RBI OFFICER GRADE ‘B’ PHASE-I EXAM Held on : 17.06.2017(Part-I)

Total Questions: 50

1. India's very own Global Positioning System (GPS) which is set to hit the market for public use in early 2018 is known as the 'Indian Regional Navigation Satellite System' (IRNSS). Its operational name is ____________

Correct Answer: (3) NAVIC
Solution:The operation name of the Indian Regional Navigation Satellite System (IRNSS) is NAVIC (navigator in Hindi) which stands for NAVigation with Indian Constellation. It is an autonomous regional satellite navigation system, that provides accurate real-time positioning and timing services. It covers India and a region extending km around it.

2. The 'Dalong Village' covering an area of 11.35 sq. km. has recently (May 2017) been declared as Biodiversity of Heritage Site under Section 37 (I) of Biological Diversity Act, 2002. The village is situated in the Indian State of ____________

Correct Answer: (1) Manipur
Solution:The Manipur government, in May , declared Dailong village of Tamenglong district as a Biodiversity Heritage Site of the state. The declaration was made after the recommendation of Manipur Biodiversity Board.

3. The 'Almatti Dam' is a hydroelectric project on the Krishna River in the Indian State of ____________

Correct Answer: (4) Karnataka
Solution:The Almatti Dam is a hydroelectric project on the Krishna River in Vijaypur district of North Karnataka. It was completed in July . The Almatti Dam is the main reservoir of the Upper Krishna Irrigation Project.

4. The first Indian State which has recently launched its official 'T-wallet' offering anytime anywhere platform for digital payments with an additional charge for the citizens is

Correct Answer: (2) Telangana
Solution:Telangana, on 1 June 2017, launched the T-Wallet, the official digital wallet of the state, offering anytime anywhere platform for digital payments with no additional charge for the citizens. This is the first official e-wallet from any state government in India.

5. Which of the following categories of baks are not allowed to accept deposits under 'Pradhan Mantri Garib Kalyan Deposit Scheme' (PMGKS), 2016 ?

Correct Answer: (4) Cooperative Banks
Solution:The government has barred cooperative banks from accepting deposits under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) scheme 2016. According to the RBI notification of 16 December 2016, deposits can be received by any banking company, other than Co-operative Banks, to which the Banking Regulation Act, 1949 (10 of 1949) applies.

6. A 'banking outlet' is one which opens for at least five days a week for at least

Correct Answer: (4) four hours a day
Solution:According to the revised branch authorization policy announced by the RBI in May 2017, a banking outlet for a scheduled commercial, a payments bank or a small finance bank is a fixed point service delivery unit, manned by either the bank's staff or its business correspondent, where services of acceptance of deposits, encashment of cheques, cash withdrawal or lending of money are provided for a minimum of 4 hours per day for at least five days a week.

7. Which of the following instruments is 'not' a debt instrument ?

Correct Answer: (1) Stocks
Solution:A debt instrument is a pa-per or electronic obligation that enables the issuing party to raise funds by promising to repay a lender in accordance with terms of a contract. Debt instruments include promissory notes, bonds, debentures, certificates of deposit, G-Secs, mortgages, treasury bills, commercial papers, leases or other agreements between a lender and a borrower.

8. The working and activity of NBFCs are registered by the Reserve Bank of India within the framework of the

Correct Answer: (1) Reserve Bank of India Act, 1934 (Chapter 10-12)
Solution:The working and operations of NBFCs are regulated by the Reserve Bank of India (RBI) within the framework of the Reserve Bank of India Act, 1934 (Chapter III-B) and the directions issued by it. A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 of India, engaged in the business of loans and advances, acquisition of shares, stock, bonds hire-purchase, insurance business or chit business.

9. The Union Home Minister, Shri Rajnath Singh has recently (May 2017) released the book 'India 2017; Yearbook'. The book is authored by

Correct Answer: (5) Shri Rajiv Mehrishi
Solution:Union Home Minister Ra-jnath Singh, on 22 May 2017, released the book 'India 2017 Yearbook' authored by the Union Home Secretary, Rajiv Mehrishi. The book is meant for civil services aspirants. It was published by Mc Graw Hill Education India.

10. The 'Sonal Rupai Wildlife Sanctuary' is situated in the Indian State of

Correct Answer: (5) Assam
Solution:Sonai Rupai Wildlife Sanctuary is a protected area located in Assam. It is located along the foothills of the Great Himalayan Range. The area was declared as a sanctuary in 1998. It is governed by the Department of Environment & Forests, Assam.