NITI Aayog s 3-Year Action Agenda

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2 from 4.5% of the Gross Domestic Product (GDP) in to 3.5% in while the revenue deficit has been reduced from 3.% to.1% of the GDP over the same period. It is proposed that the government should capitalize on this progress by maintaining its course during the next three years. Under the proposed fiscal framework, the fiscal deficit is to be reduced to its eventual target of 3% of the GDP under the Fiscal Responsibility and Budget Management (FRBM) framework by , while the revenue deficit is expected to fall to 0.9% of the GDP by EXPENDITURE The Action agenda proposes linking Central government expenditure to future priorities, shifting additional allocations to high-priority sectors which are more likely to promote development. The proposals imply substantial expansion in expenditures by on education, health, agriculture, rural development, defence, railways, roads and other categories of capital expenditure. NITI Aayog s 3-Year Action Agenda Finance Minister Arun Jaitley, along with Minister of State for Petroleum and Natural Gas Dharmendra Pradhan and NITI Aayog Vice Chairman Dr. Arvind Panagariya, unveiled NITI Aayog s 3-year Action Agenda on August 4, 017. The Agenda is a part of a long-term 15-year vision and 7-year strategy outlined in a separate document. The Action Agenda proposes a path to achieve all-round development of India and its people. According to the Three-Year Action Agenda India has good prospects of achieving over 8% growth within -3 years, while suggesting a host of reforms to ensure prosperity for all citizens. The objective of eliminating poverty in all dimensions such that every citizen has access to a minimum standard of food, education, health, clothing, shelter, transportation and energy has been at the heart of India s development efforts since Independence. The government think tank has come out with a detailed plan for reforms in the economy, judiciary, regulatory structure and social sectors, in the three-year document to be implemented from to A brief outline of the subjects covered in the document is provided below FISCAL DEFICIT During the past three years (014-17), the government has made significant progress towards implementing a sound and stable fiscal strategy. The fiscal deficit has been cut Sector-wise Allocation Health The allocation has been increased from around ` crore in to about ` 000 crore by 019-0, thereby increasing its share of total expenditure from 1.7% to 3.6%. Education The allocation has been increased from around ` crore in to about ` 10 crore by 019-0, thereby increasing its share of total expenditure from 3.7% to 4.0%. Railways and Road Capital Expenditure The allocation has been increased from around ` crore in to about ` crore by 019-0, thereby increasing its share of total expenditure from.3% to 4.3%. Similarly, the allocation towards capital expenditure for building and maintain roads is proposed to be doubled from ` 30 crore to ` crore by Defence Capital Expenditure The allocation has been increase from around ` crore in to about ` crore by 019-0, thereby increasing its share of total expenditure from 5.3% to 6.%. Agriculture and Rural Development Since agriculture and rural development are priority sectors for the government, the allocations has been increase from ` crore (5.9% share) in to ` crore (7.7% share) by Food Subsidy The allocation has been increase from ` crore in to about ` crore by Allocations are based on a reduction in the food subsidy as a proportion to GDP from 0.90% in to 0.73% in Fertilizer Subsidy The government has spend ` crore on fertilizer subsidies in the last few years. Through better targeting and reforms of fertilizer subsidies, it is expected that the fertilizer subsidy expenditures will remain at this level in the next three years. In the social sector, it talks of changes in segments like education, skill development, health and issues facing specific groups, such as Scheduled Castes, Scheduled Tribes and women. The 11-page document also calls for strengthening and streamlining regulatory structure governing sustainability of environment. 1

3 Pradhan Mantri Kisan Sampada Yojana The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Shri Narendra Modi, has approved the renaming of the new Central Sector Scheme - SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters) as Pradhan Mantri Kisan Sampada Yojana (PMKSY) on August 4, 017 for the period of coterminous with the 14th Finance Commission cycle. Earlier, CCEA in its meeting held in May, 017 approved the new Central Sector Scheme - SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters) with same allocation and period. OBJECTIVE The objective of PMKSY is to supplement agriculture, modernise processing and decrease Agri-Waste. Financial Allocation The PMKSY with an allocation of ` 6000 crore is expected to leverage investment of ` crore, handling of 334 lakh MT agro-produce valuing ` crore, benefit 0 lakh farmers and generate direct/ indirect employment in the country by the year Impact The implementation of PMKSY will result in creation of modern infrastructure with efficient supply chain management from farm gate to retail outlet. It will provide a big boost to the growth of food processing sector in the country. It will help in providing better prices to farmers and is a big step towards doubling of farmers income. It will create huge employment opportunities especially in the rural areas. It will also help in reducing wastage of agricultural produce, increasing the processing level, availability of safe and convenient processed foods at affordable price to consumers and enhancing the export of the processed foods. MEASURES TO GIVE A BOOST TO FOOD PROCESSING SECTOR Food Processing Sector has emerged as an important segment of the Indian economy in terms of its contribution to GDP, employment and investment. During , the sector constituted as much as 9.1 and 8.6% of GVA in Manufacturing and Agriculture sector respectively. The manifesto of NDA government stresses upon incentivising the setting up of food processing industry for providing better income for the farmers and creating jobs. The government has taken various other measures to boost food processing sector as follows To provide impetus to investment in food processing and retail sector, government has allowed % FDI in trading including through e-commerce, in respect of food products manufactured and / or produced in India. This will benefit farmers immensely and will create back-end infrastructure and significant employment opportunities. The government has also set-up a Special Fund of ` 000 crore in NABARD to make available affordable credit at concessional rate of interest to designated food parks and agro processing units in the designated food parks. Food and agro-based processing units and cold chain infrastructure have been brought under the ambit of Priority Sector Lending (PSL) to provide additional credit for food processing activities and infrastructure thereby, boosting food processing, reducing wastage, create employment and increasing farmers' income. Background PMKSY IS AN UMBRELLA SCHEME INCORPORATING ONGOING SCHEMES OF THE MINISTRY LIKE MEGA FOOD PARKS, INTEGRATED COLD CHAIN AND VALUE ADDITION INFRASTRUCTURE, FOOD SAFETY AND QUALITY ASSURANCE INFRASTRUCTURE, ETC. AND ALSO NEW SCHEMES LIKE INFRASTRUCTURE FOR AGRO-PROCESSING CLUSTERS, CREATION OF BACKWARD AND FORWARD LINKAGES, CREATION / EXPANSION OF FOOD PROCESSING & PRESERVATION CAPACITIES. 3 1

4 Economic Survey (Vol. II) Released As per Economic Survey Volume II, tabled in Parliament by Finance Minister Arun Jaitley on August 11, 017, meeting the upper end of the 6.75% - 7.5% GDP growth forecast for will be a challenge. Growth projected previously will be difficult due to appreciation of rupee, farm loan waivers and transitionary challenges from implementing GST. The second volume containing updated macroeconomic data was authored by Chief Economic Adviser Arvind Subramanian and his team. Fiscal Developments The social outcome of the Central government in was marked by strong growth in tax revenue, sustenance of the pace of capital spending and a consolidation of non-salary/pension revenue expenditure. This combination allowed the government to contain the social deficit to 3.5% of GDP in The Union Budget for opted for a gradual social consolidation path: the social deficit is expected to decline to 3.% of GDP in The social deficit target of 3% of GDP under the FRBM framework is projected to be achieved in Monetary Management and Financial Intermediation The Reserve Bank of India (RBI) cut the policy rate by 50 basis points during However, it shifted its 4 monetary policy stance from accommodative to neutral in February, 017. As of August, 017, Repo rate stood at 6.00% and reverse repo rate at 5.75%. Monetary aggregates decelerated significantly following the withdrawal of legal tender status of specified bank notes on November 9, 016. As of March 31, 017, currency in circulation contracted by 19.7% whereas reserve money contracted by 1.9%. During , gross bank credit outstanding grew at around 7% on an average. The average gross bank credit to industry contracted by 0.% in the financial year External Sector In (April-June), there was double digit export growth at 10.6% with export growth continuing to be in positive territory continuously for the last eleven months. Among the major economies running current account deficit, India is the second largest foreign exchange reserve holder after Brazil with reserves at $ billion as on July 7, 017. Industry and Infrastructure Industrial performance has shown moderation from 8.8% during to 5.6% in Industrial growth as per Index of Industrial Production (IIP) new series of shows overall IIP growth at 5% in as compared to 3.4% last year. The Index of Eight Core Industries growth during was 4.8% as compared to 3.0% in Services Sector The services sector remains the key driver of India s economic growth, contributing almost 6% of its gross value added growth in However, the growth of this sector has moderated to 7.7% in compared to 9.7% achieved in the previous year, though it continues to be higher than the other two sectors and nearly at the top among the 15 major economies. The services growth moderation is mainly due to the deceleration in growth in two services categories- trade, hotels, transport, communication and services related to broadcasting (7.8% ), and financial, real estate & professional services (5.7%). The share of services sector in total Gross Capital Formation (GCF), at current prices, has increased consistently over the last 4 years from 53.3% in to 60.3% in As per the Ministry of Tourism data, Foreign Tourist Arrivals (FTAs) during 016 grew by 9.7% and Foreign Exchange Earnings (FEEs) through Tourism, in US$ terms, grew by 8.8%. Social Infrastructure, Employment and Human Development The deterioration in quality learning in primary education sector and achievement of targeted enrolment level in the middle education is a challenge. The health sector in India faces many challenges in the form of declining role of public delivery of health services, high Out of Pocket (OoP) expenses on health and issues of accessibility and affordability of health services for many. 1

5 CURRENT REVIEW BANKING AND ECONOMIC ANALYSIS ABBREVIATIONS ATVM BCSBI BER BFSI CAG CAGR CBS CGRA CTS DCCB DNBS EFT FRBM GVA IDRBT MMMF NEFT NIIF REER Automatic Ticket Vending Machine Banking Codes and Standards Board of India Bank Exchange Rate Banking Financial Services and Insurance Comptroller and Auditor General Compound Annual Growth Rate Core Banking Solutions Currency & Gold Revaluation Account Cheque Truncation System District Central Cooperative Bank Department of Non-Banking Supervision Electronic Funds Transfer Fiscal Responsibility and Budget Management Gross Value Added Institute for Development & Research in Banking Technology Money Market Mutual Fund National Electronic Funds Transfer National Investment and Infrastructure Fund Real Effective Exchange Rate IRDAI LAUNCHED CENTRAL DATABASE OF INSURANCE SALES PERSONS The Insuranace Regulatory and Development Authority of India (IRDAI) has launched a Central Database of all Insurance Salespersons in the country on August 6, 017. Christined as `Envoy, the database will esnure that all licensed insurance sales persons working for insurers and intermediaries including entities such as insurance agents, broker qualified persons, specified persons of corporate agents, authorised verifiers of web aggregators, point of sales persons (POS) etc do not work with multiple insurers and intermediaries in the same business category. At the present stage, Envoy covers POS, specified persons of corporate agents, qualified persons of insurance brokers and authorised verifiers of web aggregators. According to IRDAI, the next phase, to be taken up shortly, will cover all remaining categories such as individual agents and insurance marketing firms. The database also provides a search facility for insurers and insurance intermediaries whereby an applicant insurance sales person's details are queried for a match in the database. BANKS TO PAY 3% IGST ON GOLD IMPORTS According to the government norms released on August 6, 017, the Banks importing gold and precious metals will have to pay 3% tax under the GST which can be claimed as input tax credit. Under GST 3% Integrated-GST (IGST) is payable on all imports of precious metals in addition to the basic customs duty. IGST paid can be taken as input tax credit by the banks. Banks would be liable to pay IGST on such imports and not any overseas supplier in which ownership is granted during movement of gold or silver. The GST rate on gold at 3% has to be paid at the time of imports in the form of IGST with effect from 1st of July, 017. The CBEC also clarified on levy of GST where the total value of a gold ornament is ` 30000, including ` 000 as making charge. GST is payable at the rate of 3% of the total transaction value of jewellery, whether the making charge is shown separately or not. 17TH MEETING OF FSDC HELD The seventeenth Meeting of the Financial Stability and Development Council (FSDC) was held in New Delhi on August, 017 under the Chairmanship of the Union Minister of Finance, Arun Jaitley. Financial Stability and Development Council (FSDC) is a high-level body constituted by the government of India. FSDC was formed to bring greater coordination among financial market regulators. 5 1

6 CU RRENT Discussion on Indian Economy Chief Economic Adviser (CEA) made a presentation on the state of economy. The Council noted that India has macro-economic stability on the back of improvements in its macro-economic fundamentals, structural reforms with the launch of the Goods and Services Tax (GST), action towards the following- Twin Balance Sheet (TBS) challenge, Extraordinary financial market confidence, And long-term positive consequences of demonetization. The Council also discussed the issues and challenges facing the Indian economy. Discussion on Central KYC Registry The Central KYC Registry (CKYCR) system took note of the initiatives taken by the members and discussed the issues in respect of operations of CKYCR. It has also deliberated on strengthening the regulation of the Credit Rating Agencies. BANCASSURANCE PARTNER OF DHANLAXMI BANK IS DHFL PRAMERICA DHFL Pramerica Life Insurance Company has signed on Kerala-based Dhanlaxmi Bank as its bancassurance partner announced on August 4, 017. Under which the Kerala-based Dhanlaxmi Bank will distribute retail and group life insurance products to its customers across 60 branches in India. The bank anticipates an annual incremental income of ` 0-30 crore from this distribution business. Bancassurance is an arrangement in which a bank and an insurance company form a partnership so that the insurance company can sell its products to the bank's client base. This partnership arrangement can be profitable for both companies. DHFL Pramerica Life Insurance Company Limited is one of the fastest growing life insurance companies in India headquartered in Gurgaon, India. Company got IRDAI approval to start life insurance operation in India in July, 008. Dhanlaxmi Bank Ltd is an old private sector bank headquartered in Thrissur City, Kerala, India. GST RELIEF FOR INDUSTRIAL UNITS IN HIMALAYAN, NE REGION The Cabinet Committee on Economic Affairs chaired by the Prime Minister Narendra Modi has given its approval on August 16, 017 to the Scheme of providing Budgetary Support under GST Regime for the eligible industrial units located in State of Jammu & Kashmir, Uttarakhand, Himachal Pradesh and North Eastern States including Sikkim. Budgetary support is for the period from July 1, 017 till March 31, 07. The Government of India is implementing North East Industrial and Investment Promotion Policy (NEIIPP), 007 for North Eastern States including Sikkim and Package for Special Category States for Jammu & Kashmir, Uttarakhand and Himachal Pradesh to promote industrialization. One of the benefits of the NEIIPP, 007 and Package for Special Category States is excise duty exemption for first 10 years after commencement of commercial production. PLAN YOUR GOAL WEBSITE LAUNCHED ICICI Prudential Mutual Fund has launched a new website called PlanYourGoal.com on August 16, 017. It has been launched to help users plan their investments according to their future financial goals. The website guides the users to plan their big spends, tax investments as well as the corpus required during retirement. The website also provides recommendations based on calculations. ICICI Prudential is one of the leading mutual fund investment companies in India. Terms for You ACCRUED EXPENSE An accrued expense is an accounting expense recognized in the books before it is paid for. It is a liability, and is usually current. These expenses are typically periodic and documented on a company's balance sheet due to the high probability that they will be collected. BANKERS' ACCEPTANCE A banker's acceptance is a promised future payment, or time draft, which is accepted and guaranteed by a bank and drawn on a deposit at the bank. The banker's acceptance specifies the amount of money, the date, and the person to whom the payment is due. CHAIN BANKING Chain Banking is a group of banks (minimum is 3) held together by a group of individuals for effective banking activities while the banks function independently without any hindrance of a holding company. These activities don't overlap so that the revenue is maximized to the best possible extent. ELECTRONIC BANKING A service that allows an account holder to obtain account information and manage certain banking transactions through a personal computer via the financial institution's web site on the Internet. GROUP BANKING Group Banking is a particular bank, offering products and services to a group of people (like employees of a single company) at differential rates which might not have been available to the employees if they needed those services or products. MIXED BANKING Mixed banking basically stands for a combination of two pure banking models like commercial banking and investment banking in different proportions. Under the Mixed Banking system, the banks finance the long term requirements of industries besides catering to the short term needs of trade and commerce. SIGNATURE CARD A card signed by each depositor and customer of a bank which may be used as a means of identification. The signature card represents a contract between the bank and the depositor. 6

7 CU RRENT NSE TO INTRODUCE SEAMLESS CORPORATE ANNOUNCEMENT FILING MECHANISM The NSE has decided to introduce seamless corporate announcement filing mechanism for information related to change in auditors, change in directors, and declaration of audit reports with unmodified opinion. This system will be in effect from August 17, 017. Under this seamless system, the information will get circulated as has been filed by listed entity. The registrar and share transfer agent update, strikes/lockouts/disturbances updates, trading window, code of conduct under SEBI s insider trading regulations, can also be filed under this system. The listed companies would be required to file corporate announcements on reappointment and statement of impact of audit qualifications through the mechanism. The announcements filed by listed companies under the mechanism are circulated directly on the NSE website without the exchange s intervention. It would help in dissemination of corporate announcements to investors without loss of time. BSE S INDIA INX TO BEGIN GOLD OPTIONS CONTRACTS TRADING BSEs India INX (India International Exchange) informed on August 1, 017 that it has received an approval from the Securities and Exchange Board of India to commence trading in gold options contracts from August 30, 017. The India INX, which is a wholly owned subsidiary of the BSE, is located at the International Financial Services Centre (IFSC), GIFT City. The exchange at GIFT City was launched by the Prime Minister Narendra Modi in January this year and commenced its operations on January 16, 017. The exchange provides a common platform for all asset classes - equities, currencies, commodities. The exchange proposes to commence offerings of depository receipts and bonds once the required infrastructure is in place. Earlier, on August 3, 017 the market regulator had granted approval to the INX to launch derivatives on additional 33 Indian stocks. INDIA'S REAL GDP GROWTH TO AVERAGE AT 7.4% India's real GDP growth is expected to average at about 7.4% over 017 and 018. It was published in Deutsche Bank report on August 16, 017. It also termed as faulty the argument that a per cent real GDP growth in the next few years will still be lower than what was achieved in the boom period of According to the global financial services major, the countrys growth momentum will only get stronger as private investment cycle starts reviving gradually, along with continuation of strong private consumption. India lost the tag of the fastest growing major economy to China in the March quarter with a GDP growth of 6.1%, which pulled down the expansion to 7.1%. COMMON USE ITEMS EXEMPT FROM E-WAY BILL LPG, kerosene, jewellery and currency are among the common use items that have been exempted from the requirement of obtaining electronic permits for transportation under the GST regime. The news came up on August 15, 017. The Goods and Services Tax (GST) regime, rolled out from July 1, 017, mandates obtaining permits called e-way bills for transporting goods consignment of more than ` in value with a view to checking tax evasion. A senior finance ministry official informed that GST Council in its last meeting on August 5, 017 approved a list of 153 items that have been exempted from the requirement of obtaining e- way bills. These include domesticated animals like live bovine animals, swine and fish, fruits and vegetables, fresh milk, honey, seeds, cereals and flour. Also exempted is movement of betel leaves, non-alcoholic toddy, raw silk, khadi, earthen pot and clay lamps, puja samagri and hearing aids. Human hair, semen including frozen semen and condoms and contraceptives have also been exempted. SEBI LAUNCHED ONLINE REGISTRATION FOR CUSTODIANS OF SECURITIES The Securities and Exchange Board of India (SEBI), has introduced an online registration mechanism on August 10, 017 for custodians of securities to make it convenient for them to do business. The new system would help custodian of securities to complete registration and other regulatory filings with SEBI much faster and in a cost-effective manner. Custodian of securities holds shares and other assets in electronic or physical form. All applicants desirous of seeking registration as a custodian of securities are now required to submit their applications online only, through SEBI intermediary portal. The custodian of securities seeking approval as DDP in terms of SEBI (FPI) regulations shall also apply through this portal. Finance Minister Arun Jaitley in his budget speech for 017 announced that the process of registration of financial market intermediaries will be made fully online by SEBI. IIP OUTPUT CONTRACTS 0.1% IN JUNE 017 India s Factory output fell to a four-year low and contracted by 0.1% in June 017 with poor performance of manufacturing and mining sectors. Report published on August 14, 017. The Index of Industrial Production (IIP) is an index for India which details out the growth of various sectors in an economy such as mineral mining, electricity and manufacturing. 7 3

