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English Language Quiz For IBPS PO & Clerk Exam | 19-09-2020

Swati Mahendras

Dear Readers,


Mahendras has started special quizzes for IBPS PO & Clerk Exam so that you can practice more and more to crack the examination. This IBPS PO & Clerk Exam special quiz series will mold your preparations in the right direction and the regular practice of these quizzes will be really very helpful in scoring good marks in the Examination. Here we are providing you the important question of reasoning ability for the IBPS PO & Clerk Exam.


Q1-3 Read each part of the sentence to find out if there is any error in it. The error, if any, will be in one part of the sentence. The number of that part is the answer. If there is no error, mark your answer as (5).

Q-1 Government came out with set of draft rules,(1)/ including for liquidation of insolvent(2)/ corporate persons, under(3)/ the Insolvency and Bankruptcy Code.(4)/No Error (5)

01. Government came out with set of draft rules

02. including for liquidation of insolvent

03. corporate persons, under

04. the Insolvency and Bankruptcy Code

05. No Error

Q-2 Samsung suspended all production of its(1)/ Galaxy Note 7 smartphone, halted sales worldwide and told customers(2)/ to stop using the device, following reports(3)/ that replacements for combustibles were also catching fire.(4)/No Error (5)

01. Samsung suspended all production of its

02. Galaxy Note 7 smartphone, halted sales worldwide and told customers

03. to stop using the device, following reports

04. that replacements for combustibles were also catching fire

05. No Error

Q-3 India hopes to reach a deal with Britain for facilitating(1)/ short-term visas for Indian students,(2)/ academicians and businessmen while Prime Minister's visit,(3)/ the High Commissioner to the UK said.(4)/No Error (5)

01. India hopes to reach a deal with Britain for facilitating

02. short-term visas for Indian students

03. academicians and businessmen while Prime Minister's visit

04. Acting High Commissioner to the UK

05. No Error

Q4-10 Read the following passage carefully and answer the questions given below it.

The Reserve Bank of India has struck the right balance between flexibility and prudence in its operating guidelines for small finance and payments banks. Keeping in mind the differentiated business models of these new-age banks and the contribution that technology and digital channels can make to deepen their reach in the rural hinterland, the RBI has fittingly offered some operational leeway within its broader goal of achieving financial inclusion. Significant among these is the doing away of mandatory paper-based KYC (know your customer) requirements at the time of opening accounts. By allowing these banks to process KYC through digital signatures and electronic verification, the RBI has paved the way for them to undertake banking activities without necessarily setting up physical branches, thereby reducing capital expenditure. In the case of payments banks promoted by telecom companies, the RBI has gone a step further, allowing a seamless transition of mobile users into bank customers if the KYC norms are already met.

These guidelines, which go hand in hand with recent recommendations of the RBI’s internal working group on rationalisation of branch authorisation policy, clearly indicate that the central bank is willing to walk the financial inclusion talk, providing enough operational flexibility on the choice of delivery channel to different banks. Recognising the revolutionary developments in the digital and telecom platforms, the working group has recommended easing of branch definition to include all places of business, including mobile business correspondents and non-fixed locations. While the rest of the operating guidelines are not as consequential, the RBI has done well to document them, removing ambiguities around the treatment of certain norms. Micro finance institutions, en route to becoming small finance banks, have a chunk of their loans funded by bank borrowings. Taking cognisance of the fact that these players can only gradually comply with the regulatory ceiling on inter-bank borrowings applicable to conventional banks, the RBI has granted exemption on ‘legacy’ borrowings until such loans mature, up to a maximum period of three years.

At the same time, the RBI has rightly laid down certain prudential norms, necessary for a robust and secure banking and payments system. New players would be required to maintain a much higher capital adequacy ratio of 15 per cent, against the 9-odd per cent that traditional banks have to adhere to. Given the rapid pace at which small finance banks are scaling up their loans and diversifying their operations, the additional capital buffer is welcome. While payments banks do not carry any lending risk, the extra capital can help absorb losses, if any, in the initial phase of ramping up distribution network, necessitating substantial investments. The RBI has done its job. It is now up to these banks to come up with out-of-the-box ideas in order to widen inclusion and lower costs.

Q4 How is the loan of Micro finance institutions being funded, which en route to becoming small finance banks?

01. By the RBI which has granted exemption on ‘legacy’ borrowings.

02. Micro finance institutions have a chunk of their loans funded by bank borrowings.

03. By the recurring deposit of the workers.

04. By the RBI, with having bad debts for the financial year ending.

05. Not mentioned in the passage.

Q5 Why is it up to the banks now to come up with unsually good ideas while the RBI has necessitated substantial investments?

(A) in order to widen inclusion

(B) in order to lower costs

(C) in order to measure BMI

(D) in order to lay down certain prudential norms

01. Only (B)

02. Only (C)

03. Only (B) and (D)

04. Both (A) and (B)

05. All (A),(B),(C) and (D)

Q6 Which of the following statement is TRUE according the passage?

01. RBI has further slashed interest rates by 0.15 per cent for its home loans.

02. RBI home loan would be available at 9.15 percent.

03. RBI said the interest on term loan would be charged as per the equated monthly instalment.

04. The working group has recommended easing of branch definition to include all places of business.

05. None of the above.

Q7 Which of the following statement is NOT TRUE according the passage?

01. Small finance banks are diversifying their operations.

02. The additional capital buffer is not welcomed.

03. New players would be required to maintain a much higher capital adequacy ratio of 15 per cent.

04. Both (1) and (2)

05. All of the above.

Q8 Why the RBI has offered some operational elbow room within its broader goal of achieving financial inclusion?



(A) Keeping in mind the differentiated business models of the new-age banks.

(B) For the contribution that technology and digital channels can make to deepen their reach in the rural hinterland.

(C) For the right balance between flexibility and prudence in its operating guidelines.

01. Only (A)

02. Only (B)

03. Only (C)

04. Both (A) and (C)

05. All (A),(B) and (C)

Q9 How has the RBI done well to document the rest of the operating guidelines?

(A) The RBI directed banks trying to plug India's biggest data theft to submit a report on the magnitude of the security breach at their ATMs.

(B) The RBI has removed ambiguities around the treatment of certain norms.

(C) The Reserve Bank of India has embarked on a significant but potentially risky shift towards greater tolerance of higher inflation.

01. Only (A)

02. Only (B)

03. Only (C)

04. Both (B) and (C)

05. All of the above

Q10 Why the RBI has rightly laid down certain prudential norms according to the passage?

01. Because the prudential norms are necessary for a robust secure banking and payments system.

02. Because the prudential norms are necessary for the central bank is willing to walk the financial inclusion talk.

03. Because the prudential norms are necessary for the doing away of mandatory paper-based KYC requirements at the time of opening accounts.

04. Both (1) and (2)

05. Both (1) and (3)

Answers:-

Q.1 (5)

Q.2 (5)

Q.3 (3)

Q.4 (2)

Q.5 (4)

Q.6 (4)

Q.7 (2)

Q.8 (4)

Q.9 (2)

Q.10 (1)





















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