Union Power Ministry did not approve of the gas price pooling mechanism within the power sector

as proposed by the Ministry of Petroleum and Natural Gas. With reference to the statement which of the following facts are not true? 2. The Power Ministry deemed the pooling price mechanism with 7 mmscmd of additional RLNG to be non-workable 3. As per the Power Ministry the pool proposed to be formed could only envisage 20-25 per cent of RLNG with 75-80 per cent of domestic gas 4. Petroleum Ministry specifically stated that no new power plants will be considered for gas allocation till 2019-20 5. Until 2013-14, only around 7 mmscmd of RLNG is expected to be imported due to infrastructure constraints a. Only 1 b. 2 & 3 c. Only 3 d. Only 2
1. Answer: (c) 2. Union government on 23 March 2012 reduced the import tariff value of which

metal from USD 573 per 10 grams to USD 530 per 10 grams? a. Gold b. Silver c. Copper d. Iron
Answer: (a) 3. The empowered group of ministers (EGoM) on 28 March 2012 fixed the issue

price for the National Buildings Construction Corporation's public offer at what amount per share? a. Rs 100 per share b. Rs 106 per share c. Rs 110 per share d. Rs 115 per share
Answer: (b) 4. As per the data on the core industries released on 29 March 2012, eight core

infrastructure industries registered a robust growth in output in February 2012. What was the growth recorded in February 2012? a. 6.8 % b. 7.5% c. 8.2% d. 9%
Answer: (a) 5. Which body notified in March 2012 that premium rates for motor third party

liability only cover will undergo an upward revision beginning 1 April 2012? a. CII b. SEBI c. IRDA d. FICCI
Answer: (c) 6. Following RBI's decision to hike bank rate, the Food Ministry increased the

interest rate on loans provided to sugar factories from the Sugar Development Fund (SDF) to what per cent from the earlier 4% from 14 February 2012? a. 7% b. 7.5% c. 8% d. 8.8%
Answer: (b)

According to data released by the government on 19 March 2012, retail inflation stood at what per cent in February 2012 as a result of higher prices of protein based items, edible oil products and manufactured goods? a. 8.83% b. 8% c. 7.79% d. 7.%
1. Answer: (a)

Finance ministry concerned over the steep rise in bad loans, set up a committee to suggest sector-specific mechanisms to address rising issue. With respect to the statement which of the following statement is not true? 1. The ministry decided to set up the committee after rating agency Moodys
2.

downgraded the Union Bank of India one notch on 19 March 2012 due to its high level of troubled assets and low provisions for coverage 2. The committee will have representation from the finance ministry, the Reserve Bank of India and some banks. 3. Finance Minister in Budget 2012-13 allowed $1-billion external commercial borrowing (ECB) for the airline industry for one year, and allowed foreign debt to part-finance rupee debt taken by power companies and also for affordable housing. 4. Rise in bad loans affected farm sector lending as well. In November 2010, the share of farm loans was 13.10%, and dropped to 9.18% in November 2011 a. 1 & 3 b. Only 3 c. Only 4 d. Only 1
Answer: (c)

Union Railway Minister Mukul Roy rolled back the railway fare hike as proposed by Dinesh Trivedi in the first Union Rail Budget 2012-13 presented on 14 March 2012. Which of the following statement is not true with respect to the roll back? 1. Roy withdrew the hike for second class suburban and non-suburban, and sleeper class travel fare by 2 paise, 3 paise and 5 paise per km 2. All railway reform measures suggested by Trivedi such as setting up of an independent tariff regulator, restructuring of Railway Board on professional lines, and creation of posts of Member PPP and Member Safety was also ignored 3. Roy's budget paved the way for the cash-strapped railways to earn a mere Rs 450 crore from increased passenger fares instead of Rs 1000 crore that Trivedi budgeted for 4. Following the rollback proposed by Roy the railways can now generate only Rs 1000 crore more. a. 2 & 4 b. Only 3 c. 1 & 4 d. Only 4
3. Answer: (b)

According to comptroller and auditor generals draft report titled Performance Audit Of Coal Block Allocations, the government lost what amount of money by not auctioning coal blocks between 2004 and 2009? a. Rs 10 lakh crore b. Rs 8.7 lakh crore c. Rs 7.75 lakh crore d. Rs 10.67 lakh crore
4. Answer: (d)

Union government raised interest rates on post office-operated small savings like Monthly Income Scheme (MIS) and Public Provident Fund (PPF) by what per cent in March 2012? a. O.5% b. 1.1% c. O.75% d. 1.75%
5. Answer: (a)

Report of the probe by the income-tax department into the allegations that relatives of former chief justice had amassed huge wealth during his tenure was submitted on 12 March 2012 to the Supreme Court. Identify the CJI in question. a. KG Balakrishnan b. R.C. Lahoti c. G.B Pattanaik d. B.N. Kripal
1. Answer: (a)

Union Rural Development Minister Jairam Ramesh during his tour of Maharashtra's Satara district announced on 11 March 2012 a national award for sanitation and water in the name of which of the following Maharashtrian saints? a. Bhaktha Pundarikar b. Sant Gadge Baba c. Sant Yoga Paramananda d. Bhaktha Goma Bai
2.

Answer: (b)

The Chief Election Commissioner of India, on 17 march 2012 lead a delegation to Amman in response to an invitation by the Prime Minister of Jordan, to explore modalities of supporting Jordans electoral process against the backdrop of political reforms. Who is the Chief Election Commissioner of India? a. Montek Singh Ahluwaliab. S M Krishna c. Dr. S. Y. Quraishi d. Dr. Manmohan Singh
3. Answer: (c)

Defence Minister AK Antony inaugurated the 36th DRDO Directors Conference on 19 March 2012. What was the theme of the conference? a. Self-Reliance Strategy in Globalised World b. World Disarmament Strategy c. Emerging War Scenarios and Strategies d. Information Warfare / Electronic Warfare
4. Answer: (a)

Akali Dal chief Parkash Singh Badal, sworn in as the chief minister of Punjab on 14 March 2012. Badal became the chief minister of the state for _ _ _ _ _ _ _ a. Fourth time b. Second time c. Third time d. Fifth time
5. Answer: (d) 1. Consider the following statements and using the code given below identify the

personality with whom these statements are associated 1. He the CEO of Mahindra Satyam 2. He is to be appointed as the CEO of Mahindra Satyam-Tech Mahindra 3. He was instrumental in recreating the image of fraud-hit-firm and giving it a new lease of life Satyam 4. In 2007, he was nominated for the Entrepreneur of the Year Award bestowed by Ernst & Young. (a) AM Naik (b) CP Gurnani (c) Shiv Nadar (d) Anand Mahindra
Answer: (c) 2. Which of the following car company on 23 March 2012 hiked the price of its cars

by 2.2 5.1 per cent (a) Skoda India (b)

Answer: (a)

Volkswagen India (c)

Tata Motores (d)

Hyundai

3. Indigo Manza is the car manufactured by _ _ _ _ _ _

(a)

Tata Motors (b)

Honda Motors (c)

Hyundai Motors (d)

Nissan Motors

Answer: (a) 4. Which of the following banks on 20 March 2012, launched its new card product

named Sapphiro (a) HDFC (b) State Bank of India (c)

Answer: (a)

Kotak Mahindra (d)

ICICI

5. Which of the following companies on 12 March 2012 unveiled Indias first CDMA

network technology driven tablet computers (a) Airtel (b) Dell (c) Reliance Communications (d)
Answer: (c) 1.

Idea Cellular

Consider the following statements using the code given below identify the personality with whom these statements are associated 2. He has recently been appointed as the Chairman of Mindtree Limited

3. He is also the co-founder of Mindtree limited 4. He has replaced Ashok Soota as the Chairman of Mindtree Limited 5. He has also served as the Vice Chaiman of Mindtree (a) Subroto Bagchi (b) Vivek Hooda (c) Ashok Malik (d) Pradeep Rungta
Answer: (a) 2. Which one of the following statements is wrong

(a) Varun Berry resigned from the Pepsi Co India on 29 February 2012 (b) He was the Chief Executive Officer of PepsiCo India Food (c) He joined the company in 2006 (d) As the CEO of PepsiCo India Foods, he promoted brands like Lays, Quaker, Kurkure and Lehar
Answer: (c) 3. Who has been appointed the new Managing Director of Hyundai India?

(a)

Bo Shin Seo (b)

Andrew Mark

(c)

Anil Aggarwal (d)

Anand Mahindra

Answer: (a) 4. Company Law Board on 1 March 2012, returned the petitions of

(a)

Telenor and Unitech (b)

Reliance Telecom (c)

Etisalat DB (d)

STel

Answer: (a) 5. Which of the following public sector bank has appointed Madhukant Girdharlal

Sanghvi as its new Chairman (a) Bank of Baroda (b) Allahabad Bank (c) Syndicate Bank

State Bank of Maharashtra (d)

Answer: (d) 1. Consider the following statements and using the code given below identify the

personality with whom these statements are associated 1. He has recently joined the Hindustan Aeronautics Limited as its Chairman 2. He is one of the few outsiders to head HAL 3. He started his career with ONGC in 1976 4. He has also served as the head of Pawan Hans Limited (a) RK Sharma (b) RK Tyagi (c) AM Naik (d) Pratip Chaudhury
Answer: (b) 2. Which of the following Indian company has formed a joint venture with South

African firm Exxaro (a) Reliance Industries (b)

Answer: (c)

Essar (c)

Tata Power (d)

Vodafone India

3. Who has been appointed the new Managing Director of Hyundai India?

(a)

Bo Shin Seo (b)

Andrew Mark

(c)

Anil Aggarwal (d)

Anand Mahindra

Answer: (a) 4. Admax, South Asias largest digital media network was acquired by which Indian

company (a) Komli Media (b)

Answer: (a)

Mindtree (c)

Tata Teleservices (d)

Google India

5. James Murdoch, who on 29 February 2012 stepped down as Executive Chairman

of News International is son of (a) Rupert Grint (b) Steve Murdoch (c) Mark Rupert
Answer: (d)

(d) Rupert Murdoch

According to data released by the government on 19 March 2012, retail inflation stood at what per cent in February 2012 as a result of higher prices of protein based items, edible oil products and manufactured goods? a. 8.83% b. 7.74% c. 7% d. 6.9%
1. Answer: (a)

The Union Finance Minister (FM) Pranab Mukherjee tabled the Union Budget in the Parliament of India on 16 March 2012 for the fiscal year 2012-13. The total expenditure for 2012-13 is estimated what amount? a. Rs 1400025 crore b. Rs 1490925 crore c. Rs 1451033 crore d. Rs 1444264 crore
2. Answer: (b)

In the Economic Survey tabled by the Union Finance Minister Pranab Mukherjee on 15 March 2012, Indian economy was estimated to grow by what per cent in 2011-12 mainly due to weakening industrial growth? a. 6.5% b. 6% c. 5.2% d. 6.9%
3. Answer: (d)

The Union Railway Budget 2012-13 was presented in the Lok Sabha on 14 March 2012 by Union Railway Minister Dinesh Trivedi. Which of the following facts related to the budget are not true? 1. The total union budget outlay for 2012-13 stood at Rs 60100 crore. 2. The fares were raised in the budget. The fares were raised 5 paise per km for suburban and ordinary second class. Fares for mail express second class was raised by only 2 paise per km 3. Union Railway budget 2012-13 proposed to allocate about Rs 4410 crore to capacity augmentation works 4. The Union railway proposed to electrify 6500 route kilometers during the 12th Plan period. This would include electrification of Udhampur-Srinagar-Baramulla line and hence provide pollution free traction to the pristine Kashmir Valley 5. Union railway Minister proposed to raise the allocation under passenger amenities from Rs 762 crore in 2011-12 to Rs 1102 crore in 2012-13 a. 3 & 5 b. Only 4 c. Only 2 d. 3 & 4
4. Answer: (c)

Union Finance Minister Pranab Mukharjee presented the annual budget for the fiscal year 2012-13 in the parliament on 16 March 2012. The Union Minister of Finance came up with an increased budgetary allocation for various sectors including agriculture, rural development, defence etc. Which of the statements are not true with respect to the budgetary allocations? 1. Budgetary allocation for agriculture and allied activities 2012-13 increased by 16%. 9217 crore rupees allocated for Rashtriya Krishi Vikas Yojana 2. 20,000 crore rupees allocated for Rural Infrastructure Development Fund 3. Sarva Siksha Abhiyan-Right to Education- 25555 crore rupees 4. 193407 crore rupees aallocated for Defence services including 79579crore rupees for capital expenditure 5. 20822 crore rupees National Rural Health Mission a. 1 & 5 b. Only 1 c. 2 & 5 d. Only 4
5. Answer: (b) 1. According to data released by the ministry of commerce and industry on 28

February 2012, output of eight core segments that comprise the manufacturing sector dipped to 0.5% in January 2012, marking the slowest growth in three months. What is the total weight of the eight core segments in the index for

industrial production (IIP)? a. 42% b. 37.9% c. 53% d.

