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Question
Choose the correct meaning for the foreign language words and phrases are given below.
malus
Options
mass
harmless
harmful
comforting
Solution
harmful
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Direction : The passage given below is followed by a set of question. Choose the most appropriate answer to each question.
With an aim to check flow of black money and evasion of taxes through stock market, market regulator SEBI has decided to impose hefty penalty on brokers facilitating such transactions from tomorrow. The regulator recently came across a loophole in its existing regulations, which was being abused by stock brokers for facilitating tax evasion and flow of black money through fictitious trades in lieu of hefty commissions. To remove this anomaly, SEBI has asked stock exchanges to penalise the brokers transferring trades from one trading account to another after terming them as ‘punching’ errors. The penalty could be as high as 2% of the value of shares traded in the ‘wrong’ account, as per new rules coming into effect from August 1. In a widely-prevalent, but secretly operated practice, the people looking to evade taxes approach certain brokers to show losses in their stock trading accounts, so that their earnings from other sources are not taxed. These brokers are also approached by people looking to show their black money as earnings made through stock market. In exchange for a commission, generally 5-10% of the total amount, these brokers show desired profits or losses in the accounts of their clients after transferring trades from other accounts, created for such purposes only. The brokers generally keep conducting both ‘buy’ and ‘sell’ trades in these fictitious accounts so that they can be used accordingly when approached by such clients. In the market parlance, these deals are known as profit or loss shopping. While profit is purchased to show black money as earnings from the market, the losses are purchased to avoid tax on earnings from other sources. As the transfer of trades is not allowed from one account to the other in general cases, the brokers show the trades conducted in their own fictitious accounts as ‘punching’ errors. The regulations allow transfer of trades in the cases of genuine errors, as at times ‘punching’ or placing of orders can be made for a wrong client. To check any abuse of this rule, SEBI has asked the bourses to put in place a robust mechanism to identify whether the errors are genuine or not. At the same time, the bourses have been asked to levy penalty on the brokers transferring their non-institutional trades from one account to the other. The penalty would be 1% of the traded value in wrong account if such trades are up to 5% of the broker’s total non-institutional turnover in a month. The penalty would be 2% of trade value in wrong account if such transactions exceed 5% of total monthly turnover in a month.
What does the word 'facilitating' as used in the passage mean?
Direction: The passage given below is followed by a set of question. Choose the most appropriate answer to each question.
Ahmedabad’s Sunday market that sells junk is this 35-year-old artist’s favourite hunting ground. That’s where he picks saw-blades, printer toners, monitors, busted VCDs and hard disks, video players and other castaway gems. Back home, he painstakingly dismantles his treasure of scrap and segregates it into big pieces (the video player's outer case), mid-sized (the insides of a hard disk) and small pieces (innards of a mobile). This is art you can get up, close and personal with. The works grab the viewer’s attention at several levels. Aesthetically, the creations themselves - such as Frivolity which uses feathers and terracotta diyas painted in dark fossil green that give it a strange life - appeal in a live-and-kicking sort of way. Look a little closer and hey, you spot a zipper. Then it’s a journey all your own. Your eyes identify hairpins, spray spouts that hairdressers use, paper clips, thread, computer ribbons and the insides of everything from watches to the sliding metal bits that support drawers. You can almost hear the works whirr. So Hashissh, constructed from paper clips, backpack clips, a shining CD and twirled thread, may invite you to study its water-blue, pinks and green or Nelumbeshwar may beckon, bathed in acrylic pink and grey-black. But once you’re standing in front of a piece, you spot the zips and the hairpins. Then you simply visually dismantle Har’s work and rebuild it all over again. Zoom in, zoom out. It’s great fun. Visualising the colour of his work demands a lot of attention, says Har. “During creation, the material is all differently coloured. So there’s a red switch next to a white panel next to a black clip. It can distract. I don’t sketch, so I have to keep a sharp focus on the final look I am working towards.” As his work evolved, Har discovered laser-cutting on a visit to a factory where he had gone to sand-blast one of his pieces. Hooked by the zingy shapes laser-cutting offered, Har promptly used it to speed up a scooter and lend an unbearable lightness of being to a flighty autorickshaw, his latest works. The NID-trained animation designer’s scrap quest was first inspired by a spider in his bathroom in Chennai when he was a teenager. He used a table-tennis ball (for the head), a bigger plastic ball (for the body) and twisted clothes hangers to form the legs. His next idea was to create a crab, and his mother obligingly brought one home from the market so that he could study and copy it. Winning the first Art Positive fellowship offered by Bajaj Capital Arthouse last year gave Har the confidence to believe that he could make it as an artist or ‘aesthete’ as he likes to call himself.
What does the word 'aesthete' as used in the passage mean?
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