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Mahendras has started special quizzes for IBPS | RBI | SBI | NABARD | LIC so that you can practice more and more to crack the examination. This IBPS | RBI | SBI | NABARD | LIC 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 English Language for the IBPS | RBI | SBI | NABARD | LIC.
Directions (1-10): Read the following passage carefully and answer the questions given below it.
You might have to pay more for your transactions at automated teller machines (ATMs) in the New Year. Bankers have proposed a reduction in the number of free ATM transaction a month to five — irrespective of whether you are transacting at ATMs of your own bank or those of other lenders. At present, there is no cap on free transactions at own-bank ATMs, while customers can use other banks’ machines up to five times a month without any extra cost. And, there’s more. Bankers have also proposed to a working group on ATM security that the rate for each ATM transaction (interchange fee or charge) be raised from Rs 15 to Rs 18. Interchange fee implies a charge paid by a bank to another for acceptance of card-based transactions. Usually, it’s a fee that a merchant’s bank (the ‘acquiring bank’) pays a customer’s bank (the ‘issuing bank’). The working group was set up to assess the cost implication of enhancing security at ATMs after the recent stabbing incident at a Corporation Bank ATM in Bangalore. Banks, under the Indian Banks’ Association (IBA), have been working to draft a common response to the challenge.
Among the suggestions are revising charges to ensure viability of the ATM network. “Eventually, customers will have to share the cost burden,” said an official of a public-sector bank. Besides toning up physical security at ATMs, banks are working on steps like improving electronic surveillance, including remote monitoring. Some have also begun partial shutdown of ATMs at night in areas where usage is low. The other proposals include freedom to display advertising material for non-banking products within the ATM sites. But these ideas could be implemented only after the Reserve Bank of India’s approval. Bankers say several state governments have been asking banks to ensure round-the-clock guards at ATMs which is a costly affair. The cost of 24x7 security at each ATM centre would come to Rs 40,000 a month; there will have to be enough transactions to justify that expense. The ATM industry in India has grown at a compound annual rate of 26.8 per cent over the period between 2007-08 and 2012-13 — the number of ATM terminals reached nearly 114,000 in 2012-13. As at the end of October, the number of ATMs in the country stood at 137,000, while the requirement was assessed at 400,000.
Q.1 The suggestions regarding enhancing security cannot be implemented if -
(1) There is turbulence felt in the banking sector.
(2) Other banks do not lend support to the idea suggested.
(3) The RBI does not give its approval for their implementation.
(4) The customers accept paying the fee for managing enhanced security.
(5) All of the above could be the reasons.
Q.2 What opinion has been suggested by the bank officials if the number of ATM transaction go beyond five?
(1) He will have to pay for each transaction beyond five.
(2) He will have to give written request to the bank.
(3) His account will be credited with the amount equal to the amount of withdrawal at ATM
(4) He might be fined for making frequent transactions at ATM
(5) His transactions would not be entertained by the machine.
Q.3 To achieve which of the following objectives was the working group set up?
(1) To work on providing better job opportunities to those who work in banks
(2) To assess the cost of having increased security at ATMs
(3) To figure out measures to keep the data secure
(4) To find measures in order to achieve cost efficiency at all levels.
(5) Not mentioned in the passage
Q.4 The requirement of ATMs in India is-
(1) Much higher than they are functioning at present.
(2) Much lower than they have been provided.
(3) Is exactly the same as they are available.
(4) Cannot be specified as customers’ choices keep changing.
(5) Could never be assessed.
Q.5 Which of the following conditions should be met if the banks decide on keeping round-the-clock guard at ATMs?
(1) The guard should be an ex-employee of the bank so that he could be trusted.
(2) The customers should provide feedback of the security provided at the ATM in their vicinity.
(3) The ATM should be partially shut during night so that the guard gets some rest.
(4) There should be adequate number of transactions taking place at that ATM to justify the payment related to have that facility.
(5) No such condition has been specified.
Q.6 Which of the following is FALSE in the context of the passage?
(1) The reduced number of free transactions at an ATM would be five.
(2) The cost of keeping a guard for 24x7at ATM would cost around Rs 40,000 a month.
(3) Interchange fee is a fee that a customer’s bank pays a merchant’s bank.
(4) Some banks have begun partial shutdown of ATMs at night in areas where usage is low.
(5) All of the above
Q.7 Choose the word most SIMILAR in meaning to the word given in bold, as used in the passage.
Implication
(1) Equal
(2) Effect
(3) Assumption
(4) Suspension
(5) Mannerism
Q.8 Choose the word most SIMILAR in meaning to the word given in bold, as used in the passage.
Viability
(1) Expensive
(2) Demand
(3) Liveliness
(4) Stress
(5) Functioning
Q.9 Choose the word which is most nearly the OPPOSITE in meaning as the word given in bold as used in the passage.
Irrespective
(1) Considering
(2) Impartial
(3) Known
(4) Heedless
(5) Alternative
Q.10 Choose the word which is most nearly the OPPOSITE in meaning as the word given in bold as used in the passage.
Acceptance
(1) Compliance
(2) Cooperation
(3) Rejection
(4) Arduous
(5) Certification
Answers :-
Q.1 (3)
Q.2 (1)
Q.3 (2)
Q.4 (1)
Q.5 (4)
Q.6 (3)
Q.7 (2)
Q.8 (5)
Q.9 (1)
Q.10 (3)
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