Current Affairs Current Affairs - 20 July 2017 - Vikalp Education

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Current Affairs - 20 July 2017

General Affairs 

Kisan Mukti Sansad: Farmers vow to continue fight for debt waiver, implementation of Swaminathan report
  • The Kisan Mukti Sansad at Jantar Mantar in Delhi concluded on Wednesday with a resolve to continue the fight for debt waiver and implementation of Swaminathan Commission report. Farmers from Uttar Pradesh, Madhya Pradesh, Punjab, Haryana, Maharashtra and Tamil Nadu voiced anger over the promises unfulfilled by the States and Centre.
    Potato farmers from Uttar Pradesh also protested against the steeply falling price of potatoes. Aamir, leader of potato farmers from Uttar Pradesh said, "The government wants us to store our crop in cold storage, but the truth is that the price our crop fetches us is way less than the cost of keeping them in cold storage."
    Addressing the Kisan Mukti Sansad, Rani, wife of a farmer from Tamil Nadu who was humiliated to such an extent by bank officials that he was compelled to commit suicide, said, "The bank officials asked my husband how he was able to buy clothes for me if he was unable to repay his loans. Why is it always the poor who are humiliated, what about the rich that run away with crores of rupees?"
    Speaking at the Kisan Mukti Sansad, P Aiyyakannu, leader of farmers from Tamil Nadu, said, "While farmers of Tamil Nadu are dying because of drought like conditions, rather than fighting for their issues, the Tamil Nadu legislators are demanding a hike in their own salary."
    The children of famers who have committed suicide gathered again at Jantar Mantar today and narrated their ordeal. Describing their sufferings, Ashok Patil, one of the children, said, "A number of politicians have visited us in our ashram and made a lot of promises. But, all we get to see is a picture of the politician in the next day's newspapers." "Do they visit us to help us or to click selfies with us," he asked.
    Former Chief Minister of Madhya Pradesh, Digvijay Singh, who was also present at the Kisan Mukti Sansad, said that he agrees with both the demands of the farmers, that of remunerative crop prices and debt-free farming. "This is the time to rise above party politics and support the farmers in their fight for justice," Digvijay Singh said.
    Raju Shetty, farmers' leader and member of the Lok Sabha, today raised the issue of farmers in Lok Sabha. "I do not want to stay in the House when it does not have time to listen to the sufferings of farmers who comprise of a majority of the population of the country," Raju Shetty said.
    V M Singh, Convenor All India Kisan Sangharsh Coordination Committee, while announcing the way forward for Kisan Mukti Sansad said, "We are not going to stop here, we are going to get together the farmers from every part of the country." He also said that AIKSCC will take out four more Yatras in all parts of the country including states like Haryana, Punjab, Uttar Pradesh, Uttarakhand and Bihar, culminating in Delhi on 2nd October. And if the government fails to accept our demands by then, we will launch an indefinite countrywide agitation.
    Speaking at the Kisan Mukti Sansad, Swaraj India president Yogendra Yadav said, "This movement represents a tectonic shift in the history of farmers' movements as it has unified farmer leaders from across the country cutting across party lines and ideologies. Although, the young generation of leaders of farmers' movements may have been compelled to abandon farming but that has not made them forget the sufferings of the farmers."

How PM Narendra Modi's 'Mann Ki Baat' raked in Rs 10 crore profit for All India Radio
  • Prime Minister Narendra Modi's monthly radio address 'Mann Ki Baat' has translated into a revenue of about Rs 10 crore for the All India Radio (AIR).
    During the last financial years, the national public radio broadcaster earned Rs 4.78 crore in 2015-16 and Rs 5.19 crore from 2016-17 as revenue from airing the hit radio show to which millions tune in to listen.
    Minister of Information and Broadcasting Rajyavardhan Rathore said this in a written reply in the Lok Sabha today.
    The revenue for radio, which reaches about 99 percent of India's population, comes from higher advertising rates. Modi's address to the nation through the radio is pre-decided on a fixed Sunday morning every month. A number of brands want themselves on air just before and after Modi's speech which attracts millions of listeners.
    Launched on October 3, 2014, Modi addresses the nation every month in 'Mann Ki Baat' programme.
    Designed as a personal one-one-one talk to the people of the nation, the prime minister has been raising several issues of national and social importance in his radio address. In January 2015, the radio show had a very special co-speaker - the then US President Barack Obama. 
    To make it a two-way process as part of participatory governance, PM Modi has been asking his listeners as to what on what topic do they want him to speak on. He shares his thoughts on a variety of themes and issues suggested by the people through the Narendra Modi and MyGov websites and apps.
    Minister Rajyavardhan Rathore said the regional version of 'Mann ki Baat' is also broadcast in 18 languages and 33 dialects on the same day after the completion of the original broadcast.
    Besides, the minister said the English and the Sanskrit versions are also broadcast by the AIR.
    Rathore said the 'Mann Ki Baat' is disseminated on transmitters for domestic audience and through the internet and shortwave (SW) transmitters for global listeners.

