1. Sopan 2019 The Festival of Young Musicians and Dancers held in which city?
A. Jodhpur
B. Chennai
C. New Delhi
D. Hyderabad
2. The Asian Developement Bank (ADB) has bought a 14% stake in which Indian micro-financier company?
A. SKS Microfinance Ltd
B. Annapurna Finance
C. Sonata Finance Pvt Ltd
D. Asmitha Microfin Ltd
3. India-Monaco Business forum 2019 held in which city?
A. Varanasi
B. Bhuwaneshwar
D. Mumbai
4. Indian sports person Ramit Tandon, is related with which sport?
A. Badminton
B. Tennis
C. Cricket
D. Squash
5. The Ministry of Finance has announced the amalgamation of which two regional rural banksto form Tamil Nadu Grama Bank?
A. Pallavan Grama Bank and Pandyan Grama Bank
B. Pandyan Grama Bank and Prathama Bank
C. Prathama Bank and Pallavan Grama Bank
D. Prathama Bank and Narmada Jhabua Gramin Bank
6. Consider the following statements?
1. The Union Cabinet has approved the MoU between India and Norway on India-Norway Ocean Dialogue.
2. The MoU will promote cooperation in the areas of mutual interest pertaining to the developement of blue economy.
3. Norway is a global leader in the area of Blue Economy.
Which of the statements given above is/are correct?
A. 1 and 2 are correct
B. 1 and 3 are correct
C. 2 and 3 are correct
D. All of the above
7. Consider the following statements related to the Institution of Income-Tax Ombudsman
1. The Union Cabinet has approved the proposal for Abolition of Institution of Income-Tax Ombudsman and Indirect Tax Ombudsman.
2. Institution of Income-Tax Ombudsman was created in the year 2003 to deal with grievances of public related to the settlement of complaints relating to Income Tax.
Which of the above statement/statements are correct?
A. Only 1
B. only 2
C. Both 1 and 2
D. Neither 1 nor 2.
8. Consider the following statements related to the Rashtriya Kamdhenu Aayog?
1. The Union Cabinet has approved the proposal for the establishment of Rashtriya Kamdhenu Aayog for Conservation protection and developement of cows and their progeny.
2. It was announced in Budget 2019-20 by the finance minister.
9. Consider the following statements?
1. Cabinet approves unified regulator for IFSCs.
2. This is to be done through the International Financial Services Centres Authority Bill, 2019.
10. Consider the following statements related to the RBI Monetary Policy?
1. The Monetary Policy Committee announced a reduction in policy repo rate.
2. The repo rate will reduced from 6.5 per cent to 6.25 per cent with immediate effect.
ANSWERS:
Answer: 1) C
Explanation
A music and dance festival to encourage young and upcoming artists to take up traditional art forms will start here. Organised by Sahitya Kala Parishad and the Delhi government, in association with New Delhi Municipal Council (NDMC), ‘Sopan 2019’ will open with a Kathak performance on a Surdas bhajan by Minu Garu at Central Park, Rajiv Chowk here. Talking about the cultural festival, Manish Sisodia, deputy chief minister, said, “It is good to see young talents putting efforts to promote our traditional art forms like dance, music and instruments.”
Answer: 2) B
The Asian Development Bank (ADB) has bought a 14% stake in micro-financier Annapurna Finance for Rs 137 crore, reinforcing the belief that India’s microfinance sector is on course to attracting long-term funds from global lenders and investors.
ADB’s investment in the Bhubaneswar-based Annapurna is an equity expansion, while a few of the existing investors such as Oman India Joint Investment Fund (OIJIF), Oikocredit and Bamboo Finance Partners raised their holding in the MFI through secondary market deals totaling Rs 75 crore, Dibyajyoti Pattanaik, director at Annapurna Finance.
Answer: 3) C
The industry chamber FICCI organised the India-Monaco Business Forum in New Delhi. The high level delegation of Monaco was lead by Prince of Monaco, Albert II. A partnership agreement was signed between FICCI and Monaco Economic Board to strengthen the institutional relations between the countries for further increasing trade and economic relations. While addressing the Forum, Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu said that India and Monaco posses huge scope for cooperation especially in Tourism sector and Climate Change.