Answer: (b) 2.

51.4%

The union government decided to boost public spending in the health sector to what per cent of GDP from the current 1.4 per cent over five years (12th Five Year Plan period begining 2012)? a. 2.5% b. 3% c. 3.33 d. 4.5%
Answer: (a)

As per the data released by the Central Statistical organisation (CSO) on 29 February 2012, Indias economic growth rate dipped to what percent in the third quarter (october-december ) of 2011-12 due to poor performance of the manufacturing, mining and farm sectors? a. 5.5% b. 3.2% c. 6.1% d. 6.6%
3. Answer: (c)

As per the data released by the Controller General of Accounts on 29 February 2012, fiscal deficit was 105 per cent of the total annual target in the April-January period of 2011-12. What did the deficit stand at? a. Rs 4 lakh crore b. Rs 3.33 lakh crore c. Rs 5.21 lakh crore d. Rs 4.34 lakh crore
4. Answer: (d)

Consider the following statements and using the code given below identify the personality with whom these statements are associated 2. He is the Chairman of HDFC 3. He has been given the Ernst & Young Lifetime Achievement Award 2011 4. He is one of the pioneer in the Housing Finance in the country 5. He is on the board of Castrol India Limited (a) Deepak Parekh (b) Rahul Bhatia (c) Ratan Tata (d) Analjeet Singh
1. Answer: (a) 2. Rahul Bhatia, who was chosen for Ernst & Young Entrepreneur of the Year

Award is the Managing Director of (a) Qualcomm Communications (b) InterGlobe Enterprises
Answer: (d)

Jet Airways (c)

Vodafone (d)

3. Etisalat Which has initiated the legal proceeding against the promoters of Swan

Telecom, its joint venture partner in India, is a (a) Baharain Based Company (b) UAE Based Company (c) Company (d) Russia Based Company
Answer: (b)

Australia Based

4. The Competition Commission of India, under the Competition Act, 2002of

Parliament, has been empowered to look into (a) high voltage merger and acquisition deals (b) market activities (c) security market tradings (d) client base of different companies
Answer: (a) 5. Worlds largest two wheeler manufacturer Hero MotoCorp on 22 February 2012

inked a pact with Erik Buell Racing [EBR]. EBR is an (a) USA based company (b) UAE based company (c)

Argentina based

company (d)

UK based company

Answer: (a) 1. Cabinet Committee for Economic Affairs approved the National Dairy

Development Boards ambitious National Dairy Plan for the 12th Five-Year Plan to be initiated in 2012. Which of the following facts with regard to the statement is not true? 2. The project is aimed at boosting milk production using scientific breeding and feeding programmes covering about 2.7 million milch animals in 40000 villages 3. According to the National Dairy Development Board, the demand for milk is likely to be about 150 million tonne by 2016-17 and 200-210 million tonne by 2021-22. India was the third largest milk producing nation in 2010-11 with a production of 100.2 million tonne. 4. Cooperatives currently procure about 16% of the national marketable milk surplus covering around 21% of the countrys villages and 18% of rural milk producing households 5. The cooperative sector is needed to achieve a procurement share of at least 20% of the marketable milk surplus by 2016-17 so as to retain an overall 50% share of the marketable surplus handled by the organised sector a. 1 & 3 b. Only 3 c. Only 2 d. 3 & 4
Answer: (c) 2. Reserve Bank of India (RBI) on13 February 2012 changed the bank

rate, a medium-term signal rate after nine years with the objective to realign it with the marginal standing facility (MSF) rate as a one-time technical adjustment to link it with the main policy repo rate. What does the changed bank rate stand stand at? a. 9.5% b. 8.3% c. 10.1% d. 8%
Answer: (a) 3. As per the first nationwide retail inflation data released by the Centre of

Statistical Office on 21 February 2012, inflation based on the all India Consumer Price Index stood at what per cent in January 2012? a. 6.6% b. 7.65 c. 8.32% d. 5.50%
Answer: (b) 4. The Prime Minister's Economic Advisory Panel (PMEAC) on 22 February 2012

projected 7.5 - 8 per cent growth rate for the fiscal 2012-13. Which of the following facts are true with respect to the above statement? 1. The economy recorded a growth rate of 8.4 per cent in 2010-11, which according to the CSO estimates is expected to moderate to 6.7 per cent in the current fiscal 2011-12 2. Inflation was projected to moderate to 6.5% by March 2012 and 5-6 per cent in 2012-13. 3. The manufacturing sector was projected to grow by 4.8 percent while construction segment is expected to expand by 5.3 percent. 4. Projected Gross Domestic Product (GDP) growth for 2012 is substantially down from the budgetary target of around nine percent, and 8.4 percent expansion registered in 201

a. b. c. d.
5.

Only 4 Only 1 Only 2 1, 2 & 4

Answer: (d)

Reserve Bank of India (RBI) panel on priority sector lending on 21 February 2012 proposed increment in the target (priority sector) for foreign banks to what per cent of net bank credit from the current level of 32 per cent with sub-targets of 15 per cent for exports and 15 per cent for the MSE sector? a. 53% b. 40% c. 46% d. 39%
Answer: (b) 1. Consider the following statements and using the code given below identify the

personality with whom these statements are associated 1. He was the founder of Max Telecom 2. He is the founder and Chairman of Max India 3. He has been appointed the Non-Executive Chairman of Vodafone India 4. He is a veteran of Telecom Industry (a). Deepak Parekh (b). Sunil Bharati Mittal (c). KP Singh (d). Analjeet Singh
Answer: (d) 2. Which of the following Indian Telecom company on 16 February 2012

got the

RBI nod for FCCB redemption? (a). Reliance Telecom (b). Uninor (c). Airtel (d). Vodafone
Answer: (a) 3. Cognizant which on 13 February 2012 inked a 5-year deal with Future Group is a

(a). (b). (c). (d).

Logistic Company Aviation Company Online Retail Company Technology Solution Company

Answer: (d) 4. Kintetsu World Express of Japan and Gati on 13 February 2012 entered into a

Joint (a). (b). (c). (d).

Venture of which of the following sector? Electronic Equipments Supply Chain Single Brand Retail Technology Solution

Answer: (b) 5. Legrand, the French electronic and digital equipments company on 9 February

2012 acquired the UPS business of which of the following Indian brand? (a). Luminous (b). Onida

(c). (d).

Numeric Power Invertabular

Answer: (c)

Taking the Economy Current Affairs Quiz will test as well as enhance your knowledge on economy related issues. Moreover the Economy Current Affairs Quiz for February 2012 will help you in the preparation for different competitive examination like that of Bank PO, MBA, NABARD, RBI, Railway, SSC, Civil Services Exam etc.
There were as many as 1359 foreigners, who availed themselves of the Visa on Arrival scheme in January compared with 790 in January 2011. What was the per centage growth recorded in number of foreigners availing Visa on Arrival (VoA) scheme in January 2012? a. 70% b. 72% c. 75% d. 82% Answer: (b)
1.

As per the provisional figures of exports released on 9 February 2012, Indias exports in January 2012 rose to what per cent to $25.4 billion? a. 10.1% b. 7% c. 12.32% d. 8.3% Answer: (a)
2.

Reserve Bank of India (RBI) on 14 February 2012, issued the Draft Circular for Deployment of White Label Automated Teller Machines (WLAs) from non-bank entities. Which of the following facts related to this statement is/are not true? 1. The WLA operator can choose the location of the WLA. However, it will have to adhere to annual targets and the ratio of WLA between Tier I &II and Tier III-VI centres that may be stipulated by the RBI. 2. Non-bank entities proposing to set up WLAs have to apply to the RBI seeking authorisation under the Payment and Settlement Systems Act 2007
3.

3. The non-banking entities should have a minimum net worth of Rs. 1000 crore at the time of making the application and on a continuing basis after issue of the requisite authorisation. 4. Being non-bank owned ATMs, the guidelines on five free transactions in a month for using other bank ATMs will not be applicable for transactions made on the WLAs. 5. The WLA operator will have to declare one Sponsor Bank, which will serve as the Settlement Bank for the settlement of all the service transactions at the WLAs. a. 2 & 5 b. Only 1 c. Only 3 d. Only 5 Answer: (c) Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee on 15 February 2012 approved the auction route for selling 5 per cent stake in state-run oil major? a. IOC b. ONGC c. HPCL d. BPCL Answer: (b)
4.

As per official data released on 14 February 2012, headline inflation eased to a 26-month low in January 2012 from 7.47 per cent in December 2011 on the back of further fall in vegetable prices. What did the headline inflation stand at in January 2012? a. 6.55% b. 5.33% c. 5.75% d. 7.1% Answer: (a)
5.

Market regulator, Securities and Exchange Board of India (SEBI) on 28 January 2012 decided to enhance the minimum investment amount per client managed by portfolio managers. Which of the following facts are not true with respect to the above statement? 2. SEBI decided to enhance the minimum investment amount per client managed by portfolio managers to Rs.25 lakh from Rs.5 lakh 3. insurance companies and mutual funds, which are broad-based investment vehicles representing the interests of the public at large to be included in the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations 4. As per the current norm, SEBI (ICDR) Regulations preclude companies from issuing preferential allotment to entities which have sold any of their holdings during the six months prior to the relevant date 5. SEBI approved changes in the SEBI (Mutual Fund) Regulations, 1996, which ask the asset management companies (AMCs) to ensure a fair treatment to all investors. a. Only 1 b. Only 2 c. Only 3 d. Only 4 Answer: (b)
1. 2. The Union government in January 2012 decided to subscribe to preferential

equity shares issued by which of the two public sector banks? a. SBI & PNB b. PNB & Union Bank c. SBI & UCO d. Canara Bank

Bank of Baroda &

Answer: (a) 3. According to the data released by the Commerce and Industry Ministry on 30

January 2012, the growth rate of eight core industries slowed down to what per cent in December 2011 from 6.3 per cent in December 2010? a. 2.5% b. 3.1 % c. 4% d. 5.2% Answer: (b)
4. The apex decision-making body of the communications ministry, the Telecom

Commission decided to allow mobile phone companies to share spectrum. Identify the statement which is incorrect. 1. The Commission has however limited this facility to 3G airwaves alone 2. Only those operators that have airwaves in a particular region can share it. Spectrum can be shared only between two spectrum holders

3. Two companies can share airwaves only if their combined holdings do not exceed the limits prescribed in the M&A norms 4. Spectrum sharing deals will also have to be renewed every five years a. Only 4 b. Only 2 c. Only 1 d. 2 & 3 Answer: (c) The Union government on 31 January 2012 revised the economic growth rate for 2010-2011 financial year to what percent in comparison to the previous estimate of 8.5 percent? a. 8% b. 8.4% c. 7.5% d. 7% Answer: (b) 1. Centre for Monitoring Indian Economy (CMIE) estimated Corporate Indias sales to grow by what per cent in 2011-12? a. 21.6% b. 20.8% c. 22 d. 23.7% Answer: (a)
5.

According to the report by Gems and Jewellery Export Promotion Council (GJEPC) released in January 2012, gems and jewellery exports fell into the negative zone to $3 billion in December 2011. What per cent fall did it register in the month in question? a. 10.33% b. 12.17% c. 13.33% d. 15% Answer: (d)
2.

Reserve Bank of India (RBI) on 24 January 2012 cut the cash reserve ratio (CRR) by 50 basis point. The current CRR stands at what percent? a. 5% b. 5.5% c. 6% d. 6.5% Answer: (b)
3.

The Reserve Bank of India on 24 January 2012 also kept the repo rate unchanged for the second consecutive time after raising it 13 times between March 2010 and October 2011. What is the present repo rate? a. 8% b. 7.5% c. 8.5% d. 9% Answer: (c)
4.

The poor performance of National Pension System, or NPS led the Pension Fund Regulatory and Development Authority (PFRDA) to change the incentive structure for the distributors. Which of the following statements in this regard is/are not true? 1. The pension regulator on the basis of the recommendation of the G.N. Bajpai committee constituted by PFRDA to review NPS, fixed the incentive at 0.25% of the subscription amount 2. As per PFRDAs measures announceds, a distributor will get a flat Rs 50 on initial subscription and 0.05% of the initial subscription amount 3. Every year on subsequent investments, the point of presence will be entitled to 0.25% of that amount. 4. The minimum that a point of presence can charge is Rs 20 and the maximum Rs 25000. a. Only 1 b. Only 2 c. Only 3 d. Only 4 Answer: (b)
5.

