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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.
  1. 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.
  2. The Indian insurance Industry is as old as it is in any other part of the world.
  3. 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.
  4. The first insurance company in India was started in 1818 in Kolkata.
  5. Nationalization has lent the industry solidity, growth and outreach, which is unparalleled.
  6. 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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ENGLISH FOR BANK PO AND CLERKS -- NO.2 Reviewed by sambasivan srinivasan on 7:05:00 PM Rating: 5

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