Answer: 4) D
Top seeded Ramit Tandon made the most of his first meeting with Egyptian Mohamed El Sherbini to win the final of the Seattle Open, a PSA challenger squash Tour event here late on Saturday night. The Indian won 11-4, 11-7, 2-11, 11-2 for his first PSA title in 2019 and fourth title overall in his career.
Answer: 5) A
As part of consolidation in the public sector lenders’ rural banking operations in Tamil Nadu, the Union finance ministry has decided to amalgamate the Pallavan Grama Bank, sponsored by Indian Bank and Pandyan Grama Bank, sponsored by Indian Overseas Bank (IOB) in to a single regional rural bank in the state. The amalgamated regional rural bank namely ‘Tamil Nadu Grama Bank’ will be under the sponsorship of Indian Bank, with its head office at Salem. The amalgamation would be effective from April 1, 2019, said Indian Bank in a statement.
Answer: 6) D
The Union Cabinet has approved the MoU between India and Norway on India-Norway Ocean Dialogue. The MoU will promote cooperation in the areas of mutual interest pertaining to the developement of blue economy. Norway is a global leader in the area of Blue Economy and has cutting-edge technologies and expertise in areas such as fisheries, hydrocarbons, renewable energy, sustainable harnessing of ocean resources and maritime transport.
The proposed MoU will contribute in:
Answer: 7) C
The Union Cabinet has approved the proposal for Abolition of Institution of Income-Tax Ombudsman and Indirect Tax Ombudsman. The approval comes in the wake of alternative complaint redressal mechanisms chosen by the public and the institution of Ombudsman could not prove to be more effective than regular existing parallel channels of grievance redressal.
Institution of Income-Tax Ombudsman was created in the year 2003 to deal with grievances of public related to the settlement of complaints relating to Income Tax. However, the Institution of Ombudsman failed to achieve its objectives. It was observed that institution of new complaints has in turn fallen to single digits. Also, taxpayers started preferring alternate methods of grievance redressal like CPGRAMS (Centralized Public Grievance Redress and Monitoring System), Aaykar Seva Kendras etc.
Answer: 8) C
The Union Cabinet has approved the proposal for the establishment of Rashtriya Kamdhenu Aayog for Conservation protection and developement of cows and their progeny. It was announced in Budget 2019-20 by the finance minister.
It will lead to the conservation, protection and developement of the cattle population in the country including the developement and conservation of indigenous breeds. It will result in increased growth of the livestock sector which is more inclusive, benefiting women, and small and marginal farmers. The Aayog will work in collaboration with Veterinary, Animal Sciences or Agriculture University or departments or organizations of the Central/State Government engaged in the task of research in the field of breeding and rearing of the cow, organic manure, biogas etc.
Answer: 9) C
The Cabinet has approved the setting up of a unified authority that would regulate all the financial services in International Financial Services Centres (IFSC), such as the Gujarat International Finance Tec-City (GIFT) in Gandhinagar. This is to be done through the International Financial Services Centres Authority Bill, 2019. Currently, the banking, capital markets and insurance sectors in IFSCs are regulated by multiple regulators, i.e. RBI, SEBI and IRDAI.
An IFSC is aimed at encouraging Indian companies that are conducting business in foreign financial centres such as London and Singapore, to bring that business to India by providing them with a global-standard regulatory and business environment. An IFSC caters to customers outside the jurisdiction of the domestic economy. Such centres deal with flows of finance, financial products and services across borders. IFSC would also complement and promote further development of financial markets in India.
Answer: 10) C
The Monetary Policy Committee headed by Reserve Bank of India Governor Shaktikanta Das, announced a reduction in policy repo rate. The repo rate will reduced from 6.5 per cent to 6.25 per cent with immediate effect. Consequently, the reverse repo rate stands adjusted to 6.0 per cent, and the marginal standing facility rate and the Bank Rate to 6.5 per cent. The bank also projected an economic growth rate of 7.4 per cent for the next fiscal, up from 7.2 per cent estimated for the current fiscal by Central Statistics Office.
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