Tejashwi's meeting with Nitish fails to cut ice, JD-U adamant on Dy CM coming clean on corruption charges
  • Bihar's Deputy Chief Minister Tejashwi Yadav, who is facing charges of corruption and amassing "benami" properties in Delhi and Patna, had a 45 minute meeting with Chief Minister Nitish Kumar yesterday, first since an FIR was lodged against him on 5th July by the CBI. After the meeting, it was speculated that the rift between JD-U and RJD ended and that Tejashwi had got a lifeline. However, within 12 hours of the meeting, JD-U has renewed its attack on the deputy CM demanding answers from him on corruption charges leveled against him.
    "The meeting with Nitish Kumar was not political in nature and therefore as a party JD-U is still wanting answers to the queries we had on corruption charges leveled on Tejashwi Yadav which he has not provided yet," said Ajay Alok, JD-U spokesperson.
    Taking a dig at RJD chief Lalu Prasad and Tejashwi, JD-U spokesperson Ajay Alok asserted that corruption was never an issue in the common minimum programme of the grand alliance govt in Bihar.
    "Our policy on corruption is clear and there is not an inch deviation in our stand on Tejashwi to come out with point by point rebuttal to allegations leveled on him. We cannot compromise with corruption and also it was not there in the common minimum programme that we will do corruption. Bihar still needs answers from Lalu's son," said Alok.
    On the other hand, BJP has attacked Nitish Kumar maintaining that despite meeting Tejashwi and by not acting against him, CM has let himself down and showed that his policy of zero tolerance on corruption was a farce.
    "Why is Nitish Kumar silent and not opening his mouth? He should take action against Tejashwi. The delay in acting against Lalu's son shows that his zero tolerance policy on corruption is a drama," commented Nand Kishore Yadav, BJP leader.

Odisha: Indian Coast Guard joins rescue operations, drops relief materials in flood-affected areas
  • The incessant rains due to low pressure area off the coast of Odisha has resulted in flooding in southern districts of the state.Raygada and Kalahandi have been badly affected in the regions since 16 July.
    Besides several other rescue operations, even Coast Guard has started relief work at various places.
    The Coast Guard State Headquarters at Odisha is coordinating the relief and reconnaissance missions using its Dorniers from Bhubaneswar.
    Close liaison with the state authorities is maintained and the Coast Guard's Dorniers dropped food packets and relief materials in flood-affected areas around Lakhpadar, Khambesi and Gortha villages, which are inaccessible and marooned due to flooding.
    Despite inclement weather and hilly terrain in area half ton of relief material was air dropped in the flood-affected area.
    The Coast Guard is undertaking all the operations in coordination with the district authorities and has successfully supplied relief material to the cut-off area.
    Many schools have turned into relief camps and civic body offices are operating on war-footing.

