Variable Reserve Ratio (Cash Reserve Ratio) is aimed to control only the volume of credit (quantitative method), not the purpose of credit for which bank gives loans. Qualitative method and selective control method are used for these purposes.

Dinesh Goswami Committee (1990) was concerned with electoral reforms.

World Bank is made up of two development institutions owned by 187 member countries - International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD). IBRD aims to reduce poverty in middle-income and creditworthy poor countries, while IDA focuses on world’s poorest countries. Their work is complemented by International Centre for the Settlement of Investment Disputes (ICSID). IFC and MIGA are another two institutions which are a part of the World Bank Group.

Corporation tax is a direct tax levied, collected and appropriated by the Union or the central government. No part of this tax can be assigned to the states.

Narrow money is the most liquid part of the money supply because the demand deposits can be withdrawn anytime during the banking hours. Time deposits on the other hand have a fixed maturity period and hence, cannot be withdrawn before expiry of this period. When we add time deposits into narrow money, we get broad money, which is of public with banks.

These are local trading blocks which will enable free trade between member nations.

Treasury bills are money market instruments to finance the short term financial requirements of the Government of India. These are discounted securities and are issued at a discount to face value. All three are the components of internal debt of a country.

APEC is a group of 21 countries. APEC is short for Asia Pacific Economic Cooperation. This group of countries spans half the surface of Earth and are home to 2/5^th of the world’s population. Indian request for membership is pending.

SLR or the Statutory Liquidity Ratio is that ration of total deposits which a commercial bank has to maintain with itself at any given point of time in the form of liquid assets like cash in hand, current balances with other banks and first class securities which can be turned into cash (gold, cash or other approve securities). Some assets have to be in liquid form to take care of financial emergencies which every bank has to face. It regulates the credit growth in India.

RBI was established in 1935 and its shares were held by private individuals. There are 20 directors who govern its activities. It was nationalized on 1^st January, 1949. The borrowing programme of the Government of India is handled by the Department of Economic Affairs under Union Finance Ministry.

Functions of RBI: sole authority to issue currency; government’s bank; banker’s bank; guardian of money market; lender of the last resort; sole reservoir of foreign exchange reserves; controller of credit; clearing house for setting inter bank transactions. It follows an independent monetary policy.

Shanghai - Shcomp; Singapore - SIMEX Shcomp is a composite index of Shanghai Stock Exchange. SIMEX and Strait Times are indicators for Singapore.

Oriental Life Insurance company (1818) is the oldest.

Neelachal Ispat Nigam Limited (NINL), a company promoted by MMTC Ltd, Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL) and other government agencies has set up a 1.1 million ton integrated iron and steel plant at Kalinganagar, Duburi, Odisha.

A non–banking financial company (NBFC) is a company registered under the Companies Act, 1956 and is engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by government or local authority or other securities of like marketable nature, leasing, hire-purchase, insurance business, chit business, etc.

IFCI - July 1948; ICICI - 1956; IDBI - July 1964; UTI - Feb 1964