## 10th BPS Salary Calculator - Officers

10th BPS Salary calculator for Officers

We are providing you an excel sheet calculator to calculate your gross salary for Officer Posts only. Input your new Basic Pay and Scale to get the Gross Salary calculation.

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## Day 36 - Questions

Day 36 - Balance of Payments (BOP)

( Balance of Payments, BOP Deficit, Current Account Deficit (CAD), Trade Deficit, BOP Accounts - Current, Capital and Financial Accounts )

Recommended Study links - (Go through these topics before attempting MCQs)

1.  Which of the following is true regarding Balance of Payments (BOP)?
i.  It is a record of all financial transactions performed between the residents of a country and the rest of the world
ii.  It is more concerned with transactions, rather than actual payments
iii.  It always balances, i.e., inward and outward transaction is always equal

a.  Only (i) is true
b.  Only (i) and (ii) are true
c.  Only (i) and (iii) are true
d.  All (i), (ii) and (iii) are true

2.  If the outward transactions are greater than the inward transactions, then the country faces -
a.  BOP Deficit
b.  BOP Surplus
c.  BOP balanced
d.  None of the above

3.  Which of the following is/are type(s) of BOP Accounts?
a.  Current Account
b.  Capital Account
c.  Financial Account
d.  All of the above

4.  Which of the followings is/are component(s) of Current Account?
i.  Goods
ii.  Services
iii.  Income
iv.  Current transfers, like remittances, donations, aids, etc.

a.  All except (iv)
b.  Only (i) and (ii)
c.  Only (iii) and (iv)
d.  All (i), (ii), (iii) and (iv)

5.  Current Account Deficit (CAD) will happen, if -
a.  outflow from Current Account is greater than inflow in that account
b.  inflow to Current Account is greater than outflow from that account
c.  inflow and outflow is balanced in Current Account
d.  none of the above

6.  Which of the following is/are considered in Capital Account?
a.  Non-financial assets, such as lands, etc.
b.  Non-produced assets, such as mine, etc.
c.  Both (a) and (b)
d.  None of the above

7.  Which of the following falls in Financial Account?
a.  Direct investment (e.g., FDI, ODI, etc.)
b.  Portfolio investment
c.  Reserve assets
d.  All of the above

8.  Trade Deficit occurs, when -
a.  Exports are greater than Imports
b.  Imports are greater than Exports
c.  Imports and Exports are balanced
d.  None of the above

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## Day 35 - Questions

Day 35 - Revenue Deficit, Fiscal Deficit, Primary Deficit

( Revenue Deficit, Fiscal Deficit, Primary Deficit, FRBM Act 2003 )

Recommended Study links - (Go through these topics before attempting MCQs)

1.  Which of the following is true regarding Revenue Deficit? (Assume RHS is positive)
a.  Revenue Deficit = Predicted Net Revenue - Actual Net Revenue
b.  Revenue Deficit = Predicted Expenditure - Predicted Revenue
c.  Revenue Deficit = Actual Expenditure - Actual Revenue
d.  None of the above

2.  Suppose in a financial year, the government spends more than it actually earns. Then it refers to -
a.  Revenue Deficit
b.  Fiscal Deficit
c.  Primary Deficit

3.  While Fiscal deficit means actual loss of revenue, Revenue Deficit means -
a.  actual loss
b.  actual profit
c.  Either (a) or (b)
d.  None of the above

4.  Which of the following statement is true regarding Fiscal Deficit?
a.  While calculating Fiscal deficit, borrowings of government are excluded
b.  While calculating Fiscal deficit, borrowings of government are included
c.  Government borrowings has nothing to do with Fiscal Deficit
d.  All are false

5.  Primary Deficit is -
a.  Difference between Revenue Deficit and Fiscal Deficit
b.  Revenue Deficit minus interest on borrowings
c.  Fiscal Deficit minus interest on borrowings
d.  None of the above

6.  What is the full form of FRBM?
a.  Fiscal Regulation and Budget Management
b.  Fiscal Responsibility and Budget Management
c.  Fiscal Responsibility and Budget Maintenance
d.  Fiscal Regulation and Budget Maintenance

7.  Which of the following was not a goal of FRBM Act, 2003?
a.  Eliminate Revenue Deficit
b.  Build Revenue Surplus thereafter
c.  Bring down Fiscal Deficit to a manageable 4 % of GDP, by March 2008
d.  All are the goals of FRBM Act 2003

