Hi Friends, All the below terms were posted as a doubt by our page member Bittu Balouch. While clearing his doubt I thought it would be better to post this in page too, so that it will be helpful for everyone who are preparing for IBPS Clerk Interview..! I hope it will be useful for all of you. 1. Agusta Westland Deal :- In early 2013, an Indian parliamentary investigation began into allegations of bribery and corruption involving several senior officials and helicopter manufacturer AgustaWestland surrounding the purchase of a new fleet of helicopters. The scandal has been referred to as the Chopper scam, or Choppergate by elements of the media and popular press. Several Indian politicians and military officials have been accused of accepting bribes from AgustaWestland in order to win the INR36 billion (US$580 million) Indian contract for the supply of 12 AgustaWestland AW101 helicopters; these helicopters are intended to perform VVIP duties for the President of India and other important state officials. Ahmed Patel political secretary to Congress President Sonia Gandhi is alleged by Italian prosecutors to have received kickbacks from the deal. 2. CASA Account :- CASA accounts are most prominent in middle and southeast Asia, and are an attempt to combine savings and checking accounts to entice customers to keep their money in the banks. The current account portion pays no or very low interest, while the savings portion pays an above average return. They are offered free or for a fee depending on minimum or average balance requirements. 3. MSME :- Micro, Small & Medium Enterprises. The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises is as under: (a) Enterprises engaged in the manufacture or production, processing or preservation of goods as specified below: i) A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh; ii) A small enterprise is an enterprise where the investment in plant and machinery is more than Rs. 25 lakh but does not exceed Rs. 5 crore; and iii) A medium enterprise is an enterprise where the investment in plant and machinery is more than Rs.5 crore but does not exceed Rs.10 crore. In case of the above enterprises, investment in plant and machinery is the original cost excluding land and building and the items specified by the Ministry of Small Scale Industries vide its notification No.S.O.1722(E) dated October 5, 2006. (b) Enterprises engaged in providing or rendering of services and whose investment in equipment (original cost excluding land and building and furniture, fittings and other items not directly related to the service rendered or as may be notified under the MSMED Act, 2006 are specified below. i) A micro enterprise is an enterprise where the investment in equipment does not exceed Rs. 10 lakh; ii) A small enterprise is an enterprise where the investment in equipment is more than Rs.10 lakh but does not exceed Rs. 2 crore; and iii) A medium enterprise is an enterprise where the investment in equipment is more than Rs. 2 crore but does not exceed Rs. 5 crore. 4. Intellectual Property :- Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce. IP is protected in law by, for example, patents, copyright and trademarks, which enable people to earn recognition or financial benefit from what they invent or create. By striking the right balance between the interests of innovators and the wider public interest, the IP system aims to foster an environment in which creativity and innovation can flourish. 5. Equitable Mortgage :- A mortgage in which the lender is secured by taking possession of all the original title documents of the property that serves as security for the mortgage. It gives the mortgagee the right to foreclose on the property, sell it, or appoint a receiver in case of nonpayment.
Posted on: Mon, 13 Oct 2014 06:20:03 +0000
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