As per the Index of Industrial Production (IIP) data, industrial production bounced back with a growth of what per cent in November 2011, marking a fivemonth high in a reversal from the negative trend witnessed in October 2011? a. 5.9% b. 6.5% c. 7% d. 8.2% Answer: (a)
1.

India on 13 January 2012 extended for how many years an anti-dumping duty on import of four Chinese products like nylon filament yarn, Saccharin, cellophane transparent film etc? a. 3 years b. 5 years c. 10 years d. 12 years
2. Answer: (b)

Reserve Bank of India (RBI) on 13 January 2012 issued guidelines on compensation of wholetime directors, chief executive officers and other risk takers in private and foreign banks. Which of the following facts regarding the above statement is/are not true. 1. The central banks directions are aimed at preventing greed from destabilising the institution. 2. The guiderlines include provisions to clawback pay if transactions fail years after origination 3. The norms provided also include capping the variable component of the compensation at 48% of the fixed pay in a year 4. As per the guidelines issued, banks are permitted to exclude the Employees Stock Option Plan from variable pay a. Only 2 b. Only 4 c. Only 3 d. 2 & 4 Answer: (c)
3.

Which of the following bodies unveiled rules for direct investment in stocks by foreign investors, including individuals to put curbs on opaque structures to prevent routing of funds by resident Indians? a. IRDA b. FICCI c. CCI d. SEBI Answer: (d)
4.

As per the Wholesale Price Index, published by the government on 16 January 2012, Reduced food prices caused the inflation to dip to a year low at what per cent in December 2011? a. 7.47% b. 7.65% c. 6.33% d. 5.41% Answer: (a) 1. Foreign direct investment (FDI) into India went up by what per cent to $2.53 billion in November 2011, indicating an improvement in investor sentiment? a. 56% b. 49% c. 33% d. 26% Answer: (a)
5.

As per the Forward Markets Commission data released on 9 January 2012 that the turnover of the 21 commodity exchanges in India increased by 66% to what amount till December 2011? a. Rs 123 lakh crore b. Rs 137.22 lakh crore c. Rs 100.57 lakh crore d. Rs 93 lakh crore Answer: (b)
2.

Indirect tax collections increased by what per cent to Rs 285787 crore during April-December 2011 driven by an increase in service tax mop-up? a. 15% b. 14.56% c. 16.1% d. 16.33% Answer: (c)
3.

The Directorate General of Foreign Trade (DGFT) notified that the Commerce Ministry on on 11 January 2012 lowered the minimum export price of onions by $100 a tonne to boost exports. What is the changed minimum export price of onion? a. $200 a tonne b. $250 a tonne c. $300 a tonne d. $150 a tonne
4. Answer: (d)

Prime Minister's Office on 11 January 2012 directed cash-rich public sector undertakings (PSUs) to invest around Rs.1.76 lakh crore to act as a stimulus in the next fiscal 2012-13. What is the amount to be invested domestically? a. Rs.1.41 lakh crore b. Rs 1.57 lakh crore c. Rs 2.50 lakh crore d. Rs 3.19 lakh crore Answer: (a) 1. Union government raised the ad valorem duty (export duty) on iron ore exports to what per cent from 20 per cent? a. 30% b. 33% c. 41% d. 43% Answer: (a)
5. 2.

As per the to Commerce Ministry data released on 2 January 2012, Indias

exports recorded their slowest pace of growth in two years in November 2011. What was the per centage of growth recorded? a. 4.2% b. 3.8% c. 2.2% d. 0.94% Answer: (b) Union government on 3 January 2012 approved Reliance Industries' (RIL) investment plan for developing four satellite fields in the flagging KG-D6 block. What was the proposed sum to be invested for developing the satellites? a. $1.500 billion b. $1.692 billion c. $1.529 billion d. $1.375 billion
3. Answer: (c)

The capital market regulator SEBI on 3 January 2012 allowed auctioning of securities through stock exchanges and introduced a new method for institutional placement of stocks. Which of the following facts related to the above statement is/are not true? 1. Under the institutional placement programme (IPP), shares can be sold only to qualified institutional buyers. 2. There shall be at least 25 allottees in every IPP issuance. No single investor shall receive allotment for more than 25% of the offer size 3. The IPP method can be used to increase public holding by 10% and could be offered to only qualified institutional buyers with 25% being reserved for mutual funds and insurance companies 4. Under the IPP, companies will have to announce the ratio of buy-back, as is done in the case of rights issues and fix a record date for determination of entitlements as per shareholding on record date a. Only 1 b. Only 3 c. Only 2 d. Only 4 Answer: (c)
4.

What is the Finace Ministrys decision on the rates applicable on small savings instruments schemes that would be announced on April 1 each year? a. rate would remain valid till the maturity of the scheme b. rate would change in the first qurter of that respective year c. rates would change depending on different maturity period d. rates would remainvalid for six months post the maturity
5. Answer: (a)

Reserve Bank of India deregulated non-resident external (NRE) deposits on 16 December 2011 allowing banks to offer higher interest rates to dollardenominated accounts. Which of the following facts related to the above statement is/are not true? 2. Reserve Bank freed the rates on non-resident external accounts, offering interest as high as 9.6% per annum 3. Following RBIs deregulation five Indian banks, including HDFC Bank and Yes Bank on 23 December 2011 raised their interest rates on such deposits in order to lure foreign money 4. Private lender Yes Bank increased the interest rates on fixed deposits held by non-resident Indians (NRIs) to 8.4 per cent from 3.82 per cent 5. The new rates are effective from 24 December for fresh deposits as well as those being renewed on maturity. a. 1 & 2 b. Only4 c. Only 3 d. 1 & 4 Answer: (c)
1. 2. According to the RBI data, India's foreign exchange reserves fell by what

amount to $302.1 billion during the week ended 16 December 2011 on account of a fall in foreign currency assets? a. $4.67 billion b. $3.33 billion c. $5 billion d. $5.75 billion Answer:
(a)

3. According to the Tea Board data released in December 2011, tea imports

declined by what per cent to 9.91 million kg in the April-October period of 2011? a. 10% b. 12.5% c. 14% d. 15.3% Answer: (c)
4. Infrastructure sector recorded a growth of what per cent in Novemberr 2011

after touching five-year low of 0.3% in October 2011 due to an impressive growth in cement, electricity and refinery products? a. 2.3% b. 3.9% c. 4.6% d. 6.8% Answer: (d) Telecom Commission, the decision-making body of the Department of Telecommunications recommended a uniform licence fee of what per cent of adjusted gross revenues (AGR) as against the prevalent rate of 6-8 per cent? a. 10% b. 8% c. 5.2% d. 9.3% Answer: (b) 1. According to the International Data Corporation's (IDC) Quarter 3 2011 Mobile Phone Tracker release, the Indian mobile phone market grew by what percentage in units shipped in the July-September quarter of 2011 to clock 47.07 million units? a. 10% b. 10.5% c. 11.3% d. 12% Answer: (d)
5.

Diesel consumption in Delhi declined by a startling 26% in 2010-11 compared to 2009-10. Delhi was however found to have used 2.24% more petrol in the same period. As per the latest Delhi government figures, the consumption of diesel in the city stood at what amount in 2010-2011? a. 10.98 lakh metric tonnes b. 7.5 lakh metric tonnes c. 8.11 lakh metric tonnes d. 6 lakh metric tonnes Answer: (c)
2.

Fears of continuing economic slowdown, lack of decision making at the centre, rising fiscal deficit combined with not-so-impressive revenue collections upset Dalal Street investors on 20 December 2011. Which of the foolowing facts related to the above statement is/are not true? 1. Fears of continuing economic slowdown, lack of decision making at the centre, rising fiscal deficit combined with not-so-impressive revenue collections led to a 204 points loss in sensex that ended at 15175 2. The slide on 20 December 2011 was triggered by FII selling which recorded a net outflow of Rs 600 crore, taking the months total net outflow to about Rs 1700 crore. 3. The combined effect of the markets slide and the depreciation of the rupee forced India to exit from the select group of countries with a $1 trillion market capitalization 4. There was not even a single ADR issue in 2011. However, companies raised about $220 million through GDRs (Global Depository Receipts) during 2011 a. Only 1 b. 3 & 4 c. Only 3 d. Only 2 Answer: (d)
3.

Credit rating agency Moody's on 21 December 2011 upgraded the credit rating of the Indian government's bonds from the speculative to investment grade. Which of the following facts related to the above statement is/are true? 1. According to a release issued by the Finance Ministry, Moody's unified India's local and foreign currency bond ratings at Baa3 2. Moody's Investor Service upgraded its local currency rating for Indian government bonds to Baa3 which is speculative grade as compared to the earlier Ba1 which is junk or investment grade. 3. India's foreign currency bond ceiling is unchanged at Baa2, and the foreign currency bank deposit ceiling is Baa3. The local currency bond and bank deposit ceilings are unified at A1.
4.

4. The government's local currency short-term rating has been changed to P-3 from NP, indicating the government's ability to repay short-term debts. a. Only 2 b. Only 1 c. 1 & 3 d. Only 4 Answer: (a) According to official data released here on 22 December 2011, food inflation dropped sharply to an almost four-year low of what per cent during the week ended 10 December indicating an overall easing of prices? a. 1.5% b. 1.32% c. 1.81 % d. 2.32% Answer: (c) 1. The Centre for Development of Telematics (C-DoT) on 5 December 2011 transferred indigenously-developed Gigabit Passive Optical Network (GPON) technology to seven telecom equipment manufacturers. Which of the following facts about the technology is not true? 2. The GPON technology is a pivotal component required for broadband connectivity over optical fibre. 3. C-DOT indigenously designed and developed GPON technology, which can be used to provide triple play (voice, video and data) through fibre-based networks 4. The GPON technology was tested, validated, field-evaluated and made operational in MTNL's/VSNLs network in Ajmer (Rajasthan) 5. The technology will help fulfil requirements of major national programmes like the National Optical Fibre Network and the State Wide Area Network. a. Only 1 b. Only 3 c. 1 & 4 d. Only 4 Answer: (b)
5. 2. Bank lending to the priority sector grew at what percentagein October 2011 on

an annual basis due to lower offtake by agriculture and MSME segments as well as decline in micro credit? a. 10% b. 12% c. 13.7% d. 8.3%
Answer: (a) 3. With the inauguration of the first state-of-the-art ATDC-SMART (Skill for

Manufacturing Apparels through Research and Training) in Egmore, Chennai, the Ministry of Textiles launched which of the following schemes? a. National Technology Mission for Technical Textiles b. Integrated Skill Development Scheme c. Technology Upgradation Fund Scheme (TUFS) For Textile d. Rural Textiles Technology Development Skill
Answer: (b) 4. The Coal Ministry on 6 December 2011 turned down which coal producing plea

for scaling down current fiscal 2011-12 s output target to 448 million tonnes (MT) from 452 MT? a. Neyveli Lignite Corporation b. Western Coalfields Limited c. Mahanadi Coalfields d. Coal India Limited Answer: (d) As per the governement data released on 8 December 2011, food inflation dropped to almost a three-and-a-half-year-low for the week ended 26 November 2011. To what per centage did the food inflation fall in the week under survey? a. 6% b. 6.6% c. 6.19% d. 6.23% Answer: (b) 1. A parliamentary committee on 13 December 2011 rejected the proposal to allow what percentage foreign direct investment in the insurance sector? a. 51% b. 49% c. 43% d. 29% Answer: (b)
5.

According to data from research body All India Organisation of Chemists and Druggists (AIOCD), Indian drugmakers posted a certain per cent month-on-month
2.

growth in sales of November 2011 which was the highest in the past 14 months. What was the per cent of sales growth projected for the month? a. 23% b. 31% c. 21% d. 43% Answer: (c) The government waived loan of handloom weavers in India to help revive the sector under the scheme of Revival, Reform and Restructuring Package for Handloom Sector. What amount of loan was waived? a. Rs 548.35 crore b. Rs 420.66 crore c. Rs 506.64 crore d. Rs 3521 crore
3. Answer: (d)

Food inflation fell to nearly a four-year low at what per cent for the week ended 3 December 20112 due to significant fall in prices of wheat and vegetable owing to seasonal factors? a. 4.35% b. 4% c. 5.21% d. 5.33% Answer: (a)
4.