8 CU RRENT IIP Since June 013 this is(june,017) the lowest growth when the Index of Industrial Production (IIP) contracted by 1%. In June 016, it had grown 8%. Manufacturing sector It shows negative growth of 0.4% in June from previous May 017 as 1.%. In Mining output It signs positive by 0.4% in June,017. Electricity generation It showed slow as.1% from May, 017 growth recorded 8.8 %. Consumer durables output It slow down by.1% in June, 017 from May,017. Consumer non-durables production It rose by 4.9%. Capital goods output It is a barometer of investment. It reduced by 6.8% in June, 017. NITI AAYOG PARTNERED WITH SIX STATES The NITI (National Institution for Transforming India) Aayog has announced partnership on August 9, 017 with three states each to radically transform their Health and Education sectors under its Sustainable Action for Transforming Human Capital (SATH) initiative. The shortlisted states for transforming their health sector are Uttar Pradesh, Assam and Karnataka. Madhya Pradesh, Jharkhand and Odisha were selected for transforming their education sector. NITI Aayog is working to foster co-operative federalism by ranking states through health, water, education, and agricultural indices. The SATH initiative was launched to go beyond ranking states and to handhold them in improving their social sector indicators. The vision of SATH initiative is to initiate transformation in the education and health sectors by providing technical support to states from NITI. It aims to identify and build three future role model states for health and education sectors. SEBI STOPS TRADING IN 331 SUSPECTED SHELL COMPANIES The Securities and Exchange Board of India (SEBI) on August 7, 017 directed stock exchanges to initiate action against 331 listed entities suspected of being shell companies. Of them, 16 were actively traded; 169 had already been suspended. Out of the 331 companies, 16 were actively traded on BSE Ltd (the rest were suspended due to penal reasons) and 48 were traded on the NSE. The total public float of the 331 companies, according to the BSE, is ` 0 crore. At least 13 firms had a market capitalization of more than ` 300 crore each. According to a SEBI notification, the shares of these companies will be traded only once a month until stock exchanges ascertain whether these are genuine companies or structures meant for fund diversion and tax evasion. At least 16,000 companies that have not been carrying out business activities have been deregistered and a series of actions are being taken against shell firms, finance minister Arun Jaitley informed the Lok Sabha on July 1, 017 according to a Press Trust of India report. 8 5% GROWTH IN NUMBER OF INCOME TAX RETURNS FILED There is a substantial increase in the number of Income Tax Returns(ITRs) filed due to result of demonetization and Operation Clean Money. The number of Returns filed as on August 5, 017 stands at as against filed during the corresponding period of Financial Year , registering an increase of 4.7% compared to growth rate of 9.9% in the previous year (016). The growth in returns filed by Individuals is 5.3% with returns having been received upto August 5, 017 as against 9864 returns in the corresponding period of Financial Year This clearly shows that substantial number of new tax payers have been brought into the tax net subsequent to demonetisation. The effect of demonetisation is also clearly visible in the growth in Direct Tax Collections. Advance Tax collections of Personal Income Tax (i.e. other than Corporate Tax) as on August 5, 017 showed a growth of about 41.79% over the corresponding period in Financial Year Personal Income Tax under Self Assessment Tax (SAT) grew at 34.5% over the corresponding period in Financial Year GST COUNCIL APPROVED HIKE IN LUXURY CAR CESS Sports Utility Vehicles (SUVs) and luxury cars, which became cheaper after the rollout of the GST from July 1, 017, may now cost more as the GST Council, has decided to raise cess on them from 15% now to up to 5% on August 5, 017. However, GST Council considered this issue at its 0th meeting, and recommended to the Central Government to move legislative amendments required for increasing the maximum ceiling of cess leviable on motor vehicles. The proposal to raise the ceiling of cess covers large motor vehicles with capacity for persons, mid segment and large cars, sports utility vehicles, mid segment hybrid cars and other hybrid vehicles, all of which at present attract 15% cess. COMPANIES TO DISCLOSE BANK DEFAULTS WITHIN ONE DAY The Securities and Exchange Board of India (SEBI) has directed on August 4, 017 to firms which fail to disclose any default on the payment of interest or repayment of principal to banks or financial institutions within a day. This would come into force from October 1, 017. Listed companies would need to inform exchanges in case they have defaulted in payment of interest, installment obligations on debt securities, loans from banks and financial institutions and external commercial borrowings. Companies would need to disclose the information about date of default, name of the bank/financial institution that lent the money, default amount and gross principal amount on which the default occurred. 4

9 CU RRENT FINANCE MINISTER ANNOUNCED NEW ETF BHARAT- Finance Minister Arun Jaitley launched a new Exchange Traded Fund (ETF) on August 4, 017 under the name Bharat, comprising shares of companies from 6 sectors of the economy. This decision comes on the basis of past experiments with CPSE-ETF which proved to be successful. ETF will comprise of the government s holding in Specified Undertaking of Unit Trust of India (SUUTI), central public sector enterprises (CPSE) ETF and public sector unit (PSU) banks. The ETF will feature four banking stocks SBI, Axis Bank, Bank of Baroda and Indian Bank other than CPSEs such as Nalco, ONGC, IOC, BPCL and Coal India.Besides, there will be nine other PSUs. CPSE ETF, comprises of 10 companies Oil and Natural Gas Corp. (ONGC), Coal India, Indian Oil Corp. (IOC), GAIL (India), Oil India, Power Finance Corp. (PFC), Bharat Electronics, Rural Electrification Corp. (REC), Engineers India Ltd and Container Corporation of India. ICICI Prudential is the fund manager for Bharat ETF. An exchange-traded fund(etf) is an investment fund traded on stock exchanges, just like stocks. An ETF holds assets such as stocks, commodities, or bonds and tracks an index, such as a stock indexor bond index. ETFs may be attractive as investments because of their low costs, tax efficiency, and stock-like features. The first CPSE ETF launched in March 014 and currently managed by Reliance Capital Ltd. NABARD (AMENDMENT) BILL, 017 PASSED The Lok Sabha passed the National Bank for Agriculture and Rural Development ( NABARD, Amendment) Bill, 017 by voice vote on August 3, 017. NABARD Bill enables exit of The Reserve Bank of India (RBI) from the National Bank for Agriculture and Rural Development (NABARD) and increase authorised capital of the development institution six times to ` crore. The Bill also seeks to amend some of the clauses in the light of reference of the Micro, Small and Medium Enterprises (MSMEs) Development Act 006 in the proposed legislation. Highlights of the bill NABARD may have a capital of ` crore under the 1981 Act. This capital can be further increased to ` 5 thousand crore by the Union Government in consultation with the RBI. The Bill has allowed the Union Government to increase this capital to ` crore. The capital can be increased to more than ` 30 thousand crore by the Union Government in consultation with the RBI, if important. Transfer of the RBI s share to the Union Government : The Union Government and the RBI together must hold at least 51% of the share capital of NABARD Under the 1981 Act. The Union Government alone must hold at least 51% of the share capital of NABARD provided by the Bill. The Bill transfers the share capital held by the RBI and valued to ` 0 crore to the Union Government. The Union Government will be given an equal amount to the RBI. MYAGRIGURU APP LAUNCHED Agriculture related price information would be available on mobile application MyAgriGuru which is available for free on Google play store from August, 017. Multi Commodity Exchange of India Limited (MCX) and Mahindra Agri Solutions Ltd have signed a MoU to provide agriculture related price information app. This MoU would enhance the decision-making ability of the farmers. This partnership also strengthens the vision of the two leading organizations to empower farmers by offering knowledge based solutions. It also fulfills another Government s motive to digitize the agricultural sector. Through this partnership, it will enable farmers to manage prices and also provide them with solutions that boost both agricultural productivity and farm incomes substantially. The main objective is to educate farmers by delivering complete information on agricultural products. INDIA ON TRACK TO MEET 3.% FISCAL DEFICIT TARGET As per a report by global financial services major UBS on August, 017, Indian government is on track to achieving the fiscal deficit target of 3.% of Gross Domestic Product (GDP) in the current fiscal year (017-18). A fiscal deficit occurs when a government s total expenditures exceed the revenue that it generates, excluding money from borrowings. Indian Government s fiscal deficit narrowed from a peak of 6.5% of GDP in (after the global financial meltdown) to 5% of GDP in and is estimated to fall further to 3.% of GDP in However, the states fiscal position remains stretched, with the fiscal deficit rising from a low of 1.9% of GDP in to 3% of GDP in RBI ANNOUNCED ITS THIRD BI-MONTHLY POLICY REVIEW OF CURRENT FISCAL The Reserve Bank of India (RBI) announced Third Bi-Monthly Monetary Policy Statement on August, 017 for financial year This time, RBI has cut the policy repo rate by 5 basis points (bps) to 6 %. The six member monetary policy committee voted on the basis of a majority for a cut. Dr. Chetan Ghate, Dr. Pami Dua, Dr. Viral V. Acharya and Dr. Urjit R. Patel were in favour of the monetary policy decision. 9 5

10 CU RRENT The cut in rates comes against the backdrop of slowing credit growth, very low inflation and low economic growth. Looking ahead, as base effects fade, the evolving momentum of inflation would be determined by the impact on the CPI of the implementation of house rent. allowances (HRA) under the 7th central pay commission (CPC). the impact of the price revisions withheld ahead of the GST. the disentangling of the structural and transitory factors shaping food inflation. Post the Third Bi-Monthly Monetary Policy Statement announcement, the policy rates and reserve ratios are as follows Policy Repo Rate 6.00% Earlier it was 6.5% Reverse Repo Rate 5.75% Earlier it was 6.00% Marginal Standing Facility Rate 6.5% Earlier it was 6.50% Bank Rate 6.5% Earlier it was 6.50% Cash Reserve Ratio (CRR) 4.00% Unchanged Statutory Liquidity Ratio (SLR) 0.00% Unchanged MAHILA COIR YOJANA IMPLEMENTATION The Coir Board is implementing Mahila Coir Yojana (MCY) exclusively for empowering women in the country by giving training and distribution of coir processing equipments. Minister of State for MSME Giriraj Singh informed in Lok Sabha on July 31, 017. This is a % women oriented programme intended to provide self employment to the rural women artisans in coir producing regions. The scheme envisages distribution of motorized ratts/motorized traditional ratts and other coir processing equipments, which can be operated by women, at 75% subsidy after imparting training with a duration of months subject to a maximum amount of ` The scheme is prevalent in coir producing coastal States such as Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Odisha, Lakshadweep, Maharashtra, Gujarat, Goa, Pondicherry, A& N Islands, West Bengal and NE Region. During the current year the targets of 0 women for training and 00 ratts/equipments for distribution to the trained women have been fixed under MCY and an amount of ` 35 lakhs have been allocated for the current year (017). Coir Board has received 97 applications under the Scheme and all the applications are from Kerala only. GOVT ENTERS INTO 9 UAPAs WITH INDIAN TAXPAYERS The Central Board of Direct Taxes (CBDT) has entered into 9 Unilateral Advance Pricing Agreements (UAPAs) with Indian taxpayers on July 31, 017. With this, the total number of APAs signed till date stands at 171 (Unilateral-159 and Bilateral-1). The APA Scheme was introduced in the Income-tax (IT) Act. The 9 APAs signed pertain to diverse sectors of the economy including Oil & Gas exploration, education, banking, pharmaceutical, manufacturing and IT. They also cover international transactions and provision of software development services, ITES, engineering design services, distribution, contract manufacturing, etc. CBDT is nodal policy-making body of the Income Tax (IT) department under the Union Finance Ministry. It is a statutory authority established under The Central Board of Revenue Act, It is supreme body in India for framing policies related to direct taxes. CORPORATE BSNL LAUNCHED DIGITAL WALLET Bharat Sanchar Nigam Limited (BSNL) unveiled its mobile wallet in partnership with MobiKwik on August 17, 017 to enable one-tap bill payment for its over million subscribers. The digital wallet, developed by MobiKwik for BSNL, is in line with the telecom corporation s intent to take the reach of digital payments to semi-urban and rural India. The app will allow users to pay for online recharges, make bill payments, shop and book bus and train tickets. BSNL claimed that with over 1.5 million merchants on the network, this is India s largest wallet by any telecom company. FIRST POWER UTILITY TO USE QR CODE FOR BILL PAYMENT Tata Power has become the first power utility to introduce a QR code based bill payments system in India announced on August 17, 017. The QR code linked to Unified Payments Interface (UPI) will be printed on the electricity bills.the customers can scan the QR code with BHIM app or any other UPI linked bank app and pay their bills without any hassle. Tata Power has introduced QR code service for bill payments in Mumbai. The bill details will be displayed on the app, post which the customer can authorize the payment within a few seconds and his bill will be paid instantaneously. All bill details will be auto captured while scanning the QR code and the consumer has to pay using a single tap on his smartphone. The service will provide safer payment options to the consumers and contribute to the financial inclusion in the country. UBER INTRODUCED UBER FOR BUSINESS Ridesharing app Uber has announced a new feature called Uber for Business in India on August 16, 017. The main aim of the company behind this feature is to give organizations a more efficient way to manage their business travel and improve employees' experience. 10 6

11 CU RRENT Uber for Business includes features such as Set-and-forget travelprogrammes that will allow managers to set up automated programmes for commuting, business travel, airport rides and any other mobility need. Companies can now set rules for employees, customers and clients around the type of car that they can use, how much they can spend and the location from which a trip needs to begin or end. $64 M PENALTY SLAPPED ON RIL The government has imposed a new penalty of $ 64 million (about ` 1700 crore) on Reliance Industries Ltd (RIL) and its partners for producing less than the targeted natural gas from eastern offshore KG-D6 fields in The Production Sharing Contract (PSC) allows RIL and its partners BP Plc of the UK and Canada s Niko Resources to deduct all capital and operating expenses from the sale of gas before sharing profit with the government. The total penalty now, which is in the form of disallowing recovery of cost incurred for missing the target during six years beginning April 1, 010, stands at $ 3.0 billion. Gas production from Dhirubhai-1 and 3 gas fields in KG-D6 block was supposed to be 80 million standard cubic meters per day, but actual production was only mmscmd in 011-1, 0.88 mmscmd in and 9.77 mmscmd in The output has continued to drop in the subsequent years and is now below 4 mmscmd. RIL holds 60% interest in block KG-DWN-98/3 or KG-D6 in Bay of Bengal. BP has 30% and Niko the remaining 10%. GOOGLE AND NSDC LAUNCHED SKILL DEVELOPMENT PROGRAMME National Skill Development Corporation (NSDC) and Google India launched Android Skill Development Programme on August 10, 017 to impart mobile app development training on the Android and Web platform and improve the quality of mobile app development ecosystem in India. Collaboration aims to accelerate mobile skill training and create opportunities for youth in India. The National Skill Development Corporation (NSDC) is a public-private partnership enterprise under the Ministry of Skill Development & Entrepreneurship. It aims to promote skill development by catalyzing creation of large, quality and for-profit vocational institutions. NSDC includes Sector Skill Councils and 87 training partners with over 500 training centres spread across 35 districts in India. BRITANNIA TO SPEND ` 0 CRORE AT RANJANGAON PLANT Leading FMCG company Britannia Industries announced on August 7, 017 that it will invest ` 0 crore at its proposed largest plant at the Ranjangaon food park in Maharashtra. The proposed JV plant with Greek company Chipita would also be located there and it would on stream from June 018. The company is also setting up a plant in Nepal to serve the local market. The company was also planning to set up a diary project at the food park with a capacity of seven lakh litres per day. The main focus of the company would be investments on new products and cost reduction. SEBI CONSTITUTED A COMMITTEE ON FAIR MARKET CONDUCT The Securities and Exchange Board of India (SEBI) has constituted a committee on fair market conduct on August 1, 017, which will be headed by former Lok Sabha secretary and law secretary T K Viswanathan. The panel will have representations from SEBI, mutual funds, brokers, audit firms, stock exchanges, data analytics firms and legal firms. The committee has been tasked with suggesting improvements to the existing SEBI norms, including on insider trading and Fraudulent and Unfair Trade practices (FUTP). It has been specifically asked to look at trading plans, handling of price-sensitive information during takeovers and aligning of insider-trading rules with provisions of the Companies Act. The committee has also been tasked with suggesting short-term and medium-term measures for improved surveillance of the markets, as well as issues of high-frequency trades and harnessing of technology and analytics in surveillance. The committee will submit its report within 4 months. BANKING NPCI APPROVES SPICE DIGITAL S OPERATION UNDER BBPS The National Payments Corporation of India (NPCI) has given an approval to Spice Digital Ltd. for processing bill payments under the Bharat Bill Payment System (BBPS) as a Bharat Bill Payment Operating Unit (BBPOU) announced on August 6, 017. The BBPS will allow the users to use a single website or outlet to pay all their monthly or repetitive bills such as mobile phone and electricity. Since January, 017 the Bharat bill payment market has grown by nearly 70 times in over 6 months. Spice Money received an in-principle approval to set-up as a BBPOU under the Payment and Settlement Systems Act, 007 in May 016. In August, 016 the NPCI launched a pilot project for BBPS with 8 BBPS operating unit, Spice Digital being one of the chosen units. The Bharat bill payment system is a Reserve Bank of India (RBI) conceptualized system driven by National Payments Corporation of India (NPCI). It is a one-stop payment platform for all bills providing an interoperable and accessible Anytime Anywhere bill payment service to all customers across India with certainty, reliability and safety of transactions. 11 7

12 CU RRENT CHANGES IN BANKING REGULATION ACT NOTIFIED The government has find a way to initiate insolvency resolution process to recover bad loans by giving authority to RBI through Banking Regulation (Amendment) Act. The banking sector is burdened with non-performing assets (NPAs) of over ` 8 lakh crore, of which ` 6 lakh crore is with public sector banks (PSBs). Under the Banking Regulation (Amendment) Act, 017, the RBI can issue directions to banks for resolution of stressed assets. The RBI had identified 1 accounts each having more than ` 5000 crore of outstanding loans and accounting for 5% of total NPAs of banks for immediate referral for resolution under the bankruptcy law. The bulk of the NPAs are in sectors such as power, steel, road infrastructure and textiles. The loan defaulters identified by the RBI include, Essar Steel, Bhushan Steel, ABG Shipyard, Electrosteel and Alok Industries. RBI PANEL FOR RIGHTS-BASED DATA PRIVACY FRAMEWORK As per RBI panel there is a need to adopt a rights- based privacy framework in household finance announced on August 5, 017. The committee was headed by Tarun Ramadorai, a professor in financial economics at Imperial College London, and had representatives from all financial regulators. RBI suggests adoption of a rights-based privacy framework in contrast with the more common consent-based privacy framework. The new privacy framework should view the creation of a Data Commissioner who will be responsible for redress of grievances as well as for establishment of standards of accountability and transparency. Data controllers (financial firms) will also be responsible for ensuring accountability, transparency, non- discrimination and data security while processing data. The panel suggested a set of standardised norms across regulators for financial advice, supported with a fiduciary standard for financial advisers. RBI ISSUED NEW NOTES OF ` 50 The Reserve Bank of India (RBI) issued new banknotes of ` 50 denomination in the Mahatma Gandhi (New) Series on August 4, 017. The base colour of the new notes is fluorescent blue. RBI also has clarified that all banknotes in ` 50 denomination issued in the earlier series will continue to be legal tender. Its dimension is mm. It has a motif of Hampi with Chariot on the reverse, depicting the country s cultural heritage along with the Swachh Bharat logo, numeral 50 in devnagiri, year of printing and the language panel. The number panel has numerals growing from small to big on the top left side and bottom right side. The banknote will bear the signature of RBI Governor Dr. Urjit R. Patel on the front side along with the guarantee and promise clause and the RBI emblem. 1 RBI ISSUED ` 00 NOTES According to a notification in the Gazette of India, the Modi government has notified introduction of new Rs 00 notes on August 3, 017. The notes are in the Mahatma Gandhi (New) Series, bearing signature of Governor Urjit Patel. Dimension of the banknote is mm. The base colour of the note is bright yellow, reminiscent of the now discontinued ` note. Key Specifications of the Note : Latent image with denominational numeral 00. Portrait of Mahatma Gandhi at the centre. Micro letters RBI, Bharat (in Hindi), India and 00. Windowed security thread with inscriptions Bharat in Hindi and RBI with colour shift. Colour of the thread changes from green to blue when the note is tilted. Denominational numeral with rupee symbol, Rs 00 in colour changing ink (green to blue) on bottom right. On the reverse side Year of printing of the note on the left. Swachh Bharat logo with slogan Language panel Motif of Sanchi Stupa TWO RRBs RECORD OVER ` 150 CRORE PROFIT IN FY17 According to the Reserve Bank of India s Report on Trend and Progress of Banking in India on August, 017, 45 of the 56 Regional Rural Banks (RRBs) earned profits without carrying any accumulated losses during Karnataka Vikas Grameena Bank and Andhra Pragathi Grameena Bank recorded net profit of more than ` 150 crore during The three RRBs promoted by Syndicate Bank Prathama Bank, Karnataka Vikas Grameena Bank, and Andhra Pragathi Grameena Bank have improved their net profit over and emerged in the top league of profit-making RRBs during These RRBs covered 18 districts in three States with a network of 1,563 branches. The RRBs were owned by the Central Government, the State Government and the Sponsor Bank. They held shares in the ratios as follows Central Government 50%, State Government 15% and Sponsor Banks 35%. SBI WAIVED OFF UP TO % PROCESSING FEE The State Bank of India announced on August 1,017 waiver of up to % processing fee on car, gold and personal loans, albeit for limited periods. This is in addition to the existing waiver on processing fee on takeover of home loans. The bank has waived the entire processing fee on car loans till December 31, 017 and half of the processing fee on personal gold loans till October 31,

