1. Name the non-governmental organisation (NGO) set up in Mumbai to work with street- children which was named Charity of the Year at the first-ever charity awards in the UK?

Answer: Magic Bus.

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MCQ-> In the annals of investing, Warren Buffett stands alone. Starting from scratch, simply by picking stocks and companies for investment, Buffett amassed one of the epochal fortunes of the twentieth century. Over a period of four decades more than enough to iron out the effects of fortuitous rolls of the dice, Buffett outperformed the stock market, by a stunning margin and without taking undue risks or suffering a single losing year. Buffett did this in markets bullish and bearish and through economies fat and lean, from the Eisenhower years to Bill Clinton, from the l950s to the l990s, from saddle shoes and Vietnam to junk bonds and the information age. Over the broad sweep of postwar America, as the major stock averages advanced by 11 percent or so a year, Buffett racked up a compounded annual gain of 29.2 percent. The uniqueness of this achievement is more significant in that it was the fruit of old-fashioned, long-term investing. Wall Street’s modern financiers got rich by exploiting their control of the public's money: their essential trick was to take in and sell out the public at opportune moments. Buffett shunned this game, as well as the more venal excesses for which Wall Street is deservedly famous. In effect, he rediscovered the art of pure capitalism, a cold-blooded sport, but a fair one. Buffett began his career, working out his study in Omaha in 1956. His grasp of simple verities gave rise to a drama that would recur throughout his life. Long before those pilgrimages to Omaha, long before Buffett had a record, he would stand in a comer at college parties, baby-faced and bright-eyed, holding forth on the universe as a dozen or two of his older, drunken fraternity brothers crowded around. A few years later, when these friends had metamorphosed into young associates starting out on Wall Street, the ritual was the same. Buffett, the youngest of the group, would plop himself in a big, broad club chair and expound on finance while the others sat at his feet. On Wall Street, his homespun manner made him a cult figure. Where finance was so forbiddingly complex, Buffett could explain it like a general-store clerk discussing the weather. He never forgot that underneath each stock and bond, no matter how arcane, there lay a tangible, ordinary business. Beneath the jargon of Wall Street, he seemed to unearth a street from small-town America. In such a complex age, what was stunning about Buffett was his applicability. Most of what Buffett did was imitable by the average person (this is why the multitudes flocked to Omaha). It is curious irony that as more Americans acquired an interest in investing, Wall Street became more complex and more forbidding than ever. Buffett was born in the midst of depression. The depression cast a long shadow on Americans, but the post war prosperity eclipsed it. Unlike the modern portfolio manager, whose mind- set is that of a trader, Buffett risked his capital on the long term growth of a few select businesses. In this, he resembled the magnates of a previous age, such as J P Morgan Sr.As Jack Newfield wrote of Robert Kennedy, Buffett was not a hero, only a hope; not a myth, only a man. Despite his broad wit, he was strangely stunted. When he went to Paris, his only reaction was that he had no interest in sight-seeing and that the food was better in Omaha. His talent sprang from his unrivaled independence of mind and ability to focus on his work and shut out the world, yet those same qualities exacted a toll. Once, when Buffett was visiting the publisher Katharine Graham on Martha’s Vineyard, a friend remarked on the beauty of the sunset. Buffett replied that he hadn't focused on it, as though it were necessary for him to exert a deliberate act of concentration to "focus" on a sunset. Even at his California beachfront vacation home, Buffett would work every day for weeks and not go near the water. Like other prodigies, he paid a price. Having been raised in a home with more than its share of demons, he lived within an emotional fortress. The few people who shared his office had no knowledge of the inner man, even after decades. Even his children could scarcely recall a time when he broke through his surface calm and showed some feeling. Though part of him is a showman or preacher, he is essentially a private person. Peter Lynch, the mutual-fund wizard, visited Buffett in the 1980s and was struck by the tranquility in his inner sanctum. His archives, neatly alphabetized in metal filing cabinets, looked as files had in another era. He had no armies of traders, no rows of electronic screens, as Lynch did. Buffett had no price charts, no computer - only a newspaper clipping from 1929 and an antique ticker under a glass dome. The two of them paced the floor, recounting their storied histories, what they had bought, what they had sold. Where Lynch had kicked out his losers every few weeks, Buffett had owned mostly the same few stocks for years and years. Lynch felt a pang, as though he had traveled back in time. Buffett’s one concession to modernity is a private jet. Otherwise, he derives little pleasure from spending his fabulous wealth. He has no art collection or snazzy car, and he has never lost his taste for hamburgers. He lives in a commonplace house on a tree-lined block, on the same street where he works. His consuming passion - and pleasure - is his work, or, as he calls it, his canvas. It is there that he revealed the secrets of his trade, and left a self-portrait.“Saddle shoes and Vietnam”, as expressed in the passage, refers to: I. Denier cri and Vietnam war II. Growth of leather footwear industry and Vietnam shoe controversy III. Modern U.S. population and traditional expatriates IV. Industrial revolution and Vietnam Olympics V. Fashion and Politics...