A committee on mutual funds, constituted by SEBI in december 2011 recommended to the regulators board to break down the bifurcation within the fee structure known as expense ratio. Which of the following facts are not true with regard to the above statement? 1. Currently mutual funds are allowed to charge up to 2.25% as expense ratio. fund houses are allowed to accept only 1.25% as asset management charges 2. Funds with large corpuses currently charge 1.55% as expenses charges 3. SEBI was suggested to keep overall scheme expenses unchanged at 2.25% for schemes with assets under management not exceeding Rs 400 crore 4. Expense ratio is more than important in debt schemes where the rate of return is not hig. a. 1 & 2 b. 3 & 4 c. 1 & 3 d. Only 2 e. None of the above Answer:
5. (d)

3 rd ASSMNT
According to government data released on 18 November 2011, the Consumer Price Index (CPI) was pushed up by what percent in October2011 due to costlier food and clothing? a. 0.97% b. 1.00% c. 1.23% d. 1.5% Answer: (a)
1.

The double impact of rupee depreciation and the slide in the sensex led to a fall of what percent in the value of investments of the foreign institutional investors (FIIs)in the last six months beginning May 2011? a. 19.1% b. 21% c. 23% d. 26.7% Answer: (c)
2.

Governments indirect taxes body released in November 2011 a revised concept paper on taxation of services on the basis of a negative list, making some additions and deletion to the first paper published in August 2011. Which of the following facts related to the above statement is not true? 1. 22 services will be under the negative list, or exempt from tax, as against 27 proposed in the earlier draft. 2. The shift to a negative list will mean that all services except those mentioned in the list will be taxed, providing clarity on services that will be taxed and
3.

widening the service tax base. 3. The negative list approach will help to widen the tax base for services. 4. The revised concept paper proposed not to exempt from tax these services healthrelated services, those relating to agriculture, horticulture and animal husbandry and passenger travel by non-AC second-class trains. a. 1 b. 1 & 3 c. 2 & 3 d. Only 4 Answer: (d) Department of Industrial Policy and Promotion (DIPP) on 22 November 2011 moved a Cabinet note, proposing what per cent foreign direct investment (FDI) in domestic airlines? a. 25% b. 26% c. 49% d. 51% Answer: (b)
4.

Union cabinet on 24 November 2011 approved what per cent foreign direct investment (FDI) in multi-brand retail? a. 49% b. 100% c. 51% d. 26% Answer: (c) 1. The UPA-II Government set up an expert group to suggest restructuring of power utilities of seven major States. Which of the following statements given below are not true in this context? 2. The expert group headed by Planning Commission member (Energy) B. K. Chaturvedi is expected to submit its report by March 2012. 3. The group was entrusted with the responsibility to make an assessment of the cumulative losses of distribution utilities of seven major States. 4. Uttar Pradesh and tamil Nadu are not amon gthe list of seven states where the power utility structure is to be restructured. 5. The expert group will have to suggest a strategy for capital restructuring of these power discoms (distribution companies), including commitment by other stakeholders like State governments. a. 1 & 4 b. 2 & 4 c. Only 3 d. Only 1 Answer: (c)
5. 2. Which stock exchange in India launched operations on the National Stock

Exchange (NSE) platform on 28 November 2011 and became the only stock exchange in India to offer facility to trade on three trading platforms? a. Guwahati Stock Exchange b. Bombay Stock Exchange c. MCX Stock Exchange (MCX-SX) d. Ahmedabad Stock Exchange e. Calcutta Stock Exchange Answer: (e)
3. The Union government on 28 November 2011 asserted that a certain

percentage sourcing under FDI in multi-brand retail has been made mandatory from Indian MSEs only. Quote the per centage. a. 23% b. 30% c. 33% d. 49% Answer: (b)
4. According to the the quarterly public debt management report released by the

Finance Ministry on 28 November 2011, the Indian government's internal debt rose during the second quarter (July-September) of 2011-12.The internal debt to GDP ratio increased to what per cent of GDP during second quarter of 2011-12 from 31.4% in the April-June quarter? a. 31.9% b. 31.3% c. 32.3% d. 33% Answer: (c) The governments three oil marketing companies (OMCs) on 29 November 2011 cut petrol prices by what amount. It would now cost Rs 65.64 in Delhi. a. Rs 0.50 per litr b. Rs 0.70 per litr c. Rs 0.78 per litr d. Rs 0.82 per litr
5. Answer: (c)

1. According to the data released by the commerce and industry ministry on 31

October 2011, the eight core infrastructure industries growth slowed down to what percentage for September 2011 as against 3.3 per cent in September 2010? a. 3.1% b. 2.3% c. 2% d. 1.8% Answer: (b)
2. Finance Minister Pranab Mukherjee on 31 October 2011 inaugurated a fully

secure government e-payment system. Which of the following facts regarding the e-payment system is not true? 1. e-payment system will enable the Central government to directly credit dues into the accounts of beneficiaries. 2. It has been developed by Comptroller & Auditor general of India. 3. It has been designed to serve as middleware between COMPACT (computerised payment and accounts) application at PAOs and the core banking solution (CBS) of the agency banks/Reserve Bank of India, to facilitate paperless transaction. 4. The e-payment system will save both time and effort in effecting payments and also facilitate the elimination of physical cheques and their manual processing. a. 1 & 2 b. Only 1 c. Only 2 d. 1 & 3 Answer: (c)
3. Finance Ministry gave its nod to Mining company Coal India Ltd (CIL) for

acquiring stake in overseas unlisted firms. The Finance Ministry however did not grant complete relaxation to the norm of minimum internal rate of return (IRR) percentage from such acquisitions. What is the minimum internal rate of return (IRR) percentage quoted by the Ministry in this respect? a. 12% b. 10% c. 15% d. 13.33% Answer: (a)
4. State-owned oil companies on 3 November 2011 raised petrol prices by what

amount at a time when the nation is already battling high double-digit food inflation? a. Rs 2.30 per litre b. Rs 1.80 per litre c. Rs 3.30 per litre d. Rs 2.15 per litre Answer: (b)
5. According to the WPI data released by the Commerce and Industry Ministry on 3

November 2011, food inflation surged to what per cent for the week ended 22 October 2011 owing to soaring prices of various edibles such as vegetables, fruits, pulses, milk and all other protein-rich items? a. 11.55% b. 12.25% c. 12.21% d. 11.12% Answer: (c) 1. Union Finance Minister Pranab Mukherjee on 16 October 2011 voiced the Finance Ministrys decision to to recapitalise which of the following PSU lenders to help it achieve compliance with capital adequacy ratio (CAR) norms? a. State Bank of India b. United Bank of India c. Punjab National Bank d. Bank of Baroda Answer: (a) A panel constituted by which of the following bodies on mutual funds in October 2011 retained the minimum capital requirement to start a fund house at Rs 10 crore, rejecting a proposal to increase the net worth criterion? a. IRDA b. SEBI c. RBI d. CCI Answer: (b)
2.

The Municipal Corporation of Delhi collected what amont of tax as property tax in the first half of 2011-12 fiscal, recording a Rs 75.16 crore jump compared to its collections during the corresponding period in 2010-11? a. Rs 900 crore b. Rs 950 crore c. Rs 912.54 crore d. Rs 971 core
3. Answer: (c)

The Agriculture Ministry on 20 October 2011 proposed a hike of Rs 115 per quintal in the minimum support price (MSP) of wheat to what sum per quintal to cover rising farm input cost and encourage farmers to increase acreage? a. Rs 1251 per quintal b. Rs 1293 per quintal c. Rs 1285 per quintal d. Rs 1233 per quintal Answer: (c)
4.

According to data released by the commerce and industry ministry on 20 October 2011 food inflation inflation stood at what percentage in the week ended 8 October 2011? a. 10.6% b. 10.54% c. 10.33% d. 10.91% Answer: (a) 1. Union Government on 26 September 2011 announced the reconstitution of the National Manufacturing Competitiveness Council (NMCC) under whose chairmanship to energise and sustain the growth of manufacturing industries and help in the implementation of strategies by the government? a. V. Krishnamurthy b. Pranab Mukherjee c. U K Sinha d. Dr D Subbarao
5. Answer: (a)

According to the report by Crisil Research, companies are likely to post a revenue growth of what per cent in the July-September quarter of 2011 as compared to 19 per cent in April-June quarter and 22 per cent in July-September quarter of 2010? a. 10% b. 13.2% c. 15% d. 17.1% Answer: (c)
2.

Government panel headed by Planning Commission member Arun Maira in its report presented on 27 September 2011 suggested giving more powers to which of the following bodies with respect to mergers and acquisitions in the pharmaceutical sector? a. Competition Commission of India b. Finance Ministry c. Reserve Bank of India d. Federation of Indian Chambers of Commerce and Industry Answer: (a)
3.

As per the provisional data released by the the Commerce Ministry on 27 September 2011, the eight core infrastructure industries registered an output growth of what per cent in August 2011 lower than the 4.4 per cent growth witnessed in the corresponding period in 2010 a. 4% b. 3% c. 3.5% d. 2.2% Answer: (c)
4.

The finance ministry on 27 September 2011 released the draft national publicprivate partnership (PPP) policy. Which of the following facts given below in this regard are not true/ 1. PPP is aimed at creating a framework for implementing infrastructure projects across sectors. 2. It addresses the issues concerning definition of various terms and also processes so that a clear and consistent position can be adopted by stake holders, including centre, states and private investors. 3. The policy was designed to ensure that a value-for-money rationale is adopted with optimal risk allocation in project structuring with life cycle approach. 4. The government is envisaging an investment of USD 7 trillion in infrastructure sector during the 12th Five-Year Plan (2012-17), up from USD 700 million in the current Plan a. 1 & 2 b. Only 4 c. 1 & 3 d. Only 3 Answer: (b)
5.

As per inflation data released on 14 November 2011, headline inflation was moved up to what per cent in October 2011 despite the various supply-side and monetary measures taken by the government and the RBI? a. 9.73% b. 9.77% c. 9.92% d. 10.01% Answer: (a)
1.

The petrol price was slashed by what amount on 15 November 2011 after being raised by Rs 1.80 in early November 2011? a. Rs 1.80 b. Rs 2.00 c. Rs 2.22 d. Rs 2.25 Answer: (d)
2.

Union Cabinet on 16 November 2011 agreed to partially allow foreign direct investment (FDI) to enter the pension sector. What percentage FDI has been permitted in the pension sector? a. 24% b. 26% c. 33% d. 49% Answer: (d)
3.

A survey of eight sectors conducted by the labour ministry released on 16 November 2011 revealed that despite the slowdown in economic activity, employment increased marginally in April-June quarter of 2011-12. In the eight sectors under survey by what per cent did the employment increase? a. 1.62% b. 2.15% c. 2% d. 3.1% Answer: (b)
4.

The Finance Ministry on 17 November 2011 increased the investment limit for foreign institutional investors (FII) in government securities (G-secs) and corporate bonds by what amount each? a. $ 4 billion b. $ 4.8 billion c. $ 5 billion d. $ 6.2 billion Answer: (c) 1. According to global fund-tracking agency EPFR, emerging markets attracted USD 3.5 billion or over 70 per cent of total fresh capital invested in the equity funds across the world during the week ended 2 November 2011. As per capital market regulator SEBI, FIIs made a net investment of what amount in Indian equities during the week ended 2 November 2011? a. USD 680 million b. USD 650 million c. USD 666 million d. USD 715 million
5. Answer: (a)

Indirect tax collections in October 2011 dropped by 2.5 percent to Rs 30,278 crore on account of a slowing economy. Indirect tax comprises which of the following? a. corporate, excise and service tax b. customs, excise and service tax c. service, excise and sales tax d. value added tax, sales tax and income tax
2. Answer: (b)

Which of the following rating agencies on 9 November 2011 downgraded the entire Indian banking system's rating outlook from stable to negative indicating a deterioration in asset quality in the months ahead? a. Standard & Poor's (S&P) b. Fitch Rating c. Moody's d. A.M. Best
3. Answer: (c)

India decided to give preferences, including tax cuts, to indigenously manufactured telecoms equipment. Which of the following facts are not correct in this respect? 1. TRAI committee cleared the proposal that mandates domestic operators to source 65% of their annual hardware and network-related equipment from Indian companies by 2020. 2. TRAI had earlier proposed that mobile phone companies be mandated to source 60% of their network equipment and other related infrastructure from
4.

domestic manufacturers by 2020 3. Manufacturing arms of international vendors such as Ericsson, Nokia Siemens, Alcatel-Lucent and Huawei amongst others are to account for only 15% of all equipment orders by 2020. 4. TRAI recommended that domestically manufactured products be given preferential market access. a. Only 2 b. 1 & 3 c. 3 & 4 d. 1 & 4 Answer: (a) Which Indian city is to host the World Economic Forum's (WEF's) India Economic Summit for the first time in 26 years of the summit's history from 12-14 November 2011? a. New Delhi b. Mumbai c. Ahmedabad d. Kolkata Answer: (b)
5.

As per the Index of Industrial Production (IIP) data, industrial production bounced back with a growth of what per cent in November 2011, marking a fivemonth high in a reversal from the negative trend witnessed in October 2011? a. 5.9% b. 6.5% c. 7% d. 8.2% Answer: (a)
1.

