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

Total Questions: 50

11. The Reserve Bank of India (RBI) has recently (July, 2016) set up an inter-regulatory working group on digital banking in India. The group is headed (Chairman) by

Correct Answer: (1) Sudarshan Sen
Solution:Sudarshan Sen, Executive Director, RBI, is the chairman of Inter-Regulatory Working Group on Fin Tech and Digital Banking that was set up by the Reserve Bank of India on 14 July 2016. The working group was set up in view of the growing significance of Fin Tech innovations and their interactions with the financial sector as well as the financial sector entities.

12. The 2016 SAARC interior Minister's conference was recently (August 2016) was recently held in

Correct Answer: (2) Islamabad, Pakistan
Solution: The SAARC Interior Ministers' conference was held in Islamabad, Pakistan, in August 2016. India was represented at the summit by Home Minister Rajnath Singh. He raised the issue of cross-border terrorism at the summit, taking direct jibes at Pakistan.

13. The Central Government has approved Rs. 1601 crore skill development initiative 'Himayat' to train 1.24 lakh youths in vocational courses in the Indian state of

Correct Answer: (5) Jammu and Kashmir
Solution:The Union Government, in July 2016, approved nearly 1,600 crore rupees for Jammu and Kashmir (J&K) under skill development initiative 'Himayat' programme. Under it, youths from both rural and urban areas of J&K would be imparted with training in various job-intensive vocational courses over the next three years.

14. The Government has constituted a committee to study the feasibility of adopting a new Financial Year. The committee is headed by

Correct Answer: (3) Shankar Acharya
Solution:The Government, in July 2016, constituted a committee headed by former chief economic advisor Shankar Acharya to study the feasibility of adopting a new financial year. India currently follows the April-March financial year as opposed to the calendar year in most countries. The committee has to submit its report by December 31, 2016.

15. Reserve Bank of India (RBI) has asked banks to pay interest on Saving bank account on

Correct Answer: (2) Quarterly or shorter duration
Solution:The Reserve Bank, in March 2016, asked banks to pay interest on savings banks account on quarterly basis or shorter duration, a move which will benefit crores of savings account holders. At present, the interest is credited in savings bank account on half-yearly basis. Interest rate on savings bank account is calculated on daily basis since April 1, 2010.

16. The '2016 Kabaddi World Cup' shall be hosted by

Correct Answer: (3) India
Solution:The 2016 Kabaddi World Cup is the eighth edition of the Kabaddi World Cup, that will be held from 7 to 22 October 2016 in Ahmedabad, Gujarat, India. The men's tournament will feature 12 teams: India, USA, Thailand, England, Australia, Iran, Poland, Argentina, Bangladesh, South Korea, Japan and Kenya. India is hosting the World cup for the third time.

17. The Indian celebrity who has recently (July 2016) been named as the face of the 'City Compost Campaign' by the Urban Development Ministry is

Correct Answer: (3) Amitabh Bachchan
Solution:Bollywood megastar Amitabh Bachchan was, in July 2016, announced as the face of the "City Compost Campaign" under Swachh Bharat Mission to encourage citizens to use compost produced from municipal solid waste. He will appeal to all citizens, nursery owners and horticulture agencies to use only city compost in their gardens, farm houses and public gardens.

18. State Bank of India (SBI) has recently unveiled a new home loan scheme as 'SBI Privilege Home Loan' wherein the loan can be repaid till 75 years of age. The scheme specifically addresses the home loan needs of the

Correct Answer: (1) Government employees
Solution:State Bank of India (SBI), in August 2016, unveiled 'SBI Privilege Home Loan' scheme targeted at government employees, the beneficiaries of the seventh pay commission recommendations. The product is aimed at helping government employees use their surplus income towards purchase of new / better house.

19. The recently released book 'Courage and Commitment: An Autobiography' is written by the former Union Minister

Correct Answer: (2) Margaret Alwa
Solution:The book "Courage & Commitment: An Autobiography" has been authored by Margaret Alva. It narrates the author's 44-year career under four Prime Ministers- Indira Gandhi, Rajiv Gandhi, PV Narasimha Rao and Manmohan Singh. It also tells about her transition from politician to Governor.

20. The initial plantation drive under the 'National Green Highway Mission' (NGHM) was recently (July 2016) launched by Union Road Transport and Highways Minister Nitin Gadkari in

Correct Answer: (3) New Delhi
Solution:Union Minister of Road Transport & Highways and Shipping Shri Nitin Gadkari, on 21 July 2016, launched the initial plantation drive on 1,500 km of National Highways at a cost of about Rs 300 crore under the National Green Highways Mission in New Delhi. The launch was announced at a workshop organized by the National Green Highways Mission.