Current Affairs Current Affairs - 18 October 2017 - Vikalp Education

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Current Affairs - 18 October 2017

General Affairs 

Andhra Investigates Planting Of Monsanto's Unapproved GM Cotton
  • One of India's biggest cotton-growing states has formed a panel to investigate how 15 percent of the state's cotton acreage has been planted with a non-approved genetically modified strain developed by Monsanto and may bring criminal charges.

    The three-member panel will investigate the usage of Monsanto's Bollgard II Roundup Ready Flex (RRF) in Andhra Pradesh and alert the centre about any violation of the country's environmental protection laws, according to a copy of the state government order dated Tuesday and reviewed by Reuters.

    The order on Tuesday followed a similar order on October 5 that was to inspect fields growing Bollgard II but that order was withdrawn on Friday with no explanation.

    The new committee, composed of agricultural experts, has been asked to submit a report within 15 days, according to the order.

    The new directive asks the "investigating committee to look into the illegalities and risks of such seed sales and cultivation."

    The committee may also bring criminal charges under India's 1989 Environment Protection Act, the order said.

    The centre has not commented on the issue since Andhra Pradesh handed down the October 5 order.

    Environment Minister Harsh Vardhan did not respond to a request seeking comment on the new order.

    A spokesman for Monsanto India referred to its earlier statement following the October 5 order. In that statement, the company said the matter was of "grave concern" and that seed companies illegally attempted to "incorporate unauthorised and unapproved herbicide-tolerant technologies into their seeds" for profit.

    Monsanto last year withdrew its application seeking approval for Bollgard II RRF following a dispute with the government that cut the royalty the company received for licensing out the technology to local seed firms.

    The withdrawal was seen as a major escalation in a long-running dispute between the Indian government and Monsanto, which is also locked in a legal battle with some local seed companies over intellectual property rights.

Aadhaar Can Be Sole Identity Proof For Voting: Ex-Election Body Chief
  • Former Chief Election Commissioner T S Krishnamurthy today favoured doing away with voter ID card and said Aadhaar can be the sole identity proof for voting.

    At present, the Election Commission allows a number of documents, including passport, as identity proof in the absence of voter ID card.

    "Today, we are having too many cards leading to so many complications. Don't introduce too many complications in the system. Time has come we should think of only one card, whatever be the card," Mr Krishnamurthy said.

    "ID proof may be Aadhaar card when you are using it for all other purposes. It can be used for election also," he said.

    "Aadhaar itself can be made as an election ID card. Why do you want to have election ID card as well as Aadhaar? If all voters are covered by Aadhaar, then you should eliminate voter ID card and make Aadhaar the only ID for electoral purposes," Mr Krishnamurthy told PTI.

    He said till the entire country is covered by Aadhaar, both the cards should be allowed as identity proof for voting.

    "You can set a particular cut-off date, may be 2019 or 2020 or whatever, everybody should have Aadhaar card (for voting)", the former CEC said.

    He also said there was no need for the Election Commission to "delink" Himachal Pradesh and Gujarat Assembly polls, and termed it an "avoidable controversy".

    Mr Krishnamurthy argued that Himachal Pradesh election could have been postponed by a few days to club it with that in Gujarat.

    "I don't know why they should be delinked because it was an avoidable controversy, I thought. There was no need to delink them," the former CEC said.

    "When the convention (holding elections to Himachal Pradesh and Gujarat simultaneously) has been so, it could have been easily followed, or even if there was difficulty, the Himachal elections could have been postponed by four or five days," he said.

    The EC had on October 12 announced that the Assembly elections in Himachal Pradesh would be held in a single phase on November 9 and the results would be declared on December 18.

    The poll panel did not announce the dates for Assembly elections in Gujarat, but Chief Election Commissioner A K Joti had said that the elections will be held before December 18.

    On BJP MP Varun Gandhi reportedly terming the poll panel a "toothless tiger", Mr Krishnamurthy said, "There is no power (with the poll panel) to deregister (derecognise parties), but whether it makes it (EC) toothless animal, I don't know."