India on 13 January 2012 extended for how many years an anti-dumping duty on import of four Chinese products like nylon filament yarn, Saccharin, cellophane transparent film etc? a. 3 years b. 5 years c. 10 years d. 12 years Answer: (b)
2.

Reserve Bank of India (RBI) on 13 January 2012 issued guidelines on compensation of wholetime directors, chief executive officers and other risk takers in private and foreign banks. Which of the following facts regarding the above statement is/are not true. 1. The central banks directions are aimed at preventing greed from destabilising the institution. 2. The guiderlines include provisions to clawback pay if transactions fail years after origination 3. The norms provided also include capping the variable component of the compensation at 48% of the fixed pay in a year 4. As per the guidelines issued, banks are permitted to exclude the Employees Stock Option Plan from variable pay a. Only 2 b. Only 4 c. Only 3 d. 2 & 4 Answer: (c)
3.

Which of the following bodies unveiled rules for direct investment in stocks by foreign investors, including individuals to put curbs on opaque structures to prevent routing of funds by resident Indians? a. IRDA b. FICCI c. CCI d. SEBI Answer: (d)
4.

As per the Wholesale Price Index, published by the government on 16 January 2012, Reduced food prices caused the inflation to dip to a year low at what per cent in December 2011? a. 7.47% b. 7.65% c. 6.33% d. 5.41% Answer: (a)
5.

Foreign direct investment (FDI) into India went up by what per cent to $2.53 billion in November 2011, indicating an improvement in investor sentiment? a. 56% b. 49% c. 33% d. 26%
1. Answer: (a)

As per the Forward Markets Commission data released on 9 January 2012 that the turnover of the 21 commodity exchanges in India increased by 66% to what amount till December 2011? a. Rs 123 lakh crore b. Rs 137.22 lakh crore c. Rs 100.57 lakh crore d. Rs 93 lakh crore
2. Answer: (b)

Indirect tax collections increased by what per cent to Rs 285787 crore during April-December 2011 driven by an increase in service tax mop-up? a. 15% b. 14.56% c. 16.1% d. 16.33%
3. Answer: (c)

The Directorate General of Foreign Trade (DGFT) notified that the Commerce Ministry on on 11 January 2012 lowered the minimum export price of onions by $100 a tonne to boost exports. What is the changed minimum export price of onion? a. $200 a tonne b. $250 a tonne c. $300 a tonne d. $150 a tonne
4. Answer: (d)

Prime Minister's Office on 11 January 2012 directed cash-rich public sector undertakings (PSUs) to invest around Rs.1.76 lakh crore to act as a stimulus in the next fiscal 2012-13. What is the amount to be invested domestically? a. Rs.1.41 lakh crore b. Rs 1.57 lakh crore c. Rs 2.50 lakh crore d. Rs 3.19 lakh crore
5. Answer: (a) 1. The Reserve Bank of India on 25 August 2011 released its Annual Report for

2010-11. Which of the following was not discussed in the Annual Report the Central Board of the RBI? a. assessment of the macroeconomic performance during 2010-11 b. prospects for 2011-12 c. working and operations of the Reserve Bank and its financial accounts d. role of regulatory bodies in controlling the financial markets
Answer: (d)

CRISIL launched the first gold index in India on 29 August 2011. What was the base date fixed for the index? a. 2 January 2007 b. 31 march 2008 c. 1 April 2009 d. 1 April 2010
2. Answer: (a) 3.

Reserve Bank of India (RBI) panel headed by headed by Usha Thorat, Director,

Centre for Advanced Financial Research and Learning (CAFRAL) on 29 August 2011 came up with suggestion on non-banking finance company (NBFC). Which of the following related to this statement is not true? 1. The panel suggested the central bank to insist on a minimum asset size of more than Rs.25 crore for registering any new non-banking finance company (NBFC) 2. Transfer of shareholding, direct or indirect, of 25 per cent and above, change in control, merger or acquisition of any registered NBFC will require prior approval of the Reserve Bank. 3. Tier-I capital for capital to risk weighted assets ratio (CRAR) purposes would be specified at 12 per cent to be achieved in three years for all registered deposittaking and non-deposit-taking NBFCs. 4. NBFCs would be subject to regulations similar to banks while lending to stock brokers and merchant banks and similar to stock brokers, as specified by the Securities and Exchange Board of India (SEBI) a. 1 & 4 b. 2 & 4 c. Only 4 d. Only 1
Answer: (d)

As per the Directorate of Commercial Intelligence and Statistics data (provisional) published in August 2011, Indias pulses imports declined by whar percentage to 2.6 million tonnes in the 2010-11 fiscal? a. 20% b. 19.3% c. 26% d. 22.5%
4. Answer: (c)

The Cabinet Committee on Economic Affairs on 30 August 2011 approved disinvestment of 5 per cent of its stake in which of the following Central Public Service Enterprises (CPSE)? a. NTPC b. HPCL c. BHEL d. SAIL
5. Answer: (c) 1. Private power producers moved Central Electricity Regulatory Commission

(CERC) against which company accusing it of going on a power purchase agreement (PPA)-signing spree to escape regulatory oversight in selling its costlier power? a. BHEL b. NTPC c. APEPDCL d. Bhoruka Power Corporation Limited
Answer: (b) 2. Which of the statement/statements is/are true?

1. Indian Union Ministry of Finance declared that food served in hotel rooms from air-conditioned restaurants holding liquor licences and housed within the hotel premises will not attract service tax. 2. Indian Union Ministry of Finance announced that the luxury tax would be included in case of short-term accommodation service.

a. Only 1 b. Only 2 c. Both 1 & 2 d. None of the above

Answer: (a) 3. Indias competition regulator announced on 10 May 2011 the regulations for

mergers and acquisitions. With regard to the statement which of the following is true? 1. The new rules by the competition regulator exempt a host of transactions from the scrutiny of the Competition Commission of India and seek much lower merger notification fees than proposed earlier. 2. If an acquirer has 30% stake in a firm then further acquisition will not trigger the competition law except where the acquisition leads to transfer from joint control to single control. 3. An acquisition of less than 15% voting right,if it is in the usual course of business or purely an investment will be exempted. 4. The rules would take effect from 31 March 2011 and not apply retrospectively. a. 1 & 3 b. Only 1 c. 2 & 4 d. 1 & 4
Answer: (a) 4. Market regulator, Securities and Exchange Board of India passed a consent

order against which of the following merchant bankers for failing to exercise due diligence while conducting its business? a. Edelweiss Capital b. ABN Amro Securities (India) Private Limited c. Alpen Capital India Pvt. Ltd. d. ANZ Capital Private Limited
Answer: (a) 5. The cabinet committee on economic affairs (CCEA) decided that foreign direct

investment in LLPs will be allowed only in those sectors where 100% foreign ownership is permitted. Which of the following statements are not true with regard to the above statement? 1. LLPs with foreign investments will only be allowed in agricultural or plantation activity, print media and real estate business or downstream investments. 2. LLP are operating in sectors where 100% FDI is allowed, through the automatic route and there are no FDI-linked performance related conditions. 3. Foreign participation in the LLPs will not be allowed by way of cash considerations, received by inward remittance through normal banking channels. 4. LLPs have also been barred from accessing overseas debt through external commercial borrowings. a. 1 & 3 b. 2 & 4 c. 2 & 3 d. 3 & 4
Answer: (a)

1. Read the following statements regarding FSLRC 1. Indian government on 24 March 2011 constituted 11member Financial Sector Legislative Reforms Commission (FSLRC).

2. The 11-member commission will be headed by former PFRDA Chairman D Swarup. 3. The commission will examine the architecture of the legislative and regulatory system governing the financial sector in India. 4. It will study the interplay of exchange controls under SEBI and IRDA Policy with other regulatory regimes within the financial sector. Which of the above mentioned statements are not true? a. Only 4 b. 2 & 4 c. 3 & 4 d. Only 3 Answer: (b) 2. The Indian government in end March 2011 announced its decision to create Rs 2,500-crore corpus for technology modernisation of which of the following by 2012? a. Handloom sector b. Micro, small and medium units c. Horticulture sector d. Dairy Answer: (b) 3. National Thermal Power Corporation (NTPC Ltd) and Indian Ministry of Power signed Memorandum of Understanding (MOU) for the year 2011-12 on 27 March in New Delhi. What is the current total installed capacity of NTPC? a. 33694 MW b. 31684 MW c. 35321 MW d. 46099 MW Answer: (a) 4. The Cabinet Committee on Economic Affairs cleared two major foreign direct investment (FDI) proposals including that of Hero Investments Pvt. Ltd. (HIPL), a part of the Hero Group, and Reckitt Benckiser's plan. What is the total worth of the FDI proposals cleared by the government? a. Rs 7800 crore b. Rs 7850 crore c. Rs 8100 crore d. Rs 8800 crore Answer: (a) 5. Commodity exchange regulator Forward Markets Commission (FMC) in March end 2011 finally agreed to give six more months to which of the following bourses to resurrect its equity structure? a. MCX b. NCDEX c. NMCE d. NSE Answer: (c) 6. Tehri Hydro Development Corporation (THDC) India Ltd commissioned the first unit of its 400-Mw Koteshwar hydel project in March 2011.Koteshwar HydroElectric Project is located 22 Km downstream of Tehri Dam on which of the following rivers?

a. Bhagirathi b. Alaknanda River c. Mandakini River d. Dhauliganga River Answer: (a) 7. According to the Engineering Export Promotion Council (EEPC) data by what percentage did engineering export grow in month of February 2011? a. 72.3% b. 75% c. 75.7% d. 77.4% Answer: (b) 1. Memorandum of understanding (MoU) was signed between which three bodies on 17 September 2011 in the presence of Union Finance Minister Pranab Mukherjee to provide Takeout Finance for infrastructure projects? a. IIFCL, LIC and IDFC b. IDBI, GIC and FICCI c. IDFC, LIC and CCI d. FCCI, CCI and IDBI
Answer: (a)

According to a report Hype cycle for green IT and sustainability in India, 2011 by leading IT research and advisory company Gartner, India's spending on green IT and sustainability initiatives will double to what amount in 2015 a. $30 billion b. $60 billion c. $35 billion d. $70 billion
2. Answer: (d)

Union government on 20 September 2011 extended the terms of reference of the Nilekani task force. Which of the following facts about the task-force is/are not true? 1. The task-force was set up by the HRD under the chairmanship of Unique Identification Authority of India (UIDAI) chief Nandan Nilekani in October 2010. 2. The task force was asked to recommend and implement a solution for direct transfer of subsidies on kerosene, LPG and fertiliser to the intended beneficiaries. 3. The terms of reference of the Nilekani task force on direct transfer of subsidies. The extended terms of reference is to include an Aadhaar-enabled unified payment infrastructure. 4. The panel was asked to recommend an architecture for e-banking through inter-operable business correspondents a. Only 4 b. 1 & 4 c. Only 1 d. 2 & 4
3. Answer: (c)

Union governemnt on 20 September 2011 lifted the ban on export of which of the following in the face of protests by onion farmers in Maharashtra and Karnataka who had held demonstrations against the ban following a dip in prices? a. Onion b. Basmati Rice
4.

c. d.
5.

Soya Oil Potato

Answer: (a)

Non-food credit,comprising loans to individuals,farmers and businesses rose Rs 29,598.79 crore,or 20.1%,to. What amount during the fortnight ended 9 September 2011? a. Rs 40 lakh b. Rs 48 lakh c. Rs 50 lakh d. Rs 63 Lakh
Answer: (a)

Coal Ministry on 21 September 2011 during the Round table conference on Coal approved, in principle, the allotment of five coal blocks to which of the following PSU power generators? a. BHEL b. NTPC c. PowerGrid Corporation of India d. Gujarat State Energy Generation
6. Answer: (b) 1. According to the figures released by the Commerce Ministry on 1 August 2011

by what percentage did India's exports rise to reach $29.21 billion during June 2011? a. 46.45 per cent b. 45.7 per cent c. 52 per cent d. 69 per cent
Answer: (a)

Telecom Commission, the apex decision-making body of the Department of Telecom in a meeting held on 22 July 2011 permitted imposition of a uniform licence fee of what percentage on all telecom operators? a. 6 % b. 6.6% c. 8.5% d. 10%
2. Answer: (c)

Securities and Exchange Board of India (SEBI) proposed to create regulations for alternative investment funds under the title SEBI (Alternative Investment Fund) Regulations on 1 August 2011. With regard to the statement which of the following is/are not true? 1. Alternative investment fund raise capital from a number of high networth investors to invest in accordance with a defined investment policy for the benefit of those investors. 2. SEBI made it optional for all types of private pools of capital or investment funds to seek registration with SEBI. 3. For PE funds, investments would be mainly in unlisted companies or companies proposed to be listed. 4. For infrastructure equity funds, minimum half of the investment would have to be in equity of infrastructure projects/companies. a. 1 & 4 b. 2 & 3
3.

c. d.
4.

