Delhi-Mumbai and Delhi-Howrah rail corridors has got the Niti Aayog's approval, paving the way for being put up for Cabinet clearance.
The mega project is meant to bring about a paradigm shift in rail operations enabling trains to run at 160 km per hour on the busiest routes on the Indian railway network.
Aiming at reducing travel time between the three metropolises, the project envisages fencing off the entire 3,000 kms on both routes, upgradation of signalling system, elimination of all level crossings and installing train protection warning system (TPWS), among other works to make trains run at an increased speed of 160 kmh.
"Any project more than Rs 1,000 crore in worth will have to get the Niti Aayog clearance. So now after getting the Niti Aayog clearance yesterday, the proposal will now be examined by the expanded railway board," said a senior railway ministry official involved with the project.
The expanded railway board is comprised of senior representatives from department of expenditure, department of programme implementation and Niti Aayog, besides the board members.
The Railways will submit the proposal for cabinet clearance after getting the proposal approved by the expanded railway board.
The 1,483-km long New Delhi-Mumbai rail route will also include the Baroda-Ahmedabad sector, and is estimated to cost Rs 11,189 crore.
The 1,525-km long New Delhi-Howrah route, which also includes the Kanpur-Lucknow section, is estimated to cost Rs 6,974 crore.
The work on both sections will be given to a single agency through global bidding for effective implementation of the project.
GTPL Hathway IPO to open tomorrow, eyes Rs 480 crore for retiring debt, improving network infrastructure
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GTPL Hathway, a 50:50 joint venture between cable TV operator GTPL and Hathway Limited, plans to raise Rs 480 crore via an initial public offer (IPO) for retiring debt and improving network infrastructure.
The IPO, which opens on Wednesday, has a price band between Rs 167 and Rs 170 per equity share.
The cable TV distribution company has presence in over 169 cities across 10 states in India. It has presence in Maharashtra, Gujarat, Rajasthan, West Bengal, Jharkhand, Bihar, Madhya Pradesh, Andhra Pradesh, Telangana and Assam.
The firm is the largest multi system operator in Gujarat with a market share of 67 percent of cable TV subscribers in 2015.
The company offers cable television signals in both digital and analog modes of re-transmission to subscribers, either directly or through affiliated Local Cable Operators (LCOs).
Managing Director of GTPL Hathway A Jadeja said 1.4 crore equity shares would be offloaded as 'Offer for Sale' to raise Rs 240 crore and another Rs 240 crore by way of offering fresh equity.
He said that the money raised from 'Offer for Sale' would be utilised for repaying debt, adding the balance Rs 240 crore would be utilised for improving the network infrastructure.
Jadeja said the company enjoyed the highest market share in cable TV connections in Gujarat and was also a major player in Kolkata and Howrah markets.
GTPL Hathway, a 50:50 joint venture between cable TV operator GTPL and Hathway Limited, plans to raise Rs 480 crore via an initial public offer (IPO) for retiring debt and improving network infrastructure.
The IPO, which opens on Wednesday, has a price band between Rs 167 and Rs 170 per equity share.
The cable TV distribution company has presence in over 169 cities across 10 states in India. It has presence in Maharashtra, Gujarat, Rajasthan, West Bengal, Jharkhand, Bihar, Madhya Pradesh, Andhra Pradesh, Telangana and Assam.
The firm is the largest multi system operator in Gujarat with a market share of 67 percent of cable TV subscribers in 2015.
The company offers cable television signals in both digital and analog modes of re-transmission to subscribers, either directly or through affiliated Local Cable Operators (LCOs).
Managing Director of GTPL Hathway A Jadeja said 1.4 crore equity shares would be offloaded as 'Offer for Sale' to raise Rs 240 crore and another Rs 240 crore by way of offering fresh equity.
He said that the money raised from 'Offer for Sale' would be utilised for repaying debt, adding the balance Rs 240 crore would be utilised for improving the network infrastructure.
Jadeja said the company enjoyed the highest market share in cable TV connections in Gujarat and was also a major player in Kolkata and Howrah markets.
Sensex adds to gains, up 81 pts on overseas cues
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The Sensex started to capitalise on earlier gains by jumping 81 points to 31,393 on Tuesday as rising Asian shares kept the pitch conducive to buy more.
