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Two statements are followed by three Conclusions I, II and III. You have to consider the statements to be true, even if they seem to be at variance from commonly known facts. You are to decide which of the given conclusions can definitely be drawn from the given statements and indicate your answer accordingly. Statements: I. Fraud-hit Punjab National (PNB) today said it has no plans to close operations at its Brady House branch, the fountainhead of the Rs. 14,000 crore Nirav Modi scam. II. Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB of about Rs. 14,000 crore through issuance of fraudulent Letters of Undertaking (LoUs).  Conclusions: I. PNB's Brady House branch in Mumbai had fraudulently issued LoUs for the group of companies belonging to Nirav Modi since March 2011. PNB has no plans to close operations in the Brady House branch in Mumbai. II. Reallocation of some of the accounts is part of the regular restructuring process at PNB to strengthen internal systems and processes and centralize certain critical functions  III. With regards to provision made for the loss incurred on account of the Nirav Modi fraud, the bank provided Rs. 7,178 crore, 50 per cent of the total amount of Rs. 14,356 crore, in the fourth quarter of 2017-18. The remaining amount will be covered in the three quarters of the current fiscal year.

Two statements are followed by three Conclusions I, II and III. You have to consider the statements to be true, even if they seem to be at variance from commonly known facts. You are to decide which of the given conclusions can definitely be drawn from the given statements and indicate your answer accordingly. Statements: I. Fraud-hit Punjab National (PNB) today said it has no plans to close operations at its Brady House branch, the fountainhead of the Rs. 14,000 crore Nirav Modi scam. II. Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB of about Rs. 14,000 crore through issuance of fraudulent Letters of Undertaking (LoUs).  Conclusions: I. PNB's Brady House branch in Mumbai had fraudulently issued LoUs for the group of companies belonging to Nirav Modi since March 2011. PNB has no plans to close operations in the Brady House branch in Mumbai. II. Reallocation of some of the accounts is part of the regular restructuring process at PNB to strengthen internal systems and processes and centralize certain critical functions  III. With regards to provision made for the loss incurred on account of the Nirav Modi fraud, the bank provided Rs. 7,178 crore, 50 per cent of the total amount of Rs. 14,356 crore, in the fourth quarter of 2017-18. The remaining amount will be covered in the three quarters of the current fiscal year. Correct Answer Only conclusion 1 follows

The correct answer is option 2, i.e. Only conclusion 1 follows.

In this type of question, conclusion is not specifically mentioned. It needs to be deduced from the given statements.

From both the statements, we infer that Nirav Modi and his uncle, Mehul Choksi cheated PNB with the fraudulent Letters of Undertaking (LoUs) and the bank is planning to close down its Brady House branch in Mumbai, which is mostly responsible for issuing the fraudulent LoUs. From the conclusions mentioned, the first is the most appropriate conclusion. The second and the third conclusions can be rejected as they state the plans that might be adopted but no such evidence regarding their existence or implementation is stated in the given set of statements, thus, they are irrelevant with the given context. As only the first conclusion is relevant, we can mark the most appropriate answer choice as option 2 and rest of the options can be rejected.

