BANKING ECONOMY BUDGET & CAPITAL MARKET

Securities shall be classified under ___ which is acquired with the intention and objective of holding it to maturity, i.e., the financial assets are held with an objective to collect the contractual cash flows; and the contractual terms of the security give rise to cash flows that are solely payments of principal and interest on specified dates

• Held to Maturity (HTM)
• Available for Sale (AFS)
• Fair Value through Profit and Loss (FVTPL)
• None

With the implementation of EDPMS, issuance of Foreign Inward Remittance Certificate (FIRC) (issued on serially numbered Security paper-Form BCI) for remittances against exports were discontinued as the same is now reported in Inward Remittance Menu (IRM), that has provision for system generated e-FIRC. FEDAI with consent of RBI has issued fresh guidelines. Which of the following is correct wrt to guidelines? (select all that apply)

• For export realisations received through their own Nostro accounts, other Vostro accounts, Special Rupee Vostro (SRV) accounts or any other permitted mode, including payment gateways, where beneficiary account is with a bank other than the bank receiving the remittance, the origination bank shall provide all necessary details of remittances in the NEFT/RTGS message or otherwise, for beneficiary‘s bank to process the transaction
• Banks receiving export proceeds for their constituents, irrespective of whether received through their own Nostro accounts, other Vostro accounts, SRV accounts or any other permitted mode, including payment gateways shall at client‘s request, issue remittance advice on their letter head (named as ‘Bank Inward Remittance Certificate (BIRC)‘ incorporating necessary details
• The advice, BIRC, can be issued either electronically or physically, using the same format as of FIRC (Form BCI).
• None

The Union Cabinet approved an increase of Minimum Support Price (MSP) for Kharif crops for marketing season 2023-24 by Rs. ____ in paddy MSP to Rs. 2,183 per quintal for 2023-24

• 140
• 141
• 142
• 143

Central government has issued a notification to ban export of __________ with effect from 20th July 2023. The ban has been carried out in order to ensure adequate availability in the Indian market and to allay the rise in prices in the domestic market

• Non-basmati white rice
• Non-basmati rice
• Non-basmati brown rice
• Non-basmati super rice

With a view to facilitate better asset-liability management (ALM), IDF-NBFCs can raise funds through shorter tenor bonds and commercial papers (CPs) from the domestic market to the extent of up to ____ per cent of their total outstanding borrowings

• 10
• 15
• 20
• 25

The Centre has empowered itself to recover assets, properties, royalties and cancel leases of certain companies engaged in the _____ sector even when they are undergoing the Insolvency and Bankruptcy Code (IBC) process.

• Coal
• Electricity
• Petroleum
• Oil

GST assesses, with a turnover of Rs. _____ crore or more but less than Rs. _____ crore will now be able to familiarize themselves with the invoice reporting mechanism and ensure a seamless transition to the e-Invoice system. This is critical as these assesses mandatorily require issuing e-invoices from August 01, 2023

• 5,10
• 8,15
• 10,20
• 15,25

The increased TCS rates under LRS for Overseas Travel, which were initially set to come into effect from 1st July 2023, will now be implemented from 1st October 2023. The revised TCS rate is 5% TCS for the first Rs 7 lakh and ____ TCS for amounts exceeding Rs 7 lakh

• 0.1
• 0.15
• 0.25
• 0.2

The Govt. has discontinued the sale of _____ and _____ from the central pool under the Open Market Sale Scheme (OMSS) to state governments offering free grains to the poor. However, the sale of rice under the OMSS will be continued for north eastern states, hilly states and states facing law and order situations, natural calamities at an existing rate of Rs 3,400 per quintal

• Rice; Wheat
• Rice; Maize
• Maize; Wheat
• Rice; Millets

The Central Board of Direct Taxes has notified to increase the leave salary encashment limit of non-government employees to Rs. ______ lakh which will be applicable from April 1, 2023

• 5
• 10
• 15
• 25