1. The Reserve Bank of India has asked banks to submit financial
statements for the first half (H1) of the fiscal year by November 30 with
regard to the Indian Accounting Standards (Ind-AS).
_____________________________"The RBI is expecting a rough, first-cut
reporting from banks with regard to pro forma Ind-AS financial statements for
the half year by November 30," Sudarshan Sen, Executive Director of RBI,
said at a seminar at New Delhi.
A) The RBI director said capacity building, both in terms of human
and IT resources, is the need of the hour for banks to follow Ind-AS
convergence with International Financial Reporting Standards from April 2018.
B) "But this is again a huge challenge, especially in public
sector banks. There are processes involved in upgrading software and hardware.
It takes time. There are approvals required and there are budgets to be made.
It is a big challenge as to how they would be able to meet the timelines given
by us," Sen said.
C) It will help the Reserve Bank of India (RBI) to ascertain the
difficulties faced by the banks as part of its transition to International
Financial Reporting Standards from April 2018, a top RBI official said at an
industry lobby's event here on October 7.
D) "Banks will have to put in very robust systems in place and
make efforts and expenses to meet the requirements in this regard," he
added.
E) He said that the RBI will have to review various regulations and
bring them in tune with the Ind AS.
Answer-3
2. The __________of the Indian
central bank's maiden monetary policy committee (MPC) meeting, released on
Tuesday, showed that broad concerns over economic growth and relief from the
pullback in inflation ___________the bank's recent rate cut decision.
A)
details, lead
B)
minutes, examined
C)
information, relegated
D)
minutes, spurred
E)
employing, reached
Answer-4
3.
Private sector lender Kotak Mahindra Bank has started an ‘Innovation Lab’ in
Bengaluru to tap into the best
technology that impacts its operations, and is open to investing in start-ups,
a senior company official has said. “We started an ‘Innovation Lab’ recently
which is right now a dedicated space from where we are partnering with
start-ups in the fintech space to test concepts and launch them into commercial
products,” Kotak Bank’s chief digital officer Deepak Sharma told PTI.
_______________________________.
A) “We are open to investments in
other start-ups as well but do not have a dedicated fund now,” he said.
B) The fourth largest private sector
bank has put together a seven-member core team which is working with an equal
number of start-ups in the artificial intelligence, analytics, biometric or
iris scanning and machine learning space.
C) Domestic lenders, especially those
in the private sector, have been increasing their engagement with the fledgling
fintech start-up community to tap into the technologies of the future which
will help them stay relevant.
D) Suresh Prabhu has said in Rajya
Sabha that the Rail Budget should be merged with the general budget.
E) A report in ToI quoting Finance
Ministry sources claimed that Arun Jaitley has given his nod for the merger of
the Union Rail Budget with the Union Budget from next year
.
Answer-2
4. National Award winning lyricist Na Muthukumar died in Chennai
on Sunday due to jaundice, a source said._________ “He passed away at his r
suffering from high fever and succumbed to jaundice,” the
A) Can't believe this. Na
Muthukumar is no more... He's written more than 200 songs
in my
films. A huge
loss. May god
give strength to his fam
B) Prakash added that his musical career started with Muthukumar's
song Veyilodu Vilayadi from the National Award winning Tamil film Veyyil.
C) Two of his songs Aanandha Yazhai Meetugiraai (from Thanga
Meengal) and Azhage Azhage (from Saivam) fetched him National Awards.
D)
He was 41.
E) Some of his other popular songs include Suttum Vizhi,
Devathaiyai Kandaen, Mun Andhi and Venillave.
Answer-4
5. In July 2015, a quantum-computing
lab jointly established by Chinese Academy of Science and Chinese Internet
giant Alibaba opened in Shanghai. The lab is expected
to produce a general-purpose quantum computer prototype with 50
to 100 quantum bits by 2030. ____________.
A) Such powerful computing ability is also viewed as a threat in
that it could make everything on a conventional computer hackable.
B) China will complete and put into operation the world's first
secure quantum communication backbone network, the Beijing-Shanghai backbone
network, later this year, Pan Jianwei, academician of Chinese Academy of
Science and chief scientist of quantum communication satellite project said.
C) The 2,000-kilometer backbone network will be used in the fields
of finance, electronics and government affairs.
D) The satellite and the ground-based network will ensure the
secure passage of information, Pan said.
E) Pan reckoned that quantum communication will enter everyday life
in about 10 years, securing online banking and payments.
Answer-1
6.Jelagat Sumgong became the first
Kenyan to win the women’s Olympics marathon on Sunday, delivering her country’s
first gold of the Rio de Janeiro Games.
__________World champion Mare Dibaba of Ethiopia took the
bronze.
A) Sumgong completed the course in 2
hours, 24 minutes, 4 seconds ahead of Kenyan-born Eunice Kirwa, who now runs
for Bahrain.
B) Sumgong, 31, bided her time
throughout the race, staying with the leading pack and not moving ahead until
the final kilometres.
C) Belarusian Volha Mazuronak, 27,
shook up the pack halfway through, taking the lead and briefly pulling ahead of
the lead group.