An upbeat assessment of the US economy by a top Federal Reserve official took Wall Street to a record close, which had a rub-off on Asia.
The 30-share BSE index rose 80.96 points, or 0.25 per cent to 31,392.53. It had gained 255.17 points in the previous session.
Also, the 50-share NSE Nifty moved to 9,674.80, up 17.25 points, or 0.17 per cent.
All sectoral indices saw buying interest, led by IT, technology, capital goods and auto stocks.
Prominent gainers were Tata Motors, Infosys, PowerGrid, Tata Steel, Reliance Industries and ONGC, rising by up to 1.45 per cent.
Japan's Nikkei was up 1.10 per cent while Hong Kong's Hang Seng index rose 0.40 per cent in morning trade. Shanghai composite inched up 0.04 per cent.
The US Dow Jones Industrial Average ended 0.68 per cent higher yesterday.
The Sensex started to capitalise on earlier gains by jumping 81 points to 31,393 on Tuesday as rising Asian shares kept the pitch conducive to buy more.
An upbeat assessment of the US economy by a top Federal Reserve official took Wall Street to a record close, which had a rub-off on Asia.
The 30-share BSE index rose 80.96 points, or 0.25 per cent to 31,392.53. It had gained 255.17 points in the previous session.
Also, the 50-share NSE Nifty moved to 9,674.80, up 17.25 points, or 0.17 per cent.
All sectoral indices saw buying interest, led by IT, technology, capital goods and auto stocks.
Prominent gainers were Tata Motors, Infosys, PowerGrid, Tata Steel, Reliance Industries and ONGC, rising by up to 1.45 per cent.
Japan's Nikkei was up 1.10 per cent while Hong Kong's Hang Seng index rose 0.40 per cent in morning trade. Shanghai composite inched up 0.04 per cent.
The US Dow Jones Industrial Average ended 0.68 per cent higher yesterday.
Paytm may seek license to start mutual fund
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E-wallet firm, Paytm is likely to disrupt the market as the firm is reportedly seeking license to set up a money-market mutual fund (an open-ended mutual fund) that invests in treasury bills and commercial papers for a short term.
According to a report in Bloomberg, the latest move of the Alibaba backed firm would increase its offering to its customers, who can park their surplus cash and earn interest. Earlier in the year, it started digital trading in gold.
Paytm has received payment banks licence from the Reserve Bank of India (RBI) in 2015.
Earlier, last month, Paytm launched niche payments bank, offering 4 per cent interest rate and cashbacks on deposits as it looks to double its customer base to 50 crore by 2020.
Paytm, which saw a phenomenal rise after Prime Minister Narendra Modi's shock ban of high-value currency notes in November last year resulted in cash crunch and boosted use of its electronic wallet, will invest Rs 400 crore to build its banking network over two years.
It will open 31 branches and 3,000 customer points in the first year.
Paytm is third firm after Bharti Airtel and India Posts to have launched payments banks.
As many as 11 companies including Reliance Industries and Indias top three telecom operators were in 2015 permitted by the Reserve Bank of India (RBI) to set up payments banks which can take deposits and remittances but cannot lend.
According to a report in Bloomberg, the latest move of the Alibaba backed firm would increase its offering to its customers, who can park their surplus cash and earn interest. Earlier in the year, it started digital trading in gold.
Paytm has received payment banks licence from the Reserve Bank of India (RBI) in 2015.
Earlier, last month, Paytm launched niche payments bank, offering 4 per cent interest rate and cashbacks on deposits as it looks to double its customer base to 50 crore by 2020.
Paytm, which saw a phenomenal rise after Prime Minister Narendra Modi's shock ban of high-value currency notes in November last year resulted in cash crunch and boosted use of its electronic wallet, will invest Rs 400 crore to build its banking network over two years.
It will open 31 branches and 3,000 customer points in the first year.
Paytm is third firm after Bharti Airtel and India Posts to have launched payments banks.
As many as 11 companies including Reliance Industries and Indias top three telecom operators were in 2015 permitted by the Reserve Bank of India (RBI) to set up payments banks which can take deposits and remittances but cannot lend.
