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September 17, 2016

Banking Awareness Quiz - Set 90

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    1. NABARD on 9th August 2016 sanctioned Rs. 26.06 crore to _____________ for tackling water logging by constructing lift schemes in lowlying areas, village ponds and other allied works.
      1. AP
      2. Telangana
      3. Bihar
      4. Punjab
      5. Uttar Pradesh
    2. Korea Development Bank and _____________ signed MOU to enhance business synergies, which outlines the plan to enhance cooperation in areas including corporate finance, project finance and asset finance.
      1. SBI
      2. Bank of Maharashtra
      3. Punjab and Sind Bank
      4. Indian Bank
      5. RBL Bank 
    3. On 9 September 2016, RBI instructed banks to accept cash deposits at the counter from people declaring unaccounted wealth under the IDS. In this context, IDS stands for _____________  
      1. Income Deposit Scheme
      2. Income Disclosure Scheme
      3. Income Derivative Scheme
      4. Income Dole Scheme
      5. Income Declaration Scheme
    4. Under Income Declaration Scheme (IDS) 2016 who can declare the undisclosed income / Investment in any asset, representing undisclosed income relating to any financial year up to 2015-16?
      1. Individuals
      2. HUF
      3. Association Of Persons (AOP)
      4. Companies
      5. All of above 
    5. Declaration made under IDS scheme attract  _____________
      1. Tax @ 30% of undisclosed income.
      2. Surcharge @ 7.5% of undisclosed income.
      3. Penalty @ 7.5 % of undisclosed income.
      4. All of above make the total payment of 45% of the undisclosed income.
      5. Need not pay any tax / surcharge by the person / entity on undisclosed income. 
    6. Which of the following benefit given to the declarant who declares the undisclosed income under IDS 2016 ?
      1. No Wealth Tax on assets declared.
      2. No scrutiny or enquiry under Income-Tax Act in respect of declaration.
      3. Immunity from prosecution under Income Tax in respect of declaration.
      4. Immunity from Benami Transactions (Prohibition) Act, subject to transfer of assets by the benamidar to the real owner before 30-9-2017.
      5. All of above are the benefits avail to the declarant. 
    7. Cabinet Committee on Economic Affairs (CCEA) on 12 September 2016 approved the proposal of the Department of Consumer Affairs (DCA) on enhancing the buffer stock for pulses up to _____________  
      1. 10 lakh tonnes
      2. 25 lakh tonnes
      3. 20 lakh tonnes
      4. 30 lakh tonnes
      5. 40 lakh tonnes 
    8. Union government issued flexi-fund guide-lines that give more freedom to states in spending money under the Centrally Sponsored Schemes (CSS) to meet local developmental requirements. As per these guidelines, flexi-funds for states in CSS have been increased from the current 10 % to  _____________
      1. 25%
      2. 20%
      3. 35%
      4. 30%
      5. 50% 
    9. Flexi-funds for each CSS in the case of Union Territories increased from current 10% to _____________  
      1. 30%
      2. 40%
      3. 45%
      4. 50%
      5. 100% 
    10. Which of the following statement is not one among the guidelines relating to new flexi-fund rules for states under Centrally Sponsored Schemes (CSS)?
      1. Funds can be spent for local needs and requirements.
      2. Funds can be used for pilot innovation to improve efficiency.
      3. Prior permission of Finance commission compulsory.
      4. Funds can be used to undertake mitiga-tion or restoration activities in case of natural calamities.
      5. Flexi-fund facility is not for CSS which emanate from a legislation, like MNREGA. 
    11. Fresh guidelines for flexi-fund for CSS approved by Union Cabinet on 3 August 20016 based on the recommendation of the sub-group of Chief Ministers that was set up by _____________
      1. NITI Aayog
      2. Finance Commission
      3. Planning Commission
      4. CAG
      5. FSDC 
    12. On 12th September 2016, Union Cabinet approved the creation of the Higher Education Financing Agency (HEFA) to give a major push for creation of high quality infrastructure in premier educational institution with an authorized capital of _____________  
      1. Rs.1000 crores
      2. Rs.5000 crores
      3. Rs.10 crores
      4. Rs.500 crores
      5. Rs.2000 crores
    13. HEFA is the joint venture of identified Promoter and the Ministry of Human Resource Development (MHRD). Present HRD Minister Prakash Javadekar repre-senting to Rajyasabha from _____________  
      1. Gujarat
      2. Maharashtra
      3. Madhya Pradesh
      4. UP
      5. Rajasthan
    14. Durand Cup (football) 2016 clinched by Army Green by defeating  _____________  
      1. Sporting Clube de Goa
      2. DSK Shivajians
      3. Gangtok Himalayan SC
      4. NEROCA FC
      5. Real Kashmir FC
    15. Durand Cup founded in _____________  
      1. 1862
      2. 1916
      3. 1889
      4. 1888
      5. 1869 
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