13 CU RRENT SBI had previously waived off processing fee on the takeover of home loans. Processing fee is a charge that passes on costs to the borrowers for obtaining documentation, appraisals, employment and credit history, or any other information necessary for the lender's underwriting department. SBI TOPS SHARE OF WILFUL DEFAULT TO PSBS The SBI accounts for over 7% of the total amount owed to public sector banks by wilful defaulters as announced on August 0, 017. As many as 1,76 wilful defaulters owed ` 5104 crore to State Bank of India as on March 31, 017, putting pressure on its balance sheet. Punjab National Bank (PNB) is next on the list with 1,10 wilful defaulters having outstanding non-performing assets (NPAs) or bad loans of ` 178 crore. Together these two banks account for ` 3738 crore or 40 % of the total outstanding loans. Total outstanding loans due to public sector banks by wilful defaulters amounted to ` 9376 crore. Gross NPAs of the public sector banks rose to ` 6.41 lakh crore at the end of March 017 as against ` 5.0 lakh crore a year ago. HOME LOANS OF AXIS BANK UNDER SHUBH AARAMBH SCHEME Private lender Axis Bank will waive 1 equated monthly installments (EMIs) on regular repayments of loans of up to ` 30 lakh under the new scheme Shubh Aarambh Home Loans. The news published on August 18, 017. The lender has introduced Shubh Aarambh Home Loans, in which 1 EMIs are waived, 4 EMIs each after the fourth, eighth and 1th year, from the date of the first disbursement. The waiver will be in the form of reduction in tenure. The loans can be used to purchase an under-construction/ready/ resale house, self-construction, and a plot plus construction. Customers also have the option to transfer existing home loans to Axis Bank without additional cost, according to Rajiv Anand, executive director, retail banking. Earlier, the bank had floated Asha home loan for low-income groups. 35 thousand families have availed of the scheme. Customers also have the option to transfer existing home loans to Axis Bank without additional cost. AADHAAR MUST FOR SUBSIDISED FARM LOANS Reserve Bank of India (RBI) has made Aadhar linkage mandatory for farmers who wish to avail short-term crop loans in on August 16, 017. Farmers need to mandatorily link Aadhaar numbers to their accounts to avail subsidised farm loan. The RBI has also announced an interest subvention (subsidy by government) of % for the first year on loans that have been restructured following natural calamities. The interest subvention of % will be calculated on the crop loan amount from the date of its disbursement/drawal up to the date of actual repayment of the crop loan by the farmer or up to the due date of the loan fixed by the banks whichever is earlier. It is for a maximum period of one year. RBI has defined that farmers can avail of short-term crop loans of up to ` 3 lakh at the subsidised interest rate of 7% that could go down to 4% on prompt repayment. An additional interest subvention of 3% will be available for those who pay their pay dues on time. SBI GIVES LEG-UP TO CSR INITIATIVES, ADOPTS 50 VILLAGES State Bank of India launched a CSR initiative on August 14, 017, SBI Gram Seva, which will work in the areas of health, education, environment and rural infrastructure. The SBI Foundation will identify and partner with NGOs to carry out CSR initiatives under which it adopt five villages each from 10 village panchayats with each village getting around `.40 crore over the next 3 years. SBI Chairperson Arundhati Bhattacharya has mentioned that 10 gram panchayats comprising of 50 villages in 6 states have already been adopted, and the bank plans to adopt gram panchayats in the next 3 years. The aim of the project is to link the specific government schemes to the individual in the villages. The bank has launched the project in 10 villages in 6 states Bihar, Jharkhand, Assam, Uttarakhand, Maharashtra and UP. CITIBANK SUED MOBIKWIK FOR NOT PAYING DUES US Bank Citibank has sued digital wallet firm MobiKwik on August 7, 017 over an alleged non-payment of dues worth ` 80 lakh arisen out of a reward programme at Punjab & Haryana High Court. The genesis of the dispute dates back to a MoU signed between the US bank and the domestic wallet firm in 015. The MoU was regarding reward points to be awarded to the bank s customers on the usage of their credit cards for topping up or recharging MobiKwik Wallet. As per the pact, the reward points were first required to be credited to the customer s credit card account by the bank and a percentage of the monetary value of the same was subsequently to be refunded by MobiKwik to the bank. The bank alleged that MobiKwik failed to meet its contractual obligations and refund monetary value of reward points worth ` 80 lakh to the bank despite repeated reminders. 13 9

14 CU RRENT MASTERCARD AND PAYPAL EXPAND PARTNERSHIP INTO ASIA PACIFIC Mastercard and PayPal announced on August 5, 017 to have extended their partnership into Asia Pacific to enhance the consumer experience and make Mastercard a clear payment option with PayPal. The deal will expand PayPal's presence at the point of sale and enable Masterpass for Braintree merchants in the region. Additionally, both companies will collaborate to create opportunities to leverage Mastercard's new payment flow technologies, providing increased value to Mastercard cardholders, financial institutions, and PayPal customers. PayPal will also have the opportunity to give consumers and small businesses across Asia Pacific the ability to cash out funds held in their PayPal accounts to a Mastercard debit card. PayPal Holdings, Inc. is an American company operating a worldwide online payments system. PayPal is one of the world s largest Internet payment companies. PNB CUSTOMERS TO PAY HIGHER CHARGES FOR NON-CREDIT SERVICES PNB customers will have to pay charges for depositing cash above ` 5000 in a non-base branch even if it is located in the same city. The decision came out on August 5, 017. A customer will have to pay Re 1 per ` 0 for above ` 5000 cash deposit or part thereof with a minimum of ` 5 per transaction. It has been decided to revise the non-credit related charges exclusive of GST with effect from September 1, 017 for cash deposit above ` 5000 at other than base branch within the same city. The bank has also revised upwards the cheque returning charges for a payment of ab ove ` 1 crore to ` 000 for first cheque and ` 500 for subsequent bounces. The locker rent is being raised by 5% for small, medium, large and extra-large sizes to ` 1500, ` 3500, ` 5500 and ` 00 respectively, for metro branches. INDUSIND BANK CROSSES ` 1 LAKH CRORE It became the seventh Indian bank whose market capitalisation crossed ` 1 lakh crore. Shares of the bank have surged over 50.36% so far this year (017). The other six banks which crossed the landmark ` 000 crore figure in business turnover are Syndicate Bank, Indian Overseas Bank, UCO Bank, Oriental Bank of Commerce, IDBI Bank and Allahabad Bank. This took the total number of banks that have surpassed the ` 000 crore mark at the end of March 007 to 13. SBI, HDFC, ICICI, Axis Bank are the member of ` lakh-cr market-cap club. IndusInd Bank Limited is a Mumbai based Indian new generation bank, established in KOTAK BANK S NEW FOREX SERVICE Kotak Mahindra Bank has launched Kotak Remit on August 4, 017, an Aadhaar-based integrated outward forex remittance solution for both customers and non-customers. The 4x7 forex remittance service offers a completely paperless process that enables users to register online using Aadhaar and PAN numbers, and initiate remittances instantly. Kotak Mahindra Bank is an Indian private sector bank headquartered in Mumbai, Maharashtra, India. In February 003, Reserve Bank of India gave the licence to Kotak Mahindra Finance Ltd., the group's flagship company, to carry on banking business. CANARA BANK HITS OVERSEAS BOND MARKET Canara Bank has hit the international debt market on August 4, 017 with a benchmark dollar bond issue that will have a tenor of 5 years. Through this issue, Canara Bank will raise $400 million as part of its $ billion medium-term note programme. A medium- term note is a debt note that usually matures (is paid back) in 5 to 10 years. Bond sale will be drawn through London branch of Canara Bank.The bonds will be listed on the Singapore Stock Exchange. Foreign rating agency Moody s has assigned a Baa3 rating to the issue, which is on par with the sovereign rating since majority stake in the bank is owned by the Indian government. Canara Bank is one of the major public sector banks owned by the Government of India.It was established at Mangalore, Karnataka in BANKING REGULATION (AMENDMENT) BILL 017 PASSED The Banking Regulation (Amendment) Bill 017 was passed by the lower house of the parliament on August 3, 016. It will replace the Non-Performing Assets Ordinance, which came into effect earlier this year. Finance Minister Arun Jaitley had introduced a bill in Lok Sabha to amend the Banking Regulation Act The measure allows the RBI to initiate insolvency resolution process on specific stressed-assets. The RBI would also be empowered to issue other directions for resolution, appoint or approve for appointment, authorities or committees to advise the banking companies for stressed-asset resolution. The non-performing assets of banks have increased to more than INR 9 lakh crore and now RBI is empowered to refer the cases to Insolvency and Bankruptcy Board. In June, RBI had identified 1 large loan defaulters who account for 5% of the total bad loans in the Indian banking system. RBI WIDENS BASEL-III-COMPLIANT ASSET BASE OF BANKS Ahead of the implementation of the stringent capital requirements under the Basel-III regime from 019, the Reserve Bank amended a slew of previous regulations on the same, helping banks shore up their capital buffers and improve liquidity coverage ratios. Accordingly, the new amendments widen the assets of banks such as the excess CRR; excess G-secs holdings in SLR; and also excess g-secs under marginal standing facility, which all would now be included in the stock of liquid assets without any limit as also without applying any haircut, the central bank said in a notification. 10

15 SBI TO RAISE ` 000 CRORE VIA BASEL- III BONDS State Bank of India (SBI) plans to raise ` 000 crore by allotting Basel-III compliant bonds to various investors. The committee of directors for capital raising accorded its approval on August 3, 017. It will allot 0,000 AT1 Basel-III compliant non-convertible, perpetual, subordinated bonds in the nature of debentures. As per Basel III norms, banks globally have to improve and strengthen their capital base and planning by January 019. Indian banking system has been complying with these standards in phases since April 013 and fully implement these norms two months after globally agreed date by March 019. RBI SLAPED ` 3 CRORE PENALTY ON UBI RBI has imposed a penalty of ` 3 crore on Union Bank of India (UBI) on July 31, 017 for non-compliance on Know Your Customer (KYC) norms. ` crore was imposed for huge cash withdrawals in certain accounts maintained with UBI and ` 1 crore was imposed for fraud in a bank. In both the cases, upon examination of the documents obtained, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the directions issued by the RBI. Name World s First Diamond Futures Contracts Related Facts CU RRENT KYC is a process by which banks obtain information about the identity and address of customers. This process helps to ensure that banks services are not misused. The KYC procedure is to be completed by the banks while opening accounts. Banks are also required to periodically update their customers KYC details. RBI SETS UP SUPERVISORY COLLEGES FOR SIX SCBS RBI) has informed that Supervisory Colleges have been setup for the following six Scheduled Commercial Banks (SCBs) which have sizeable international presence - State Bank of India, ICICI Bank, Bank of India, Bank of Baroda, Axis Bank and Punjab National Bank. The objectives of the colleges are to enhance information exchange and cooperation among supervisors, to improve understanding of the risk profile of the banking group and thereby facilitate more effective supervision of internationally active banks. India Scheduled commercial banks are those banks which are included in the nd schedule of the RBI Act, These can be public sector banks, private banks, scheduled cooperative banks, regional rural banks or foreign banks operating in India. A risk profile is a quantitative analysis of the types of threats an organization, asset, project or individual faces. A risk profile is important for determining a proper investment asset allocation for a portfolio. Other Importants Events The Indian Commodity Exchange (ICEX) has launched the world s first diamond futures contracts. It is going to be the first diamond exchange in the world announced on August 8, 017. It will provide exporters with a hedging tool. Indian Commodity Exchange Limited is deemed recognized Stock exchange under the Finance Act, 015 pursuant to the central Government notification dated August 8, 015 providing a nation-wide on-line trading platform in commodity derivative. Karur Vysya Bank Private sector Karur Vysya Bank has unveiled the Aadhaar Enrolment Centre in Chennai on August 17, 017. Inaugurates AADHAAR Enrolment Centre KVB is the first private sector bank to provide Aadhaar Enrolment Centre service in the country. Karur Vysya Bank identified the branches and ensured early implementation of the service. SBI Holds Home Loan Utsav in Bengaluru City Union Bank Offers Instant Credit Cards Implementation of Bharat QR Digital Payments Flipkart launched 'Budding Star Programme' HDFC Bank Launches All-in-one PoS Machine IDFC Bank Benefits - Digital Payments Solution ICICI Bank Launched Instant Credit Card Vijaya Bank opens Self-Employment Training Institute SBI Debit Cards Now on Samsung Pay State Bank of India successfully held two-day Home Loan Utsav at its local head office in Bengaluru on August 16, 017. The loan Utsav saw title sponsor was GM Infinite. Subtitle sponsors was Brigade Group, Salarpuria Sattva and DSR Infra. City Union Bank (CUB) is going to offer instant credit cards and customers can generate a credit card online. The news published on August 16, 017. All that a customer has to do is log on to his/her net banking account and seek a credit card. Andhra Pradesh s Eastern Power Distribution Company Ltd (EPDCL) and the Southern Power Distribution Corporation of AP Ltd (SPDCL) have become the first state-owned distribution companies in India to accept payments through Bharat QR on August 4, 017. Flipkart has launched Budding Star Programme for its staff on August 7, 017. This programme is aimed towards helping the employees in achieving their dreams. HDFC Bank announced on August 1, 017 a software upgrade to create a single point-of-sale (PoS) machine which will accept payments through Unified Payments Interface (UPI), Bharat QR, SMS Pay and the bank s mobile wallet, in addition to the traditional mode of swiping cards. IDFC Bank has partnered with digital payments company Zeta on August 9, 017, to launch IDFC Bank Benefits announced. IDFC Bank Benefits is a payment solution for corporates that digitizes employee spends and claims, making the process simple, real-time and paperless. ICICI Bank has announced the launch of Instant Credit Card Service on August 8, 017 that will enable its savings account customers to get a credit card instantly, in a completely digital and paperless manner. Using the Instant Credit Card Service, pre-qualified customers can apply and get credit card number and other important details online. Kishore Sansi, Managing Director and CEO, Vijaya Bank, inaugurated the new self-employment training institute on August 7, 017 in Indore, Madhya Pradesh. Vijaya Bank has disbursed loan sanction letters to beneficiaries who were trained at the Vijaya Bank Self Employment Training Institute (VIBSETI) in Bhenslay Village, Indore. Samsung Pay is now compatible with debit cards from SBI from August 1, 017, the largest and most widely used bank in India. Samsung Pay is a platform that allows the users to make payments by waving the Samsung mobile phone near a cash register instead of swiping a card

16 CU RRENT Agreement Between India & Nepal (August 4, 017) Airports Authority of India ties up with Ola, Uber (August 4, 017) Karnataka and Microsoft (August 4, 017) Qatar Airways and Vistara (August, 017) ICMR signs Deal with IVI (August, 017) Rajasthan govt signed Hindustan Petroleum Corporation Limited (August 19, 017) Oil Marketing Companies (OMCs ) and Energy Efficiency Services Ltd (EESL) (August 18, 017) He Finance Ministry of India and the World Bank (August 18, 017) Government emarketplace (GeM) and Confederation of Indian Industry (CII) (August 15, 017) RCom s merger with Aircel (August 15, 017) SoftBank and Flipkart (August 10, 017) Amazon India and Telengana Handloom (August 9, 017) Netflix and Millarworld (August 9, 017) Uber Ties-Up With Delhi Police (August 7, 017) MobiKwik partners Bajaj Finance (August 6, 017) Microsoft India and Telangana (August 6, 017) Toyota and Mazda (August 4, 017) Union Agriculture Ministry and IRRI (August 3, 017) Flipkart and EBay India (August 3, 017) Airtel-Telenor merger (August 3, 017) Facebook acquired Ozlo (August, 017) Airtel Payment Bank ties up with HPCL (August 1, 017) Related Facts Agreement MoU between India and Nepal on Drug Demand Reduction and Prevention of Illicit Trafficking in Narcotic Drugs and Psychotropic Substances and precursor chemicals and related matters. Under this MoU exchange information of operational, technical and general nature in drug matters, and exchange literature on their existing laws, rules, procedures and any further amendments to the existing legislation. Airports Authority of India (AAI) has tied up with cab aggregators Ola and Uber to allow for cab bookings from airport kiosks. According to this, both Ola and Uber will fulfil commute demand of passengers at the AAI-run Chennai, Kolkata, Pune, Lucknow and Bhubaneswar airports. Karnataka Agriculture Department has signed a MoU with Microsoft India to develop a first unique farm price forecasting model. It is the model that helps to provide real-time market data and helping to analyze its implication on farm sector. Airline Vistara and Persian Gulf carrier Qatar Airways have entered into an interline partnership. Under this partnership they will provide through check-in facility to customers for seamless travel. The Indian Council of Medical Research (ICMR) along with the Union Health Ministry signed a MoU with the International Vaccine Institute (IVI) in South Korea. India officially became a signatory to the treaty of the South Korea-based organisation in 01 also The IVI has 35 signatory countries in total. An agreement to form a joint venture company for Barmer petroleum refinery and petrochemical complex. Rajasthan State Government signed a revised MoU with HPCL for a 9 million metric tonne crude oil refinery at Barmer that would require investments of ` 4319 crore and produce fuels meeting BS-VI specifications. MoU for selling LED bulb for ` 65, tube light for ` 30 and ceiling fan at ` These appliances would be supplied by the three oil marketing companies (OMCs) such as Hindustan Petroleum, Indian Oil and Bharat Petroleum from the Energy Efficiency Services Ltd (EESL). An agreement of $4.64 million from the Global Environment Facility (GEF) of the World Bank for ecosystem service improvement project. The project s duration is for five years. The objective of the Project is to strengthen the institutional capacity of the departments of forestry. This MoU between GeM and CII is aimed at establishing GeM Samvaad a participative and collaborative approach with the industry for promoting Indian industry and entrepreneurship. As part of this initiative, GeM & the Indian industry shall work together to create GeM related awareness. The National Company Law Appellate Tribunal (NCLAT) has approved the merger of Reliance Communications (RCom) and Aircel announced. RCom will merge into Aircel and a new entity will be created called Aircom, with both partners having 50% equity stakes. NCLAT is a quasi-judicial body in India that adjudicates issues relating to companies in India. Softbank fund invests in Flipkart and becomes one of its largest shareholders. It has announced an investment, a mix of primary and secondary capital, from SoftBank Vision Fund (Vision Fund), the world s largest technology-focused investment fund. Amazon India has signed a Memorandum of Understanding (MoU)with the Telangana Department of Handloom and Textiles. The MoU is signed to educate, train and enable weavers and artisans to directly sell their products to Amazon customers across the country. Online entertainment platform Netflix has announced that it has acquired Millarworld, a comic book company. Millar world was started the company and its co-creators have created 18 published character worlds. Uber is collaborating with Delhi Police to allow quick access to Himmat, a women safety mobile app, through the rider app. This is Delhi Police s first partnership with a technology company to intensify its focus on the safety of women in the city. In a bid to emerge as a top consumer finance brand in the digital space, mobile wallet major MobiKwik has entered into a strategic partnership with Bajaj Finance. Partnership to transform itself into a financial services app from a payments app at present. The Microsoft India has tied up with the state of Telangana to use its artificial intelligence-based MINE platform to screen children for eye problems and prevent avoidable blindness. With this tied up, Telangana has become the first Indian state to deploy artificial intelligence for eyecare screening. Japanese auto giant Toyota and smaller rival Mazda agreed a capital tie-up to focus on joint development of electric vehicles. The move comes as the automotive industry is faced with a major shift towards greener transport and greater use of information technology. Union Agriculture Ministry signed a memorandum of association (MoA) for setting up a regional centre of the IRRI in Varanasi, Uttar Pradesh to develop high- yielding rice varieties. E-commerce major Flipkart said it has completed the merger with ebay India s operations. With this, ebay.in will now be a Flipkart Group company. The National Company Law Tribunal (NCLT) has approved the proposed merger between Bharti Airtel and Telenor India. Through this merger, Airtel expand its overall customer base and network. In June, the merger received approval from the Securities and Exchange Board of India (SEBI). To build out a more elaborate personal assistant for the Messenger users, Facebook has acquired an artificial intelligence (AI) startup Ozlo. Ozlo specialises in understanding text-based conversations. Airtel Payments Bank, India s first payments bank has announced a strategic partnership with Hindustan Petroleum Corporation Limited (HPCL). Under which 14,000 HPCL fuel stations will act as banking points for Airtel Payments Bank. 16 1

17 CURRENT REVIEW NEWS KIT APPOINTMENT ASHISH CHAUHAN The Bombay Stock Exchange (BSE) has approved another 5-year term for its chief Ashish Chauhan on August 9, 017. Ashish Chauhan was joined in BSE as deputy CEO in 009. He became MD and CEO for a period of five years with effect from November, 01. The board approved re-appointment of Ashishkumar Chauhan as BSE s Managing Director and CEO for an another period of 5 years from November, 017, to November 1, 0. MOHAMMAD MUSTAFA Small Industries Development Bank of India (SIDBI) has appointed Mohammad Mustafa as the Chairman and Managing Director announced on August 8, 017. The Appointments Committee of the Cabinet has approved his appointment to the post for 3 years. Small Industries Development Bank of India is an independent financial institution aimed to aid the growth and development of micro, small and medium-scale enterprises (MSME) in India. Set up on April, ROOPA PURUSHOTHAMAN Tata Sons has appointed Roopa Purushothaman as Chief Economist and Head of Policy Advocacy who will join the group with effect from September 1, 017. Purushothaman joins Tata Sons from Everstone Capital, where she was leading the research function. In her role, Purushothaman will drive macro-economic research and all policy and advocacy initiatives as relevant to the businesses of the Tata group. Before that, she was with Goldman SachsInternational as Vice President & Global Economist. NACHIKET MOR Nachiket Madhusudan Mor, Country Director of Bill & Melinda Gates Foundation was re-appointed as a member of the Eastern local board of the RBI on August 4, 017. According to an order issued by the Department of Personnel and Training (DoPT), he was also nominated for a director of the central board of directors of RBI. His appointment will be a period of 4 years and it is effective from August 4, 017. NANDAN NILEKANI Nandan Nilekani co-founder of India s second-largest software services exporter Infosys has appointed as non-executive chairman of the board on August 5, 017. Nandan Nilekani has done electrical engineer from IIT Bombay. Nilekani was the CEO at Infosys from 00 to 007 and also served as co-chairman of the board before his departure in 009 to head the Aadhaar project. AJAY VIPIN NANAVATI Ajay Vipin Nanavati was appointed as the chairman of Syndicate Bank on August 1, 017. The appointments committee of the cabinet has approved his appointment as non-official director/ non-executive chairman of Syndicate Bank for 3 years, according to an order issued by the department of personnel and training. In 015, the government had bi-furcated the posts of chairman and managing director in public sector banks. Syndicate Bank is one of the oldest and major commercial banks of India. It was founded by TMA Pai, Upendra Pai and Vaman Kudva. RAJIV BANSAL The government has appointed Rajiv Bansal as the Chairman and Managing Director of Air India on August 3, 017. He will serve for 3 months. He is additional secretary and financial adviser of the petroleum ministry. He will replace Ashwani Lohani who has been appointed as the Chairman of Railway Board. Air India is the flag carrier airline of India. It is owned by Air India Limited, a government-owned enterprise, and operates a fleet of Airbus and Boeing aircraft serving 90 domestic and international destinations. PR SESHADRI The RBI has accorded their approval on August 0, 017 for the appointment of PR Seshadri as Managing Director & Chief Executive Officer of the Karur Vysya Bank (KVB). He replaced K Venkataraman. He is appointed for the period of three years. Karur Vysya Bank is an Indian private-sector bank, headquartered in Karur in Tamil Nadu. It was set up in 1916 by MA Venkatarama Chettiar and Athi Krishna Chettiar. 35 1