Right to privacy debate in Supreme Court: All you need to know about today's hearing in 7 points
  • The nine-judge Constitution Bench of the Supreme Court hearing the right to privacy debate today said that there is a need to define privacy and every aspect of liberty is not privacy.
    The Chief Justice-headed Constitution bench's observation came after senior counsel Gopal Subramanimum argued that fundamental ideas of liberty and freedom cannot exist without the right to privacy.
    "One can argue that even sexual orientations are about right to privacy," the Supreme Court said, adding that privacy is an amorphous right.
    1. The nine-judge bench said there is a "need to clarify whether privacy is protected under Right to Life, Freedom of Expression or Right to Equality (Article 21, Article 19 or Article 14)" of the Constitution.
    2. "Every aspect of liberty is not privacy. One cannot have an exhaustive list of what constitutes privacy. The Constituent Assembly could not have imagined the idea of social media," the apex court said.
    3. Earlier, senior counsel Gopal Subramanium arguing for right to privacy said that the Preamble to the Constitution intrinsically guarantees the right. He said that liberty, which is fundamental to a democracy, cannot exist without privacy.
    4. Arguing for right to privacy, which is linked to the big debate on Aadhaar and the government's push for it, Subramanium said the words 'sovereign', 'republic', 'democratic' mentioned in the Preamble do entail a sense of privacy.
    5. He argued that privacy is a broader concept and data sharing is only one aspect of privacy. Subramanium said that privacy is also about freedom of thought and individual autonomy. None of the fundamental rights can be exercised without assuming a certain sense of privacy, he argued.
    6. Gopal Subramanium argued that liberty existed prior to the Constitutional era and the law has merely recognised its existence. Liberty, which is fundamental to democracy, cannot exist without privacy, said Gopal Subramanium.
    7. Soli Sorabjee, who argued for petitioners, said that privacy is not explicitly laid out in Constitution but that doesn't mean the right doesn't exist.

Business Affairs 

    India's economy set to reclaim top spot for growth this year
    • India will reclaim its position as the fastest growing major global economy this year, partly propelled by benefits from a new tax system and bolstered by an expected central bank interest rate cut, a Reuters poll showed.
      Having been in the offing for close to two decades, the goods and services tax (GST), which the government touts as the biggest domestic tax reform since independence, was introduced on July 1 and has bolstered economists' outlook.
      The new national tax will replace multiple cascading taxes levied by the central and state governments which economists in the poll were unanimous in saying would have either a positive or very positive effect on long-term GDP growth.
      The median forecast from the poll of over 35 economists showed India's economy is expected to expand 7.3 percent in the fiscal year ending March 2018, after slowing sharply at the start of 2017 following last year's government move to scrap high-value banknotes.
      While that is a downgrade from the previous poll's forecast of 7.5 percent, it is better than the International Monetary Fund's projection of 7.2 percent.
      It is also stronger than a similar Reuters poll of economists predicting China will grow by 6.6 percent in calendar year 2017.
      "The GST is likely to add one-two percentage points to GDP growth in the medium to long term with dismantling of tax barriers and by creating a unified market, further improving the competitiveness of exporters and in general, the ease of operating in India," said Tushar Arora, senior economist at HDFC Bank.
      The NSE Nifty hit a record high on Monday. It has surged 20 percent so far this year and a separate recent Reuters poll showed the rally is expected continue over the remainder of the year.
      Adding to the brighter outlook, monsoon rains this year are forecast to be above average - a boon for the farm sector that accounts for about 15 percent of India's $2 trillion economy and employs more than half the country's 1.3 billion people.
      If the rains are good, that would lead to bumper grain production and a further slide in food prices which economists said could lend support to Asia's third-largest economy.
      India's annual retail inflation eased to 1.54 percent in June, its slowest pace in more than five years, but is expected to begin rising again through to mid-2018.
      With inflation currently well below its target, the central bank is expected to cut borrowing costs by 25 basis points (bps) at its next meeting on Aug. 2. It last cut rates, by the same amount, to 6.25 percent in October 2016.
      Having changed its monetary policy stance to neutral from accommodative at the start of the year, the Reserve Bank of India (RBI) softened its position on policy in June in view of the sharp drop in retail inflation.
      "We believe the RBI has space to undertake some modest easing over the next few months and yet meet its 4 percent target comfortably," noted Pranjul Bhandari, chief economist at HSBC Securities and Capital Markets.
      After the expected cut in August, analysts believe the RBI will stand pat until at least the end of next year. 

