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42nd Constitutional Amendment of 1976 raised the tenure of Lok Sabha and state legislative assemblies from 5 to 6 years. However, the 44th Amendment of 1978 restored the original term of the Lok Sabha and the state legislative assemblies to 5 years. Thus, Statement 1 is correct. The normal term of Lok Sabha is five years from the date of its first meeting after the general elections, after which it automatically dissolves. However, the President is authorised to dissolve the Lok Sabha at any time even before the completion of five years. Prime Minister can recommend dissolution of the Lok Sabha to President at any time. Thus, statement 2 is correct. The Constitution lays down special a procedure for the passing of money bills in the Parliament. A money bill can only be introduced in the Lok Sabha and that too on the recommendation of the President. Thus, statement 3 is correct. The Rajya Sabha (first constituted in 1952) is a continuing chamber, that is, it is a permanent body and not subject to dissolution. However, one-third of its members retire every second year. Their seats are filled up by fresh elections and presidential nominations the at beginning of every third year. Hence Statement 4 is not correct.
Which of the following financial services are regulated by the IFSCA?
An NBFC can take deposits from public for a maximum period of ________
When a Bank sanctions a loan to a large borrower, which of the following risks it may not face?
Which of the following are the components that are required to be estimated for credit risk quantification?
1. Probability of default
2. E...
Which of the following measures reflects the ratio of change in the price of call option to the change in the price of the underlying stock?
Which among the following is the act of taking on a risk for a fee?
As per Union Budget 2024-25, how much amount has been allocated for the micro, small, and medium-scale enterprises (MSMEs) sector in India?
Which of the following methods does Basel II provide for measuring credit risk capital charge?
What was the amount of the Asian Development Bank (ADB) loan provided to India for solid waste management and sanitation under the Swachh Bharat Mission...
Which of the following statements about life insurance in India is/are incorrect?
1) The Life Insurance Corporation of India (LIC) was establi...