D) The move pushed the pace, stringing
out what had been a lead pack of more than two dozen runners, causing some to
drop back.
E) It was the first in a series of
attacks by the first-time Olympian, who was ultimately unable to sustain the
pace and was dropped by the leaders in the closing stages before finishing
fifth.
Correct answer: A
Directions: In each of the
following questions a short passage is given with one of the lines in the
passage missing and represented by a blank. Select the best out of the five
answer choices given, to make the passage complete and coherent (coherent means
logically complete and sound).
7. Haryana chief minister Manohar
Lal Khattar on Monday hoisted the national flag in Sirsa town and announced
projects worth Rs 2,000 crore to make the water of the Yamuna river available
to the state. __________________________________He
said already Rs 1,657 crore has
been allocated for the implementation of 'Swaran Jayanti' schemes in this
fiscal.
A) “We are open to investments in
other start-ups as well but do not have a dedicated fund now,” he said.
B) On the Sutlej-Yamuna Link (SYL)
canal row between Haryana and Punjab, he said the state was committed to
complete the canal and to ensure that Haryana gets its legitimate share of
water from the Ravi and Beas rivers.
C) A colourful cultural programme was
organized by school students here. Similar Independence Day functions were also
organized in all district headquarters.
D) Khattar said to utilize the surplus
water of the Yamuna during the monsoon, his government is preparing five
projects with an outlay of Rs 2,000 crore to make available 5,000 cusecs of
water to the people of the state.
E) The government plans to establish
at least one centre of excellence for fruits and vegetables in each district,
while seven such centres have already been established, he said.
Correct answer: D
8. On the occasion of the 70th
Independence Day, Maharashtra launched the country's first comprehensive 'Crime
Criminal Tracking Network System' through 42 cyber labs inaugurated
simultaneously here on Monday. Chief Minister Devendra Fadnavis, while launching
the CCTNS, announced that the whole of Mumbai would be under closed-circuit
television monitoring by October, while similar projects are underway in other
major cities like Pune and Nagpur. Under the CCTNS, the state government will
raise a special cyber police force of around 1,000 policemen well trained to
handle the growing incidents of cyber crimes, he added.
A) Chief Minister Devendra Fadnavis,
while launching the CCTNS, announced that the whole of Mumbai would be under
closed-circuit television monitoring by October, while similar projects are
underway in other major cities like Pune and Nagpur
B) The services of the cyber labs,
linked by secure high-speed fibre optic cable network, will be available to
address security concerns of private organisations and banks among others,
Fadnavis added.
C) The Centre for Development of
Advanced Computing (CDAC), Pune, was instrumental in completing the work on
setting up the 42 cyber labs across the state in just three weeks, said
Inspector General of Police Brijesh Singh, IT expert and Cyber and Crimes
against Women Cell in the Mantralaya.
D) Director General of Police Satish
Mathur said as the country gets linked through information technology, hackers
attempt to break it.
E) He said law and order situations
are created on social media networking sites which would henceforth be tackled
effectively through the cyber labs.
Correct
answer: A
9.
The Madhya Pradesh government will soon give its employees salary and
allowances as recommended by the 7th Pay Commission and also confirm daily
wagers in service,
Chief Minister Shivraj Singh
Chouhan announced on Monday.______________. He said the daily wagers confirmed
in service would be suitably adjusted in various departments according to their
qualifications.
A) “We are open to investments in
other start-ups as well but do not have a dedicated fund now,” he said.
B)
This panel will work for job
creation in the state
C) Chouhan said that an 'employment
cabinet' would be formed with an aim to provide more and better job
opportunities to the youths in the state.
D) Speaking after unfurling the
tricolour on the Independence Day at the Motilal Nehru Stadium in the state
capital, the Chief Minister also announced an increase in the social security
pensions in the state
E) The Chief Minister said the state's
development rate was 10 per cent while agriculture was growing at the rate of
20 per cent per annum.
Correct answer: D
10. RBI has questioned the decision
of a 21-bank consortium led by UCO Bank to extend a staggering Rs 5,262-crore
loan to Kolkata-based rice trading firm REI Agro which was found to be involved
in fraudulent activities._________________. The clarifications were sought in
the light of RBI's master circular on fraud, sources said, adding that there
seems to be violation of its directions on fraud.
A)
CBI
too in their enquiry found that the REI Agro was involved in fraudulent
activities.
B) As per the RBI master circular on
frauds, banks are required to put in place a framework for loan frauds
directing early detection and necessary corrective action by introducing Early
Warning Signals (EWS) and Red Flagged Accounts (RFA) for loan of Rs 50 core or
more
C) As many as 21 banks had extended
loan of Rs 5,262 crore to REI Agro Ltd, a basmati rice trading firm, and the
RBI has sought a detailed clarification from these banks after the fraud was
detected, sources said
D) There is also provision of
incentive for prompt reporting, staff accountability exercise within six
months.
E) There also has to be a nodal
officer for filing all complaints and penal measures for fraudulent borrowers
Correct answer: C