    Mr Gandhi had reportedly said the Election Commission was a "toothless tiger" as it had never derecognised any political party for not submitting poll expenditure details within the stipulated time.

    "Yes, there is no power (to derecognise parties), and that power should be available. Law can be amended to say that if you (EC) have power to register, you can deregister a party under certain circumstances," Mr Krishnamurthy added.

Any New Initiative Will Face Problems: Venkaiah Naidu On GST Issue
  • Terming GST as a path breaking measure of the government, Vice-President M Venkaiah Naidu today said any new initiative will face problems but said the focus should now be on implementation of the tax reform and making it more people friendly.

    "Any new legislation, any tranformation, there will be some problem and there are problems, how can anybody deny, the debate is on... let it go on," he said.

    Once having agreed to GST, "now only think about implementing it and how to make it more effective and more people friendly and that is the idea."

    Stating that none should worry about criticism, he said the debate, however, needs to be 'meaningul and purposeful'.

    Addressing the 90th anniversary celebrations of Andhra Chamber of Commerce, he said the implementation of GST was a collective decision of all political parties and recalled his days as Minister for Parliamentary Affairs when he had mobilised support for the new tax law.

    On demonetisation, he said "we have to wage a war against corruption and we have to end black money and one idea was this."

    "If others have other good ideas (to end graft and black money), "give ideas" to the government and "tell people that they (government) have gone wrong and we will come to power and we will do this."

    Mr Naidu said the debate should be on those lines rather than opposing while in the opposition and proposing while in government. "it is not a correct thing for democracy."

    Corruption was eating into the vitals of the system at various levels, he said, adding that he was not referring to any particular party's regime "as it was not my responsibility now" and demonetisation was one step to end it.

    He said initiatives like "Save the girl child" of the government should be regarded as "national programmes" and "people's programmes" and not as one of any particular party.

    In such initiatives there was nothing about party politics.

Prime Minister Narendra Modi Promises Ayurveda Hospital In Every District
  • Underscoring the importance of Ayurveda, Prime Minister Narendra Modi today said time has come for a "health revolution" led by the traditional medicine system and pitched for affordable and accessible healthcare.

    Addressing a gathering after dedicating the country's first All India Institute of Ayurveda to the nation, the prime minister noted that the world is heading "back to nature and wellness".

    Marking 'Ayurveda Divas' today, he described the medicine system as India's strength and urged those working in the sector to revive it. He also asked experts from the field to find medicines which can, like allopathy, give immediate relief to people but without side-effects.

    The prime minister also urged private players to use part of their corporate social responsibility funds to help strengthen Ayurveda.

    "We have seen the IT revolution in last 30 years. Now, time has come for a health revolution under the aegis of Ayurveda. Let's pledge to strengthen, revive Ayurveda," PM Modi said.

    Listing steps being taken by his government to revive and strengthen the system, PM Modi said Ayurveda-related hospitals should be set up in each district of the country.

    He said the Ayush Ministry would ensure that there was a good Ayurveda hospital in each district.

    Noting that people across the world were getting attracted towards good health as well as wellness, the prime minister suggested that time was ripe for an atmosphere of Ayurveda to evolve.

    He said there was need for a relook of the Ayurveda syllabus and underlined the requirement for standard guidelines and treatment in the medicine system so it is not overpowered by Allopathy.

    The government, PM Modi added, respects all health and medicine systems.

    He said the Ministries of Ayush and Agriculture can guide farmers to sow medicinal plants. This will also help farmers boost their income in line with the government's plan to double their income by 2022, when India attains 75 years of independence.

    PM Modi also reiterated the importance of cleanliness as part of preventive healthcare.

China Speeds Up Work On $2 Billion Project That India Has Objected To
  • China plans to complete a $2 billion hydropower project in Pakistan-Occupied Kashmir ahead of schedule, according to state-run media in Beijing.

    The Karot Hydropower Project is being built on the river Jhelum. Construction began last year. It will be owned by a Chinese firm for 30 years, after which it will be handed over to the Pakistan government.