MCQ-> Studies of the factors governing reading development in young children have achieved a remarkable degree of consensus over the past two decades. The consensus concerns the causal role of ‘phonological skills in young children’s reading progress. Children who have good phonological skills, or good ‘phonological awareness’ become good readers and good spellers. Children with poor phonological skills progress more poorly. In particular, those who have a specific phonological deficit are likely to be classified as dyslexic by the time that they are 9 or 10 years old.Phonological skills in young children can be measured at a number of different levels. The term phonological awareness is a global one, and refers to a deficit in recognising smaller units of sound within spoken words. Development work has shown that this deficit can be at the level of syllables, of onsets and rimes, or phonemes. For example, a 4-year old child might have difficulty in recognising that a word like valentine has three syllables, suggesting a lack of syllabic awareness. A five-year-old might have difficulty in recognizing that the odd work out in the set of words fan, cat, hat, mat is fan. This task requires an awareness of the sub-syllabic units of the onset and the rime. The onset corresponds to any initial consonants in a syllable words, and the rime corresponds to the vowel and to any following consonants. Rimes correspond to rhyme in single-syllable words, and so the rime in fan differs from the rime in cat, hat and mat. In longer words, rime and rhyme may differ. The onsets in val:en:tine are /v/ and /t/, and the rimes correspond to the selling patterns ‘al’, ‘en’ and’ ine’.A six-year-old might have difficulty in recognising that plea and pray begin with the same initial sound. This is a phonemic judgement. Although the initial phoneme /p/ is shared between the two words, in plea it is part of the onset ‘pl’ and in pray it is part if the onset ‘pr’. Until children can segment the onset (or the rime), such phonemic judgements are difficult for them to make. In fact, a recent survey of different developmental studies has shown that the different levels of phonological awareness appear to emerge sequentially. The awareness of syllables, onsets, and rimes appears to merge at around the ages of 3 and 4, long before most children go to school. The awareness of phonemes, on the other hand, usually emerges at around the age of 5 or 6, when children have been taught to read for about a year. An awareness of onsets and rimes thus appears to be a precursor of reading, whereas an awareness of phonemes at every serial position in a word only appears to develop as reading is taught. The onset-rime and phonemic levels of phonological structure, however, are not distinct. Many onsets in English are single phonemes, and so are some rimes (e.g. sea, go, zoo).The early availability of onsets and rimes is supported by studies that have compared the development of phonological awareness of onsets, rimes, and phonemes in the same subjects using the same phonological awareness tasks. For example, a study by Treiman and Zudowski used a same/different judgement task based on the beginning or the end sounds of words. In the beginning sound task, the words either began with the same onset, as in plea and plank, or shared only the initial phoneme, as in plea and pray. In the end-sound task, the words either shared the entire rime, as in spit and wit, or shared only the final phoneme, as in rat and wit. Treiman and Zudowski showed that four- and five-year-old children found the onset-rime version of the same/different task significantly easier than the version based on phonemes. Only the sixyear- olds, who had been learning to read for about a year, were able to perform both versions of the tasks with an equal level of success.From the following statements, pick out the true statement according to the passage.
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MCQ->All the given companies handled only two types of projects during all the given years­ governmental and non­governmental. If the respective ratio between total number of governmental projects and non­governmental projects handled by all the given companies together in 2007 is 13 : 8, total how many governmental projects were handled by all the given companies together in 2007 ?...
