GK for Banking Examinations Practice Questions part-1
Important current affairs and Gk questions for Bank exams, IBPS, SBI and all other finance industy exams
General Knowledge; Current Affairs with special reference to the Banking and Finance Industry of India for IBPS Banking , RBI, SBI and other Banking Recruitment Examinations of 2013 and 2014.If you like the post kindly give rating.
17. Which one of the following was the purpose of appointment of Rangachary committee?
[A]Taxation of software Development Centres & IT Sector
[B]Taxation of Biotechnology and Pharmacy sector
[C]Taxation of MSME sector
[D]None of the above
Answer-
Taxation of software Development Centres & IT Sector
Explanation-
Rangachary committee was appointed by PM in July 2012 to look into taxation of IT sector and the panel had submitted its report in September, 2012, suggesting parameters to identify contract R&D services provider with insignificant risk and application of profit split method
18. Which of the following best defines a floating-rate bond?
[A]A bond with a fixed interest rate and has better yield than varying interest rate bond
[B]A bond with a fixed interest rate and has lower yield than varying interest rate bond
[C]A bond with a varying interest rate and has better yield than fixed interest rate bond
[D]A bond with a varying interest rate and has lower yield than fixed interest rate bond
Answer-
A bond with a varying interest rate and has lower yield than fixed interest rate bond
Explanation-
Floating rate bonds have variable interest rate and protect investors against a rise in interest rates (which have an inverse relationship with bond prices). They also carry lower yields than fixed notes of the same maturity.
19. Why the Indirect taxes are termed regressive taxing mechanisms?
[A]They are charged at higher rates than direct taxes
[B]They are charged the same for all income groups
[C]They are charged the same for all income groups
[D]None of the above is a correct reason
Answer-
They are charged the same for all income groups
Explanation-
The indirect taxes like VAT etc are paid by everyone if they buy any product irrespective of financial conditions. Direct taxing is considered the most progressive taxing mechanisms because they justify the income levels of the people
20. The Cabinet Committee on Investments has been set-up to address which of the following___?
[A]To submit a report on the hurdles creating bottle-necks on the economy
[B]To boost big ticket investments and untangle red-tapism
[C]To fast track disinvestment in PSUs
[D]To attract foreign investment into India to attract foreign investment into India
Answer-
To boost big ticket investments and untangle red-tapism
Explanation-
The Cabinet committee on investments was set-up to clear lakhs of crores of projects with huge private investments held up in various ministries for approvals such as environmental clearance and other departmental clearance. It aims at removing the red-tapism and provides a one-stop –shop for all investment requirements and clearance.
21. Which among the following regulate the commodity markets in India?
1. RBI
2. SEBI
3. Forward Market Commission
Choose the correct option from the codes given below:
[A]Only 1 & 2
[B]Only 2 & 3
[C]Only 1 & 3
[D]Only 3
Answer-
Only 3
Explanation-
Commodity markets in India are regulated by Forward Markets Commission (FMC) headquartered at Mumbai.
22. While promoting India as an investment destination, recently India’s Finance Minister said that the “financial protectionism” by the industrial countries is an issue of concerns. Which among the following best defines the Financial Protectionism?
[A]Imposing Tariffs and other barriers to trade
[B]Providing direct and indirect subsidies to farmers
[C]Imposing barriers to inward or outward capital flows
[D]Manipulating the foreign exchange rates
Answer-
Imposing barriers to inward or outward capital flows
23. One of the headlines in the news papers recently read: "Rupee tumbled 10 paise at one-week low of 54.62". Which among the following can tumble the Rupee down?
- Sustained dollar demand from importers
- Capital outflows
- Rupee showing bearish trend in currency market
Choose the correct option from the codes given below:
[A]Only 1 & 2
[B]Only 2 & 3
[C]Only 1 & 3
[D]1, 2 & 3
Answer-
1, 2 & 3
24. Recently, India and Malta have renegotiated and signed the revised Double Taxation Avoidance Agreement (DTAA) to align with global norms and changes in domestic laws. Malta is one of the most developed countries in world with its capital at __:
[A]Valletta
[B]Cospicua
[C]Città Victoria
[D]?ejtun
Answer-
Valletta
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