IBPS Recruitment Current Affairs

We are Providing topicwise Sample Questions for your reference. This will help you to understand the exam pattern.We are giving some current affairs related informations.

UIDAI Chairman Nandan Nilekani submitted the report of the committee headed by him regarding direct transfer of subsidy to the beneficiaries, to the Finance Minister Pranab Mukherjee. The interim report of the task force on direct transfer of subsidies on Kerosene, LPG and Fertilisers suggested creation of a Core Subsidy Management System (CSMS) for maintaining information on entitlements and subsidies for all
beneficiaries. The CSMS, as indicated in the report, will provide increased transparency in the movement of goods, level of stocks, prediction and aggregation of demand and identification of beneficiaries.

Nilekani Panel on Cash Transfer Scheme
Highlights of Recommendations Nade in Interim
Report Submitted by the Panel
LPG
Phase I: Cap consumption of subsidised cylinders
(Policy decision of government and not a specific task
force recommendation).
Phase II: Consumers buy LPG at market price, with
direct transfer of subsidy to their bank account.
Phase III: Identify and target segmented customers
for subsidy.

Fertiliser
Phase I: Information visibility up to the retailer level.
Phase II: Direct transfer of subsidy to the retailer.
Phase III: Farmers buy fertilisers at market price, with
direct transfer of subsidy to their bank account.
Kerosene
Phase I: Cash transfer through state governments.
Phase II: Cash transfer to accounts of beneficiaries.

Report recommends creation of centralised software for the product and service transfer. The poors have been recommended to get the share of subsidies directly through bank branches, Automated Teller Machines (ATMs), business correspondents, the internet or mobile banking channels.
Pilot projects for such direct cash transfers have been recommended to begin in seven places— Tamil Nadu, Assam, Maharashtra, Haryana, Delhi Rajasthan and Orissa—from October 2011.

COUNTRY’S EXPORTS REGISTER
45.7% GROWTH IN Q 1 OF 2011-12

Country’s exports in June 2011 rose for the third month in a row by growing 46.4 per cent to $ 29.2 billion, driven by high-end products such as engineering goods. Imports increased 42.4 per cent to $ 36.2 billion. About one-third of this import bill was accounted for by petroleum, oil and lubricant. This resulted trade deficit at $ 7×7 billion. During the first quarter of 2011-12 (i.e. April- June 2011), exports rose 45×7% to $ 79 billion. With imports growing 36×2% to $ 110.6 billion, the trade deficit stood at $ 7×7 billion.
Export sector’s good performance was well supported by various industries like engineering, oil, electronics, drugs, chemicals and readymade garments. The main components in the import bill.

On the other hand were oil, gold and silver, machinery, electronics and pearls/ precious stones. Oil import bill has been a major head in country’s total import bill. During the first quarter of 2011-12, oil imports rose 18 per cent to $ 30.5 billion and it is projected to be around $ 120-130 billion during the entire financial year 2011-12. Machinery imports valued at $ 9 billion showing 49 per cent growth. With 71 per cent growth electronics imports went to $ 7.6 billion. It may be recalled that during last year 2010-11, merchandise exports had grown 37.55% to $ 246 billion compared with 2009-10 while imports were up 21.6 per cent at $ 350 billion, resulting trade deficit at $ 104 billion.

The government has set a target of $ 500 billion worth of exports by 2014 and doubling of India’s share of global exports by 2020.

RBI ASKS GOVERNMENT TO IMPROVE EXPENDITURE QUALITY

RBI in its quarterly review of Monetary and Credit Policy 2011-12 pointed out the risk of high fiscal deficit pushing up inflation and consequently it suggested central government to improve the quality of expenditure to contain demand in the economy.

FOOD ACCOUNTS LARGEST SHARE IN CONSUMER’S SPENDING : NSSO

NSSO’s 66th round of survey household consumer expenditure reveals that Indians are still spending a major chunk of their expenditure on food items. The survey, covering the period from July 2009 to June
2010 shows an average rural household to have allocated 53.6 per cent of its monthly consumption expenditure. on food items. The corresponding share for urban household was less, at 40×7 per cent. According to the latest figures on consumption expenditure, per capita consumption expenditure in a month was 88 percent more in case of urban India compared to rural India during 2009-10, a trend which was more or less five years ago.

