English (for
Bank Exams)
Read
the following passage carefully and answer the questions given below it.
Certain words have been printed in bold to help you locate them while answering
some of the questions.
Passage:
Political ploys initially hailed as masterstrokes often end up as flops. The Rs.60,000 crore farm loan waiver announced in the budget writes off 100% of over dues of small and marginal farmers holding up to two hectares and 25% of over dues of larger farmers. While India has enjoyed 8-9% GDP growth for the past few years, the boom has bypassed many rural areas and farmer distress and suicides have made newspaper headlines. Various attempts to provide relief (employment guarantee scheme, public distribution system) have had little impact, thanks to huge leakages from the government's lousy delivery systems. So, many economists think the loan waiver is a worthwhile alternative to provide relief.
Political ploys initially hailed as masterstrokes often end up as flops. The Rs.60,000 crore farm loan waiver announced in the budget writes off 100% of over dues of small and marginal farmers holding up to two hectares and 25% of over dues of larger farmers. While India has enjoyed 8-9% GDP growth for the past few years, the boom has bypassed many rural areas and farmer distress and suicides have made newspaper headlines. Various attempts to provide relief (employment guarantee scheme, public distribution system) have had little impact, thanks to huge leakages from the government's lousy delivery systems. So, many economists think the loan waiver is a worthwhile alternative to provide relief.
However,
the poorest rural folk are landless labourers, who get neither farm loans nor
waivers. Half of small and marginal farmers get no loans from banks and depend
entirely on moneylenders and will not benefit. Besides, rural India is full of
family holdings rather than individual holdings and family holdings will
typically be much larger than two hectares even for dirt-poor farmers, who
will, therefore, be denied the 100% waiver. It will thus fail in both its
economic and political objectives. IRDP loans to the rural poor in the 1980s
demonstrated that crooked bank officials demanded bribes amounting to one-third
of the intended benefits. Very few of the intended beneficiaries
who merited relief received it. After the last farm loan waiver in
1990, many banks went slow on fresh farm loans for some years. This waiver would
similarly slowdown fresh loans to deserving farmers. While over dues to
cooperatives may be higher, economist Surjit Bhalla says less than 5% of farmer
loans to banks are overdue, i.e., over dues exist for only 2.25 million out of
90 million farmers. If so, then the 95% who have repaid loans will not benefit.
They will be angry at being penalised for honesty.
The budget thus grossly overestimated the number of beneficiaries. It also underestimated the negative effects of the waiver-encouraging wilful defaults in future and discouraging fresh bank lending for some years. Instead of trying to reach the needy through a plethora of leaky schemes, we should transfer cash directly to the needy, using new technology like biometric smart cards, which are now being used in many countries and mobile phone bank accounts. Then, benefits can go directly to phone accounts operable only by those with biometric cards, ending the massive leakages of current schemes.
The political benefits of the loan waiver have also been exaggerated since if only a small fraction of farm families benefit and many of these have to pay bribes to get the actual benefit, will the waiver really be a massive vote-winner? Members of joint families will feel aggrieved that despite having less than one hectare per head, their family holding is too large to qualify for the 100% waiver. All finance ministers, of the central or state governments, give away freebies in their last budgets, hoping to win electoral regards. Yet, four-fifths of all incumbent governments are voted out. This shows that beneficiaries of favours are not notably grateful, while those not so favoured may feel aggrieved and vote for the Opposition. That seems to be why election budgets constantly fail to win elections in India and the loan waiver will not change that pattern.
1. According to the author, what is the government's motive in sanctioning the loan waiver?
a) To
encourage farmers to opt for bank loans over loans from moneylenders
b) To
raise 90 million farmers out of indebtedness
c) To
provide relief to those marginal farmers who have the means to, but have not
repaid their loans
d) To
ensure they will be re-elected
e) None
of the above
Ans: (e)
2. What was the outcome
of IRDP loans to the rural poor?
a) The percentage of bank loans sanctioned
to family owned farms increased
b) The loans benefited dishonest money
lenders, not landless labourers
c)
Corrupt
bank officials were the unintended beneficiaries of the loans
d)
It
resulted in the Government sanctioning thrice the amount for the current loan
waiver
e)
None
of the above
Ans: (c)
3. Choose the word which is most
nearly the SAME in meaning as the word printed in bold as
used in the passage.
Ploys
a)
Surveys
b)
Entreaties
c)
Ruses
d)
Conspiracies
e)
Assurances
Ans: (c)
4. What message will the loan waiver
send to farmers who have repaid loans?
a)
The
Government will readily provide them with loans in the future
b)
As
opposed to moneylenders, banks are a safer and more reliable source of credit
c)
Honesty
is the best policy
d)
It
is beneficial to take loans from cooperatives since their rates of interest are
lower
e)
None
of the above
Ans: (e)
5. What is the author's suggestion to
provide aid to farmers?
a) Families
should split their joint holding to take advantage of the loan waiver
b) The
government should increase the reach of the employment guarantee scheme
c) Loans
should be disbursed directly into bank accounts of the farmers using the latest
technology
d) Government
should ensure that loan waivers can be implemented over a number of years
e) Rural
infrastructure can be improved using schemes which were successful abroad.
Ans: (c)
Read the following passage carefully to answer the questions. Certain
words are printed in bold to help you locate them while answering
some of the questions.