8.  The Union Government, in Budget 2014-15, set a target for Fiscal Deficit (2014-15), which was 4.1 % of GDP. Which of the following is actually achieved at the end of that financial year?
a.  4.5 % of GDP
b.  4.2 % of GDP
c.  4.1 % of GDP
d.  4 % of GDP

9.
Revenue Surplus occurs, when -
a.  the actual net revenue is greater than the predicted net revenue
b.  the actual net revenue is less than the predicted net revenue
c.  the actual revenue is greater than the predicted revenue
d.  revenue surplus cannot occur

10.  What is the target of fiscal deficit for financial year 2015-16, set in Union Budget 2014-15?
a.  3 % of GDP
b.  3.6 % of GDP
c.  4 % of GDP
d.  4.1 % of GDP

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## Day 34 - Questions

Day 34 - Public Funds

( Public Funds - Consolidated Fund, Contingency Fund, Public Account )

Recommended Study links - (Go through these topics before attempting MCQs)

1.  Which of the following is not a source of tax revenue of government?
a.  Export and imports
b.  Goods and Services produced
c.  Inter-governmental aids
d.  Income of individuals and corporations

2.  Who audits the receipts and expenditures of Consolidated Fund of India?
a.  Finance Secretary
b.  Finance Minister
c.  Comptroller and Auditor General
d.  Prime Minister

3.  Income from Treasury Bills issued by government will be stored in -
a.  Consolidated Fund
b.  Contingency Fund
c.  Public Account
d.  Any of these

4.  Withdrawal from which of the following account will require authorization of Parliament?
a.  Consolidated Fund
b.  Contingency Fund
c.  Public Account
d.  All of the above

5.  Which of the following account acts as an imprest account of the government?
a.  Consolidated Fund
b.  Contingency Fund
c.  Public Account
d.  None of the above

6.  Who has the authority of expenditure from Contingency Fund of India?
a.  Prime Minister
b.  President
c.  Finance Secretary
d.  Parliament

7.  Public money from National Pension Scheme (NPS) (government is liable to repay to the individual) will be stored in which account?
a.  Consolidated Fund
b.  Contingency Fund
c.  Public Account
d.  None of the above

8.  What is the fixed corpus of Contingency Fund of India?
a.  Rs. 50 crore
b.  Rs. 100 crore
c.  Rs. 500 crore
d.  Rs. 1,000 crore

9.  Expenditure from which of the following funds does not require any authorization, either prior or post, of the Parliament?
a.  Consolidated Fund
b.  Contingency Fund
c.  Public Account
d.  Both (b) and (c)

Note that Post authorization of Parliament is required for Contingency Fund, to resume the spent money in it.

10.  Expenditure from which of the following funds does not require any prior authorization of the Parliament?
a.  Consolidated Fund
b.  Contingency Fund
c.  Public Account
d.  Both (b) and (c)

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## Bankers Wage Revision - 10th BPS

10th Bipartite Settlement (BPS)

Wage settlement for Probationary Officer (PO) posts is finalized today. Here we are providing a calculation of approx. salary for newly joined PO.

Pay Scale of Bank PO (JMGS Scale - I)

23,700 - (980x7) - 30,560 - (1145x2) - 32,850 - (1300x7) - 41,940

Pay Slip Components Calculation
* as per current DA

1.  Basic Pay = 23,700
2.  DA on Basic Pay = 33.7 % of 23,700 = 7986.90

3.  Special Pay = 7.75 % of 23,700 = 1836.75
4.  DA on Special Pay = 33.7 % of 1836.75 = 619

5.  HRA on Basic = 2133 (if 9 %), 1896 (if 8 %), 1659 (if 7 %) (depending on place of posting)
6.  CCA = 3 % or 4 %, subject to maximum of 600 or 870 respectively (depending on city posting)

7.  Medical = 8,000 per year (not a Pay Slip Component)

Now taking Basic Pay, Special Pay, DA both on Basic and Special Pay, HRA @ 9 % (for metro cities), and CCA as 870,

Gross Salary = 23,700 + 1836.75 + 7986.9 + 619 + 2133 + 870
= 37,145.65

Assumptions here -

1.  No leased accommodation is availed. Note that if you avail lease facility, then you have to deduct the HRA component from the gross salary. Instead you will be reimbursed with the leased amount.

2.  Place of posting is metro city, therefore 9 % HRA is taken. Otherwise, use 8 % or 7 % HRA depending on the place of posting, to calculate the HRA component.

3.  City Compensatory Allowance (CCA) is taken as 870. CCA will depend on the place of posting.

Note that, actual Inhand salary will be less than this Gross Salary, because of several deductions, as NPS (Pension) deduction, etc.

