Q1. MUDRA gives loan in how many categories?
(a) Two
(b) One
(c) Three
(d) Four
(e) Six
Q2. Which among the following is not a loan category of MUDRA bank?
(a) Shishu
(b) Arun
(c) Kishor
(d) Tarun
(e) None of the above
Q3. SEZs Policy was announced in _________ with the objective of making the SEZs an engine for economic growth, supported by quality infrastructure and an attractive fiscal package both at the Central and State level with a single window clearance.
(a) December 1999
(b) October 2010
(c) January 2005
(d) July 1991
(e) April 2000
Q4. The main objectives of the SEZ act are-
(a) Generation of additional economic activity
(b) Promotion of exports of goods and services
(c) Promotion of investment from domestic and foreign sources
(d) Creation of employment opportunities
(e) All of the above
Q5. With effect from 31 March 2005, a ______________ would be one, which has remained NPA for a period less than or equal to 12 months.
(a) Substandard Assets
(b) Profit Assets
(c) Doubtful Assets
(d) Loss Assets
(e) None of the above
Q6. With effect from March 31, 2005, an asset would be classified as _____________ if it has remained in the substandard category for a period of 12 months.
(a) Substandard Assets
(b) Profit Assets
(c) Doubtful Assets
(d) Loss Assets
(e) None of the above
Q7. What is the financial limit Under MUDRA's Shishu scheme?
(a) Rs. 5, 00,000
(b) Rs. 50,000
(c) Rs. 1, 00,000
(d) Rs. 10,000
(e) Rs. 1, 50,000
Q8. What is the financial limit Under MUDRA's Kishor scheme?
(a) Rs. 50,000 to Rs. 10 lakh
(b) Rs. 50,000 to Rs. 3 lakh
(c) Rs. 50,000 to Rs. 1 lakh
(d) Rs. 50,000 to Rs. 2 lakh
(e) Rs. 50,000 to Rs. 5 lakh
Q9. Which among the following Incentives and facilities offered to the SEZs is not correct-
(a) Duty free import/domestic procurement of goods for development, operation and maintenance of SEZ units.
(b) Exemption from State sales tax and other levies as extended by the respective State Governments.
(c) Exemption from minimum alternate tax under section 115JB of the Income Tax Act.
(d) 100% Income Tax exemption on export income for SEZ units under Section 10AA of the Income Tax Act for 10 years, 50% for next 5 years thereafter and 50% of the ploughed back export profit for next 5 years.
(e) Exemption from Central Sales Tax.
Q10. ___________ is a specifically delineated duty-free enclave and shall be deemed to be foreign territory for the purposes of trade operations and duties and tariffs.
(a) SEZs
(b) FDI
(c) FIPB
(d) CDR
(e) CSR
Q11. Which committee has recommended the setting up of Special Tribunals to reduce the time required for settling cases and accepting the recommendations, Debt Recovery Tribunals (DRTs) were established?
(a) Kelkar committee
(b) Justice Reddy committee
(c) Rangarajan Committee
(d) Sivaraman Committee
(e) Narasimham Committee
Q12. DRT has been constituted under Section 3 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. DRT stands for-
(a) Debt Recovery Tribunals
(b) Demand Recovery Tribunals
(c) Deposit Recovery Tribunals
(d) Debt Refinance Tribunals
(e) Debt Recovery Treaty
Q13. What is the financial limit Under MUDRA's Tarun scheme?
(a) Rs. 40 lakh to Rs. 50 lakh
(b) Rs. 30 lakh to Rs. 40 lakh
(c) Rs. 20 lakh to Rs. 30 lakh
(d) Rs. 10 lakh to Rs. 20 lakh
(e) Rs. 5 lakh to Rs. 10 lakh
Q14. Who can set up an SEZ?
(a) Private sector
(b) Public sector
(c) State government
(d) All of the above
(e) Only (a) and (b)
Q15. Securitisation act 2002 is enables the banks to issue notices to defaulters who have to pay the debts within __________ days.
(a) 90 days
(b) 60 days
(c) 30 days
(d) 120 days
(e) None of the above
Solutions
S1. Ans.(c)
Sol. MUDRA gives loan in three categories. The categories have been named ‘Shishu’, ‘Kishor’ and ‘Tarun’.
S2. Ans.(b)
Sol. Arun is not a loan category of MUDRA bank.
S3. Ans.(e)
Sol. India was one of the first in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set up in Kandla, Gujarat in 1965. With a view to overcome the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and an unstable fiscal regime and with a view to attract larger foreign investments in India, the Special Economic Zones (SEZs) Policy was announced in April 2000.
