RBI OFFICER GRADE ‘B’ PHASE-I EXAM Held on:18.08.2018 (Part-I)

Total Questions: 50

11. Which of the following is the current repo rate as per the recently announced bi-monthly monetary policy?

Correct Answer: (2) 6.50%
Solution:In its bi-monthly monetary policy, released on 1 August 2018, the Reserve Bank of India (RBI) hiked the repo rate by 25 basis points. With the latest hike, the repo rate now stands at 6.50 per cent. Repo rate is the rate at which the central bank lends money to the banks. The RBI also hiked the reverse repo rate (which now stands at 6.25 percent).

12. Golden Glove award was given to which of the following players in 2018?

Correct Answer: (1) Thibaut Courtois
Solution:Belgium goalkeeper Thibaut Courtois was awarded the 2018 Golden Glove Award in Mosco on 15 July, 2018. He became the second Belgian to win the accolade, after Michel Preud'homme claimed it in the 1994 World Cup in the United States. Until 2006, the award was called the Yashin Award in honour of the legendary Soviet goalkeeper, Yev Lashin.

13. Phone Pe has been launched by which of the following company?

Correct Answer: (1) Flipkart
Solution:PhonePe, that provides an online payment system based on Unified Payments Interface (UPI), was acquired by Flipkart in April 2016.

It originally received their licence to operate on 26th August, 2014 and began its operations in December 2015.It is licensed by the Reserve Bank of India for issuance and operation of a Semi Closed Prepaid Payment system.

14. Social Pay, this "first-of-its-kind service by any Indian bank" is available on Money 2 India (M2I), the bank's app for remittances. It has been launched by which of the following banks?

Correct Answer: (4) ICICI Bank
Solution:Leading private lender ICI-CI Bank, in April 2018, announced the launch of 'Social Pay' -a service that enables Non Resident Indians (NRIs) to send money to a beneficiary in India using social media plat-forms like WhatsApp and e-mail. This first-of-its-kind service is available on Money 2 India (M2I), the bank's app for remittances.

15. Truncated Cheques come under which of the following acts?

Correct Answer: (1) Negotiable Instruments Act, 1881
Solution:Truncated cheques come under Negotiable Instruments Act, 1881. Section 6 of the Act defines "a truncated cheque" as a cheque which is truncated during the course of a clearing cycle, either by the clearing house or by the bank whether paying or receiving payment, immediately on generation of an electronic image for transmission, substituting the further physical movement of the cheque in writing.

16. Under the Financial Resolution and Deposit Insurance Bill, the bail-in clause will affect which of the following?

Correct Answer: (3) Depositors
Solution:The Financial Resolution and Deposit Insurance Bill seeks to create a Resolution Corporation (RC) that will be in charge of winding down, reviving, or resolving in any other way an ailing financial company. It will be empowered with bail-in, in which a bank's liabilities can be cancelled or modified to shore up its finances. While a bail-out is the use of public funds to inject capital into an ailing company, a bail-in involves the use of depositors' funds to achieve those ends. This clause created a lot of alarm as it would put depositors' money in banks at risk.

17. Which state topped the index for the third time in Public Affairs Index 2018?

Correct Answer: (3) Kerala
Solution:According to Public Affairs Index (PAI) 2018, released by the think tank Public Affairs Centre (PAC) in July 2018, Kerala has topped PAI as the best-governed state for the third consecutive year since 2016 among large states. Tamil Nadu came second in the list, followed by Telangana, Karnataka and Gujarat. Madhya Pradesh, Jharkhand and Bihar ranked the lowest.

18. Which of the following received a whopping 300% FDI inflows?

Correct Answer: (5) Karnataka
Solution:According to RBI data presented in Parliament in July 2018, Karnataka saw 300% jump in FDI inflows in the 12 months ended March 2018. Karnataka received $8.58 billion in 2017/18, a sharp in-crease from the $2.13 billion in the previous fiscal. Tamil Nadu too saw a rebound reversing a slowdown in the preceding period, while Gujarat, Maharashtra and Andhra Pradesh all saw a drop in FDI inflows.

19. Which of the following will be the mascot for the 2020 Tokyo Olympic Games?

Correct Answer: (1) Miraitowa
Solution:Miraitowa, a big-eyed, blue-checked character, will be the official mascot of 2020 Tokyo Olympic Games. The name Miraitowa is a combination of the Japanese words for future and eternity, expressing "hope for a bright future stretching off forever." The mascot design was selected by elementary school children across Japan.

20. The Commonwealth Games, 2022 will be held in __________.

Correct Answer: (5) Brimingham, England
Solution:The 2022 Commonwealth Games, officially known as the XXII Commonwealth Games, be held in Birmingham, England, in July-August 2022. It will be the third time England has hosted the Games. Birmingham was awarded for the 2022 Games as Durban's replacement host.