As per the ................ norms that remain unchanged, firms will have to .............. the sourcing norms from the time of opening of the first store. ?->(Show Answer!)

1. As per the ................ norms that remain unchanged, firms will have to .............. the sourcing norms from the time of opening of the first store.

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By: anil on 05 May 2019 02.23 pm

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By: anil on 05 May 2019 01.29 am

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MCQ->As per the ................ norms that remain unchanged, firms will have to .............. the sourcing norms from the time of opening of the first store.....

MCQ-> Read the following case-let and answer the questions that follow Rajinder Singh was 32 years old from the small town of Bhathinda, Punjab. Most of the families living there had middle class incomes, with about 10% of the population living below the poverty level. The population consisted of 10 percent small traders, 30 percent farmers, besides others. Rajinder liked growing up in Bhathinda, where people knew and cared about each other. Even as a youngster it was clear that Rajinder was smart and ambitious. Neighbors would often say, “Someday you’re going to make us proud!” He always had a job growing up at Singh’s General Store - Uncle Balwant’s store. Balwant was a well-intentioned person. Rajinder loved being at the store and not just because Balwant paid him well. He liked helping customers, most of who were known by the nicknames. Setting up displays and changing the merchandise for different seasons and holidays was always exciting. Uncle Balwant had one child and off late, his interest in business had declined. But he had taught Rajinder ‘the ins and outs of retailing’. He had taught Rajinder everything, including ordering merchandise, putting on a sale, customer relations, and keeping the books. The best part about working at the store was Balwant himself. Balwant loved the store as much as Rajinder did. Balwant had set up the store with a mission to make sure his neighbors got everything they needed at a fair price. He carried a wide variety of goods, based on the needs of the community. If you needed a snow shovel or piece of jewelry for your wife, it was no problem - Singh’s had it all. Rajinder was impressed by Balwant’s way of handling and caring for customers. If somebody was going through “hard times”, Balwant somehow knew it. When they came into the store, Balwant would make them feel comfortable, and say something like, “you know Jaswant, let’s put everything on credit today”. This kind of generosity made it easy to understand why Balwant was loved and respected throughout the community. Rajinder grew up and went to school and college in Bhathinda. Later on, he made it to an MBA program in Delhi. Rajinder did well in the MBA course and was goal oriented. After first year of his MBA, the career advisor and Balwant advised Rajinder for an internship at Bigmart. That summer, Rajinder was amazed by the breadth and comprehensiveness of the internship experience. Rajinder got inspired by the life story of the founder of Bigmart, and the value the founder held. Bigmart was one of the best companies in the world. The people that Rajinder worked for at Bigmart during the internship noticed Rajinder’s work ethic, knowledge, and enthusiasm for the business. Before the summer ended, Rajinder had been offered a job as a Management Trainee by Bigmart, to start upon graduation. Balwant was happy to see Rajinder succeed. Even for Rajinder, this was a dream job - holding the opportunity to move up the ranks in a big company. Rajinder did indeed move up the ranks quickly, from management trainee, to assistant store manager, to supervising manager of three stores, to the present position - Real Estate Manager, North India. This job involved locating new sites within targeted locations and community relations. One day Rajinder was eagerly looking forward to the next assignment. When he received email for the same, his world came crashing down. He was asked to identify next site in Bhathinda. It was not that Rajinder didn’t believe in Bigmart’s explanation. What was printed in the popular press,especially the business press, only reinforced Rajinder’s belief in Bigmart. An executive viewed as one of the wisest business persons in the world was quoted as saying, “Bigmart had been a major force in improving the quality of life for the average consumer around the world offering great prices on good, giving them one stop solution for almost everything.” Many big farmers also benefitted through low prices, as middlemen were removed. At the same time, Rajinder knew that opening a new Bigmart could disrupt small business in Bhathinda. Some local stores in small towns went out of business within a year of the Bigmart’s opening. In Bhathinda, one of the local stores Singh’s,now run by Balwant’s son, although Balwant still came in every day to “straighten out the merchandise.” As Rajinder thought about this assignment, depression set in, and the nightmares followed. Rajinder was frozen in time and space. Rajinder’s nightmares involved Balwant screaming something- although Rajinder could not make out what Balwant was saying. This especially troubled Rajinder, since Balwant never raised his voice. Rajinder didn’t know what to do - who might be helpful? Rajinder’s spouse, who was a housewife? Maybe talking it through could lead to some positive course of action. Rajinder’s boss?Would Bigmart understand? Could Rajinder really disclose the conflict without fear? Uncle Balwant? Should Rajinder really disclose the situation and ask for advise? He wanted a solution that would make all satkeholders happy.Who is the best person for Rajinder to talk to?