India's nuclear ambition had been the bone of contention for a very long
time. It was a settled belief in our country that the US began
to stress the issue of signing the CTBT only in more recent round of
talks when the two countries had come close to an agreement on the other
issues, including the CTBT, because it is part of its somewhat browbeating
style of doing business. But a moment's reflection would show that there could
be another explanation. In the aftermath of Pokhran-II when tempers
had cooled, the US was predisposed to accept our Prime Minister's
repeated assertions that India intended to arm it with nuclear weapons only as
a deterrent to a nuclear attack or blackmail.
6. Which of the following statements is False in the context of the
passage?
(i) Only because of Pokhran-II the US had accepted Indian Prime Minister's assertion about India's nuclear policy.
(ii) The rounds of talks were being held by at least three countries, the US being the mediator.
(iii) Indian Prime Minister has assured the world that it would not initiate nuclear attack on any nation.
(i) Only because of Pokhran-II the US had accepted Indian Prime Minister's assertion about India's nuclear policy.
(ii) The rounds of talks were being held by at least three countries, the US being the mediator.
(iii) Indian Prime Minister has assured the world that it would not initiate nuclear attack on any nation.
a) Both
(i) and (iii)
b) Both
(i) and (ii)
c) Only
(ii) and (iii)
d) All
the three
e) None
of these
Ans: (c)
7. Which of the following conclusions can be drawn from the contents of
the passage?
(i) India's possessing nuclear arsenals has frightened some countries.
(ii) India is not reluctant to sign the CTBT.
(iii) The US wants India to sign the CTBT.
(i) India's possessing nuclear arsenals has frightened some countries.
(ii) India is not reluctant to sign the CTBT.
(iii) The US wants India to sign the CTBT.
a) Both
(i) and (ii)
b) Both
(ii) and (iii)
c) Both
(i) and (iii)
d) All
the three
e) None
of these
Ans: (b)
8. Choose the word which is most nearly the SAME in meaning as the word given
in bold as used in the passage.
Aftermath
Aftermath
a) Devastation
b) Disharmony
c) Posterity
d) Consequence
e) Contemporary
Ans: (d)
9. Choose the word which is most nearly the SAME in meaning as the word
gNen in bold as used in the passage.
Stress
Stress
a) Enforce
b) Emphasize
c) Pressurise
d) Suppress
Ans: (c)
10. Choose the word
which is most OPPOSITE in meaning of the word given in bold as used in the
passage.
Agreement
Agreement
a) Dissension
b) Harmony
c) Refusal
d) Misunderstanding
e) Differential
f) Implement
Ans: (a)
11. Choose the word which is most nearly the SAME in meaning as the word given
in bold as used in the passage.
Predisposed
Predisposed
a) Reluctant
b) Unprepared
c) Ready
d) Hesitant
e) Interested
Ans: (c)
Rearrange the following six sentences (A), (B), (C), (D), (E) and (F) in
the proper sequence to form a meaningful paragraph; then answer the questions
given below them.
A. Voluntary measures such as codes of conduct have failed to address these issues and deliver change.
B. However, they can also cause serious problems with their irresponsible behaviour.
C. Companies are a powerful force for good.
D. There are several instances of companies undermining worker's rights and damaging the environment.
E. The Companies Bill 2009 is thus a means to address issues of corporate governance and ensure companies are accountable for their financial performance and social impact.
F. They provide jobs, boost economies and aid social and environmental development.
12. Which of the above should be the LAST (SIXTH) sentence after rearrangement?
Ans: (E)
13. Which of the above should be the First sentence
after rearrangement?
Ans: (c)
14. Which of the above should be the Third sentence after arrangement?
Ans: (B)
15. Which of the above should be the Second sentence after rearrangement?
Ans: (F)
16. Which of the above should be the Fifth sentence after rearrangement?
Ans: (A)
Rearrange the following six
sentences (A), (B), (C), (D), (E) and (F) in the proper sequence to form a
meaningful paragraph; then answer the questions given below them.
A. In fact he believed
that customers are the origin, the source of the money we have.
B. The customer thus has
the power to fire everybody in the company from the chairman on down.
C. Management can ensure
this doesn't happen by motivating employees to cultivate meaningful
relationships with customers
D. Sam Walton built his
Walmart business- empire knowing there was only one boss-the customer.
E. So it is not the
company which pays us but the customer.
F. He can achieve this by
simply spending his money elsewhere.
17. Which of the above will be the
Third sentence after the
arrangement?
Ans:
(E)
18. Which of the above will be the
First sentence after the
arrangement?
Ans:
(D)
19. Which of the above will be the
Last sentence after the arrangement?
Ans:
(C)
20. Which of the above
will be the Fourth sentence after
the arrangement?
Ans:
(B)
One of the four words given in
each of these questions may be wrongly spelt. The number of that wrongly spelt
is the answer. If all the four words are correctly spelt, mark (5) i.e., 'All
Correct' as the answer.
21. (1)
Wastefull
(2) Prejudice
(3) Expensive
(4) Embarrassing
(5) All correct
Ans: (1)
22. (1) Prosperous
(2) Glumy
(3) Dormant
(4) Derogatory
(5) All correct
Ans: (2)
23. (1) Significant
(2) Possessive
(3) Impatient
(4) Device
(5) All correct
Ans: (5)
24. (1) Defamation
(2) Arrogant
(3) Solitude
(4) Exhorbitant
(5) All correct
Ans: (4)
25. (1) Decompose
(2) Veteran
(3) Venturesome
(4) Definition
(5) All correct
Ans: (5)