General Awareness
BANKING AWARENESS PRACTICE MCQs FOR ALL BANK EXAMS
-
1. As per the Code of Bank's Commitment to Customers a bank must close/transfer an account maximum within a period of ____ days from the date of receipt of application.
a) 3 Days
b) 5 days
c) 7 days
d) At the earliest possible
e) No such restriction
2. Which risk is eliminated in case of the RTGS transaction?
a) Credit risk
b) Operational risk
c) Settlement risk
d) Systematic risk
e) c and d
3. What is the maximum period of deposit that can be opened under FCNR?
a) 1 year
b) 3 years
c) 5 years
d) 10 years
e) All the above
4. As per Pradhan Mantri Suraksha Bima Yojana (PMSBY) Scheme, if the customer has taken a cover under multiple bank accounts then the amount of premium under this will be ______.
a) Forfeited
b) Renewed
c) Double
d) Same
5. The Jan Dhan Yojana aims directly in promoting:
a) Social Justice
b) Financial Inclusion
c) Rural Development
d) Digital Empowerment
e) Urban Development
6. The premium of 10 paisa for every Rs.100 payable on behalf of the depositor under Deposit Insurance and Credit Guarantee Corporation(DICGC) will be borne by:
a) Bank
b) Life Insurance Corporation of India
c) General Insurance Corporation of India
d) Customer
e) Bank and Customer equally
7. Who was the first woman Deputy Governor of the Reserve Bank of India?
a) Shyamala Gopinath
b) Usha Thorat
c) Arundhati Bhattacharya
d) K.J.Udeshi
e) Usha Ananta Subramanian
8. Which bank has received $100 million (about Rs.645 crore) as the first tranche of ADB's multimillion dollar funding for installation of rooftop solar systems in India?
a) United Bank of India
b) Punjab National Bank
c) Bank of Baroda
d) Canara Bank
e) Corporation Bank
9. The maximum amount that can be deposited in a 'Sukanya Samriddhi Scheme' account in a
financial year is:
a) Rs. 1,00,000
b) Rs.1,50,000
c) Rs. 1,35,000
d) Rs.1,75,000
e) Rs. 1,25,000
10. Under Pradhan Mantri Jeevan Jyoti Yojana (PMJJBY) scheme, an individual is eligible to join the
scheme at the age between 18 years to____.
a) 30 years
b) 40 years
c) 50 years
d) 60 years
11. Which of the following is/are correct regarding Introduction of Additional Settlement Batches
for National Electronic Funds Transfer (NEFT)?
a) The NEFT settlement cycle will be reduced from hourly batches to half hourly batches
b) 11 additional settlement batches will be introduced
c) The total number of half hourly settlement batches during the day will be increased to 23
d) The starting batch at 8.00 am and closing batch at 7.00 pm shall remain the same.
e) All the above
12. In the case of deposit held by joint Individuals, the nomination can be made in favour of:
a) A single individual
b) More than one person in case deposit is payable jointly
c) More than one person in case deposit is payable to either or survivor(s)
d) Separate persons by each depositor
e) None of these
13. What is CDD as per KYC?
a) Customer Duly Diligence
b) Customer Due Delivery
c) Current Deposit delivery
d) Customer due Diligence
e) None of the above
14. STR in the context of Prevention of Money Laundering Act 2002 stands for?
a) Select Transaction Report
b) Suspicious Transaction Report
c) Suspected Transfer Report
d) Suspected Transaction Record
e) None of the above
15. What is the risk classification for "Salaried employees"?
a) Low risk account
b) Medium risk account
c) High risk account
d) All the above
e) None of the above
16. "Clean note policy" of RBI reiterates the Banks to follow which of the following measures?
a) To sort notes into issuable & non-issuable
b) Not to staples notes & to loose pack notes
c) Not to issue soiled & cut notes to general public
d) Not to scribble on the currency notes
e) All the above
17. As per Basel norms Capital is linked to_____:
a) Size of Deposits
b) Risk Weightage of Assets
c) Profitability of the bank
d) Macro economic conditions
e) None of the above
18. Atal Pension Yojana (APY) offers fixed amount of pension ranging between Rs.1,000 to ____
depending upon the contribution which will be based on the age of joining the APY:
a) Rs.2000
b) Rs.3000
c) Rs.4000
d) Rs.5000
e) Rs.10,000
19. As per recent announcement made by Prime Minister on 31st December, 2016,______Kisan credit cards will be converted into RuPay cards in coming 3 months. Government will bear _____ interest on select farm loans.
