Banking Awareness Quiz With Explanation: Part 12

(1). Where is the headquarter of National Bank for Agriculture and Rural Development(NABARD)?
(a) Mumbai
(b) New Delhi
(c) Kolkata
(d) Chennai

(2). What is 'first A' stands for in GAAR?
(a) Account
(b) Asset
(c) Anti
(d) Audit 

(3). Who is the Managing Director of EXIM Bank?
(a) Shri Yaduvendra Mathur
(b) Shri David Rasquinha
(c) Ashok Lahiri
(d) Anand Mahindra 

(4). Recently, revised Prompt Corrective Action (PCA) is released by
(a) Ministry of Employment
(b) SEBI
(c) Finance Ministry
(d) Reserve Bank of India 

(6). What is the maturity period of Kisan Vikas Patra?
(a) 150 months
(b) 50 months
(c) 100 months
(d) 200 months 

(7). What is the maximum amount that can be remitted through Nepal Remittance Scheme?
(a) INR 25,000
(b) INR 50,000
(c) INR 75,000
(d) INR 100,000 

(8). What is 'first A' stands for in DTAA(a tax law)?
(a) Avoidance
(b) Average
(c) Audit
(d) Asset 

(9). What is the minimum amount that can be invested in Kisan Vikas Patra?
(a) Rs. 1000
(b) Rs. 2000
(c) Rs. 5000
(d) Rs. 10000 

(10). Who is the Chairman of National Bank for Agriculture and Rural Development(NABARD)?
(a) Mr. David Rasquinha
(b) Geetha Muralidhar
(c) T.S.Vijayan
(d) Dr. Harsh Kumar Bhanwala 

EXPLANATION:

(1). Answer Key: (a)
NABARD's headquarter is in Mumbai, India.

(2). Answer Key: (c)
General Anti-Avoidance Rule (GAAR) is an anti-tax avoidance regulation of India. It was introduced by then Finance Minister, Pranab Mukherjee, on 16 March 2012 during the Budget session.

(3). Answer Key: (b)
Shri Yaduvendra Mathur, IAS, took charge as Chairman & Managing Director of the Bank for a tenure of three years, from February 2014 to February 2017. Shri David Rasquinha has taken additional charge of the post of Managing Director of Exim Bank from February 2017.

(4). Answer Key: (d)
The RBI on Thursday very categorically put forth a revised Prompt Corrective Action (PCA) framework on which the banks would be monitored. According to the latest Prompt Corrective Action (PCA), the banks will be monitored on three parameters viz. Capital, Asset Quality, Profitability.

(5). Answer Key: (b) 

A fiscal deficit occurs when a government's total expenditures exceed the revenue that it generates, excluding money from borrowings. Deficit differs from debt, which is an accumulation of yearly deficits.

(6). Answer Key: (c)
The maturity period is 100 months or eight years and four months.

(7). Answer Key: (d)
Nepal Remittance Scheme is a cross-border one-way remittance facility scheme for remittance from India to Nepal. Maximum amount remittance is INR 50,000 and beneficiaries will receive in Nepalese Rupees.

(8). Answer Key: (a)
The DTAA, or Double Taxation Avoidance Agreement is a tax treaty signed between India and another country ( or any two/multiple countries) so that taxpayers can avoid paying double taxes on their income earned from the source country as well as the residence country.

(9). Answer Key: (a)
No cap on the maximum amount you want to invest. Minimum is Rs.1000.

(10). Answer Key: (d)
Dr. Harsh Kumar Bhanwala has been the Chairman of National Bank for Agriculture and Rural Development (NABARD) since December 18, 2013.

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