English Quiz - SBI PO Mains 2015

Directions (Q. 1-5): Read each sentence to find out whether there is any grammatical or idiomatic error in it. The error, if any, will be in one part of the sentence. The number of that part is the answer. If there is ‘No error’, the answer is 5). (Ignore errors of punctuation, if any.)

1. 1) In fact, the human civilisation is / 2) the history of man’s growth / 3) control over / 4) the sources of energy. / 5) No error

2. 1) We all know that steam engine / 2) marks an epochal change in the production capacity / 3) and thus the beginning / 4) of modern capitalist world. / 5) No error

3. 1) United States of America has not blacklisted India as a priority foreign country / 2) in its report on the intellectual property regime / 3) of trading partner despite strong demands / 4) from its pharmaceutical companies. / 5) No error

4. 1) In Beijing recently, smog had become / 2) so thick that virtual sunrise / 3) was arranged on huge TV screens / 4) across the city. / 5) No error

5. 1) It is said that Prometheus gave the power / 2) over fire to man after creating him / 3) from water and earth because he had become fond of men / 4) than the king of gods, Zeus, had anticipated. / 5) No error

Directions (Q. 6-10): Each question below has two blanks, each blank indicating that something has been omitted. Find out which option can be used to fill up the blank in the sentence in the same sequence to make it meaningfully complete.

6. Indian policy makers have a difficult task of ________ Indian economy ________ a higher growth.
1) recoiling, on 
2) reviving, across
3) recuperating, about 
4) backfiring, for
5) rebounding, along

7. The industrial, agricultural, commercial and public services ________ a significant proportion of electricity for ________ their demand for final energy.
1) exhaust, accomplishing
2) consume, meeting
3) utilise, conforming
4) expend, completing
5) absorb, meeting

8. The ________ of three pill ars of sustainable development in public policies in a balanced measure is a difficult ________.
1) collection, duty           
2) association, function
3) integration, exercise   
4) combination, undertaking
5) group, act

9. Apart from reviewing the party’s _______ showing, ________ would be fixed on those who worked against the party’s interest.
1) dismal, accountability
2) formal, responsibility
3) outstanding, culpability
4) national, reasons
5) brilliant, answerability

10. The regulatory agencies must be knowledge-based, _______, independent and ________ for their actions to Parliament. 
1) clear, culpable
2) functional, obliged
3) active, innocent
4) transparent, accountable
5) questionable, unreliable

Answer:-
1. (2); Replace ‘growth’ with ‘growing’

2. (2); Replace ‘marks’ with ‘marked’

3. (1); Add ‘The’ before ‘United’

4. (5)

5. (3); Replace ‘fond’ with ‘fonder’

Q. 6 (5)
Q. 7 (2)
Q. 8 (3)
Q. 9 (1)
Q. 10 (4)


Current Essay Topic For SBI Mains 2015

Monetary policy, before and after crisis
The Great Recession which set in in 2007-08 claimed several victims on its way. Global banks considered “too-big-to-fall” looked meek. There were the fanciful products (derivatives in varied forms) which were smokescreens to cover “risk.” Rating agencies lost their reputation.
Current Essay Topic For SBI Mains 2015

The most pitiable victims were the central banks of advanced countries such as the U.S. Fed, ECB and the BOE which were entrusted with monetary policies. They were firm in their view that all that was required was to fine-tune the interest rates up or down, adjust the money/credit flows and the financial machine will take care of the rest, more like the clicks on computer boards. There was neglect of bank supervision which coincided with excessive financialisation across the globe. Even a week before the onset of the crisis, they believed that their financial markets had depth and would ‘correct’ soon. And now those central banks are battling against the crisis with “non-conventional” tools such as printing dollar notes, buying toxic assets and hoping the markets will recover.

Old polices have failed and there is a vibrant, new thinking on alternative approaches. There are the issues governing the links between fiscal and monetary policies. Dr. Y.V. Reddy, former Governor of the RBI, has devoted several lectures, articles and books on these issues. Many others like Andrew Sheng and Barry Eichengreen have come forward with their opinions. Monetary economics is not the same animal it was a decade ago.