a) Rs.2 crores; 30 days
b) Rs.2.5 crores; 45 days
c) Rs.3 crores; 60 days
d) Rs.3 crores; 90 days
e) None of the above
20. ______will be the third and final financing stage for MUDRA Bank and maximum loan up to_______can be provided under this stage.
a) Tarun, Rs.8 lakh
b) Tarun, Rs.10 lakh
c) Vyaska, Rs.12 lakh
d) Kishore, Rs.15 lakh
e) Sishu, Rs.4 lakh
21. Which of the following schemes have been launched under Pradhan Mantri Awas Yojana?
a) AMRUT
b) Smart Cities Mission
c) Housing for All
d) All of these
e) Only a & b
22. When the award of the banking ombudsman is not acceptable to customer, he can appeal the matter to the appellate authority. The fee payable to Appellate Authority is:
a) Rs.5,000
b) Rs.6,000
c) 25% of the amount in dispute
d) 50% of the amount in dispute
e) Nil
23. In cheque Truncation system clearing the Image Replace Document (IRD) means:
a) Cheque itself
b) Image of the image
c) An authenticated copy of the cheque
d) Truncated cheque
e) None of the above
24. Nominee has predeceased the A/c holder. Payment shall be made to:
a) Against joint discharge to Legal heirs of the depositor and the legal heirs of nominee.
b) Legal heirs of the nominee
c) Legal heirs of the depositor
d) Payment through Court order or Succession Certificate
e) None of the above
25. Under Sukanya Samridhi Account (SSA) the maximum period upto which the deposits can be made is for___ years from the date of opening of the account?
a) 12 years
b) 14 years
c) 16 years
d) 18 years
e) 21 years
26. The maximum punishment by way of imprisonment for the offence committed under Money Laundering Act is:
a) 7 years
b) 9 years
c) 10 years
d) 12 years
e) None of the above
27. Branches should adopt a system of periodical updation of customer identification data (including
photograph/s) after the account is opened. The periodicity of such updation for High Risk, Medium
Risk and Low Risk category customers are:
a) Two/eight/ten years
b) Two/five/ten years
c) Two/two/five years
d) Ten/eight/two years
e) No such updation is required
28. What are the three pillars of Basel-II?
a) Minimum Capital Requirement, Supervisory Review & Market Discipline
b) Minimum Capital Fund, Asset quality & Financial Supervision
c) Minimum capital adequacy, Asset quality & Risk Management
d) Prudential accounting, greater transparency & Accountability
e) Moderate Capital Adequacy, Risk Management and Market Supervision
29. Establishment of Lok Adalat is governed by which of the following Acts?
a) SARFAESI act 2002
b) Legal services authority act 1987
c) Lok Adalat Act 1985
d) Recovery of debt due to Banks and financial Institutions
e) Indian Contract Act
30. Which bank is planning to raise Rs.9,000 crore through various instruments including Follow-on Public Officer (FPO) of Rs.6,000 crore?
a) Bank of Baroda
b) Bank of India
c) State Bank of India
d) Syndicate Bank
e) Union Bank of India
31. Which of the following documents are required for registration of a Jeevan Pramaan?
a) Aadhar number
b) PPO number
c) Bank Account number
d) All of the above
e) Only a & b
32. The electronic mechanism used by banks for transmitting financial messages across the borders:
a) Telex
b) DOTNET
c) RTGS
d) SWIFT
e) INFINET
33. Pradhan Mantri Kaushal Vikas Yojana (PMKVY) was approved with an outlay of_____.
a) Rs.500 crore
b) 1000 crore
c) Rs.12,000 crore
d) Rs.1,500 crore
e) Rs.2000 crore
34. Bank is required to issue TDS certificate on form______within _____month in which deduction is made:
a) 15-G; one;
b) 15-H; one;
c) 16- A; two;
d) 16- A; one;
e) Form 60; one;
ANSWERS:
1) a 2) c 3) c 4) a 5) b 6) a 7) d 8) b 9) b 10) c
11) e 12) a 13) d 14) b 15) a 16) e 17) b 18) d 19) c 20) b
21) d 22) e 23) c 24) c 25) b 26) a 27) a 28) a 29) b 30) a
31) d 32) d 33) c 34) d
1. As per the Code of Bank's Commitment to Customers a bank must close/transfer an account maximum within a period of ____ days from the date of receipt of application.