    India has consistently opposed China's funding of projects in Pakistan-Occupied Kashmir on the grounds that it violates India's territorial sovereignty.

    The company said in a statement that the project will help ease Pakistan's power shortage and generate local employment.

    The report in the Global Times, a nationalist tabloid, has not mentioned the new timeline for the project. Last month, Bloomberg reported that the project would be ready nine months ahead of its December 2021 deadline. "India has repeatedly expressed its concern over the project since the project is located in disputed Kashmir, but it won't affect cooperation between China and Pakistan, because the ties are unshakable and will not target India," the Global Times quoted Hu Zhiyong, a research fellow at the Shanghai Academy of Social Sciences' Institute of International Relations.

    China is spending about $54 billion on infrastructure projects for the China Pakistan Economic Corridor, which also runs through Pakistan-Occupied Kashmir and is part of  the massive 'Belt-And-Road' plan to connect China with Europe and Africa through a network of roads,  rail and ports.  India has denounced the project and boycotted a huge conclave in May in Beijing that was attended by 60 countries that have signed up to the Belt-and-Road project.

    China and India ended their worst border stand-off in decades at the end of August with both sides agreeing to withdraw their troops from the flashpoint at the remote Doklam Plateau in the Eastern Himalayas. Indian troops crossed the Sikkim border in June to stop China from constructing a new road located close to the "Chicken's Neck" which links India to its northeastern states.

Business Affairs

MP police cyber cell busts Indo-Pak gang involved in credit card fraud
  • Busting an international gang of credit card hackers, the cyber wing of Madhya Pradesh Police has arrested two persons on Monday who are accused of making large-scale online purchases by hacking information on credit cards. The two accused, both residents of Mumbai, are suspected to be associated with a gang of international cyber criminals, run by Pakistani citizen Shaikh Afzal aka Shozi.
    Speaking after the arrest of credit card hackers, Superintendent of Police (SP) of State Cyber Cell of Indore unit, Jitendra Singh said that two Indian members of this gang, identified as Ramkumar Pillai and Ramprasad Nadar, were arrested following a complaint made by a bank official from Agar Malwa district.
    "We have learnt that Shozi is a native of Lahore and got married only last year. Shozi visits different countries across the world. He was in Uzbekistan when Nadar and Pillai talked to him last time through Skype. We are trying to confirm these details," the Superintendent of Police said.
    The duo purchased hacked credit card details from some websites on the dark web and later paid for the information through Bitcoin. "If this payment is measured in terms of Indian currency, it costs only Rs 500 to Rs 800 to buy details of every credit card," Singh added.
    The gang members bought air tickets and travel packages of Bangkok, Thailand, Dubai, Hong Kong and Malaysia by using this information of hacked credit cards. They also shopped costly items online using the hacked details, said the official.
    Singh said the accused also used to send half the amount, they spent by misusing the credit card details, to Shozi by secret online methods.
    The accused also used to select the online e-commerce website, where they do not need a one-time password (OTP) to make a purchase. So, the holders would get the information about the misuse of credit cards only after the payment.
    Singh said initial investigation revealed that both the accused have made purchases of about Rs 20 lakh by misusing the details of 17 credit cards so far. However, this figure may go up after further investigation.
    He said that the police have been searching for a resident of Jabalpur, who is also learnt to be connected with this gang.

