UPSC Prelims 2005 · General Studies
Question 140: Economy and Social Development
Consider the following statements:
- 1.Global Trust Bank has been amalgamated with the Punjab National Bank.
- 2.The second report of the Kelkar Committee dealing with direct and indirect taxes has maintained its original recommendations, including the abolition of exemptions relating to housing loans.
Which of the statements given above is/are correct?
AnswerThe answer is (d).
Statement 1 is wrong: Global Trust Bank was merged in 2004 with Oriental Bank of Commerce, not Punjab National Bank. Statement 2 is also not accepted by the key. So neither statement is correct. Remember: Global Trust Bank to Oriental Bank of Commerce, after the RBI imposed a moratorium on it in July 2004.
- 1. Global Trust Bank merged with Oriental Bank of Commerce.
- 2. Not accepted by the key.
How you could have got this
- If you were sure statement 1 is not correct, (a) and (c) go: each of them includes 1.
What you needed to know: Global Trust Bank merged with Oriental Bank of Commerce.
- Then, if you were sure statement 2 is not correct, (b) goes: it includes 2.
What you needed to know: Not accepted by the key.
Only (d) is left. This one needs every statement.
This follows an unofficial answer: UPSC has not published its key for this year, and if that answer is wrong, so is this path.
Which options go is worked out from UPSC’s key and the options, not by a model.
Why each option is right or wrong
- (a) Statement 1 is false: Global Trust Bank merged with Oriental Bank of Commerce.
- (b) Statement 2 is not accepted by the key.
- (c) Statement 1 is false, so both cannot be right.
- (d) Correct: neither statement is accepted.
Explanation: written by UPSC Grade, not by UPSC.
Source: UPSC, Civil Services (Preliminary) Examination 2005, General Studies. UPSC's own paper isn't online; the words are from a published compilation. The paper on upsc.gov.in.