Related Questions

Re-arrange the following sentences into a meaningful paragraph. (A) comes into effect from today. The bank's savings account rate was 3.5 per cent during March 2003 to May 2011 for all savings bank account customers (B) The bank's decision comes two days ahead of RBI's monetary policy meet and is likely to trigger (C) with deposits of above Rs 1 crore, it said in a statement. The two-tier savings bank account interest rate (D) to 3.5 per cent, lowest in six years, a decision that will impact 90 per cent of its customers (E) The country's largest lender however will continue to pay 4 per cent interest on savings bank accounts (F) SBI today cut interest rate on savings bank account deposits up to Rs 1 crore by 0.5 per cent (G) rate war among peers. SBI's savings bank account base is of around Rs 9 lakh crore.
Statement: The Indian High Commission in Antigua and Barbuda had asked the authorities there to stop billionaire diamond trader Mehul Choksi from travelling around the world, sources said on Monday. Inference: I. All billionaire diamond traders should immediately stop travelling to Antigua and Barbuda for the time being. II. Mehul Choksi should seek asylum in some other country to avoid being caught. III. The Indian High Commissioner should himself go and arrest Mehul Choksi.
Two statements are followed by three Conclusions I, II and III. You have to consider the statements to be true, even if they seem to be at variance from commonly known facts. You are to decide which of the given conclusions can definitely be drawn from the given statements and indicate your answer accordingly. Statements: I. Milk supply in Maharashtra was badly hit after thousands of dairy farmers launched a protest on Monday, demanding better price and subsidy of Rs 5 per litre. Tankers supplying milk to major cities including Mumbai, Pune, Nagpur, Nashik and others were blocked early morning leading to sudden crisis.  II. The agriculture ministry had mooted a proposal asking railways to make milk available at railway stations and at the meeting, sources said representatives from Amul India suggested that the national transporter could provide stalls to dairy companies or cooperatives where they could sell their products.  Conclusions: I. Representatives of Amul India and food safety body FSSAI are willing to discuss issues and concerns of the dairy sector in the backdrop of the farmers agitation in Maharashtra that had led to severe shortage of milk in the state.  II. The farmers' groups and Maharashtra Kisan Sabha, are demanding a GST waiver on butter and milk powder apart from the subsidy. III. Railways is drawing up a plan to make milk available at railway stations across the country to promote its consumption.
Two statements are followed by three Conclusions I, II and III. You have to consider the statements to be true, even if they seem to be at variance from commonly known facts. You are to decide which of the given conclusions can definitely be drawn from the given statements and indicate your answer accordingly. Statements: I. One of the biggest acquisitions in the Indian patient-care industry, the Rs. 4,500-crore Fortis-IHH deal could intensify competitive intensity in the space, with declines Friday in the shares of Apollo Hospitals, Healthcare Global, Max India and Narayana Hrudayalaya pointing to potential challenges for the incumbents.  II. After the completion of the deal, the IHH-Fortis group of hospitals will be among the biggest in the country, competing directly with some of the large listed hospital chains. The BSE Healthcare index also fell Friday, with hospital stocks at the vanguard of the downward journey.  Conclusions: I. Hospitals will be challenged as they will have to face someone like IHH, which has deep pockets and will be going into markets where they are present. II. Shares of Apollo, currently the largest hospital chain in India, fell more than 2%, closing at Rs. 975, followed by Max India that lost by 2.40%. III. Both are direct competitors of Fortis, Narayana and Healthcare Global also fell after the buyout announcement.
Two statements are followed by three Conclusions I, II and III. You have to consider the statements to be true, even if they seem to be at variance from commonly known facts. You are to decide which of the given conclusions can definitely be drawn from the given statements and indicate your answer accordingly. Statements: I. Political parties that opposed simultaneous polls before the Law Commission mostly cited federalism, Constitution and impracticability for their opposition, but Goa Forward Party chose coconuts to drive home its point against the proposal of ‘One Nation, One Election'. II. The regional party that is part of the BJP-led Goa government cited coconut, its party symbol, to argue that regional issues will go unaddressed in the noise of simultaneous polls. Conclusions: I. To buttress its reasoning, Goa Forward Party representative cited the party's history and struggle in protesting against cutting down of coconut trees in Goa before it came to power with ally BJP in March 2017. II. The party had protested against the BJP government's decision to amend rules to simplify the procedure of cutting down coconut trees by removing it from the list of trees. III. The commission held talks with political parties on the proposal of simultaneous elections.
Two statements are followed by three Conclusions I, II and III. You have to consider the statements to be true, even if they seem to be at variance from commonly known facts. You are to decide which of the given conclusions can definitely be drawn from the given statements and indicate your answer accordingly. Statements: I. After a Pay Commission bonanza of 2% hike in dearness allowance in March, central government employees and pensioners can expect another round of salary increase with the government set to modify the index and base year for calculating dearness allowance.  II. The labour ministry is working on a new series of consumer price index for industrial workers (CPI-IW), which is used to determine dearness allowance (DA).  Conclusions: I. DA is a cost of living adjustment allowance paid to government employees, public sector employees and pensioners in the country. It is calculated as a percentage of an employee’s basic salary to mitigate the impact of inflation on people.  II. Since theindex is used to determine dearness allowance of all government employees and industrial workers there may be significant financial implication. III. The trend so far is that the weightage of transport, healthcare and housing has gone up many fold in the new series in the monthly expenditure of an industrial worker, especially consumption of petrol and diesel with the addition of cars to it, while there is decline in overall food basket which is being diversified.
In the question below are given three statements followed by three conclusions numbered I, II and III. You have to take the given statements to be true even if they seem to be at variance with commonly known facts. Read all the conclusions and then decide which of the given conclusions logically follows from the given statements disregarding commonly known facts. Statements: I. Few holders are share II. Only a few accounts are bank III. No bank is share Conclusions: I. All share can be holders II. Some bank is not share III. Some accounts are not bank is a possibility
Two statements are followed by three Conclusions I, II and III. You have to consider the statements to be true, even if they seem to be at variance from commonly known facts. You are to decide which of the given conclusions can definitely be drawn from the given statements and indicate your answer accordingly. Statements: I. Mukesh Ambani overtook Alibaba Group founder Jack Ma to become Asia’s richest person as he positions Reliance Industries Ltd. to disrupt the e-commerce space in India.  II. The chairman of India’s refining-to-telecoms conglomerate, Ambani was estimated to be worth $44.3 billion on Friday with Reliance Industries Ltd. rising 1.6 percent to a record 1,099.8 rupees. Conclusions: I. Ambani, best known for executing large-scale projects, spearheaded construction of the world’s largest refining complex in Jamnagar, owns the most-widespread mobile data network globally and claims to have India’s biggest as well as most-profitable retail firm.  II. Jio is the driver behind the surge in Reliance. Jio will introduce a fiber-based broadband service across 1,100 Indian cities in August in what Ambani said would be the biggest greenfield fixed-line rollout anywhere in the world.  III. If the company is going to double profit a few years down the line, the stock price is also likely to increase.
In each of the following question below are given some statements followed by some conclusion, Taking the given statements to be true even if they seem to be at variance from commonly known facts, read all the conclusions and then decide which of the given conclusion logically follows the given statements, seem to be at variance from commonly known facts, read all the conclusions and then decide which of the given conclusion logically follows the given statements, Statements: I. All pages are yellow. II. All yellow are newspapers. III. Some newspapers are national. Conclusions: I. Some national are yellow II. Some newspapers are pages. III. No page is national.
In the question below are given four statements followed by two conclusions numbered I and II. You have to take the given statements to be true even if they seem to be at variance with commonly known facts. Read all the conclusions and then decide which of the given conclusions logically follows from the given statements disregarding commonly known facts. Statements: All Woman are Man. Some Woman are March. All March are April. No March is Sunday. Conclusions: I. Some Woman are April. II. Some March are Man. III. Some April are Sunday