Banking and Financial Awareness – 10

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Agnihotri Ravindra

08 Feb, 2013

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Banking Awareness, Uncategorized,

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1) In February 2013, who was appointed as the head of a panel constituted by Steel Ministry to give its recommendations for appointment of Chairman of National Minerals Development Corporation (NMDC)? – Arun Maira (Member, Planning Commission) NMDC has been without a chairman for more than one-and-half year now

2) Which two public sector undertakings (PSUs) were granted the Maharatna status by union govt. on 1 February 2013? – BHEL and GAIL (This will provide these two PSUs greater financial and functional autonomy and ensure better valuation of their shares)

3) What was the fiscal deficit of the centre during the April-December 2012 period according to data released by the Controller General of Accounts (CGA)? – Rs. 4.04 lakh crore or 78.8 per cent of the total Budget Estimate (BE) of Rs. 5.14 lakh crore for the pertaining period

4) The Union Cabinet on 31 January 2013 approved a revival package for the ailing public sector unit Scooters India Limited (SIL). How much financial assistance would be provided to SIL under this package? – Rs. 200 crore

5) A seven-member expert committee was constituted by the Information and Broadcasting Ministry on 29 January 2013 to review the institutional framework of Prasar Bharti. Who was made head of this committee? – Sam Pitroda, the Advisor to the Prime Minister on Public Information Infrastructure (Jawahar Sircar, CEO Prasar Bharati, has been made convener of this committee)

6) What is the name of newly constituted committee to take decisions on investments, whose first meeting was held on 30 January 2013? – Cabinet Committee on Investments (CCI)

7) Reserve Bank of India (RBI) on 29 January 2013 reduced repo rate by 25 points, which is expected to bring down interest rates. RBI also reduced cash reserve ratio (CRR) by 25 points. What are the new repo rate and CRR after this decrease? – Repo Rate 7.75 per cent and CRR 4.25 per cent (Repo rate was first cut in current fiscal during April 2012, when it was reduced by 50 points)

8) A day after resolving the contentious Central Sales Tax (CST) issue, state finance ministers on 29 January formed how many sub-committees to look into some remaining roadblocks for implementation of GST? – Three (One sub-committee will deal with integrated GST (IGST), another sub-committee will address issues pertaining to revenue neutral rates (RNR) and Place of Supply Rules (PSR). The third sub-committee will deliberate mostly on service tax rules)

9) First exit of a stock exchange as per SEBI’s guidelines was marked with SEBI allowing a stock exchange to exit in its position as a stock exchange. Which is the stock exchange to make this exit? – Hyderabad Securities and Enterprises Limited (erstwhile Hyderabad Stock Exchange (HSE) – There are currently 25 stock exchanges across the country, most of which are non-operational and only five have been trading on their platform which includes NSE, BSE, MCX, USE and CSE. Regional stock exchanges started losing their business after BSE and NSE launched nationwide trading terminals

10) Who is the Chairman of the committee, which was set up by the Planning Commission to recommend detailed methodology for identification of BPL families in urban India? – SR Hashim

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