Share of Food in Total Consumption Expenditure
(in%)
Year Rural Urban
1987-1988 64.0 56.4
1993-1994 63.2 54.7
1999-2000 59.4 48.1
2004-2005 55.0 42.5
2009-2010 53.6 40.6

Per capita expenditure on consumption for the bottom 10 per cent of the people in rural areas was five times less than the top 10 per cent of the people while in case of urban parts, it was 10 per cent less. Survey results show that cereals still make up the largest chunk of an average Indian household’s consumption budget—15.6 per cent in rural and 9.1 percent in urban areas.

This is followed by fuel and light (9.5 per cent in rural and 8 per cent in urban), milk and milk products (8.6 per cent and 7.8 per cent), vegetables (6.2 percent mand 4.3 per cent) and clothing (4.9 per cent and 4.7 percent). The survey has estimated the all-India average monthly per capita expenditure at ` 1,053.64 in rural
and ` 1,984.46. The States among the top in spending are Kerala (` 1,835.22 in rural and ` 2,412.58 in urban areas), Punjab ( 1,648.92 and ` 2,108.79), Haryana (` 1,509.91 and ` 2,321.49) and Maharashtra
(` 1,152.79 and ` 2,436.75). The States at the bottom of the consumption chart are Bihar (` 780.15 and ` 1,23754), hhattisgarh (` 783.57 and ` 1,647.32), Orissa (` 818.47 and ` 1,548.36) and Jharkhand (` 825.15 and ` 1,583.75).

INSTITUTIONAL CREDIT DISBURSEMENT TO AGRICULTURE
SECTOR SHOWS BIG RISE IN 2010-11


Institutional credit disbursement to agriculture sector during 2010-11 registered a big rise. As against the
target of ` 3,75,000 crore for agriculture credit in 2010-11, the banking system disbursed `4,26,531 crore to the agriculture sector, thereby exceeding the target by around 13.7 per cent. As per the data released by the Ministry of Agriculture, out of the total disbursed credit of ` 4,26,531 crore, Commercial Banks, Cooperative Banks and Regional Rural Banks contributed ` 3,14,182 crore, ` 69,076 crore and ` 43,273 crore respectively. Thus during 2010-11, the share of Commercial Banks, Cooperative Banks and Regional Rural Banks in total disbursed credit stood at 73.7 per cent, 16.2 per cent and 10.1 per cent respectively.

During 2009-10, as against the target of ` 3,25,000 crore for agriculture credit, the banking system disbursed 3,84,514 crore to the agriculture sector, thereby exceeding the target by about 18 per cent. For the financial year 2011-12, the target of disbursing agriculture credit to farmers in ` 4,75,000 crore. It is worthnoting that government is providing concessional crop loans to farmers from the year 2006-07. The farmers who repay loans well in time get concession on their crop loans. In 2009—10, this concession was 1% which was raised to 2% in 2010- 11. For 2011-12, it now stands at 3%


1. Which one of the following Public Sector Organisations
has offered largest ever equity offer ?
1. SAIL
2. Coal India
3. Power Grid
4. Shipping Corporation of India
5. None of these

2. Through which one of the following sources domestic
funds are raised by Companies ?
(a) IPO only
(b) FPO only
(c) Commercial papers
1. Only (a) and (b) 2. All (a), (b) and (c)
3. Only (a),and (c) 4. Only (a)
5. Only (c)

3. Which one of the following was the reason owing to
which Govt. want Reserve Bank of India to tighten
prudential norms for NBFCs?
1. To reduce liquidity in the market
2. It is as per Basel II requirements
3. It is as per Bank for International Settlement (BIS)
directives
4. It is to protect NBFCs from any impact of possible
economic slowdown
5. None of these

4. In the financial year 2009-10, which one of the following
Banks has made highest Total dividend Payout?
1. SBI 2. PNB
3. Bank of India 4. Canara Bank
5. None of these

5. In respect of which one of the following countries, India
has proposed non payments for import of crude oil ?
1. Iran 2. Iraq
3. Kuwait 4. Sudan
5. U.A.E.
Answers
1.(2) 2.(3) 3.(4) 4.(5) 5. (1)


Share on Google Plus

About Madan R

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.