English Test for IBPS Clerk 2018 Main Exam Set – 27

Directions(1-10): In each of the following questions a passage is given in which there is a blank. Choose the most logical and appropriate option from the five options given that can be filled in the blank.

  1. The composition of the committee appointed to determine the adequate level of reserves for the Reserve Bank of India (RBI), _____________________. Bimal Jalan, former RBI governor and economic adviser to the government, is expected to side with the government’s view of the matter, which would be fully articulated by the department of economic affairs secretary Subhash Chandra Garg.
    along with the three-month period allowed for the task, is a welcome sign of sense on relations between the government and the central bank
    by former economic adviser to the government and former deputy governor of RBI, Rakesh Mohan, aided by current deputy governor N S Vishwanathan
    with continuing multifaceted engagement in Gujarat, and Doshi, a distinguished corporate executive with intimate knowledge of finance
    far from clear that a central bank’s credibility depends to any great extent on the size of the reserves it holds
    None of these
    Option A


  2. In the ever-expanding space-time continuum, how significant can yet another year be, particularly one in the Gregorian calendar whose beginning is as arbitrary as that of any of the numerous other calendars that mark time around the world in different cultures? Yet, the next year is special for us here in India, because it will witness elections to constitute the 17th Lok Sabha, and with it, bring renewal of democracy and government. Major economies around the world are losing steam, but India is poised for acceleration of growth, __________________.
    as the banking crisis approaches its nadir and lending resumes to fuel private sector investment
    finally see the light and muster the political courage to ask consumers to pay for the power they consume and rehabilitate the crippled sector in their states
    as make villages hum with agro-processing, which, in turn, will revolutionise farming and farm incomes
    as pioneers of Indian languages on the web broaden the base of internet use
    None of these
    Option A


  3. It has been over two years since India adopted the Insolvency and Bankruptcy Code (IBC) to swiftly resolve corporate distress and clean up bad loans on the books of banks. This must be hailed as the most significant reform initiated by the present government. To expect miracles would be naïve, but the overall experience has been positive even as the law is still being tested. Rules would also have to evolve to subserve the public policy goal to maximise the value of the asset being resolved, _____________________.
    benches of the adjudicating authority must be set up
    as 1,298 cases were admitted till December 1, 2018. Of these, 52 (or 4%) have been resolved and 30% of the pending cases had crossed the 270-day timeline till September 2018
    and also brought in a behavioural change in debtors who want to settle defaults to avoid losing their companies
    minimise haircuts that banks have to take, and reduce the burden on taxpayers to recapitalise banks
    None of these
    Option D


  4. The landslide victory of Sheikh Hasina-led Awami League in Sunday’s national elections in Bangladesh is good news for the region. As Bangladesh’s prime minister for the third continuous term, ________________ , although the strong-arm measures that give the discredited Opposition the chance to cry foul were eminently avoidable. The results of the Bangladesh elections are significant for India as well. New Delhi must continue to partner with Bangladesh, deepening the ties to ensure regional development, security and cooperation.
    a performance superior to that of most north Indian states
    which backs Islamists, will ensure that the country becomes far less hospitable to Islamists either in transit or seeking refuge
    Sheikh Hasina needs to continue with the policies that have ensured stability and economic growth
    encouraging Indian companies to invest, and working together in climate change, terrorism, migration and energy
    None of these
    Option C


  5. Prime Minister Narendra Modi has refused to yield to populism on farm loan waivers, ___________________. This is welcome. But it also makes it imperative to come out with a non-populist alternative to rural distress that has been one factor in the recent political upheaval in the Hindi heartland that has cost the prime minister’s party three state governments. It is to be hoped that such an alternative would be forthcoming, in the wake of denunciation of what the Opposition Congress has been parading as a trophy policy.
    his own party made waiver of farm loans a key promise in its election campaigns, most tellingly in Uttar Pradesh in 2017
    during the course of a wide-ranging television interview on the first day of the New Year
    that the government takes justifiable pride in has not gone beyond opening an account to meaningful mediation of savings to rural folk
    writing off his loan is folly while writing off the unpaid loans of fat-cat industrialists is virtue
    None of these
    Option B


  6. It will be nothing short of a miracle if the 15 miners trapped in a coal pit some 300-odd ft deep in Meghalaya’s East Jaintia Hills are found alive. The precarious predicament of these miners, __________________ is a testament to collective failure of the state machinery, the judiciary and local business.
    was ordered on complaints that Meghalaya’s preferred mode of mineral extraction
    paid no more than a few hundred rupees to crawl through narrow deep pits and trenches to dig out coal,
    are likely to be technology-intensive and expensive
    enforcing regulation to make the mining non-polluting and safe
    None of these
    Option B


  7. In its twice-annual report on financial stability released on December 31, the Reserve Bank of India (RBI) finds that bad debt held by banks fell from 11.5% of all loans to 10.8% between March and September 2018, and could fall further to 10.3% by March 2019. _________________. The new package of debt restructuring announced for small borrowers with total loans of up to Rs 25 crore might dent this trend. But not much, as large entities accounted for 55% of bank borrowings, but near-84% of defaults.
    RBI must keep a keen eye on financial companies that fund everything from tractors to infrastructure
    lenders have to be empowered further, possibly with greater protection from arbitrary charges of mala fide while taking decisions on haircuts while resolving bad loans
    a drop in non-performing assets (NPAs) is welcome
    only way to cut through this asset-liability mismatch is to create and nurture a market for long-term bonds
    None of these
    Option C


  8. Political failure leading to weak finances of state utilities underlies the power sector’s problems. __________________. Simply seeking speedy exit of current promoters would lead to steep haircuts for banks, one or two well-connected promoters cornering the assets, and little or no resolution of the underlying structural issues in power.
    We do need transparency in state power utility finances and regular disclosure of quarterly results
    absence of power purchase agreements (PPAs) and inability of private promoters to increase equity stakes
    a welcome move to mandate prepaid meters for power connections, to address rampant revenue leakage
    These are not internal to the sector as in cement or steel
    None of these


  9. Most construction material, capital goods and various input services used in buildings attract 18% GST, while cement is taxed at 28%. Plus, 12% GST is levied on under construction property, including on “ready-to-move-in” flats where completion certification has not been issued at the time of sale. _____________________, perversely, more opacity in housing and built spaces. Reports say that the actual incidence of GST for homebuyers would be only about 5%, if builders do pass on input tax credits.
    There is no GST on real estate, and the steep tax rate for under-construction houses merely incentivises
    Such a rate reduction would widen the tax base and also bring about much-needed transparency in real estate
    The effective pre-GST tax incidence on housing was, reportedly, in the 15-18% range
    It would truly broaden the base of indirect taxes, boost tax buoyancy, and bring about an efficient tax structure right across the board
    None of these
    Option A


  10. The Opposition has vehemently raised the demand for a joint parliamentary committee (JPC) to investigate alleged irregularities in the Rafale deal. The government has pooh-poohed the demand, claiming the Supreme Court has already given a certificate of integrity to the deal. _______________________.
    The CAG report is like the auditor’s report to shareholders
    The fact of the matter is that a JPC on the deal to acquire the fighter aircraft would be premature at the moment
    Any qualifications and observations made by the auditor would be laid before the annual general meeting of the shareholders, along with the management’s response
    Since the CAG has not yet submitted its report, the PAC has not vetted it
    None of these


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