1. Whichunion ministry has launched Twitter Sewa for addressing the complaints ofcommon man in the telecom and postal sectors?

Answer: Ministry ofCommunications

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MCQ-> Read the following passage carefully and answer the questions given below it. Certain words/phrases have been printed in bold to help you locate them while answering some of the questions. The past quarter of a century has seen several bursts of selling by the world’s governments, mostly but not always in benign market conditions. Those in the OECD, a rich-country club, divested plenty of stuff in the 20 years before the global financial crisis. The first privatisation wave, which built up from the mid-1980s and peaked in 2000, was largely European. The drive to cut state intervention under Margaret Thatcher in Britain soon spread to the continent. The movement gathered pace after 1991, when eastern Europe put thousands of rusting state-owned enterprises (SOEs) on the block. A second wave came in the mid-2000s, as European economies sought to cash in on buoyant markets. But activity in OECD countries slowed sharply as the financial crisis began. In fact, it reversed. Bailouts of failing banks and companies have contributed to a dramatic increase in government purchases of corporate equity during the past five years. A more lasting fea ture is the expansion of the state capitalism practised by China and other emerging economic powers. Governments have actually bought more equity than they have sold in most years since 2007, though sales far exceeded purchases in 2013. Today privatisation is once again “alive and well”, says William Megginson of the Michael Price College of Business at the University of Oklahoma. According to a global tally he recently completed, 2012 was the third-best year ever, and preliminary evidence suggests that 2013 may have been better. However, the geography of sell-offs has changed, with emerging markets now to the fore. China, for instance, has been selling minority stakes in banking, energy, engineering and broadcasting; Brazil is selling airports to help finance a $20 billion investment programme. Eleven of the 20 largest IPOs between 2005 and 2013 were sales of minority stakes by SOEs, mostly in developing countries. By contrast, state-owned assets are now “the forgotten side of the balance-sheet” in many advanced economies, says Dag Detter, managing partner of Whetstone Solutions, an adviser to governments on asset restructuring. They shouldn’t be. Governments of OECD countries still oversee vast piles of assets, from banks and utilities to buildings, land and the riches beneath (see table). Selling some of these holdings could work wonders: reduce debt, finance infrastructure, boost economic efficiency. But governments often barely grasp the value locked up in them. The picture is clearest for companies or company-like entities held by central governments. According to data compiled by the OECD and published on its website, its 34 member countries had 2,111 fully or majority-owned SOEs, with 5.9m employees, at the end of 2012. Their combined value (allowing for some but not all pension-fund liabilities) is estimated at $2.2 trillion, roughly the same size as the global hedge-fund industry. Most are in network industries such as telecoms, electricity and transport. In addition, many countries have large minority stakes in listed firms. Those in which they hold a stake of between 10% and 50% have a combined market value of $890 billion and employ 2.9m people. The data are far from perfect. The quality of reporting varies widely, as do definitions of what counts as a state-owned company: most include only centralgovernment holdings. If all assets held at sub-national level, such as local water companies, were included, the total value could be more than $4 trillion. Reckons Hans Christiansen, an OECD economist. Moreover, his team has had to extrapolate because some QECD members, including America and Japan, provide patchy data. America is apparently so queasy about discussions of public ownership of -commercial assets that the Treasury takes no part in the OECD’s working group on the issue, even though it has vast holdings, from Amtrak and the 520,000-employee Postal Service to power generators and airports. The club’s efforts to calculate the value that SOEs add to, or subtract from, economies were abandoned after several countries, including America, refused to co-operate. Privatisation has begun picking up again recently in the OECD for a variety of reasons. Britain’s Conservative-led coalition is fbcused on (some would say obsessed with) reducing the public debt-to-GDP ratio. Having recently sold the Royal Mail through a public offering, it is hoping to offload other assets, including its stake in URENCO, a uranium enricher, and its student-loan portfolio. From January 8th, under a new Treasury scheme, members of the public and businesses will be allowed to buy government land and buildings on the open market. A website will shortly be set up to help potential buyers see which bits of the government’s /..337 billion-worth of holdings ($527 billion at today’s rate, accounting for 40% of developable sites round Britain) might be surplus. The government, said the chief treasury secretary, Danny Alexander, “should not act as some kind of compulsive hoarder”. Japan has different reasons to revive sell-offs, such as to finance reconstruction after its devastating earthquake and tsunami in 2011. Eyes are once again turning to Japan Post, a giant postal-to-financial-services conglomerate whose oftpostponed partial sale could at last happen in 2015 and raise (Yen) 4 trillion ($40 billion) or more. Australia wants to sell financial, postal