Directions (1-10): Choose the odd sentence out of the given five sentences in each question.
- A) India’s foreign exchange reserves declined by $1.506 billion to $366.139 billion in the week to October 14, due to fall in foreign currency assets, the Reserve Bank said today.
B) In the previous week, the reserves had decreased by $4.343 billion to $367.646 billion.
C) It had touched a life-time high of $371.99 billion in the week to September 30, 2016.
D) FCAs, expressed in US dollar terms, include the effect of appreciation/depreciation of non-US currencies such as the euro, pound and the yen held in the reserves.
E) Foreign currency assets (FCAs), a major component of the overall reserves, dipped by $1.486 billion to $340.908 billion.ABCDEOption D
- A) After 12-year hiatus, government is set to revive strategic sale of state-owned companies with the Cabinet likely to consider shortly the outright sale of stake in over a dozen PSUs including the profit making ones.
B) “The strategic sale will come up before the Cabinet very shortly,” a top source said.
C) PSUs identified for strategic sale reportedly include profit-making Bharat Earth Movers and Certification Engineers International as well as loss-making Scooters India.
D) NITI Aayog has prepared a list of public sector units where the government can sell its majority stake to private companies in order to bring in greater efficiency and professionalism in functioning.
E) Based on its suggestions, the Department of Investment and Public Asset Management (DIPAM) has finalised a model of strategic disinvestment.ABCDEOption C
- A) The Centre, in collaboration with State governments, plans to introduce a ‘One India’ concept, the biggest and the most comprehensive ‘ease of doing business’ initiative so far.
B) Under the ‘one-form-one-portal’ model, aimed at attracting huge investments, the processes will be simplified to an extent where investors will need to fill only a single eform for investing and doing business anywhere in India.
C) “(In this regard), we have just begun talks with the states, and will soon hold discussions with the private sector and users of government services,” the official added.
D) Currently, firms are mandated to complete multiple forms at the Central and state levels, and it gets more complicated as each state has different requirements and regulations.
E) “We are working on what could be the world’s best single window clearance mechanism with an in-built information wizard that will help investors with the application processes,” a senior official said.ABCDEOption C
- A) Aiming to provide a fresh boost to the Centre’s Jan Aushadhi (Public Medicine) Scheme, the Ministry of Chemicals and Fertilizers is making efforts to rope in Members of Parliament (MPs) for opening new stores in their constituencies.
B) This move comes close on the heels of the Department of Pharmaceuticals (DoP) initiating talks with various state governments regarding the matter.
C) The scheme, launched in 2008 under the United Progressive Alliance (UPA) government, has not achieved its desired results so far.
D) “Minister (Ananth Kumar) has written to all MPs, asking them to lend a helping hand by ensuring that one or two Jan Aushadhi stores are opened in their constituencies,” said a source close to the Minister of State for Surface Transport and Petroleum and Chemicals, Mansukh Lal Mandaviya.
E) While introducing the budget this year, Finance Minister Arun Jaitley had announced that the government would open 3000 stores by the year-end- an ambitious target given that there are only 500 open stores at present.ABCDEOption D
- A) In his first visit to Vadodara from where he had contested Lok Sabha polls in 2014 after he became Prime Minister, Narendra Modi on Saturday inaugurated a new integrated airport terminal, country’s second green airport terminal, and also attended a social welfare camp to hand out assistive devices and aids to around 8000 specially abled persons. “I am happy that after the NDA government came to power, two airports in the country have become fully green,” Mr. Modi said while opening the new terminal which has been built at the cost of Rs 160 crore and has been designed by Delhi based Creative Group to be fully compliant to the green building norms.
B) “I am happy that after the NDA government came to power, two airports in the country have become fully green,” Mr. Modi said while opening the new terminal which has been built at the cost of Rs 160 crore and has been designed by Delhi based Creative Group to be fully compliant to the green building norms.
C) “Distributing equipment is a very small part of the programme. The larger aspect is our duty to care for our Divyang sisters and brothers,” Mr Modi said.