18 CU RRENT O. PANNEERSELVAM Senior AIADMK leader O. Panneerselvam was sworn in as the deputy Chief Minister of Tamil Nadu on August 1, 017. He has taken an oath by Governor Vidyasagar Rao at Raj Bhavan. The factions of the All India Anna Dravida Munnetra Kazhagam (AIADMK) merged, 6 months after they split following the death of then Chief Minister J. Jayalalithaa. Paneerselvam was made the Coordinator of the merged AIADMK. He was sworn in as the 13th Chief Minister of Tamil Nadu in September 001. He served as the Chief Minister of Tamil Nadu in 001-0, , and from December 6, 016 to February 16, 017. MAMTA SURI Dr. (Ms.) Mamta Suri took charge as Executive Director, Insolvency and Bankruptcy Board of India (IBBI) in New Delhi on August 17, 017. Dr. Suri was serving as Chief General Manager, Insurance Regulatory Development Authority of India (IRDAI). IBBI was set up on October 1, 016 under the Insolvency and Bankruptcy Code, 016 (Code).IBBI is the regulator for overseeing insolvency proceedings and entities like Insolvency Professional Agencies, Insolvency Professionals and Information Utilities in India. DIPAK MISRA Justice Dipak Misra sworn as the 45th Chief Justice of India by President Ram Nath Kovind on August 8, 017. He succeeded incumbent Justice J S Khehar, who retired on August 7, 017. He will be retiring on October, 018. After this appointment, Justice Misra became the third person from Odisha to be appointed as the Chief Justice of India after Justices Ranganath Misra and GB Pattanaik. He is currently serving as the Executive Chairman of the National Legal Services Authority (NALSA). He served as Chief Justice of the Patna high court, Delhi High Court and then elevated to the Supreme Court. HRITHIK ROSHAN Bollywood films actor Hritik Roshan has been signed as a brand ambassador by a health and wellness startup Cure.fit announced on August 8, 017. The deal is worth ` crore. The actor will be associated with the brand for five years. Roshan s deal with Cure.fit is the latest among startups signing on celebrities for brand recall and positioning. Roshan has started selling fashion products under HRX brand exclusively on Myntra which also acquired a 51% stake in the brand. S. APARNA Senior bureaucrat S Aparna, presently Principal Secretary to Gujarat Chief Minister Vijay Rupani, has been appointed as an Executive Director in the World Bank on August 6, 017. She has been appointed to the post for three years, an order issued by the Department of Personnel and Training. Aparna has been appointed in place of S C Garg, who has recently taken over as Secretary, Department of Economic Affairs, in the Union Finance Ministry. World Bank is an international financial institution that provides loans to its member countries for developmental projects. GAUTAM KAUSHIK Payback India has appointed Gautam Kaushik on August 4, 017 as the new Chief Executive Officer (CEO). He will spearhead Payback s India operations. Gautam Kaushik s primary focus would be towards driving engagement through new touch points and creating transformational customer experiences at Payback India. Payback is a multi-brand loyalty program in India. PETER O NEILL Peter O Neill has been reappointed as Prime Minister of Papua New Guinea announced on August, 017. He is the leader of the People s National Congress and represents the constituency of Ialibu-Pangia. Papua New Guinean kina (PGK) is the currency of this country and Port Moresby is the capital. SANJAY BARU Sanjaya Baru has appointed as the Secretary General of the Federation of Indian Chambers of Commerce and Industry (FICCI) on August, 017. Sanjay will assume the charge from September 1, 017. He succeeds A Didar Singh. Baru had earlier served as the media advisor to former Prime Minister Manmohan Singh from May 004 until August 008. In April 014, he released his book The Accidental Prime Minister. The FICCI is an association of business organizations in India. SHAHID KHAQAN ABBASI Shahid Khaqan Abbasi is elected interim Prime Minister of Pakistan after defeating his rival Naveed Qamar of PPP by 1 votes on August 1, 017. He is the member of the Pakistan Muslim League (N)(PML-N). Abbasi was chosen by Nawaz Sharif as an interim Prime Minister for 45 days which would allow significant time for Shehbaz Sharif to contest elections from Nawaz s vacated constituency, be elected to the National Assembly and become eligible to hold the office of Prime Ministership. Previously, Abbasi served as the Minister of Petroleum and Natural Resources in the third Sharif ministry from 013 to 017. Nawaz Sharif was disqualified as the Prime Minister by the Supreme Court in July 017 in connection with Panama Papers scam. JUSTICE BN SRIKRISHNA The Ministry of Electronics and Information Technology (MeitY) has appointed an expert panel committee on August 1, 017 that would study various issues relating to data protection in the country and will suggest a draft data protection Bill. 36

19 CU RRENT It is a 10 member panel and it is headed by Supreme court Judge (retired) Justice BN Srikrishna. The committee will design a broader framework which will cover all other kinds of data and ensure that the deliberations on the issue start as soon as possible. Ajay Bhushan Pandey is CEO of Unique Identification Authority of India, (UIDAI) also member of this committee. UIDAI is the nodal agency for implementing Aadhaar. DHIRENDRA SWARUP The SEBI has approved the appointment of Dhirendra Swarup as the chairman of the board of directors of the Bombay Stock Exchange (BSE) with effect from July 31, 017. Swarup, who was a public interest director at the BSE, had replaced incumbent SudhakarRao. He was the chairman of the Cash and Debt Management Committee of the Reserve Bank of India (RBI) from 000 to 003. He was the former Chairman of Pension Funds Regulatory and Development Authority (PFRDA). SUNIL SUBRAMANIAM Former Tamil Nadu (TN) cricketer Sunil Subramaniam appointed as Team Manager of Indian senior team on July 8, 017. This is the first instance of the India team getting a full-time, professional manager, marking a departure from the system of ad-hoc appointments made by the BCCI on a tour-to-tour basis. Sunil as a cricketer claimed 85 wickets at an average of 3.53 with 0 five-wicket hauls and four 10-wicket match hauls to his credit. During the latter half of his first-class career, Sunil went on to represent Assam. Other Appointments Person Post Related Facts Ashwani Lohani (August 3,017) IV SubbaRao (August 15, 017) Emandi Sankara Rao (August 15, 017) Santosh Sharma (August 15, 017) Rahul Dravid (August 1, 017) Hemant Narayan Bhagwat (August 1, 017) Chairman, Railway Board Secretary to Vice President Managing Director and Chief Executive Officer of IFCI Ltd. Lohani holds Limca Book of Records for four engineering degrees in mechanical, electrical, metallurgical and Electronics and Telecommunications streams. Retired IAS officer IV Subba Rao was appointed secretary to Vice President M Venkaiah Naidu. Satya Kumar, a non-official who has been working with Naidu for many years, will be Officer on Special Duty (OSD) to the vice president. He is at present working as Director and Chief Executive Officer of IIFCL Asset Management Company Ltd. Rao has been appointed to the post for a period of 3 years. Chairman and The Appointments Committee of the Cabinet (ACC) has Managing Director approved his appointment to the post for a period of 5 years. of HCL An order issued by the Department of Personnel and Training (DoPT). Brand Ambassador of InCred RESIGNATION Air Officer-in-Charge Administration of Indian Air Force VISHAL SIKKA Vishal Sikka has resigned from his post as Managing Director and CEO of Infosys on August 18, 017. UB PravinRao has been appointed as the interim MD and CEO of the company. He had just completed three years as the CEO of Infosys. Infosys Limited (formerly Infosys Technologies Limited) is an Indian multinational corporation that provides business consulting, information technologyand outsourcing services. It has its headquarters in Bengaluru, India. The Mumbai-based one of the largest rounds of funding of a start-up in the Indian financial services industry recently. The company gives loans in four categories affordable housing loans, consumer loans, education loans and SME loans. Air Marshal has taken over as Air Officer-in-Charge Administration at Air Headquarters, New Delhi. He was awarded Vayu Sena Medal by the President of India in 005 and the Ati Vishist Seva Medal by President of India for distinguished service of a very high order. ARVIND PANAGARIYA Vice-Chairman of NITI Aayog Arvind Panagariya, announced his resignation from the post on August 1, 017. Panagariya has revealed that he will return to the field of academics in the USA. His last working day in office would be August 31, 017. Panagariya was the first one to hold the post of Vice- Chairman in Niti Aayog and was appointed to the position in January, 015. NITI (National Institution for Transforming India) Aayog came into effect on January 1, 015. The BJP government established this scheme replacing the 65-year-old Planning Commission. PERSON DIED AHMED KHAN Veteran footballer Ahmed Khan, India's oldest football Olympian, passed away on August 7, 017. Khan represented India in two Olympic Games 1948 in London and 195 in Helsinki Finland apart from two Asian Games in Delhi and 1954 in Manila. He played for East Bengal from 1949 to 1959 and captained the club in He won the IFA Shield four times; the Calcutta League, the Durand Cup and the DCM Trophy thrice each; and Rovers Cup, the PK Nair Gold Cup and the HK Mookherjee Shield once each. 37 3

20 CU RRENT SANWAR LAL JAT Sanwar Lal Jat, former Union Minister and BJP MP from Ajmer passed away on August 9, 017. Jat had served as Minister of State for Water Resources in the Narendra Modi government. The leader was appointed as the Chairman of the state Farmers Commission in October 016. Jat had defeated the Sachin Pilot from Congress in Ajmer during the 014 LokSabha polls. SANTOSH MOHAN DEV Senior Congress leader and former Union minister Santosh Mohan Dev has passed away on August, 017 in Silchar, Assam. Santosh served as the Minister of Heavy Industries and Public Enterprises under the UPA-1 government led by Manmohan Singh. He was a 7 time parliamentarian and was believed to be one of the most trusted ministers of Rajiv Gandhi. PUSHPA MITRA BHARGAVA Pushpa Mitra Bhargava, a veteran molecular biologist and a ardent critic of Genetically Modified crops, passed away on August 1, 017 due to a prolonged illness. He was the Founder-Director of Hyderabad-based Center for Cellular and Molecular Biology (CCMB). Dr. Bhargava played an important role in having scientific temper incorporated as a fundamental duty of the citizens of India, in the 4nd constitutional amendment in He received more than national and international honors and awards, including the Padma Bhushan in 1986 and the Legion d'honneur in 1998 of France. Person Ramanda Sengupta (August 4, 017) Rishang Keishing (August, 017) S. Paul (August 17, 017) Sitaram Panchal (August 10, 017) Gyan Singh Sohanpal (August 9, 017) Vishvjit P. Singh (August 8, 017) Jyoti Gupta (August 3, 017) Ustad Hussain Sayeeduddin Dagar (July 30, 017) Other Person Died Related Facts India s oldest cinematographer has passed away in Kolkata. His first film as a full-time cinematographer was in Purbaraag directed by Ardhendu Mukherjee in Who had served as an MLA for7 terms and became chief minister of the state 4 times, passed away at Imphal. He was sworn in as chief minister of Manipur for the first time on 7th November He is a veteran Photographer has passed away in Patparganjon. Hewas born in Jhang in Pakistan and moved to India after partition and his family shifted to Shimla. Bollywood actor Sitaram Panchal passed away after a three-year long battle with kidney and lung cancer. Sitaram, who made his Bollywood debut in 1994 with Bandit Queen, was best known for his work in films like Peepli Live, Pan Singh Tomar, The Legend of Bhagat Singh and Slumdog Millionaire. Veteran Congress West Bengal MLA Gyan Singh Sohanpal has passed away. Gyan Singh was fondly called Chacha. He was also a former minister in the Congress government in the state. Rajya Sabha mourned the death of its former member Vishvjit P. Singh. He had represented Maharashtra for two consecutive terms from April 198 to April 1988 and April 1988 to April An India international hockey player, Jyoti Gupta a 0-year-old has committed suicide. Jyoti hails from Sonepat and had represented India in the South Asian Games in 016. Maestro and custodian of the venerable Dhrupad tradition of Hindustani classical music, has passed away in Pune, Maharashtra. He was known affectionately to his legions of disciples and admirers as Saeed Bhai. PERSON IN NEWS DR. V. KAMAKOTI Commerce and Industry Minister Smt. Nirmala Sitharaman has constituted a Task Force on Artificial Intelligence (AI) on August 4, 017 for India s Economic Transformation. The task force will have the Chairperson Dr. V. Kamakoti, IIT Madras. The panel will comprise of experts, academics, researchers and industry leaders and will explore possibilities to leverage AI for development across various fields. As per the Nirmala Sitharaman driven by the power of big data, high computing capacity, artificial intelligence and analytics Industry aims is to digitise the manufacturing sector. PLACE IN NEWS RAJOURI (JAMMU & KASHMIR) The Jammu and Kashmir government has decided on August 5, 017 to set up an Eco-Park on over 34 acres of land retrieve from encroachers in the state s Rajouri district announced. The park is a first-of-its-kind project in the region. It will have a botanical garden, a cactus garden, a cafeteria and other amenities. The project has been planned under the convergence of local resources and it is expected to be completed by end of 017. About, 34 acres of land has been included in the Eco- Park project will come up at the Kandi belt of Rajouri. NUNGTHAANG TAMPAK (MANIPUR) Manipur s Nungthaang Tampak village has emerged as the % computer literate in the entire North East announced on August 4, 017. The village, about 65 kms south of Imphal, is located in Saikot Assembly constituency of Churachandur district. 38 4

21 CU RRENT Nungthang Tampak has become India s second % computer literate village in India. Kerala s Chamravattom village is the country s first % computer literate village. The villagers were taught how to surf, compose text, save them, photoshop, send , store data and get print outs, etc. DELHI According to Asian Cities & Regions Outlook 016 by Oxford Economics on August 9, 017, Delhi will have the fastest growth among all Asian cities with the economy growing almost 50% larger in 01 than it was at the end of last year (016). As per the study from Oxford Economics which ranked Asia s 30 largest cities, Indian cities are set to expand the most across the region, with growth speeding up from the past 5 years. Tianjin is forecasted to clock the fastest growth in China. DJIBOUTI (AFRICA) China has formally launched its first overseas naval facility in Djibouti, an East African nation on August 1, 017. The event marked the 90th anniversary of the Chinese military. The base is set to enable China to better support its patrols in waters off Somalia and Yemen and carry out international humanitarian operations as well as naval exercises. Djibouti is a tiny East African nation of around 887,000 people, is between Ethiopia, Eritrea, and Somalia. It also hosts US, French, and Japanese military bases. BOOKS & AUTHORS Book (Author) I Do What I Do: On Reform, Rhetoric and Resolve (Raghuram Rajan) I am HIV positive, so what? (Pradipkumar Singh) Kadve Vachan (Tarun Sagar Maharaj) Related Facts According to publisher HarperCollins besides Rajan s commentary, it will also include speeches that convey what it was like to head the central bank during his time. About the book Rajan explains economic concepts in a readily accessible way. The book is from Mr. World bronze medal-winning bodybuilder, Pradipkumar Singh known for his personal struggle against HIV AIDS. Pradipkumar, who was diagnosed as HIV positive in 000, had come out publicly about his condition in 007. The world s shortest woman Jyoti Amge has presented a 51-feet high book at a programme.the book is written by Jain saint Acharya. The book contains various bitter discourses about life and guides people for better living. DATES & DAYS 01 August World Breast Feeding Day 06 August World Peace Day, Hiroshima Day 08 August World Senior Citizen Day 09 August Quit India Day, Nagasaki Day 1 August World Youth Day 15 August Independence Day (India) 19 August World Photography Day, World Humanities Day 0 August National Sadbhawana Divas 9 August National Sports Day (Birth Day Of Dhyanchand) 30 August Small Industry Day 39 5

22 Institute of Banking Personnel Selection IBPS PO/MT General Instructions Directions (Q.Nos. 1-10) Read the following passages carefully and answer the questions given below it. Certain words/phrases have been printed in bold to help you to locate them while answering some of the questions. Despite the economic crunch worldwide that saw pulverisation of some of the largest banking and finance giants, Indian banking houses have managed to show positive growth this quarter. Some of India s leading national banks have posted a net profit rise of more than 40% over the last quarter amid global turmoil. This would come as a big shot in the arm for the investors and consumers of these banks even though apprehension is mounting on other banking and broking firms worldwide. One of the main reasons behind the success of these banks this quarter, would be their direct backing by the government of India. People take solace in their investments in public sector watching the bailout packages being cashed out by governments all over the world to save big business houses. Other private banks in India have also reported a substantial net profit over the last quarter. Given the international and domestic scenario one cannot put this down as a mundane achievement. While others are on a cost cutting spree and firing employees, Indian Companies are actually working on boosting staffing in banking and broking sectors. This can be seen as a big boon in the days to come when the current recession eases and the economy gradually comes back on to the fast track. The finance minister has assured Indian public about the sound health of all Indian banks. MOCK PAPER-4 ONLINE EXAM OCTOBER 7-8/14-15, 017 Pre. (Phase I) Online Exam 017 This crack set consists of questions in three parts. All questions are compulsory. Answer the questions quickly and as carefully as you can. Some questions may be difficult and others easy. Do not spend too much time on any question. Time 60 Min. Max. Marks Part Subject Number of Questions I English Language 30 II Quantitative Aptitude 35 III Reasoning Ability 35 Part I English Language This could also be evident from the fact that there have been no mergers and takeovers in Indian Banking sector in a contrast to world scenario where finance houses are looking for mergers to cut costs on operations. We definitely are not looking to thrive; rather we are looking for growth. It is just that the pace of growth is a little slow now as compared to a year or two before. These are hard times to test the hard. The weak in business and career will be weeded out and it is sometimes very beneficial for business on the long run. 1. What according to the author, is the reason for the success of Indian National banks in this quarter? a. Indian National banks do not have any commitments in troubled foreign markets. b. These banks can never face financial crisis because of their sheer size. c. These banks are ready to give loans at a very low rate of interest. d. The public is ready to invest in these banks because of the knowledge that these banks get strong support from the government. e. None of the above. Which of the following statements is definitely true in the context of the passage? A. India has not been affected by the economic slowdown. 47

23 B. Indian Banks are showing growth in this quarter despite the recession. C. While banking industry in the West was severely affected by recession in the past, it is now gradually recovering and showing a positive growth. a. Only A b. Only B c. Only C d. A and B e. B and C 3. What, according to the author, will be a big boon in the days to come? a. The economy coming back on the fast track b. The slowing down of the economy c. Increased hiring in Indian financial sector in times of economic slowdown d. The cost cutting carried out by all the companies e. None of the above 4. Which of the following strengthens the Finance Minister s statement about the sound health of Indian Banks with respect to the passage? A. There have been no acquisitions and mergers of Indian Banks. B. The Indian Banks are recording a positive growth. C. Layoffs have been observed worldwide. a. A and B b. A and C c. Only A d. Only B e. All of these 5. How according to the author, is the current recession beneficial? a. Worldwide, companies have realised that India is a strong power to reckon with. b. India is surging ahead of the other companies throughout the world. c. After the recession is over international companies will turn to India for investment. d. Recession is bringing down the prices of essential commodities. e. None of the above 6. What does the phrase shot in the arm as used in the passage mean? a. Shock b. Fear c. Encouragement d. Anxiety e. None of these Directions (Q.Nos. 7-8) Choose the word which is most similar in meaning to the word printed in bold as used in the passage. 7. Pulverisation a. Polarisation b. Mashing c. Debasement d. Fall e. Crushing 8. Turmoil a. Danger b. Shock c. Sadness d. Fear e. Chaos Directions (Q.Nos. 9-10) Choose the word which is most opposite in meaning to the word printed in bold as used in the passage. 9. Mundane a. Extraordinary b. Regular c. Severe d. Visionary e. Routine 10. Thrive a. Succeed b. Deteriorate c. Worry d. Tremble e. Strive Directions (Q.Nos ) Read each sentence to find out whether there is any grammatical error or idiomatic error in it. The error, if any, will be in one part of the sentence. The letter of that part is the answer. If there is no error, the answer is (e) (Ignore errors of punctuation, if any) 11. The government has/(a) launched many creative schemes/(b) tomake banking services/(c)available to everyone. (d) No error (e) 1. We have received many (a)/of the letters from customers/(b) asking us to extend/(c) the deadline to repay their loans. (d) No error (e) 13. Under the terms of the new deal/ (a) the channel can broadcast/(b) the next cricket tournament to be/(c) played among India and Australia. (d) No error (e) 14. This is turned out to be/ (a) one of our most successful projects/ (b) and we have made quite/ (c) a large profit from it. (d) No error (e) 15. A non banking financial company is a/ (a) financial institution similarly to a bank/(b) but it cannot issue/(c) cheque books to customers. (d) No error (e) Directions (Q.Nos. 16-0) Which of the phrases (a), (b), (c) and (d) given below each statement should replace the phrase printed in bold in the sentence to make it grammatically correct? If the sentence is correct as it is given and No correction required, mark (e) as the answer. 16. An NGO is working towards providing free education to the girl child so that every girl can stand on their own feet. a. stands on their own b. stand on her own c. stand in her own d. stand on their own s e. No correction required 17. The animal rescuers anaesthetised the dog which had been with great pain after having met with an accident. a. which had been in b. which is being with c. who had been in d. who has been at e. No correction required 18. In its final decision, the court ruled that all the allegations levelled for the accused were false and baseless. a. allegation levelled against the b. allegations level against that c. allegations levelled against the d. allegation levelled with that e. No correction required 19. If I leave early from home, I could have made it on time to the airport. a. If I would leave early b. Had I leave earlier c. If I could left early d. Had I left earlier e. No correction required 0. Thousands of fire-fighters were deployed at the factory when a fire suddenly broke out due to a short circuit. a. on the factory when b. at the factory while c. at that factory when d. in the factory while e. No correction required 48