and aviation assets to offset the fall in revenues caused by the commodities slowdown. In almost all the countries of Europe, privatisation is likely “to surprise on the upside” as long as markets continue to mend, reckons Mr Megginson. Mr Christiansen expects to see three main areas of activity in coming years. First will be the resumption of partial sell-offs in industries such as telecoms, transport and utilities. Many residual stakes in partly privatised firms could be sold down further. France, for instance, still has hefty stakes in GDF SUEZ, Renault, Thales and Orange. The government of Francois Hollande may be ideologically opposed to privatisation, but it is hoping to reduce industrial stakes to raise funds for livelier sectors, such as broadband and health. The second area of growth should be in eastern Europe, where hundreds of large firms, including manufacturers, remain in state hands. Poland will sell down its stakes in listed firms to make up for an expected reduction in EU structural funds. And the third area is the reprivatisation of financial institutions rescued during the crisis. This process is under way: the largest privatisation in 2012 was the $18 billion offering of America’s residual stake in AIG, an insurance company.Which of the following statements is not true in the context of the given passage ?
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MCQ-> Read carefully the four passages that follow and answer the questions given at the end of each passage:PASSAGE I The most important task is revitalizing the institution of independent directors. The independent directors of a company should be faithful fiduciaries protecting, the long-term interests of shareholders while ensuring fairness to employees, investor, customer, regulators, the government of the land and society. Unfortunately, very often, directors are chosen based of friendship and, sadly, pliability. Today, unfortunately, in the majority of cases, independence is only true on paper.The need of the hour is to strengthen the independence of the board. We have to put in place stringent standards for the independence of directors. The board should adopt global standards for director-independence, and should disclose how each independent director meets these standards. It is desirable to have a comprehensive report showing the names of the company employees of fellow board members who are related to each director on the board. This report should accompany the annual report of all listed companies. Another important step is to regularly assess the board members for performance. The assessment should focus on issues like competence, preparation, participation and contribution. Ideally, this evaluation should be performed by a third party. Underperforming directors should be allowed to leave at the end of their term in a gentle manner so that they do not lose face. Rather than being the rubber stamp of a company’s management policies, the board should become a true active partner of the management. For this, independent directors should be trained in their in their in roles and responsibilities. Independent directors should be trained on the business model and risk model of the company, on the governance practices, and the responsibilities of various committees of the board of the company. The board members should interact frequently with executives to understand operational issues. As part of the board meeting agenda, the independent directors should have a meeting among themselves without the management being present. The independent board members should periodically review the performance of the company’s CEO, the internal directors and the senior management. This has to be based on clearly defined objective criteria, and these criteria should be known to the CEO and other executive directors well before the start of the evolution period. Moreover, there should be a clearly laid down procedure for communicating the board’s review to the CEO and his/her team of executive directors. Managerial remuneration should be based on such reviews. Additionally, senior management compensation should be determined by the board in a manner that is fair to all stakeholders. We have to look at three important criteria in deciding managerial remuneration-fairness accountability and transparency. Fairness of compensation is determined by how employees and investors react to the compensation of the CEO. Accountability is enhanced by splitting the total compensation into a small fixed component and a large variable component. In other words, the CEO, other executive directors and the senior management should rise or fall with the fortunes of the company. The variable component should be linked to achieving the long-term objectives of the firm. Senior management compensation should be reviewed by the compensation committee of the board consisting of only the independent directors. This should be approved by the shareholders. It is important that no member of the internal management has a say in the compensation of the CEO, the internal board members or the senior management. The SEBI regulations and the CII code of conduct have been very helpful in enhancing the level of accountability of independent directors. The independent directors should decide voluntarily how they want to contribute to the company. Their performance should decide voluntarily how they want to contribute to the company. Their performance should be appraised through a peer evaluation process. Ideally, the compensation committee should decide on the compensation of each independent director based on such a performance appraisal. Auditing is another major area that needs reforms for effective corporate governance. An audit is the Independent