1) BIS has revised Indian standards on hallmarking _________
a. Gold ingots
b. Gold biscuits
c. Gold coins
d. Gold jewellery
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Answer
Explanation
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ANSWER: Gold jewellery
Explanation:
Bureau of Indian Standards (BIS) on 10th Jan said it has revised Indian Standard on gold hallmarking, which is effective from January 1 this year.
Indian standard on gold hallmarking has been revised and has been made effective for implementation with effect from January 1, 2017.
The hallmarked gold jewellery will now be available in three grades of 14 carat, 18 carat and 22 carat.
The caratage will also be marked on jewellery in addition to fineness for convenience of consumers,
For 22 carat jewellery 22K will be marked in addition to 916 (22K916), for 18 carat jewellery 18K will be marked in addition to 750 (18K750) and for 14 carat jewellery, 14K will be marked in addition to 585 (14K585).
Hallmark on gold jewellery will now have four marks.
These are the BIS Mark, the purity in carat and fineness (22K916 for 22 carat), assaying centre's identification mark and jeweller's identification mark.
Know More About BIS - The Bureau of Indian Standards (BIS) is the national Standards Body of India.
- It working under the aegis of Ministry of Consumer Affairs, Food & Public Distribution.
- Headquarters?: ?Manak Bhawan
- Agency executive?: ?: Alka Panda, Director General
- Formed?: ?23 December 1986
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2) Bureau of Indian Standards works under aegis of -
a. Department of Heavy Industry
b. Ministry of Consumer Affairs, Food & Public Distribution
c. Ministry of Micro Small and Medium Enterprises
d. Ministry of Commerce and Industry
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Answer
Explanation
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ANSWER: Ministry of Consumer Affairs, Food & Public Distribution
Explanation:
- The Bureau of Indian Standards (BIS) is the national Standards Body of India working under the aegis of Ministry of Consumer Affairs, Food & Public Distribution, Government of India. It is established by the Bureau of Indian Standards Act, 1986 which came into effect on 23 December 1986.
- The Minister in charge of the Ministry or Department having administrative control of the BIS is the ex-officio President of the BIS.
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3) Which of the following statements is/are correct about the Bank for International Settlements (BIS)?
1. Central bank governors of Belgium, France, Germany, Italy, the United Kingdom and the United States are ex-officio directors of board.
2. Raghuram Rajan, Governor of Reserve Bank of India (RBI), has been elected as Chairman of the Bank of International Settlement (BIS).
a. Only 1
b. Only 2
c. Both
d. None
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Answer
Explanation
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ANSWER: Only 1
Explanation:
- Raghuram Rajan, Governor of Reserve Bank of India (RBI), has been elected vice-chairman of the Bank of International Settlement (BIS).
- The board of directors elects a chairman and a vice-chairman from among its members each for a three-year term.
- Nine governors of other member central banks may be elected to the board.
- The BIS board meets at least six times a year.
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4) Which of the following statements is/are correct about the Bank for International Settlements (BIS)?
1. Its shares are owned by central banks of member countries.
2. The headquarter is in New York.
a. Only 1
b. Only 2
c. Both
d. None
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Answer
Explanation
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ANSWER: Only 1
Explanation:
- The Bank for International Settlements is an international company limited by shares owned by central banks
- Its aim is to fosters international monetary and financial cooperation and serves as a bank for central banks.
- It also provides banking services, but only to central banks and other international organizations.
- It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.
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5) Where is the Bank of International Settlement headquartered?
a. Belgium
b. France
c. Germany
d. Switzerland
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Answer
Explanation
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ANSWER: Switzerland
Explanation:
The Bank of International Settlement (BIS) was established on May 17, 1930.
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