MCQ-> Read the following passage carefully and answer the questions given below it. Certain words/phrases have been given in bold to help you locate them while answering some of the questions: In every religion, culture and civilization feeding the poor and hungry is considered one of the most noble deeds. However such large scale feeding will require huge investment both in resources and time. A better alternative is to create conditions by which proper wholesome food is available to all the rural poor at affordable price. Getting this done will be the biggest charity.Our work with the rural poor in villages of Western Maharashtra has shown that most of these people are landless laborers. After working the whole day in the fields in scorching sun they come home in the evening and have to cook for the whole family. The cooking is done on the most primitive chulha (wood stove) which results in tremendous indoor air pollution. Many of them also have no electricity so they use primitive and polluting kerosene lamps. World Health Organization (WHO) data has shown that about 300,000 deaths/ year in India can be directly attributed to indoor air pollution in such -nuts. At the same time this pollution results in many respiratory ailments and these people spend close Rs. 200-400 per month on medical bills. Besides the pollution, rural poor also eat very poor diet. They eat  whatever is available daily at Public Distribution System (PDS) shops and most of the times these shops are out of rations. Thus they cook whatever is available. The hard work together with poor eating takes a heavy toll on their health. Besides this malnutrition also affects the physical and mental health of their children and may lead to creation of a whole generation of mentally challenged citizens. So I feel that the best way to provide adequate food for rural poor is by setting up rural restaurants on large scale. These restaurants will be similar to regular ones but for people below poverty line (BPL) they will provide meals at subsidized rates. These citizens will pay only Rs. 10 per meal and the rest, which is expected to be quite small, will come as a part of Government subsidy. With existing open market prices of vegetables and groceries average cost of simple meal for a family of four comes to Rs. 50 per meal or Rs. 12.50 per person per meal. If the PDS prices are taken for the groceries then the average cost will be Rs. 7.50 per person per meal. This makes the subsidy approximately Rs. 2.50 per person per meal only and hence quite small. The buying of meals could be by the use of UID (Aadhar) card by rural poor. The total cost should be Rs. 30 per day for three vegetarian meals of breakfast, lunch and dinner. The rural poor will get better nutrition and tasty food by eating  in these restaurants. Besides the time saved can be used for resting and other gainful activities like teaching children. Since the food will not be cooked in huts, this strategy will result in less pollution in rural households. This will be beneficial for their health. Besides, women's chores will be reduced drastically. Another advantage of eating in these restaurants will be increased social interaction of rural poor since this could also become a meeting place. Eating in restaurants will also require fewer utensils in house and hence less expenditure. For other things like hot water for bath, making tea, boiling milk and cooking on holidays some utensils and fuel will be required. Our Institute NARI has developed an extremely efficient and environment-friendly stove which provides simultaneously both light and heat for cooking and hence may provide the necessary functions. Providing reasonably priced wholesome food is the basic aim and program of Government of India (GOI). This is the basis of their much touted food security  program.However in 65years they have not been able to do so. Thus I feel a public private partnership can help in this. To help the restaurant owners the GOI or state Governments should provide them with soft loans and other line of credit for setting up such facilities. Corporate world can take this up as a part of their corporate social responsibility activity. Their participation will help ensure good quality restaurants and services. Besides the charitable work, this will also make good business sense. McDonald's-type restaurant systems for rural areas can be a good model to be set up for quality control both in terms of hygiene and in terms of quality of food material. However focus will be on availability of wholesome simple vegetarian food in these restaurants.More clientele (volumes) will make these restaurants economical. Existing models of dhabas, udipi type restaurants etc. can be used in this scheme. These restaurants may also be able to provide midday meals in rural schools. At present the midday meal program is faltering due to various reasons. Food coupons in western countries provide cheap food for poor. However quite a number of fast food restaurants in US do not accept them. Besides these coupons are most of the times used for non-food items, it will be mandatory for rural restaurants to accept payment via UID cards for BPL citizens. Existing soup kitchens, lagers and temple food are based on charity. For large scale rural use it should be based on good social enterprise  business model. Cooking food in these restaurants will also result in much more efficient use of energy since energy/ kg of food cooked in households is greater than that in restaurants. The main thing however will be to reduce drastically the food wastage In these restaurants. Rural restaurants can also be forced to use clean fuels like LPG or locally produced biomass-based liquid fuels. This strategy is very difficult to enforce for individual households. Large scale employment generation in rural areas may result because of this activity. With an average norm of 30 people employed/ 100-chair restaurant, this program has the potential of generating about 20 million jobs permanently in rural areas. Besides the infrastructure development in setting up restaurants and establishing the food chain etc will help the local farmers and will create huge wealth generation in these areas. In the long run this strategy may provide better food security for rural poor than the existing one which is based on cheap food availability in PDS - a system which is prone to corruption and leakage.In accordance with the view expressed by the writer of this article, what is the biggest charity ?
