RBI OFFICER GRADE ‘B’ ONLINE EXAM Held on : 25.08.2013 (Part-I)

Total Questions: 50

11. Who has authored the novel titled 'Half Life'?

(1) Shelley Jackson
(2) Vikram Seth
(3) Hillary Clinton
(4) Lisa Ray
(5) Angelina Jolie

Correct Answer: (1) Shelley Jackson

Solution:Half Life is the 2006 debut novel of American writer and artist Shelley Jackson. The novel presupposes an alternate history in which the atomic bomb resulted in a genetic preponderance of conjoined twins, who eventually become a minority subculture.

12. Which of the following is correct regarding the Securities Transaction Tax?

(1) It is not applicable on off- market transactions
(2) It is not applicable on commodity transactions
(3) It is not applicable on currency transactions
(4) It was originally introduced in 2004
(5) All of the above.

Correct Answer: (5) All of the above.

Solution:Securities Transaction Tax (STT) is a tax payable in India on the value of securities
transacted through a recognized stock exchange. The tax is not applicable on off-market transactions or on commodity or currency transactions. STT was originally introduced in 2004 by the then Finance Minister, P. Chidambaram.

13. Which of the following statements is/are correct regarding FDI or FII stake in any company?

(1) Less than 10 per cent stake in a company is treated as FDI under international classification
(2) More than 10 per cent stake in a company is treated as FII under international classification
(3) FDI entities have greater powers in terms of share transactions and voting rights in comparison to FII
(4) FIIs are allowed to conduct private transactions, while FDIs are not
(5) All of the above

Correct Answer: (5) All of the above

Solution:In his 2013-14 budget speech, P Chidambaram proposed a shift to an international classification under which less than 10 per cent stake in a company will be
treated as foreign institutional investment (FII) or portfolio investment and anything
above that as FDI. FDI entities, which typically come through joint ventures and
strategic partnerships, have greater powers in terms of share transactions and voting
rights, while FIIs can only trade in open market transactions and have limited voting
rights. FDI entities are allowed to conduct private transactions while FIIs are not.

14. Every commercial bank in India have to maintain liquid assets such as precious metals (gold) or other approved securities as reserves other than the cash. This is known as Statutory Liquidity Ratio. What is its present rate?

(1) 40 per cent
(2) 32 per cent
(3) 25 per cent
(4) 23 per cent
(5) 18 per cent

Correct Answer: (4) 23 per cent

Solution:SLR rate = (liquid assets / (demand + time liabilities)) x 100 per cent. Following the
amendment of the Banking regulation Act (1949) in January 2007, the floor rate of
25 per cent for SLR was removed. In July 2012, the Reserve Bank of India cut the
statutory liquidity ratio by a percentage point to 23 percent.

15. The government is giving a fresh push to its flagship rural employment scheme ahead of the general elections, providing additional funds to four states. Which one is not among those states?

(1) Uttar Pradesh
(2) Bihar
(3) Chhattisgarh
(4) Jharkhand
(5) Odisha

Correct Answer: (3) Chhattisgarh

Solution:As per an announcement made in July 2013, the government is giving a fresh push
to its flagship rural employment scheme, providing additional funds to Uttar Pradesh,
Bihar, Jharkhand and Odisha. These states have been chosen because half of their
population is below poverty line and they have not been able to utilise even 30 per cent
of the funds under Mahatma Gandhi National Rural Employment Guarantee Act
(MGNREGA) due to procedural technicalities.

16. What is the standard weight in which gold is quoted in the international market?

(1) Ounce
(2) Gram
(3) Troy ounce
(4) Grain
(5) Pennyweight

Correct Answer: (3) Troy ounce

Solution:Troy ounce is the standard weight in which gold is quoted in the international market, weighing 31.1035g. it is also used for weighing and pricing of platinum, silver and
other precious metals. This unit has been named after the old French city of Troyes,
where there was an annual trading fair in mediaeval days and where this was a unit of
weight.

17. Who heads the Committee on Insurance Broking which was in news recently?

(1) Abhijit Sen
(2) Suresh Mathur
(3) Anil Pradhan
(4) Ketan Agarwal
(5) Dinesh Avasthi

Correct Answer: (2) Suresh Mathur

Solution:The Insurance Development Authority formed a Committee on Broking in March 2013 to review insurance broker regulations, existing practice and other matters related to insurance broking. The seven member committee was headed by Suresh Mathur, Senior Joint Director, IRDA.

18. Mr. Anil Khatri filed a complaint with the Banking Ombudsman. However, he is not satisfied with the decision of the Ombudsman. Whom can he approach now for the redressal of his grievance?

(1) Chief Justice of respective High Court
(2) Banking Ombudsman Tribunal
(3) Governor of Reserve Bank of India
(4) Supreme Court of India
(5) Deputy Governor of Reserve Bank of India

Correct Answer: (5) Deputy Governor of Reserve Bank of India

Solution:If one is not satisfied with the decision passed by the Banking Ombudsman, one
can approach the appellate authority against the Banking Ombudsmen's decision. Appellate Authority is vested with a Deputy Governor of the RBI.

19. What is the name of a path- breaking initiative by the Government and the Indian Banks' Association which promises to bring basic banking services to 73,000 unbanked villages with a population of 2,000 and above?

(1) Swabalamban
(2) Chetna
(3) Swabhimaan
(4) Akanksha
(5) Sugam-Sulabh

Correct Answer: (3) Swabhimaan

Solution:"Swabhimaan" is a pathbreaking initiative by the Government and the Indian
Banks' Association to cover economic distance between rural and urban India. This
campaign promises to bring basic banking services to73,000 unbanked villages with
a population of 2,000 and above. It aims at providing branchless banking services
through the use of technology.

20. In which state of India is the Koyna Hydroelectric Power project located?

(1) Odisha
(2) Maharashtra
(3) Andhra Pradesh
(4) Karnataka
(5) Gujarat

Correct Answer: (2) Maharashtra

Solution:Koyna Hydroelectric Project is situated in Satara district of Maharashtra. It is the largest completed hydroelectric power plant of India. Due to the project's electricity generating potential the Koyna River is considered as the life line of Maharashtra.

« Previous 123 4 5 Next »