Gold price drops by Rs 140 in Delhi due to global cues on Dhanteras
  • While gold saw some buying on auspicious occasion of Dhanteras, it fell by Rs 140 per 10 gm mainly due to profit-booking in the national capital. The weak trend overseas due to dollar strengthening against major currencies further eroded the appeal of the metal as a safe haven and also contributed to the fall in the prices. In Mumbai, the prices fell by Rs 50 for 10 gram of 22-carat gold, and by Rs 55 to Rs 31,854 per 10 gram of 24-carat gold. In Ahmedabad, spot gold was trading at Rs. 29,708 per 10 grams with a loss of 0.54 per cent at the Multi-Commodity Exchange (MCX).
    In the futures market too, gold for delivery on December 5, 2017 was trading 0.48 per cent lower at Rs. 29,712 per 10 grams as of 1:33 pm. The fresh weakness in gold price overseas weighed on gold futures.
    Globally, the spot gold was down 0.4 per cent at $1,289.20 an ounce, as of 0706 GMT (12:36 pm in India), while US gold futures for December delivery slipped 0.9 per cent to $1,291.70 per ounce, according to news agency Reuters.
    Silver, the poor cousin of gold, also recorded a fall of Rs 400 to Rs 41,000 per kg even as retailers made token buying in coins.
    Earlier in the day, Finance Minister Arun Jaitley launched gold options trading on MCX.  According to reports, MCX will approach the regulator Sebi (Securities and Exchange Board of India) for seeking permission for trading in other commodities like cotton, crude palm oil, silver and copper.
    "This marks a very important evolution in trading of yellow metal itself. It hedges all risks by giving them (traders) the option of futures," Jaitley said right after launching the options trade on the auspicious day of Dhanteras.
    "I am sure more it formalises, better it is for consumers, jewelers and those trading in this. That's in consonance with the business environment for future that we see for us," Jaitley added.
    Trading in gold option has been allowed by the regulator SEBI after 14 years of commencement of commodity exchanges in the country.
    Option is an instrument that gives the buyer a right to buy or sell an underlined at a present price on a future date. It is akin to a form of price insurance and, therefore is best suited for hedgers. They are of two types: calls (right to buy) and puts (right to sell). If an investor sees gold prices rising, then he can buy into a call option and take a position in a put option if he expects a bearish trend.
    The investor benefits if the expectation of price movements comes true. The European-styled gold options will be hedger-friendly and physically settled, MCX said in a statement. The gold options contract will trade from Tuesday and will expire on November 28 and January 29.

Wipro Q2 net profit declines marginally to Rs 2,143 crore
  • India's third largest IT services company Wipro on Tuesday said its consolidated net profit has declined marginally to Rs 2,143.2 crore for the quarter ended September 30, 2017, as against a net profit of Rs 2,163.6 crore in the July-September 2016 quarter.
    Accordoing to a statement  by Wipro, the IT Services segment of the compnay posted profits to the tune of Rs 22.8 billion with a sequential increase of 4 per cent. The net income registered by the company in the past quarter stood at Rs 21.9 billion, which is a 5.5 per cent increase in comparison to Q1 and 6 per cent increase in comparison to corresponding period last year. The company raked in gross revenue of Rs 134.2 billion during September quarter.
    "We surpassed the milestone of $2 billion in quarterly revenues for IT Services on the back of  rigorous execution of our strategy." said Abidali Z. Neemuchwala, Chief Executive Officer and Member of the Board.
    "Our unique Digital capabilities powered growth in top clients and position us well to drive our clients' digital transformation," Neemuchwala added.
    Wipro's total income slipped 1.8 per cent to Rs 14,134.8 crore in the quarter under review from Rs 14,407.3 crore in the year-ago period, it added.
    Revenues from IT services segment, which accounts for a significant portion of the company's topline, stood at USD 2.013 billion, up 2.1 per cent sequentially.
    "Productivity gains generated by our HOLMES automation suite and operational efficiencies overcame the incremental impact of wage hikes and expanded IT Services margin to 17.3%," said Jatin Dalal, Chief Financial Officer.
    This was higher than the company's revenue guidance range of USD 1,962 million to USD 2,001 million.
    For the October-December 2017 quarter, the company expects revenues from the IT services business to be in the range of USD 2,014 million to USD 2,054 million.
    Wipro's revenues from IT products segment was Rs 300 crore (USD 46 million) in the reported quarter.
    The company saw its headcount coming down to 1,63,759 during the second quarter from 1,66,790 in the previous sequential quarter. Attrition stood at 15.7 per cent on trailing 12 months basis.