It is truly a daunting task for any author to undertake a review of the “Conduct of Monetary Policy India” and its changing dimensions in the post-reform period. This is what the author of this book seeks to do.

Out of 10 chapters in this book, only two handle post-reform (rather post-crisis) issues. The chapter on monetary policy and inflation dynamics in India seeking to set the nub of the book is patchy and disjointed. It flits from one theoretical issue to another without due analysis or links with India. For instance, it makes contradictory statements on the validity of the Philips curve. It ends adding that inflation persistence in India is due to increasing openness which is contrary to cross-country experience. At the same breadth, he adds that the Philips curve has become flatter!

Chapter three provides a descriptive narration of the reforms in the financial sector. Much of it relies on the earlier Chakravarty Committee Report and the two Narasimham Committee Reports. It takes the official (RBI/Government) view that these have deepened the Indian financial system. There are those who feel that they only scratched the surface and did not create a vibrant private sector market in the financial sector. These include Dr. Raghuram Rajan and Dr. Urjit Patel who are now with the RBI!

The chapter on structural changes and macro-economic issues is badly arranged. At one level, it deals with the inadequacy of monetary policy to cure regional disparities and at another, with the need for greater monetisation such as banking penetration. Later, it moves on to “growing globalisation of the Indian economy.”

Referring to the problems of managing inflows, he draws attention to the “Impossible Trinity”, the term coined by Robert Mundell which the author, sadly, attributes to Jeffrey Frankel! While dealing with this, he cites Dr. Reddy and his choosing “intermediate solutions.” There is only one more place where he gives credit to Dr. Reddy, that is, while dealing with the RBI’s policy of adopting “multiple objectives.” Dealing with India’s monetary policy in recent years without reference to Dr. Reddy is like staging Hamlet without the Prince of Denmark!

There is a scrappy chapter which tries to describe Global Developments, post-crisis. The author fails to narrate the heroic attempts made by the RBI in bailouts without compromising its balance sheet. He also fails to deal with the criticism laid out by economists like Arvind Subramanian, Chief Economic Adviser, that India paid a heavy price in later years.

In describing the monetary policy framework and the operational procedures, the author draws heavily on his experience in the RBI and gives a good account. His analysis of the working of the Liquidity Adjustment Facility (LAF) is sound. However, he does not explain why, in recent years, it has met with heavy weather.

Central Bankers, other than those in advanced countries with deep financial markets and high degree of monetisation, feel that their tools become ineffective and are not being transmitted by the financial system. They spend lot of time and effort trying to find out why there is such poor transmission. They will not admit that the roots have to be traced to socio-cultural habits and they are not cured by reforms.

This book is ambitious. The author tries to bite more issues than he can chew. The chapters drawing on the author’s experience in the RBI and the government are sound. On the whole, the book has failed to rise to our expectations.

Current Affair Quiz For SBI Mains Exam 2014

Q. : 1 The RBI has overhauled the priority sector lending targets and now banks have to lend what per cent of their credit to the micro enterprises, entities whose investment in plant and machinery does not exceed Rs 25 lakh?
1) 8 per cent 
2) 7.5 per cent
3) 10 per cent 
4) 12 per cent
5) 9 per cent 

Q. : 2 The RBI has broadened the priority sector adding three more categories into the fold. Which of the following is NOT one of the three new categories added?
1) Medium enterprises 
2) Social infrastructure
3) Renewable energy 
4) Sugar industry
5) None of these 

Q. : 3 The UNESCO recognised historic Dharahara Tower (also called Bhimsen Tower), built in 1832, collapsed in the severe earthquake on 25 Apr in which of the following cities of Nepal?
1) Kathmandu 
2) Bhojpur
3) Chitwan 
4) Gorkha
5) None of these 

Q. : 4 Ashraf Ghani, who visited India starting 27 Apr, is the present president of
1) Bangladesh 
2) Pakistan
3) Afghanistan 
4) Malaysia
5) Maldives 

Q. : 5 Who among the following has been conferred the 2015 edition of the Pandit Dinanath Mangeshkar Award?
1) Rishi Kapoor 
2) Anil Kapoor
3) Madhuri Dixit 
4) Jackie Shroff
5) None of these 

