RBI OFFICER GRADE ‘B’ PHASE-I EXAM Held on : 22.11.2015 (Part-II)

Total Questions: 50

21. National Pension Scheme is open to all citizens of India between the ages of 18 and

Correct Answer: (3) 60 years
Solution:NPS is open to all citizens of India between the ages of 18 and 60 on a voluntary basis It is mandatory for central government employees appointed on or after 1 January 2004, except for members of the armed forces, to have a tier-1 NPS pension.

22. Neeranchal National Watershed Project is related to

Correct Answer: (1) Irrigation
Solution:The World Bank-assisted 'National Watershed Management Project' or 'Neeranchal aims to fulfil the watershed component of the Pradhan Mantri Krishi Sinchai Yojana (PMSKY) to reduce surface runoff of rainwater, increase groundwater levels and better water availability in rain-fed areas. It is assisted by the World Bank.

23. MUDRA Bank has been launched to help

Correct Answer: (1) Small business
Solution:Prime Minister Narendra Modi, in April 2015, launched Micro Unit Development and Refinance Agency, or MUDRA to fund and promote microfinance institutions (MFIs). which would in turn provide loans to small and vulnerable sections of the businesses. MUDRA will have an initial corpus of Rs 20,000 crore and a credit guarantee corpus of Rs 3,000 crore.

24. In the acronym RTGS, the letter 'R' stands for

Correct Answer: (1) Real
Solution:The acronym 'RTGS' stands for Real Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds individually on an order by order basis (without netting). 'Real Time' means the processing of instructions at the time they are received rather than at some later time.' The RTGS system is primarily meant for large value transactions.

25. In EMI, 'E' stands for

Correct Answer: (4) Equated
Solution:EMI stands for Equated Monthly Installment. It fixed payment amount made by a borrower to a lender at a speсified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month, so that over a specified number of years, the loan is paid off in full."

26. MUDRA Bank has been launched

Correct Answer: (4) Both 1 and 2
Solution:The Micro Units Development Refinance Agency (MUDRA) Bank will provide credit of up to Rs 10 lakh to small entrepreneurs and act as a regulator for 'Micro-Finance Institutions' (MFIs). It will provide its services to small entrepreneurs outside the service area of regular banks, by using last mile agents. It will also ensure that its clients do not fall into indebtedness.

27. Which of the following banks was/were recently declared as 'Domestic Systemically Important Banks' by the RBI?

Correct Answer: (4) Both 1 and 2
Solution:The Reserve Bank of India (RBI) on 31 August 2015 declared State Bank of India (SBI) and ICICI Bank as Domestic Systemically Important Banks (D-SIBs). This selection was made on the methodology provided in the D-SIB Framework and data collected from banks as on 31 March 2015.

28. The International Bank for Reconstruction and Development (IBRD) is an international financial institution that offers loans to middle-income countries.

Correct Answer: (3) Developing
Solution:The International Bank for Reconstruction and Develop-ment (IBRD) is an interna-tional financial institution that offers loans to middle-income developing countries. The IBRD is the first of five member institutions that compose the World Bank Group and is headquartered in Washington, D.C., United States. It was established in 1944.

29. Prathama Bank, the first Regional Rural Bank of India, is sponsored by

Correct Answer: (1) Syndicate Bank
Solution:Prathama Bank, the first Regional Rural Bank of India, is sponsored by Syndicate Bank. It was established on 2nd October, 1975, with its Head Office at Moradabad. It is a scheduled Bank and is placed under the IInd schedule of Reserve bank of India. The Bank is operating in 4 districts namely Moradabad, Rampur, Amroha and Sambhal districts.

30. In the first ever merger of two regulators, over 60-year-old commodities regulatory body Forward Markets Commission (FMC) recently merged with the capital markets watchdog SEBI. The merger was precipitated with the National Spot Exchange Ltd. scam, which involved a payment crisis of more than _______________ crore.

Correct Answer: (1) Rs. 5,000 crore
Solution:The merger was precipitated with the National Spot Ex-change Ltd. scam, which involved a payment crisis of more than Rs. 5000 crore. This was considered a regulatory failure by the FMC. This is the first major case of two regulators being merged.