English Quiz On Reading Comprehension Day 13 Bag

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Passage 1

It is important for students to keep an update on what is happening around the world. Banking examinations these days are also emphasizing more on national and international aairs. Under the new initiative launched by the banking team of Jagranjosh.com, the undisputed leader in banking prep industry, we are presenting to you a passage from The ‘Times of India’ (dated December 26th 2016) for honing your reading comprehension skills. Article: ‘IITs bust myth, now host more PG than UG students’ The IITs have graduated. From famously being undergraduate colleges for over half a century, they have now reached the exalted status of being largely graduate academies. More residents at these institutes today are pursuing their master’s degree; they have trumped their juniors who used to make up the lion’s share on the campus. Academic might multiplied by research power today shatters everything that the IITs were. The world view of the IITs was captured in a recent IIT review report by Anil Kakodkar. It points out, “The IITs have distinguished themselves for the quality of their BTech degrees. IIT’s brand image is primarily due to the very distinguished performance of its BTech students.” In the same vein, the report expressed concern over the fact that few top-class student were opting for postgraduate studies. But a clampdown on work visas in Western countries, slowing down of the global economy and a boost given to startups at home have seen the tide turning. In 2015, the seven old IIT campuses graduated a total of 6,002 undergraduate students, 6,168 master’s students and 1,902 PhD candidates. Student population today is more diverse and hostel cuisine ecumenical. Riding to lectures on horseback, knowing everyone in college, unlimited food in the mess and a room for each are long forgotten equations. IIT-Guwahati director Gautam Biswas says, “These changes have made the campus very vibrant and an ideal location to pursue a career.” Derided as undergrad colleges that saw most pass-outs jumping on to a plane to do an MS and follow dollar dreams, most IITians are chalking newer routes. IIT-Delhi registrar Sandeep Chaterjee says, “The trend varies. Now many IIT students prefer to do PG or research from IIT Delhi. Similarly, students from NIT/IISER and other higher educational/engineering institution prefer to do PG or a research degree programme from IIT-Delhi due to its high-ranking, academic facilities and availability of R&D labs/equipment, projects, etc.” What this translates into is that hundreds of non-IIT engineers—the ones who did attend these tech Ivys after high school—are walking past the gates at the next, higher level—PG. “The ratio has shifted positively as more students from smaller towns come to IIT to study,” said IIT-Bombay director Devang Khakhar. Roughly, data shows that about 20% PG students are from IITs, NITs, ISM and IIITs. The trend is likely to get more pronounced as the institutes work to ramp up research scholars on campus. So, the altering of UG-PG student ratio is not a one-year blip. IIT-Madras director Bhaskar Ramamurthi refers back to the Kakodkar Committee “This means that intake must be approximately of this order. We were graduating only 150 or so in 2010-11, but are moving towards 400+ by 2018-19,” he adds. Assuming that PhD students take 5-plus years to earn their degrees, it means that at least 3,000 PhD students must be on the rolls at any point in time on the Madras campus. “For high-end activities that involve new technology and development, one needs to have high- quality engineers and technologists at the postgraduate and PhD levels in large numbers,” the committee notes.

 

 

  1. Why do you think that IITs have reached the exalted status of being largely graduate academics?
  2. IITs play a major role in transforming lives.
  3. IITians gets job oers in lacs during placement session.
  4. IITs are distinguished themselves for the quality of their B.Tech degree.
  5. All of the above.
  6. Other than those given in the options.

 

Solution: Option (4) Explanation: According to the passage, IITs are one of the popular and one of the few institutes oering nest technical education. Its cultural diversity and record high placements are well known in the country for transforming lives. Therefore, (4) is the right choice and make IITs one of the prestigious institutions.

 

  1. Why, according to the author of the passage, most pass-out students are going abroad to pursue their MS?
  2. They want to pursue their dollar dreams.
  3. They are inuenced by the better standard of living and quality of life.
  4. Better research facilities.
  5. Higher cuto rate in the best Indian universities.
  6. Other than those given in the options.