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MCQ-> Read the following passage carefully and answer the questions given at the end. When Ratan Tata moved the Supreme Court, claiming his right to privacy had been violated, he called Harish Salve. The choice was not surprising. The former solicitor general had been topping the legal charts ever since he scripted a surprising win for Mukesh Ambani against his brother Anil. That dispute set the gold standard for legal fees. On Mukesh’s side were Salve, Rohinton Nariman, and Abhishek Manu Singhvi. The younger brother had an equally formidable line-up led by Ram Jethmalani and Mukul Rohatgi.The dispute dated back three-and-a-half years to when Anil filed case against his brother for reneging on an agreement to supply 28 million cubic metres of gas per day from its Krishna-Godavari basin fields at a rate of $ 2.34 for 17 years. The average legal fee was Rs. 25 lakh for a full day's appearance, not to mention the overnight stays at Mumbai's five-star suites, business class travel, and on occasion, use of the private jet. Little wonder though that Salve agreed to take on Tata’s case pro bono. He could afford philanthropy with one of India’s wealthiest tycoons.The lawyers’ fees alone, at a conservative estimate, must have cost the Ambanis at least Rs. 15 crore each. Both the brothers had booked their legal teams in the same hotel, first the Oberoi and, after the 26/ ll Mumbai attacks, the Trident. lt’s not the essentials as much as the frills that raise eyebrows. The veteran Jethmalani is surprisingly the most modest in his fees since he does not charge rates according to the strength of the client's purse. But as the crises have multiplied, lawyers‘fees have exploded.The 50 court hearings in the Haldia Petrochemicals vs. the West Bengal Government cost the former a total of Rs. 25 crore in lawyer fees and the 20 hearings in the Bombay Mill Case, which dragged on for three years, cost the mill owners almost Rs. 10 crore. Large corporate firms, which engage star counsels on behalf of the client, also need to know their quirks. For instance, Salve will only accept the first brief. He will never be the second counsel in a case. Some lawyers prefer to be paid partly in cash but the best are content with cheques. Some expect the client not to blink while picking up a dinner tab of Rs. 1.75 lakh at a Chennai five star. A lawyer is known to carry his home linen and curtains with him while travelling on work. A firm may even have to pick up a hot Vertu phone of the moment or a Jaeger-LeCoutre watch of the hour to keep a lawyer in good humour.Some are even paid to not appear at all for the other side - Aryama Sundaram was retained by Anil Ambani in the gas feud but he did not fight the case. Or take Raytheon when it was fighting the Jindals. Raytheon had paid seven top lawyers a retainer fee of Rs. 2.5 lakh each just to ensure that the Jindals would not be able to make a proper case on a taxation issue. They miscalculated when a star lawyer fought the case at the last minute. “I don’t take negative retainers”, shrugs Rohatgi, former additional solicitor general. “A Lawyer’s job is to appear for any client that comes to him. lt’s not for the lawyers to judge if a client is good or bad but the court”. Indeed. He is, after all, the lawyer who argued so famously in court that B. Ramalinga Raju did not ‘fudge any account in the Satyam Case. All he did was “window dressing”.Some high profile cases have continued for years, providing a steady source of income, from the Scindia succession battle which dates to 1989, to the JetLite Sahara battle now in taxation arbitration to the BCCI which is currently in litigation with Lalit Modi, Rajasthan Royals and Kings XI Punjab.Think of the large law firms as the big Hollywood studios and the senior counsel as the superstar. There are a few familiar faces to be found in most of the big ticket cases, whether it is the Ambani gas case, Vodafone taxation or Bombay Mills case. Explains Salve, “There is a reason why we have more than one senior advocate on a case. When you're arguing, he’s reading the court. He picks up a point or a vibe that you may have missed.” Says Rajan Karanjawala, whose firm has prepared the briefs for cases ranging from the Tata's recent right to privacy case to Karisma Kapoor’s divorce, “The four jewels in the crown today are Salve, Rohatgi, Rohinton Nariman and Singhvi. They have replaced the old guard of Fali Nariman, Soli Sorabjee, Ashok Desai and K.K. Venugopal.” He adds, “The one person who defies the generational gap is Jethmalani who was India's leading criminal lawyer in the 1960s and is so today.”The demand for superstar lawyers has far outstripped the supply. So a one-man show by, say, Rohatgi can run up billings of Rs. 40 crore, the same as a mid-sized corporate law firm like Titus and Co that employs 28 juniors. The big law filik such as AZB or Amarchand & Mangaldas or Luthra & Luthra have to do all the groundwork for the counsel, from humouring the clerk to ensure the A-lister turns up on the hearing day to sourcing appropriate foreign judgments in emerging areas such as environmental and patent laws. “We are partners in this. There are so few lawyers and so many matters,” points out Diljeet Titus.As the trust between individuals has broken down, governments have questioned corporates and corporates are questioning each other, and an array of new issues has come up. The courts have become stronger. “The lawyer,” says Sundaram, with the flourish that has seen him pick up many Dhurandhares and Senakas at pricey art auctions, “has emerged as the modern day purohit.” Each purohit is head priest of a particular style. Says Karanjawala, “Harish is the closest example in today's bar to Fali Nariman; Rohinton has the best law library in his brain; Mukul is easily India's busiest lawyer while Manu Singhvi is the greatest multi-tasker.” Salve has managed a fine balancing act where he has represented Mulayam Singh Yadav and Mayawati, Parkash Singh Badal and Amarinder Singh, Lalit Modi and Subhash Chandra and even the Ambani brothers, of course in different cases. Jethmalani is the man to call for anyone in trouble. In judicial circles he is known as the first resort for the last resort. Even Jethmalani’s junior Satish Maneshinde, who came to Mumbai in I993 as a penniless law graduate from Karnataka, shot to fame (and wealth) after he got bail for Sanjay Dutt in 1996. Now he owns a plush office in Worli and has become a one-stop shop for celebrities in trouble.Which of the following is not true about Ram Jethmalani?
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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 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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