Mercedes driver Lewis Hamilton on won the 2015 Formula 1 United States Grand Prix title. It was the third title for Hamilton at the Circuit of the Americas in Elroy, Texas of the USA where championship is being held annually.
In the final race, while his team-mate Nico Rosberg of Germany stood at the second position, Ferrari driver Sebastian Vettel (Germany) was at the third.
Abhishek Verma gave India a perfect Independence Day gift by clinching the gold medal in the compound men’s individual section to open their account in the Archery World Cup Stage 3 on Saturday. Having failed as a team in the bronze play-off earlier in the day, the world number 18 was at his best in the individual final as he held on to his lead to wrap up the issue 148-145 against Esmaeil Ebadi of Iran.
India’s recurve mixed pair of Deepika Kumari and Mangal Singh Champia will look to earn the country a second gold when they face their opponents from Mexico on Sunday.
Certificate of Deposit: Certificate of Deposits are negotiable receipts in bearer form which can be freely traded among investors. This is also a money market instrument, issued for a period ranging from 7 days to one year .The minimum deposit amount is Rs. 1 lakh and they are transferable by endorsement and delivery.
Adjustable-Rate Mortgages (ARMS): Also known as variable-rate mortgages. The initial interest rate is usually below that of conventional fixed-rate loans. The interest rate may change over the life of the loan as market conditions change. There is typically a maximum (or ceiling) and a minimum (or floor) defined in the loan agreement. If interest rates rise, so does the loan payment. If interest rates fall, the loan payment may as well.
Arbitrage: Buying a financial instrument in one market in order to sell the same instrument at a higher price in another market.
Bank Ombudsman: Bank Ombudsman is the authority to look into complaints against Banks in the main areas of collection of cheque / bills, issue of demand drafts, non-adherence to prescribed hours of working, failure to honour guarantee / letter of credit commitments, operations in deposit accounts and also in the areas of loans and advances where banks flout directions / instructions of RBI. This Scheme was announced in 1995 and is functioning with new guidelines from 2007. This scheme covers all scheduled banks, the RRBs and co-operative banks.
Bancassurance: Bancassurance refers to the distribution of insurance products and the insurance policies of insurance companies which may be life policies or non-life policies like home insurance – car insurance, medi-policies and others, by banks as corporate agents through their branches located in different parts of the country by charging a fee.
Anytime/Anywhere Banking: With introduction of ATMs, Tele-Banking and internet banking, customers can conduct their business anytime of the day and night. The ‘Banking Hours’ is not a constraint for transacting banking business.
Bank Ombudsman: Bank Ombudsman is the authority to look into complaints against Banks in the main areas of collection of cheque / bills, issue of demand drafts, non-adherence to prescribed hours of working, failure to honour guarantee / letter of credit commitments, operations in deposit accounts and also in the areas of loans and advances where banks flout directions / instructions of RBI. This Scheme was announced in 1995 and is functioning with new guidelines from 2007. This scheme covers all scheduled banks, the RRBs and co-operative banks.
ATM: ATMs are Automatic Teller Machines, which do the job of a teller in a bank through Computer Network. ATMs are located on the branch premises or off branch premises. ATMs are useful to dispense cash, receive cash, accept cheques, give balances in the accounts and also give mini-statements to the customers.
Basis Point: One hundredth of 1%. A measure normally used in the statement of interest rate e.g., a change from 5.75% to 5.81% is a change of 6 basis points. Bear Markets: Unfavorable markets associated with falling prices and investor pessimism.
Blue Chips: Blue chips are unsurpassed in quality and have a long and stable record of earnings and dividends. They are issued by large and well-established firms that have impeccable financial credentials.
Call Money: Call money is the borrowing or lending of funds for 1 day. Where money is borrowed or lend for period between 2 days and 14 days it is known as ‘Notice Money’.
Cheque Truncation: Cheque truncation truncates or stops the flow of cheques through the banking system. Generally truncation takes place at the collecting branch, which sends the electronic image of the cheques to the paying branch through the clearing house and stores the paper cheques with it.