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MCQ-> Read the following passage carefully and answer the questions given at the end.Passage 4Public sector banks (PSBs) are pulling back on credit disbursement to lower rated companies, as they keep a closer watch on using their own scarce capital and the banking regulator heightens its scrutiny on loans being sanctioned. Bankers say the Reserve Bank of India has started strictly monitoring how banks are utilizing their capital. Any big-ticket loan to lower rated companies is being questioned. Almost all large public sector banks that reported their first quarter results so far have showed a contraction in credit disbursal on a year-to-date basis, as most banks have shifted to a strategy of lending largely to government-owned "Navratna" companies and highly rated private sector companies. On a sequential basis too, banks have grown their loan book at an anaemic rate.To be sure, in the first quarter, loan demand is not quite robust. However, in the first quarter last year, banks had healthier loan growth on a sequential basis than this year. The country's largest lender State Bank of India grew its loan book at only 1.21% quarter-on-quarter. Meanwhile, Bank of Baroda and Punjab National Bank shrank their loan book by 1.97% and 0.66% respectively in the first quarter on a sequential basis.Last year, State Bank of India had seen sequential loan growth of 3.37%, while Bank of Baroda had seen a smaller contraction of 0.22%. Punjab National Bank had seen a growth of 0.46% in loan book between the January-March and April-June quarters last year. On a year-to-date basis, SBI's credit growth fell more than 2%, Bank of Baroda's credit growth contracted 4.71% and Bank of India's credit growth shrank about 3%. SBI chief Arundhati Bhattacharya said the bank's year-to-date credit growth fell as the bank focused on ‘A’ rated customers. About 90% of the loans in the quarter were given to high-rated companies. "Part of this was a conscious decision and part of it is because we actually did not get good fresh proposals in the quarter," Bhattacharya said.According to bankers, while part of the credit contraction is due to the economic slowdown, capital constraints and reluctance to take on excessive risk has also played a role. "Most of the PSU banks are facing pressure on capital adequacy. It is challenging to maintain 9% core capital adequacy. The pressure on monitoring capital adequacy and maintaining capital buffer is so strict that you cannot grow aggressively," said Rupa Rege Nitsure, chief economist at Bank of Baroda.Nitsure said capital conservation pressures will substantially cut down "irrational expansion of loans" in some smaller banks, which used to grow at a rate much higher than the industry average. The companies coming to banks, in turn, will have to make themselves more creditworthy for banks to lend. "The conservation of capital is going to inculcate a lot of discipline in both banks and borrowers," she said.For every loan that a bank disburses, some amount of money is required to be set aside as provision. Lower the credit rating of the company, riskier the loan is perceived to be. Thus, the bank is required to set aside more capital for a lower rated company than what it otherwise would do for a higher rated client. New international accounting norms, known as Basel III norms, require banks to maintain higher capital and higher liquidity. They also require a bank to set aside "buffer" capital to meet contingencies. As per the norms, a bank's total capital adequacy ratio should be 12% at any time, in which tier-I, or the core capital, should be at 9%. Capital adequacy is calculated by dividing total capital by risk-weighted assets. If the loans have been given to lower rated companies, risk weight goes up and capital adequacy falls.According to bankers, all loan decisions are now being assessed on the basis of the capital that needs to be set aside as provision against the loan and as a result, loans to lower rated companies are being avoided. According to a senior banker with a public sector bank, the capital adequacy situation is so precarious in some banks that if the risk weight increases a few basis points, the proposal gets cancelled. The banker did not wish to be named. One basis point is one hundredth of a percentage point. Bankers add that the Reserve Bank of India has also started strictly monitoring how banks are utilising their capital. Any big-ticket loan to lower rated companies is being questioned.In this scenario, banks are looking for safe bets, even if it means that profitability is being compromised. "About 25% of our loans this quarter was given to Navratna companies, who pay at base rate. This resulted in contraction of our net interest margin (NIM)," said Bank of India chairperson V.R. Iyer, while discussing the bank's first quarter results with the media. Bank of India's NIM, or the difference between yields on advances and cost of deposits, a key gauge of profitability, fell in the first quarter to 2.45% from 3.07% a year ago, as the bank focused on lending to highly rated customers.Analysts, however, say the strategy being followed by banks is short-sighted. "A high rated client will take loans at base rate and will not give any fee income to a bank. A bank will never be profitable that way. Besides, there are only so many PSU companies to chase. All banks cannot be chasing them all at a time. Fact is, the banks are badly hit by NPA and are afraid to lend now to big projects. They need capital, true, but they have become risk-averse," said a senior analyst with a local brokerage who did not wish to be named.Various estimates suggest that Indian banks would require more than Rs. 2 trillion of additional capital to have this kind of capital adequacy ratio by 2019. The central government, which owns the majority share of these banks, has been cutting down on its commitment to recapitalize the banks. In 2013-14, the government infused Rs. 14,000 crore in its banks. However, in 2014-15, the government will infuse just Rs. 11,200 crore.Which of the following statements is correct according to the passage?
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