    Immediately pay interest on gold under Gold Monetisation Scheme: RBI to banks
    • The Reserve Bank today asked banks to "immediately" pay interest due on the gold deposited by individuals and institution under the Gold Monetisation Scheme (GMS) launched in 2015.
      The government had launched the scheme to curb imports of gold, which has a bearing on current account deficit.
      Gold can be deposited under the GMS with a designated bank in the account of the Central government for a medium term period of 5-7 years or a long term period of 12-15 years.
      In a notification, the RBI said reimbursement of payments made by banks, relating to Medium and Long Term Government Deposit (MLTGD), will be made by its Central Account Section (CAS), Nagpur.
      "Accordingly, banks are advised to pay immediately the interest amount already due to the depositors and to take note that, in future, payment of interest to the depositors is to be made on the due dates," said the notification.
      After making payments, the banks may raise claim to government through RBI, the notification added.
      The rate of interest on gold deposit is decided by government and notified by Reserve Bank of India from time to time.
      The annual rate of interest on medium term deposit is 2.25 per cent and on long term deposit it is 2.50 per cent.

      Prime Minister Narendra Modi's national infra fund gets $1 billion investment from Abu Dhabi
      • Prime Minister Narendra Modi's ambitious National Investment and Infrastructure Fund has just got its first foreign investor - Abu Dhabi Investment Authority or ADIA - which will invest USD 1 billion, almost two years after NIIF's creation in 2015. Ministry of Finance on Monday issued a press statement saying that an agreement between India and ADIA Group has been signed to mobilise long term investment into NIIF.
        "As a part of the agreement, ADIA will become the first institutional investor in NIIF's Master Fund and a shareholder in the National Fund's investment management Company," the press statement said.
        The NIIF was created in 2015 with a proposed corpus of Rs 40,000 crores. The state's contribution to the Fund shall be 49 per cent of the total commitment at any given point of time. The NIIF has been mandated to solicit equity participation from strategic partners such as overseas investors that could include sovereign/quasi-sovereign/multilateral/bilateral investors.
        Speaking on ADIA's USD 1 billion investment, Economic Affairs Secretary Shri Subhash Chandra Garg said: "This is a significant milestone in operationalisation of NIIF. This Agreement paves the way for creating significant economic impact through investment in commercially viable infrastructure development projects."
        Apart from ADIA, several other investors such as Government of UAE, Russia-based RUSNANO, Qatar Investment Authority or QIA, Russian Direct Investment Fund and Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development or JOIN- have signed agreements with the National Fund.
        In addition, DEA has signed terms for cooperation on the NIIF with the US Treasury and the UK Treasury, the Finance Ministry said. It further said that an India-UK Green Growth Equity Fund has been announced in April 2017. "The fund shall be set up under the fund of funds vertical of NIIF, and shall have anchor commitments of GBP 120 million each from Government of India (through NIIF) and Government of UK," the statement said.
        Alongwith foreign investors, there are six other domestic institutional investors who will also be joining the government's NIIF Master Fund. These domestic investors are - HDFC Standard Life Insurance Company Limited, HDFC Asset Management Company Limited, Housing Development Finance Corporation Limited, ICICI Bank Limited, Kotak Mahindra Old Mutual Life Insurance Limited and Axis Bank Limited.
        The government has set up a Governing Council to act as an advisory council to NIIF. The Council will be headed by Finance Minister Arun Jaitley.

      General Awareness


      • 1. Which of the following institutions provides secured depository services?
        a) NSE
        b) NSDL
        c) RBI
        d) BSE
        e) NPCI

        2. While dealing with Foreign Exchange transactions "Multicurrency basket" means:
        a) A number of international currencies to which the value of SDRs is linked
        b) Selected international currencies to which the value of Asian Monetary Unit is linked
        c) Number of major international currencies to which the external value of the Indian rupee is linked
        d) The name given to a group of West European currencies
        e) None of the above