    Air India chief Ashwani Lohani writes to staff, asks them to get ready for new work culture
    • Amidst the ongoing talks of privatization, Air India (AI) chief Ashwani Lohani on Tuesday assured employees their interests would be "safeguarded" as he sought to allay concerns over possible layoffs following the government's decision to sell its stake in the national carrier.
      "I would like to reassure all my employees that during the process of disinvestment, the government and the airline management would like to safeguard your genuine and valid interests and ensure that suitable measures to this effect are put in place," Ashwani Lohani, Air India's chairman and managing director, said in a letter to the staff.
      Lohani's message to Air India employees comes on a day when a section of the staff held a protest against its proposed privatisation over fear of large scale job losses.
      Assuring the staff, he wrote, "It is the firm conviction of the government that the process of disinvestment is only meant to make Air India a much stronger world class airline capable of competing with others successfully".
      He continuously laid emphasis on the fact that the current scenario would be fruitful for Air India in the long run and asked his employees to get ready for a new work culture.
      "This decision is primarily an offshoot of the inability of the airline to service the huge accumulated debt of over Rs 50,000 crore," he wrote.
      The Union Cabinet in June gave its in-principle approval for disinvestment of Air India. A group of ministers headed by Finance Minister Arun Jaitley will finalise the modalities.

    RBI to issue new batch of Rs 20 currency notes
    • Reserve Bank of India is set to release currency notes of denomination Rs 20 under the Mahatma Gandhi series-2005. The new notes will be released with the inset letter 'S' in both the number panels.
      Another change that will be seen in the new currency notes will also carry the signature of RBI Governor Urjit Patel, which the older Rs 20 notes did not have.
      The design of the new notes will not be changed in anyway and will remain the same as the ones released in September 2016 with the inset letter 'R'.
      The older Rs 20 notes in circulation will continue to be legal tender.
      An image of a note of Rs 200 denomination was being widely shared on social media earlier this month, even though no official confirmation about its authenticity came from the responsible authorities. Reports suggest that the printing process had begun and the central banks would soon issue the new notes.
      The RBI reportedly intends to issue the Rs 200 notes to make daily transactions easier for people.
      Last month, the RBI introduced a new series of the recently introduced Rs 500 notes.
      "In continuation of issuing of Rs 500 denomination banknotes in Mahatma Gandhi (new) series from time to time which are currently legal tender, a new batch of banknotes with inset letter "A" in both the number panels, bearing the signature of Dr Urjit R. Patel Governor, Reserve Bank of India; with the year of printing "2017" on the reverse, are being issued," the central bank said in a statement.

    Cabinet approves sale of govt stake in HPCL to ONGC
    • The Cabinet today approved sale of government's stake in Hindustan Petroleum Corp Ltd (HPCL) to India's largest oil producer ONGC for Rs 30,000 crore, a top government source said.
      Oil and Natural Gas Corp (ONGC) will buy government's 51.11 per cent stake in HPCL but will not have to make an open offer as the government's holding is being transferred to another state-run firm and the ownership isn't changing.
      HPCL will become a subsidiary of ONGC and will remain a listed company post the acquisition, the source said adding the boad of the refining and marketing company will continue to remain in place.
      Flowing from Finance Minister Arun Jaitley's Budget announcement of creating an integrated oil company, the government plans to divest its entire 51.11 per cent shareholding in India's third-biggest fuel retailer HPCL to oil producer ONGC. As part of the transaction, HPCL may takeover operations of Mangalore Refinery and Petrochemicals Ltd.
      ONGC currently owns 71.63 per cent of MRPL while HPCL has 16.96 per cent stake in it. The source said it makes better sense for ONGC to consolidate all the refining operations in one unit, he said.
      MRPL will be the third refinery of HPCL, which already has units at Mumbai and Visakhapatnam in Andhra Pradesh. HPCL stock closed at Rs 368.75, down 2.32 per cent, on BSE, while ONGC ended 1.06 per cent up at Rs 161.75.
      After the Cabinet nod, the government will move to appoint valuation and transaction advisers while ONGC too may decide to hire merchant bankers to arrive at the valuation of government shareholding.
      ONGC had evaluated options of acquiring either HPCL or Bharat Petroleum Corp Ltd (BPCL) - the two downstream oil refining and fuel marketing companies. It found the nation's second-biggest fuel retailer BPCL too expensive and conveyed its choice to the parent oil ministry, which relayed it to DIPAM.
      ONGC has cash reserves of Rs 13,014 crore and to fund the government stake acquisition in HPCL, it will have to borrow at least Rs 10,000 crore, the source said.
      BPCL has a market cap of Rs 1,01,622.07 crore and buying government's 54.93 per cent would alone have entailed an outgo of Rs 55,821 crore.
      HPCL on the other hand has a market cap of Rs 56,162.88 and buying government's entire 51.11 per cent stake would entail an outgo of Rs 28,700 crore. Another Rs 14,600 crore or so would be required in case open offer for an additional 26 per cent has to be made.
      Sources said the government was initially looking at creating an integrated oil company through merger of an oil producer with a refiner but the idea was dropped for the fear of repeating the Air India-Indian Airlines kind of a merger which is not considered successful.

