RBI OFFICER GRADE ‘B’ PHASE-I EXAM Held on : 03.08.2014(Part-I)

Total Questions: 50

1. Which of the following two persons were nominees in the recent presidential elections held in Afghanistan?

Correct Answer: (1) Abdullah Abdulla and Ashraf Ghani Ahmadzai
Solution:Presidential Elections were held in Afghanistan on 5 April 2014, with a second round held on 14 June. The two main contestants are Abdullah Abdulla (National Coalition of Afghanistan) and Ashraf Ghani Ahmadzai (Independent). Widespread accusations of fraud are likely to delay these results.

2. Which of the following credit control methods regulated by the Reserve Bank of India is not a quantitative method?

Correct Answer: (5) Margin requirements
Solution:There are two credit control measures used by the Reserve Bank of India: (i) Quantitative control to regulates the volume of total credit, and (ii) Qualitative Control to regulates the flow of credit. Margin Requirements (difference between the securities offered and amount borrowed by the banks) is a qualitative measure.

3. Who, among the following, is the Chancellor of Germany?

Correct Answer: (1) Angela Merkel
Solution:The current German Chancellor is Angela Merkel, who is cur-rently serving her third term in office. She is the first female chancellor, thus being known in German as Bundeskanzlerin. In German politics the Chancellor is equivalent to that of a prime minister in many other countries.

4. The Government of India provides debt relief in the agriculture sector. Which of the following institutions heads the accounting in this regard?

Correct Answer: (4) Comptroller and Auditor General of India
Solution:Performance Audit Report on the debt relief schemes in agriculture sector is carried out by the Comptroller and Auditor General (CAG). For example, a CAG report, tabled in Parliament in March 2013, said that 8.5% of farmers, out of 80,299 accounts audited, were not eligible for debt waiver or debt relief that they received under the debt waiver schemes.

5. In banking sector, Financial Resolution Authority deals with

Correct Answer: (2) Failing financial institutions
Solution:An RBI working group under the chairmanship of RBI Deputy Governor Anand Sinha, in April 2014, recommended setting up a Financial Resolution Authority (FRA) to effectively deal with failing financial institutions and ensure overall stability in the system. It can be set up by either converting the Deposit Insurance and Credit Guarantee Corporation (DICGC) or creating a new entity that will subsume the DICGC.

6. Which type of institution keeps information about the past credit history of customers?

Correct Answer: (4) CIBIL
Solution:Credit Information Bureau (In-dia) Limited (CIBIL) is India's first Credit Information Company (CIC) founded in August 2000. CIBIL collects and maintains records of an individual's payments pertaining to loans and credit cards.

7. The Union Budget 2014-15 announced to provide investment allowance at ______ for 3 years to the manufacturing company which invests more than Rs 25 crore in plant and machinery.

Correct Answer: (3) 15 %
Solution:The Union Budget 2014-15 proposed to provide investment allowance at the rate of 15 per. cent to a manufacturing company that invests more than Rs. 25 crore in any year in new plant and machinery. This benefit will be available for investments up to 31.03.2017. The scheme announced in 2013, to provide in-vestment allowance to manufacturing companies investing more than Rs. 100 crore in plant and machinery will continue till March, 2015.

8. Tamil parties recently their dissent against the visit of the Sri Lankan President to attend the oath-taking ceremony of Prime Minister Narendra Modi. Who is the Sri Lankan President?

Correct Answer: (1) Mahinda Rajapaksa
Solution:Tamil parties voiced their dis-sent against the visit of the Sri Lankan President Mahinda Rajapaksa due to the treatment meted out to the Indian Tamils in the country. Tamil Nadu politicians have been vocal critics of the Sri Lankan government, raising cases of alleged genocide of Tamils during the civil war against the LTTE.

9. What is Loan against Mortgage?

Correct Answer: (5) Both 2 and 3
Solution:Loan against Mortgage is basically credit/loan against any Immovable Property as guarantee. Il offers term loan/ overdraft facility for specified purpose against the security of immovable proper-ty (i.e. for investment in business, personal expenses etc.).

10. Ajit Doval was formerly Director of the Intelligence Bureau has been appointed as

Correct Answer: (2) National Security Advisor
Solution:Ajit Kumar Doval is an Indian intelligence officer, serving as Prime Minister Narendra Modi's National Security Advisor since 30 May 2014. He was formerly the Director of the Intelligence Bureau (India) in 2004-05, after spending a decade as the head of its operations wing.