Officers Salary Excel Calculator

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Disclaimer - This is an independent calculation, and does not bear the original figure. Refer the official notification of respective authority.

## Day 33 - Questions

Day 33 - General and Railway Budget

( General and Railway Budget, Budget 2015-16 )

Recommended Study links - (Go through these topics before attempting MCQs)

1.  The Union Budget of India, also known as AFS in the Article 112 of the Constitution of India. What is the full form of AFS?
a.  Annual Financial Section
b.  Annual Financial Statement
c.  Account Financial Statement
d.  Account Financial Section

2.  Union Budget is presented each year by the Finance Minister of India in Parliament on -
a.  February 28
b.  Last working day of February
c.  March 1
d.  Any day in the last week of February

3.  The budget consists of -
a.  Financial Bill
b.  Appropriation Bill
c.  Both (a) and (b)
d.  Neither (a) nor (b)

4.  Which of the following is/are true regarding Interim Budget?
a.  Interim Budget is presented on the year of Parliament election (Loksabha election)
b.  It is a complete set of accounts, consisting both expenditures and receipts of government
c.  Any major change in income tax laws is generally avoided in Interim Budget, due to possibility of government change
d.  All of the above

5.  The first Union budget of independent India was presented by -
a.  I.K.Gujral
b.  Jawaharlal Nehru
c.  R.K.Shanmukham Chetty
d.  Morarji Desai

6.  Which Finance Minister presented budget for maximum times (10 times - 8 full budgets and 2 interim budgets)
a.  R.K.Shanmukham Chetty
b.  Morarji Desai
c.  Indira Gandhi
d.  Pranab Mukherjee

7.  In the Budget 2015-16, fiscal deficit target for financial year 2015-16 is set at -
a.  4 %
b.  4.1 %
c.  3.9 %
d.  4.2 %

8.  In the Budget 2015-16, corporate tax rate is reduced from 30 % to -
a.  25 %
b.  20 %
c.  27 %
d.  15 %

9.  Which of the following tax is abolished in the Budget 2015-16?
a.  Corporate Tax
b.  Service Tax
c.  Wealth Tax
d.  Octroi

10.  In the Budget 2015-16, Forward Market Commission (FMC), the regulator of commodity market, is proposed to merge with -
a.  Reserve Bank of India (RBI)
b.  Securities and Exchange Board of India (SEBI)
c.  National Stock Exchange (NSE)
d.  Central Board of Direct Taxes (CBDT)

11.  In the Budget 2015-16, Rural Infrastructure Development Bank is proposed to be built with corpus of -
a.  Rs. 20,000 crore
b.  Rs. 25,000 crore
c.  Rs. 30,000 crore
d.  Rs. 35,000 crore

12.  In the Budget 2015-16, University of Disability Studies is proposed to be built in -
b.  Punjab
c.  Kerala
d.  West Bengal

13.  In the Budget 2015-16, Center of film production, animation and gaming is proposed to be built in -
c.  Uttarakhand

14.  Which of the following state will not get AIIMS in the Budget 2015-16?
a.  Jammu and Kashmir
d.  Assam

15.  JAM Trinity consists of -
a.  Jan Dhan Yojana
c.  Mobile
d.  All of the above

16.  MUDRA Bank will regulate and refinance all Micro-Finance Institutions (MFIs) in India. What is the full form of 'MUDRA'?
a.  Micro and Universal Development Refinance Agency
b.  Micro Units Development and Refinance Agency
c.  Micro-finance Units Development and Regulation Agency
d.  Micro Units Development and Regulation Agency

17.  What is the total Renewable Energy (RE) target for 2022, according to the Budget 2015-16?
a.  1,00,000 MW
b.  1,50,000 MW
c.  1,75,000 MW
d.  2,00,000 MW

18.  PG Institute of Horticulture is to be built in -
a.  New Delhi
b.  Mumbai
c.  Amritsar
d.  Kolkata

19.  In the Budget 2015-16, service tax is raised from 12.36 % to -
a.  15 %
b.  14 %
c.  15.36 %
d.  16 %

20.  Which Railway Minister has presented the Railway Budget 2015-16 in Parliament?
b.  Suresh Prabhu
d.  Arun Jaitley

21.  How many new trains are announced in the Railway Budget 2015-16?
a.  100 trains
b.  150 trains
c.  75 trains
d.  No new trains

