RBI OFFICER GRADE ‘B’ PHASE-I EXAM Held on : 17.06.2017(Part-I)

Total Questions: 50

11. The 2017 'North Atlantic Treaty Organisation' (NATO) Summit was recently (May 2017) held in

Correct Answer: (4) Brussels, Belgium
Solution:The 28th edition of North Atlantic Treaty Organization (NATO) summit was held in Brussels, Belgium, in May 2017. The top agenda of the meeting was terrorism and to fight against Islamist terrorism. The 2018 NATO summit will be held in Istanbul, Turkey.

12. The 'CGFMU' is a Credit Guarantee Fund established for guaranteeing loans sacrificed under the

Correct Answer: (2) PMMY Scheme
Solution:Credit Guarantee Fund for MUDRA Units (CGFMU) has been established for guaranteeing loans sanctioned under Pradhan Mantri Mudra Yojana (PMMY). It aims to reduce the credit risk to Banks/NBFCs/MFIs/other financial intermediaries, who are Member Lending Institutions (MLIs).

13. The 'Federation of Indian Chamber of Commerce and Industries' (FICCI) Smart Policing Award for the year 2017 has recently (May 2017) been conferred upon

Correct Answer: (2) Pune City Police
Solution:The Pune city police, in May 2017, received the FICCI Smart Police Award for the year 2017 for their initiatives on women and cyber security. It has also launched initiatives like "Lost & Found" portal, Beat Marshal Monitoring Sapience App, and Tenant Information System.

14. Which of the following is an integrated payment system which uses the customer's Smart or Credit Card by scanning a code of the merchant's place?

Correct Answer: (3) Bharat QR
Solution:Bharat QR is an integrated payment system that uses mobile phone to pay through debit or credit card by scanning a code at the merchant's place. It does away with the need to physically swipe debit or cred-it cards. As of now, RuPay, MasterCard, VISA and American Express cards can be linked to pay through Bharat QR.

15. Disha Microfin Private Limited has recently (May 2017) received the final approval from the Reserve Bank of India to commence

Correct Answer: (5) Small Finance Bank
Solution:Disha Microfin Pvt Ltd, part of Fincare Business Services, in May 2017, received a licence from the RBI to form a small finance bank. The new entity will be called Fincare Small Finance Bank. The bank will continue to focus on the priority sector and retail segments, and will additionally offer products such as gold loans and affordable housing loans.

16. With an intention of increasing Digital transactions, the Reserve Bank of India has recently permitted cooperative banks to deploy their own or third party point of sale terminals only if their net assets are more than

Correct Answer: (2) Rs. 25 crore
Solution:The RBI, in April 2017, said that cooperative banks can deploy their own points of sale terminals only if their net as-sets are more than Rs 25 crore, gross NPAs less than 7 per cent and no monetary penalty should have been imposed for two financial years. Also, the bank's IT systems & core banking solution should have been subjected to an audit not earlier than six months from application to confirm that the system is adequately secure.

17. 'Kanwar Pal Singh Gill' who recently (May 2017) passed away at the age of 82 was a former

Correct Answer: (2) Indian Police Officer
Solution:Kanwar Pal Singh Gillwas an Indian police officer who served twice as Director General of Police (DGP) for the state of Punjab, where he is credited with having brought the Punjab insurgency under control. He has been called a "supercop", for his work in Punjab.

18. The currency of the 'Republic of Maldives' is

Correct Answer: (4) Rufiyaa
Solution:The Maldivian unit of currency is the rufiyaa. The name "rufiyaa" is derived from the Sanskrit rupya (wrought silver). Introduced in 1947, the rufiyaa is divided into 100 laari. The issuance of the currency is con-trolled by the Maldives Monetary Authority (MMA).

19. A new cheaper, quicker and pollution-free 'soil-to-soil technology to manufacture 'biofuel' has recently (June 2017) been developed by researchers at

Correct Answer: (4) IIT-Kharagpur
Solution:Researchers at the P.K. Sin-ha Centre at IIT Kharagpur, in May 2017, developed a new technology which will change the way biofuel is manufactured by making the process cheaper, quicker and pollution-free. The project is funded by the Ministry of Petroleum and Natural Gas, Department of Science and Technology and the Ministry of Human Re-source Development.

20. The 'European Extremely Large Telescope' which when completed will be the world's largest optical telescope is being set up on a 3,000 meter high mountain in

Correct Answer: (5) Atacama Desert in Chile
Solution:Construction began in Chile on the European Extremely Large Telescope on 26 May 2017, which when completed will be the world's largest optical telescope, some five times larger than the top observing instruments in use to-day. Located on a 3,000-meter-high mountain in the middle of the Atacama Desert, it is due to begin operating in 2024.