UPSC PRELIMINARY MOCK TEST 122
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Foreign Exchange Risk
"Meanwhile, the RBI broke its silence on the fraud and blamed internal control failures for PNB's woes in a statement terming the incident as a 'case of operational risk' due to 'delinquent behaviour' by one or more employees."
- Generally, operational risk is defined as any risk, which is not categorised as market or credit risk, or the risk of loss arising from various types of human or technical error. The most important type of operational risk involves breakdowns in internal controls and corporate governance (as is being recognised in the PNB scam). Such breakdowns can lead to financial loss through error, fraud, or failure to perform in a timely manner or cause the interest of the bank to be compromised.
- Credit risk or default risk involves inability or unwillingness of a customer or counter-party to meet commitments in relation to lending, trading, hedging, settlement and other financial transactions.
- Traditionally, credit risk management was the primary challenge for banks. With progressive deregulation, market risk arising from adverse changes in market variables, such as interest rate, foreign exchange rate, equity price and commodity price has become relatively more important.
- Forex risk is the risk that a bank may suffer losses as a result of adverse exchange rate movements.
Hall of Private Audiences
Palace of Colour
ASI carries out restoration of Mughal era parts of Red Fort. Flooring of red sandstone and jaali work was done as part of the renovations. Paintings and marble surfaces of Diwanikhas and Zafar Mahal were treated scientifically and Moti Masjid, Sawan and Bhadon pavilions and Hira Mahal were treated with clay.
In the future, cleaning of Rang Mahal, Khaas Mahal and Mumtaz Mahal has been proposed.
The Diwan-i-Khas or Hall of Private Audiences, was a chamber in the Red Fort of Delhi built in 1571 as a location for receptions. It was the location where the Mughal Emperor Akbar received courtiers and state guests. It was also known as the Shah Mahal.
- The King was the highest authority and possessed wide powers to enable the smooth functioning of the empire.
- Salaries in the Gupta period were paid in form of land grants
- Decentralization is totally absent
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Chennai has been included in the UNESCO Creative Cities Network for its rich musical tradition. Including Chennai, a total of 64 cities from 44 countries have joined the UNESCO Creative Cities Network. Jaipur and Varanasi are the other Indian cities that feature on the list. "
The advent of Purandaradasa, in the year 1484, marked a very important landmark in the development of Carnatic music. He effected such a thorough systematisation and refinement in the art, that, up to the present day, it has remained the same. He has been justly termed as "Carnatic Sangeeta Pitamaha". He was not merely a composer but a Lakshanakara of the highest calibre. The system of South Indian Music, as we have it now, is entirely his gift to posterity. He introduced the Malavagowla scale as the basic scale for music instruction. He also framed graded exercises, forming part of the series of lessons to beginners of music. This system prevails even today in the teaching of music. The Svaravalis, Janta varisas, the Suladi Sapta tala alankaras and gitams, composed by Purandaradasa, form the basis for mastery in the art. Among the compositional types, he has to his credit numerous lakshya gitams and lakshna gitams, tana varnams, tillanas, suladis, ugabhogas, vritta namas and kirtanas. His kirtanas are popularly referred to as Dasara Padas or Devarnamas.