RBI OFFICER GRADE ‘B’ PHASE-I EXAM Held on : 04.09.2016 (Shift-II)(Part-I)

Total Questions: 50

1. The Reserve Bank of India has recently set up a committee to study Indian household Financing pattern and why they spend large sum of money on gold. The panel is headed by

Correct Answer: (2) Tarun Ramadorai
Solution:The panel is headed by Tarun Ramadorai, professor of Financial Economics, University of Oxford. It has representation from financial sector regulators, Sebi, Irdai, PFRDA apart from RBI. The panel will look at various facets of household finance in India and to benchmark India's position vis-a-vis both the peer and advanced countries.

2. The 'Hopman Cup' is associated with the game of

Correct Answer: (3) Tennis
Solution:The Hopman Cup is an annual international eight-team indoor hardcourt tennis tournament held in Perth, Western Australia in early January each year, which plays mixed-gender teams on a country-by-country basis. The championship is named in honour of Harry Hopman who guided Australia to 15 Davis Cup titles between 1938 and 1969.

3. The 'CGFMU' is a Credit Guarantee Fund for guaranteeing loans sanctioned under the

Correct Answer: (4) PMMY Scheme
Solution:The Union Cabinet, in January 2016, approved the creation of Credit Guarantee Fund for MUDRA Units (CGFMU) for guaranteeing loans sanctioned under Pradhan Mantri Mudra Yojana with effect from 8th April, 2015. It is aimed to reduce the credit risk to Banks/NBFCs/MFIs/ other financial intermediaries, who are Member Lending Institutions (MLIs).

4. 'Aadiperukku' commonly known as the 'Aadi Monsoon Festival' is celebrated during months of July/August in the Indian State of

Correct Answer: (2) Tamil Nadu
Solution:Adiperukku is a Hindu Tamil festival celebrated on the 18th day of the Tamil month of Adi (mid-July to mid-August) in Tamil Nadu. The festival pays tribute to water's life-sustaining properties. It is celebrated near river basins, water tanks, lakes and wells etc. of Tamil Nadu when the water level in the rises significantly heralding the onset of Monsoon.

5. Pandit Lacchu Maharaj who recently (July 2016) dies at the age of 72 in Varanasi was renowned

Correct Answer: (3) Tabla Maestro
Solution:Pandit Lacchu Maharaj was an Indian tabla player of Benaras gharana. Other than his professional performances all over the world, he played the tabla in many Bollywood films. He passed away in Varanasi in July 2016.

6. 'Andy Murray' is associated with the game of

Correct Answer: (4) Lawn Tennis
Solution:Andy Murray is a Scottish professional tennis player currently ranked world No. 2 in men's singles. Murray represents Great Britain in his sporting activities and is a three-time Grand Slam tournament winner, two-time Olympic champion and Davis Cup champion.

7. With a view to curb illegal wealth in the economy, the Special Investigation Team (SIT) on black money has recommended ban on cash transactions of

Correct Answer: (4) Rs. 3 lakhs and above
Solution:The Special Investigation Team (SIT) on black money, in July 2016, recommended ban on cash transactions of above Rs 3 lakh and restricting cash holding with individuals to not more than Rs 15 lakh to curb illegal wealth in the economy. The SIT is headed by Justice M B Shah.

8. According to the Census 2011, the Indian State which had the best Sex (male-female) ratio of 1,084 females for 1000 is

Correct Answer: (3) Kerala
Solution:According to Census 2011, Kerala has the best Sex (male-female) ratio of 1,084 females per 100 males. With a sex ratio of 1037, Puducherry comes first among union territories and second among states & UTs combined.

9. The set up of India's very own GPS has been completed recently (April, 2016) with the launch of the seventh navigation satellite

Correct Answer: (3) IRNSS-1G
Solution:The setup of India's own navigational system was completed in April 2016 with the launch of the seventh and final satellite of the Indian Regional Navigation Satellite System, the IRNSS 1G. India's navigational system will be called NAVIC (Navigation with Indian Constellation).

10. The 'Atal Pension Yojana' (APY) is a scheme focused on workers in the unorganised sector. The minimum period of contribution by the subscribers under the scheme is at least

Correct Answer: (2) 20 years
Solution:The minimum age of joining APY is 18 years and maximum age is 40 years. Therefore, minimum period of contribution by the subscriber under APY would be 20 years or more. Under the APY, the subscribers would receive the fixed pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contributions, which itself would vary on the age of joining the APY.