ENGLISH FOR BANK PO AND CLERKS -- NO.2
ENGLISH
Directions
(Q.71-75): 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 e). (Ignore errors of
punctuation, if any.)
71. a) One of
the three company/ b) that raised funds via qualified institutional
placement / c) route in the past six months have / d) seen their
stocks underperform in the market. / e) No error
72. a)
Expressing anger over the sloppy attitude / b) of the Centre in
checking up female foeticide, / c) the Supreme Court called for
specific response / d) over the steps taken by the authorities and
the results achieved. / e) No error
73. a)
Ukraine’s parliament ratified an agreement / b) to deep economic
and political ties with the European Union / c) and passed a
legislation to grant autonomy / d) to the rebellious east as part of
a peace deal. / e) No error
74. a) An
all-party political conference to discuss / b) the much-contested
constitution drafting process was cancelled / c) after the four main
parties fail to reach / d) a concrete agreement on the policy
roadmap. / e) No error
75. a) A
suicide car bomber killed / b) two US troops and a Polish soldier /
c) in an attack on a convoy / d) near US embassy in Kabul. / e) No
error
Directions
(Q.76 – 80): Rearrange the following six sentences (A), (B), (C),
(D), (E), and (F) in the proper sequence to form a meaningful
paragraph and then answer the questions given below.
- The reasons for the nationalization of the industry are concerned mostly with the unethical practices adopted by some of the players against the interest of the insurance consumers.
- The Indian insurance Industry is as old as it is in any other part of the world.
- Along with these achievements there, however, also grew a feeling of insensitivity to the needs of the market which probably led to a feeling amongst the public that the insurance industry was not fully responsive to customer needs.
- The first insurance company in India was started in 1818 in Kolkata.
- Nationalization has lent the industry solidity, growth and outreach, which is unparalleled.
- We had a number of foreign and Indian insurance companies operating in the Indian market till the nationalization of the industry took place.
76. Which of
the following should be in FIRST
sentence after rearrangement?
a) A b)
B c) C d) D e) E
77. Which of
the following should be the SECOND
sentence after rearrangement?
a) B b)
C c) D d) E e) F
78. Which of
the following should be the THIRD
sentence after rearrangement?
a) C b)
D c) E d) F e) A
79. Which of
the following should be the
FOURTH
sentence after rearrangement?
a) D b)
E c) F d) A e) B
80. Which of
the following should be the LAST
(SIXTH)
sentence after rearrangement?
a) E b)
F c) A d) B e) C
Directions
(Q.81-85): In the following passage, some of the words have been left
out, each of which is indicated by a number. Find the suitable word
from the options given against each number and fill up the blanks
with appropriate words to make the paragraph meaningfully complete.
If everyone in
India rises to the Prime Minister’s challenge to usher in a
spotlessly clean India in the next few years, the logistical
implications will be mind-boggling. Hopefully, civic agencies all
over the country are gearing up for such an eventuality well in
advance, unlike their lackadaisical (81)
to the annual monsoon deluge precautions. For even without India
being primed to take up the broom revolution, garbage dumps and
landfill sites do not take (82)
to fill up and overflow. It is only to be expected, therefore, that
if a billion-plus Indians sweep into action, there will be more trash
and garbage in need of disposal than ever before. Apart from the
sheer volume of equipment needed for such large-scale operations, is
there even space enough for the hygienic disposal of the combined
(83)
of mass clean-up acts?
If garbage is
not to become a competing industry for space, logically, the
prevention of waste creation should be deemed the most urgent
pre-emptive step. Apart from the absolutely essential waste – if
indeed such a term is feasible –generated every day by the average
Indian, the (84)
must then be on minimizing superfluous rubbish. Hopefully, the
government has already initiated research on how to move (85)
on the matter and a relevant ancillary campaign will be duly launched
soon.
81.
a) movement b) approach c) access d) avenue e) path
82.
a) space b) labour c) period d) long e) more
83.
a) detritus b) rubble c) effect d) problems
e)
solutions
84.
a) limelight b) attitude c) focus d) target
e)
spotlight
85.
a) forth b) onward c) later d) forward e) past
Directions
(Q.86 – 90): Read the passage carefully and answer the questions
given below it. Certain words/ phrases are given in bold to help you
locate them while answering some of the questions.
Central to the
financial sector reforms would be the restructuring and financing of
public sector banks (PSBs). The Narasimham Committee II on Banking
Sector Reforms (1998) concluded that the fisc just could not meet the
capital requirements of PSBs.
Accordingly,
it recommended that the minimum government holding in PSBs should be
reduced from 51 per cent to 33 per cent. It was argued that reducing
the government holding to 33 per cent would not mean a loss of
control over the social objectives of PSBs, but it would give a
breather to these banks to meet minimum capital requirements.
