Current Affairs(2014) Series 4
Q.1) Recently Reserve Bank of India granted banking licences to infrastructure financing firm IDFC and microfinance institution Bandhan from among ____________ applicants that included corporate heavyweights ADAG Group, Aditya Birla Group and Bajaj Group.
1) 25
2) 26
3) 20
4) 27
5) None of these
Correct Ans:
1 "
lReserve Bank of India granted banking licences to infrastructure financing firm IDFC and microfinance institution Bandhan from among 25 applicants that included corporate heavyweights ADAG Group, Aditya Birla Group and Bajaj Group.
l The in-principle approval granted to infrastructure financing firm IDFC and microfinance institution Bandhan will be valid for a period of 18 months during which the applicants have to comply with the requirements under the guidelines and fulfil the other conditions as may be stipulated by the RBI."
Q.2) Recently RBI extended the timeline for full implementation of Basel III norms to __________instead of 31 March 2018.
1) 31 March 2020
2) 31 March 2021
3) 31 March 2019
4) 31 March 2022
5) None of these
Correct Ans:
3 "RBI extended the timeline for full implementation of Basel III norms to 31 March 2019 instead of 31 March 2018."
Q.3) What is the estimated requirement for implementing one-rank-one-pay scheme for armed forces in 2014 15, in the Interim Budget for 2014?
1) Rs. 100 crore
2) Rs. 700 crore
3) Rs. 1000 crore
4) Rs. 500 crore
5) None of these
Correct Ans:
4 "
Highlights of Interim Budget 2014:
l Fiscal deficit for current fiscal to be 4.6%
l Revenue deficit estimated at 3% for current fiscal
l Excise duty on SUVs cut from 30 to 24%, in large and mid segment cars from 27 24% to 24 20%
l No changes in tax laws in interim budget
l Excise duty cut from 12 to 10 per cent in capital goods sector to stimulate growth
l Excise duty on mobile handset to be 6% on CENVAT credit to encourage domestic production
l Rs. 500 crore estimated requirement for implementing one-rank-one-pay scheme for armed forces in 2014-15
l Rs. 6000 crore to rural housing fund, Rs. 2000 crore for urban housing fund, etc.
"
Q.4) _____________is a financial instrument by which company invite the public to invest their money in the company and investor can become a partner of the company.
1) Debit
2) Equity
3) Debenture
4) Bond
5) None of these
Correct Ans:
2 "
Debenture :It is a loan issued by a firm, involving a fixed repayment schedule, in terms of both time and interest.
Debit: Money paid out from an account either from a withdrawal or a transaction that result in decreasing the cash balance.
Equity: Equity is a financial instrument by which company invite the public to invest their money in the company and investor can become a partner of the company. Generally, when the company have insufficient money to expand its business it comes with equity shares.
Bond: A certificate of debt (usually interest bearing or discounted) that is issued by a government or corporation in order to raise money. The bond issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal.
"
Q.5) Recently P.J. Nayak headed the RBI panel that recommend for diluting govt. stake in public sector banks to below ______.
1) 60%
2) 70%
3) 30%
4) 50%
5) None of these
Correct Ans:
4 "
RBI panel headed by ex Chairman of Axis Bank, P.J. Nayak recommend for diluting govt stake in public sector banks to below 50%."