    Sensex rises 244 points, Nifty reclaims 9900 level; Bharti Airtel, Coal India lead gains
    • The market ended the Wednesday trading session on a positive note, with the Nifty crossing the 9,900-mark again.
      On July 14, 2017, the Nifty crossed the 9,900 mark for the first time ever and on the July 17, the index closed above the crucial level for the first time.
      On Wednesday, the Nifty closed 72.45 points higher at 9899 level.  The Sensex closed 244.36 points higher at 31,955.35 level, recouping some losses it suffered from a 363 points or 1.13 percent fall in Tuesday's trade.
      On the 30-stock Sensex, Bharti Airtel (3.21 per cent),  Coal India (2.66 percent ) and FMCG major ITC (2.42 percent)  were the top gainers. Infosys (0.56 percent), Hero MotoCorp (0.49 percent), HUL (0.46 percent) and Adani Ports  (0.26 percent) were the top losers.
      ITC on Tuesday plunged up to 15 percent with the government raising tax on cigarettes. Other tobacco stocks such as VST Industries and Godfrey Phillips also lost ground on the government move.
      Today, VST Industries (1.22 percent) and Godfrey Phillips (0.71 percent) closed higher post yesterday's losses. 
      The Nifty Pharma index led by Aurobindo rose 210 points or 2.10 percent and contrubuted mainly to the Nifty's gains. 
      Aurobindo Pharma closed 4.48 percent or 33 points higher at 766 level on the BSE.  The company has received final approval from the US Food and Drug Administration (USFDA) to manufacture Sevelamer Carbonate tablets 800 mg.
      The Hindustan Unilever stock on Wednesday hit a fresh yearly high on its healthy Q1 earnings announced a day ago.
      The stock reached a fresh 52-week high of 1,195 in early morning trade on the BSE.
      The stock closed 0.46 percent lower on the BSE. It has risen 28.27 percent year-on-year.  On an year-to-date basis, the stock is up 38.41 percent.
      On Wednesday, HUL, considered a bellwether for the FMCG sector posted a 9.3 percent rise in standalone net profit at Rs 1,283 crore for the April-June period.  This was more than Bloomberg consensus estimates, which had pegged net profit at Rs 1187 crore.
      Market breadth was positive with 1714 stocks rising against 971 falling on the BSE. 168 stocks remained unchanged.
      Global markets 
      Britain's FTSE 100 was flat at 7,390.86 and the CAC 40 of France gained 0.1 percent to 5,177.63. Germany's DAX lost 0.1 percent to 12,422.19. Wall Street looked set for a tepid start, with S&P 500 futures up 0.03 percent while Dow futures fell 0.04 percent.
      Asia's Day Japan's Nikkei 225 stock index edged 0.1 percent higher to 20,020.86 and the Hang Seng in Hong Kong climbed 0.6 percent to 26,672.16. The S&P ASX 200 in Australia jumped 0.8 percent to 5,732.10, while the Shanghai Composite index added 1.4 percent to 3,230.98. South Korea's Kospi added 0.2 percent to 2,429.94. Shares in Southeast Asia were mixed.

    General Awareness


    • 1. Who is the present Managing Director & CEO of Bank of India?
      a) Dinabandhu Mohapatra
      b) R Subramania Kumar
      c) Sunil Mehta
      d) N.Kamakodi
      e) Neelam Damodharam

      2. RBI has increased the capital requirement for Asset Reconstruction Companies (ARC) From the existing Rs. 2 crore to______ by March 2019.
      a) Rs. 5 crore
      b) Rs. 25 crore
      c) Rs. 100 crore
      d) Rs. 150 crore
      e) Rs. 200 crore

      3. Time limit for settlement of claims in Deceased cases:
      a) 30 days from the date of death
      b) 15 days from the date of death
      c) 15 days from the date of submission of all the documents
      d) 30 days from the date of submission of all the documents
      e) 7 days from the date of death

