Dear Readers,
Mahendras has started special quizzes for IBPS & SBI Exam so that you can practice more and more to crack the examination. This IBPS & SBI Exam special quiz series will mold your preparations in the right direction and the regular practice of these quizzes will be really very helpful in scoring good marks in the Examination. Here we are providing you the important question of reasoning ability for the IBPS & SBI Exam.
1-7. 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.
The threat by petroleum retailers to stop accepting credit and debit card payments led to a late-night intervention by the Centre, with the Minister for Petroleum, declaring that the protest action had been put off till January 13 Fuel dealers raised a red flag on the decision by certain banks to levy the merchant discount rate (MDR) of up to one per cent on card payments. After the demonetisation exercise began, the government had waived the service tax on the MDR surcharge from December 8 for card-based payments up to Rs. 2,000 and got banks to waive the MDR charges on debit cards till December 31. By The Petroleum Minister said that neither the consumer nor the dealers, operating on thin margins, would bear the MDR for fuel refills even after January 13. Stakeholders, he said, will absorb the cost, but it is still not clear who will bear the cost of going cashless — banks are not out of line in expecting some revenue in return for facilitating transactions through point of sale (PoS) devices. Since 8th November, public sector banks have been advised by the Centre to charge a maximum of Rs. 100 a month as PoS device rentals from small merchants, and the move has benefited 6.5 lakh of the 15 lakh PoS devices. Public sector oil marketers were asked to offer a 0.75 per cent discount to customers using non-cash means to tank up. The Railways, public sector insurers and others have been asked to offer discounts or charge lower rates for cashless transactions; so more such spats could occur, although the Centre has promised to foot the bill for some of these subventions.
Petroleum outlets are particularly important for a cash-lite economy push as they handle nearly Rs. 2 lakh crore of cash a year. Queues at banks have eased, but the weekly withdrawal limits haven’t been lifted. In a situation where people are cash-strapped and the government is nudging them towards alternatives, the uncertainty of the sort created at fuel pumps should be avoided as it could lead to a crisis of confidence. Last February the Cabinet had given the nod for rationalising MDR charges. An expert panel to recommend legislative and other changes was constituted in August and it mooted greater transparency in fees for digital payments, protection for private data of consumers, a mechanism to ensure they will not be liable to pay for unauthorised transactions or system errors, and the creation of a new payments regulator. To build confidence in a less-cash economy, people nudged into a new way of life need clarity and consistency in policy along with a visible road map to secure their confidence. Lucky draws alone won’t suffice.
1 Which sectors have been asked to offer discounts or charge lower rates for cashless transactions?
A. The Railways
B. The Airlines
C. The Small Scale Industries
D. The Public Sector Insurers and others
01. Only (C)
02. Both (B) and (C)
03. Only (D)
04. Both (A) and (D)
05. Both (C) and (A)
2 Which of the following statement/s is/are TRUE in the context of the passage?
A. Queues at banks have eased, but the weekly withdrawal limits haven’t been lifted.
B. The Railways, public sector insurers and others have been asked to offer discounts or charge lower rates for cashless transactions
C. Since 8th November, public sector banks have been advised by the Centre to charge a maximum of Rs. 100 a month as PoS device rentals from small merchants
01. Only (A)
02. Only (A) and (C)
03. Only (B) and (C)
04. Only (C)
05. All (A), (B) and (C)
3 Which of the following is possibly the most appropriate TITLE for the passage?
01. Public sector banks
02. Oiling cashless wheels
03. Merchant discount rate (MDR)
04. Digital payments
05. Consumer and the dealers
4 Choose the word which is most SIMILAR in meaning to the word given in bold as used in the passage.
WAIVED
01. approved
02. expedited
03. acknowledged
04. removed
05. refused
5 Which of the following statement/s is/are NOT TRUE in the context of the passage?
A. Public sector oil marketers were asked to offer a 0.65 per cent discount to customers using cash means to tank up.
B. Petroleum outlets are particularly important for a cash-lite economy push as they handle nearly Rs. 2 lakh crore of cash a year.
C. In a situation where people are cash-strapped and the government is nudging them towards alternatives, the uncertainty of the sort created at fuel pumps should be avoided as it could lead to a crisis of confidence.
01. Only (C)
02. Only (A) and (C)
03. Both (B) and (C)
04. Only (A)
05. Both (A) and (B)
6 Choose the word which is most SIMILAR in meaning to the word given in bold as used in the passage.
SUFFICE
01. displease
02. enough
03. dissatisfy
04. mistake
05. stupendous
7 Choose the word which is most OPPOSITE in meaning to the word given in bold as used in the passage.
ABSORB
01. build
02. mislead
03. finish
04. anguish
05. emit
8-10. Choose the most suitable pair of words to be filled in the blanks given in the sentence to make it meaningfully complete.
8 __________ tracking the domestic online retail business expect new user growth to remain healthy for the next few quarters, primarily driven by faster internet connections, which in turn has led to more familiarity with online shopping among _____________.
01. Investors, users
02. Suppliers, customers
03. Connectors, members
04. Experts, consumers
05. None of these
9 The ____________ of Flipkart and Amazon is an indicator that the pace of growth has accelerated in India’s e-commerce market after a ____________.
01. users, leap
02. performance, rebound
03. jump, growth
04. initiatives, access
05. commands, surge
10 The _________ is on the chemist to make sure the medications are properly ___________.
01. impunity, include
02. exoneration, withhold
03. onus, dispensed
04. benefit, hold
05. aid , hold
Answers:-
Q.1 (4)
Q.2 (5)
Q.3 (2)
Q.4 (4)
Q.5 (4)
Q.6 (2)
Q.7 (5)
Q.8 (4)
Q.9 (2)
Q.10 (3)
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