24 Directions (Q.Nos. 1-5) Rearrange the following sentences A, B, C, D, E and F to make a meaningful paragraph and then answer the questions which follows. A. Had it been not for them, Indian banks would have had their hands tied down. B. Today, almost all the countries are facing the heat of recession. C. One of these is the strict RBI and SEBI rules which regulated banking sector very efficiently. D. This could have led to massive losses to them, which could have percolated to other sectors as well. E. However, there are a few things which help India in bouncing back from the state of recession. F. Like others, India too has not remained immune to the epidemic. 1. Which of the following sentences should be the THIRD after rearrangement? a. A b. E c. D d. F e. C. Which of the following sentences should be the FIRST after rearrangement? a. A b. B c. C d. D e. E 3. Which of the following sentences should be the SECOND after rearrangement? a. A b. B c. D d. E e. F 4. Which of the following sentences should be the SIXTH (LAST) after rearrangement? a. A b. E c. D d. B e. F 5. Which of the following sentences should be the FIFTH after rearrangement? a. B b. C c. A d. E e. F Directions (Q.Nos ) What will come in place of the question marks in the following questions? ? = 1111 a b c d e. None of these =? a b c d e. None of these 33. [( 130) 5 15] 30? a. 35 b. 314 c. 36 d. 338 e. None of these 34. (6.5% of 375) (0.85% of 30 ) =? a. 3.4 b. 4.4 c d e. None of these Directions (Q.Nos ) What approximate value should come in place of the question marks in the following questions? (You are not expected to calculate the exact value.) =? a. 38 b. 18 c. 68 d. 84 e =? a. 4 b c d e Directions (Q.Nos. 6-30) In the following passage, there are blanks, each of which has been numbered. These numbers are printed below the passage and against each, five words are suggested, one of which fits the blank appropriately. Find out the appropriate word in each case. The (6) of India as an economic superpower is not reflected in the (7) of life enjoyed by its 1. billion citizens according to the Human Development Index which (8) India very low among 18 countries. In our performance oriented world, measurement issues have taken on (9) importance as what we measure affects what we do. In fact, the French President has established an international commission on the Measurement of Economic Performance and Social Progress-owing to his (30) and that of others with the current state of statistical information about the economy and society. 6. a. tribute b. pursuit c. perception d. conversion e. title 7. a. loss b. quality c. spirit d. span e. joy 8. a. counted b. scored c. qualified d. regard e. ranked 9. a. negligible b. great c. unduly d. trivial e. considerably 30. a. obedience b. confidence c. belief d. dissatisfaction e. compliance Part II Quantitative Aptitude =? a. 470 b. 300 c. 400 d. 370 e Veena obtained an amount of ` 8376 as simple interest on a certain amount 18% per annum after 6 years. What is the amount invested by Veena? a. ` b. ` c. ` d. ` e. None of these 39. Two numbers are such that the sum of twice the first number and thrice the second number is 36 and the sum of thrice the first number and twice the second number is 39. Which is the smaller number? a. 9 b. 5 c. 7 d. 3 e. None of these 40. The difference between the present ages of Arun and Deepak is 14 years. 7 years ago, the ratio of their ages was 5 : 7 respectively. What is Deepak s present age? a. 49 yr b. 4 yr c. 63 yr d. 35 yr e. None of these 41. a, b, c, d and e are 5 consecutive even numbers. If the sum of a and d is 16, then what is the sum of all the numbers? a. 400 b. 380 c. 40 d. Can t be determined e. None of these

25 each member seated in a row faces another member of the other row. G sits second to right of E. The one who faces E sits to the immediate right of C. A faces the immediate neighbour of E. H sits to immediate left of the person who faces D. H does not sit at an extreme end of the line. 89. Who amongst the following faces A? a. E b. F c. G d. H e. Cannot be determined 90. Who amongst the following faces the person who sits exactly between G and E? a. A b. B c. C d. D e. Cannot be determined 91. Who amongst the following faces G? a. A b. B c. C d. D e. Cannot be determined 9. Which of the following is true regarding B? a. B sits exactly between C and D. b. D sits second to right of B. c. B sits at an extreme end of the line. d. B is an immediate neighbour of the person who faces F. e. None is true. 93. Four of the following five are alike in a certain way based on the given seating arrangement and thus form a group. Which is the one that does not belong to that group? a. E b. D c. F d. G e. A Directions (Q.Nos ) Study the following arrangement carefully and answer the questions given below. R 3 A M % D 1 B U F I K E δ W P 4 8 V Q 9 6 Y Four of the following five are alike in a certain way based on their positions in the above arrangement and so form a group. Which is the one that does not belong to that group?. If S scored 3 marks less than the marks scored by Q, which of the following could possibly be R s score? Hints & Solutions a. MDA b. 6 9 c. 4VP d. FK@ e. J@U 95. Which of the following is the twelfth to the right of the sixth from the left end of the above arrangement? a. E b. δ d. e. None of these 96. How many such numbers are there in the above arrangement, each of which is immediately preceded by a consonant and immediately followed by a symbol? a. None b. One c. Two d. Three e. More than three 97. If all the symbols are dropped from the above arrangement, which of the following will be the thirteenth from the left end? a. K b. E c. I d. F e. None of these Directions (Q.Nos. 98-) Study the following information to answer the given questions. Amongst five friends P, Q, R, S and T, each scored different marks in an examination out of a total of marks. S Scored more than only T. R scored less than P. Only one person scored more than Q. The one who scored second highest marks scored 87 marks. 98. Who scored the third least marks in the examination? a. P b. Q c. R d. S e. T 99. Which of the following is true with regard to the given information? a. Only one person scored more than P. b. No one scored less than T. c. R scored more than both Q and S. d. Amongst the five friends, S is most likely to have scored 95 marks in the examination. e. None is true. a. 64 b. 93 c. 61 d. 89 e (d) The second last sentence of the first paragraph gives us the answer.. (b) The first sentence of the passage supports (B). 3. (c) Refer to the third and the fourth sentences of the second paragraph. 4. (e) 5. (e) Refer to the last sentence of the passage. 6. (c) shot in the arm means encouragement in the passage. 7. (e) In the passage pulverization means to crush or to destroy. So, crushing is most similar in meaning to it. 8. (e) In the passage turmoil means a state of great confusion and uncertainty. Of the given alternatives, Chaos means a state of 53 complete confusion and lack of order. So, Chaos is most similar in meaning to it. 9. (a) In passage mundane means ordinary. so, extraordinary is most opposite in meaning to it. 10. (b) In the passage thrive means to grow successfully. So, deteriorate is most opposite in meaning to it. 11. (d) Preposition for should be used in place of to. 1. (b) Remove of the. Its use is superfluous. 13. (d) Use between in place of among. Among is used for more than two and between is used for two. 14. (a) Use has in place of is. The sentence is in Perfect Tense. 15. (b) Use similar in place of similarly. Here, an adjective is required and not an adverb. 16. (b) stand on her own makes the sentence grammatically correct. 17. (a) For dog relative pronoun which will be used and usually in great pain is used. 18. (c) The sentence is in past tense, so second form of level will be used and proposition against will be used. 19. (d) Had I left earlier makes the sentence grammatically correct. 0. (e) Solutions (Q.Nos. 1-5) The proper sequence of sentences to form a meaningful paragraph will be BFECAD. 1. (b). (b) 3. (e) 4. (c) 5. (c)

26 6. (c) perception fits the blank appropriately. 7. (b) 8. (e) 9. (c) 30. (c) 31. (d)? = = (c)? = = = (d)? = [( 130) 5 15] 30 = [( 16900) 5 15] 30 = = (e)? = (6.5% of 375) (0.85% of 30) = = (c)? = (d)? (c)? = (d) Principal amount SI 8376 = = = ` T R (e) Let, the numbers be x and y. x + 3y = 36...(i) 3x + y = (ii) On multiply by Eq. (i) and multiply by 3 in Eq. (ii), 4x + 6y = 7...(iii) On subtracting 9x + 6y = (iv) 5x = 45 x = y = y = = (e) Let the present ages of Arun and Deepak be x year and y year, respectively. y x = 14; x = y 14 x 7 5 and = y x 49 = 5y 35 7 ( y 14) 49 = 5y 35 7 y = 5y 35 7 y 5y = y = 56 yr 41. (e) a = a, b = a +, c = a + 4 d = a + 6 and e = a + 8 a + d = a + a + 6 = a = = 78 Sum of all numbers = = (e) Curved surface area of cylinder = πrh Curved surface area of hemisphere = πr Curved surface area of cone = πrl = πr r + h Therefore, required ratio = πrh : πr : π r r + h = πr : πr : πr (since, h = r) = : : 43. (b) We can choose two men out of 9 in 9 C ways. Since, no husband and wife are two play in the same game. Two women out of the remaining 7 can be chosen in 7 C ways. Thus, the number of ways of arranging the game is 9 7 C C = (e) C 4 5 Given, BC = 5 and AB = 7 So, AC = 5 7 = 4 Now, ( 4 x) + ( 7 + x) = 5 5x = 0 x = (b) The total number of valid votes = 800 = = 6150 The number of valid votes the other person got = 6150 = = (d) If the distance of 40 m be covered by car in t s. Speed of the car = 40 m/s t Distance of km i.e., 000 m 000 Covered by car will be = t = 50 t s 40 and speed of Milind = 15 m/s t Distance coverd by Milind in 50t s. 15 = 50t = 750 m t 47. (a) Ratio of the numbers of cows grazed in 1 month by A, B, C and D = 4 15 : 1 : 6 18 : 5 16 = 60 : 4 : 108 : 80 = 15 : 6 : 7 : 0 Share of C of rent 7 = = ` A C 48. (a) 49. (e) 50. (a) 51. (d) 5. (b) 53. (c) Total expenditure of Mangesh s monthly income = = = ` 78 Annual income of Mangesh 7 (4 x) 5 A (7+ x) B B = = = = ` (e) Sum of the next set of five consecutive odd numbers = (b) Actual average marks = = = = (c) CI = R P + 1 = = = n = = ( ) = ` (c) Suppose the number is 10x + y. (When number at unit place is y and at tens place is x.) ( 10x + y) ( 10y + x) = 9 x y = 1...(i) x + y = 15...(ii) On solving Eqs. (i) and (ii), we get x = 8; y = 7 Required number = = (e) There are 5 letters in the word TRUST and T comes two times. Required permutation 5! 5 4 3! = = = 60!! 59. (a) Suppose the age of Shirish = 5x yr Age of Kunder = 6x yr 5x After 8 yr, = 6x x + 56 = 40x x 40x = x = 8 x = 4 Required difference = 6x 5x = = 4 0 = 4 yr 60. (a) For course D Number of girls = 30% of = = 40 Number of students 1 = 35 = 40 Number of boys = = 180 Required ratio = 180 : 40 = 3 : 4 54

27 61. (c) Number of boys in course E = 1% of 14% of 800 = = 3 F = 13% of 14% of 800 = = 44 A = 0% of 30% of 800 = = 0 D = 35% of 30% of 800 = = 180 C = 5% of % of 800 = = 44 Obviously, pair C and F is our answer. 6. (a) Four course E, Number of girls = 14% of 800 = 11 Number of boys = 3 80 Required percentage = = 50% (d) From I, 16a = 1 a = ± 1 4 From II, 3b + 7b + = 0 3b + 6b + b + = 0 3b ( b + ) + 1( b + ) = 0 ( 3b + 1) ( b + ) = 0 b = or 1 3 a > b 64. (e) From I, a + 5a + 6 = 0 a + a + 3a + 6 = 0 a ( a + ) ( a + 3) = 0 ( a + ) ( a + 3) = 0 a =, 3 From II, b + 7b + 1 = 0 b + 4b + 3b + 1 = 0 b ( b + 4) + 3 ( b + 4) = 0 ( b + 3) ( b + 4) = 0 b = 3, 4 a b 65. (c) From I, a + a + 1 = 0 ( a + 1) = 0 a + 1= 0 a = 1 From II, b = ± 4 b = ± Relation cannot be established between a and b. 66. (e) Statement K = N D > W Conclusions I. D < K (False) II. W N (False) III. W > K (False) Hence, none is true. 67. (e) Statement H = M T > D Conclusions I. D < M (False) II. T H (True) III. D < H (False) Hence, only II is true. 68. (d) Statement F T > E < R Conclusions 55 I. R > T (False) II. R T III. F < E Hence, none is true. 69. (a) Statement M < R> T J Conclusions (False) (False) I. J > R (False) II. M < T III. M < J Hence, none is true. 70. (d) Statement J M < B = K Conclusions (False) (False) I. J > B (False) II. J > K III. K > M Hence, only III is true. (False) (True) Solutions (Q.Nos ) According to the given information Friend Colour Company A Pink Quark B Red Trump and Gates C Green Pentasoft D Yellow Raymond s E Purple Udupi F Blue Sunment 71. (a) 7. (b) 73. (d) 74. (b) 75. (a) 76. (b) Given code is A B C D E F G H I J K L M N O P Q R S T U V W X Y Z So, F A Z E D = = (e) As fan is related to heat similarly, food is related to hunger. 78. (d) T > R S > V > Q > R So, T or S types fastest. 79. (c) According to the statements, M N P Husband Sister So, M is the son-in-law of Q. 80. (b) According to the question, D Sister Son Brother Clearly, A s father is the son of D s sister, hence father of A is nephew of D. 81. (a) According to question, P R P is the mother of R. R Q R is the brother of Q. Q Daughter A Father Q T Q is the father of T. So, P is the grandmother of T. 8. (e) P Q P is the mother of Q. Q + R Q is the daughter of R. R T R is the father of T. So, Q is the sister of T but T may be brother or sister of Q. 83. (d) From answer option (d), P T P is the father of T. T Q T is the brother of Q. Q + R Q is the daughter of R. 84. (e) Conclusions I. II. III. IV. Hence, Either I or III and IV follow. 85. (e) Conclusions I. II. III. IV. Hence, only IV follows. 86. (e) P Grandmother P Mother P T Husband Cup Bottle Handle Chair Bird Horse Tiger Mother Conclusions I. II. III. IV. Hence, Either I or III and II,IV follow. T Mother Sister Father Uncle Father Father Son Q R Q Brother Daughter R T R Q Daughter Brother Jug Plate Table Pot Lion Mat Monkey Buse

28 87. (d) Stick Lamp Dress Shirt Flower Conclusions I. II. III. Hence, only III follows. 88. (c) Bench IV. Wall Jungle Road House Conclusions I. II. III. Hence, III and IV follow. IV. Solutions (Q.Nos ) Eight peoples sitting arrangements are as follows A B C D N W E F E H G S 89. (b) 90. (c) H sits exactly between G and E and C faces H. 91. (d) 9. (d) 93. (a) Except E all others sits extreme end of the line. 94. (d) Except FK@, all other groups follow same nature in the given arrangements. 95. (b) According to the question, in the given arrangements δ symbol is the twelfth to the right of the sixth from the left end. 96. (b) According to the question, in the given arrangements only one number is immediately preceded by a consonant and immediately followed by a symbol. 97. (a) After dropped all the symbols the given arrangements order is R 3 A M D 1 B U J F I K E W P 4 8 V Q 9 6 Y 5 So, K letter is thirteenth from the left end. Solutions (Q.Nos. 98-) Five friends scored marks are as follows P > Q > R > S > T 98. (c) 99. (b) T scored least marks or no one scored less than T.. (e) Given, P s marks = 87 Q s possible marks = 87 1= 86 S s marks = 86 3 = 63 R scored marks between 63 and 86. or R scored marks either 64 or 78, it mean R possible scored marks =78 56

29 Directions (Q.Nos. 1-5) Each of these questions of questions is based on a set of conditions. For each question, select the best answer choice given. Jones is very fussy in watering her flower-pots. She waters pots A, B, C, D, E, F, G, H, I and J on everyday of the week. In going from one pot to another, she strictly adheres to the following rules. The first two pots to be watered everyday must be selected from C, D, E and F. H can t be watered before D and J can t be watered after I. G can be watered only after B. F must be watered before C. 1. If D is the fourth pot to be watered on a day, which of the following pots can t be fifth on that day? a. C b. F c. E d. H e. J. Which of the following is a possible arrangement for the watering of the first five pots? a. E, H, F, D, C b. F, C, H, B, D c. C, D, E, B, H d. C, J, E, D, A e. D, F, B, C, A 3. If D is to be watered immediately after J, then which of the following must be true? a. F is the first pot to be watered b. Of the first two pots to be watered, one is F c. H is the sixth pot to be watered d. H is either the sixth or seventh pot to be watered e. B is the fourth pot to be watered MOCK PAPER ONLINE EXAM SEPTEMBER 9 to 4, 017 IBPS CRP VII RRBs OFFICE ASSISTANT Pre. (Phase I) Online Exam 017 General Instructions This crack set consists of 80 questions in two parts. All questions are compulsory. Answer the questions quickly and as carefully as you can. Some questions may be difficult and others easy. Do not spend too much time on any question. Time 60 Min. Max. Marks 80 Part Subject Number of Questions I Reasoning Ability 40 II Quantitative Aptitude 40 Part I Reasoning Ability 4. If the given conditions are reversed, that is first becomes last, before becomes after and so on, which of the following is a possible arrangement for watering the last four pots? a. G, D, B, H b. H, F, C, E c. F, B, C, E d. C, B, E, F e. E, F, H, G 5. If D is the fourth pot to be watered and J the fifth, then which of the following can be the third pot to be watered? a. A b. F c. H d. G e. I Directions (Q.Nos. 6-10) In the following questions the $, *, ** and # are used with the following meaning. A $ B means A is greater than B. B means A is greater than or equal to B. A * B means A is equal to B. A ** B means A is smaller than B. A # B means A is either smaller than or equal to B. Now, in each of the following questions assuming the given statements to be true, find which of the two conclusions I and II given below them is/are definitely true? Give answer a. if only conclusion I is true b. if only conclusion II is true c. if either conclusion I or II is true d. if neither conclusion I nor II is true e. if both conclusions I and II are true 67 1

30 6. Statements Q, M # N, N ** Q Conclusions I. P $ M II. N # P 7. Statements D ** X, Y, D $ F Conclusions I. Y II. Y # D 8. Statements M ** P, S $ T, T Conclusions I. S * M II. T ** P 9. Statements U * V, Z $ W, U ** W Conclusions I. W $ V II. U ** Z 10. Statements G $ H, J # K, H * K Conclusions I. H $ J II. J * H Directions (Q.Nos ) In each questions given below are given two statements followed by three conclusions I, II and III. You have to take the given statements to be true even if they seem to be at variance with commonly known facts. Read all the conclusions and then decide which of the given conclusions logically follows from the given statements disregarding commonly known facts? 11. Statements All bulbs are tables. Some bulbs are pot. Conclusions I. All pots are tables. II. No pot is table. III. At least some pots are table. a. Only I follows b. Only II follows c. Only III follows d. I and II follow e. None of these 1. Statements All rats are bells. Some bell are cars. Conclusions I. All bells are rats. II. Some cars are neither bells nor rat. III. No car is rat. a. Only I follows b. Only II follows c. Only III follows d. II and III follow e. None follows 13. Statements All roads are trees. No tree is soap. Conclusions I. No soap is road. II. Al teast some trees are road. III. No road is soap. a. Only I follows b. Only II follows c. Only III follows d. None follows e. All follow 14. Statements Some hotels are bricks. All bananas are bricks. Conclusions I. At least some bananas are hotels. II. Some bricks are definitely not hotels. III. No banana is hotel. a. I and II follow b. II and III follow c. Only I follows d. Either I or III follows e. All follow 15. Statements Some books are lamp. Some lamps are rod. Conclusions I. Some books are definitely not rod. II. No rod is either book or lamp. III. All rods are lamps. a. Either I or II follows b. I and III follow c. II and III follow d. None follows e. All follow Directions (Q.Nos. 16-0) Study the following information carefully and answer the questions given below. 68 P, Q, R, S, T, V and J are sitting around a circle facing the centre. S is not an immediate neighbour of V. S is second to the right of T, who is second to the right of Q. R is third to the right of J and second to the left of P. 16. Who is on the immediate right of Q? a. S b. R c. V d. Data inadequate e. None of these 17. What is J s position with respect to P? a. Third to the right b. Second to the left c. Second to the right d. Data inadequate e. None of these 18. How many of them are there between Q and S counting from Q clockwise? a. Two b. Three c. Four d. (b) or (c) e. None of these 19. Who among the following is sitting between V and R? a. Q b. J c. T d. S e. None of these 0. What is T s position with respect to V? a. Third to the left b. Fourth to the left c. Third to the right d. Fourth to the right e. (b) and (d) Directions (Q.Nos. 1-3) Following questions are based on the information given below. P Q means P is mother of Q. P Q means P is sister of Q. P + Q means P is brother of Q. P Q means P is father of Q. 1. Which of the following means K is son of R? a. R K b. R K c. K + T R d. R J K + M e. None of these. Which of the following means M is paternal uncle of T? a. M + J T b. M + J T c. M J T d. M + J + T e. None of these 3. Which of the following means D is cousin of W? a. D M + W b. D + M W c. D T + W d. D T N W e. None of these Directions (Q.Nos. 4-7) In each questions below is given a group of letters followed by four combinations of digits/symbols numbered (a), (b), (c) and (d). You have to find out which of the combinations correctly represents the group of letters based on the coding system and mark the number of that combination as your answer. If none of the combinations correctly represents the group of letters, mark (e). i.e., None of these as your answer. Conditions Letters Digits/Symbol Code A 4 G 9 R # S % D 3 N E 5 V 1 U β X 7 P 6 (i) If the first letter is a consonant and the last letter is a vowel, then no code may be given to the last letter. (ii) If both the first and last letter are vowels, then both are to be coded as $. (iii) If the first letter is a vowel and the last letter is a consonant, then the codes are to be interchanged.

