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Q:

Which  of  the  following  statements  is/are correct   regarding   the   Preamble   of   the Indian Constitution?

1.The    Preamble    by    itself    is    not enforceable in a Court of Law.

2.The   preamble   states   the   objectives which    the    Constitution    seeks    to establish and promote.

3.The Preamble indicates the source from which   the   Constitution   derives   its authority.

Select  the  correct  answer  using  the  code given below.

A) 1, 2 and 3 B) 1 and 2 only
C) 1 and 3 only D) 2 only
 
Answer & Explanation Answer: A) 1, 2 and 3

Explanation:

All  are  correct.  Preamble  is  non-justiciable    in    nature    i.e.    its provisions  are  not  enforceable  in court of  law.  Preamble  is  neither  a source of power to legislature nor a prohibition   upon the   powers   of legislature.

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Filed Under: Indian Politics
Exam Prep: Bank Exams

Q:

Which   one   of   the   following   statements about the justice Party is not correct?

A) It  clamoured  for  the  same  kind  of separate  communal  representation  for the Non-Brahmins as had been granted to  the  Muslims  by  the  Morley-Minto Reforms. B) It   was   patronized   mainly   by   richer landowning   and   urban   middle   class Non-Brahmins.
C) It  succeeded  in  getting  the  provision for  28  reserved  seats  for  the  Non-Brahmins  in  the  Montagu-Chelmsford Reforms. D) It   supported  the   call   given   by   the Congress toboycott elections in 1920.
 
Answer & Explanation Answer: D) It   supported  the   call   given   by   the Congress toboycott elections in 1920.

Explanation:

The Justice  Party  was  a  political party in the Madras Presidency of British  India.  It  was founded    byT.    M.    Nairand P. Theagaraya     Chetty     in     1916. Communal division between Brahminsand non-Brahmins  began  in  the  presidency during   the   late-19th   and   early-20th century, mainly due to caste prejudices and disproportionate Brahminical representation in government jobs. The    Justice    Party's    foundation marked  the  culmination  of  several efforts to establish  an organisation to  represent  the  non-Brahmins  in Madras.  Founders  of  Justice  Party though  that  Congress  was  mainly Brahmin    party,    so    it    started opposing Congress

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Filed Under: General Awareness
Exam Prep: Bank Exams

Q:

Which   one   of   the   following   statements about   the   All India   Depressed   Classes Association is not correct?

A) The    All    India    Depressed    Classes Association was formed in Nagpur with M.   C.   Rajah   as   its   first   elected President. B) The    All    India    Depressed    Classes Association was not attended by Dr. B. R. Ambedkar in 1926
C) Ambedkar  resigned  from  the  All  India Depressed   Classes   Association   and formed  his  own  All  India  Depressed Classes Congress in 1930. D) The    All    India    Depressed    Classes association   favoured   Ambedkar’s demand for separate electorate for the depressed classes.
 
Answer & Explanation Answer: C) Ambedkar  resigned  from  the  All  India Depressed   Classes   Association   and formed  his  own  All  India  Depressed Classes Congress in 1930.

Explanation:
Dr. B. R. Ambedkar never resigned from All India Depressed class association.
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Filed Under: Indian History
Exam Prep: Bank Exams

Q:

Statement I :The    Poona    Pact    provided    for    151 reserved  seats  for  the  scheduled  castes  to be   elected   by   a   joint,   not   separate, electorate.

Statement II :Dr.  B.  R.  Ambedkar  withdrew  from  active politics   for   almost   a   decade   when   the Communal Award was revoked.

A) Both the statements are individually true and Statement II is the correct explanation of Statement I B) Both the statements are individually true but Statement II is not the correct explanation of Statement I
C) Statement I is true but Statement II is false D) Statement I is false but Statement II is true
 
Answer & Explanation Answer: C) Statement I is true but Statement II is false

Explanation:

The  Poona  Pact  was  an  agreement between  Dr.  Babasaheb  Ambedkar and  Mahatma  Gandhi  which  was signed  on  24  September  1932  at Yerwada Central Jail in Pune, India, which asserted that there will be a single    Hindu    electorate,    with scheduled    castes    having    seats reserved     within     it,So     the representation of these classes was based  on  the  standards  of  joint electorates   and   reserved   seats. The  Communal  Award  was  made by    the    British    Prime    Minister Ramsay  MacDonald  on  16  August 1932    which    allowed    separate electorates  in  India,  and  it  was supported by Ambedkar.

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Filed Under: General Awareness
Exam Prep: Bank Exams

Q:

Which  one  of  the  following  sectors  is  not affected   by   the   changes   made   in   the Foreign  Direct  Investment  Policy  in June 2016?

A) Multi-brand retailing B) Defence
C) Private security agencies D) Manufacturing   of   small   arms   and ammunitions  covered  under  the  Arms Act, 1959
 
Answer & Explanation Answer: D) Manufacturing   of   small   arms   and ammunitions  covered  under  the  Arms Act, 1959

Explanation:

Changes  made  in  FDI  policy  in June     2016     will     not     affect manufacturing  of  small  arms  and ammunition.

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Filed Under: Indian Politics
Exam Prep: Bank Exams

Q:

Amartya Sen was awarded the Nobel Prize for his contribution to 

A) Monetary Economics B) Welfare Economics
C) Environmental Economics D) Development Economics
 
Answer & Explanation Answer: B) Welfare Economics

Explanation:

Amartya   Sen,   Indian   economist who  was  awarded  the  1998  Nobel Prize  in  Economic  Sciences  for  his contributions  to  welfare  economics and social choice theory and for his interest    in    the    problems    of society's poorest members

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Filed Under: Indian Economy
Exam Prep: Bank Exams

Q:

Goods  and  Services  Tax  likely  to  be  levied in India is not a

A) gross value tax B) value-added tax
C) consumption tax D) destination-based tax
 
Answer & Explanation Answer: A) gross value tax

Explanation:

GST  is  a  destination-based  tax,  it means   end   users   consuming   any goods or services is liable to pay the Goods  and  Services  Tax.  The  tax  is collected  by  the  State  in  which  the goods or services are consumed and not  by  the  state  in  which  goods  are manufactured    and    If    there    are exports,  the  seller  of  the  goods  or services  is  exempted  from  paying the tax. GST is a consumption-based tax,  it  means  the  state  where  the goods  were  consumed  will  receive GST   and   where   goods   were   sold should  not  get  any  taxes.GST  is  a value added tax as it is based on the increase  in  value  of  a  product  or service  at  each  stage  of  production or   distribution.GST   is   not   gross value tax.

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Filed Under: Indian Economy
Exam Prep: Bank Exams

Q:

Which  one  of  the  following  indices  is  now used  by  the  Reserve  Bank  of  India  to measure the rate of inflation in India?

A) NASDAQ Index B) BSE Index
C) Consumer Price Index D) Wholesale Price Index
 
Answer & Explanation Answer: C) Consumer Price Index

Explanation:

The  Wholesale  Price  Index  (WPI) was  main  index  for  measurement of  inflation  in  India  till  April  2014 when  RBI  adopted  new  Consumer Price   Index   (CPI)   as   the   key measure of inflation.

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Filed Under: Indian Economy
Exam Prep: Bank Exams