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

Total Questions: 50

11. Which of the following correctly explains Call Money in the field of banking?

Correct Answer: (5) All of the above
Solution:Call-money is short-term finance repayable on demand, with a maturity period of one to fifteen days. used for inter-bank transactions. The money that is lent for one day in this market is known as "call money" and, if it exceeds one day. is referred to as "notice money.

12. What is the official web address of the Prime Minister of India?

Correct Answer: (1) www.pmindia.gov.in
Solution:www.pmindia.gov. official web address of the Prime Minister of India. The new web-site went live from May 26, 2014. The website encapsulates the Prime Minister's vision for a strong, developed and inclusive India.

13. Who, among the following, is the Managing Director and CEO of IMF?

Correct Answer: (1) Christine Lagarde
Solution:On 28 June 2011, Christine Lagarde was named managing director of the IMF, replacing Dominique Strauss-Kahn. Previous managing director Dominique Strauss-Kahn was arrested in connection with charges of sexually assaulting a New York hotel room attendant.

14. Who, at present, is Secretary, the Department of Economic Affairs?

Correct Answer: (3) Arvind Mayaram
Solution:Rajasthan cadre Indian Administrative Service officer Arvind Mayaram was appointed as secretary, Department of Economic Affairs (DEA), Union Ministry of Finance in July 2012. He was a joint secretary in DEA during 2005-2008 when P Chidambaram was the Union finance minister.

15. What is 'Credit Creation'?

Correct Answer: (1) Multiple expansion of deposits
Solution:One of the important functions of commercial bank is the creation of credit. Credit creation is the multiple expansions of banks demand deposits. The whole structure of banking is based on cred-it. Credit means getting the purchasing power (i.e., money) now by a promise to pay at some time in future.

16. Who is currently the Chief Minister of Andhra Pradesh?

Correct Answer: (1) N. Chandrababu Naidu
Solution:N. Chandrababu Naidu is the current Chief Minister of Andhra Pradesh. The Telugu Desam Party (led by Naidu) returned to power, in the state of Residual Andhra Pradesh (Seemandhra) winning 102 seats out of 175 seats in the recent assembly elections.

17. Who, at present, is the Attorney General of India?

Correct Answer: (2) Goolam Essaji Vahanvati
Solution:Mukul Rohatgi is the 14th and current Attorney General of India. He was formally appointed as Attorney General of India with effect from 12 June 2014 and shall have tenure of 3 years. He is a senior advocate at the Supreme Court of India.

18. In the budget session of Parliament on 9 July 2014, Union Finance Ministry disclosed that India's foreign exchange reserves at end March 2014 was

Correct Answer: (4) US$ 304.2 billion
Solution:As per the data revealed by the Union Finance Ministry on 9 July 2014, India's foreign exchange reserves increased from US$ 292.0 billion at end March 2013 to US$ 304.2 billion at end March 2014. The India's balance-of-payments position improved dramatically in 2013-14 with current ac-count deficit at US $ 32.4 billion as against US$ 88.2 billion in 2012-13.

19. Who is the youngest climber of Mt. Everest from India?

Correct Answer: (1) Malavath Purna
Solution:Malavath Purna from Andhra Pradesh became the youngest woman to scale Mt. Everest on 25 May 2014 at the age of 13 years, 11 months. She is just one month younger than the previous record-setter, an American boy who made the climb in 2010.

20. Which of the following companies is not a PSU of India?

Correct Answer: (4) ICICI Bank
Solution:ICICI Bank is a private Indian multinational banking and financial services company headquartered in Vadodara. As of 2014 it is the second largest bank in India in terms of assets and market capitalization.