31 4. DESGRT a. 35%9# b. d. e. None of these 5. NERSPU a. c. 5#%6 d. 5#%6 e. None of these 6. XNTPGA a. b. c. d. e. None of these 7. ESVNTU a. $ b. c. d. $%1 5 e. None of these Directions (Q.Nos. 8-30) Study the following five numbers and answer the questions given below What will be last digit of the third number from top when they are arranged in descending order after reversing the position of the digits within each number? a. 7 b. 3 c. 5 d. e. None of these 9. What will be the middle digit of the second lowest number after the position of only the first and the second digits within each number are interchanged? a. 5 b. c. 7 d. 3 e. None of these 30. What will be the first digit of the second highest number after the position of only the second and the third digits within each number are interchanged? a. 7 b. c. 8 d. 9 e. None of these 31. Two ladies and two men are playing cards and are seated at North, East, South and West of a table. No lady is facing East. Persons sitting opposite each other are not of the same gender. One man is facing South. Which directions are the ladies facing? a. South and East b. North and East c. North and West d. East and West e. Data inadequate 3. Standing on a platform, Amit told Sunita that Aligarh was more than 10 km but less than 15 km from there. Sunita knew that it was more than 1, but less than 14 km from there. If both of them were correct, which of the following could be the distance of Aligarh from the platform? a. 11 km b. 1 km c. 13 km d. 14 km e. None of these Directions (Q. Nos ) Study the given information carefully and answer the given questions. An arrangement machine, when given an input line of words, rearranges them following a particular rule in each step. The following is the illustration of the input and the steps of arrangement. Input the lose a supply right will money Step I will as the lose supply right money Step II will the as lose supply right money Step III will the supply as lose right money Step IV will the supply right as lose money Step V will the supply right money as lose Step VI will the supply right money lose as Study the logic followed and answer the questions that follows. 33. Input with his government facing a crisis What will be the 3rd step for this input? a. a crisis facing with his government b. a his with facing government crisis c. with his government facing a crisis d. a his with crisis government facing e. None of the above 34. In how many steps can the following input be arranged? Input on coming to power early last year a. 1 b. c. 3 d. 4 e What will be the IInd step of the following input? Input bankers expectations were running high today a. bankers expectations high were running today b. high were bankers expectations running today c. high bankers expectations were running today d. bankers expectations high running were today e. None of the above 36. Which of the following inputs will take the maximum number of steps for rearranging? a. key policy statements next week will contain b. measures to speed the flow of credit c. bottlenecks caused by power shortages transport d. one of the main reasons for growth e. (a) and (b) 37. How many such pairs of letters are there in the word NEUTRAL, each of which has as many letters between them in the word (in both forward and backward directions) as they have between them in the English alphabetical series? a. Two b. Three c. None d. One e. More than three 38. Anu and Vinay are ranked seventh and eleventh respectively, from the top in a class of 31 students. What will be their respective ranks from the bottom in the class? a. 0th and 4th b. 4th and 0th c. 5th and 1th d. 5th and 6th e. None of these 39. Consider five people A, B, C, D and E, each having different age. A is younger than only B. C is older than D. D is not the youngest. Who amongst the following are older than C? a. A and B b. E, B and A c. A and E d. E and B e. None of these 40. If it is possible to make any one meaningful word with the first, the second, the fourth and the fifth letters of the word VIOLENCE, using each letter only once, which of the following will be the first letter of that word? If only two such words can be formed, give P as the answer. If only three such words can be formed, give Z as the answer. If only four such words can be formed, give Y as the answer. And if no such word can be formed, give X as the answer. a. P b. Y c. Z d. X e. V 69 3

32 41. Seema, Meena and Reena start jogging around a circular stadium and complete one round in 54, 4 and 63, respectively. Approximately, after how many minutes they will meet again at the starting point? a. 8 b. 10 c. 3 d. 6 e Deepa drives a bike at an average speed of 30 km/h and reach her destination in 6 hours. Hema covers that distance in 4 hours. If Deepa increase her average speed by 10 km/h and Hema increase her speed by 5 km/h, then what will be the difference in time taken by them to reach their destination? a. 54 min b. 1 h c. 40 min d. 45 min e. None of these 43. In how many different ways can the letters of the word ARMOUR be arranged? a. 70 b. 300 c. 640 d. 350 e. None of these 44. The sum of twice of a number and thrice of 4 is 38. What will be the sum of thrice of that number and twice of 4? a. 45 b. 50 c. 64 d. 5 e. None of these 45. In a college 1% of total students are interested in sports. 3 th of total students are interested in dance. 4 10% of total students are interested in singing and remaining 15 students are not interested in any activity. How many students are there in the college? a. 450 b. 500 c. 600 d. Can t be determined e. None of these 46. The respective ratio of the ages of Anubha and her mother is 1 :. After 6 years, the ratio of their ages will be 11 : 0. 9 years before, what was the respective ratio of their ages? a. 3 : 5 b. : 7 c. 1 : 4 d. : 5 e. None of these 47. Rohit invested some amount at the rate of 6% per annum and at the end of 3 years he got ` 8730 simple interest. How much compound interest he will get on same amount and same rate of interest after years? a. ` 580 b. ` c. ` 5900 d. ` e. None of these 48. Car A runs at the speed of 65 km/h and reaches its destination in 8 hours. Car B runs at the speed of 70 km/h and reaches its destination in 4 hours. What is the respective ratio of distances covered by Car A and B? a. 11 : 7 b. 7 : 13 c. 13 : 7 d. 7 : 11 e. None of these 49. The ratio of students in School A, B and C is 5 : 4 : 7, respectively. If number of students in schools are increased by 0%, 5% and 0% respectively, then what will be the ratio of students in School A, B and C, respectively? a. 5 : 5 : 7 b. 30 : 5 : 4 c. 30 : 0 : 49 d. Can t be determined e. None of these 70 Part II Quantitative Aptitude 50. In a class, the average height of 35 girls was measured 160 cm. Later on, it was discovered that the height of one of the girl was misread as 144 cm, while her actual height was 104 cm. What was the actual average height of girls in the class? (Rounded off to two digits after decimal.) a cm b cm c cm d cm e. None of these Directions (Q.Nos ) In each of the following questions, what should come in the place of question mark? 51.? 19 = 4750 a. 75 b. 300 c. 70 d. 50 e. None of these =? 5 3 a b c. 5 d e. None of these =? 8. 5 a b c d e. None of these =? a b c d e. None of these =? a. 8 b. 3 c. 7 d. 31 e. None of these = ? a. 9.0 b c d e. None of these =? a b c d e. None of these 58. 5? = 3. 5 a. 4.8 b. 4.7 c. 4. d. 4.3 e. None of these =? a b c d e. None of these =? a. 9 b. 8 c. 7 d. 6 e. None of these 61. On the Independence Day, sweets were to be equally distributed amongst 350 children. But on that particular day, 5 children were absent. Thus, each child got 5 extra sweets. How many sweets did each child get? a. 55 b. 70 c. 50 d. 65 e. None of these 4

33 6. 4 men can complete a piece of work in 16 days. The same work can be completed by 8 women in 7 days, whereas 4 children take 3 days to complete it. If 10 men, 15 women and 4 children work together, in how many days can the work be completed? a. 18 b. 8 c. d. 1 e. None of these 63. How many seven digit numbers can be made from the number , using each digit only once? a. 49 b. 180 c d. 50 e. None of these 64. If the difference between the simple interest and compound interest earned on an amount at the rate of 15% per annum at the end of 3 years is ` , what is the amount? a. ` 8400 b. ` 900 c. ` 6800 d. Can t be determined e. None of these 65. The number obtained by interchanging the digits of a two digit number is greater than the original number by 9. If the sum of the two digits of the number is 13, what is the original number? a. 58 b. 76 c. 78 d. Can t be determined e. None of these Directions (Q.Nos ) Study the following graph carefully to answer the questions that follow. Percentage of Profit Earned by the Company Over the years Income Expenditure Percentage of profit = Expenditure Percentage of Profit Years 66. What is the average percentage profit earned by the company over the years? a. 55% b. 51% c. 6% d. 59% e. None of these 67. If expenditure of the company in year 006 was ` then what was the respective ratio of income to expenditure of the company in that year? a. 3 : b. 5 : 4 c. 4 : 3 d. Can t be determined e. None of these 68. Percentage of profit earned by the company in the year 009 was what percent of the percentage of profit earned by the company in the year 005? a. 00% b. 40% c. 60% d. 55% e. None of these 69. If the income of company in years 005 and 007 was ` each, then what was the difference between the expenditures of company in years 005 and 007? a. ` b. ` c. ` d. Can t be determined e. None of these 70. If the profit earned by the company was ` in year 008, then what was the income of company in that year? a. ` b. ` c. ` d. Can t be determined e. None of these 71. Ram mixes 15 kg of sugar purchased at the rate of ` 8.00 per kg, with 5 kg of sugar purchased at the rate of ` per kg. At what rate per kilogram should Ram sell the mixture to get a profit of ` 3 per kg? a. ` b. ` 11.5 c. ` 1.5 d. ` 1.50 e. None of these 7. When the present age of mother is added to the present age of the daughter, the total is 40 years. What will be their total age after 5 years? a. 45 b. 50 c. 46 d. 48 e. None of these 73. In a library 30% books are in English, 50% books are in Hindi and the remaining 500 are in other languages. What is the total number of books in the library? a. 700 b. 600 c. 800 d. 500 e. None of these 74. The sum of three consecutive integers is 30. Which of the following is the largest among the three? a. 1 b. 13 c. 14 d. 11 e. None of these 75. Which is the largest of the following fractions? a. 3 b. 7 9 c. 5 8 d. 3 5 e. 7 Directions (Q.Nos ) What should come in the place of question mark (?) in each of the following number series? 76. 1,, 10, 37, 101,? a. 6 b. 148 c. 195 d. 58 e. None of these 77. 5, 69, 150, 50,? a. 95 b. 346 c. 351 d. 371 e. None of these 78., 3, 8, 7, 11,? a. 4 b. 565 c. 484 d. 395 e. None of these 79.?, 6, 13, 40, 161, 806 a. 3 b. 4 c. 5 d. 1 e. None of these 80. 3, 4.5, 9,.5, 67.5,? a b. 85 c d. 90 e. None of these 71 5

34 Hints & Solutions 1. (b) If D is the fourth pot and F the fifth, then C and E must be among the first two pots to be watered, which means C will be watered before F. But this violates the last condition.. (e) (a) and (d) are ruled out because the first two pots must include two of the following C, D, E and F. (b) is ruled out because H can t be watered before D. (c) is ruled out because F must be watered before C. 3. (b) If D is to be watered immediately after J, it can t be included among the first two pots. So, we are left with C, E and F to select as the first two pots. Now, since F must be watered before C, it must be among the first two pots. 4. (d) The new conditions will read as follows (i) Two of the pots C, D, E and F must be among the last two. (ii) H can t be watered after D. (iii) J can t be watered before I. (iv) G can be watered only before B. (v) F must be watered after C. Now, (a) and (e) are ruled out by (i). (b) is ruled out by (v). (c) is ruled out by (v). 5. (a) Since, D is the fourth pot, F must be among the first two. So, F is ruled out for the third place. H and I are ruled out because H can t be watered before D and J after I. G is ruled out because it can be watered only after B and B, as we know, can t be among the first two. Solution. (Q.Nos. 6-10) According to given information $ * = ** < # 6. (a) Statements Q P Q M # N M N N ** Q N < Q We have, P Q > N M Conclusions I. P $ M P > M (True) II. N # P N P (False) Only conclusion I is true. 7. (d) Statements D ** X D < X Y F Y D $ F D > F We have, Y F < D < X Conclusions I. Y X Y (False) II. Y # D Y D (False) Neither conclusion I nor II is true. 8. (b) Statements M ** P M < P S $ T S > T T M T We have, S > T M < P Conclusions I. S * M S = M (False) II. T ** P T < P (True) Only conclusion II is true. 9. (e) Statements U * V U = V Z $ W Z > W U ** W U < W We have, Z > W > U = V 7 Conclusions I. W $ V W > V (True) II. U ** Z U < Z (True) Both conclusions I and II are true. 10. (c) Statements G $ H G > H We have, J # K J K H * K H = K G > H = K J Conclusions I. H $ J H > J II. J * H J = H Either conclusion I or II is true. 11. (e) According to the statements, venn diagram is as follow Conclusions I. II. May be true III. May be true Hence, either II or III follows. 1. (e) According to the statements, venn diagram is as follow Conclusions I. II. III. None follows. 13. (e) According to the statements, venn diagram is as follow Conclusions I. II. III. All follow. 14. (d) According to the statements, venn diagram is as follow Conclusions I. May be true II. III. May be true Hence, either I or III follows. 15. (d) According to the statements, venn diagram is as follow Conclusions I. II. III. None follows. Pot Rat Bell Road Tree Hotel Bulb Table Car Soap Banana Brick Solution. (Q.Nos. 16-0) According to the given information, possible sitting arrangement are as follow or or Book Lamp Rod 16. (b) 17. (c) 18. (a) 19. (a) 0. (e) 1. (d) From option (d), R J K + M (+)R Father Sister J K Brother M ( ) (+) Clearly, K is brother of R s daughter J. Hence, K is son of R.. (a) From option (a), M + J T Brother M J (+) Clearly, M is brother of T s father J. Hence, M is paternal uncle of T. 3. (e) In option (a), D is sister of W. In option (b), D is brother of W. In option (c), D is mother of W. In option (d), D is maternal grandfather of W. Hence, none of given means D is cousin of W. 4. (b) D E S G R T 5. (c) (+) Q So, condition (i) follows. 6. (d) X N T P G A So, condition (i) follows. 7. (a) E S V N T U So, condition (ii) follows. V J 8. (b) Here, the given numbers are After reversing, the numbers become as follow When arranged in descending order the numbers become as follow Now, the third number from top is 53. Hence, the last digit of 53 is (d) After interchanging the first and the second digits, numbers become as follow When arranged in descending order the numbers become as follow Here, the second lowest number is 35. Hence, middle digit of 35 is 3. S R T P T Father 3 5 % 9 N E R S P U 5 # % $ % $ 6

35 30. (a) If the positions of only the second and the third digits within each number are interchanged, the numbers become as follow Now, when the numbers are arranged in descending order, we get Here, 79 is the second highest number. Hence, the first digit of 79 is (c) (Male) (Male) (Female) (Female) 3. (c) Clearly, according to Sunita, the distance was more than 1 km but less then 14 km, which is 13 km. Solution. (Q.Nos ) Words have been arranged in opposite alphabetical order in each step. 33. (e) Because the given input is arranged only in one step. Hence, none of the options follows. 34. (e) Input on coming to power early last year Step I year on coming to power early last Step II year to on coming power early last Step III year to power on coming early last Step IV year to power on last coming early Step V year to power on last early coming 35. (e) Input bankers expectations were running high today Step I were bankers expectations running high today Step II were today bankers expectations running high 36. (c) Option (c) takes five steps for arranging the given input, whereas options (a) and (b) take four steps each and option (d) takes three steps. 37. (b) N E U T R A L Hence, number of such pairs are NR, AE, TU. 38. (c) Number of students after Anu in the class = ( 31 7) = 4 Now, Anu s rank from bottom = = 5 So, Anu is 5th from the bottom. Number of students after Vinay in the class = ( 31 11) = 0 Now, Vinay s rank from bottom = = 1 So, Vinay is 1st from the bottom. Note 1 will be added, if question is ask about another side and one side is already given. This question can be solved by formula also. Rank of a person from lower or right end = (Total number of persons in row) (Rank of that person from upper of left end) (a) Arrangement of people according to their age, B > A > C > D > E (i) From Eqs (i), we can say that A and B are older than C. W N S E 40. (b) Specified letters are V, I, L and E. Words formed with these letters are as follow 1. EVIL. LIVE 3. VEIL 4. VILE 41. (d) LCM of 54, 4, 63 = 378 sec 378 = 6. 3 min 6 min (a) Distance = 30 6 = 180 km 180 Speed of Hema = = 4 45 km/h Speed of Deepa after increasing average speed 180 = = 4 1 h = 4 h 30 min Speed of Hema after increasing average speed 180 = = 3 3 h = 3 h 36 min Difference = 4 h 30 min 3 h 36 min = 54 min 43. (e) ARMOUR = 6 letters, whereas R repeated twice 6! ! = = (d) According to the question, Number = x x = 38 x = 11 x = 56 Again, = = (b) Suppose total student = Interested in playing = 1% = 1 students Interested in dancing = Interested in singing 3 = 75 students 4 = 10% = 10 students Remaining = ( ) = 3 students Whereas remaining = 15 students Total students = 15 = (d) Ratio of present age of Anubha and her mother = 1: According to the question, x = x x + 10 = x + 66 x = 54 x = 7 Before 9 years, ratio of ages of Anubha and 7 9 her mother = 7 9 = = : (d) Principle = = ` Compound interest = = = ` (c) Distance travelled by Car A = 65 8 = 50 km Distance travelled by Car B = 70 4 = 80 km 50 Required ratio = = (b) A : B : C = 5 : 4 : 7 13 : 7 After increasing ratio 10 = : : = 600 : 500 : 840 = 30 : 5 : (e) Average height of girls ( ) = = = = cm (d)? 19 = ? = = (d)? = 5 3 = = (a)? = 8. 5 = = (c)? = = (e)? = = = = (b) ? = ? = ? = = (b)? = = (b) 5? = ? = = (a)? = = (a)? = = (b) Let the pieces of sweets to be distributed among children on the occassion of Independence Day be x, then according to the question x x = x 13x = x = x = 750 So, the each children get = 750 = 70 piece (d) 4 men 16 days = 8 women 7 days = 4 children 3 days M = 3W = 4B Hence, according to the question, 73 7

36 4 children 3 days = (10 men + 15 women + 4 child) x days 10 men = 0 boys 4 15 women = 15 = 0 boys 3 4 children 3 days = ( ) children x days 4 3 = = 1 days (c) Total number of digits of number = 7 Hence, total number of seven digits 7 number = P 7 = 7! = = (a) We know that, difference of CI and SI of 3 years + = D = Pr ( 300 r ) 3 P ( 315) = P = = ` (e) Let two digit number be 10x + y. According to the question, 10y + x ( 10x + y) = 9 9y 9x = 9 y x = 1 (i) Again, x + y = 13 (ii) From Eqs. (i) and (ii), y = 14 y = 7 and x = 6 Hence, number is (b) Required percentage = = 51% 5 x (a) 50 = x = Ratio = = (Suppose x = income) 3 : 68. (c) Required percentage 65 = = 60% (e) In year 005, E 5 = E 5E = E 15E = E = ` In year 007, E 70 = E E = Difference = = ` = ` (a) E = = ` I = = ` (c) Total weight of the mixture = = 40 kg Total cost price of the mixture = ` ( ) = ` ( ) = ` 370 Cost price of mixture/kg = ` = ` 9.5 Hence, to gain ` 3 per kg SP = ` ( ) = ` 1.5/kg 7. (b) After 5 years, age of each person will increase by 5 years. Required age = = 50 yr 73. (d) Remaining percentage of books = = 0 According to the question, 0% of total books = Total books = = (d) Let the three consecutive integers be x, x + 1and x + respectively. x + x x + = 30 3x + 3 = 30 3x = 30 3 = 7 7 x = = 9 3 Largest integer = x + = 9 + = (b) Decimal equivalent of each fraction = 0. 86; 3 = 0. 6; = 0. 65; 7 = ; = Clearly, 7 is the largest (a) 1 = 1 = = 8 = = 7 = = 64 = = 15 = (d) 69 5 = 64 = = 81 = = = = 11 = (b) 1+ 1 = = = = = (c) = = = = = (e) = = = = =

