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

Total Questions: 50

41. According to recent (July, 2016) __________ is introducing the facility of 'Paperless SIP' (Systematic Investment Plans) that would allow mutual fund investors to make transactions through various modes of payments.

Correct Answer: (3) Bombay Stock Exchange (BSE) Limited
Solution:In a circular issued on 12 July 2016, Bombay Stock Exchange (BSE) announced to introduce 'Paperless SIP' (systematic investment plans) that would allow mutual fund in-vestors to make transactions through various modes of payments. The additional feature on BSE's mutual fund plat-form - STAR MF - would allow MF distributors to register SIPs for their clients, who can pay SIP amounts through various modes.

42. As a follow up to the budget announcement, the Government of India has recently (April, 2016) set up a committee to prepare a blueprint for doubling farm incomes by 2022. The committee is headed by

Correct Answer: (5) Ashok Dalwai
Solution:The Government, on 22 April 2016, set up an eight-member committee, headed by Ashok Dalwai, Additional Secretary at the Agriculture Ministry, to prepare a blueprint for doubling farmers' income by 2022. The committee will chalk out a plan to shift farm policies from being productionoriented to based on in-comes.

43. The 'Reverse repo' operations of the RBI are meant to

Correct Answer: (1) absorb the liquidity of the system
Solution:Reverse repo operation is when RBI borrows money from banks by lending securities. The interest rate paid by RBI in this case is called the re-verse repo rate. Reverse repo operation therefore absorbs the liquidity in the system. The collateral used for repo and re-verse repo operations are Government of India securities.

44. SBI Life Insurance Limited is a joint venture life insurance company of State Bank of India (SBI) and

Correct Answer: (4) BNP Paribas Cardif
Solution:SBI Life Insurance is a joint venture between State Bank of India and BNP Paribas Cardif. SBI owns of the total capital and BNP Paribas Cardif the remaining . SBI Life Insurance has an authorized capital of Rs. 2,000 crores and a paid up capital of Rs 1,000 crores.

45. The 'Bank of Nova Scotia' operating as 'Scotiabank' is headquartered in

Correct Answer: (1) Toronto, Canada
Solution:The Bank of Nova Scotia, operating as Scotiabank, is a Canadian multinational bank that is headquartered in Toronto, Ontario. It is the third largest bank in Canada by deposits and market capitalization. It serves more than 23 million customers in over 55 countries around the world.

46. The Cabinet Committee on Economic Affairs (CCEA) has recently (July, 2016) approved setting up of 1,980 mw 'Ghatampur Thermal Power Project' at a estimated cost of Rs. 17,237.8 crore in the Indian State of

Correct Answer: (4) Uttar Pradesh
Solution:The Cabinet Committee on Economic Affairs (CCEA), on 20 July 2016, approved setting up of 1,980-mw Ghatampur thermal power project at an estimated cost of Rs 17,237.8 crore in Uttar Pradesh. The power project will be installed through a joint venture company named Neyveli Uttar Pradesh Power Ltd (NUPPL), formed jointly by Neyveli Lignite Corporation (NLC) and Uttar Pradesh Rajya Vidyut Utpadan Nigam (UPRVUNL).

47. The proposed India Post Payments Bank (IPPB) is stated to have a total corpus of

Correct Answer: (5) Rs. 800 crore
Solution:The Union Cabinet, on 2 June 2016, cleared the proposal to set up India Post Payments Bank (IPPB) with a corpus of Rs 800 crore and a plan for 650 branches operational by September 2017. It will be scaled up further to cover the entire country by the end of 2018-19. IPPB received the certificate of incorporation from the Registrar of Companies in August 2016.

48. The author of the recently released book: "Who Moved My Interest Rate?" is former Governor of the Reserve Bank of India, known by the name

Correct Answer: (3) Dr. D. Subbarao
Solution:'Who Moved My Interest Rate?: Leading the Reserve Bank of India Through Five Turbulent Years' has been authored by former RBI Governor Duvvuri Subbarao. Subbarao was the governor of the Reserve Bank of India from 2008 to 2013. The book gives an insider's account of the international fight to restore stability in the years after the Lehman collapse.

49. Pursuant to the announcement in the Union Budget 2016-17 regarding reforms in FDI limit for foreign entities in Indian stock exchanges, from 5% to

Correct Answer: (2) 15% on par with domestic institutions
Solution:The Union Cabinet, on 27 July 2016, gave its approval for the enhancement of investment limit for foreign entities in Indian stock exchanges from 5% to 15% on par with domestic institutions. The limit was raised for a stock ex-change, a depository, a banking company, an insurance company, a commodity derivative exchange.

50. During his recent (July 2016) four nation Africa tour, Prime Minister Narendra Modi visited 'Maputo', the capital city of

Correct Answer: (5) Mozambique
Solution:Maputois the capital and largest city of Mozambique. It was earlier known as Lourenço Marques. Today, it is known as the City of Acacias, in reference to acacia trees commonly found along its avenues, and the Pearl of the Indian Ocean.