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Q:

Which  of  the  following  statements  about Bitcoin is/are correct?

1.It is a decentralized virtual currency.

2.It    is    generated    through    complex computer software systems.

3.The  Reserve  Bank  of  India  recognized it as a legal tender in January 2016.

Select  the  correct  answer  using  the  code given below.

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

Explanation:

Bitcoin is the world's first cryptocurrency,    a    form    of electronic   cash.It   is   the    first decentralized digital  currency:  the system   was   designed   to   work without   acentral   bankor   single administrator.Bitcoins    are    sent from  user  to  user  on  the peer-to-peer bitcoin network directly, without the need for intermediaries.  These  transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a block chain. Bitcoin was invented by an unknown person or group of people   using   the   name Satoshi Nakamoto. Bitcoins are not recognised  as  a  legal  tender  by Reserve Bank of India. 

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Filed Under: Indian Economy
Exam Prep: Bank Exams

Q:

Which  of  the  following  statements  about the  Trans-Pacific  Partnership  (TPP)  is  /are correct?

1.The  TPP  was  signed  by  12  Pacific  Rim nations in the year 2015.

2.The TPP is likely to be a game-changer in  global  trade  as  member  countries account  for  about  40  percent  of  global GDP.

3.India is a founder member of TPP.

Select  the  correct  answer  using  the  code given below.

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

Explanation:

3  is  incorrect,  as  India  is  not  a member of TPP

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Filed Under: General Awareness
Exam Prep: Bank Exams

Q:

Which  of  the  following  are  the  powers  of the Supreme Court of India?

1.Original    jurisdiction    in    a    dispute between  the  Government  of  India  and one or more States.

2.The  power  to  hear  appeals  from  the High Courts

3.Passing  decrees  and  orders  for  doing justice in any matter before it

4.Render advice to the President of India in matters of law

Select  the  correct  answer  using  the  code given below.

A) 1, 2, 3 and 4 B) 1, 2 and 3 only
C) 1 and 2 only D) 3 and 4 only
 
Answer & Explanation Answer: A) 1, 2, 3 and 4

Explanation:
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Filed Under: Indian Politics
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Q:

Which     of     the     following     statements regarding   Indian   federal   system   is/are correct?

1.All States have equal representation in the Rajya Sabha.

2.Consent  of  a  State  is  not  required  for altering its boundaries.

3.There is no dual citizenship in India.

Select  the  correct  answer  using  the  code given below.

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

Explanation:

Besides  some  federal  features,the Constitution of India also has some unitary  features  as  well.  All  States have  no  equal  representation  in the  Rajya  Sabha,because  in  India the states are given representation in the Rajya Sabha on the basis of population.  Hence,  the  number  of representatives  varies  from  state to    state, for    instance,    Uttar Pradesh  has  31  members  whereas Tripura  has  only  1  member.This principle    is    considered    as    a safeguard    for    smaller    states.States  in  India  also  have  no  right to territorial integrity. The Parliament  can  change  the  area,boundaries  or  name  of  any  state by unilateral action, So the consent of   a   State   is   not   required   for altering  its  boundaries,Moreover,despite dual Polity,the Constitution  of  India  adopted  the system  of Single citizenship.There is  only  Indian  citizenship  and  no separate state citizenship.

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Filed Under: Indian Politics
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Q:

Which  of  the  following  statements  with regard to Panchyats in India are correct?

1.Seats ina Panchayat are filled by direct election from the territorial constituencies in the Panchayat area.

2.The Gram Sabha is the body of persons registered in the electoral rolls relating to   a   village   within   the   Panchayat area.

3.The  Panchayats  work  on  the  principle of constitutional autonomy.

4.The   State   Legislature may   be   law endow  the  Panchayats  with  the  power and   authority   to   enable   them   to function.

Select  the  correct  answer  using  the  code given below.

A) 1, 2 and 3 B) 2, 3 and 4
C) 1, 2 and 4 D) 1 and 4 only
 
Answer & Explanation Answer: C) 1, 2 and 4

Explanation:
All are correct except 3, as Panchayats don’t have constitutional autonomy to work.
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Filed Under: Indian Politics
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Q:

Arrange the following Commissions chronologically on the basis of their date of setting :

1.The   Second   Administrative   Reforms Commission

2.The Eleventh Finance Commission

3.Punchhi Commission

4.Sarkaria Commission

Select  the  correct  answer  using  the  code given below.

A) 4, 2, 1, 3 B) 4, 3, 2, 1
C) 3, 2,4, 1 D) 3, 4, 1, 2
 
Answer & Explanation Answer: A) 4, 2, 1, 3

Explanation:

Sarkaria commission-1983, Punchhi commission-2007, Eleventh     Financial     commission 2000-2005,  Second  Administrative Reform commission –2005

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Filed Under: Indian History
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Q:

To be eligible to contest election under the Haryana Panchayati Raj (Amendment) Act, 2015, a candidate should

1.have a functional toilet at home

2.have payment slips of power bills

3.not be a cooperative loan defaulter

4.have studied  minimum   matriculation irrespective of category.

Select the  correct  answer  using  the  code given below.

A) 1, 2 and 3 only B) 1, 2 and 4 only
C) 1, 2, 3 and 4 D) 3 and 4 only
 
Answer & Explanation Answer: B) 1, 2 and 4 only

Explanation:

Following   are   the   qualifications which    have    to    be    met    for contesting    elections    under    the Haryana Panchayat raj:

For general  candidate  men  must  have passed   class   X,   class   VIII   for women   and   Scheduled   cast/ST, class    V    for    schedule    cast/ST women  for  elections  contesting  in the  Zila  Parishad,  Panchay  Samiti and   Post   of   the   Sarpanch.The candidate must have the functional toilet    in    his/her    home.There should  not  be  any  insolvency  or failure  to  pay  the  arrears  in  any case    such    as,    like    to    any cooperative  society,  any  bank  or electricity  bill.  The  candidate  must be clean in character likewise there should not be any charge sheet filed which  may  lead  to  imprisonment  of upto  10  years  against  the  candidate in   any   court   in   India.In   case   of Rajasthan,  the  candidate  must  not be the Leprosy Patient.

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Filed Under: Indian Politics
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Q:

Which of the following statements with regard to the speech of Mahatma Gandhi at the opening of the Banaras Hindu University are correct?

1.he charged the Indian elite with a lack of concern for the laboring poor.

2.He asserted that our salvation can come only through the farmers.

3.He highlighted the plight of the untouchables.

4.He promised to take up the cause of the mill owners of Ahmedabad.

Select the correct answer using the code given below.

A) 1, 2, 3 and 4 B) 1 and 2 only
C) 1, 2 and 3 only D) 3 and 4 only
 
Answer & Explanation Answer: B) 1 and 2 only

Explanation:

Only   1   and   2   are   correct,   as Mahatma  Gandhi’s  speech  in  BHU on 4 February,1916 did not include plight  of  untouchables  and  there was no issue of the mill owners on Ahmedabad in 1916.

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Filed Under: Indian History
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