Bissoy.com
Doctors Medicines MCQs Q&A

  1. Traditionally, all trade on exchanges happen through online banking channels where users can buy and trade bitcoins. The exchanges charge a transaction fee on every trade. The Reserve Bank of India (RBI) circular mandates banks against offering services to exchanges, pushing them toward a peer-to-peer exchange.
  2. WazirX allows only registered users, with verified KYC details to trade on their platform. They claim that this is different from websites like localbitcoin.com that allows strangers to exchange their local currency for bitcoins.
  3. Besides WazirX, another exchange Koinex has introduced its escrow solution called Koinex Loop. Both WazirX and Koinex escrow solution will go live as soon as the RBI ban on banking services comes into effect.
  4. The SC will hear a writ filed by IAMAI against RBI for blocking banking services for cryptocurrency businesses. If the SC rules against IAMAI, the July 5 deadline for banks and payment gateways to stop working with cryptocurrency will take effect, affecting exchanges and traders.
  5. None can be inferred.
6 views

1 Answers

Option 4 : The SC will hear a writ filed by IAMAI against RBI for blocking banking services for cryptocurrency businesses. If the SC rules against IAMAI, the July 5 deadline for banks and payment gateways to stop working with cryptocurrency will take effect, affecting exchanges and traders.

The correct answer is option 4, i.e. The SC will hear a writ filed by IAMAI against RBI for blocking banking services for cryptocurrency businesses. If the SC rules against IAMAI, the July 5 deadline for banks and payment gateways to stop working with cryptocurrency will take effect, affecting exchanges and traders. 

We first make sure to read the statement carefully and then see what immediate inferences can be drawn based on our first reading. The next step is to look at the statements given in the options, analyze them and see if they seem relevant with respect to the information/data provided to us. From the statement, we can infer that the Reserve Bank of India has filed a petition for blocking banking services for bitcoin trading and corresponding to that the Internet and Mobile Association of India (IAMAI), has filed a petition against the RBI move that has set a July 5 deadline for banks and payment gateways to stop working with cryptocurrency, affecting exchanges and traders. (1) can be rejected as it talks about some circular by Supreme Court which is new idea and no information regarding it is given, thus, it can be rejected. Both (2) and (3) can also be rejected as from the given set of statements, we do not get anything concrete based on how these two exchange companies operate and work, thus, both of them can also be eliminated. Option (4) captures the essence in the most perfect way as it generalizes the fact that if the Supreme Court rules against IAMAI then exchanges will be greatly affected. It is a general inference based on the given information.

All the other options seem irrelevant with respect to the data provided in the statement. Hence, the correct answer is option 4.
6 views

Related Questions

The question below consists of a set of labelled sentences. Out of the four given options, select the most logical order of the sentences to form a coherent paragraph. P- In case of interest rates, they could now be determined by the banks based on their cost of funds rather than government fixing them for banks.  Q- Most importantly for the banking industry, as per the M. Narasimhan committee recommendations, liberalization came in the right areas namely interest rate, reduction of reserve requirements, entry deregulation, credit policies and prudential supervision. R- After the 1991 crisis, India’s liberalisation journey was multi-faceted. S- One of the major areas of liberalisation was the banking sector which was highly regulated and controlled by the government. ?
1 Answers 5 Views
In each question below is given a statement numbered I, II and III. An assumption is something supposed or taken for granted. You have to consider the following assumption and decide which of the assumption is implicit in the statement. Statement: The June 2018 quarter results of Infosys reflect that the investors waiting for the company to perform as good, if not better, than its largest peer Tata Consultancy Services (TCS) may have to wait a little longer. Infosys, the country’s second-largest software exporter reported slower sequential growth in revenue and profit than TCS for the June quarter (Q1). It also lagged on the fronts of employee attrition and growth in the banking, financial services, and insurance (BFSI) vertical.  Assumptions: I. On the positive side, Infosys continued to add large clients – four in the above $100-million billing category compared with the previous quarter. It continued to retain guidance of 6-8% revenue growth for FY19 while retaining the operating margin band of 22-24%. II. In the near term, the stock performance of TCS is likely to overshadow Infosys given the difference in their growth trajectories. III. The growth momentum of Infosys has slowed relative to TCS. The year-on-year growth in trailing 12-month (TTM) revenue of Infosys in each of the four quarters up to the June 2018 quarter has lagged TCS after leading in the previous five quarters.?
1 Answers 4 Views
The question given below consists of a statement, followed by three arguments numbered I, II and III. You have to decide which of the arguments is/are ‘strong' arguments and which is/are ‘weak' arguments and accordingly choose your answer from the alternatives given below each question. Statement:  The central government has told the Supreme Court that anti-adultery laws were required to protect the ‘sanctity of marriage and the institution of family', and any attempt to do away with these laws would hurt ‘Indian ethos'. The government was responding to a court notice on a public interest litigation which wanted the law struck down as it was not gender neutral and the provisions were tilted against men. Which among the following arguments support the above statement regarding the ‘revision of such laws' in the best possible manner Arguments: I. It seemed to suggest that women were chattel owned by men and could be guided and misguided. II. This would erode the sanctity of marriage as an institution and the societal fabric. The issue of making the provision gender neutral was already pending before the government. III. Any step towards decriminalising the offence in the interim would be detrimental to Indian ethos which gives paramount importance to the institution and sanctity of marriage.?
1 Answers 4 Views
In each question below is given some statements followed by three conclusions numbered I, II and III. You have to assume everything in the statement to be true, then consider the given conclusions together and decide which of them logically follows beyond a reasonable doubt from the information given in the statement. Statements: Facebook Inc said on Tuesday it will ban ads promoting financial products and services tied to cryptocurrencies and initial coin offerings. “We’ve created a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency,” Facebook’s product management director, Rob Leathern, said. The new policy will be implemented across its platforms, including Facebook, Audience Network and Instagram, the company said.   Conclusions: Cryptocurrencies and initial coin offerings, according to Facebook, associate with misleading or deceptive promotional practices. Audience Network is a product of Facebook Inc. Instagram isn’t a subsidiary product of Facebook Inc. ?
1 Answers 4 Views