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

Total Questions: 50

21. The recently launched 'Paytm Payments Bank' is permitted to open savings accounts wherein customers shall be able to hold maximum amounts of up to

Correct Answer: (2) Rs. 1,00,000
Solution:Payments bank is a differentiated bank which allows customers to open a savings account for a deposit amount of up to Rs1 lakh. Paytm Payments Bank Ltd rolled out its banking operations in May 2017. With its launch, there are now three payments bank in the country, including Airtel Payments Bank Ltd and India Post Payments Bank Ltd.

22. The 'External Commercial Borrowing' (ECB) guidelines and policies are regulated and monitored by the Reserve Bank of India along with

Correct Answer: (1) Department of Economic Affairs
Solution:The DEA (Department of Economic Affairs), Ministry of Finance, Government of India along with Reserve Bank of India, monitors and regulates ECB guidelines and policies. ECBs are loans in India made by non-resident lenders in for-eign currency to Indian borrowers. They are used widely in India to facilitate access to foreign money by Indian corpога-tions and PSUs.

23. Which of the following Indian businessman is amongst the Forbes list of annual '25 Global Game Changers' 2017 in transforming their industries and changing the lives of billions of people around the globe?

Correct Answer: (4) Mukesh Ambani
Solution:Mukesh Ambani was, in May 2017, named in the Forbes' second annual list of Global Game Changers that included 25 'intrepid business leaders' who are 'unsatisfied with status quo' and are "transforming their industries and changing the lives of billions of people around the globe." None other Indian made it to the list.

24. Under the NEFT system, fund transfers are presently settled at hourly intervals from 8 am to 7 pm on all workingdays in periodical batches. The RBI has recently announced to raise the number of hourly batches from 12 to

Correct Answer: (2) 23
Solution:In its first bi-monthly monetary policy of 2017-18 in April 2017, the RBI announced more batches under the NEFT to enhance efficiency and add to customer convenience. The RBI said additional 11 settlement batches at half hourly intervals will be introduced from 10 July, beginning from 8.30 am till 6.30 pm. With this, the total number of half hourly settlement batches during the day will increase to 23.

25. The Reserve Bank of India (RBI) has recently permitted banks to open 'banking outlets' in Tier-1 to Tier-6 centres without having the need to take RBI permission. The rationalization is however not applicable to

Correct Answer: (5) Regional Rural Bank
Solution:In its notification, titled "Rationalization of Branch Authorisation Policy- Revision of Guidelines," released in May 2017, the RBI said that domestic scheduled commercial banks (other than RRBs) are permitted to open, unless oth-erwise specifically restricted, banking outlets in tier 1 to tier 6 centres without having the need to take permission from RBI in each case. The rationalization is applicable to all Domestic Scheduled Commercial Banks (excluding RegionalRural Banks), Small Finance Banks, Payment Banks and Local Area Banks.

26. The 'International Fertiliser Industry Association' (IFIA) having about 500 members, worldwide including 68 countries is based in

Correct Answer: (4) Paris, France
Solution:The International Fertilizer Industry Association (IFA) is headquartered in Paris, France. It is a nonprofit organization that represents the global fertilizer industry, on issues related to the promotion of plant nutrients, improvement of the operating environment of the member companies and the collection and compilation of industry information.

27. The author of the book, 'Mann Ki Baat: A Social Revolution on Radio' is

Correct Answer: (1) Shri Rajesh Jain
Solution:The book "Mann Ki Baat: a social revolution on radio" has been authored by Rajesh Jain. It is a compilation of Prime Minister Narendra Modi's ad-dresses to the nation on radio every month under the programme 'Mann Ki Baat'. It contains a comprehensive, qualitative and academic analysis of 'Mann Ki Baat' - the themes, the choice of topics, the salient features.

28. According to the recent data (May 2017) released by the International Stainless Steel Forum (ISSF), the largest producer of Stainless Steel in the world in 2016 was

Correct Answer: (2) China
Solution:According to data released by the International Stainless Steel Forum (ISSF) at their annual conference held in To-kyo in May 2017, China was the largestproducer of Stain-less Steel in the world in 2016. India has pipped Japan to be-come the second largest stain-less steel producer in the world after China.

29. Who amongst the following has recently been elected as one of the members of 'Badminton World Federation' (BWF) Athletes' Commission?

Correct Answer: (4) P.V. Sindhu
Solution:Rio Olympic silver medalist P.V. Sindhu, on 24 May 2017, became a member of the BWF Athletes' Commission after voting closed for the four places on the representative bodyat Gold Coast, Australia. Apart from the Indian shuttler, Kirsty Gilmour of Scotland, Lithuania's Akvile Stapusa-ityte and Germany's Marc Zwiebler were elected.

30. Mobile Wallets which do not permit cash withdrawal as redemption, but allows customers to buy goods and services at billed merchants and perform financial services at billed locations are known as

Correct Answer: (4) Semi-closed Wallets
Solution:Semi-closed wallets can be used for purchase of goods and services, including financial services at a group of clearly identified merchant locations/establishments. These PPIs (Pre-paid Payment Instruments) can be used for third party purchase settlements and the specific contract be-tween the issuer and the merchant is needed for the use of these PPIs. Still, the semi-closed system payment instruments cannot be used for cash withdrawal or redemption by the holder.