22.  In the Railway Budget 2015-16, ticket booking window is increased from 2 months to -
a.  3 months (90 days)
b.  4 months (120 days)
c.  5 months (150 days)
d.  6 months (180 days)

23.  In the Railway Budget 2015-16, how many stations are announced to be brought under the 'Adarsh Station Scheme', that will provide basic amenities like toilets, drinking water, catering services, waiting rooms, etc.?
a.  100 stations
b.  150 stations
c.  200 stations
d.  250 stations

24.  In the Railway Budget 2015-16, how many Railway Research Center is proposed?
a.  3
b.  4
c.  5
d.  6

25.  'Operation 5 minute' in the Railway Budget 2015-16, refers to -
a.  unreserved ticket purchase through smart phones, debit cards within 5 minute from entering station
b.  train boarding within 5 minutes from entering station
c.  local train every 5 minute in major stations
d.  none of the above

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## SSC CGL 2014 Tier 2 Marks

SSC CGL 2014 Tier 2 Marks Released

## Public Funds

Sources of Public / Government Funds

Government earns revenue from both tax and non-tax sources as follows -

1.  Tax revenues -

• Taxes levied on the incomes and wealth accumulation of individuals, as well as, corporations
• Taxes on the goods and services produced
• Taxes on exports and imports

2.  Non-Tax revenues -
• Government-owned corporations, or Public Sector Undertaking (PSU) incomes
• Inter-governmental aids
• Central bank (RBI) revenue and capital receipts in the form of External loans and debts from international financial institutions, etc.

Accounts of government

The accounts of government are kept in three parts, as follows -

1.  Consolidated Fund of India (Article 266(1) of Constitution)

This is the chief account of Government of India.

All revenues received by means of taxes, like Income Tax, Customs, Central Excise, etc. and non-tax revenues, like income through government business, PSUs, etc. are credited into the Consolidated Fund of India. Loans raised by issue of Treasury Bills are also credited to this account.

The government meets all its expenditure, including loan repayments, etc. from this fund.

Note that, no amount can be withdrawn from this fund without the authorization of the Parliament. The Comptroller and Auditor General of India (C&AG) audits these funds and reports to the relevant legislatures on their management.

2.  Contingency Fund of India (Article 267(1) of Constitution)

This account is set up for the purpose of meeting unforeseen expenditure, like natural disasters, etc., which are resumed to the fund to the full extend as soon as Parliament authorized additional expenditure. Thus, this fund acts like an imprest account of Government of India.

This account is held on behalf of President, by the Secretary of Ministry of Finance, Department of Economic Affairs.

Note that the corpus of this fund is currently Rs. 500 crore (In 2005, it was raised from Rs. 50 crore to Rs. 500 crore)

3.  Public Account of India (Article 266(2) of Constitution)

All other public moneys, other than those covered under Consolidated Fund of India, received by or on behalf of the government of India are credited to the Public Account of India.

The transactions under debt, deposits and advances in this part are those in respect of which, government incurs a liability to repay the money received or has a claim to recover the amounts paid. e.g., Provident Fund, Pension Scheme, etc. of government is stored in this account.

The receipts under Public Account do not constitute normal receipts of government. Parliamentary Authorization for payments from the Public Account is therefore not required.

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## Day 32 - Questions

Day 32 - Merger, Acquisition, Amalgamation, Joint Venture

( Merger and its types, Amalgamation, Acquisition, Joint Venture )

Recommended Study links - (Go through these topics before attempting MCQs)

1.  If two companies are combined together to form a new entity and the identities of the former companies are lost, then it is known as -
a.  Merger
b.  Amalgamation
c.  Acquisition
d.  Joint Venture

2.  If two companies are combined together, and the smaller company loses its identity to the larger company, then it is known as -
a.  Merger
b.  Amalgamation
c.  Acquisition
d.  Joint Venture

3.  If a company buys majority stake (i.e., > 50 %) of another company and gets the control of the company, and both the companies survive their identities, then it is known as -
a.  Merger
b.  Amalgamation
c.  Acquisition
d.  Joint Venture

4.  If two companies come together to form a new company, where both shares the costs, profits, controls between themselves, then it is known as -
a.  Merger
b.  Amalgamation
c.  Acquisition
d.  Joint Venture

5.  New Bank of India is ___ with / by Punjab National Bank in 1993.
Choose the correct option.
a.  Merged
b.  Amalgamated
c.  Acquired
d.  Joint Ventured

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## Merger, Acquisition, Amalgamation, JV

Merger

A merger refers to a combination of two or more companies, usually of same size, into one company.

