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Quick Revision - 06

PUBLISHED BY: SURENDER KUMAR
NOVEMBER 30, 2014

   
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1. Education loan is covered under the priority sector- Upto Rs. 10 lakhs for education in India and Rs. 20 lakhs for education abroad

 

2. The real name of World Bank- International Bank for Reconstruction and Development

 

3. SARFAESI Act 2002 is applicable to such cases where recovery has been less than - 80%

 

4. Popular name for M3- Broad Money

 

5. A Business Correspondent is – An agent of a Bank, who provides banking services in remote, rural areas

 

6. Facilities offered by RBI under Liquidity Adjustment Facility (LAF) -Repo, Reverse Repo & Marginal Standing Facility

 

7. NEFT services are run by – RBI

 

8. Upto what limit can the funds can be sent through NEFT? - No limit

 

9. For a crossed cheque, the payment cannot be made in cash, it has to be  - Deposited in an account

 

10. Chairman of 14th Finance Commission- Dr. Y V Reddy

 

11. 14th Finance Commission recommendations will be applicable from 2015 -2020

 

12. The Finance Commission is appointed under - Article 280 of the constitution

 

13. The planning Commission is appointed under which Article of the constitution- Not provided in the constitution (It is an extra-constitutional body)

 

14. Function of public debt office in India is performed by - Reserve Bank of India

 

15. The negative list in Service Tax comprises- List of services exempted from tax

 

16. With effect from FY 2012-13, e-filing of income tax return has been made mandatory for - All individuals with income of 5 lakh and more

 

17. In the budget for 2013-14, the government has proposed surcharge of 10% on persons with a minimum income of  - Rs. 1 crore

 

18. The account into which all the government revenues, loans raised and receipts from loan recovery go - Consolidated Fund of India

 

19. The account in which Rs. 500 crores drawn from the Consolidated Fund are maintained and lie at the President’s disposal for unforeseen expenses - Contingency Fund

 

20. The new, simplified income tax return forms for salaried individuals is- SAHAJ

 

 



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