Credit Rating: An assessment of the likelihood of an individual or business being able to meet its financial obligations. Credit ratings are provided by credit agencies or rating agencies to verify the financial strength of the issuer for investors. E.g. CRISIL, ICRA, S&P.
Gross Domestic product (GDP): The total of market value of the finished goods and services produced in a country in a given year. Comprising of three sectors: Agriculture, Industry and Services.
Gross National Product(GNP): The total market value of finished goods and services produced in the country in a given year, plus income of domestic residents from investments made abroad, minus income earned by foreigners abroad from the domestic market
Demat Account: Demat Account concept has revolutionized the capital market of India. When a depository company takes paper shares from an investor and converts them in electronic form through the concerned company, it is called Dematerialization of Shares. These converted Share Certificates in Electronic form are kept in a Demat Account by the Depository Company, like a bank keeps money in a deposit account. Investor can withdraw the shares or purchase more shares through this demat Account.
EFT – (Electronic Fund Transfer): EFT is a device to facilitate automatic transmission and processing of messages as well as funds from one bank branch to another bank branch and even from one branch of a bank to a branch of another bank. EFT allows transfer of funds electronically with debit and credit to relative accounts.
Electronic Commerce (E-Commerce): E-Commerce is the paperless commerce where the exchange of business takes place by Electronic means.
The history of India includes prehistoric archaeological evidence from Anatomically modern humans on Indian subcontinent, advances of civilisation to the Vedic period of the Indo-Aryan cultures, the founding of Hinduism, Buddhism and Jainism, a number of ruling dynasties throughout various geographic areas of the … Some useful MCQ for UPSC, SSC CGL-Examination..
Practice Set-1
1. Which one of the following Governor Generals was impeached by the British Parliament?
(a) Lord Curzon
(b) Warren Hastings
(c) Lord Canning
(d) William Bentick
2. What is the correct sequence of the following events?
(a) Foundation of Indian National Congress.
(b) Simon Commission
(c) Home Rule Movement
(d) Cabinet Mission
Select the correct answer using the codes given below:
(a) 1,3,2,4
(b) 3,1,4,2
(c) 1,2,4,3
(d) 1,4,3,2
3. Which of the following posts during the Delhi Sultanate was related to the Provincial Services?
(a) Qazi -ul Quzat
(b) Ariz –i Mumalik
(c) Wali
(d) Barid – i Muamlik
4. Match List-I with List – II and select the correct answer using the codes given below the Lists
List – I List – II
(a) Doctrine of Lapse 1. Lord Curzon
(b) Partitions of Bengal 2. Warren Hastings
(c) Rohilla war 3. Lord Dalhousie
(d) Subsidiary Alliance 4. Lord Wellesley.
Codes :
A B C D
(a) 4 1 2 3
(b) 3 1 2 4
(c) 4 2 1 3
(d) 3 2 1 4
5. Fatehpur Sikri symbolises
(a) Mohgul architecture
(b) Hindu and Muslim architecture
(c) Muslim and Christan architecture
(d) Hindu, Muslim and christen architectures
6. Raja Rammohan Roy was responsible for which of the following reforms?
1. Abolition of Sati
2. Abolition of child marriage
3. widow remarriage
Select the correct answer using the codes given below :
(a) 1 alone
(b) 1 and 2
(c) 1, 2 and 3
(d) 2 and 3
7. ‘Direct Actions’ was the brain child of
(a) Subhas Chandra Bose
(b) Mahatma Gandhi
(c) Mohamed Ali Jauhar
(d) Mohamed Ali Jinnah
8. Who among the following was the ‘political guru’ of Mahatma Gandhi?
(a) B.G Tilak
(b) G.K Gokhale
(c) Dadabhai Naoroji
(d) S.N. Banerjee
9. Assertion (A) : In greenhouse effect, the thick carbon dioxide layer allows sunlight to filter through but prevents heat from being re-radiated in outer space.
