SNAP GK Test - 4

In banking terminology, IPO price refers to the price at which shares are offered to investors before they begin trading on the stock exchange. This is the subscription price determined by the company and lead managers. It is not the margin call notice (A), not the listing date (D), and not simply the quotation for trading commencement (B).

The Agreement on the Prohibition of Attacks against Nuclear Installations and Facilities between India and Pakistan was signed in December 1988. This bilateral agreement requires both countries to refrain from attacking each other's nuclear facilities and involves annual exchange of nuclear unit lists. The other dates (1999, 2003, 2011) do not correspond to this specific agreement.

The 'Sunshine Policy' was initiated by South Korean President Kim Dae-jung in the late 1990s as a reconciliation strategy toward North Korea. This policy led to the 2000 inter-Korean summit and the creation of the Kaesong Industrial Complex. Kim Young-sam was president before him, Roh Moo-hyun continued the sunshine policy, and Kim Yong-dan is not a known South Korean president.

Correct option is (1).

Wegelin & Co became the first foreign bank to plead guilty in a United States court for tax evasion cases. This centuries-old Swiss bank closed down in 2013 after admitting to helping wealthy Americans evade taxes through secret accounts. Credit Suisse is a major Swiss bank but not the first to plead guilty, Swiss National Bank is Switzerland's central bank, and Hypo Private Bank is a different Swiss institution.

Kaspersky Lab is a Russian multinational cybersecurity company founded in 1997 by Eugene Kaspersky. The company is headquartered in Moscow, Russia, and is known globally for its antivirus and internet security software. The name itself hints at its Russian origin.

The National Social Assistance Scheme (NSAP) is a centrally sponsored scheme administered by the Ministry of Rural Development. Launched in August 1995, it provides social assistance to vulnerable groups including elderly people (above 60 years), widows, and disabled persons living below the poverty line. The scheme aligns with the ministry's focus on rural welfare.

The Marginal Standing Facility was introduced by the Reserve Bank of India in 2011-12 as part of the monetary policy framework. MSF allows scheduled commercial banks to borrow funds from the RBI at a penal rate (usually 1% above the repo rate) against their excess statutory liquidity ratio (SLR) holdings. This provides banks with an additional borrowing window beyond the Liquidity Adjustment Facility (LAF).

Correct option is (3).

AMFI is not a financial regulator. AMFI was set up in 1997 and market regulator SEBI had asked the organisation to function as an SRO to perform frontline regulation. The Association of Mutual Funds of India has dropped the idea of acting as the industry’s self-regulatory organisation, although such a system is the hallmark of mature markets around the world. 

Statement 2 is incorrect. National Policy of Education is emphasised on universal retention of children up to 14 years of age.

A democratic government does not try to secure equality of work. Democracy is a form of government in which all eligible citizens have an equal say in the decisions that affect their lives. Democracy allows people to participate equally either directly or through elected representatives in the proposal, development and creation of laws.

Correct option is (3).

The Forward Markets Commission (FMC), which regulated India's commodity futures markets, was under the administrative control of the Ministry of Consumer Affairs, Food and Public Distribution. In 2013-2014, the Government of India transferred FMC's control to the Ministry of Finance. Later, in 2015, FMC was merged with SEBI to create a unified regulatory framework for both securities and commodity markets.

Part XI of the Constitution of India (Articles 245-263) deals with 'Relations between the Union and the States'. This part includes the distribution of legislative powers through the Union List, State List, and Concurrent List (List III with 47 items). It covers crucial aspects like legislative relations, administrative relations, and the framework for center-state cooperation in governance.

Brazil led the world in sugarcane production in 2011 with a 734 000 TMT harvest. India was the second largest producer with 342 382 TMT, and China the third largest producer with 115 125 TMT harvest. 

The World Health Organization's South-East Asian Regional Office (SEARO) is headquartered in New Delhi, India. WHO has six regional offices globally, and SEARO is one of the largest, covering 11 countries including India, Bangladesh, Indonesia, and Thailand. New Delhi has hosted SEARO since its establishment, making India a hub for regional health cooperation.

Correct option is (3).

India is the world's second-largest producer of rice after China. India contributes approximately 25-27% of global rice production and is also the leading exporter of rice globally. Major rice-producing states in India include West Bengal, Punjab, Uttar Pradesh, Andhra Pradesh, and Tamil Nadu. The country's diverse agro-climatic zones support both kharif and rabi rice cultivation.

Under the Workmen's Compensation Act, statement (a) is incorrect because death benefits are not paid as pension till retirement age but as a lump sum or monthly payment based on a specified formula. Statement (b) is correct - for total permanent disablement, compensation is 50% of monthly wages multiplied by a relevant factor or Rs. 24,000, whichever is higher. Statement (c) is also correct - partial disablement compensation is calculated as a percentage of total permanent disablement compensation based on reduced earning capacity assessed by a medical practitioner.

The Man Booker Prize, one of the world's most prestigious literary awards, was instituted in 1969. It was originally known as the Booker-McConnell Prize and later simply as the Booker Prize before becoming the Man Booker Prize when Man Group sponsorship began in 2002. The prize recognizes the best original novel written in English and published in the UK by authors from Commonwealth countries, Ireland, or Zimbabwe.

Repo rate (repurchase rate) is the rate at which the central bank (RBI in India) lends money to commercial banks against government securities. It is a key monetary policy tool used to control inflation and liquidity. When banks need funds for short-term requirements, they borrow from the central bank at this rate by selling securities with an agreement to repurchase them at a predetermined price and date.

Correct Answer: All of these

Arundhati Bhattacharya made history as the first woman Chairperson of the State Bank of India, serving from 2013 to 2017. She broke the glass ceiling in Indian banking and was also the first woman to lead a major Indian public sector bank. Her tenure saw significant reforms including the launch of YONO (You Only Need One) digital banking platform. The other women listed - Naina Lal Kidwai (HSBC India), Shikha Sharma (Axis Bank), and Renuka Ramnath - were prominent bankers but not SBI Chairpersons.