1&3 2&4

Answer: (a)

Which of the following bodies launched Industrial Outlook Survey for the JulySeptember 2011 period in India? a. Finance Ministry b. Commerce Ministry c. Reserve Bank of India d. Federation of Indian Chambers of Commerce and IndustryAns
Answer: (c)

1. The report on Customer Service in Banks by a committee chaired by M. Damodaran, former Chairman of the Securities and Exchange Board of India (SEBI) that was released on 3 July 2011 recommended an increased deposit insurance cover of Rs.5 lakh so as to encourage individuals to keep all their deposits in banks. 2. The panel also suggested blocking of lost ATM cards through SMS and immediate restoration of funds in case of non-dispensation of cash at an ATM within 5 working days. Which of the above is not true? a. Only 1 b. Only 2 c. Both 1 & 2 d. None of the above
5. Answer: (b) 1. Securities and Exchange Board of India (SEBI) in a first issued a show-cause

notice to which stock exchange following a probe into alleged client code modifications by its broker members? a. MCX Stock Exchange b. Bombay Stock Exchange c. Bangalore Stock Exchange d. National Stock Exchange
Answer: (d)

Cabinet Committee on Economic Affairs (CCEA) on 5 August 2011 approved which PSUs proposal for revival of the Sindri unit of Fertiliser Corporation of India at an investment of nearly Rs 35000 crore? a. BHEL b. SAIL c. GAIL d. HPCL
2. Answer: (b)

According to government data released on 8 August 2011, Foreign Direct Investment into India grew by wat per cent to 5.65 billion US dollar in June 2011? a. 57% b. 115% c. 200% d. 310%
3. Answer: (d)

The Union government on 9 August 2011 permitted a new category of qualified foreign investors (QFIs) to invest up to what sum of money in equity and
4.

debt schemes of mutual funds (MFs)? a. $13 billion b. $18 billion c. $23 billion d. $5 billion
Answer: (a)

The Reserve Bank of India panel to review facilities for individuals under FEMA (Foreign Exchange Management Act) submitted report on 10 August 2011. With regard to the following which of the following is not true 1. In the report it mentioned that the concept of non-repatriation basis or nonrepatriable funds was outdated. 2. Since non-residents were given the freedom to remit $1 million annually, it was compulsory to maintain procedures under FEMA. 3. The report suggested the procedural knots in the system need to be untied to enable the present forex liberalisation to be effective. 4. Issue of take-overs underwent changes in the past and now are taken care of under the ambit of SEBI regulations and using FEMA for this purpose is superfluous and an unnecessary. a. 2 & 4 b. Only 2 c. 1 & 4 d. Only 4
5. Answer: (b)

Which body observed on 5 September 2011 that the Securities and Exchange Board of India (SEBI) has wider powers under the Sebi Act to issue directions to even unlisted firms to protect interest of investors in the securities market? a. Supreme Court of India b. Securities Appellate Tribunal (SAT) c. Ministry of Finance d. FICCI
1. Answer: (b)

Supreme Court on 5 September 2011 issued notice to the government on a plea challenging the appointment of Atul Kumar Rai as the chief executive officer and managing director of which of the following bodies despite his alleged involvement in corrupt practices? a. Industrial Finance Corporation of India (IFCI) b. FICCI c. Chamber of Commerce d. Competition Commission of India
2. Answer: (a)

UNCTAD's Trade and Development Report 2011 launched in New Delhi on 6 September 2011projected an economic growth of what per cent for India in 2011? a. 8% b. 8.1% c. 9.2% d. 8.6%
3. Answer: (b)

Indian rupee on 7 September 2011 settled at one-year low against the US currency. What was the value of the India value vis--vis the US currency?
4.

a. b. c. d.
5.

46.16/17 46 45.32/33 45

Answer: (a)

Which of the following bodys Trade and Development Report 2011 launched in New Delhi on 6 September 2011projected an economic growth of 8.1% per cent for India in 2011? a. Asian Development Bank b. World Bank c. International MonetaryFund d. UNCTAD
Answer: (d) 1. Finance Ministry on 12 September 2011 relaxed the norms for foreign

institutional investments (FII) in which of the following sectors by reducing the residual maturity and lock-in periods for investments in listed and unlisted bonds? a. Infrastructure b. Retail c. Pharmacy d. Textiles
Answer: (a)

According to official data on the Index of Industrial Production (IIP) released on 12 September 2011 by the ministry of statistics and programme implementation, industrial growth fell to its 21-month low at what per cent in July 2011? a. 2.4% b. 3.3 % c. 4.1% d. 4.3%
2. Answer: (b)

The Securities and Exchange Board of India (SEBI) approved the draft red herring prospectus (DRHP) of which of the following exchanges initial public offering on 9 September 2011? a. Madras Stock Exchange (MSE) b. MCX's (Multi-Commodity Exchange) c. Madhya Pradesh Stock Exchange d. MCX Stock Exchange (MCX-SX)
3. Answer: (b)

Headline inflation as measured by the wholesale price index increased to what percentage in August from 9.22% in July 2011? a. 9.78% b. 9.83% c. 9.91% d. 10.2%
4. Answer: (a)

The Union Cabinet on 15 September 2011 approved whar per cent increase in the dearness allowance (DA)and relief for the Union government employees and pensioners? a. 6.5%
5.

b. c. d.

7% 7.1% 8%

Answer: (b) 1. FIPB headed by Economic Affairs Secretary R Gopalan had in a meeting held

on 5 August 2011 cleared how many FDI proposals of a total worth of Rs 3844.7 crore? a. 31 b. 12 c. 18 d. 23
Answer: (a)

According to the public debt management report released by the finance ministry on 17 August 2011, by what percentage did the Centre's debt rise in the first quarter (April to June) of the current fiscal 2011-12? a. 5.5% b. 6% c. 6.7% d. 8.1%
2. Answer: (b)

According to a report from CRISIL Research, how many additional jobs does India need to create by 2015 to maintain the current ratio of employed people to total population at 39 per cent? a. 40 million b. 47 million c. 55 million d. 57 million
3. Answer: (c)

Headline inflation eased to its eight-month low to what percentage in July from 9.44 per cent in the previous month? a. 8.20% b. 9.22% c. 7.36% d. 8 %
4. Answer: (b)

Which regulatory body on 16 August 2011 suggested that the Centre and the State governments should come out with a regulatory framework for the realty sector to protect consumers from unfair trade practices? a. IRDA b. SEBI c. FICCI d. CCI
5. Answer: (d) 1. 1. A study titled Being five star in productivity road map for excellence in

Indian banking was released FICCI-IBA-BCG on 22 August 2011, the eve of IBAFICCI annual banking conference. Which of the facts related to the report stated below are not true? 2. India's gross domestic product (GDP) growth will make the Indian banking industry third largest in the world by 2025. 3. The report highlighted that banks have to strive for excellence on three

dimensions: branch sales and service, new channels and lean operations 4. Indian banks deploy 62 per cent of staff in customer facing roles as against the benchmark of 82 per cent observed by BCG globally. 5. Indian banks, the report mentioned were to be doing well overall with industry cost-income ratio below 50 per cent. a. 1 & 3 b. Only 3 c. Only 2 d. 3 & 4
Answer: (c) 2. According to the data released by the Life Insurance Council on 22 August 2011,

the life insurance industry witnessed a decline of what percent in its total premium collections for the quarter ended June 2011? a. 3.8% b. 4.2% c. 6.1% d. 5%
Answer: (d) 3. According to a study Private Cloud Landscape in India released by EMC

Corporation and Zinnov Management Consulting, a management consulting firm in July 2011, what will be the value of the cloud market in India by 2015? a. $ 4.5 billion b. $6 billion c. $ 5.6 billion d. $ 9 billion
Answer: (a) 4. Which of the following bodies estimated IT companies would continue to grow

globally at 16-18 per cent in 2011-12 despite the economic crisis in the U.S. and European markets? a. FICCI b. NASSCOM c. CII d. ASOCHAM
Answer: (b)

Food inflation rose to what percent for the week ended August 13 on the back of dearer onions, potatoes, fruits and protein-based items? a. 9% b. 9.3% c. 9.80% d. 10%
5. Answer: (c)

1. According to the Economic survey 2010-11 what percentage growth was recorded by the manufacturing sector in 2010? a. 9.1% b. 8.6% c. 7.3& d. 8% Answer: (a) 2. As per the economic Survey of India 2010-11, the production of food grains is

estimated at over 232 million tonnes with record production of which food crop? a. Rice b. Wheat c. Bajra d. Maize Answer: (b) 3. What is the percentage growth of GDP predicted by The Economic Survey for the financial year 2010-11? a. 8.6% b. 8.3% c. 8% d. 9.1% Answer: (a) 4. The Economic Survey estimated the Forex reserves of India at over 297 billion US dollars. The surge in Forex is attributed to growth in which of the following sector? a. Export sector b. Foreign Direct Investments c. Agricultural output d. Industrial output Answer: (a) 5. Gross Fiscal Deficit stands at 4.8% of GDP. What was the percentage of Gross Fiscal Deficit in 2010? a. 6.3% b. 5.8% c. 5% d. 7.1% Answer: (a) 6. Agriculture is expected to grow by what percentage in 2010-11 as per the Economic Survey? a. 5% b. 5.1% c. 5.4% d. 5.5% Answer: (c) 7. What percentage of GDP growth at market prices was estimated by the Economic Survey 2010-11? a. 9% b. 9.5% c. 9.7% d. 10% Answer: (c) 8. Exports surged by what percentage in the period between April to December 2010? a. 25% b. 29.5% c. 18.1%

d. 33% Answer: (b)

1. Which of the following statement/statements is/are not true?

1. The Indian government on 28 May 2011 announced the setting up of a panel to examine tightening of laws to curb the growth of black money. 2. The committee to be headed by the Directorate of Revenue Intelligence. 3. The committee will examine ways to strengthen laws to curb the generation of black money in the country, its illegal transfer abroad and its recovery. 4. The chairman of the Central Board of Direct Taxes (CBDT) would be the member secretary of the committee. a. Only 3 b. 2 & 4 c. 3 & 4 d. Only 4
Answer: (b) 2. Which of the following bodies introduced grievance redress system and

prepared a set of instructions for the income-tax sleuths who carry out survey operation? a. Central Board of Direct Taxes b. Enforcement Directorate c. Directorate of Revenue Intelligence d. Director-General (Currency)
Answer: (a) 3. The Indian Ministry of Finance raised objections to a department of public

enterprises proposal seeking greater financial autonomy to maharatna and navratna public sector undertakings (PSU). What amount can the maharatnas invest in a single project without seeking government approval? a. Rs 5000 crore b. Rs 1000 crore c. Rs 2500 crore d. Rs 3000 crore
Answer: (a) 4. According to data released by the Controller General of Accounts on 31 May

2011 the fiscal deficit went down to what percentage in 2010-11? a. 5.2% b. 4.7% c. 4% d. 3.56%
Answer: (b) 5. According to the Gross Domestic Product (GDP) data was released on 31 May

2011 to what percentage did the country's GDP (gross domestic product) growth slip in the fourth quarter (January-March) of 2010-11? a. 7% b. 7.8% c. 8.2% d. 9.1%
Answer: (b) 1. According to the first mid-quarter review of RBIs Monetary Policy, 2011-12, an

initiative was taken moderate inflation and check inflationary expectations. What

was the initiative? a. Hike in Repo Rate b. Hike in Reverse Repo Rate c. Hike in Bank Rate d. Hike in Cash Reserve Ratio
Answer: (a) 2. In June 2011, what has been done by the government of India to benefit the

exports sector? a. Reduction of tax incentive scheme for exporters b. Extension of tax incentive scheme for exporters c. Reduction of tax incentive scheme for importers d. Extension of tax incentive scheme for importers
Answer: (b) 3. Which of the following banks recently signed a $132 million loan agreement with

the Indian government for strengthening Bihars power sector? a. Asian Development Bank (ADB) b. World Bank c. City Bank d. None of the above
Answer: (a) 4. Which of the following is/are correct according to the mid-quarter review of

RBIs 2011-12 Monetary Policy? a. Reverse repo rate (short term borrowing rate) became 6.5% b. Marginal Standing Facility rose to 8.5% c. Hike in repo rate (short term lending rate (by 25 basis points to 7.5% d. All of the above
Answer: (d) 5. Which of the following was/were declared to be delisted by the Tata Steel?

