Previous Year UPSC Prelims Questions Detailed Analysis 2017
BY AYUSSH SANGHI
PART - 1
UPSC 2017 Consider the following statements: 1. National Payments Corporation of India (NPCI) helps in promoting the financial inclusion in the country 2. NPCI has launched RuPay, a card payment scheme 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
UPSC 2017 Ans. C National Payments Corporation of India (NPC), an umbrella organisation for operating retail payments and settlement systems in India. It provides infrastructure to the entire Banking system in India for physical as well as electronic payment and settlement systems. with products like BHIM App, Rupay Card, Immediate Payment System, it is helping in spreading financial services to all NPCI launched Rupay card in 2012.
UPSC 2017 which of the following statements is/are correct regarding the Monetary Policy Committee (MPC)? 1. It decides the RBI's benchmark interest rates. year. 2. It is a 12-member body including the Governor of RBI and is reconstituted every It functions under the chairmanship of the Union Finance Minister Select the correct answer using the code given below: (D) 1 and 2 only (b) 1 and 2 only (c) 3 only (d) 2 and 3 only
UPSC 2017 Ans. A OMPC has 6 members, and it's headed by RBI governor WHAT WILL IT DO? Fix The Benchmark Interest Rate Of The RBI Set Inflation Targets COMPOSITION PROPOSED BANK MONETARY POLICY COMMITTEE wenes 3 Government 3 RBilInc. Governor)
UPSC 2017 OWhich of the following statements best describes the term 'Scheme for Sustainable Structuring of Stressed Assets (S4A)', recently seen in the news? ) It is a procedure for considering ecological costs of developmental schemes formulated by the Government (b) It is a scheme of RBI for reworking the financial structure of big corporate entities facing genuine difficulties. (c) It is a disinvestment plan of the Government regarding Central Public Sector Undertakings. (d) It is an important provision in The Insolvency and Bankruptcy Code' recently implemented by the Government.
UPSC 2017 Ans. B The S4A envisages determination of the sustainable debt level for a stressed borrower, and bifurcation of the outstanding debt into sustainable debt. Resolution of large loans which are facing severe financial difficulties may require co-ordinated deep financial restructuring which often involves a substantial write-down of debt and/or making large provisions. Often such high write-downs act as a disincentive to lenders to effect a sustainable change in the liability structure of borrows facing stress.
UPSC 2017 Who among the following can join the National Pension System (NPS)? (a) Resident Indian citizens only (b) Persons of age from 21 to 55 only (c) All State Government employees joining the services after the date of notification by the respective State Governments (d) All Central Government employees including those of Armed Forces joining the services on or after 1st April, 2004
UPSC 2017 what is the purpose of setting up of Small Finance Banks (SFBs) in India? 1. To supply credit to small business units 2. To supply credit to small and marginal farmers 3. To encourage young entrepreneurs to set up business particularly in rural areas Select the correct answer using the code given below: (a) 1 and 2 only (b) 2 and 3 only (c) 1 and 3 only (d) 1, 2 and 3
UPSC 2017 what is/are the most likely advantages of implementing Goods and Services Tax (GST)'? 1. It will replace multiple taxes collected by multiple authorities and will thus create a single market in India. 2. It will drastically reduce the Current Account Deficit' of India and wll enable it to increase its foreign exchange reserves. 3. It will enormously increase the growth and size of economy of India and will enable it to overtake China in the near future. Select the correct answer using the code given below: a) 1 onl c) 1 and 3 only (o 2 and 3 only d) 1, 2 and 3
UPSC 2017 With reference to the 'Prohibition of Benami Property Transactions Act, 1988 (PBPT Act)', consider the following statements: 1. A property transaction is not treated as a benami transaction if the owner of the property is not aware of the transaction. 2. Properties held benami are liable for confiscation by the Government. 3. The Act provides for three authorities for investigations but does not provide for any appellate mechanism. Which of the statements .given above is/are correct? (a) 1 only b) 2 on c) 1 and 3 only (d) 2 and 3 only
UPSC 2017 OA property bought by an individual not under his or her name is benami property. It can include property held in the name of spouse or child for which the amount is paid out of known sources of income. Properties held benami are liable for confiscation by the Government without payment of compensation. (2nd statement is correct) An appellate mechanism has been provided under the PBPT Act in the form of Adjudicating Authority and Appellate Tribunal. (3rd is incorrect) OReference: http://pib.nic.in/newsite/PrintRelease.aspx?relid-153085
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