Reason (R) : The thick carbon dioxide layer functions like glass panels of a greenhouse or glass win-dows of a motor car
10. Assertion (A) : Salt Satyagraha was an outcome of the Nonco-operation Movement.
Reason (R) : Rajaji started the Vedaranyam March.
11. Who among the following was associated with the Hindustan Republican Associa-tion?
(a) Jogesh Chandra Chatterji
(b) Rasbehari Bose
(c) Subhash Chandra Bose
(d) Bhagwati Charan vohra
download to full practice set with Answer Click here
1.)362 × 689= ?
a) 723692
b) 249418
c) 710308
d) 719868
e) None of these
2.)√(11881 ) × √(?) = 10137
a) 8649
b) 9216
c) 8281
d) 9409
e) None of these
3) ∛804357 = ?
a) 98
b) 89
c) 96
d) 93
e) None of these
4) 64% of ? -96% of 1120 = 499.2
a) 2600
b) 2540
c) 2460
d) 2280
e) None of these
5) (64)² ÷ ∛32768 = ?
a) 128
b) 132
c ) 142
d) 104
e) None of these
6) 0.09 × 6.8 × ? = 2.142
a) 2.5
b) 4.4
c) 3.5
d) 2.4
e) None of these
7) (19)¹² × (19)² ÷ (19)³ = (19)?
a) 24
b) 8
c) 11
d) 12
e) None of these
8) 680% of ? = 290360
a) 43800
b) 42700
c) 41900
d) 42500
e) None of these
9) √(?) + 17 = √961
a) 169
b) 256
c) 225
d) 196
e) None of these
10) 123 ÷ 6 ÷ 0.8 = ?
a) 25.625
b) 23.545
c) 27.455
d) 21.365
e) None of these
11) 4.65 × ? – 25.18 =31.271
a) 9.84
b) 12.14
c) 14.16
d) 9.96
e) None of these
12) √(? ) × √3136 = 2184
a) 1521
b) 1681
c) 1444
d) 1849
e) None of these
13) (0.98 × 6.3) + (? ÷ 12) = 58.174
a) 648
b) 624
c) 576
d) 636
e) None of these
14) (25% of 120) + (40% of 220) = ?
a) 115
b)122
c) 120
d) 112
e) None of these
15) (9.3 × 7.5) ÷ (2.5 × 3.6) = ?
a) 7.75
b) 8.95
c) 6.75
d) 7.95
e) None of these
Answer Key
1. d) 2. a) 3.d) 4.c) 5.a) 6.c) 7. c) 8.b) 9.d) 10. a) 11. b) 12. a) 13. b) 14. e) 15. a)
The scheme was introduced with the following objectives:
• To resolve complaints relating to banking services and to facilitate the satisfaction or settlement of such complaints.
• Resolve disputes between a bank and its constituents as well as amongst banks, through the process of conciliation, mediation and arbitration.
All banks are covered by the scheme, including Regional Rural Banks and scheduled primary co-operative banks.
The scheme provides for Reserve Bank to appoint one or more of its officers in the rank of Chief General Manager or General Manager to be known as the banking ombudsmen to carry out the functions entrusted to them within the identified territorial limits. As on date, fifteen Banking Ombudsmen have been appointed, with their offices located mostly in state
capitals.
The Banking Ombudsman may award compensation not exceeding Rs 1 lakhs to the complainant only in the case of complaints relating to credit card operations for mental agony and harassment.
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest, 2002 (SARFAESI Act, 2002) was enacted to provide banks and financial institutions with a more effective framework to enforce the security structure underlying loans and advances given by them, and recover their dues expeditiously.
Banks and Financial Institutions can benefit from SARFAESI. The term ‘bank’ includes all banking companies, including co-operative banks. However, regional rural banks have been kept out.
‘Financial institution’ means:
• A public financial institution within the meaning of the Companies Act, 1956
• Any institution specified by the Central Government under the Recovery of Debts due to
Bank and Financial Institutions Act, 1993
• The International Finance Corporation, established under the International Finance
Corporation (Status, Immunitis and Privileges) Act, 1958
• Any other institution or non-banking financial company as defined in the Reserve Bank of
India Act, 1934, which the Central Government may specify as a financial institution for
the purposes of the Act.