a) 3 Days
b) 5 days
c) 7 days
d) At the earliest possible
e) No such restriction
2. Which risk is eliminated in case of the RTGS transaction?
a) Credit risk
b) Operational risk
c) Settlement risk
d) Systematic risk
e) c and d
3. What is the maximum period of deposit that can be opened under FCNR?
a) 1 year
b) 3 years
c) 5 years
d) 10 years
e) All the above
4. As per Pradhan Mantri Suraksha Bima Yojana (PMSBY) Scheme, if the customer has taken a cover under multiple bank accounts then the amount of premium under this will be ______.
a) Forfeited
b) Renewed
c) Double
d) Same
5. The Jan Dhan Yojana aims directly in promoting:
a) Social Justice
b) Financial Inclusion
c) Rural Development
d) Digital Empowerment
e) Urban Development
6. The premium of 10 paisa for every Rs.100 payable on behalf of the depositor under Deposit Insurance and Credit Guarantee Corporation(DICGC) will be borne by:
a) Bank
b) Life Insurance Corporation of India
c) General Insurance Corporation of India
d) Customer
e) Bank and Customer equally
7. Who was the first woman Deputy Governor of the Reserve Bank of India?
a) Shyamala Gopinath
b) Usha Thorat
c) Arundhati Bhattacharya
d) K.J.Udeshi
e) Usha Ananta Subramanian
8. Which bank has received $100 million (about Rs.645 crore) as the first tranche of ADB's multimillion dollar funding for installation of rooftop solar systems in India?
a) United Bank of India
b) Punjab National Bank
c) Bank of Baroda
d) Canara Bank
e) Corporation Bank
9. The maximum amount that can be deposited in a 'Sukanya Samriddhi Scheme' account in a
financial year is:
a) Rs. 1,00,000
b) Rs.1,50,000
c) Rs. 1,35,000
d) Rs.1,75,000
e) Rs. 1,25,000
10. Under Pradhan Mantri Jeevan Jyoti Yojana (PMJJBY) scheme, an individual is eligible to join the
scheme at the age between 18 years to____.
a) 30 years
b) 40 years
c) 50 years
d) 60 years
11. Which of the following is/are correct regarding Introduction of Additional Settlement Batches
for National Electronic Funds Transfer (NEFT)?
a) The NEFT settlement cycle will be reduced from hourly batches to half hourly batches
b) 11 additional settlement batches will be introduced
c) The total number of half hourly settlement batches during the day will be increased to 23
d) The starting batch at 8.00 am and closing batch at 7.00 pm shall remain the same.
e) All the above
12. In the case of deposit held by joint Individuals, the nomination can be made in favour of:
a) A single individual
b) More than one person in case deposit is payable jointly
c) More than one person in case deposit is payable to either or survivor(s)
d) Separate persons by each depositor
e) None of these
13. What is CDD as per KYC?
a) Customer Duly Diligence
b) Customer Due Delivery
c) Current Deposit delivery
d) Customer due Diligence
e) None of the above
14. STR in the context of Prevention of Money Laundering Act 2002 stands for?
a) Select Transaction Report
b) Suspicious Transaction Report
c) Suspected Transfer Report
d) Suspected Transaction Record
e) None of the above
15. What is the risk classification for "Salaried employees"?
a) Low risk account
b) Medium risk account
c) High risk account
d) All the above
e) None of the above
16. "Clean note policy" of RBI reiterates the Banks to follow which of the following measures?
a) To sort notes into issuable & non-issuable
b) Not to staples notes & to loose pack notes
c) Not to issue soiled & cut notes to general public
d) Not to scribble on the currency notes
e) All the above
17. As per Basel norms Capital is linked to_____:
a) Size of Deposits
b) Risk Weightage of Assets
c) Profitability of the bank
d) Macro economic conditions
e) None of the above
18. Atal Pension Yojana (APY) offers fixed amount of pension ranging between Rs.1,000 to ____
depending upon the contribution which will be based on the age of joining the APY:
a) Rs.2000
b) Rs.3000
c) Rs.4000
d) Rs.5000
e) Rs.10,000
19. As per recent announcement made by Prime Minister on 31st December, 2016,______Kisan credit cards will be converted into RuPay cards in coming 3 months. Government will bear _____ interest on select farm loans.