        3. Name of the Bank and CMD is given below. Which pair is not a correct one?
        a) Allahabad Bank - Usha Anantha Subramanian
        b) Andhra Bank - Suresh N Patel
        c) Bank of India - Rajeev Rishi
        d) Bank of Baroda - PS Jayakumar
        e) Bank of Maharashtra - Ravindra Prabhakar Marathe
        4. In banking parlance when a negotiable instrument is endorsed with notation "Sans recourse", it means:
        a) Without liability to payment bank
        b) Without physical touch
        c) Without liability to me
        d) Without liability to payee
        e) None of the above

        5. When the holder of an order cheque signs on the back of it , without specifying the person to
        whom the amount is to be paid, it is called:
        a) Full endorsement
        b) Partial endorsement
        c) Conditional endorsement
        d) Restrictive endorsement
        e) Bank endorsement

        6. Mandate is an/a:
        a) Stamped agreement
        b) Unstamped agreement
        c) Memorandum of agreement
        d) Letter of consent for agreement
        e) None of the above

        7. Earlier Form 15G/15H submitted by the depositors to their bankers for not deducting TDS. These
        forms so collected had to be sent to Income Tax Department. However as per revised procedure, banks will not send copy of form 15G/15 H to Income Tax Department but will retain the same with them for:
        a) 2 years
        b) 3 Years
        c) 6 years
        d) 7 years
        e) 8 Years

        8. Merchant bankers are:
        a) Financial Brokers
        b) Financial Intermediaries
        c) Credit Appraisers
        d) Underwriters
        e) All of the above

        9. Name the Chairman of Insolvency Bankruptcy Board of India?
        a) Romesh Sobti
        b) Madhusudan Sahoo
        c) P. JayaRama Bhat
        d) P. Mukherjee
        e) V.G. Mathew

        10. In which years RBI and SBI are nationalized respectively?
        a) 1955, 1949
        b) 1969, 1955
        c) 1949, 1955
        d) 1955, 1969
        e) 1949, 1969

        11. Non-profit organizations are categorized in which risk category as per new KYC(Know Your
        Customer) and AML (Anti-Money Laundering) guidelines:
        a) Low Risk
        b) Medium Risk
        c) Little Risk
        d) High Risk
        e) Very High Risk

        12. As per Section 138 of N.I. Act, there is a provision of penalty:
        a) If cheque given as gift is dishonoured
        b) If signature of drawer do not tally with that is one on record
        c) If cheque issued in discharge of a liability is dishonoured due to insufficient funds in the account
        d) If the cheque has been presented to the paying banker within a period of 3 months from date written on it & is not honoured due to insufficient funds
        e) c & d both

        13. The reserve which is created out of the capital profit is known as capital reserve. Which of the
        following items for part of Capital reserve?
        a) Profit on revaluation of assets and liabilities
        b) Profit on sale of assets & sale of shares and debentures
        c) Profit on forfeiture of shares & redemption of debentures
        d) Profit on purchasing running business
        e) All the above

        14. Kisan credit Cards are issued to farmer____:
        a) To withdraw money from ATM
        b) To purchase farm equipments
        c) To purchase agricultural implements on credit from dealers
        d) To meet their cultivation needs and non-farm requirements, including purchase of inputs and other short-term requirements and working capital requirements for allied activities
        e) None of the above

        15. At present lending rate is calculated on the basis of MCLR. In MCLR 'M' Stands for:
        a) Marginal
        b) Macro
        c) Micro
        d) Market
        e) Margin

        16. Holders of 'Basic Savings Bank Deposit Account' will not be eligible for opening any other
        savings account in that bank. If a customer has any other existing savings account in that bank, he will be required to close it within:
        a) 30 days from the date of opening a 'Basic Savings Bank Deposit Account'
        b) 45 days from the date of opening a 'Basic Savings Bank Deposit Account'
        c) 60 days from the date of opening a 'Basic Savings Bank Deposit Account
        d) 90 days from the date of opening a 'Basic Savings Bank Deposit Account'
        e) 120 days from the date of opening a 'Basic Savings Bank Deposit Account'

