Correct Answer : Option (B) - To ensure social justice.

The Reserve Bank of India is the main monetary authority of the country and beside that the central bank acts as the bank of the national and state governments. It formulates, implements and monitors the monetary policy as well as it has to ensure an adequate flow of credit to productive sectors. Objectives are maintaining price stability and ensuring adequate flow of credit to productive sectors.

Correct Answer : Option (B) - Service Tax.

As per Article 268-A of the Constitution of India, Service tax is levied by Union and collected and appropriated by the Union and States. Service tax is a part of Central Excise in India. It is a tax levied on services provided in India, except the State of Jammu and Kashmir. As per article 269, the taxes levied and collected by the union but assigned to the States are: duties in respect of succession to property other than agricultural land; estate duty in respect of property other than agricultural land; terminal taxes on goods or passengers carried by railway, sea or air; taxes on railway fares and freights; taxes on the sale or purchase of newspapers and on advertisements published therein; taxes on the consignment of goods (whether the consignment is to the person making it or to any other person), where such consignment takes place in the course of inter State trade or commerce, etc.

Correct Answer : Option (D) - No impact on Gross National Product

Gross National Product (GNP) is the market value of all products and services produced in one year by labor and property supplied by the residents of a country. Unlike Gross Domestic Product (GDP), which defines production based on the geographical location of production, GNP allocates production based on ownership. Therefore if the firm sells new shares directly to individuals it has no effect on the Gross National product as there is no direct relation between two.

Correct Answer : Option (A) - Upliftment of the poorest of the poor

Antyodaya Anna Yojana (AAY) is a centrally sponsored scheme launched on December 2000 for one crore of the poorest families. It is on the lookout for the ‘poorest of the poor’ by providing them 35 kilos of rice and wheat at Rs.2 per kg.

Correct Answer : Option (C) - Collection of estimates of national income

The Central Statistics Organization, established in 1951, is responsible for coordination of statistical activities in the country, and evolving and maintaining statistical standards. Its activities include National Income Accounting; conduct of Annual Survey of Industries, Economic Censuses and its follow up surveys, compilation of Index of Industrial Production, as well as Consumer Price Indices for Urban NonManual Employees, Human Development Statistics, Gender Statistics, imparting training in Official Statistics, Five Year Plan work relating to Development of Statistics in the States and Union Territories; dissemination of statistical information, work relating to trade, energy, construction, and environment statistics, revision of National Industrial Classification, etc.

Correct Answer : Option (D) - Sales tax

A sales tax is a consumption tax charged at the point of purchase for certain goods and services. The tax is usually set as a percentage by the government charging the tax. Sales tax can be levied either by the Central or State Government or Central Sales tax department. The revenue from this tax was assigned to the States by amending Article 269 of the Constitution. Thus, sale within the State (IntraState sale) is within the authority of State Government, while sale outside State (Inter-State sale) is within the authority of Central Government.

Correct Answer : Option (D) - RBINET

RBINet is a communica-tion software, developed in ‘C’ and available for both DOS and UNIX machines. It allows free format messaging and file transfer on the existing BANKNET infrastructure with the help of UNIX servers installed at the 4 NCCs. Each RBINet user interacts with the local UNIX server through PADs connected to the X.25 switch. The UNIX servers in turn communicate with each other using TCP/IP over the X.25 protocol. The software allows free format messaging without any restrictions on the length of the message, enables file transfer of both ASCII-text and Binary (spreadsheets, data bases, programs etc.) files, facilitates dial-up access, and has security features such as end-to-end encryption, audit trail, etc.

Correct Answer : Option (B) - Bihar

According to the latest figures released by Government – Goa leads the country with per capita income of Rs. 1,92,652/-, while Bihar has the lowest with a per capita income of only Rs. 24,681/-. An average Goan earns 6 times more than an average Bihari.

Correct Answer : Option (A) - Central Statistical Organisation

The government is planning to merge Central Statistical Organisation (CSO) and National Sample Survey Organisation (NSSO) for promoting statistical network in the country. The newly merged unit will be named as National Statistical Organisation (NSO).

Correct Answer : Option (C) - SBI

The State Bank of India, in September 2007, became the first public sector bank to touch a market capitalisation of Rs 1,00,000 crore following a surge of over three per cent in its share price. The bank’s shares closed at Rs 1950.70 per share on the BSE, giving it a market cap of about Rs 1,02,665.12 crore. Earlier in the day, the shares rose to a life-time high of Rs 1,969.80 crore before ending with the gain of 3.43 per cent over the previous close. SBI is the only second bank in India to have attained a market capitalisation of more than Rs 1,00,000 crore. Besides, SBI, ICICI Bank has also achieved this milestone and its market cap.