a) Rs.2 crores; 30 days
b) Rs.2.5 crores; 45 days
c) Rs.3 crores; 60 days
d) Rs.3 crores; 90 days
e) None of the above
20. ______will be the third and final financing stage for MUDRA Bank and maximum loan up to_______can be provided under this stage.
a) Tarun, Rs.8 lakh
b) Tarun, Rs.10 lakh
c) Vyaska, Rs.12 lakh
d) Kishore, Rs.15 lakh
e) Sishu, Rs.4 lakh
21. Which of the following schemes have been launched under Pradhan Mantri Awas Yojana?
a) AMRUT
b) Smart Cities Mission
c) Housing for All
d) All of these
e) Only a & b
22. When the award of the banking ombudsman is not acceptable to customer, he can appeal the matter to the appellate authority. The fee payable to Appellate Authority is:
a) Rs.5,000
b) Rs.6,000
c) 25% of the amount in dispute
d) 50% of the amount in dispute
e) Nil
23. In cheque Truncation system clearing the Image Replace Document (IRD) means:
a) Cheque itself
b) Image of the image
c) An authenticated copy of the cheque
d) Truncated cheque
e) None of the above
24. Nominee has predeceased the A/c holder. Payment shall be made to:
a) Against joint discharge to Legal heirs of the depositor and the legal heirs of nominee.
b) Legal heirs of the nominee
c) Legal heirs of the depositor
d) Payment through Court order or Succession Certificate
e) None of the above
25. Under Sukanya Samridhi Account (SSA) the maximum period upto which the deposits can be made is for___ years from the date of opening of the account?
a) 12 years
b) 14 years
c) 16 years
d) 18 years
e) 21 years
26. The maximum punishment by way of imprisonment for the offence committed under Money Laundering Act is:
a) 7 years
b) 9 years
c) 10 years
d) 12 years
e) None of the above
27. Branches should adopt a system of periodical updation of customer identification data (including
photograph/s) after the account is opened. The periodicity of such updation for High Risk, Medium
Risk and Low Risk category customers are:
a) Two/eight/ten years
b) Two/five/ten years
c) Two/two/five years
d) Ten/eight/two years
e) No such updation is required
28. What are the three pillars of Basel-II?
a) Minimum Capital Requirement, Supervisory Review & Market Discipline
b) Minimum Capital Fund, Asset quality & Financial Supervision
c) Minimum capital adequacy, Asset quality & Risk Management
d) Prudential accounting, greater transparency & Accountability
e) Moderate Capital Adequacy, Risk Management and Market Supervision
29. Establishment of Lok Adalat is governed by which of the following Acts?
a) SARFAESI act 2002
b) Legal services authority act 1987
c) Lok Adalat Act 1985
d) Recovery of debt due to Banks and financial Institutions
e) Indian Contract Act
30. Which bank is planning to raise Rs.9,000 crore through various instruments including Follow-on Public Officer (FPO) of Rs.6,000 crore?
a) Bank of Baroda
b) Bank of India
c) State Bank of India
d) Syndicate Bank
e) Union Bank of India
31. Which of the following documents are required for registration of a Jeevan Pramaan?
a) Aadhar number
b) PPO number
c) Bank Account number
d) All of the above
e) Only a & b
32. The electronic mechanism used by banks for transmitting financial messages across the borders:
a) Telex
b) DOTNET
c) RTGS
d) SWIFT
e) INFINET
33. Pradhan Mantri Kaushal Vikas Yojana (PMKVY) was approved with an outlay of_____.
a) Rs.500 crore
b) 1000 crore
c) Rs.12,000 crore
d) Rs.1,500 crore
e) Rs.2000 crore
34. Bank is required to issue TDS certificate on form______within _____month in which deduction is made:
a) 15-G; one;
b) 15-H; one;
c) 16- A; two;
d) 16- A; one;
e) Form 60; one;
ANSWERS:
1) a 2) c 3) c 4) a 5) b 6) a 7) d 8) b 9) b 10) c
11) e 12) a 13) d 14) b 15) a 16) e 17) b 18) d 19) c 20) b
21) d 22) e 23) c 24) c 25) b 26) a 27) a 28) a 29) b 30) a
31) d 32) d 33) c 34) d
a) 3 Days
b) 5 days
c) 7 days
d) At the earliest possible
e) No such restriction
2. Which risk is eliminated in case of the RTGS transaction?
a) Credit risk
b) Operational risk
c) Settlement risk
d) Systematic risk
e) c and d
3. What is the maximum period of deposit that can be opened under FCNR?
a) 1 year
b) 3 years
c) 5 years
d) 10 years
e) All the above
4. As per Pradhan Mantri Suraksha Bima Yojana (PMSBY) Scheme, if the customer has taken a cover under multiple bank accounts then the amount of premium under this will be ______.
a) Forfeited
b) Renewed
c) Double
d) Same
5. The Jan Dhan Yojana aims directly in promoting:
a) Social Justice
b) Financial Inclusion
c) Rural Development
d) Digital Empowerment
e) Urban Development
6. The premium of 10 paisa for every Rs.100 payable on behalf of the depositor under Deposit Insurance and Credit Guarantee Corporation(DICGC) will be borne by:
a) Bank
b) Life Insurance Corporation of India
c) General Insurance Corporation of India
d) Customer
e) Bank and Customer equally
7. Who was the first woman Deputy Governor of the Reserve Bank of India?
a) Shyamala Gopinath
b) Usha Thorat
c) Arundhati Bhattacharya
d) K.J.Udeshi
e) Usha Ananta Subramanian
8. Which bank has received $100 million (about Rs.645 crore) as the first tranche of ADB's multimillion dollar funding for installation of rooftop solar systems in India?
a) United Bank of India
b) Punjab National Bank
c) Bank of Baroda
d) Canara Bank
e) Corporation Bank
9. The maximum amount that can be deposited in a 'Sukanya Samriddhi Scheme' account in a
financial year is:
a) Rs. 1,00,000
b) Rs.1,50,000
c) Rs. 1,35,000
d) Rs.1,75,000
e) Rs. 1,25,000
10. Under Pradhan Mantri Jeevan Jyoti Yojana (PMJJBY) scheme, an individual is eligible to join the
scheme at the age between 18 years to____.
a) 30 years
b) 40 years
c) 50 years
d) 60 years
11. Which of the following is/are correct regarding Introduction of Additional Settlement Batches
for National Electronic Funds Transfer (NEFT)?
a) The NEFT settlement cycle will be reduced from hourly batches to half hourly batches
b) 11 additional settlement batches will be introduced
c) The total number of half hourly settlement batches during the day will be increased to 23
d) The starting batch at 8.00 am and closing batch at 7.00 pm shall remain the same.
e) All the above
12. In the case of deposit held by joint Individuals, the nomination can be made in favour of:
a) A single individual
b) More than one person in case deposit is payable jointly
c) More than one person in case deposit is payable to either or survivor(s)
d) Separate persons by each depositor
e) None of these
13. What is CDD as per KYC?
a) Customer Duly Diligence
b) Customer Due Delivery
c) Current Deposit delivery
d) Customer due Diligence
e) None of the above
14. STR in the context of Prevention of Money Laundering Act 2002 stands for?
a) Select Transaction Report
b) Suspicious Transaction Report
c) Suspected Transfer Report
d) Suspected Transaction Record
e) None of the above
15. What is the risk classification for "Salaried employees"?
a) Low risk account
b) Medium risk account
c) High risk account
d) All the above
e) None of the above
16. "Clean note policy" of RBI reiterates the Banks to follow which of the following measures?
a) To sort notes into issuable & non-issuable
b) Not to staples notes & to loose pack notes
c) Not to issue soiled & cut notes to general public
d) Not to scribble on the currency notes
e) All the above
17. As per Basel norms Capital is linked to_____:
a) Size of Deposits
b) Risk Weightage of Assets
c) Profitability of the bank
d) Macro economic conditions
e) None of the above
18. Atal Pension Yojana (APY) offers fixed amount of pension ranging between Rs.1,000 to ____
depending upon the contribution which will be based on the age of joining the APY:
a) Rs.2000
b) Rs.3000
c) Rs.4000
d) Rs.5000
e) Rs.10,000
19. As per recent announcement made by Prime Minister on 31st December, 2016,______Kisan credit cards will be converted into RuPay cards in coming 3 months. Government will bear _____ interest on select farm loans.
