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

Total Questions: 50

1. Which of the following two banks have recently (July 2016) become first domestic banks to sign up for the Swift's global payments innovation initiative which aims to enhance cross-border payments?

Correct Answer: (1) ICICI Bank and Axis Bank
Solution:SWIFT, on 25 July 2016, announced that SWIFT ICICI Bank and AXIS Bank are the first Indian banks to sign up for its global payments innovation initiative. The Belgium-based Swift is a global member-owned cooperative and a leading provider of secure fi-nancial messaging services.

2. The alphabet 'D' in the abbreviation 'NDTL', commonly used in banking world, stands for

Correct Answer: (1) Demand
Solution:NDTL stands for Net Demand and Time Liabilities. NDTL shows the difference between the sum of demand and time liabilities (deposits) of a bank (with the public or the other bank) and the depos-its in the form of assets held by the other bank.
Bank's NDTL = Demand and time liabilities (deposits) - deposits with other banks

3. The 'Mahabodhi Temple' a UNESCO World Heritage site is situated in the Indian state of

Correct Answer: (3) Bihar
Solution:The Mahabodhi Templeis a Buddhist temple in Bodh Gaya, Bihar. It marks the lo-cation where the Buddha is said to have attained enlight-enment. The site contains a descendant of the Bodhi Tree under which Buddha gained enlightenment. It is a UNESCO World Heritage Site.

4. The 750 MW Rewa Ultra-Mega solar power project, the largest single-site solar power project in the world is proposed to be set up in the Indian State of

Correct Answer: (5) Madhya Pradesh
Solution:Rewa Ultra Mega Solar is a proposed solar power plant in the Rewa district of Madhya Pradesh, with a total solar in-stalled capacity of 750 MW. The park is being developed by Rewa Ultra Mega Solar Ltd (RUMS), a joint venture be-tween the Solar Energy Corporation of India (SECI) and Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL). Once completed in 2017, it would become the largest single-site solar power plant in India and the world.

5. SMERA Limited, a popular body in the financial world, is a full service

Correct Answer: (5) Credit Rating Agency
Solution:SMERA Ratings Ltd (SMERA) is a full service cred-it rating agency exclusively set up for micro, small and medium enterprises (MSMEs) in India. It is a joint initiative by SIDBI, Dun & Bradstreet In-; formation Services India Private Limited and several leading banks in the country.

6. The seven member working group constituted by the IRDAI to study the scope of introduction of 'Title Insurance' in the Indian market is headed by

Correct Answer: (1) Suresh Mathur
Solution:IRDA, in June 2016, decided to constitute a 7-member working group, headed by its Senior Joint Director Suresh Mathur, to study the scope of Title Insurance' in the Indian market. The group will study the need and scope for such a product in the domestic market and identify the insurable risk and define the compensation structure.

7. The PM Kaushal Vikas Yojana (PMKVY) which aims to impart skill training to one crore people over the next four years (2016-2020) has a total outlay of

Correct Answer: (5) Rs. 12,000 crore
Solution:The Union Cabinet, on 13 July 2016, approved the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) with an outlay of Rs.12000 crores to impart skilling to one crore people over the next four years (2016-2020). PMKVY will impart fresh training to 60 lakh youths and certify skills of 40 lakh persons acquired non-formally under the Recognition of Prior Learning (RPL).

8. The initiative of the HRD Ministry 'SWAYAM' is a

Correct Answer: (2) Massive Open Online Courses (MOOC) Platform
Solution:SWAYAM (Study Webs of Active-Learning for Young Aspiring Mind) is an Information Technology platform which will host Massive Open Online Courses (MOOCs). It will pro-vide high quality education on various subjects from school level-class 9-12 to Under Graduate and Post Graduate students- covering all disciplines. About 2000 courses shall be launched backed by a network that is expected to support 10 lakh concurrent users on anytime, anywhere basis.

9. The 'Desert-Eagle II' air combat exercise was recently (June 2016) conducted by the Indian Air Force with its counterpart in

Correct Answer: (1) United Arab Emirates
Solution:Desert Eagle II was the second in the series of bilateral exercises between Indian Air Force (IAF) and United Arab Emirates Air Force (UAE AF), that concluded at Al-Dhafra Air Base, Abu Dhabi, on 3 Jun 2016. It was a ten-day air combat exercise in which the IAF and the UAE Air Force under-took air exercises.

10. 'MobiKwik is the name of a

Correct Answer: (1) Mobile wallet and online payment system
Solution:MobiKwik is a mobile wallet and online payment system where a user can store money in an online "wallet" to make mobile and DTH recharge, pay utility bills, and shop at listed merchants. It provides users the option to add money using their debit or credit card, net banking, and 'cash pay', a doorstep cash collection service. MobiKwik wallet is a semi closed wallet authorized by Reserve Bank of India.