RBI Assistant Mains 2022: English Language Quiz –2

RBI Assistant 2022 English Language Quiz

Aspirants have a strong possibility of scoring well in the English Language section if they practice quality questions on a regular basis. This section takes the least amount of time if the practice is done every day in a dedicated manner. In this article, we have come up with the RBI Assistant 2022 English Language Quiz to help you prepare better. Candidates will be provided with a complete explanation for each question in this RBI Assistant 2022 English Language Quiz. This RBI Assistant 2022 English Language Quiz includes a variety of questions ranging in difficulty from easy to tough. This RBI Assistant 2022 English Language Quiz is totally FREE. This RBI Assistant 2022 English Language Quiz has important English Language questions and answers that will help you improve your exam score. Aspirants must practice this RBI Assistant 2022 English Language Quiz in order to be able to answer questions quickly and efficiently in upcoming exams.

Directions (1-5): Read the passage carefully and answer the questions given below it. Certain words/ phrases have been given in bold to help you locate them while answering some of the questions.

It is heartening to observe that developing countries, led by China and other BRICS members, have successfully organised alternative sources of credit flows aiming for financial stability, growth and development. By avoiding IMF-type loan conditionalities and the dominance of the US dollar, these new institutions provide a much-needed change in the global financial architecture.

This assumes significance in the context of the demands being imposed on Greece by the troika of the IMF, the ECB and the EU. That the troika should persist with a narrow disciplinary approach speaks of the limitations of the current system.

These limitations bring to the fore the need for institutional alternatives. The launch of financial institutions by BRICS may achieve a superior global financial order. The financial institutions set up for the purpose include the Asian Infrastructure Investment Bank (AIIB), the BRICS (or New) Development Bank (NDB) , the BRICS-led Contingency Reserve Fund (CRF), and the Silk Road projects.

Of these, the NDB will have $50 billion as starting capital contributed by individual members, to be increased to $100 billion over time. Brazil, Russia, India, China and South Africa will each make an initial contribution of $10 billion. No member can increase its share of capital without consent from the others. While new members from outside BRICS can become members of the NDB, the capital share of the initial members is not allowed to fall below 55 per cent. Members’ shares also determine their direct representation in the decision-making process. In addition to providing liquidity to its members to meet balance-of-payments crisis, the bank aims to provide protection against global liquidity pressures.

As for the CRF, scheduled to start lending in 2016, the five BRICS members have agreed to earmark $100 billion from their foreign exchange reserves to be used for swap lines. China contributes $41 billion, Brazil, Russia and India $18 billion each, and South Africa $5 billion. In other words, CRF is largely funded by Cnina. While controversies relating to the propriety of the NDB have fizzled down to some extent, the installation of the AIIB portal in June has rekindled the debate questioning the legitimacy of such institutions led by China.

The AIIB’s initial capital of $100 billion, while funded by contributions from members of BRICS, is open to contributions from non-members from advanced as well as developing countries, thus making for 57 founding members despite the opposition by the US and Japan. The UK was even subjected to reprisals by the US, which continues to oppose the idea of an Asian bank led by China.

The AIIB is commended as a vehicle for providing credit for infrastructure in developing countries, the need for which, by 2020, would be between $1.8 billion and $2.3 billion. It would reduce the dependence of countries on official sources, which in any case is meagre. The opposition to BRICS institutions from advanced countries indicates the mindset of Bretton Woods institutions and their patron, the US, to continue with the asymmetric power relations.

Reservations have continued to be voiced on the feasibility as well as desirability of BRICS institutions. There are concerns that the group will include dissimilar countries. Linking infrastructure projects to the proposed Silk Road raises questions, especially on the possibility of a hegemonic role by China. The CRF raises doubts about loans being managed without conditional clauses.

Reservations on the workability and desirability of BRICS-led financial institutions harp on the major role China is supposed to play in their management, mainly because of its disproportionate economic strength as the second largest economy in the world. This alternative seems to effectively challenge the prevailing order, managed and controlled by advanced countries in the West and led by the US.

  1. What is/are the reasons behind setting up financial institutions by BRICS countries?

(A) To get rid of tough IMF-type loan conditionalities

(B) To help south Asian countries by making loans available at lower rates

(C) To bring about changes in the global financial architecture

(a) Only (A) and (B)

(b) Only (B) and (C)

(c) Only (A) and (C)

(d) All (A), (B) and (C)

(e) None of these

Answer & Explanation
Ans. c

Exp.  The reasons were: “By avoiding IMF-type loan conditionalities and the dominance of the US dollar, these new institutions provide a much-needed change in the global financial architecture.” For this refer to the first paragraph of the passage.

  1. Which of the following statements is false in the context of the given passage?

(a) The BRICS (or New) Development Bank (NDB) will have $50 billion as starting capital, which will be increased to $100 billion over time.