37 MOCK PAPER ONLINE EXAM SEPTEMBER, 017 United India Insurance Company Limited ASSISTANT Pre. (Tier I) Online Exam 017 General Instructions This crack set consists of questions in three parts. All questions are compulsory. Answer the questions quickly and as carefully as you can. Some questions may be difficult and others easy. Do not spend too much time on any question. Time 60 Min. Max. Marks Part Subject Number of Questions I English Language 30 II Reasoning Ability 35 III Quantitative Aptitude 35 Part I English Language Directions (Q. Nos. 1-10) Read the following passage carefully and answer the questions given below it. Certain words have been printed in bold to help you to locate them while answering some of the questions. In a great palace by the sea, there once dwelt a very rich old lord, who had only one little grand-daughter, whose face he had never seen in all her life. He hated her bitterly, because at her birth his daughter died and when the old nurse brought him the baby, he swore that the would never look on her face as long as she lived. So, he turned his back and sat by his window looking out over the sea, shedding tears for his lost daughter. Meanwhile, his grand-daughter grew up with no one to care for her or clothe her. An old nurse would sometimes give her a dish of scraps from the kitchen or a torn dress from the rag-bag. Soon she became known as Tattercoats, amongst all as she always wore torn out dresses. And so she grew up, with little to eat or wear ending days in the fields and lanes, with only a herd of parrots for a companion. One day, people told each other that the King was travelling to their town and was to give a great party to all the lords and ladies of the country, where the Prince, his only son, was to choose a wife. Tattercoats had heard of the event in the town. She was excited as she had never been to a party. However, she was heartbroken when she soon realised that her grandfather would never take her to the party. The parrots listened to her story and proposed that they should go together into the town but she looked sorrowfully down at her rags and bare feet. She said that in such attire, the King s men would never let her enter the town. She sat under a tree crying and sobbing. Just then a handsome young man, splendidly dressed, rode up and stopped to ask the way to the town as he had lost it and had been wandering in the area for a long time without a clue about the directions. Tattercoats explained the way to the town to him. The young man was charmed by her beauty and simplicity but soon realised that she was upset. On asking the reason the parrots told him the whole story. The young man felt sad for Tattercoats. He returned the next day with a beautiful gown and jewels and gave her so that she could wear these to the King s party. Tattercoats looked astonished and refused to accept the expensive gifts. The young man however insisted that she must accept these as a token of thanks for helping him finding the way to the town when he was lost. Finally when night came, the hall in the castle was full of light and music and the lords and ladies were dancing before the King. Soon Tattercoats entered, followed by the flock of chirpy parrots. She walked straight up the party hall while the ladies whispered, the lords laughed and the King seated at the far end stared in amazement. But as they came in front of the throne, a young man rose from beside the King and came to greet her. Much to Tattercoat s surprise he was the same young man whom she had told the way to the town. Taking her by the hand he turned to the King. 89 1

38 Father! he said for he was the Prince himself, I have made my choice and here is my bride, the loveliest girl in all the land and the sweetest as well! The King was proud of his son s decision and as he rose to greet his daughter-in-law, the trumpets sounded loudly in honour of the new Princess. The couple lived happily ever after. The parrot herd continued to be the best companion of the princess. Her grandfather, however, bound by his vow could never se e his grand-daughter Tattercoats the princess in his entire life. 1. What did the handsome young man ask Tattercoats on his way to the town? a. He asked her to accompany him to the town. b. He asked her to accept the gifts he had brought for her. c. He promised her that prince would choose her as his wife during the party. d. He asked for the directions to the town as he had lost his way. e. None of the above. What was the King s intention in throwing a party in the town? a. To please the rich landlords and ladies of the town. b. So that his only son could select a wife for himself. c. He was happy that his son had chosen Tattercoats as his wife. d. He wanted to visit the town as he had never visited it before. e. None of the above 3. Why did Tattercoats cry even when the parrots offered to accompany her to the King s party? a. She did not have good clothes and shoes to wear for the occasion. b. She feared that her grandfather would punish her for attending the party. c. She had lost her way to the town on her way to the town. d. The lords and the ladies at the party had made fun of her appearance. e. None of the above 4. Which of the following is true in context of the passage? a. The rich landlord finally forgave her grand-daughter. b. Tattercoats always had a comfortable childhood since her grandfather was a wealthy landlord. c. A prince had asked Tattercoats for the way to the town. d. Tattercoats was never able to attend the party held by the King. e. All are true. 5. What did the young man do when Tattercoats refused to accept the gifts? a. He had to take the gifts back. b. He insisted to accept them and was impressed by her self respect and decided to marry her. c. He said that unless she accepts the gifts she would not be able to attend the party. d. He promised to buy more expensive gifts for her. e. None of the above 6. Why did the rich landlord swear never to see his granddaughter s face? a. He was upset that she had married the prince against his wish. b. He always wanted a grandson and not a grand-daughter. c. He held her responsible for the death of his daughter. d. He was upset with her since she did not take good care of him. e. None of the above Directions (Q. Nos. 7-8) Choose the word which is most similar in meaning to the word printed in bold as used in the passage. 7. Bitterly a. Tastelessly b. Intensely c. Rudely d. Eagerly e. Purposefully Astonished a. Happy b. Shocked c. Embarrassed d. Surprised e. Frightened Directions (Q. Nos. 9-10) Choose the word which is most opposite in meaning to the word printed in bold as used in the passage. 9. Splendidly a. Wisely b. Unfairly c. Rudely d. Reluctantly e. Unimpressively 10. Charmed a. Offended b. Stunned c. Repulsed d. Jealous e. Outraged Directions (Q.Nos ) Rearrange the following six sentences A, B, C, D, E and F in the proper sequence to form a meaningful paragraph, then answer the questions given below them. A. It can be done in many simple ways such as turning off the taps, fixing leaks on time and reusing used water etc. B. Only 1% of all the water on the Earth is usable. C. With such growth rate it is important that we conserve water, use it wisely and not waste it D. The rest is either salt water or permanently frozen. E. If everyone makes efforts to follow these simple ways, the water crisis would be solved to a great extent. F. As population grows, more and more people are using this limited resource. 11. Which of the following should be the FIRST sentence after rearrangement? a. B b. C c. D d. E e. F 1. Which of the following should be the SECOND sentence after rearrangement? a. B b. C c. D d. E e. F 13. Which of the following should be the THIRD sentence after rearrangement? a. A b. B c. D d. E e. F 14. Which of the following should be the FOURTH sentence after rearrangement? a. B b. C c. E d. D e. F 15. Which of the following should be the SIXTH (LAST) sentence after rearrangement? a. A b. B c. C d. E e. F Directions (Q. Nos. 16-0) Read each sentence to find out whether there is any grammatical error or idiomatic error in it. The error, if any, will be in one part of the sentence. The letter of that part is the answer. If there is No error, the answer is (e). (Ignore errors of punctuation, if any.) 16. They asked him (a)/ how did he received (b)/ the wound but he (c)/ refused to answer. (d) No error (e) 17. Babar was not only (a)/ a great soldier, (b) / but also a (c) / very wisest ruler. (d) No error (e)

39 18. Weather permitting (a)/ there will be a (b)/garden party on (c)/ the farm house tomorrow. (d) No error (e) 19. As the airplane was, (a)/ ready for take off, (b)/ the passengers and the crew (c)/ fastened themselves seatbelts. (d) No error (e) 0. The teacher admires Rahul (a)/ as he has always (b)/ admired students which (c)/ speak the truth. (d) No error (e) Directions (Q.Nos. 1-5) Pick out the most effective word from the given words to fill in the blank to make the sentence meaningfully complete. 1. How do you expect us to stay in such a... building even if it can be hired on a nominal rent? a. scruffy b. desperate c. fragmented d. robust e. damaging.... efforts from all concerned are required to raise the social and economic condition of our countrymen. a. Perpetual b. Dynamic c. Massive d. Exploring e. Penetrative 3. Many companies see technology as a... for a whole host of business problems. a. consideration b. preference c. linking d. panacea e. craving 4. He admired precision in everything but it never hampered his quick.... a. dealing b. action c. decision d. finalization e. mind you meet my son in the market, ask him to come home at once. a. Would b. Should c. While d. Will e. Let 31. If + means, means, means and means +, then what is the value of ? a. 16 b. 19 c. 17 d. 1 e. None of these 3. In a certain code language DEAR is written as %#$?, RED is written as?#%, MORE is written how is DREAM written in that code? a. #?%$@ b. #%?$@ c. %?$#@ d. %?#$@ e. None of these 33. In a row of children facing North, Seema if shifted to her right by four places becomes eighteenth from the right end of the row. Sudhakar, who is fifteenth from the left end of the row, is fifth to the left of Seema. How many children are there in the row? a. 4 b. 38 c. 41 d. 39 e. None of these 34. If E is replaced by, R by 5, T by 7, D by 3, S by 4, I by 6 and N by 9, then how is RESIDENT written if its letters are reversed? a b c d e. None of these Directions (Q. Nos. 6-30) Which of the phrases (a), (b), (c) and (d) given below should replace the phrases given in bold in the following sentences to make the sentence meaningful and grammatically correct? If the sentence is correct as it is and No correction required, mark (e) as the answer. 6. We have received many complaints from customers and have appointed an auditor to help us identify the reason for the various delays. a. variety of delay b. various delay c. varied delaying d. variety delays e. No correction required 7. A bank has loans to its own employees at interest rates below the rate decided by RBI. a. is giving loans to b. loans their c. can give loans to its d. has given loans for its e. No correction required 8. The Indian banking sector is growing rapidly and banks are opening much of branches in unbanked areas. a. many branches b. numberous branch c. mostly branch d. as much branches as e. No correction required 9. Depending on the location you select the cost of setting up a new factory has vary from ` 50 lakh to ` 10 crore. a. is varied between b. will vary from c. varying about d. could very around e. No correction required 30. Although other parts the world 0% of the farm area is owned by women, in India own less than 7%. a. if in other parts b. however some parts c. where another part of d. while in other parts of e. No correction required Part II Reasoning 35. If the middle digit of each of the following numbers is increased by and then the digits of each number are written in reverse order, which number will be the fourth if arranged in descending order? a. 36 b. 843 c. 566 d. 358 e. 478 Directions (Q.Nos ) Study the following arrangement carefully and answer the questions given below. Q 9 K # 3 E N S A C G U M 7 F I V % 4 Z 8 Y 36. If all the numbers are dropped from the above arrangement, which of the following will be the seventeenth from the right end? a. E b. P c. I d. C 37. Which of the following is the sixth to the left of the fifth to the left of V? a. 3 b. A c. N d. S e. None of these 38. Which of the following is the eighth to the right of the fourteenth from the left end of the above arrangement? a. V b. 4 c. % d. E e. None of these 91 3

40 39. Four of the following five are alike in a certain way based on their positions in the above arrangement and so form a group. Which is the one that does not belong to that group? a. IM% b. CNG c. 3#N d. UGC e. GAU 40. How many such symbols are there in above arrangement, each of which is immediately preceded by an alphabet and immediately followed by a number? a. None b. One c. Two d. Three e. More than three Directions (Q.Nos ) Study the following information carefully to the answer these questions. Seven friends K, M, L, H, F, D and C are sitting around a circle facing the centre. L is second to the right of H who is to the immediate right of C. M is third to the left of D and to the immediate right of F. 41. Who is third to the left of C? a. L b. K c. F d. K or F e. None of these 4. Which of the following pairs of persons represents the neighbours of K? a. LD b. FM c. ML d. CH e. None of these 43. Who is to the immediate right of L? a. K b. D c. H d. M e. None of these 44. Who is second to the right of C? a. M b. L c. D d. F e. None of these 45. Which of the following pairs of persons has the first person sitting to the immediate right of second person? a. DL b. KF c. CH d. DH e. None of these Directions (Q.Nos ) In these questions, relationship between different elements is shown in the statements. The statements are followed by two conclusions. Give Answer a. if only conclusion I is true b. if only conclusion II is true c. if either conclusion I or II is true d. if neither conclusion I nor II is true e. if both conclusions I and II are true 46. Statement F < R O = M T = K Conclusions I. K O II. F < M 47. Statement G = N O P > Q = R Conclusions I. O > R II. P G 48. Statement F < O = L W = S Conclusions I. W F II. O S 49. Statement B = R T < O = P S Conclusions I. B < O II. T < S 50. Statement P > Q A < R = I Conclusions I. A < P II. I > A 9 Directions (Q.Nos ) In each of the questions below are given three statements followed by the three conclusions I, II and III. You have to take the given statements to be true even if they seem to be at variance from commonly known facts. Read all the conclusions and decide which of the given conclusion logically follows from the given statements disregarding commonly known facts. 51. Statements Some tents are buildings. Some buildings are chairs. All chairs are windows. Conclusions I. At least some windows are building. II. Some windows are definitely tents. III. All chairs are tents. a. None follows b. I and II follow c. II and III follow d. Only I follows e. All follow 5. Statements All tables are boards. All pens are boards. All boards are papers. Conclusions I. At least some pens are tables. II. All papers are pens. III. No pen is table. a. All follow b. Either I or III follows c. Only II follows d. Either I or III and II follow e. None of these 53. Statements All chains are cycles. Some cycles are wheels. All wheels are mirrors. Conclusions I. All cycles being mirrors is a possibility. II. At least some wheels are chains. III. Some mirrors are definitely cycles. a. None follows b. Only I follows c. Only II follows d. I and III follow e. All follow 54. Statements Some boxes are hammers. Some hammers are beads. All beads are rings. Conclusions I. Some rings are definitely hammers. II. Some hammers are definitely not boxes. III. All rings are boxes. a. None follows b. Only I follows c. II and III follow d. I and II follow e. All follow 55. Statements All jackets are trousers. No trouser is shirt. Some shirts are caps. Conclusions I. At least some caps are jackets. II. Some shirts are definitely not jackets. III. All trousers are jackets. a. Only I follows b. Only II follows c. Only III follows d. All follow e. None of these Directions (Q. Nos ) Study the following information carefully and answer the given questions. Six friends L, M, N, O, P and Q work in three different cities namely Chennai, Pune and Nashik (not more than two work in a single city). Each of them has a different profession, viz., banker, software engineer, lawyer, lecturer, doctor and psychologist but not necessarily in the same order. 4

41 O works in Chennai and is not a lecturer. M is a banker by profession and works in Pune with only Q, who is a software engineer by profession. N works in Nashik and is not a lawyer by profession. P is a doctor and does not work in Chennai. The only other person who works in Chennai is a lecturer by profession. 56. Which of the following is true for L? a. L is a lecturer by profession. b. L works in the same place as N. c. L is neither a lecturer nor a lawyer by profession. d. L works in Pune. e. None of the above 57. Which two people work in Nashik? a. L and N b. N and P c. L and Q d. N and O e. Can t be determined 58. Which of the following combinations of person, place and profession is correct? a. Q-Nashik-Psychologist b. P-Pune-Doctor c. L-Nashik-Lecturer d. N-ChennaiS-Software engineer e. O-ChennaiL-Lawyer 59. Which of the following is the occupation of N? a. Software engineer b. Psychologist c. Lecturer d. Lawyer e. None of these 60. Who among the following five is a lawyer by profession among the group of friends? a. O b. L c. N d. Q e. None of these Directions (Q. Nos ) Read the following information given below to answer the questions that follow. (i) na ho pa la means they are very intelligent. (ii) pit na sa means you are welcome. (iii) ka da la means who is intelligent. (iv) od ho pit la means they welcome intelligent students. 61. Which of the following means students in that code language? a. od b. la c. ho d. pit e. Data inadequate 6. Which of the following means very in that code language? a. pa b. na c. da d. Data inadequate e. None of these 63. Which of the following statement(s) is/are redundant to answer the above questions? a. Only (iii) b. Only (ii) c. Either (ii) or (iii) d. Either (i) or (iv) e. None of these 64. Gunjan moves towards South-East a distance of 7 km, then she moves towards West and travels a distance of 14 m. From here, she moves towards North-West a distance of 7 m and finally she moves a distance of 4 m towards East and stood at that point. How far is the starting point from where she stood? a. 3 m b. 4 m c. 10 m d. 11 m e. None of these 65. How many such pairs of letters are there in the word MIDNAPORE each of which has as many letters between them in the word as in the English alphabet? a. Two b. Three c. Four d. Five e. More than five Directions (Q. Nos ) What should come in place of the question marks in the following questions? =? a. 1 b c. 1 9 d e ? = 81 1 a. 41 b c d e =? a b. 453 c. 445 d e % of 766 +? = 900 a b c d e % of? = a b. 799 c. 798 d. 789 e =? a. 134 b. 136 c. 144 d. 16 e % of 00 +? = 48%of %of 150 a b c d e =? a b c d e. 50. Part III Numerical Ability =? a b c d e =? a. 9 b. 31 c. 41 d. 37 e. 6 Directions (Q. Nos ) What should come in place of questions marks in the following number series? , 361, 59, 841, 961,? a. 09 b. 136 c d e , 34, 43, 59, 84, 10,? a. 169 b. 148 c. 153 d. 176 e. None of these 78. 4, 36, 7, 180, 540, 1890,? a. 430 b c d e. None of these 79. 8, 31, 1, 485, 1936, 7739,? a b c d e. None of these , 448, 876, 173,? a b. 3 c d e. None of these 81. Complete the below given pattern with suitable choice 1, 5, 17, 53, 161, 485. a b. 154 c d. 137 e

42 8. The difference between 56% of a number and 41% of the same number is 660. What is 8% of that number? a. 35 b. 348 c. 345 d. 358 e. None of these 83. The simple interest accrued on an amount of ` 1450 at the end of 6 years is ` What is the rate of interest percent per annum? a. 11% b. 14% c. 10% d. 1% e. None of these 84. A plot of 575 sq ft is available at the rate of ` 5500 per sq ft. If 5% of the total cost of the plot is to be paid for booking the plot, how much is the booking amount? a. ` b. ` c. ` d. ` e. None of these 85. When the speed of a boat in still water is 4 km/h and the rate of stream is km/h, find upstream speed of the boat. a. 6 km/h b. 5 km/h c. km/h d. 7 km/h e. None of these 86. What is the compound interest accrued on an amount of ` 0, at the rate of 9% per annum at the end of years? a. ` 545. b. ` 57. c. ` 986. d. ` e. None of these % of first number is 60% of the second number. What is the respective ratio of the first number to the second number? a. 4 : 5 b. 3 : 4 c. 5 : 4 d. Data inadequate e. None of these 88. The owner of a television shop charges his customer 16% more than the cost price. If a customer paid ` for a television, then what was the cost price of the television? a. ` b. ` c. ` d. ` e. None of these 89. The average age of a man and his son is 48 years. The ratio of their ages is 11 : 5 respectively. What will be ratio of their ages after 6 years? a. 3 : 4 b. 4 : 3 c. 1 : d. : 1 e. None of these 90. The cost of 0 folders and 15 pens is ` 995. What is the cost of 1 folders and 9 pens? a. ` 600 b. ` 597 c. ` 497 d. Data Inadequate e. None of these 91. In a class of 30 students and teachers, each student got sweets that are 0% of the total number of students and each teacher got sweets that are 30% of the total number of students. How many sweets were there? a. 188 b. 180 c. 08 d. 178 e. None of these 9. If an amount ` is distributed equally amongst 31 children. How much amount would each child get? a. ` 3356 b. ` 3136 c. ` 356 d. ` 3156 e. None of these In an examinations it is required to get 380 of the aggregate marks to pass. A student gets 3% marks and is declared failed by 76 marks. What are the maximum aggregate marks a student can get? a. 945 b. 955 c. 950 d. Data inadequate e. None of these 94. A sum of money is divided among A, B, C and D in the ratio of 4 : 6 : 11 : 13, respectively. If the share of C is ` 7854, then what is the total amount of money of B and D together? a. ` b. ` c. ` d. ` e. None of these 95. A single person takes 8 minutes to type a page. If from 1 : 00 pm to : 00 pm, 1810 pages are to be typed, how many persons should be employed on this job? a. 07 b. 1 c. 49 d. 56 e. None of these Directions (Q.Nos. 96-) Study the following graphs and answers the questions based on them. Circulation of Magazines DSJ BI BW FI BI = Business India DSJ = Salal Street Journal BW = Business World FI = Fortune India Note Figure are hypothetical and do not reflect actual circulation figure of the magazines. Advertisement Tariff per Colour Page (in `) DSJ 96. The total circulation figure for the magazines together in 1988 was approximately a b. 180 c d e. None of these 97. During the years , the magazine that has shown maximum percentage growth in circulation has been a. Business India b. Dalal Street Journal c. Business World d. Fortune India e. Can t be determined BW BI FI 6