a. Tata BlueScope Steel b. Riversdale Mining c. Both the above companies d. None of the above
Answer: (b) 1. The Reserve Bank of India decided to permit _ day foreign currency-rupee

swaps equal to the amount invested by FIIs in Indian initial public offerings under ASBA for the purpose of hedging? a. 45 day b. 30 day c. 15 day d. 60 day
Answer: (b) 2. Which industry body disapproved of the new IT rules 2011, notified by the Indian

government mentioning that the new rules will adversely impact the $76-billion Indian IT-BPO industry? a. NASSCOM b. FICCI c. Competition Commission of India d. Forward Markets Commission

Answer: (a) 3. The board of which Public Sector Undertaking (PSU) approved on 23 May 2011

the proposal to offload government's 5 per cent stake in the comoany as part of Centre's ambitious programme to mop up Rs 40000 crore through public sector disinvestments in 2011-12? a. NTPC b. BHEL c. Indian Oil d. BSNL
Answer: (b) 4. Which Public sector lender signed an agreement with National Skill

Development Corporation (NSDC) on 23 May 2011 in order to promote vocational training amongst the youth? a. State Bank of India b. Indian Bank c. Central Bank of India d. Union Bank of India
Answer: (c) 5. The information and broadcasting ministry endorsed/okayed the

recommendation by TRAI to enhance foreign direct investment (FDI) ceiling for direct to home TV, Internet protocol TV and teleport from 49% to _%. Complete the sentence by filling in the correct percentage. a. 70% b. 74% c. 75% d. 78%
Answer: (b) 6. The Reserve Bank of India's working group on introduction of financial holding

structure in India submitted its report on 23 May 2011. With regard to the recommendations of the Working Group, which of the following is not true? 1. The group suggested that large financial groups should adopt a holding company model. 2. Separate regulatory framework for FHCs and a new Act for regulation of FHCs was recommended. 3. The Group also recommended five options to warehouse the government's holding in public sector banks. 4. Limit on the expansion of non-banking business need to be put after the existing financial groups dominated by banks migrate to the holding company structure. a. Only 1 b. 2 & 3 c. Only 3 d. Only 2
Answer: (c) 7. Anti-monopoly watchdog Competition Commission of India (CCI) on 25 May 2011

held which of the following bodies responsible for misusing its dominant position and using of unfair means in trading of currency derivatives? a. National Stock Exchange b. Bombay Stock Exchange

c. d.

MCX Stock Exchange Pune Stock Exchange

Answer: (a)

1. Which of the following statement/statements is/are true with reference to the Railway Budget 2011? 1. Railway Minister Mamata Banerjee proposed Annual Plan for the year 2011-12 at Rs 57630 cr which is the highest ever plan investment by the railways in a single year. 2. Under the proposed Pradhan Mantri Rail Vikas Yojana the pending socially desirable lines would be completed and other similar new line projects would also be taken up. 3. Mamata Banerjee declared 2010-11 as the Year of Green Energy. 4. 2 AC Double Decker Trains in the Jaipur-Delhi and Delhi-Ahmedabad routes were proposed. Choose Answers: a. 1,2 & 3 b. 1 & 4 c. 2 & 3 d. 1 & 2 Answer: (d) 2. Acknowledging the need for development of J&K and North-east, Mamata Banerjee introduced in the Railway Budget 2011 a number measures for these two regions. In which of the following North-eastern cities did the budget propose to set up a diesel locomotive centre? a. Imphal b. Manipur c. Guwahati d. Tripura Answer: (b) 3. Projects Proposed Places named for the
Projects

1. 2. 3. 4.

Centre of Excellence in Software Rail Industrial Park Institute for Tunnel and Bridge Engineering Bridge Factory C 2 2 3 1 D 1 4 1 2

A. J&K B. Jammu C. Jellingham D. Darjeeling

A B a. 4 3 b. 1 3 c. 2 4 d. 3 4 Answer: (a)

4. Read the two statements with regard to the passenger benefit plans proposed in the Railway Budget 2011. 1. The budget proposed extension of Train Management System to New Delhi, Bangalore, Secunderabad, Ahmedabad and Lucknow stations to provide information on running of trains. 2. Mamta Banerjee introduced a new concept of Smart Card - Go India for long distance travel by Indian railways. Which of the two statements are true? a. Only 1 b. Only 2

c. Both 1 & 2 d. None of the above Answer: (c) 5. According to Railway Budget 2011, railway card passes would be extended to the parents of the unmarried posthumous winners of which of the following Awards? 1. Param Vir Chakra 2. Bharat Ratna 3. Ashok Chakra gallantry award 4. Padma Shri a. 1 & 2 b. 2 & 3 c. 1, 2 & 3 d. 1 & 3 Answer: (d) 6. New Trains Proposed 1. Rajya Rani Express trains important cities/towns 2. Janam Bhoomi Gaurav travellers 3. Vivek Express Swami 4. Super AC class trains places A B C D a. 1 4 3 2 b. 4 2 3 1 c. 2 1 3 4 d. 3 2 1 4 Answer: (a) 7. Which of the following schemes proposed in the Railway Budget 2011 is/are not meant for Railway Employees? 1. Expansion of Liberalized Active Retirement Scheme for Guaranteed Employment 2. Railway Vidyalaya Prabandhan Board 3. Sukhi Griha Scheme 4. Pradhan Mantri Rail Vikas Yojana a. 1 & 3 b. 3 & 4 c. 2 & 4 d. 1 & 4 Answer: (b) 8. The electrical energy requirement of railways is growing rapidly with the expansion of the rail infrastructure and traffic. Considering the rising demand the Ministry of Railways proposed to set up 700 MW power plant at Thakurli in Maharashtra. The power plant is proposed to be based on what form of energy? a. gas-based
Purpose

A. To connect state capitals with in those states B. To cater to the needs of corporate C. To mark 150th birth anniversary of Vivekananda D. To connect historical and education

b. coal-based c. solar power d. nuclear energy based Answer: (a) 9. Ministry of Railways proposed to extend Anti Collision Device (ACD) to which of the following Railway zones in India 1. Eastern zone 2. East Central 3. North Eastern 4. South Central a. 1 & 4 b. 2 & 4 c. 1 & 2 d. 1 & 3 Answer: (c) 10. With regard to the infrastructure development of Railways as proposed in Railway Budget 2011 which statement/statements is/are false? 1. The budget proposed to lay 40 new lines, covering 1075 km. 2. The Ministry has allocated Rs 5406 crore for doubling of 867 km of lines 3. A greater thrust was given to the expansion of the rail network with a larger allocation of Rs 9583 cr for new lines. 4. for gauge conversion over 1017 km. Rs 13820 crore was proposed a. Only 1 b. 1 & 2 c. Only 4 d. 2 & 4 Answer: (c) 11. To raise money, the Railways was allowed for the first time, to issue tax-free bonds worth what sum of money? a. Rs 10000 crore b. Rs 5500 crore c. Rs 1000 crore d. Rs 5000 crore Answer: (a) The Central Department of Telecommunications (DoT) on 22 July 2011 approved Rs 30000-crore National Optical Fibre Network (NOFN) for broadband connectivity to 2500 Panchayats in India. The project will be funded through which of the following? a. World Bank b. Universal Service Obligation [USO] Fund c. IMF d. UNO
1. Answer: (b)

According to the state-wise cotton crop data released by the Agriculture Ministry for 2010-11 on 25 July 2011 which variety of cotton emerged as the largest cotton crop in all the major cotton producing states? a. V-797
2.

b. c. d.
3.

RS2013 Digvijay Bt cotton

Answer: (d)

The Reserve Bank of India (RBI) in a bid to tame inflationary pressure hiked the short-term indicative policy rate (repo rate) by 50 basis points on 26 July 2011. The repo rate currently stands at what percentage? a. 7% b. 7.5% c. 8% d. 8.5%
Answer: (c)

World Investment Report 2011 was released by UNCTAD on 26 July 2011. According to the report, what is Indias position among the top 20 Foreign Direct Investment (FDI) recipients? a. 8th b. 10th c. 14th d. 4th
4. Answer: (c)

The Union government on 26 July 2011 announced restoration of the popular duty entitlement pass book (DEPB) scheme for export of cotton. Which of the following is/are not true with regard to the following? 1. Restoration of the popular duty entitlement pass book (DEPB) scheme was announced for export of cotton with retrospective effect from 1 April 2011 and on cotton yarn from 1 October 2010. 2. Cotton yarn had been placed under Open General Licence for exports from 1 October 2011. 3. Exports of cotton were dis-incentivised by virtue of export tax, following a sharp rise in prices in January 2011. 4. Restrictions continue to remain on export of cotton, that is, 65 lakh bales this year. a. Only 1 b. Only 2 c. Both 1 & 2 d. Only 4
5. Answer: (b)

The Reserve Bank of India imposed a penalty of 25 lakh on Citibank in July 2011. What was charge against it? a. Citibank violated anti money laundering (AML) b. It violated banking norms c. It involved illegal banking d. All of the above
Answer: (a) 2. A. The Reserve Bank of India on 4 July 2011 allowed refinancing of redemption

of foreign currency convertible bonds (FCCBs) by allowing firms to raise fresh overseas borrowing under the automatic route. B. This measure is aimed at helping Indian companies repay loans taken under bonds (FCCBs).

C. This measure is aimed at helping Indian companies to take loans. D. A Bank will now be bound to repay loans within before it applies for a fresh loan. Which of the following statement/statements is/are correct? a. A only b. A & B c. All of the above d. None of the above
Answer: (b) 3. The RBI decided on 30 June 2011 to extend the buyback of foreign currency

convertible bonds till March 2012. What does this signify? A. It will benefit several companies facing severe funding problems for buyback due to lackluster equity markets. B. It will benefit all the Indian banks facing funding problem. Which of the above statements is/are incorrect? a. Both A & B b. Only A c. Only B d. None of them
Answer: (c) 4. Bhagyam Oil Field, which is the second largest in its kind in the state, belongs to

which of the following Indian States? a. Assam b. Rajasthan c. Arunachal Pradesh d. Madhya Pradesh
Answer: (b) 5. Food inflation in India eased to its seven week low at 7.61 percent for the week

ended 25 June 2011. The reason behind decrease in inflation is cheaper pulses and vegetables. Who released the data? a. The WPI (Wholesale Price Index) b. FICCI c. Commerce Ministry of India d. Finance Ministry of India
Answer: (a) 1. The Union government in July 2011 allowed imports of 40,000 tonnes of

natural rubber at a concessional duty. At what percentage concessional duty was the import permitted? a. 7.5% b. 7.8% c. 8% d. 8.5%
Answer: (a)

The labour ministry-controlled Employees Provident Fund Organisation (EPFO) on 14 July 2011 appointed four fund managers for its 3.5 trillion pension fund corpus. Which of the following was not appointed? a. ICICI Prudential Asset Management Co. Ltd b. State Bank of India (SBI) c. Reliance Capital d. HSBC Asset Management
2. Answer: (a)

The Export-Import Bank of the U.S. on 18 July 2011 sanctioned loans worth $1.4 billion (about Rs.6300 crore) for companies in which of the following Indian sectors, thereby increasing their investment in that sector? a. Handloom & Cottage industries b. Renewable energy sector c. IT d. Media & Entertainment
3. Answer: (b)

Group of Ministers (GoM) on 18 July 2011 approved in-principle additional equity infusion of 1200 crore and payment of 532 crore for operating VVIP and rescue flights for which carrier? a. Air India b. Jet Airways c. Sahara d. Kingfisher
4. Answer: (a)

Revenue Department announced in July 2011 its decision to impose antidumping duty of up to USD 1.41 per kg on imports of R-134a gas. With regard to the following, which of the following is true? 1. R-134a is an inert gas used primarily as a high temperature refrigerant for domestic refrigeration and automobile air conditioners. 2. The anti-dumping duty was imposed to protect domestic players from cheap Chinese and Japanese shipments. 3. The restrictive duty on the import of 1,1,1,2-Tetrafluoroethane or R-134a is to be imposed for a period of ten years. 4. Anti-dumping duty is imposed to check if domestic industry has been hurt because of a surge in cheap imports. a. Only 1 b. 1,2 & 4 c. 3 & 4 d. 1 & 3
5. Answer: (b) 1. What is correct regarding FDI in the financial year 2010-11?

a. FDI was stagnant in comparison with the financial year 2009-10 b. FDI by Indian firms jumped more than two-folds in financial year 2010-11 c. FDI dipped tremendously d. None of the above
Answer: (b) 2. FDI inflows into India totaled $19.42 billion in 2010-11, down from $25.83 billion

in 2009-10. Which of the following published the data? a. Reserve Bank of India b. Finance Ministry of India c. Industry Ministry of India d. Foreign Ministry of India
Answer: (c) 3. The government of India extended the tax incentive scheme for exporters, from

