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Quick Revision - 10

JANUARY 28, 2015

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 Quick Revision - 10

1. Simplified income tax return forms for individuals with business income --- SUGAM

2. Rate of interest at which the banks borrow money among themselves for short period --- Call Rate

3. Buying or selling of stocks/ commodities/ foreign exchange for delivery at a later date ---  Forward Trading

4. Foreign currency loans taken by Indian companies from overseas institutions --- External Commercial Borrowing (ECB)

6. Various indirect taxes like Sales Tax, VAT, Excise and Customs will be very shortly merged into --- Goods and Services Tax

7. Index to compute production in industrial sector --- IIP (Index of Industrial Production)

8. Base year of the new Consumer Price Index (CPI) ---  2010

9. In foreign trade, packing credit is a --- Loan to exporters

10. Capital Adequacy Norms for the banks all over the world have been formulated by --- Bank for International Settlements (BIS)

12. Bank for International Settlements is based in --- Basel, Switzerland

13. A cheque is now valid for --- 3 months from the date of issue

14. The banks cannot charge interest on any loan below --- Base Rate

15. The banks cannot charge interest below the base rate in any case except --- loan against bank’s own deposits, loan to the banks’ own staff, loans under differential rate of interest scheme of the government

16. Percent of banks’ total loans to the priority sector --- 40%

17. Rate of interest charged by RBI charges from banks while advancing them against rediscounting of bills --- Bank Rate

18. An opportunity to buy an asset at a low price and sell it dearer in a different market ---  Arbitrage

19. Reducing risk by taking a position in the future market to reduce or limit the risk of price changes --- Hedging

20. ‘Swabhiman’ is a government campaign to --- Promote Financial Inclusion




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