Q1. With reference to the performance audit by the Comptroller and Auditor General of India (CAG), consider the following statements:

1. It is the mandatory constitutional obligation of the CAG to conduct a performance and efficiency audit to question the executive’s wisdom and economy.
2. Public Sector Banks (PSBs) are out of the purview of the performance audit of the CAG.

Which of the statements given above is/are correct?

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Q2. With reference to Know Your Customer (KYC) norms, consider the following statements:

1. A KYC is a bank regulation that financial institutions and other regulated companies must perform to identify their clients.
2. It is merely a direction issued to banks by the RBI and has no legal backing.
3. Under the existing KYC norms, the customers need to submit only one documentary proof of address.

How many of the above statements are correct?

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Q3. With reference to the Marginal Standing Facility (MSF) rate and the Bank Rate, consider the following statements:

1. The bank rate is the interest rate that the Reserve Bank of India (RBI) charges on its long-term lendings.
2. MSF is the rate at which the Reserve Bank of India borrows from the commercial banks generally against government securities.
3. The bank rate has been aligned with the MSF by the Reserve Bank of India.

How many of the above statements are correct?

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Q4. Which one of the following statements correctly explains the Kessler syndrome?

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Q5. Consider the following statements with respect to the Air Pollutants:

1. Primary pollutants are usually produced from a combustion process, such as ash from a volcanic eruption.
2. Secondary pollutants are not emitted directly, thus are less harmful than the primary pollutants.
3. Ground level ozone is a prominent example of a Primary pollutant.

How many of the above statements are correct?

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