examination of financial transactions of any entity to provide assurance to shareholder and other stakeholders that the financial statements are free of material misstatement. Auditors are qualified professionals appointed by the shareholders to report on the reliability of financial statements prepared by the management. Financial markets look to the auditor’s report for an independent opinion on the financial and risk situation of a company. We have to separate such auditing form other services. For a truly independent opinion, the auditing firm should not provide services that are perceived to be materially in conflict with the role of the auditor. These include investigations, consulting advice, sub contraction of operational activities normally undertaken by the management, due diligence on potential acquisitions or investments, advice on deal structuring, designing/implementing IT systems, bookkeeping, valuations and executive recruitment. Any departure from this practice should be approved by the audit committee in advance. Further, information on any such exceptions must be disclosed in the company’s quarterly and annual reports. To ensure the integrity of the audit team, it is desirable to rotate auditor partners. The lead audit partner and the audit partner responsible for reviewing a company’s audit must be rotated at least once every three to five years. This eliminates the possibility of the lead auditor and the company management getting into the kind of close, cozy relationship that results in lower objectivity in audit opinions. Further, a registered auditor should not audit a chief accounting office was associated with the auditing firm. It is best that members of the audit teams are prohibited from taking up employment in the audited corporations for at least a year after they have stopped being members of the audit team.A competent audit committee is essential to effectively oversee the financial accounting and reporting process. Hence, each member of the audit committee must be ‘financially literate’, further, at least one member of the audit committee, preferably the chairman, should be a financial expert-a person who has an understanding of financial statements and accounting rules, and has experience in auditing. The audit committee should establish procedures for the treatment of complaints received through anonymous submission by employees and whistleblowers. These complaints may be regarding questionable accounting or auditing issues, any harassment to an employee or any unethical practice in the company. The whistleblowers must be protected. Any related-party transaction should require prior approval by the audit committee, the full board and the shareholders if it is material. Related parties are those that are able to control or exercise significant influence. These include; parent- subsidiary relationships; entities under common control; individuals who, through ownership, have significant influence over the enterprise and close members of their families; and dey management personnel.Accounting standards provide a framework for preparation and presentation of financial statements and assist auditors in forming an opinion on the financial statements. However, today, accounting standards are issued by bodies comprising primarily of accountants. Therefore, accounting standards do not always keep pace with changes in the business environment. Hence, the accounting standards-setting body should include members drawn from the industry, the profession and regulatory bodies. This body should be independently funded. Currently, an independent oversight of the accounting profession does not exist. Hence, an independent body should be constituted to oversee the functioning of auditors for Independence, the quality of audit and professional competence. This body should comprise a "majority of non- practicing accountants to ensure independent oversight. To avoid any bias, the chairman of this body should not have practiced as an accountant during the preceding five years. Auditors of all public companies must register with this body. It should enforce compliance with the laws by auditors and should mandate that auditors must maintain audit working papers for at least seven years.To ensure the materiality of information, the CEO and CFO of the company should certify annual and quarterly reports. They should certify that the information in the reports fairly presents the financial condition and results of operations of the company, and that all material facts have been disclosed. Further, CEOs and CFOs should certify that they have established internal controls to ensure that all information relating to the operations of the company is freely available to the auditors and the audit committee. They should also certify that they have evaluated the effectiveness of these controls within ninety days prior to the report. False certifications by the CEO and CFO should be subject to significant criminal penalties (fines and imprisonment, if willful and knowing). If a company is required to restate its reports due to material non-compliance with the laws, the CEO and CFO must face severe punishment including loss of job and forfeiting bonuses or equity-based compensation received during the twelve months following the filing.The problem with the independent directors has been that: I. Their selection has been based upon their compatibility with the company management II. There has been lack of proper training and development to improve their skill set III. Their independent views have often come in conflict with the views of company management. This has hindered the company’s decision-making process IV. Stringent standards for independent directors have been lacking...
