1. A panel headed by Parthasarathi Shome submitted its recommendation recently. Which
Of the following is NOT correct with respect to these recommendations?
a. The post of revenue secretary should be abolished as part of needed reforms in the tax
administration.
b. The Central Board of Direct Taxes and the Central Board of Excise and Customs should
be merged to achieve efficiencies.
c. A separate budget allocation to ensure time-bond tax refund and a passbook scheme for
tax Deduction at Source.
d. Develop PAN as a common business identification number to be used by other govt
departments also.
e. The retrospective amendments to tax laws should be adopted to avoid tax losses.
2. Who among the following leading Indian software exporters has become the world’s
third largest employer of people in the IT sector, with over 3 lakh employees? At the
Present pace it is all set to become the second largest employer in IT sector only behind
IBM this year.
a. Infosys b. Wipro c. TCS d. HCL e. Tech Mahindra
3. Through which of the following tools do banks park excess liquidity with the Reserve
Bank of India?
a. Term repo b. Reverse term repo c. Bank rate d. LAF e. None of these
4. The then Finance Minister P Chidambaram had asked the Asian Development Bank
(ADB) to double its lending capacity to $20 bn a year at the annual meeting of ADB in
Astana, Kazakhstan. What has been the annual lending capacity of ADB under Ordinary
Capital Resources for the past five years?
a. $4-5 bn b. $6-7 bn c. $8-9 bn d. $10-11 bn e. $12-13 bn
5. The new Indian capital market regulations provides for all existing overseas investor
classes to register now as FPIs to invest in Indian markets. What does the letter ‘P’
Denote in the term FPI?
a. Participatory b. Portfolio c. Preferred d. Priority e. Periodic
6. In which of the following countries has a powerful Congressional committee sought a
classified briefing on technologies that are currently being considered for transfer
or export to India from that country?
a. Russia b. France c. US d. UK e. None of these
7. Which of the following is NOT a Banking/Finance-related term?
a. CAR b. Bank rate c. SAR d. SLR e. None of these
8. Who among the following provides short-term credit limits to state Cooperative Banks
against pledge of Govt securities for financing seasonal agriculture operations?
a. RBI b. NABARD c. Ministry of Finance
d. Ministry of Agriculture e. None of these
9. The capital market regulator, Securities and Exchange Board of India (Sebi), raised the
Minimum bet worth criteria of asset management companies from
earlier this year?
a. 20 cr b. 30 cr c. 40 cr d. 50 cr e. 70 cr
10. Which of the following panels set up by the RBI on credit information has recommended
That a copy of their credit profile should be provided to customers for free?
a. Deepak Parekh Panel b. Shikha Sharma Panel c. Aditya Puri Panel
d. Chanda Kochhar Panel e. Pratip Chaudhuri Panel
11. What is the full form of SEFIO?
a. Systematic Fraud Investigation Office b. Securities Fraud Investigation Office
c. Server Fraud Investigation Office d. Serious Fraud Investigation Office
d. None of these
12. Industry body SIAM is associated with which of the following industries? Its recently
released data shows an increase in the sales in the industry which was facing
slowdown for a long time.
a. Software b. Automobiles c. Textiles d. Shipping e. None of these
13. The Reserve Bank of India (RBI) has simplified KYC norms for opening of bank accounts
recently. Which of the following statements is/are correct in this regard?
a. A bank account can be opened with just one address proof.
b. Customers may submit either current or permanent address proof while opening a bank
account or while undergoing periodic updation.
c. In cases where customer is not able to furnish local proof of address, the bank may the
banks take a declaration of the local address on which all correspondence will be made
by the bank with the customer.
d. All the above
e. Only (a) and (b)
14. The Govt is considering which of the following measures to help sugar mill owners in the
country?
a. Extra 4,400-cr interest-free loans to sugar mills
b. Hiking sugar import duty from 15 per cent to 100 per cent to curb cheap imports
c. Increasing ethanol blending in petrol to 10 per cent as an effort to improve the
liquidity of mills
d. All the above
e. Only (a) and (c)
15. The market regulator Sebi is likely to tweak Initial Public Offering (IPO) norms to
boost retail participation. As per the current regulation, a company has to divest at
least what per cent of its stake through the IPO if its valuation is below
a. 50 per cent b. 40 per cent c. 30 per cent
d. 25 per cent e. 15 per cent
16. Finance Minister Arun Jaitley has been appointed on the Board of Governors of Asian
Development Bank (ADB). Founded in 1966, the multilateral funding agency aims to
improve people’s lives in Asia and the Pacific and is headquartered at
a. Manila b. Kuala Lumpur c. Tokyo
d. Jakarta e. None of these
17. Who among the following has been appointed as the new revenue secretary recently?
a. RR Wattal b. Ravi Mathur c. GS Sandhu
d. Shaktikanta Das e. None of these
18. An industrial accident took place recently in SAIL’s steel plant, killing six persons
and affecting several others in which of the following cities? Possibly a composition of
deadly methane and carbon monoxide leaked from the plant, causing the fatal accident.
a. Jamshedpur b. Paradeep c. Bhilai
d. Rourkela e. None of these
19. Vishal Sikka was appointed as the chief executive officer (CEO) of which of the following
leading software exporters in India recently?
a. Wipro b. Infosys c. TCS
d. Tech Mahindra e. None of these
20. A panel of Cabinet ministers of which of the following countries recently voted
Unanimously to reject the 3.2-bn-dollar Hidro Aysen mega-project planned to be built on
Baker and Pascua rivers? The dams were to come up in the environmentally sensitive
patagonia region.
a. Bolivia b. Argentina c. Peru
d. Brazil e. Chile
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