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

Total Questions: 50

11. In which country is the Bank for International Settlements located?

Correct Answer: (2) Switzerland
Solution:The Bank for International Settlements (BIS) is an international organization of
central banks which "fosters international monetary and financial cooperation and
serves as a bank for central banks." It is based in Basel,  Switzerland, with representative offices in Hong Kong and Mexico City.

12. Which of the following countries/regional group has the highest Foreign Exchange Reserves?

Correct Answer: (1) China
Solution:As per data released in March 2013, China had the highest foreign exchange reserves in the world. Countries and their foreign exchange reserves are: 1. China: $3.31
trillion; 2. Japan: $1.25 trillion; 3. Saudi Arabia: $626.80 billion; 4. Russia: $527.70 billion. India comes 10th and the United States is at 16th rank in this regard.

13. For which movie did Vidya Balan win the IIFA Awards 2013 for Best Actress In A Leading Role?

Correct Answer: (2) Kahaani
Solution:Vidya Balan won the Best Actress role for essaying the role of Vidya Bagchi in Kahaani. She also won the Filmfare Award for Best Actress for the same film.

14. Starting 1 June 2013, the tax deducted at source has been applicable on the value of transfer of immovable property worth ________ and above.

Correct Answer: (4) Rs 50 lakh
Solution:Starting 1 June 2013, the 1per cent tax deducted at source (TDS) has been applicable on the value of transfer of immovable property worth Rs 50 lakh and above. The
immovable property includes assets such as a house, commercial property and land
purchased for commercial or residential purposes.

15. When a bank deposits a fake note to the Reserve Bank of India (RBI), the amount paid by RBI to the bank is

Correct Answer: (4) 25 per cent of the amount of the fake note
Solution:The Reserve Bank of India (RBI), in June 2013, directed banks to accept all fake notes
over the counter from customers and pay them back the full amount. In return, banks will get 25per cent of the amount of the fake note back from the RBI.

16. At which place is the National Defence Academy located?

Correct Answer: (2) Khadakwasla
Solution:The National Defence Academy (NDA) is located in Khadakwasla near Pune, Maharashtra. It spans 7,015 acres of the 8,022 acres donated by the Government of the
former Bombay State. The site was chosen for being on a lake shore, the suitability of the neighboring hilly terrain, proximity to the Arabian Sea and other military establishments, an operational air base nearby at Lohegaon.

17. Which derivative instrument is used by foreign investors who wish to invest in India?

Correct Answer: (1) P-Notes
Solution:Participatory Notes commonly known as P-Notes are instruments issued by registered foreign institutional investors (FII) to overseas investors, who wish to invest in
the Indian stock markets without registering themselves with the market regulator, the
Securities and Exchange Board of India - SEBI. SEBI permitted foreign institution-
al investors to register and participate in the Indian stock market in 1992.

18. Who among the following is the Chief Economist of the World Bank?

Correct Answer: (3) Kaushik Basu
Solution:Kaushik Basu is an Indian economist and academic who is Senior Vice President
and Chief Economist of the World Bank. On September 5, 2012, he was appointed Chief
Economist at the World Bank.

19. What is the name of the central bank of Pakistan?

Correct Answer: (2) State Bank of Pakistan
Solution:The State Bank of Pakistan (SBP) is the central bank of Pakistan. The State Bank of
Pakistan Act 1956 forms the basis of its operations today. Its headquarters are located in Karachi with its second headquarters in Islamabad.

20. The system of cheque clearing and settlement between banks based on electronic data/images or both without physical exchange of instrument is known as

Correct Answer: (1) Cheque Truncation
Solution:

Cheque Truncation is a system of cheque clearing and settlement between banks based on electronic data/im- ages or both without physical exchange of instrument. Cheque Truncation speeds up the process of collection of cheques resulting in better service to customers, reduces the scope for clearingrelated frauds or loss of instruments in transit, lowers the cost of collection of cheques, and removes reconciliation-related and logistics-related problems.