Under the DNA
regime, Finance Minister Yashwant Sinha made a
valiant
effort to get this recommendation accepted, but parliamentarians from
his own party blocked the move. The Committee on Fuller Capital
Account Convertibility (2006) revived the Narasimham Committee
recommendation and also recommended that all banks should be
registered under the Companies Act but this was not accepted. The
UPA governments I and II swore by the 51 per cent minimum government
holding and hence there was an impasse.
The Financial
Sector Legislative Reforms Commission (2013) recommended a single
Indian Financial Sector Code.
The
pronouncements of the present BJP government, however, indicate that
they would not deviate from the 51 per cent government holding in
PSBs. In fact, there is unanimous support, across all political
parties, on the 51 per cent minimum rule, which reveals what kind of
vested interests operate at the grassroots level.
The Nayak
Committee (2014), inter
alia,
also recommends that the minimum government holding in PSBs should be
reduced to below 50 per cent. Although this is a sensible suggestion
it is unlikely to muster political support to undertake the necessary
legislative changes.
The PSBs to be
Basel III- complaint, would need, by March 2019, about 2.4
lakh crore of Tier I capital. The Government would need to put up a
sizeable portion of this amount; this would clearly be beyond the
capabilities of the current fisc.
Moreover,
under the present system of financing, the weaker the public sector
bank, the larger the government
injection
of capital, and the stronger the public sector bank, the lower the
government injection of capital. Under such a system all PSBs more
or less grow at the same rate and the system veers
towards a weak structure.
Give the
policy of not letting any commercial bank die, over the years,
failing private sector banks have been merged with public sector
banks with a consequential
financial drain on the Government. The merger of the New Bank of
India (a PSB) with the Punjab National Bank was a disaster for both
the Government and PNB.
Again,
facetious
suggestions have been made that weak PSBs should be allowed to have a
minimum government holding below 50 per cent. The pertinent question
which arises is who would subscribe to the capital of these banks.
86. What was
the opinion of the Narasimham Committee II on Banking Sector reforms?
a) That the
minimum government holding in public sector banks should be reduced
to 33%
b) That only
fisc could not meet the capital requirement of public sector banks.
c) That
reducing the government holding to 33% would not lead to loss of
control over the
social
objective of public sector banks.
d) That
reducing the government holding to 33% would help PSBs meet minimum
capital
requirements
e) All the
above
87. Find the
incorrect statement on the basis of the given passage.
a) The main
idea behind the financial sector reforms is restructuring and
financing of PSBs.
b) The
committee on Fuller Account Convertibility recommended that all banks
should be
registered
under the Companies Act.
c) The
present BJP government has expressed its willingness to bring down
the government
holding in
PSBs as recommended by the Narasimham Committee.
d) All
political parties agree that the government holding should not be
less than 51%.
e) None of
these
88. Why was
the New Bank of India merged with the Punjab National Bank?
(A) To reduce
the number of failing banks
(B) It was
mandatory under the policy of not letting any commercial bank die.
(C) It was
necessary to allow government injection of capital to failing banks.
a) Only (A)
and (B) b) Only (B) and (C) c) Only (A) and (C)
d) Only
(B) e) Only (C)
Directions
(Q. 89): Choose the word/group of words which is MOST SIMILAR in
meaning to the word/group of words printed in bold as used in the
passage.
89.
Facetious
a)
formal b) ridiculous c) concrete d) grave e) serious
Directions
(Q. 90): Choose the word/group of words which is MOST OPPOSITE in
meaning of the word/group of words printed in bold as used in the
passage.
90. Valiant
a)
assertive b) brave c) indomitable d) puissant e) cowardly
Directions
(Q.91 – 100): Read the passage carefully and answer the questions
given below it. Certain words/ phrases are given in bold to help you
locate them while answering some of the questions.
“Oh
no, not yet another tax!” Is this your reaction to the Budget
promising to implement Goods and Services Tax (GST) soon? Don’t
fret,
for GST isn’t a new tax. Originally proposed in 2010, GST is
expected to bring down the cost of goods and services across India by
streamlining all indirect taxes and unifying them into one. Fears of
having to be at the Centre’s mercy for all their revenue needs, saw
the states drag their feet on the GST. But with most issues sorted
out, GST may soon be a reality.
GST will
replace all existing indirect taxes on both goods and services
produced with one single tax and simplify India’s mind-boggling
maze
of taxes. Life today is not easy if you are a manufacturer or a
service provider in India. For there’s the central Government
levying excise duty, service tax, cess and surcharge and then State
governments imposing sales tax, VAT, entertainment tax and entry tax
and more!
Once the GST
kicks in, almost all goods and services will attract the Dual
GST—Central and State GST—with the tax collections going to the
respective governments. Besides, with States refusing to give up
their existing taxation powers over petroleum products and alcoholic
beverages, two major money spinners, don’t expect taxes on them to
fall.