The bank or financial institution which has lent money to a borrower is also called originator in the context of securitization.
The relationship with the bank gets defined by the nature of the product / service availed by the customer. Some of these are described below:
Bank as Debtor:
This is the normal relationship of a person who has an account with the bank. The moment he deposits money in the account, he becomes a creditor of the bank; the bank will be his debtor for the amount lying in his account.
Once the bank has the money, it can use the money the way it chooses. The depositor cannot direct the bank to use it in any specific manner. Similarly, the depositor cannot
ask for return of the same currency notes / coins that he deposited.
Bank as Creditor:
When a customer takes a loan from the bank, he becomes the borrower. The bank will be his creditor. The terms for the loan will be as incorporated in the loan agreement executed between the parties.
Various forms of creating the security.
Bank as Bailee:
When the customer deposits valuables or documents with the bank, the bank becomes a bailee of those items. The customer is the bailer. As provided in the Indian Contract Act, 1872, the bailer is responsible to the bailee for any losses that arise on account of the bailer’s negligence.
Bank as Agent:
When a customer deposits a cheque into his account, the bank will send it for clearing. The bank, in this role, is an agent of the customer. The customer is the principal. Similarly, the bank becomes an agent when the customer leaves various standing instructions for payments with the bank.
It is the duty of the agent to follow the instructions given by the principal. The relationship terminates either when the principal gives notice of such termination, or in the event of death, insolvency or lunacy of the principal.
Bank as Lessor:
When a customer opts for a safe deposit locker with a bank, he is effectively leasing the locker. He is a lessee, the bank is the lessor. The relationship lasts so long as the lessee keeps paying the prescribed charges. The lessor is responsible for ensuring minimum standards of security to ensure the safety of the items deposited in the locker. However, it will be liable for loss only if it is negligent in any manner. It can also insist on the procedures to be followed for using the locker.
Bank as Executor / Trustee:
Banks have their Executor and Trustee department, who can be appointed for handling the estate of the customer, after the customer’s death. The person, in his Will, would mention the bank as Executor of the Will. So long as the bank has accepted the prescribed charges from the customer, it cannot refuse to act as such. While performing this role, it has to act as a trustee of the customer’s affairs, and exercise reasonable diligence and care. Companies often appoint bankers as Trustees for their debenture-holders. In such situations, the bank has a role to protect the interest of the debenture-holders. This would normally take the form of ensuring that the security is created, payments are made as promised etc. The company may appoint different trustees for different series of debentures.
– Brazil First World Indigenous Games start.
– Carolina Marin Ace shuttler World No.1 ranking.
– Robert Mugabe won the 2015 Confucius Peace Prize given by China.
– Andhra Pradesh: Prime Minister Narendra Modi laid the foundation stone of Shri Venkateswara Mobile and Electronics-Manufacturing Hub.
– Jacques Kallis was appointed as the Head Coach of Kolkata Knight Rider.
– The deposits outstanding under the Gold Deposit Scheme will be allowed to run till maturity unless the depositors prematurely withdraw regarding directions on implementation of Gold Monetisation Scheme 2015 that were issued by RBI.
– China & Britain signed Strategic Investment Agreements for building three nuclear plants.
– Russia declared that it will permanently station a military unit in the Arctic by 2018.
– Alok Rawat first male member of the National Commission for Women (NCW) who was appointed.
– Ashwini Kumar the honorary member of the International Olympic Committee (IOC) in India died.
Ministry of Urban Development approved the first batch of state level Action Plans under Atal Mission for Rejuvenation and Urban Transformation (AMRUT). In this context, consider the following statements:
I. The State Annual Action Plans were cleared for 89 cities in the states of Andhra Pradesh, Gujarat and Rajasthan.
II. AMRUT aims at enabling water supply as per the norm and providing water supply and sewerage connections to all urban households.
