556: With reference to the management of minor minerals in India, consider the following statements:
1. Sand is a minor mineral according to the prevailing law in the country.
2. State Governments have the power to grant mining leases of minor minerals, but the powers regarding the formation of rules related to the grant of minor minerals lie with the Central Government.
3. Stale Governments have the power to frame rules to prevent illegal mining of minor minerals.
Which of the statements given above is/are correct?
(a) 1 and 3 only
(b) 2 and 3 only
(c) 3 only
(d) 1, 2 and 3
Explanation:
Sand is a minor mineral, as defined under section 3(e) of the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR Act). Hence statement 1 is correct. Section 15 of the MMDR Act empowers state governments to make rules for regulating the grant of mineral concessions in respect of minor minerals and for purposes connected therewith. The regulation of grant of mineral concessions for minor minerals is, therefore, within the legislative and administrative domain of the state governments. Under the power granted to them by section 15 of the MMDR Act, State Governments have framed their own minor minerals concession rules. Hence statement 2 in incorrect. section 23C of theMMDR Act, 1957 empowers state governments to frame rules to prevent illegal mining, transportation and storage of mineralsand for purposes connected therewith. Control of illegal mining is, therefore, under the legislative and administrative jurisdiction of state governments. Hence statement 3 is correct.
Source: http://pib.nic.in/newsite/PrintRelease.aspx?relid=155423
557: The Narasimhan Committee for Financial sector Reforms has suggested reduction in
(a) SLR and CRR
(b) SLR ,CRR and priority Sector Financing
(c) SLR and Financing to capital goods sector
(d) CRR Priotity Sector Financing and financing to capital goods sector
Explanation:
The Narasimhan Committee constituted in 1991 for financial sector reforms has suggested for reduction in Statutory Liquidity Ratio (SLR) (upto 25%), Cash Reserve Ratio and Priority Sector Financing.
558: Consider the following statements:
1. Most of Indias external debt is owed by governmental entities.
2. All of Indias external debt is denominated in US dollars.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Explanation:
US dollar denominated debt is the largest component of India's External Debt, followed by Indian rupee,SDR,Yen and Euro. Hence statement 2 is not correct. Commercial Borrowings continue to be the largest componenet of India's external Debt followed by NRI deposit and short term credit. Hence statement 1 is not correct.
Source: https://www.business-standard.com/article/news-cm/india-s-external-debt-eases-to-us-521-2-billion-end-december-2018-119040100925_1.html
559: Among the following major stock exchanges of India, the exchange which recorded highest turnover during the year 2001-01 is
(a) Bombay Stock Exchange
(b) Calcutta Stock Exchange
(c) Delhi Stock Exchange
(d) National Stock Exchange
Explanation:
Bombay Stock Exchange (BSE) was established in 1875, the exchange is also the oldest in Asia. The market capitalization of BSE is Rs. 5 trillion. The BSE 'SENSEX' is a widely used market index for the BSE.
560: Which of the following is not included in the assets of a commercial bank in India?
(a) Advances
(b) Deposits
(c) Investments
(d) Money at call and short notice
Explanation:
The deposit itself is a liability owed by the bank to the depositor. Bank deposits refer to this liability rather than to the actual funds that have been deposit. Hence option B is the correct answer.
Source: https://www.investopedia.com/terms/b/bank-deposits.asp