5 April 2019
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Question 1 of 5
1. Question
Purchasing Managers’ Index (PMI) is an indicator of business activity in:
1. Manufacturing sector
2. Services sectors.
Choose the correct answer from the following codes:Correct
Explanation: The Purchasing Managers’ Index (PMI) is an indicator of economic health for manufacturing and service sectors.
The purpose of the PMI is to provide information about current business conditions to company decision makers, analysts and purchasing managers.Incorrect
Explanation: The Purchasing Managers’ Index (PMI) is an indicator of economic health for manufacturing and service sectors.
The purpose of the PMI is to provide information about current business conditions to company decision makers, analysts and purchasing managers. -
Question 2 of 5
2. Question
Reverse Repo Rate is a tool used by RBI to?
Correct
Explanation: Reverse Repo Rate is a rate at which the RBI is willing to borrow from the commercial banks is called reverse repo rate.
If the RBI increases the reverse repo rate, it means that the RBI is willing to offer lucrative interest rate to commercial banks to park their money with the RBI.
This results in a reduction in the amount of money available for the bank’s customers as banks prefer to park their money with the RBI as it involves higher safety.
This naturally leads to a higher rate of interest which the banks will demand from their customers for lending money to them, thereby causing reduction in liquidity.Incorrect
Explanation: Reverse Repo Rate is a rate at which the RBI is willing to borrow from the commercial banks is called reverse repo rate.
If the RBI increases the reverse repo rate, it means that the RBI is willing to offer lucrative interest rate to commercial banks to park their money with the RBI.
This results in a reduction in the amount of money available for the bank’s customers as banks prefer to park their money with the RBI as it involves higher safety.
This naturally leads to a higher rate of interest which the banks will demand from their customers for lending money to them, thereby causing reduction in liquidity. -
Question 3 of 5
3. Question
In context of Indian economy , ‘Open Market Operations’ refers to?
Correct
Explanation: Purchase and sale of govt securities by RBI.
OMOs are conducted by the RBI via the sale/purchase of government securities (G-Sec) to/from the market with the primary aim of modulating rupee liquidity conditions in the market.Incorrect
Explanation: Purchase and sale of govt securities by RBI.
OMOs are conducted by the RBI via the sale/purchase of government securities (G-Sec) to/from the market with the primary aim of modulating rupee liquidity conditions in the market. -
Question 4 of 5
4. Question
An ‘Advance Pricing Agreement’, signed by the Central Board of Direct Taxes, relates to
Correct
Explanation: The Advance Pricing Agreement Scheme was introduced in the Income-tax Act in 2012 and the “Rollback” provisions were introduced in 2014.
The scheme endeavours to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and setting the prices of international transactions in advance. A rollback enables taxpayers to retrospectively apply the APA agreed upon for a period of past four years.
The progress of the APA Scheme strengthens the Government’s mission of fostering a non-adversarial tax regime.Incorrect
Explanation: The Advance Pricing Agreement Scheme was introduced in the Income-tax Act in 2012 and the “Rollback” provisions were introduced in 2014.
The scheme endeavours to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and setting the prices of international transactions in advance. A rollback enables taxpayers to retrospectively apply the APA agreed upon for a period of past four years.
The progress of the APA Scheme strengthens the Government’s mission of fostering a non-adversarial tax regime. -
Question 5 of 5
5. Question
Which of the following statements about the Insolvency and Bankruptcy Code, 2016 is/are correct?
1). The insolvency resolution process applies to public sector banks, companies and individuals
2). It enables the government to authorise the RBI to create a Public Credit Registry Information System
Choose the correct answer from the following codes:-Correct
Explanation: Both statements are incorrect.Under the IBC, 2016 the insolvency resolution process applies to companies and individuals.
The Financial Resolution and Deposit Insurance Bill, 2017 on the other hand seeks to create a framework for resolving bankruptcy in financial firms (such as banks and insurance companies).Incorrect
Explanation: Both statements are incorrect.Under the IBC, 2016 the insolvency resolution process applies to companies and individuals.
The Financial Resolution and Deposit Insurance Bill, 2017 on the other hand seeks to create a framework for resolving bankruptcy in financial firms (such as banks and insurance companies).