(b) There is dominance of the US dollar in the IMF.

(c) No country other than BRICS can become a member of the NDB.

(d) Countries having more GDP have edge in the decision-making process.

(e) None of the above

Answer & Explanation
Ans. c

Exp.  The passage says “While new members from outside BRICS can become members of the NDB”. Hence, (c) is the statement which is correct in context of the passage.

  1. What is/are the main aim(s) of BRICS Development Bank? Answer in the context of the passage.

(A) To sanction loans of $100 billion from their foreign exchange reserves

(B) To provide liquidity to its members to meet balance-of-payments crisis

(C) To provide protection against global liquidity pressures

(a) Only (A) and (B)

(b) Only (B) and (C)

(c) Only (A) and (C)

(d) All (A), (B) and (C)

(e) Only (C)

Answer & Explanation
Ans. b

Exp.  The passage says:  “In addition to providing liquidity to its members to meet balance-of-payments crisis, the bank aims to provide protection against global liquidity pressures.” Hence, (B) and (C) are the correct options in context of the passage.

  1. Who among the following has been assigned the task of providing credit for infrastructure in developing countries?

(a)AIIB

(b) IMF

(c)ECB

(d) EU

(e) All the above

Answer & Explanation
Ans. a

Exp.  The passage says: “The AIIB’s initial capital of $100 billion, while funded by contributions from members of BRICS, is open to contributions from non-members from advanced as well as developing countries” . Hence, (a) is the correct option.

  1. What doubts have been raised about BRICS institutions?

(a) The CRF raises doubts about loans being managed without imposing any condition on borrower.

(b) Non-BRICS countries may create problems in smooth functioning of the NDB.

(c) Hegemonic role by China raises doubts

(d) Only (a) and (b)

(e) Only (a) and (c)

Answer & Explanation
Ans. e

Exp.  The doubts in context of the passage are: “Linking infrastructure projects to the proposed Silk Road raises questions, especially on the possibility of a hegemonic role by China. The CRF raises doubts about loans being managed without conditional clauses.” Hence, (e) is the correct option.

Directions(6–130) : Which of the words/phrases (a), (b), (c) and (d) given below should replace the words/phrases given in bold in the following sentences to make it meaningful and grammatically correct. If the sentence is correct as it is and ‘No correction is required’, mark (e) as the answer.

6.In his parting message to the nation, President Barack Obama is asserting his continued belief in the aptitude of all Americans to bring about powerful national change, despite the trials of the last eight years that so often stood between him and his plans.

(a)proclaiming, assent, strength, inanity

(b)revealing, belief, incompetence, ambitions

(c)declaring, faith, ability, goals

(d)renouncing, certitude, capacity, intentions

(e)No error

Answer & Explanation
Ans. c

Exp. declaring- say something in a solemn and emphatic manner.

7.The railways will provide ATMs on platforms in stations, stream  music and movies in trains and ‘brand’ trains to hike advertising revenue, opening up new income streams.

(a)establish, facilitate, get, credit

(b)put up, offer, boost, revenue

(c)open, telecast, increment, business

(d)construct, play, advance, dividend

(e)No error

Answer & Explanation
Ans. b

Exp. put up– construct, build, or erect

8.When the Mumbai Marathon commence this Sunday, all the runners will be participating, except one. Deepuk Kanal will try to create a world record by running the entire 21-km half marathon sideways. And he will bear the Indian flag as well

(a)starts, competing, sidewalk, tote

(b)begins, looking forward, seek, lug

(c) starts, run, retreat, fetch

(d) kicks off, facing forward, attempt, carry

(e) No error

Answer & Explanation
Ans. d

Exp. kicks off– to begin, or to begin something

9.It needs to evolve a process for appointments to the TNPSC that will make integrity and calibre the principal qualifications, while also drawing upon a wider pool of talent than what the ruling party’s limited list of favourites has to offer.

 

(a)program, probity, ascendency, large

(b)advance, sincerity, frivolity, bigger

(c)develop, honesty, eminence,  vast

(d)unfold, probity, competence, larger

(e)No error

Answer & Explanation
Ans. e

Exp. integrity– the quality of being honest and having strong moral principles.

Evolve– develop gradually.

10.Prime Minister NarendraModi’s African visit in July 2016 took him to South Africa, Mozambique, Tanzania and Kenya. He received a sweltering welcome everywhere, but he built an instant empathy with the Kenyan president who is committed to development, counterterrorism and tumult in East Africa.

(a)quest, tepid, aversion, unity

(b)tour, stormy, link, uproar

(c)safari, warm, rapport, peace

(d)journey, pleasant, convulsion, amity

(e) No error

Answer & Explanation
Ans. c

Exp. safari– an expedition to observe

Rapport– a close and harmonious relationship in which the people or groups concerned understand each other’s feelings or ideas and communicate well.

Spelling Errors (PART-2)

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