Q. : 6 Name the present President of the International Olympic Committee (IOC) who visited India recently.
1) Sepp Blatter 
2) Juan Antonio Samaranch
3) Sergey Bubka 
4) Thomas Bach
5) Jacques Rogge 

Q. : 7 What is India’s ranking in the recently released World Happiness Report 2015 among the 158 studied nations?
1) 81st 
2) 109th
3) 84th 
4) 117th
5) 112nd 

Q. : 8 Prime Minister Narendra Modi on 25 Apr presented the 50th Jnanpith Award to Bhalchandra Nemade who is a
1) Marathi author 
2) Guajarati author
3) Tamil author 
4) Kannada author
5) Malayalam author 

Q. : 9 Which of the following states was awarded as the Best e-Panchayat state recently on the occasion of the National Panchayati Raj Diwas (25 Apr)?
1) Gujarat 
2) Bihar
3) Tamil Nadu 
4) Kerala
5) Assam 

Q. : 10 India and which of the following countries on 23 Apr began their 10-day naval exercise named 'Varuna'?
1) France 
2) Germany
3) South Korea 
4) Japan
5) Sri Lanka 

Answer:- 

  1. (2) 7.5 per cent
  2. (4) Sugar industry
  3. (1) Kathmandu
  4. (3) Afghanistan
  5. (2) Anil Kapoor
  6. (4) Thomas Bach
  7. (4) 117th
  8. (1) Marathi author
  9. (5) Assam
  10. (1) France

Banking Awareness Quiz SBI PO Mains 2015

Q. : 1   Which of the following is NOT a KYC requirement while opening a bank account?
1) A proof of identity
2) A proof of address
3) A proof of income 
4) A recent photograph
5) None of these 

Q. : 2   Even if you do not have any of the documents listed by the govt to show your ‘proof of identity’, you can open a bank account with a bank named
1) Micro account 
2) BSBDA
3) No frills account 
4) Small account
5) None of these 

Q. : 3   An Individual can have what number of ‘Basic Savings Bank Deposit Account’ in one bank?
1) Only one 
2) Only two
3) Only three 
4) Only four
5) Any number of BSBDA accounts 

Q. : 4   Which of the following institutions issues a 3-digit number ranging from 300-900 which reflects the credit profile of individuals?
1) CARE 
2) CRISIL
3) CIBIL 
4) CAMELS
5) None of these 

Q. : 5   What is the term used for a deposit with a bank that locks up money for a certain period but also provides an option of premature withdrawal which may attract a penalty?
1) Savings bank deposit 
2) Term deposit
3) Recurring deposit 
4) Current deposit
5) None of these 

Q. : 6   Which of the following is a secure messaging standard developed to serve as a platform for intra-bank and inter-bank applications and is an Indian standard similar to SWIFT?
1) SFMS 
2) NEFT
3) NPCI 
4) RTGS
5) CFMS 

Q. : 7   Which of the following is NOT a retail banking product?
1) Fixed deposit account 
2) Working capital finance
3) Personal loan 
4) Housing loan
5) Educational loan 

Q. : 8   Which of the following is NOT a money market instrument?
1) Repurchase agreement 
2) Commercial Paper
3) Debentures 
4) Treasury bills
5) Certificates of deposit 

Q. : 9   The soon to be set up proposed Micro Units Development Refinance Agency (Mudra) Bank will be first set up as a subsidiary of the
1) NABARD 
2) SBI
3) EXIM bank 
4) SIDBI
5) Other than those given as options 

Q. : 10   Out of 27 Public Sector Banks (PSBs), Govt of India controls 22 banks through majority holding and which of the following state-run entities holds majority stake in the remaining 5 banks?
1) LIC 
2) SIDBI
3) NABARD 
4) SBI
5) Other than those given as options 

Answer:-

  1. (3) A proof of income
  2. (4) Small account
  3. (1) Only one
  4. (3) CIBIL
  5. (2) Term deposit
  6. (1) SFMS
  7. (2) Working capital finance
  8. (3) Debentures
  9. (4) SIDBI
  10. (4) SBI

    Banking Awareness Quiz SBI PO Mains 2015