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

Total Questions: 50

41. Which country recently scrapped its infamous One Child Policy?

Correct Answer: (2) China
Solution:China on 29 October 2015 allowed all couples to have two children and scrapped its decade-long One Child Policy. The decision is intended to balance population development and address the challenge of an ageing population.

42. Which character recognition technology is used by the banking industry to ease the processing and clearance of cheques and other documents?

Correct Answer: (1) MICR
Solution:Magnetic Ink Character Recognition Code (MICR Code) is a character-recognition technology used mainly by the banking industry to ease the processing and clearance of cheques and other documents. Unlike barcodes and similar technologies, MICR characters can be read easily by humans.

43. What is the currency of Tajikistan?

Correct Answer: (4) Somoni
Solution:The somoni is the currency of Tajikistan. It is subdivided into 100 diram. The currency is named after the father of the Tajik nation, Is-mail Samani. The somoni was introduced on 30 October 2000; it replaced the Tajiki-stani ruble.

44. Devaragunda Venkappa Sadananda Gowda is a member of the 16th Lok Sabha representing the _________ constituency.

Correct Answer: (1) Bangalore North
Solution:D. V. Sadananda Gowda is a member of the 16th Lok Sab-ha representing the Bangalore North constituency. Earlier, he was the 20th Chief Minister of Karnataka and is currently the Minister of Law and Justice in the Government of India. He was shifted from the Ministry of Railways in the cabinet reshuffle of 9 November 2014.

45. Union Home Minister Rajnath Singh recently flagged off the much-awaited AC double-decker train for ______ from New Delhi.

Correct Answer: (3) Lucknow
Solution:Union Home Minister Rajnath Singh, in April 2015, flagged off the much-awaited AC double-decker train for Lucknow from New Delhi. There had been a demand for the double-decker train from residents of Lucknow. The AC double-decker train will be a bi-weekly service.

46. The RBI recently granted in-principle nod to 10 entities for small banks. The "in-principle" approval will be valid for ______ months to enable these entities comply with the guidelines on Small Finance Banks.

Correct Answer: (5) 18 months
Solution:Seeking to promote financial inclusion, RBI, on 26 September 2015 granted approval to 10 entities to set up Small Finance Banks. The "in-principle" approval will be valid for 18 months to enable these entities comply with the guide-lines on Small Finance Banks. The Small Finance Banks can provide basic banking services like accepting deposits and lending to the unbanked sections such as small farmers, micro business enterprises, MSMEs, etc.

47. Which company recently became the first listed company to sign the revised listing agreement with the Bombay Stock Exchange and National Stock Exchange?

Correct Answer: (1) Reliance Industries Limited
Solution:Reliance Industries Limited (RIL) declared on 27 October 2015 that it signed the re-vised listing agreement with the Bombay Stock Exchange and National Stock Exchange as mandated under the newly introduced Listing Regulation notified by Securities and Exchange Board of India (SEBI). With this, RIL became the first listed company to conform to SEBI norms.

48. What is Electronic Clearing Service?

Correct Answer: (2) Electronic mode of funds transfer from one bank account to another
Solution:Electronic Clearing Service (ECS) is an electronic clearing system that facilitates paperless credit / debit transaction directly linked to our account and also provides for a faster method of effecting periodic and repetitive payments. ECS can be used for both credit and debit purposes.

49. IDFC Bank Ltd. started operations on ______ 2015.

Correct Answer: (4) 1 October
Solution:IDFC Bank started operations on 1 October 2015, becoming the 91st scheduled commercial bank in the country. IDFC received a universal banking licence from the Re-serve Bank of India (RBI) in July 2015. IDFC Bank is head. quartered in Mumbai, Maharashtra.

50. Facebook Founder Mark Zuckerberg recently came to India. During his visit, he addressed the students of

Correct Answer: (4) University of Delhi
Solution:During his visit in October 2015, Facebook CEO Mark Zuckerberg addressed students at the Indian Institute of Technology (IIT) in Delhi. He spoke of his company's initiatives and addressed issues such as Net Neutrality and Internet access.