MCQ-> Read the following passage carefully and answer the questions given below it. Certain words are given in bold to help you answer some of the questions.At the heart of what makes India a better regime than China is a healthy respect for the civil rights and liberties of its citizens. There are checks and balances in our government. But India’s new surveillance programme, the Central Monitoring system (CMS), resembles a dystopian society akin to George Orwell’s 1984.According to several news reports, the CMS gives the government, Indian security agencies and income tax (IT) officials the authority to listen to, and tape phone conversions, read emails and text messages, monitor Posts on Facebook, Twitter or Linkedin and track searches on Google of selected targets, without oversight by the courts or parliament. To call it sweeping is an understatement.Typically, Indian Security agencies need a court order for surveillance, or depend on Internet/telephone service providers for data, provided they supply a warrant. CMS allows the government to bypass the court.  Milind Deora, India’s Minister of State for Information Technology says the new system will actually improve citizens’ privacy because telecommunication agencies would no longer be directly involved in the surveillance; only government officials would have these details – missing the point that in a democracy, there has to be freedom from government surveillance. This is hardly comforting in a nation riddled with governmental corruption.India does not have a privacy law. CMS will operate under the Indian Telegraph Act (ITA). The ITA is a relic of the British Raj from 1885, and gives the government the freedom to monitor private conversations. News reports quote anonymous telecommunications ministry officials as saying that CMS has been introduced for security purposes, and “this is to protect you and your country”.That is irrational. For one, there are no ‘security purposes’ that prevent the government from having a rational debate on this programme and getting approval from our elected representatives before authorizing such wide-reaching surveillance. If the government is worried that a public debate in a paralysed parliament would half the programme’s progress, then it can convene a committee of individuals or an individual body such as CAG to oversee the programme. It can seek judicial approval from the Supreme Court, and have a judge sign off on surveillance requests without making these requests public.As of now, the top bureaucrat in the interior ministry and his/her state level deputies will have the power to approve surveillance requests. Even the recently revealed US surveillance Programme, had ‘behind the doors’ bipartisan surveillance approval. Furthermore, US investigation agencies such as the CIA and NSA are not the ruling party’s marionettes; in India, that the CBI is an arm of the government is a fait accompli. Even the Supreme Court recently lambasted the CBI and asked it to guarantee its independence from government influences after it was proved that it shared unreleased investigation reports with the government.There is no guarantee that this top bureaucrat will be judicious or not use this as a tool to pursue political and personal vendettas against opposition parties or open critics of the government. Security purposes hardly justify monitoring an individual’s social media usage. No terrorist announces plans to bomb a building on Facebook. Neither do Maoists espouse Twitter as their preferred form of communication.Presumably, security purposes could be defined as the government’s need to intercept terrorist plans. How does giving the IT department the same sweeping surveillance powers justify security purposes? The IT office already has expansive powers to conduct investigations, summon individuals or company executives, and raid premises to catch tax evaders. In a world where most financial details are discussed and transferred online, allowing the IT departments to snoop on these without any reasonable cause is akin to airport authorities strip searching everyone who boards a flight.What happened on 26/11 or what happens regularly in Naxal – affected areas is extremely sad and should ideally, never take place again. But targeting terrorists means targeting people who show such inclinations, or those who arouse suspicions, either by their travels or heir associations with militant or extremist groups. And in a country where a teenager has been arrested for posting an innocent comment questioning the need for a bandh on the death of a political leader, gives us reason to believe that this law is most likely to be misused, if not abused. Select the word which is MOST OPPOSITE in meaning to the word printed in bold, as used in the passage. AKIN...
