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1.Consider the following statements about new strategic disinvestment policy and identify correct code: Statement I: Policy covers existing CPSEs, Public Sector Banks and Public Sector Insurance Companies. Statement II: In strategic sectors, there will be maximum possible presence of the public sector enterprises. Statement III: In non-strategic sectors, CPSEs will be privatised, otherwise shall be closed.
a) Statement I & II are correct
b) Statement II & III are correct
c) Statement I & III are correct
d) All the statements are correct
a) Statement I & II are correct
b) Statement II & III are correct
c) Statement I & III are correct
d) All the statements are correct
2.For senior citizens who only have pension and interest income, Budget 2021-22 proposes exemption from filing their income tax returns and provides that the paying bank will deduct the necessary tax on their income. This exemption will be available for:
a) Senior Citizens above 60 years of age
b) Senior Citizens above 65 years of age
c) Senior Citizens above 70 years of age
d) Senior Citizens above 75 years of age
a) Senior Citizens above 60 years of age
b) Senior Citizens above 65 years of age
c) Senior Citizens above 70 years of age
d) Senior Citizens above 75 years of age
3.Budget 2020-21 had increased the limit for tax audit to `5 crore for those who carry out 95% of their transactions digitally. To further incentivise digital transactions and reduce compliance burden, Budget 2021-22 proposes to increase this limit for tax audit for such persons from `5 crore to:
a) 8 crore
b) 10 crore
c) 20 crore
d) 50 crore
a) 8 crore
b) 10 crore
c) 20 crore
d) 50 crore
In respect of OPCs, Budget 2021-22 seeks to incentivize them by reducing the residency limit for an Indian citizen to set up an OPC from 182 days to:
a) 60 days
b) 90 days c) 120 days d) 150 days
a) 60 days
b) 90 days c) 120 days d) 150 days
Anonymous Quiz
13%
a
31%
b
43%
c
13%
d
Which is/are true?
1. Deposit Insurance and Credit Guarantee Corporation is a wholly owned subsidiary of Reserve Bank of India.
2. Budget 2021-22 talks about moving amendments to DICGC Act to streamline the provisions, so that if a bank is temporarily unable to fulfil its obligations, the depositors of such a bank can get easy and time- bound access to their deposits to the extent of the deposit insurance cover.
a) 1 only
b) 2 only
c) Both1and2
d) None of the above
1. Deposit Insurance and Credit Guarantee Corporation is a wholly owned subsidiary of Reserve Bank of India.
2. Budget 2021-22 talks about moving amendments to DICGC Act to streamline the provisions, so that if a bank is temporarily unable to fulfil its obligations, the depositors of such a bank can get easy and time- bound access to their deposits to the extent of the deposit insurance cover.
a) 1 only
b) 2 only
c) Both1and2
d) None of the above
Budget 2021-22 proposes to amend the Insurance Act, 1938 to increase the permissible FDI limit from 49% to:
a) 51%
b) 65% c) 74% d) 100%
a) 51%
b) 65% c) 74% d) 100%
Anonymous Quiz
29%
a
22%
b
37%
c
12%
d
Towards investor protection, Budget 2021-22 proposes to introduce which of the following as a right of all financial investors across all financial products:
a) investor circular
b) investor charter c) investor folio d) Investor handbook
a) investor circular
b) investor charter c) investor folio d) Investor handbook
Anonymous Quiz
19%
a
27%
b
40%
c
14%
d
In the budget of 2018-19, Government had announced its intent to establish a system of regulated gold exchanges in the country. Budget 2021-22 appoints which of the following agencies to regulate such agencies?
a) SEBI
b) RBI c) MCA d) PFRDA
a) SEBI
b) RBI c) MCA d) PFRDA
Anonymous Quiz
37%
a
34%
b
13%
c
16%
d
Budget 2021-22 seeks to consolidate the provisions of which of the following laws into a rationalized single Securities Markets Code?
1. SEBI Act, 1992
2. Securities Contracts (Regulation) Act, 1956 3. Reserve Bank of India Act, 1934
1. SEBI Act, 1992
2. Securities Contracts (Regulation) Act, 1956 3. Reserve Bank of India Act, 1934
Anonymous Quiz
45%
1 & 2
20%
2 & 3
13%
1&3
22%
All
Budget 2021-22 aims to give a further boost to the non-conventional energy sector. Which of the following is not part of non-conventional energy sector?
a) Wind Energy
b) Solar Energy c) Biomass d) Coal
a) Wind Energy
b) Solar Energy c) Biomass d) Coal
Anonymous Quiz
15%
a
23%
b
20%
c
42%
d
Pick the odd one out a) Section 139(6)
b) Section 139 (1) c) Section 139(8) d) Section 139(10)
b) Section 139 (1) c) Section 139(8) d) Section 139(10)
Anonymous Quiz
16%
a
26%
b
28%
c
29%
d
Which of the following is not IT related risk a) Unauthorized access to data
b) Unauthorized changes to system of program c) Sampling Risk
d) Lack of adequate segregation of duties
b) Unauthorized changes to system of program c) Sampling Risk
d) Lack of adequate segregation of duties
Anonymous Quiz
8%
a
13%
b
41%
c
38%
d
In case of banking companies, Accounts overdue between 31 to 60 days, are classified as a) SMA 0
b) SMA 1
c) SMA 2 d) None of these
b) SMA 1
c) SMA 2 d) None of these
Anonymous Quiz
22%
a
43%
b
20%
c
14%
d
In case of classification of advance as doubtful assets, provision is required by the bank for unsecured portion
a) 100% b) 75% c) 60% d) 50%
a) 100% b) 75% c) 60% d) 50%
Anonymous Quiz
22%
a
35%
b
28%
c
15%
d