30 June 2011 to 30 September 2011. This was done a. To benefit the exports sector b. To benefit the imports sector

c. To benefit both Exports and Imports sectors d. None of the above

Answer: (a) 4. The Union Ministry of Finance on 22 June 2011 directed the Income Tax

department to launch immediate prosecution action in tax evasion cases wherein tangible assets and investments are located in foreign shores. What was the motive of the direction? a. To ease Tax collection from abroad b. To provide comfortable ways of savings in the foreign land c. To manage taxation according to the need of time d. To fight the menace of black money
Answer: (d) 5. What is the full form of DGFT?

a. Development and Grouping of Foreign Trade b. Demand and Grouping of Foreign Trade c. Director General of Foreign Trade d. All of the above are correct in different contexts
Answer: (c)

1. Which body in India demanded on 24 April 2011 introduction of financial support through legislation for preventing corrosion of machines, pipelines and industrial structures? a. Confederation of Indian Industry b. Indian Ministry of Commerce c. Competition Commission of India d. Indian Chamber of Commerce Answer: (a) 2. Which of the following bodies in April 2011modified the norms for appointment of its internal auditor? a. SEBI b. PFRDA c. IRDA d. India Inc Answer: (a) 3. According to the data released by Central Electricity Authority, India generated 811 billion units of electricity in 2010-11 fiscal marginally lower than the set target. What was the target set for electricity generation for 2010-11? a. 830 billion units b. 830.8 billion units c. 815 billion units d. 818 billion units Answer: (b) 4. Market regulator SEBI on 25 April 2011 sought more time from the Supreme Court to give its views on the report of a high-powered committee that probed case that dates back to 2006. Name the scam being referred to. a. IPO scam b. Telgi Stamp Paper Scam c. UTI Scam d. Madhu Coda Scam

Answer: (a) 5. National Association of Software and Services Companies (NASSCOM) on 26 April 2011 announced which of the following individuals appointment as its Chairman? a. Rajendra S. Pawar b. Harsh Manglik c. N. Chandrasekaran d. Ganesh Natarajan Answer: (a) 6. The Reserve Bank of India on 26 April 2011 fined 19 banks, including the country's top private and foreign banks for violating its guidelines on derivatives. Which is the only public sector bank on the list of banks to be fined? a. State bank of India b. Punjab National Bank c. Bank of India d. Indian Bank Answer: (a) 1. L&T Infotech was chosen to be an Implementation Agency to implement the Business Analytics Project in order to provide for data and information for analysing insurance companies and regulatory decision making by which body? a. IRDA b. SEBI c. RBI d. PFO Answer: (a) 2. Propelled by higher crude petroleum and steel production, the index of the six core' infrastructure industries registered 6.8 per cent higher growth in March 2011 compared to March 2011. What percentage growth did the index record? a. 7.4% b. 7.1% c. 7.5% d. 7.34% Answer: (a) 3. The Annual Monetary Policy for 2011-12 was presented by RBI Governor D.Subbarao on 3 May 2011. With regard to the monetary policies mention which of the following is/are not correct? 1. RBI increased the repo rate under the liquidity adjustment facility (LAF) by 50 basis points from 6.75 per cent to 7.25 per cent with immediate effect. 2. The Marginal Standing Facility (MSF) rate, determined with a spread of 100 basis points above the repo rate, stands calibrated at 8.75 per cent. 3. The Bank Rate has been retained at 5.0 per cent. 4. Reserve Bank of India (RBI) in May 2011 decided to accept the broad framework of regulations recommended by the Malegam Committee report on micro finance institutions (MFIs) a. 3 & 4 b. 1 & 4 c. 2 & 3 d. 1 & 3 Answer: (c)

5. The Reserve Bank of India (RBI) capped bank investments into liquid schemes to what per cent of the banks net worth? a. 15% b. 10% c. 12% d. 13.2% Answer: (b) 6. Which Industry Body proposed setting up of National Knowledge Functional Hub (NKFH) to engage higher educational institutions with the industry in order to produce quality engineering graduates and meet increasing requirement of skilled hands in the market? a. Food Corporation of India b. Federation of Indian Chambers of Commerce and Industry c. Biotechnology Council of India d. Confederation of Indian Industries e. ASSOCHAM Answer: (b) 1. Read the sentences with respect to the Telecom Policy 2011. 1. Telecom Policy 2011 was unveiled by the Communications and IT Minister, Kapil Sibal on 11 April 2011. 2. The decision to move to a uniform licence fee in the telecom sector was also pronounced in the policy. 3. The norms concerning merger and acquisition (M&A) mentioned that the minimum number of operators will not be allowed to fall below eight at any point in time in each circle. 4. The policy highlighted formation of a committee, under the chairmanship of retired Supreme Court judge Shivraj Patil to draft the Telecom Act. Which of the above mentioned facts are not true about Telecom Policy 2011? a. 1,2 & 3 b. 3 & 4 c. 1 & 2 d. 2 & 3 Answer: (b) 2. Indian Finance Ministry on 11 April decided to issue biometric PAN cards to taxpayers across the country to erase the problem of duplicate and fake ones. Which Indian Finance Minister has first proposed the biometric PAN card? a. Pranab Mukherjee b. P Chidambaram c. Jaswant Singh d. Yashwant Sinha Answer: (b) 3. Which industry body representing GSM players announced in April 2011 its decision to combine forces with the government to ensure wide scale spread of mobile broadband? a. Cellular Operators Association of India b. Cellular Rights Association c. TRAIs Cellular Arm d. DIT Answer: (a)

4. The 218-km Chainsa-Sultanpur-Neemrana pipeline was commissioned on 9 April 2011. Which of the following built the pipeline? a. RIGZONE b. GAIL (India) c. High - Tech Group of Companies d. Max Engineering Answer: (b) 5. According to global research group Gartner, the Indian domestic BPO market is projected to grow by 23% and reach which of the following figures in the current financial year 2011? a. $1.69 billion b. $1.4 billion c. $2.47 billion d. $1.1 billion Answer: (b) 6. Which are the two Gujarat-based cooperative sector lenders on which Reserve bank of India imposed a financial penalty of Rs 1 lakh each for violation of various rules, including anti-money laundering guidelines? 1. Shree MahalaxmiMercantile Co-operative Bank 2. Rander People's Co-operative Bank 3. Abad District Co Op Bank 4. Ahd Mercantile Co-Op Bank Ltd a. 1 & 2 b. 2 & 3 c. 1 & 4 d. 3 & 4 Answer: (a) 7. In view of the Intelligence Bureaus report, Department of Telecommunications in April 2011requested to advice the Telecom Service Providers not to launch proposed pushmail/powermail service of which of the following? a. HTC b. Blackberry c. Nokia d. Apples iphone Answer: (c) 1. Which of the following bodies tightened the norms for foreign exchange risk cover in India mentioning that only companies with a networth of Rs 200 crore can use derivatives to hedge against risk of volatility in currency rates? a. IMF b. Reserve Bank of India c. SEBI d. Union Ministry of Finance
Answer: (b) 2. Which body in India finally provided tax exemption on the 9.5 per cent interest

income on PF deposits for 2010-11? a. Reserve Bank of India b. Income Tax Department c. Employees Provident Fund Organisation d. Corporate Affairs Ministry
Answer: (b)

3. By what rate did the state oil companies hike petrol price immediately after

election results wer e declared in five Indian states in May 2011? a. Rs 5 b. Rs 5.25 c. Rs 5.50 d. Rs 5.75
Answer: (a) 4. Which ministry in India proposed in May 2011 that companies that fail to file key

annual information should not be allowed to make other mandatory regulatory filings? a. Minister of Parliamentary Affairs b. Ministry of Corporate Affairs c. Ministry of Commerce and Industry d. Ministry of Finance
Answer: (b) 5. The Union Finance Ministry on 18 May 2011 decided to discontinue which of the

following schemes beyond 30 June 2011 as the government is losing Rs 8000 crore on account of the scheme every year? a. Duty Entitlement Pass Book scheme b. Schemes of National Scheduled Tribes Finance c. Rani Durgavati Anusuchit Jaati/ Anusuchit Jan Jaati Swarojgar Yojna d. Akshat Yojna
Answer: (a) 1. The Union government on 3 June 2011 amended guidelines for Public Financial Institutions (PFIs) permitting private companies, primarily engaged in infrastructure funding, to attain the status of a PFI. Which of the following conditions is not required for the company to attain PFI status? a. A company should be established under a special Act or the Companies Act b. The companys main business should be related to power equipment construction & power related activities. c. The company must be in existence for at least 3 years and their financial statement should show that their income from the area exceeds 50 per cent of their income. d. The companies should have a net-worth of Rs 1,000 crore. Answer: (b) 2. Which body on 3 June 2011 permitted Urban cooperative banks (UCBs) to give loans to self help groups (SHGs) to promote financial inclusion in the country? a. Ministry of Finanace b. RBI c. NABARD d. CCI Answer: (b) 3. Which body imposed a penalty of Rs 14 crore on Dushyant Natwarlal Dalal and Puloma Dushyant Dalal who were the two financiers for unlawful gains made during the infamous IPO scam of 200305? a. IRDA b. SEBI c. RBI d. Supreme Court Answer: (b) 4. Consider the following statements:

1. A committee on natural resources allocation called for the creation of a national coal market to ensure greater transparency in the allocation of the dry fuel and reduce the demand-supply mismatch. 2. The operation of the platform, which would be owned by FICCI and register all approved users, could be regulated by the proposed coal regulator. 3. The committee highlighted that introduction of both captive mining and e-auctions were right steps taken in the direction of moving toward market-based allocation. 4. The committee headed by former Finance Secretary Sumit Bose recommended creation of a platform for commercial trading of coal by suppliers and buyers Which of the above statement/statements is/are true? a. 2 & 4 b. 1 & 3 c. 1 & 2 d. 2 & 3 Answer: (b) 5. With regard to the new food security bill prepared by the food ministry which of the following statement/ statements is/are false? 1. All BPL households would be given 7 kg per person or 35 kg per family of government-held grains at a subsidised price of R1 a kg for millet, wheat for R2 a kg and rice for R3 a kg. 2. Those above the poverty line would get 8 kg of grains per person, though the NAC had recommended 5 kg per person 3. The new bill also provides for cash benefits to meet enhanced food requirements of pregnant women, who would get Rs 1000 for first six months of pregnancy. 4. Under the new bill, entitlements for BPL households are wholly in line with the NACs draft food bill which was made public on 7 June 2011. a. 1 & 2 b. Only 2 c. 1 & 3 d. 3 & 4 Answer: (b) 1. Based on the recommendations of FIPB the Indian Government on 23 March 2011 approved 14 Foreign Direct Investment proposals and 27 proposals. What is the total worth of the FDI proposals accepted by the government? a. Rs 1289 crore b. Rs 1500 crore c. Rs 1342 crore d. Rs 1100 crore Answer: (a) 2. The finance ministry has opposed the Reserve Bank of Indias suggestion to restrict foreign direct investment in new banks. RBI had restricted foreign direct investment in new banks to what percentage? a. 43% b. 43.22% c. 45.7% d. 49% Answer: (d) 3. Consider the following statements-

1. CAG in March 2011 sent a questionnaire consisting 40 questions to the telecom ministry on 2G spectrum allocation scam and other developments in the sector. 2. The department of telecom (DoT) was asked as to why the spectrum (radio waves) allocation was not delinked from the licence as it was known that spectrum was scarce vis-a-vis the demand. 3. The Parliamentary panel wanted to know whether DoT consulted telecom regulator TRAI

regarding the No Cap recommendation on number of operators in a circle. 4. The loss incurred by the exchequer as a result of the 2G scam is estimated to be Rs 185379 crore Which of the above mentioned statements related to the 2G scam is true? a. All of the above statements b. 1 & 4 c. 2 & 3 d. 2 & 4 Answer: (c) 4. Which of the following bodies ordered restriction on transmitting unauthenticated news by brokers and wealth managers on blogs and mobile phones in an effort to prevent stock manipulation through rumours? a. RBI b. IRDA c. FIPB d. SEBI Answer: (d) 5. Which of the following bodies put off indefinitely the new rules governing unwanted telemarketing calls which were supposed to be implemented from 21 March 2011? a. Department of Telecommunication (DoT) b. Telecom Regulatory Authority of India (TRAI) c. Indian Ministry of communication & Technology d. HRD Ministry Answer: (b) 6. The Indian government in March 2011 conferred the Miniratna status on which of the following PSUs? a. National Small Industries Corporation (NSIC) b. Air India Charters Ltd c. Cement Corporation of India d. HMT Machine Tools Ltd Answer: (a)