General Awareness · Banking Financial Awareness

Regulatory Thresholds and Caps in India

860 Questions

Regulatory Thresholds and Caps in India refer to the statutory limits imposed on finance, taxation, and corporate governance. It covers sectoral caps, expenditure limits, and penalty thresholds defined by law. These questions are crucial for banking, accounting, and civil services exams.

Financial limitsTax deductionsCorporate regulationsElectoral thresholdsPenalties and fines

Regulatory Thresholds and Caps in India Questions

Multiple choice

Between 08 and 09 end bank branches would grow by

What are the expansion plans of the bank?

We should be close to 250 branches by end 2008, and up to 275 branches by the end FY-09. Our broad break up of branches is 40:35:20:5 for west, north, south and east respectively

  1. 5%

  2. 10%

  3. 15%

  4. 20%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The bank plans to have 250 branches by the end of 2008 and 275 by the end of FY-09. The growth is 25 branches (275 - 250), which is a 10% increase over the 250 base (25 / 250 = 0.10).

Multiple choice

The maximum concentration of branches is in the

What are the expansion plans of the bank?

We should be close to 250 branches by end 2008, and up to 275 branches by the end FY-09. Our broad break up of branches is 40:35:20:5 for west, north, south and east respectively

  1. east

  2. west

  3. north

  4. south
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The branch distribution is 40:35:20:5 for west, north, south, and east. The highest value is 40, which corresponds to the west.

Multiple choice

In this year 2009, Railway Ministry has proposed to increase the contribution to Staff Benefit Fund to ............... per employee by one year with the proviso that out of this contribution, the sum of Rs 100 per employee will be exclusively for activities relating to women empowerment and training for developing vocational and occupational skills of physically and mentally challenged wards of railway employees especially girl child and higher education for girls.

  1. Rs 350/-

  2. Rs 1350/-

  3. Rs 2350/-

  4. Rs 450/-
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Rs 350/-

Multiple choice

Which direct tax proposal is correct as per the Unoin Budget 2011-2012?

  1. Exemption limit for the general category of individual taxpayers enhanced from Rs. 1,60,000 to Rs. 1,90,000.

  2. Exemption limit enhanced and qualifying age reduced from 65 year to 62 year for senior citizens.

  3. Current surcharge of 7.5 per cent on domestic companies proposed to be reduced to 6 per cent.

  4. Rate of Minimum Alternative Tax proposed to be increased from 18 per cent to 18.5 per cent of book profits.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Rate of Minimum Alternative Tax proposed to be increased from 18 per cent to 18.5 per cent of book profits.

Multiple choice

Which statement(s) is/are correct as per the Union Budget 2011-2012?

i. Rs. 10,000 crore provided in current year for developmental needs of Jammu and Kashmir. ii. To build judicial infrastructure, plan provision for Department of Justice increased by three fold to Rs. 1,500 crore. iii. Higher exemption limit for very senior citizens, who are 80 years or above. iv. Standard rate of service tax retained at 10 per cent.

  1. i, iii

  2. ii, iv

  3. iii, iv

  4. i, iii, iv
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Higher exemption limit for very senior citizens, who are 80 years or above.

Multiple choice

Which statement(s) is/are incorrect as per the Union Budget 2011-2012?

i. Old age pension to persons of over the age of 80 raised from Rs. 200 to Rs. 400. ii. Service tax on air travel increased by Rs. 150 for domestic travel in economy class. iii. Service tax on air travel increased by Rs. 250 for international travel in economy class. iv. Allocation under Rashtriya Krishi Vikas Yojana to be raised by 14%.

  1. i, iii, iv

  2. ii, iv

  3. i, ii, iii

  4. i, ii
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Allocation under Rashtriya Krishi Vikas Yojana to be raised from Rs. 6755 crore in the current year to Rs. 7860 crore.

Multiple choice

The Union government plans to amend the Universal Service Obligation (USO) Fund rules to make it easier for telecom companies to access over Rs. 16,000-crore corpus lying with the government to push rural telephony. Which of the following statements about the USO Fund are correct? I.          The Universal Service Levy (USL) that finances the USO Fund is fixed at 2.5% of the Adjusted Gross Revenue (AGR) of Telecom Service Providers II.         The rural telephony services funded by the USO Fund include wireline, wireless as well as broadband services III.        The annual revenue share licence fee is reduced to the extent of reduction in contribution towards Universal Service Obligation Fund (USOF)

  1. I and II only

  2. II only

  3. III and I only

  4. III only
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

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Multiple choice

Which of the following is not a major highlight of the Union Budget 2008-09 ?

  1. A target of Rs. 2·80 lakhs crore is fixed for providing credit to agriculture sector.
  2. Limit of the Banking Cash Transaction Tax is raised from present 1% to 1·5%.
  3. PAN requirement is not mandatory for financial transactions. Other Ids are also acceptable.

  1. Only 1

  2. Only 2

  3. Only 3

  4. Both 2 and 3

  5. All 1, 2 and 3
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

In the 2008-09 budget, the agriculture credit target was indeed a major highlight. However, the Banking Cash Transaction Tax was actually abolished, not raised, and PAN requirements were generally tightened, not relaxed.