RBI OFFICER GRADE ‘B’ PHASE-I EXAM Held on : 28.05.2022 (Part-IV)

Total Questions: 50

21. Which country recently committed 10 billion euros for green projects in India by 2030?

Correct Answer: (3) Germany
Solution:

Germany on 2 May 2022 committed to provide additional support worth euro 10 billion to India by 2030 to support green growth initiatives.
● The commitment came during Prime Minister Narendra Modi’s visit to the country.

22. What is the current number of Debts Recovery Tribunals (DRTs) functioning across India?

Correct Answer: (4) 39
Solution:

At present, 39 Debts Recovery Tribunals (DRTs) and 5 Debts Recovery Appellate Tribunals (DRATs) are functioning across the country.
● The Debts Recovery Tribunals (DRTs) and Debts Recovery Appellate Tribunals (DRATs) were established under the Recovery of Debts and Bank- ruptcy Act (RDB Act), 1993.
● Objective: to provide expeditious adjudication and recovery of debts due to Banks and Financial Institutions.

23. The Reserve Bank recently announced a hike in cash reserve ratio (CRR) to ___ effective from 21 May 2022.

Correct Answer: (4) 4.5%
Solution:

The Reserve Bank on 4 May 2022 announced a hike in Cash Reserve Ratio (CRR) by 50 basis points to 4.5 percent, effective from 21 May 2022.
● The increase in CRR will take out Rs 87,000 crore liquidity from the system.
● The decision was announced by RBI Governor Shaktikanta Das after an off-cycle meeting of the Monetary Policy Committee (MPC).

24. What is the total number of members in Organisation for Economic Co-operation and Development (OECD)?

Correct Answer: (4) 38 members
Solution:

OECDis an intergovern- mental organisation with 38 member countries.
● It was founded in 1961 to stimulate economic progress and world trade.

25. Which of the following statements is not correct regarding Atal Pension Yojana?

Correct Answer: (2) The eligible Atal Pension Yojana age limit is 18 and up to 30 years
Solution:

The eligible Atal Pension Yojana age limit is 18 and up to 40 years.
● The minimum period of contribution will be 20 years.
● The Government co- contribution is payable to eligible Permanent Retirement Account Number (PRANs) by the Pension Fund regulatory and Development Authority.

26. The government on 3 June 2022 approved lowering interest rate on employees' provident fund (EPF) to 40 year low of ___ per cent for financial year 2021-22.

Correct Answer: (4) 8.1 per cent
Solution:

The government approved lowering interest rate on EPF to 40 year low of 8.1 per cent for financial year 2021-22.
● With this reduction, the EPF interest rate is lowest since 1977-78, when it stood at 8 per cent.

27. Which of the following was/ were the outcomes of the Monetary Policy Committee (MPC) in April 2022?

Correct Answer: (3) It raised the inflation forecast for the fiscal year to 5.7% percent
Solution:

In the MPC meet of 8 April 2022, the RBI veered further away from the central banks of the Western world as it retained status quo on interest rates.
● It kept the monetary stance accommodative to beat a possible slowdown in economic activity due to geopolitical tensions.
● It raised the inflation forecast for the fiscal year to 5.7% per- cent, from 5.5 percent citing rising commodity prices.

28. What is the maximum deposit amount insured by the Deposit Insurance And Credit Guarantee Corporation (DICGC)?

Correct Answer: (4) Rs. 5 lakhs
Solution:Each depositor in a bank is insured up to a maximum of Rs. 5,00,000 (Rupees Five Lakhs) for both principal and interest amount held by him in the same right and same capacity as on the date of liquidation/cancellation of bank's licence or the date on which the scheme of amalgamation/merger/reconstruction comes into force.

29. Which of the following information is not mandatory in aMemorandum of Association (MoA)?

Correct Answer: (2) Objective Clause
Solution:

The compulsory clauses of a MoA of a company are as follows:
● Name clause.
● Registered Office Clause.
● Object Clause.
● Liability Clause.
● Capital Clause.
● Association Clause.
● One-Person Company Clause.

30. Which of the following sectors does not come under the top 5 sectors under the National Monetisation Pipeline (NMP)?

Correct Answer: (5) None of the above given as options
Solution:

The top 5 sectors include: Roads (27%) followed by Rail- ways (25%), Power (15%), oil & gas pipelines (8%) and Telecom (6%).
● The top 5 sectors (by estimated value) capture ~83% of the aggregate pipeline value.