        17. Credit Rating Agencies in India are regulated by:
        a) RBI
        b) CRISIL
        c) Central Government
        d) IDRBT
        e) SEBI

        18. What is the main objective of setting up of CERSAI?
        a) Increasing revenue of Central Govt.
        b) Preventing frauds
        c) To compile statistics relating to total immovable properties in the country
        d) To ensure whether a Company has registered with ROC properly or not
        e) None of the above

        19. Consequent upon merger of 5 subsidiaries and Bharatiya Mahila Bank into State Bank of India.
        which of the following statement is correct?
        a) This merger has catapulted SBI into one of the top 50 global banks (up from 55th position in 2016)
        b) SBI's balance sheet size is Rs.33 lakh crore
        c) The total number of branches and ATMs of SBI has become 24,017 and 59,263 respectively
        d) The customer base of SBI is now over 42 crore
        e) All the above

        20. Google global CEO Sundar Pichai has launched training programme called ________ for
        Small and Medium Businesses (SMBs) and startups to go digital in India in partnership with Ministry of Information and Technology and the Federation of Indian Chambers of Commerce and Industry.
        a) "Digital Unlocked"
        b) "Wallet Unlocked"
        c) "SME unlocked"
        d) " Unlocking SME Potential"
        e) None of the above

        21. Which Bank's MD and CEO has been awarded the 'Woodrow Wilson Award' by the Woodrow Wilson Centre in Washington DC:
        a) HDFC
        b) YES bank
        C) ICICI
        d) SBI
        e) Punjab National Bank

        22. Match the following mergers of banks.
        List I
        A. Centurion Bank of Punjab
        B. Bank of Rajasthan
        C. Global Trust Bank
        D. Nedungadi Bank
        List II
        1. ICICI Bank
        2. Punjab National Bank
        3. HDFC Bank
        4. Oriental Bank of Commerce
        a) A - 4; B - 1; C - 2; D - 3
        b) A - 3; B - 4; C - 1; D - 2
        c) A - 2; B - 1; C - 4; D - 3
        d) A - 3; B - 1; C - 4; D - 2
        e) None of the above

        23. Which document stipulates internal rules of a company?
        a) Memorandum of Association
        b) Prospectus
        c) Articles of Association
        d) Declaration
        e) Special Resolution

        24. Banks Board Bureau (BBB) has recommended to the government names of 15 general managers of various public sector banks for appointment as executive directors. Who is the chairman of Banks Board Bureau?
        a) Vinod Rai
        b) Chandrashekhar Ghosh
        c) Mukesh Sharma
        d) K.B. Nagendra Murthy
        e) Arvind Panagariya

        25. "Aapka Bhala, Sabki Bhalai"is the slogan of:
        a) Allahabad Bank
        b) Federal Bank
        c) ICIC
        d) HDFC
        e ) Bandhan Bank

        26. Which of the following statements are correct regarding NRO Non Resident Ordinary Rupee Account?
        a) Mainly used for local transactions in India
        b) If a citizen becomes an NRI, the existing account will be converted into NRO
        c) Can be opened in the form of Savings, Current, Recurring or Fixed Deposit account
        d) Can be opened jointly with Resident Indian
        e) All the above

        27) A scheme named ___ offers a long term subscription to Pradhan Mantri Suraksha Bima Yojana with attached Fixed Deposit.
        a) Suraksha Deposit Scheme
        b) Suraksha Insurance Cover
        c) Jeevan Suraksha Yojana
        d) Suraksha Cover
        e) Suraksha Plus Scheme

        28. The Maximum number of members in a Private limited company is:
        a) 50
        b) 20
        c) 10
        d) 200
        e) No limit

        29. With which of the following is SARFAESI Act 2002 related?
        a) Recovery of bad loans
        b) Regulation of Foreign Exchange
        c) Fixation of interest rates
        d) Acquisition of small banks
        e) None of the above

        30. ________ is money whose face value exceeds its cost of production.
        a) Production Money
        b) Token Money
        c) Paper Money
        d) Black Money
        e) Call Money

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

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