      4. Under Atal Pension Yojana (APY), the Central Govt will contribute 50% of total contribution or Rs. 1000 whichever is lower, to eligible subscriber's A/c, for a period of ___ years.
      a) 2 years
      b) 3 years
      c) 4 years
      d) 5 years
      e) 6 years

      5. ACH is a system that monitors and administers the processing of cheques and fund clearance among the banks. What is the full form of ACH.
      a) Automatic Clearing House
      b) Additional Clearing House
      c) Autonomous Clearing House
      d) Automated Clearing House
      e) Authorised Clearing House

      6. Mission Indra Dhanush aims to achieve full immunization of more than 90% children by _____
      a) 2018
      b) 2019
      c) 2020
      d) 2021
      e) 2022

      7. MS Dhoni is having SB account (Balance Rs. 80,000) and Fixed Deposit Account (Balance Rs. 1,20,000) in a Bank which is covered under DICGC. If that bank is to be closed for any reason whatsoever, What is the maximum amount MS Dhoni will be reimbursed by DICGC?
      a) Rs.1,80,000
      b) Rs. 1,00,000
      c) Rs. 2,00,000
      d) Rs. 1,20,000
      e) None of the above

      8. Main parties in case of Agency Agreement is:
      a) Debtor - Creditor
      b) Bailor - Bailee
      c) Lessor - Lessee
      d) Principal - Agent
      e) Trustee - Beneficiary

      9. Which of the following is/are correct regarding investment to reduce the risk of adverse price movements in an asset?
      a) Hedge
      b) SPV
      c) MBS
      d) MCLR
      e) b & c

      10. The term "Allonge" refers to a sheet of paper attached:
      a) To a negotiable instrument for the purpose of making endorsement thereon when there is no space on the instrument
      b) To a Non-Judicial Stamp paper
      c) To a mortgage deed for the purpose of witness
      d) To the Sanction Advice of the loan intimating the terms of sanction
      e) All the above

      11. A mutual fund is set up in the form of:
      a) A trust
      b) A Company incorporated under the Indian Companies Act
      c) An Act of Parliament
      d) A Limited liability partnership
      e) None of the above

      12. What is the full form of ARM in case of Loans against mortgage of properties?
      a) Additional Rate Mortgages
      b) Advance Rate Mortgages
      c) Adjustable Rate Mortgages
      d) Appropriate Rate Mortgages
      e) Anomalous Rate Mortgages

      13. Name the only Private Sector Bank in the country which is designated as RBI's agent for banking business and carries out the banking business of Central Government?
      a) HDFC
      b) ICICI
      c) J&K Bank
      d) YES Bank
      e) AXIS Bank

      14. 'Good People to Bank With' is the tagline of:
      a) United Bank of India
      b) UCO Bank
      c) Union Bank of India
      d) Indian Overseas Bank
      e) Vijaya Bank

      15. AMRUT is urban transformation scheme with the focus of the urban renewal projects to establish infrastructure that could ensure adequate robust sewerage networks and water supply. Expand AMRUT.
      a) Atal Mission for Rejuvenation and Urban Transformation
      b) Atal Mission for Reconstruction and Urban Transformation
      c) Atal Mission for Rural and Urban Transformation
      d) Awas Mission for Rural and Urban Transformation
      e) None of the above

      16. The Headquarters of Security Printing and Minting Corporation of India Ltd (SPMCIL) is located in:
      a) New Delhi
      b) Bengaluru
      c) Chennai
      d) Trivandrum
      e) Hyderabad

      17. Deposit Insurance and Credit Guarantee Corporation (DICGC) is a wholly owned subsidiary of:
      a) Central Government
      b) Reserve Banks of India
      c) NABARD
      d) SIDBI
      e) None of the above

      18. With an aim to strengthen Regional Rural Banks, as per the Bill introduced in the Lok Sabha during 2013, the authorized capital of the Regional Rural Banks to be raised to Rs. _____
      a) 1000 crore
      b) 500 crore
      c) 2500 crore
      d) 50 crore
      e) 200 crore

      19. Banks have to submit Suspicious Transactions Report(STR) to FIU-IND (Financial Intelligence Unit - India) as a part of antimoney laundering measures where the transactions:
      a) Appears to be unusual or unjustified complexity
      b) Appears to have no economic rationale or bonafide purpose
      c) Source of funds are doubtful
      d) Are not in commensurate with the business of the customer
      e) All the above

