Select the correct one/ones about the Board for Financial Supervision (BFS) in India:
1. The RBI performs 'financial supervision' function under the guidance of the Board for Financial Supervision (BFS), which was constituted in 1994 as a committee of the Cental Board of Directors of the Reserve Bank of India.
2. Primary objective of BFS is to undertake consolidated supervision of the financial sector comprising commercial banks, financial institutions and non-banking finance companies.
What is correct about the Board for Financial Supervision (BFS)? Select your answer using the code given below:
1. BFS is constituted by co-opting four Directors from the Central Board of the RBI as members and the Governor functions as its chairman.
2. Deputy Governors of the Reserve Bank are exoffrcio members of the BFS with one Deputy Governor, usually, the Deputy Governor in charge of banking regulation and supervision, is nominated as the Vice-Chairman of the Board.
Functioning of which of the following is not overseen by the Board for Financial Supervision (BFS)?
Consider the following statements related to foreign investment in India and select the incorrect code given below:
1. India has opened its stock market for foreign investments but through institutional institutions only.
2. Foreign individuals can not invest in India's stock market but through only foreign institutional investors (FFIs).
An upsurge has been seen in the NPAs of public sector banks, recently-select the correct factors responsible for it using the code given below:
1. lower economic growth in the country.
2. aggressive lending by banks in the past, especially during good times.
3. lack of right loan-recovery legal provisions.
5. banks switching over to a system-based identification of NPds.
Select the statement/statements which are correct about the Integrated Child Development Services (ICDS) Scheme from the choices given below:
1. The scheme aims at holistic Development of children below 6 years of age.
2. Proper nutrition and health education of pregnant and lactating mothers are also among its objectives
Which of the following action/actions can be takenby the government to reduce the persistent challenge of budget deficit?
1. Reducing the duties on imports
2. Rationalising subsidies
3. Cutting the expenditure of revenue
4. Merging the existing welfare schemes
Which of the following is/are correct about India's 'primary deficit'?
1. This is the fiscal deficit after deducting the cost of interest payment.
2. Falling fiscal deficit and rising primary deficit is considered good.
3. Interest payment constitutes around 82 per cent of India's fiscal deficit.
Which of the following is/are correct about India's present fiscal situation?
1. Aggregate tax to GDP ratio of India is around 17 per cent.
2. The tax to GDP ratio of the Government of India (GoI) is around 10 per cent.
3. The tax to GDP ratio of the GoI falls to around 6.5 per cent after devolution to states.
Which of the following best describes the term 'CFC' which is being used in the new methodology of accounting India's national income?
1. It is the value of wear and tear in the fixed assets of during the production process.
2. It is the consumption of fixed capital, the other name for depreciation in the fixed assets.
3. It is now derived through a new method due to which it is always lower than the depreciation of the fixed assets of the firms involved in production
Select the correct one/ones about the recently unveiled 'Bank Correspondent Model' aimed atwage delivery in the rural areas using the code given below:
1. In its efforts towards greater transparency and strengthening of the system for the payment of wages, the Ministry of Rural Development has decided to introduce a Bank Correspondents
2. Under this model the Banks will appoint Business Correspondents who will deliver the banking services straight to the door steps of the intended beneficiaries at the village level
Which of the following are incorrect when the Government starts repurchasing its bonds before their maturity periods? Select the answer using the code given below.
1. promotion of an 'expansionist' monetary policy.
2. an attempt to increase the saving rate of the economy.
3. a tool to check the rising inflation.
4. promotion to credit creation by the banks.
Select the incorrect statements about 'narrow banking', using the code given below:
1. a banking business in which banks go for short-term risk-free lending.
2. a type of retail banking in which banks provide short-term 'open-ended' loans.
3. when banks prefer short-term 'closed ended' lending to the corporate sector.
4. a banking business which adopts long-term collateralised loans to public
Select the incorrect statements about the 'ordinary shares' of a limited liability firm, using the code given below:
1. They undertake maximum entrepreneurial risk associated with a business venture.
2. These shares do not avail any voting right in the affairs of the company.
3. If a company is going for closure these shares get their claims after the bank loans have been settled and before the preference shares.
4. Company Law provides them no investment claims in the situations of closures.
Select the incorrect statements about the Grain Bank, using the code given below:
1. Run in tribal and non-tribal rural areas by the Ministry of Tribal Affairs and the Ministry of Consumer Affairs, Food and Public Distribution, respectively
2. Foodgrains can be borrowed from it by mortgaging dwellings.
3. Set up in the food scarce areas, it aims at providing safeguard to all against starvation during natural calamity and lean period.
4. Civil society bodies can also run it.
Select the correct statements related to the sugar industry, using he code given below:
1. Sugar mills are now free to sell their entire production as per their commercial prudence.
2. The new procurement system of sugar for the Public Distribution System is costlier.
3. Sugar mills pay Rs. 24 per quintal as Sugar Cess to neutralise the government expenditure of sugar distribution through the public distribution system.
4. Government provides loan to the sugar mills from the Sugar Development Fund for production of anhydrous alcohol.
Select the correct statements about the GIC Re, using the code given below:
1. The public sector Reinsurer provides reinsurance support to the life and non-life insurance companies in the country.
2. It also manages Marine Hull Pool, Indian terrorism insurance pool and India motor third party insurance pool for commercial vehicleson behalf of Indian insurance industry.
3. It has emerged as a preferred reinsurer in the Afro-Asian region.
4. It is the 3rd largest aviation reinsurer globally.
What is incorrect about the headline inflation of India? Select the answer using the code given below:
1. Urjit Patel Committee has advised to measure it at WPI as well as CPI.
2. This is the inflation for the Indian economy and is measured at only WPI.
3. Inflation-indexed bonds are issued in India linked to it only.
Select the correct statement/statements related to the Central Sales Tax (CST) and the VAT (Value Added Tax) from the list given below, using the code given below:
1. CST is a destination-based tax of the Centre while VAT is a origin-based tax of the States.
2. CST is inconsistent with the VAT.
3. CST is a cascading-type tax not rebatable against the VAT.
which of the following is correct about the term'basic price' which has been used in the new A methodology to account India's national income?
1. It is the amount received by the producer.
2. This does not include either the indirect taxes
or the transportation cost.
3. It includes the subsidies.
Select the correct statements about the WTOrelated groups from the choices given below using the code given below:
1. G-33 is the group of the agricultural importing countries of the world.
2. C-4 is the group of the sub-saharan countries lobbying for cotton trade reforms .
3. Crains Group is the lobby of the agricultural exporting countries.
4. G-10 is the group of small countries most vulnerable to agricultural imports.
Select. the incorrect code related to the 'development' and 'non-development' expenditures in India from the given set of choices, using the
code given below:
1. Plan expenditure is the leading development expenditure of the government in India.
2. Maintenance expenses of the assets created by the plan expenditure of the previous years are also considered as the developmental expenditures.
3. Planning Commission mainly deals with the plan expenditures though, in practice, it provisions funds for the non-plan expenditures, too.
Select the correct statements regarding depreciation - using the code given below:
1. fixed assets losing monetary value over the time.
2. loss of value in a domestic currency in front of a foreiga currency.
3. fall in the monetary value of the equipments of
a plant due to their use.
4. it does not happen in case of non-fixed assets
Deficit financing leads to inflation in general, but it can be checked if-
Which of the following is/are correct about the budgeting process of the Government of India?
1. Unlike some other countries, the fiscal deficit of India is mostly financed from domestic sources.
2. Domestic sources meet around 98 per cent of India's deficit financing.
3. Market borrowing constitutes around 84 per cent of domestic sources in India's deficit financing
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