Q: 48 (IAS/2005)
question_subject:
Current Affairs
question_exam:
IAS
stats:
0,4,33,6,10,17,4
keywords:
{'exemptions': [0, 0, 1, 0], 'indirect taxes': [0, 0, 1, 0], 'punjab national bank': [0, 0, 1, 3], 'kelkar committee': [0, 0, 1, 0], 'second report': [0, 0, 1, 0], 'global trust bank': [0, 0, 1, 0], 'housing loans': [0, 0, 0, 1]}
The first statement is incorrect as the Global Trust Bank was not amalgamated with the Punjab National Bank. The Global Trust Bank was actually merged with the Oriental Bank of Commerce in India.
The second statement is also incorrect. The Kelkar Committee on direct and indirect taxes did recommend the abolition of some exemptions, but those didn`t specifically include exemptions related to housing loans.
As both the statements are incorrect, so option 4 `Neither 1 nor 2` is the correct answer. Each option was assessed on the basis of the accuracy of the facts stated in the scenarios presented and then matched with the provided answer.