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10 PM Quiz: April 9, 2018
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- Question 1 of 6
1. Question
1 pointsWith reference to Non-Performing Assets, which of the following statement is/are correct?
- An asset would be classified as NPA if it has remained in the substandard category for a period of 12 months.
- Assets which has remained NPA for a period less than or equal to 12 months are called Doubtful assets
Select the correct answer using the code given below
Correct
Statement 1 is incorrect: Assets which has remained NPA for a period less than or equal to 12 month is called Substandard assets.
Statement 2 is incorrect. An asset would be classified as doubtful if it has remained NPA for a period of 12 months or more is called Doubtful assets.
Incorrect
Statement 1 is incorrect: Assets which has remained NPA for a period less than or equal to 12 month is called Substandard assets.
Statement 2 is incorrect. An asset would be classified as doubtful if it has remained NPA for a period of 12 months or more is called Doubtful assets.
- Question 2 of 6
2. Question
1 pointsWith reference to ‘Letter of Undertaking’, recently in news, which of the following statement is/are correct?
- LoU is an undertaking provided by one bank to another bank domestically.
- LoUs are used by a bank’s customer to avail long-term credit only.
Select the correct answer using the code given below
Correct
Statement 1 is incorrect. LoU is an undertaking provided by one bank to another bank, in favour of or on behalf of a customer, to meet a liability on behalf of an importer, based on which foreign branches offer credit to buyers.
Statement 2 is incorrect. LoUs are used by a bank’s customer to avail short-term credit in a foreign country.
Incorrect
Statement 1 is incorrect. LoU is an undertaking provided by one bank to another bank, in favour of or on behalf of a customer, to meet a liability on behalf of an importer, based on which foreign branches offer credit to buyers.
Statement 2 is incorrect. LoUs are used by a bank’s customer to avail short-term credit in a foreign country.
- Question 3 of 6
3. Question
1 pointsIndradhanush plan launched by the government is related to which of the following?
Correct
Indradhanush plan is a 7 pronged plan launched by Government of India to resolve issues faced by Public Sector banks. It aims to revamp their functioning to enable them to compete with Private Sector banks.
Incorrect
Indradhanush plan is a 7 pronged plan launched by Government of India to resolve issues faced by Public Sector banks. It aims to revamp their functioning to enable them to compete with Private Sector banks.
- Question 4 of 6
4. Question
1 pointsVickers’ Commission is related to which of the following?
Correct
The Independent Commission on Banking (also known as the “Vickers Commission”) is a five-member panel appointed by the U.K. government in 2010. The commission, which is chaired by former Chief Economist of the Bank of England Sir John Vickers, issued its final report and recommendations on September 12, 2011.
Incorrect
The Independent Commission on Banking (also known as the “Vickers Commission”) is a five-member panel appointed by the U.K. government in 2010. The commission, which is chaired by former Chief Economist of the Bank of England Sir John Vickers, issued its final report and recommendations on September 12, 2011.
- Question 5 of 6
5. Question
1 pointsWith reference to “Haircut”, recently in news, which of the following statement is/are correct?
- A haircut is the difference between the loan amount and the actual value of the asset used as collateral.
- Haircut’ is one of the options to address the problem of non-performing assets.
Select the correct answer using the code given below.
Correct
Statement 1 is correct. A haircut is the difference between the loan amount and the actual value of the asset used as collateral.
Statement 2 is correct. Haircut’ is one of the options to address the problem of non-performing assets.
Incorrect
Statement 1 is correct. A haircut is the difference between the loan amount and the actual value of the asset used as collateral.
Statement 2 is correct. Haircut’ is one of the options to address the problem of non-performing assets.
- Question 6 of 6
6. Question
1 pointsWith reference to “Fugitive Economic Offenders Bill, 2017, which of the following statement is/are correct?
- The burden of proof for establishing that an individual is offender will be on authorities.
- It is applicable in cases where the value of offences is not more than Rs 100 crore.
- The cases will be tried under Prevention of Money Laundering Act, 2002.
Select the correct answer using the code given below
Correct
Statement 1 is correct: The burden of proof for establishing that an individual is offender will be on authorities.
Statement 2 is incorrect. It is applicable in cases where the value of offences is over Rs 100 crore.
Statement 3 is correct. The Bill entrusts responsibility to try such cases to the courts under Prevention of Money Laundering Act, 2002(PMLA).
Incorrect
Statement 1 is correct: The burden of proof for establishing that an individual is offender will be on authorities.
Statement 2 is incorrect. It is applicable in cases where the value of offences is over Rs 100 crore.
Statement 3 is correct. The Bill entrusts responsibility to try such cases to the courts under Prevention of Money Laundering Act, 2002(PMLA).
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