S4. Ans.(e)
Sol. The main objectives of the SEZ Act are-
(a) Generation of additional economic activity
(b) Promotion of exports of goods and services;
(c) Promotion of investment from domestic and foreign sources;
(d) Creation of employment opportunities;
(e) Development of infrastructure facilities
S5. Ans.(a)
Sol. With effect from 31 March 2005, a substandard asset would be one, which has remained NPA for a period less than or equal to 12 months. In such cases, the current net worth of the borrower/guarantor or the current market value of the security charged is not enough to ensure recovery of the dues to the banks in full.
S6. Ans.(c)
Sol. With effect from March 31, 2005, an asset would be classified as doubtful if it has remained in the substandard category for a period of 12 months. A loan classified as doubtful has all the weaknesses inherent in assets that were classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full,– on the basis of currently known facts, conditions and values – highly questionable and improbable.
S7. Ans.(b)
Sol. Under the aegis of Pradhan Mantri MUDRA Yojana (PMMY), MUDRA has already created its initial products/schemes. The interventions have been named ‘Shishu’, ‘Kishor’ and ‘Tarun’ to signify the stage of growth/development and funding needs of the beneficiary micro unit / entrepreneur and also to provide a reference point for the next phase of graduation / growth to look forward to. The financial limit for these schemes is:-
(a) Shishu:- covering loans up to 50,000/-
(b) Kishor:- covering loans above 50,000/- and up to 5 lakh
(c) Tarun:- covering loans above 5 lakh to 10 lakh
S8. Ans.(e)
Sol. Under the aegis of Pradhan Mantri MUDRA Yojana (PMMY), MUDRA has already created its initial products/schemes. The interventions have been named ‘Shishu’, ‘Kishor’ and ‘Tarun’ to signify the stage of growth/development and funding needs of the beneficiary micro unit / entrepreneur and also to provide a reference point for the next phase of graduation / growth to look forward to. The financial limit for these schemes is:-
(a) Shishu:- covering loans up to 50,000/-
(b) Kishor:- covering loans above 50,000/- and up to 5 lakh
(c) Tarun:- covering loans above 5 lakh to 10 lakh
S9. Ans.(d)
Sol. The incentives and facilities offered to the units in SEZs for attracting investments into the SEZs, including foreign investment include:-
(a) Duty free import/domestic procurement of goods for development, operation and maintenance of SEZ units
(b) 100% Income Tax exemption on export income for SEZ units under Section 10AA of the Income Tax Act for first 5 years, 50% for next 5 years thereafter and 50% of the ploughed back export profit for next 5 years.
(c) Exemption from minimum alternate tax under section 115JB of the Income Tax Act.
(d) External commercial borrowing by SEZ units up to US $ 500 million in a year without any maturity restriction through recognized banking channels.
(e) Exemption from Central Sales Tax.
(f) Exemption from Service Tax.
(g) Single window clearance for Central and State level approvals.
(h) Exemption from State sales tax and other levies as extended by the respective State Governments.
S10. Ans.(a)
Sol. Special Economic Zones (SEZs) is a specifically delineated duty-free enclave and shall be deemed to be foreign territory for the purposes of trade operations and duties and tariffs.
S11. Ans.(e)
Sol. Narasimham Committee Report I (1991) recommended the setting up of Special Tribunals to reduce the time required for settling cases. Accepting the recommendations, Debt Recovery Tribunals (DRTs) were established.
S12. Ans.(a)
Sol. DRTs stands for Debt Recovery Tribunals.
S13. Ans.(e)
Sol. Under the aegis of Pradhan Mantri MUDRA Yojana (PMMY), MUDRA has already created its initial products/schemes. The interventions have been named ‘Shishu’, ‘Kishor’ and ‘Tarun’ to signify the stage of growth/development and funding needs of the beneficiary micro unit / entrepreneur and also to provide a reference point for the next phase of graduation / growth to look forward to. The financial limit for these schemes is:-
(a) Shishu:- covering loans up to 50,000/-
(b) Kishor:- covering loans above 50,000/- and up to 5 lakh
(c) Tarun:- covering loans above 5 lakh to 10 lakh
S14. Ans.(d)
Sol. Private sector, Public sector and State government can set up Special Economic Zones (SEZs).
S15. Ans.(b)
Sol. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 is popularly known as Securitisation Act. This act enables the banks to issue notices to defaulters who have to pay the debts within 60 days. Once the notice is issued the borrower cannot sell or dispose the assets without the consent of the lender. The Securitisation Act further empowers the banks to take over the possession of the assets and management of the company. The lenders can recover the dues by selling the assets or changing the management of the firm. The Act also enables the establishment of Asset Reconstruction Companies for acquiring NPA.
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