Dear Aspirants,
As IBPS has released the its official calendar of Online CWE for RRBs and PSBs examinations 2019, so its high time to start preparations for the coming year. Looking at the calendar, we have now started subject-wise quizzes for the exam. It will include quizzes of all the subjects- Quantitative Aptitude, English, Reasoning and Computer. All these quizzes will be strictly based on the latest pattern of all the upcoming competitive exams and will be beneficial for your preparations. So, keep following the quizzes which will provide you a set of 10 questions daily.
Here, we are providing you important questions of English Language for all banking exams.
Q1-10. Read the following passage carefully and answer the questions given below it certain words are given in bold to help you locate them while answering some of the questions.
Many non-banking finance companies (NBFCs) keen on a new banking license would be stumped by the RBI's condition that new banks should have at least 25% of their branches in rural areas. The RBI says the rule is meant to avoid over-concentration of bank branches in urban areas with adequate banking presence. The defence is weak, given that established banks have not found it worth their while to open branches in the hinterland due to the high costs involved in such operations. So, it is a bad idea for the regulator to replicate the same model and make new banks waste capital.
The RBI must give up the notion that financial inclusion can be achieved only through expansion of branch networks to unbanked areas. NBFCs that do not have rural branches reach their rural customers through agents and customer relationship associates. Banks too were supposed to hire banking correspondents (BCs) to collect deposits and deliver cash in remote areas. There are around 1.5 lakh BCs, but that is not a huge number to cover a large unbanked country like India with 6,5, villages. Such a model with restricted payments and transfer functions has failed and also money seldom reaches people when they need it.
The way ahead is for the RBI to allow innovative forms of banking and the use of technology on a massive scale to reduce costs. Of course, mobile phones serve as a banking platform, but only for a limited set of transactions. However, mobile telecom companies have done extremely well in making big money from millions of low value transactions. This unique ability must be deployed for financial inclusion. Give banking licenses to mobile service providers or their joint ventures with established banks. India needs more banks and new technology to achieve financial inclusion.
Q1. Why has the RBI set the condition that new banks should have at least 25% of its branches in rural areas?
1. So that banks do not concentrate more on urban branches.
2. So that there is no plethora of branches in urban areas.
3. To enhance the presence of banks in villages and cities.
4. To ensure that there is adequate banking presence in urban areas.
5. Not mentioned in the passage.
Q2. Why does the author say that the condition put up by RBI (for new banks) is not a good idea?
1. As it is a waste of banks' capital.
2. As financial inclusions cannot be achieved by these institutions.
3. This idea is a replica of the old idea for public sector banks.
4. As the banks that are already established in rural areas have not found it worth their while to open branches there due to high costs involved in such operations.
5. It will restrict bank to rural areas only
Q3. Why has the idea of hiring banking correspondents (BCs) for rural areas failed?
(A) There were restricted payments and transfer functions.
(B) Money hardly reaches the people when they need it.
(C) The number of BCs appointed were not sufficient to cover Indian villages.
1. Only B
2. Only C
3. Only B & C
4. Only A and B
5. All A, B, C
Q4. Which "unique ability" (according to the author) must be deployed by RBI for financial inclusion?
1. Making money from millions of low value transactions.
2. Tie up of mobile service providers and banks.
3. Giving licenses to mobile service provides for banking.
4. All 1, 2, 3
5. None of these
Q5. Which of the following is TRUE is context of the passage?
1. Financial inclusion can be achieved only through opening banks in rural areas.
2. As per RBI new banks should have at least these 1/4th of their branches in rural areas.
3. India is a developed banking country with 6,5, villages.
4. Mobile phones serve as a banking platform for most of the set of transactions.
5. All are true.
Q6. Which of the following is NOT TRUE in context of the passage?
1. Banks were supposed to hire banking correspondents but they failed to do so.
2. India needs more banks and new technology to achieve financial inclusion.
3. NBFCs reach their rural customers through agents & customer relationship associates.
4. Only 1 and 3
5. Only 2 and 3
Q7. Choose the word which is most nearly the SAME in meaning as the word printed in bold as used in the passage.
stumped
1. oriented
2. organized
3. cheered
4. overjoyed
5. bewildered
Q8. Choose the word which is most nearly the SAME in meaning as the word printed in bold as used in the passage.
replicate
1. copy
2. depict
3. investigate
4. state
5. oppose
Q9. Choose the word which is most nearly the OPPOSITE in meaning as the word printed in bold as used in the passage.
adequate
1. equal
2. unsatisfactory
3. sufficient
4. requisite
5. enough
Q10. Choose the word which is most nearly the OPPOSITE in meaning as the word printed in bold as used in the passage.
massive
1. large
2. substantial
3. extensive
4. great
5. small
Answers:
Q1. (2)
Q2. (4)
Q3. (5)
Q4. (1)
Q5. (2)
Q6. (1)
Q7. (5)
Q8. (1)
Q9. (2)
Q10. (5)
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