RBI GRADE ‘B’ OFFICER’S EXAM Held on : 18.12.2011 (Part-I)

Total Questions: 50

21. As reported in newspapers, China has raised objection on India's presence in South China sea alongwith Vietnam. Both the nations are engaged in which of the following activities in the sea?

(1) Fishing
(2) Exploring Minerals
(3) Exploring Oilfields
(4) Disposal of electronic waste
(5) Disposal of nuclear waste

Correct Answer: (3) Exploring Oilfields

Solution:Vietnam's oil firm Petro Vietnam has signed a deal with India's ONGC Videsh Limited
(OVL), under which OVL will help in oil exploration and extraction in the South China Sea.

22. Which of the following is the purpose of introducing 'Know Your Customer' norms by the banks?

(1) To bring more and more people under the banking net.
(2) Identifying people who do not pay Income Tax
(3) To ensure that the money deposited in banks has come from genuine sources
(4) To ensure whether the money deposited in the bank is of an Indian or a foreign national
(5) None of these

Correct Answer: (3) To ensure that the money deposited in banks has come from genuine sources

Solution:The Reserve Bank of India introduced KYC guidelines for all banks in 2002. In 2004, RBI directed that all banks ensure that they are fully compliant with the KYC provisions before December 31, 2005. The purpose was to prevent money laundering, terrorist financing and theft.

23. Which of the following organisations is established mainly to promote Micro, Small & Medium industrial sector in India?

(1) NABARD
(2) SIDBI
(3) IDBI Bank
(4) EXIM Bank
(5) All of these

Correct Answer: (2) SIDBI

Solution:Small Industries Development Bank of India (SIDBI) was established on April 2,
1990 through an act of parliament.

24. As reported in newspapers, the Market Borrowings of the Union Government have gone up in 2011-12 (upto September 2011). What is the main reason for the same ?

(1) Fixing very high target of growth
(2) Lower than budgeted collection of the revenue
(3) Lower than expected flow of foreign investment
(4) RBI's reluctance in giving fresh loans to the Government of India for developmental projects
(5) Consistent revision in the limit of the Ways and Means Advances given to the Government of India by the RBI

Correct Answer: (2) Lower than budgeted collection of the revenue

Solution:The need for additional borrowings arises because of the government's burgeoning expenditure in the wake of a huge subsidy bill and expected shortfall in receipts.

25. "Core Industries witness lower growth in last few months" - was the news in some major newspapers recently. This means the performance of which of the following is NOT taken into accounts for the same?

(1) Steel
(2) Cement
(3) Coal
(4) Gem and Jewellery
(5) Crude oil

Correct Answer: (4) Gem and Jewellery

Solution:The eight core industries are coal, crude oil, natural gas, refinery products, fertilizers,
steel, cement and electricity. These are key infrastructure areas.

26. 'Centre brings the curtain down on DEPB scheme' - was the news recently. What is the full form of the term DEPB?

(1) Developmental Enterprises Promotion Board
(2) Duty Entitlement Pass Book
(3) Duty Enforcement and Promotion Board
(4) Development, Export and Procurement Bureau
(5) Deportation and Enforced Prevention Bureau

Correct Answer: (2) Duty Entitlement Pass Book

Solution:DEPB (Duty Entitlement Pass Book) was an export incentive scheme of Indian Government provided to Exporters in India.

27. India recently entered into an agreement to purchase LNG from some East Asian Nations. This is the part of India's initiative in the direction of --

(1) Look East policy
(2) Switch over to LNG
(3) Business With Most Favoured Nations only
(4) Convention on Supplemental Compensation (CSC)
(5) New Business : New Partners Scheme

Correct Answer: (1) Look East policy

Solution:India has started dialogue with South East Asian nations such as Brunei, Indonesia, Australia and Malaysia to import liquefied natural gas (LNG) to meet the needs of a host of industries including power, fertilisers, petrochemicals and steel.

28. As per recent reports the Coal Ministry of India has allocated certain coal blocks to four NTPC Thermal Power Plants in four states. Which of the following states is NOT among these four states ?

(1) Uttar Pradesh
(2) Karnataka
(3) Orissa
(4) Madhya Pradesh
(5) Gujarat

Correct Answer: (5) Gujarat

Solution:The Coal ministry had given in-principle approval for allotment of five coal blocks to
four NTPC thermal power plants in Uttar Pradesh, Karnataka, Orissa and Madhya
Pradesh.

29. The Meet of the Finance Chiefs of G-7 countries was held in September 2011 in -

(1) London
(2) Tokyo
(3) Paris
(4) Marseille
(5) Vienna

Correct Answer: (4) Marseille

Solution:French city, Marseille

30. Which of the following organizations has given a warning to the nations of the world that there may be increased risk to global financial stability in the world?

(1) World Bank
(2) World Trade Organisation
(3) Asian Development Bank
(4) International Monetary Fund
(5) United Nations Organisation

Correct Answer: (4) International Monetary Fund

Solution:The International Monetary Fund (IMF) warned of increased risks to stability of the
global economy in recent months, arguing that a series of shocks, including the down-grade of the US credit rating, has shaken the financial system.

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