a) Rs.2 crores; 30 days
b) Rs.2.5 crores; 45 days
c) Rs.3 crores; 60 days
d) Rs.3 crores; 90 days
e) None of the above
20. ______will be the third and final financing stage for MUDRA Bank and maximum loan up to_______can be provided under this stage.
a) Tarun, Rs.8 lakh
b) Tarun, Rs.10 lakh
c) Vyaska, Rs.12 lakh
d) Kishore, Rs.15 lakh
e) Sishu, Rs.4 lakh
21. Which of the following schemes have been launched under Pradhan Mantri Awas Yojana?
a) AMRUT
b) Smart Cities Mission
c) Housing for All
d) All of these
e) Only a & b
22. When the award of the banking ombudsman is not acceptable to customer, he can appeal the matter to the appellate authority. The fee payable to Appellate Authority is:
a) Rs.5,000
b) Rs.6,000
c) 25% of the amount in dispute
d) 50% of the amount in dispute
e) Nil
23. In cheque Truncation system clearing the Image Replace Document (IRD) means:
a) Cheque itself
b) Image of the image
c) An authenticated copy of the cheque
d) Truncated cheque
e) None of the above
24. Nominee has predeceased the A/c holder. Payment shall be made to:
a) Against joint discharge to Legal heirs of the depositor and the legal heirs of nominee.
b) Legal heirs of the nominee
c) Legal heirs of the depositor
d) Payment through Court order or Succession Certificate
e) None of the above
25. Under Sukanya Samridhi Account (SSA) the maximum period upto which the deposits can be made is for___ years from the date of opening of the account?
a) 12 years
b) 14 years
c) 16 years
d) 18 years
e) 21 years
26. The maximum punishment by way of imprisonment for the offence committed under Money Laundering Act is:
a) 7 years
b) 9 years
c) 10 years
d) 12 years
e) None of the above
27. Branches should adopt a system of periodical updation of customer identification data (including
photograph/s) after the account is opened. The periodicity of such updation for High Risk, Medium
Risk and Low Risk category customers are:
a) Two/eight/ten years
b) Two/five/ten years
c) Two/two/five years
d) Ten/eight/two years
e) No such updation is required
28. What are the three pillars of Basel-II?
a) Minimum Capital Requirement, Supervisory Review & Market Discipline
b) Minimum Capital Fund, Asset quality & Financial Supervision
c) Minimum capital adequacy, Asset quality & Risk Management
d) Prudential accounting, greater transparency & Accountability
e) Moderate Capital Adequacy, Risk Management and Market Supervision
29. Establishment of Lok Adalat is governed by which of the following Acts?
a) SARFAESI act 2002
b) Legal services authority act 1987
c) Lok Adalat Act 1985
d) Recovery of debt due to Banks and financial Institutions
e) Indian Contract Act
30. Which bank is planning to raise Rs.9,000 crore through various instruments including Follow-on Public Officer (FPO) of Rs.6,000 crore?
a) Bank of Baroda
b) Bank of India
c) State Bank of India
d) Syndicate Bank
e) Union Bank of India
31. Which of the following documents are required for registration of a Jeevan Pramaan?
a) Aadhar number
b) PPO number
c) Bank Account number
d) All of the above
e) Only a & b
32. The electronic mechanism used by banks for transmitting financial messages across the borders:
a) Telex
b) DOTNET
c) RTGS
d) SWIFT
e) INFINET
33. Pradhan Mantri Kaushal Vikas Yojana (PMKVY) was approved with an outlay of_____.
a) Rs.500 crore
b) 1000 crore
c) Rs.12,000 crore
d) Rs.1,500 crore
e) Rs.2000 crore
34. Bank is required to issue TDS certificate on form______within _____month in which deduction is made:
a) 15-G; one;
b) 15-H; one;
c) 16- A; two;
d) 16- A; one;
e) Form 60; one;
ANSWERS:
1) a 2) c 3) c 4) a 5) b 6) a 7) d 8) b 9) b 10) c
11) e 12) a 13) d 14) b 15) a 16) e 17) b 18) d 19) c 20) b
21) d 22) e 23) c 24) c 25) b 26) a 27) a 28) a 29) b 30) a
31) d 32) d 33) c 34) d
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