MCQ-> Every age has its pet contradictions. A few decades back, we used to accept Marx and Freud together, and then wonder, like the chameleon on the turkey carpet, why life was so confusing. Today there is similar trouble over the question whether there is, or is not, something called Human Nature. On the one hand, there has been an explosion of animal behavior studies, and comparisons between animals and men have become immensely popular. People use evidence from animals to decide whether man is naturally aggressive, or naturally territorial; even whether he has an aggressive or territorial instinct. Moreover, we are still much influenced by Freudian psychology, which depends on the notion of instinct. On the other hand, many still hold what may be called the Blank Paper view, that man is a creature entirely without instincts. So do Existentialist philosophers. If man has no instincts, all comparison with animals must be irrelevant. (Both these simple party lines have been somewhat eroded over time, but both are still extremely influential.)According to the Blank Paper view, man is entirely the product of his culture. He starts off infinitely plastic, and is formed completely by the society in which he grows up. There is then no end to the possible variations among cultures; what we take to be human instincts are just the deep-dug prejudices of our own society. Forming families, fearing the dark, and jumping at the sight of a spider are just results of our conditioning. Existentialism at first appears a very different standpoint, because the Existentialist asserts man’s freedom and will not let him call himself a product of anything. But Existentialism too denies that man has a nature; if he had, his freedom would not be complete. Thus Sartre insisted that “there is no human nature …. Man first of all exists, encounters himself, surges up in the world, and defines himself afterwards. If man as the Existentialist sees him is not definable, it is because to begin with he is nothing. He will not be anything until later, and then he will be what he makes himself.” For Existentialism there is only the human condition, which is what happens to man and not what he is born like. If we are afraid of the dark, it is because we choose to be cowards; if we care more for our own children than for other people’s, it is because we choose to be partial. We must never talk about human nature or human instincts. This implicit moral notion is still very influential, not at all confined to those who use the metaphysic of essence and existence. So I shall sometimes speak of it, not as Existentialist, but as Libertarian ― meaning that those holding it do not just (like all of us) think liberty important, but think it supremely important and believe that our having a nature would infringe it.Philosophers have not yet made much use of informed comparison with other species as a help in the understanding of man. One reason they have not is undoubtedly the fear of fatalism. Another is the appalling way terms such as instinct and human nature have been misused in the past. A third is the absurdity of some ethological propaganda.A business school led by an existentialist director, wanted to decide on admission policy for its executive MBA program, which requires candidates to possess minimum five years of managerial experience.With respect to the selection process, which of the following statements will be closest to the director’s belief:
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MCQ-> Read the following passage carefully and answer the question given below it. Certain words are printed in bold to help you to locate them while answering some of the question.Once upon a time in a village, there lived six blind men. In spite of their blindness they had managed to educate themselves Seeking to expand their knowledge they decided to visit a zoo and try out their skills in recognizing animals by their touch. The first animal they came across, as soon as they entered the zoo was an elephant.As the first man approched the elephant, the elephant waved its trunk, and the man felt something brush past him. Managing to hold on to it, and found something long and moving. He jumped back in alarm, shouting "Move away ! This is a snake !" Meanwhile ,the second man had moved closer, and walked right near its legs. As the man touched the thick, cylindrical¬shaped legs, he called out "Do not worry. These are just four trees here. There is acertainly no snake !" The third man was curious hearing the other two, and moved forward. As he walked towards the elephant, he felt his hand touch one of the tusks. Feeling the smooth, sharp ivory tusk, the man cried out " Be careful ! There is a sharp spear here". The fourth man cautiously walked up behind the elephant and felt its swinging tail. "It's just a rope ! he said. The fifth man had meanwhile reached out and was touching the huge ears of the animal. "I think all of you have lost your sense of touch !" he said. "This is nothing but a huge fan!" The sixth man did not want to be left out. As he walked towards the elephant, he bumped into the massive body, and he exclaimed, "Hey ! This is just a huge mud wall ! There is no animal at all !" All six of them were convinced that they were right, and began arguing amongst themselves.The zoo keeper returned to the elephant and saw each of them shouting at the top of their voice ! "Quiet" he shouted out and when they had calmed down, he asked, "Why are all of you shouting and arguing in this manner ?" They replied, "sir, as you can see, we all are blind. We came here to expand our knowledge. We sensed an animal here and tried to get an idea of its appearance by feeling it. However, we are not able to arrive at a consensus over its appearance, and hence are arguing. Can you please help us and tell us which of us is right" ?The zoo keeper laughed before answering "My dear men, each of you has touched just one portion of the animal. The animal you see is neither a snake, nor any of other things you have mentioned. The animal in front on you is an elephant !" As the men, bowed their head ashamed of the scence they had created, the zoo keeper said, "My dear men, this is a huge animal and luckily, it is tame. It stood by calmly as each of you touched it. You are extremely lucky that it stayed calm even during your argument, for if it had got angry, it would have trampled all of you to death !" He continued further , "It is also important to learn to share and pool your knowledge .Instead of fighting amongst yourselves, if you had tried to put all your observations together, you might have had an idea of the animal as a whole ! Also, when you cannot see the entire truth, it is better to go to someone who does know the complete truth, rather than guess about small parts of it. Such half¬knowledge is not only useless, but also dangerous. If you had come directly to me, I would have helped you identify all the animals without putting you in danger !" The six men apologized to the zoo keeper, and assured him that they had learnt their lesson. From now on they would seek true knowledge from qualified people, and would seek true knowledge from qualified people, and would also try to work together as a team so that they could learn moreWhich part of the elephant resembled a big fan ?
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