      20. Which of the following points are true with respect to PM Garib Kalyan Yojana?
      a) The deposits under PMGKY shall not bear any interest
      b) The Bonds Ledger account shall not be tradable
      c) No commission / agency bank charges will be paid to the banks for accepting deposits under the scheme
      d) The transferability of Bond Ledger Account shall be limited to nominee or to the legal heir of an individual holder, in the event of his death
      e) All of the above

      21. What type of loan is granted by banks for purchase of white goods?
      a) Loan given for purchase of cotton seeds
      b) Mortgage loan
      c) Consumer durables loan
      d) Home loan
      e) Dairy loan

      22. Which of the following is True regarding QR Code?
      a) QR stands for Quick response Code
      b) It is a payment transfer mechanism
      c) It eliminates the need for PoS machines at a merchant outlet
      d) There is no problem of loss of card or card expiry problems
      e) All the above

      23. Under Rural and Urban Housing for poor, PM announced two new housing schemes for the urban
      poor recently. Under Pradhan Mantri Aawas Yojana (PMAY), the poor and middle class in cities
      will get ___ exemption on interest for home loans up to Rs. 9 lakh and ___ exemption for home loans up to Rs.12 lakh.
      a) 3%; 4%
      b) 4%; 3%
      c) 2%; 3%
      d) 4%; 5%
      e) 5%; 6%

      24. Lien is a/an _______ of the creditor to retain possession.
      a) Right
      b) Obligation
      c) Instrument
      d) Interest
      e) None of the above

      25. The 'Banker's 'Fair Practice' code was brought out in June 2004 by:
      a) IBA
      b) RBI
      c) Government of India
      d) Banking Ombudsman
      e) NABARD

      26. In a Hindu undivided family the business of the family is managed by:
      a) Karta
      b) Proprietor
      c) Partner
      d) Director
      e) Co-Parcenors

      27. A Public Limited Company shares are:
      a) Not transferable
      b) Transferable
      c) The Act is silent
      d) Transferable only if they are purchased in Primary Market
      e) a & d

      28. With an objective to give boost to the small entrepreneurs, credit guarantee for small businesses
      (CGTMSE) has been enhanced from Rs. 1 crore to ______
      a) Rs. 1.5 crore
      b) Rs. 2 crore
      c) Rs. 3 crore
      d) Rs. 4 crore
      e) Rs. 5 crore

      29. Which of the following is not a Material Alteration?
      a) Alteration of the date
      b) Alteration of the sum payable
      c) Alteration of Signature (Forgery)
      d) Alteration of the name of payee
      e) Alteration of the crossing

      30. Under what circumstances banks can with held payments of customers?
      a) When a customer is declared insolvent by the court
      b) When a company goes on liquidation since the rights of account rests with the official liquidator
      c) When the customer become insane
      d) When the cheque is countermanded
      e) All the above

      31. A Fund of Funds is a scheme that invests primarily in:
      a) Money market instruments
      b) Other schemes of the same mutual fund or other mutual funds
      c) The bullion market
      d) The Government Securities
      e) Primary market only

      32. Which of the following are the advantages of Cheque Truncation System (CTS)?
      a) A Faster clearing cycle to provide better customer service
      b) Minimize transaction costs and loss of instruments can be avoided
      c) Additional Security Features
      d) Frauds can be eliminated
      e) All the above

      33. The Indian Banking System is regulated in terms of the provisions of ____ Act, 1934 and ___
      a) Banking Regulation Act, 1949
      b) Negotiable Instruments Act, 1881
      c) Payment and Settlement Act, 2007
      d) Prevention of Money Laundering Act, 2002
      e) None of the above

      34. When affairs of a bank is conducted in such a manner that gives a fair deal to all the stake holders, it is called:
      a) Risk Management
      b) Effective Management
      c) Total Management
      d) Corporate Governance
      e) Mirror Management

      35. The type of arrangement under which a bank pays the seller the value of the bill and later collects it from the buyer on the due date is called_____
      a) Bill discounting
      b) Factoring
      c) Forfaiting
      d) Deferred Collection
      e) None

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

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