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INDIAN POLITY MODEL QUESTION PAPER 1. With reference to composition of ‘Constituent Assembly’, consider the following statements: 1. Each Province andeach Princely State were allotted seats proportional to their respective population. 2. The seats in each Province were distributed along religious lines. 3. Members of Provincial Assembly elected their representatives by the method of First Past the Post System. Which of the given above statement(s) is/are correct? (a) 1 and 2 only (b) 2 only (c) 2 and 3 only (d) None of the above 2. Consider the following features of Indian Constitution: 1. First Past the Post System 2. Rule of Law 3. Due Process of law 4. Law-making procedure Which of the given above features are borrowed from the British Constitution? (a) 1 and 3 only (b) 1, 2 and 4 only (c) 3 and 4 only (d) 1, 2, 3 and 4 3. Which of the following is/are the characteristics of‘Free Societies’? 1. A society that permits the exercise of individual’s p
AICSCC ENTRANCE KEY 1. Which one of the following is the main recommendation of Jalan Committee Report? a. privatization of banks b. merger of nationlised banks c. transferring surplus of 1.76 lakh crore from RBI to Government of India exchequer d. Formation of Bad Bank to resolve NPA 2. Pradan Mantri Awaas Yojana is a? a. Banking scheme b. Housing Scheme c. LPG subsidy scheme d. Rural Road Scheme 3. Recently “Ramanujan Machine” concept was developed by scientists from Isreal Institute of Technology. with reference to Srinivas Ramanujan, consider the following statements. I. He was a fellow of Royal society in England II. He discovered Ramanujan Number 1729 which is smaller number expressed as sum of two cubes in two different ways. Which of the above statement (s) is / are are correct? a. I only b. II only c. both I and II d. Neither I nor II 4. Which of the following is not a feature of recently enacted National Medical Commission Act 2019? a. NEET , entrance
BANK MERGER Why in news? Recently government announced to merge 10 state-owned banks to create four large banks. More in News • Under the plan, Oriental Bank of Commerce and United Bank of India will be merged with Punjab National Bank; Canara Bank with Syndicate Bank; Andhra Bank and Corporation Bank with Union Bank of India; and Allahabad Bank with Indian Bank. • This merger would bring number of public schedule bank in India from 27 before 2017, to 12. Benefits of Bank Merger • Global Banks: Big Indian Banks can slowly and gradually transform themselves into global banks. With consolidation, the Indian banks will gain greater recognition and higher rating in the global market. • Risk management and large loans: Merger will result in better NPA and Risk management. Also, Banks will not be reluctant to approve big loans to averse the risk. • Customer service: Larger size of the Bank will help the merged banks to offer more products and services
JALAN COMMITTEE REPORT Why in news? Recently, the Reserve Bank of India (RBI) decided to transfer a surplus of Rs 1.76 lakh crore to the Government of India exchequer. Background • One of the many issues of friction between the government and the central bank is the transfer of higher surplus by the latter to the government. o The RBI transfers the “surplus”, i.e. the excess of income over expenditure, to the government, in accordance with Section 47 (Allocation of Surplus Profits) of the Reserve Bank of India Act, 1934. o Earlier, the RBI used keep a major chunk of this surplus for its contingency and asset development. However, after the Malegam Committee (2013) recommendations its transfer of surplus increased. • Last year, RBI formed a committee under the chairmanship of Bimal Jalan to review the provisions under the Economic Capital Framework. • Recently, based on the recommendations of the committee, the RBI Central Board has decided to increase it