43 98. In 1989, if Fortune India were to charge the same rate to its advertisers as Dalal Street Journal was charging a year ago, their cost of advartisement per thousand copies in Fortune India would a. decrease by 50% b. increase by ` 140 c. decrease by ` 400 d. increase by 5% e. Can t be determined 99. In 1988, the advertisement cost for page per thousand copies was the lowest for Hints & a. Business India b. Dalal Street Journal c. Business World d. Fortune India e. Can t be determind. The advertisement cost of colour page per thousand copies for Business World has, from 1987 to 1988 a. remained the same b. decreased by ` 00 c. increased by ` 466 d. increased by ` 00 e. Can t be determined Solutions 1. (d). (b) 3. (a) 4. (c) 5. (e) 6. (c) 7. (b) 8. (d) 9. (e) 10. (c) 11. (a) 1. (c) 13. (e) 14. (b) 15. (d) 16. (b) 17. (d) 18. (a) 19. (d) 0. (c) 1. (b). (b) 3. (a) 4. (a) 5. (e) 6. (b) 7. (c) 8. (a) 9. (c) 30. (d) 31. (e) =?? = = = = (d) D E A R R E D, % # $? M O R # Therefore, D R E A M %? # # % 33. (c) Sudhakar is fifteenth from the left end 15th 0th 18th Left S IIII S III S nd Total number of students = = (b) The letters of the word RESIDENT have been reversed. T N E D I S E R (a) Descending order 894 > 873 > 685 > 655 > th 36. (e) According to the question, the new sequence would be ENSAC G UM FIV%ZY 17th from the right end 37. (d) 6th to the left of the 5th to the left to V means 11th to the left of V i.e., S. 38. (c) 8th to the right of the 14th from the left end means nd from the left end i.e., %. 39. (d) I 3 M + 5 % C 3 + N 5 G 3 3 # + 5 N U G C 3 G A + 5 U 40. (c) Such combinations are P@3 and V%4. Solutions (Q.Nos ) Sitting arrangement 41. (b) 4. (e) 43. (a) 44. (c) 45. (d) 46. (a) Statement F < R O = M T = K Conclusions I. K O (True) II. F < M (False) Hence, Only I is true. 47. (a) Statement G = N O P > Q = R Conclusions I. O > R (True) II. P G (False) Hence, only I is true. 48. (b) Statement F < O = L W = S Conclusions I. W F (False) II. O S (True) Hence, only II is true. 49. (d) Statement B = R T< O = P S Conclusions I. B < O (False) II. T < S (False) Hence, none is true. 50. (e) Statement P > Q A < R = I Conclusions I. A < P (True) II. I > A (True) Hence, both I and II are true. 51. (d) Tent D H Conclusions I. II. III. Hence, only conclusion I follows. L C Building K M F Chair Window 5. (b) Conclusions I. II. II. or Hence, either I or III follows. 53. (d) Conclusions I. II. III. Hence, I and III follow. 54. (b) Conclusions I. II. III. Hence, only conclusion I follows. 55. (e) Boxes Table Chain Cycle Jacket Trouser Board Paper Hammers Pen Wheel Shirt Mirror Beads Rings Conclusions I. II. III. Hence, none follow. Cap Solutions (Q.Nos ) According to the given information Friend City Profession L Chennai Lecturer M Pune Banker N Nashik Psychologist O Chennai Lawyer P Nashik Doctor Q Pune Software engineer 56. (a) 57. (b) 58. (e) 59. (b) 60. (a) Solutions (Q. Nos ) According to the given information na ho pa la they are very intelligent...(i) pit na sa you are welcome...(ii) ka da la who is intelligent...(iii) od ho pit la they welcome intelligent students...(iv) From Eqs. (i), (ii), (iii) and (iv), la intelligent, na are, ho they, pa very, pit welcome, od students, sa you 95 7

44 61. (a) 6. (a) 63. (a) 64. (c) The movements of Gunjan s are as shown in figure. Clearly, Gunjan s distance from the starting point 65. (e) OD = (OC CD) = (AB CD) = 14 4 = 10 m Required pairs are NP, NR, AE, PR, EM, OP. Hence, there are six such pairs (c) = = = (c) 3985? = x = = 97 x 3985 = 97 x x = x = 41; x = (d) = x = x x = = (b) 44% of x = x = x = 900 x = = (d) 67% of ( x ) = x 67 = x = x = = (a) = (d) 30% of 00 + x = 48% of % of x = x = x = x = x = 189 x = m D C 7 m O B 7 m 14 m M I D N A P O R E A 73. (d) = (a) = (b) = = (e) (a) 78. (c) 79. (d) 80. (a) (c) The pattern of number series is as follow = = = = = = (a) Suppose that the number is x. 56% of x 41% of x = x x = x 41x = x 41x = x = x = = 44 = % of 4400 = 4400 = (d) SI = ` 8964, P = ` 1450, T = 6 yr, r =? 8964 R = = = = 1% (b) Total cost = = ` Booking account 5 = = ` (a) Given that, x = Boat s speed in still water = 4 km/h y = Rate of stream = km/h Upstream speed of boat = ( x y) = ( 4 ) = km/h T 86. (b) CI = r + P 1 1 = = = = = 0 00 = = ` (c) Suppose first number is x and second is y. 48% of x = 60% of y x = y 48x = 60y x y = 60 = = 5 : (a) Suppose that the cost price of television is ` x. According to the question, 16 x + x = x x + = x = x = = ` (d) Total age = 48 = 96 yr 96 Man s age = = 6 = 11 6 = 66 yr Son s age = = 6 = 6 5 = 30 yr 16 After 6 yr the ratio = : = 7 : 36 = : (b) 0 chairs + 15 tables cost = ` chairs +3 tables cost = ` chairs +9 tables cost = = ` (e) Each student got 0% of 30 0 = 30 = 6 Total sweets = 30 6 = 180 Each teacher got = 30% of 30 = 9 Total sweets = 9 = 18 Total sweets = = (d) Child get = = ` (c) Students total marks obtain = = 304 According to the question, 3% of x = x = x = x = = 9. 5 =

45 94. (a) According to the question, 11x = 7854 x = = 714 (B and D) s amount = 6x + 13 x = 19x 95. (e) In 1 h = 60 min Q 60 pages typed by 1 man. 8 1 page typed by = = ` pages typed by = 8 men 96. (c) Total circulation in (b) = = Magazine Growth Percentage Business India = 53. 3% 45 Dalal Street Journal = 17% 18 Business World 3 5 = 8% 5 Fortune India 31 0 = 55% 0 Hence, it is maximum for Dalal Street Journal. 98. (a) Required percentage decreasement = = = (b) Magazine = 50% Advertising cost per 0 copies Dalal Street Journal =` Business World = ` Fortune India =` Business India =` Hence, it is lowest for Dalal Street Journal.. (c) Advertising cost per 0 copies of Business World in 1987 = = ` Advertising cost per 0 copies of Business World in 1988 = = ` Hence, the cost has increased by `

46

47 Exam Focus ON E L ner BANKING AWARENESS BANKING INNOVATION Who has given nod to Spice Digital Ltd for processing Bill payment under Bharat Bill Payment System (BBPS) as a Bharat Bill Payment Operating Unit (BBPOU)? National Payments Corporation of India The amount of funds that the banks have to keep with the RBI, is knows as Cash Reserve Ratio In which city SBI InCube was launched first? Bengaluru Who oversee the insolvency proceedings of various service providers in India? Insolvency and Bankruptcy Board of India When the Bank Board Bureau was constituted? February, 016 Under the Banking Ombudsman Act, what is the maximum amount of compensation? `10 Lakh ATMs set up, owned and operated by non-banking Finance Companies are called White Label ATMs What is the credit limit for Commercial Banks to provide to Priority Sector? 40% Where is the head office of Vijya Bank located? Bengaluru Which of the following is the parent organisation of UPI? NPCI Payment and Settlement Systems Act came into effect from December 0, 007 What is the upper transaction limit of UPI system? `1 lakh A bank included in second schedule of RBI Act, 1934 is Scheduled Bank Under which method of note-issue the RBI issues notes? Minimum Reserve System ECONOMY The equity of government of India in India Post Payment Bank (IPPB) is % The GDP growth of India in as per data released by government s Central Statistics Office (CSO) was 7.1% Monetary policy and Fiscal are the policies of India is related to the Macro-Economic Policy of India 1 The marketing of Food Products in India by FDI is % Monetary policy is used by RBI for controlling Inflation or Deflation The call money rate is high in the money market is called as Tight If a ` 1 note is issued by government of India, then what RBI do? Put into Circulation On the bass of holding minimum value of gold coins and bullion and holding minimum foreign securities as a part of the total approved assets. RBI issues Currency Rupee Notes The Foreign Exchange Reserves of India are kept in the custody of RBI Payment made by the government to business enterprises, without buying any goods and services is called Subsidies The most appropriate measure of a country s economic growth is its Per Capita Real Income The first SEZ promoted by a corporate is Mahindra SEZ (Pune) India has entered into Comprehensive Economic Co-operation Agreement with Singapore An economic situation of slow economic growth, high rate unemployment and inflation, is called Stagnation PUBLIC FINANCE GST, which was introduced in India on July 1, 017, is Indirect Tax The GST is governed by a GST Council and its Chairman is the Finance Minister of India The Goods and Services Tax was launched at midnight by the Prime Minister Narendra Modi on June 30, 017 The GST Act was passed in the Lok Sabha on March 9, 017 A tax imposed upon a person or property as distinct from a tax imposed upon a transaction is Direct Tax India adopted a dual GST model, meaning that taxation is administered by both the Union and State Governments With the introduction of the Modified Value Added Tax (MODVAT) the reform process of India s indirect tax regime was started in 1986 by Vishwanath Pratap Singh Which tax is charged to individuals, co-operative societies, firms, companies, Hindu Undivided Families, trusts and any artificial judicial person? Income Tax Which tax is charged on royalties, interest, gains from sale of capital assets located in India, fees for technical services and dividends? Corporate Tax Which tax is charged on the benefits derived from property ownership? Wealth tax Which tax is taxed on the income derived from the sale of assets or investments? Capital Gains Tax A tax collected by an intermediary from the person who bears the ultimate economic burden of the tax, is Indirect Tax A tax which is levied on the Services provided by an entity is Service Tax An indirect tax levied on those goods which are manufactured in India, is Excise Duty A multi-point destination based system of taxation, with tax being levied on value addition at each stage of transaction in the production/ distribution chain, is known as VAT A type of Indirect tax which is levied on goods which are imported into India is Customs Duty A type of Indirect tax which is levied at the time of sale/purchase of securities through the Indian Stock Exchanges. Securities Transaction Tax The Finance Commission was established by the President of India in 1951 under which article of the Indian Constitution? Article-80 STOCK MARKET To whom SEBI has given approval to launch India s first gold option contract? Multi Commodity Exchange Ltd Who is the head of Fair Market Conduct committee set-up by SEBI? TK Viswanathan 1

48 The Ministry of Finance has launched the scheme to speed up the process of disinvestment, is Bharat What is the number of National Commodity Exchanges in India? Six Which committee was formed to give suggestion on customer services in banking sector? Goiporia Committee India Infrastructure Fund has got a loan of $150 million from Asian Infrastructure Investment Bank (AIIB) The Fund which SEBI has directed to be set-up by the commodity derivatives exchanges is known as Investor Service Fund The new share price index in dollar value in Mumbai share market is called DOLEX Resurgent India Bonds were issued in US dollar, Pound Sterling and Deutsche Mark A promissory note that is not secured by any collateral or not secured by a mortgage or lien marked on any property is Debenture Instrument The stock exchange is derecognised by SEBI in 014 on the allegations of serious irregularities in its functioning Delhi Stock Exchange FINANCIAL INSTITUTION NABARD is an apex development financial institution in India, headquartered at Mumbai Which institution is set-up by the government of India with a mandate for facilitating credit flow for promotion and development of agriculture, cottage and village industries? NABARD NABARD is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion Bangiya Gramin Vikash Bank is a premier Regional Rural Bank established in terms of provisions of Regional Rural Banks Act 1976 and is sponsored by United Bank of India SIDBI was set up on April, 1990 under Small Industries Development Bank of India Act The business domain of SIDBI consists of Micro, Small and Medium Enterprises IDBI Bank is an Indian governmentowned financial service company, formerly known as Industrial Development Bank of India IDBI Bank s headquarter is situated in Mumbai IDBI was established in 1964 Andhra Pradesh Grameena Vikas Bank was established in which year as a Regional Rural Bank? 006 Kaveri Grameena Bank came into existence on November 1, 01 Kerala Gramin Bank is India s largest RRB, headquartered at which place in Kerala, (India)? Malappuram Export Import Bank of India is the premier export finance institution in India, established in which year? 198 ICICI Bank is an Indian multinational banking and financial services company headquartered in Mumbai The first Land Development Bank was started at Jhang (Punjab) in 190 Land development bank provides long-term funds for various agriculture related projects besides development of Land and Business National Housing Bank (NHB), a wholly owned subsidiary of RBI was set-up on July 9, 1988 under the National Housing Bank Act, July 9, 1988 The Head Office of the Langpi Dehangi Rural Bank is situated at Diphu Uttarakhand Gramin Bank is headquartered at INTERNATIONAL ORGANISATION Dehradun The headquarter of International Commission on Missing Persons (ICMP) is located in The Hague The formation year of International Maritime Organisation is 1959 International organisation for Migration was set-up in 1951 The headquarter of Universal Postal Union is located in Bern (Switzerland) The total member of International Civil Aviation Organisation (ICAO) is 191 The World Intellectual Property Organisation (WIPO) is located in Geneva The formation year of World Tourism Organisation (UNWTO) is 1975 The formation year of Bank for International Settlements (BIS) is 1930 The headquarter of World Customs Organisation (WCO) is located in Brussels How many organizations are there under World Bank? 5 Total number of members in International Finance Corporation (IFC) is 184 The headquarter of Organisation of the Petroleum Exporting Countries (OPEC) is located in Vienna MISCELLANEOUS The book titled Indira: India s Most Powerful Prime Minister has been written by Sagarika Ghose The mession under which Union Ministry will launch a Deendayal Antyodaya Yojana, is National Rural Livelihoods Mission. The GST Council recently constituted a selection committee to identify members and head of the National Anti-Profiteering Authority. The chairman of the committee is PK Sinha Which MP has won the award for Best Woman Parliamentarian of the Year (Rajya Sabha) at Lokmat Parliamentary Awards 017? Jaya Bachchan Public sector bank launched a one stop integrated website for home buyers, is State Bank of India The Centre has asked the State governments to set-up their own insurance companies for better implementation of the Crop Insurance Scheme Which actress won the best actor (female) award in the 18th edition of IIFA awards, which was announced on July 15, 017? Alia Bhatt Nelson Mandela International Day was observed across the world on July 18 According to data released by the Central Statistics Office, in May 017 India s industrial output slowed to 1.7% The State that became the first State to minimum education qualification for cooperative body poll is Rajasthan Which Organisation awarded the coveted National level Golden Peacock Award for the Year 017 for Eco-Innovation? Indian Railways Organisation for Alternate Fuel The Union government has launched an App to verify the accurate tax rate on commodity and services under the Goods and Services Tax (GST) regime. Name of the App is GST Rates Finder The winner of the 017 French Open Men s Singles title is Rafael Nadal The Shipping Corporation of India in collaboration with Ministry of Shipping, government of India organised Sabka Saath Sabka Vikas sammelan in Mumbai Which noted Telugu and Urdu poet and writer, a Padma Bhushan and Padma Shri awardee, passed away on June 1, 017 is C. Narayana Reddy China's first X-ray Space Satellite that was launched recently is Insight Which State has decided to carry out a social audit of the Public Distribution System (PDS) to gauge effective implementation of the Right to Food Act, 013? Bihar Which tier II city is the first to get the services of India s metro rail system? Kochi Which sportswoman is the sole female to feature in 017 Forbes list of The World s highest paid athletes? Serena Williams India bagged five medals including gold in the 017 Asian Junior Wrestling Championships held in Taiwan 13

49 Knowledge Plus ECONOMY & BANKING Q&A Explain the Electronic Clearing Service (ECS)? ECS is an electronic mode of payment / receipt for transactions that are repetitive and periodic in nature. ECS is used by institutions for making bulk payment of amounts towards distribution of dividend, interest, salary, pension, etc., or for bulk collection of amounts towards telephone / electricity / water dues, cess / tax collections, loan instalment repayments, periodic investments in mutual funds, insurance premium etc. Essentially, ECS facilitates bulk transfer of monies from one bank account to many bank accounts or vice versa. ECS includes transactions processed under National Automated Clearing House (NACH) operated by National Payments Corporation of India (NPCI). Describe the Over-the-Counter Exchange of India (OTCEI)? The OTCEI is a company incorporated under the Companies Act, It was set-up to provide small and medium companies an access to the capital market for raising finance In a cost effective manner. It is fully computerised, transparent, single window exchange which commenced trading in 199. This exchange is established on the lines of NASOAO the OTC exchange in USA. If has been promoted by UTI, ICICI, lobi, IFCI, LIC, GIC, SBI capital markets and can bank financial services. It is a negotiated market place that exists any where as opposed to the auction market place, represented by the activity on securities exchange. Thus, in the OTC exchange, trading takes place when a buyer or seller walks up to an OTCEI counter, taps on the computer screen, funds quotes and effects a purchase or sale depending on whether the prices meet their target. What are the Know-Your-Customer (KYC) Norms? Know-Your-Customer (KYC) norms will be the same as that for purchase of physical form of gold. Identification documents, such as Aadhaar card/pan or TAN /Passport / Voter ID card will be required. KYC will be done by the issuing banks/shcil offices/post Offices/agents. No separate KYC will be needed for receiving bank s own customers Describe the Arbitrage Fund? Arbitrage fund is a type of mutual fund that leverages the price differential in the cash and derivatives market to generate returns. The returns are dependent on the volatility of the asset. These funds are hybrid in nature as they have the provision of investing a sizeable portion of the portfolio in debt markets. Arbitrage funds are the panacea for low risk taking investors. In a situation of high and persistent volatility, arbitrage funds provide investors a safe avenue to park their hard earned money. These funds capitalise on the market inefficiencies and generate profits for the investors. As these funds invest predominantly in equities, their tax treatment is at par with equity funds Explain the Indian Financial System Code. The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the two main payment and settlement systems in India- the Real Time Gross Settlement (RTGS) and the National Electronic Fund Transfer (NEFT) systems. Bank-wise lists of IFS Codes are available with all the bank-branches participating in inter-bank electronic funds transfer. A list of bank-branches participating in NEFT/RTGS and their IFS Code is available on the website of Reserve Bank of India.All the banks have also been advised to print the IFS code of the branch on cheques issued by branches to their customers. What is the Role of Banking Codes and Standard Board of India for Micro and Small Enterprizes? The Banking Codes and Standard Board of India (BCSBI) constituted a Working Group comprising members from select banks, Indian Banks Association, Rural Planning & Credit Department (now renamed as Financial Inclusion and Development Department) of Reserve Bank of India to formulate a Banking Code for SME Customers. On the basis of discussions with Industry Associations, banks, SIDBI and government agencies, the BCSBI has formulated a Code of Bank's Commitment to Micro and Small Enterprises. This is a voluntary Code, which sets minimum standards of banking practices for banks to follow when they are dealing with Micro and Small Enterprises (MSEs) as defined in the Micro Small and Medium Enterprises Development (MSMED) Act, 006. The Code may be accessed on the website of BCSBI What is Swap? Swap refers to an exchange of one financial instrument for another between the parties concerned. This exchange takes place at a predetermined time, as specified in the contract. Swaps are not exchange oriented and are traded over the counter, usually the dealing are oriented through banks. Swaps can be used to hedge risk of various kinds which includes interest rate risk and currency risk. Currency swaps and interest rates swaps are the two most common kinds of swaps traded in the market. Explaen briefly about 'Blue Chip Stocks'? Blue chip stocks are shares of very large and well-recognised companies with a long history of sound financial performance. These stocks are known to have capabilities to endure tough market conditions and give high returns in good market conditions. Blue chip stocks generally cost high, as they have good reputation and are often market leaders in their respective industries. 1

50 09 10 What is the Applicable Limit and Purpose for Social Infrastructure Loans under Priority Sector? Bank loans up to a limit of ` 5 crore per borrower for building social infrastructure for activities namely schools, health care facilities, drinking water facilities and sanitation facilities (including loans for construction/ refurbishment of toilets and improvement in water facilities in the household) in Tier II to Tier VI centres are eligible for classification under priority sector. Bank credit to Micro Finance Institutions (MFI) extended for on-lending to individuals/ members of SHGs/ JLGs for water and sanitation facilities is also eligible for classification as priority sector loans under Social Infrastructure subject to certain criteria. How will Your Bank Decide Your Home Loan Eligibility? 13 What is Legal Tender? The coins issued under the authority of Section-6 of The Coinage Act, 011, shall be legal tender in payment or on account i.e., provided that a coin has not been defaced and has not lost weight so as to be less than such weight as may be prescribed in its case- (a) coin of any denomination not lower than one rupee shall be legal tender for any sum, (b) half rupee coin shall be legal tender for any sum not exceeding ten rupees. Every banknote issued by Reserve Bank of India (`, ` 5, ` 10, ` 0, ` 50, `, ` 00, ` 500 and ` 000) shall be legal tender at any place in India in payment or on account for the amount expressed therein, and shall be guaranteed by the Central government, subject to provisions of Sub-section () Section-6 of RBI Act, Your bank will assess your repayment capacity while deciding the home loan eligibility. Repayment capacity is based on your monthly disposable / surplus income, (which in turn is based on factors, such as total monthly income / surplus less monthly expenses) and other factors, like spouse's income, assets, liabilities, stability of income etc. The main concern of the bank is to make sure that you comfortably repay the loan on time and ensure end use. The higher the monthly disposable income, higher will be the amount you will be eligible for loan. Typically a bank assumes that about % of your monthly disposable / surplus income is available for repayment of loan. However, some banks calculate the income available for EMI payments based on an individual s gross income and not on his disposable income.the amount of the loan depends on the tenure of the loan and the rate of interest also as these variables determine your monthly outgo / outflow which in turn depends on your disposable income. Banks generally fix an upper age limit for home loan applicants. 11 What are the Priority Sector Lending Certificates? The Priority Sector Lending Certificates (PSLCs) are certificates issued by banks that have overreached their priority sector lending targets. PSLCs thus can be issued only up to the extent of their over lending to the stipulated sectors. Buyers of PSLCs are usually those banks who could not meet their priority sector lending targets. The price of PSLCs will be determined on the basis of demand and supply that will be reflected in the auction under the RBI s e-kuber trading platform. As per the RBI guidelines, banks can issue four types of PSLCs including three subsector-pslcs- agriculture, small and marginal farmers, micro enterprises and one PSLC for general. 1 Is there any difference between such Small Accounts and Other Accounts? Yes, the Small Accounts have certain limitations such as : Balance in such accounts at any point of time should not exceed ` Total credits in one year should not exceed ` 000 Total withdrawal and transfers should not exceed ` 00 in a month. Foreign remittances cannot be credited to such accounts. Such accounts remain operational initially for a period of twelve months and thereafter, for a further period of twelve months, if the holder of such an account provides evidence to the bank of having applied for any of the officially valid documents within twelve months of the opening of such account. The bank will review such account after twenty four months to see if it requires such relaxation. 15