What happens in merger?
• The shareholders of the company being merged become shareholders of the larger company
• The assets and liabilities of a company get vested into the assets and liabilities of another company
• Identity of one ore more entities (smaller companies) is lost to the larger company (to whom the smaller companies are merged), but no new entity is formed

It can be thought as a marriage between two companies of same size, in which one company survives its own name (larger company), and the other (smaller company) ceases to exist as a legal entity.

For example, merger of ING Vysya Bank with Kotak Mahindra Bank (KMB)

Types of Mergers

1.  Horizontal Merger - It occurs when the two merging companies both produce similar product in the same industry or sector.

For example, merging of Coca-cola and Pepsi beverage division would be a Horizontal merger.

2.  Vertical Merger - It occurs when both the merging companies operate in the same industry, but at different stages in the production of the same finished good.

For example, merger of a tire producing company with a car manufacturing company would be a Vertical merger.

3.  Conglomerate Merger - It occurs when the two merging firms operate in different industry or sector.

For example, if a shoe company, merges with a soft drink company, then it would be an example of Conglomerate Merger.

Amalgamation

Amalgamation is the transfer of all or some part of assets and liabilities of one or more companies to a new company.

What happens in Amalgamation?
• All of the companies lose their identities, and a new separate entity is born
• Shareholders of all the companies get shares of the new company

For example, Maruti Motors operating in India and Suzuki based in Japan amalgamated to form a new company, named Maruti Suzuki (India) Limited.

Acquisition

Acquisition of a company (usually smaller) by another company (usually bigger) refers to the transfer of ownership right in the property and asset of acquired company to the acquiring company, without any combination of companies.

What happens in Acquisition?
• Acquiring company purchases majority stake (>50 %) in the acquired company, thus getting the controlling/ownership right
• Both the acquiring and the acquired company survive as legal entities.

For example, Facebook acquired Whatsapp in USD 19 billion last year.

Joint Venture (JV)

Joint Venture is a business agreement between two or more companies for a finite time, to develop a new entity and new assets, by contributing their equity/stock.

The companies exercise their control over the new enterprise, and share - revenues/profits and expenditures/losses.

What happens in Joint Venture?
• Both the companies remain independent. They just contribute in the Joint Venture for a particular product as per agreement, for a finite time
• Control, Profits, Losses, Costs, etc. are shared by themselves as per agreement

For example, Tata Docomo is a joint venture between Tata Teleservices (India) and NTT Docomo (Japan).

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## SSC CGL 2014 Tier 2 Result

SSC CGL 2014 Tier 2 Result

## Day 31 - Questions

Day 31 - Demat Account, ASBA

( Demat Account, ASBA )

Recommended Study links - (Go through these topics before attempting MCQs)

1.  To invest in shares and securities in electronic form, which type of account is needed?
a.  Savings Account
b.  Current Account
c.  Demat Account
d.  Recurring Account

2.  The process of converting securities from digital form to physical form is -
a.  Dematerialization
b.  Rematerialization
c.  Conversion
d.  None of the above

3.  Depository Participants (DP) act as intermediaries between -
a.  Depository and Investors
b.  Depository and Government
c.  Investors and Stock Exchange
d.  Investors and Issuing Company

4.  For any investor / client, to avail the services provided by the Depository, has to open Depository Account, also known as -
a.  Savings Account
b.  Current Account
c.  Demat Account
d.  Recurring Account

5.  What is the full form of ASBA?
a.  Allotment Supported by Blocked Amount
b.  Application Supported by Blocked Amount
c.  Assessment Supported by Blocked Amount
d.  Allotment Supplied by Blocked Amount

6.  Which of the following is/are true regarding ASBA?
a.  Investors need not pay the entire bidding money before allotment
b.  If shares are allotted, only then the blocked amount is debited from the investors accounts; otherwise blocked amount is freed / unblocked
c.  ASBA is an application specified to the bank of the investor, asking to block the specified amount for bidding of shares.
d.  All are true

7.  Which of the following is/are true regarding ASBA?
a.  The blocked amount will continue to earn interest, during the application processing period, if held in an interest bearing account (e.g., savings account)
b.  Bank marks a lien on the blocked amount, and removes immediately after the allotment process is completed
c.  ASBA blocks bidding amount in any type of account, like Savings Account, Current Account, etc. If share is allotted, then the amount is debited from those accounts, and shares are credited to the Demat account of the investor.
d.  All are true

Note - Do not refer any source while answering the questions. You can comment in the Comment Section below.

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