D) Mr Modi lauded his government’s new policy to promote regional air connectivity which will bring smaller towns and places on air route while blaming the previous governments of “lacking in vision to push and develop aviation sector in the country.”
E) After opening the new terminal, Mr Modi headed to attend a camp to distribute assistive devices to around 8000 specially abled persons as part of the government’s scheme for the welfare of persons with disabilities.ABCDEOption C
- 6.A) Andhra Bank has announced the opening of Sovereign Gold Bond Scheme 2016-17 series-III as notified by Government of India for public subscription from Monday.
B) The scheme will be open till November 2, 2016 at all its 2,853 branches across the country, the bank said.
C) The bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and charitable institutions.
D) RBI has notified a rate of interest of 2.5 per cent per annum on the initial investment based on nominal value.
E) The tenor of the bonds is 8 years with provision of premature cancellation after 5 years.ABCDEOption D
- A) Finance Ministry has called a meeting of senior management of banks on Monday to discuss the bad loans issue in specific sectors, including steel.
B) The meeting would focus on non-performing assets (NPAs) in sectors like steel, power, and infrastructure, sources said.
C) Senior officials from the steel, power and road transport ministries would also be present there.
D) These three sectors account for the bulk of gross NPAs which surged to 9.32 per cent (Rs 4.76 lakh crore) in 2015-16.
E) The meeting would be attended by CEO and Executive Directors of various public sector banks, sources said.ABCDEOption C
- A) Reports suggest that the Life Insurance Corporation of India (LIC) is planning to take over a portion of the Rs 50, 000 crore debt of Air India and convert it into low interest loans.
B) Most of the banks to which AI owes money are public banks saddled with astronomical Non Performing Assets (NPAs).
C) This according to reports is being done to reduce the interest burden on AI’s debt pile and make it profitable in the next decade.
D) LIC’s plan to convert Air India’s 10% interest loans to 7% loans would come as a breather for India’s national airline which has been battling losses and mismanagement.
E) But a closer look at the financial information of Air India reveals that involving LIC would not only amount to juggling money within the government, but could also hit public banks hard.ABCDEOption B
- A) Telecom regulator Trai has held that operators would be liable for any noncompliance to rules by third party vendors like websites and apps for issues related to bill payment and recharges.
B) In its guidelines, Trai said that as third party entities like websites and applications are non-licensed entities and are appointed by telecom service providers, operators are responsible for ensuring compliance of regulatory norms.
C) “Since Channel Partner(s) and sub Channel Partner(s) are non-licensed entities and appointed by telecom service providers (TSPs) based on mutually agreed terms and conditions, all responsibilities for ensuring compliance of terms and conditions of the license agreement and other regulatory guidelines shall remain with the TSP,” Trai said.
D) The Telecom Regulatory Authority of India (Trai) said that the agreement between operators and sub-channel partner should incorporate clauses on subscriber relations, attending subscriber grievances, recharge process and tariff updation apart from other technical requirements.
E) At present there are many mobile applications and websites like Freecharge, Mobikwik, Oxigen that facilitate mobile recharge and bill payment facilities as channel partner of telecom companies.ABCDEOption D
- A) An integrated facility will be commissioned by the Reliance Anil Dhirubhai Ambani Group and its French partner Dassault in Nagpur in the next few months for the execution of offset contracts of the just-concluded deal for 36 French fighters.
B) A significant part of the whopping Rs. 30,000 crore offsets would be executed through the joint venture, Dassault Reliance Aerospace.
C) According to industry sources, the new facility will come up in the Reliance Special Economic Zone (SEZ) in Nagpur, and it would be fully operational within the next 12 months.
D) Four French companies which have a major stake in the Rafale deal — Dassault Aviation, Thales, Safran and MBDA — will execute offsets worth about Rs. 30,000 crore as per their share.
E) The Dassault-Reliance JV will only execute a part of the offsets because some of the investments have to be done in DRDO for technology development.ABCDEOption E