The GST is
designed as a value-added tax, which means starting from the
manufacturer to the wholesaler and then the retailer, each person
will pay tax only on the value addition done by him. So, suppose a
manufacturer purchases inputs worth 40
and then produces a good worth 100,
then with a 10 per cent tax rate, his tax liability will turn out to
be only 6(10
per cent of 60).
This is because he gets to set off the tax paid on the inputs
against the tax he pays on the final goods produced.
But this is
not all there is to GST. It promises much more.
The one big
thing that the GST promises to offer is a lower tax burden for
businesses by removing the cascading effect of tax on tax. Today, a
manufactured good first attracts excise duty and thereafter sales tax
is imposed on it. The latter tax is therefore imposed on the price
of a good that is inclusive of excise duty, making it a tax on tax.
The GST will put an end to this for it will be one single tax that
will be imposed only once on the price of a good. Besides, a
manufacturer or seller will be able to fully set
off
the tax paid on all inputs purchased.
Currently,
there is no provision for setting off Central Sales Tax, a tax paid
on goods (input) purchased from another state.
Besides, the
GST rate is expected to be lower than the total of excise duty plus
VAT (add up to about 22-24 per cent) currently paid by manufacturers.
However, service providers (subject only to service tax rate of up
to 12 per cent) are likely to face higher liability. Moreover, India
cannot afford to keep away from implementing the GST if it wants to
integrate
with the global tax system.
Firms will
face lower taxes once GST is put into place and, so, as a consumer
you can hope to benefit from lower prices. Also, as reduced costs
and a hassle-free tax regime boost
businesses, you can expect higher economic growth.
91.
Why are the taxes on petroleum products and alcoholic beverages not
expected to fall?
a)
Because the Central Government has kept these two items out of the
list of GST.
b)
Because there are separate tax laws for these two products.
c) Because
states are not ready to give up their existing taxation powers over
these two products.
d) Because
the Central Government earns highest revenue by imposing tax on these
products and is not ready to relax the tax rate.
e) None of
these
92.
What will happen when GST will come into effect?
(A) All
indirect taxes will be done away with.
(B) The cost
of goods and services will come down.
(C) The
states will earn more revenue through this tax.
a) Only
(A) b) Only (B) c) Only (C) d) Only (A) and (B) e) Only (B) and (C)
93. Which of
the following is incorrect about GST?
a) GST is a
type of VAT.
b)
Manufacturer, wholesaler and retailer pay tax only on the value
addition done by them.
c) GST
involves the process of dual taxation by the Centre and the concerned
State.
d) No other
tax will be imposed once GST comes into effect.
e) None of
these
94. In what
way is the GST beneficial for different tax payers?
(A) There
will be no tax on tax.
(B) A
manufacturer or seller will not have to pay tax on input purchase.
(C) The
expected rate of GST is to be lower than the total of excise duty
plus VAT.
a) All (A),
(B) and (C) b) Only (A) and (B) c) Only (B) and (C)
d) Only (A)
and (C) e) Only (A)
95. Which of
the following is not one of the expected results once the GST is put
in place?
a) There will
be higher economic growth.
b) Firms will
have to pay lower taxes.
c) The cost
price of goods will come down.
d) Service
providers will have to face lower liability.
e) None of
these
Directions
(Q. 96-98): Choose the word/group of words which is MOST SIMILAR in
meaning to the word/group of words printed in bold as used in the
passage.
96. Fret
a) soothe b)
cheer c) rejoice d) worry e) give up
97.
Maze
a)
difficulty b) network c) labyrinth d) methods e) functioning
98. Integrate
a) mix b)
confront c) compete d) detach e) attune
Directions
(Q.99 – 100): Choose the word/group of words which is MOST OPPOSITE
in meaning of the word/group of words printed in bold as used in the
passage.
99. Boost
a)
advance b) upgrade c) decrease d) hike e) lift
100. Set
off
a)
reconcile b) correct c) spoil d) counterbalance e) appease
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ENGLISH-- ANSWERS
71.a; One out of
three companies
72.b; Delete ‘up’
73.b; Replace ‘deep’
with ‘deepen’
74.c; Replace ‘fail’
with ‘failed’
75.d; Inset ‘the’
before ‘US’
76.(B ) 77.(C ) 78.(D
) 79.(D ) 80.(E )
81.(B ) 82.(D ) 83.(A
) 84.(C ) 85.(D ) 86.(E ) 87.(C ) 88.(D ) 89.(B ) 90.(E )
91.(C ) 92.(D ) 93.(E
) 94.(A ) 95.(D ) 96.(D ) 97.(C ) 98.(E ) 99.(C ) 100.(C )
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