 

Solution: Option (1) Explanation: According to the passage, most of the students are opting to do their MS abroad in order to follow their dollar dreams. Though, the other factors or reasons mentioned above also hold true forthe reason of their abroad journey. But the author of the passage has strongly mentioned their reason for pursuing their dollar dreams. So, this makes (1) the right choice among the given options.

 

  1. How, according to the author, the brain-drain has seen a tide turning?
  2. Flexibility in labour laws which has denitely help startups and entrepreneurs.
  3. Slowing down of the global economy.
  4. Stringent work visa regulations in western countries.
  5. All of the above.
  6. Other than those given in the options.

 

Solution: Option (4) Explanation: According to the passage, the brain drain (refers to having highly skilled and educated people leaving their home country to work abroad) has seen a reverse action due to favorable policies of the government which has boosted the startup culture. Also with stringent visa regulations and slowing of the global economy, many youths are turning back to their home country to create opportunity. Thus, all the above-mentioned options are applicable in this case.

 

  1. What is the name of leading academic institute for being the rst choice for students’preference to do PG or research (from the passage)?
  2. IIM Bangalore
  3. IIT Mumbai
  4. IIT Kharagpur
  5. IIT Delhi
  6. IIT Madras
  7. Other than those given in the options.

 

Solution: Option (4) Explanation: According to the passage, many IIT students prefer to do PG or research from IITDelhi. Similarly, students from NIT/IISER and other higher educational/engineering institution prefer to do PG or a research degree program from IIT-Delhi due to its high-ranking, academic facilities and availability of R&D labs/equipment, projects, etc. So, this makes option (4) an apt choice among the given options.

  1. How, according to the passage, most IITians are chalking newer routes?
  2. They are opening their own startups in India.
  3. They are opting for teaching, instead of working in their traditional jobs.
  4. Many IIT students prefer to do PG or research from IIT Delhi due to its high-ranking academic facilities and availability of R&D labs/equipment, projects, etc.
  5. They are aspiring to make a mark in India’s bureaucracy.
  6. Other than those given in the options.

 

Solution: Option (3) Explanation: According to the passage,most IIT students prefer to do their PG or research from IIT Delhi due to their highly advanced academic facilities along with world-class faculties imparting technical know-how them. So, this makes option (3) an apt choice among the given options.

  1. What is one of the key recommendations of the Kakodkar Committee?
  2. Introduce more courses to match their global diversity needs.
  3. Emphasize on “education-research-technology-innovation-entrepreneurship eco-system” in the country.
  4. Provide better cost and benets of the program.
  5. Intake of more students and faculties in their Ph.D graduation program.
  6. Other than those given in the options

 

Solution: Option (4) Explanation: According to the passage, the Kakodkar Committee has directed IITs to increase their Ph.D graduation rate. It means an intake of more students and faculties in large number which can bring high-quality engineer and technologists at the postgraduate and Ph.D levels. So, this makes option (4) the right choice among the given options.

  1. Which among the following is similar in meaning to the word ‘exalted’ as used in the passage?
  2. Criticized
  3. Impossible
  4. Illustrious
  5. Daunting
  6. Other than those given in above options

 

Solution: Option (3) Explanation: Among the given options, ‘Illustrious’ is the right choice since the given word implies that IITs are recognized to be one of the best institutes for higher education.

  1. Which among the following is similar in meaning to the word ‘trumped’ as used in the passage?
  2. Outshine
  3. Abashed
  4. Irked
  5. Embarrassed
  6. Other than those given in the options

 

Solution: Option (1) Explanation: Among the given options, ‘Outshine’ is the right choice since the given word implies that the seniors (already passed out) have outshined their juniors, who bagged exorbitant package from their campus placement.

 

  1. Which among the following is opposite in meaning to the word ‘clampdown’ as used in the passage?

 

  1. Suppression
  2. Repression
  3. Freedom
  4. Surrender
  5. Other than those given in the options

 

Solution: Option (1) Explanation: Among the given options, ‘Repression’ is the right choice.  Due to Brexit, there have been stricker laws with respect to visa regulations in western countries. Therefore, a lot of students are opting for studying in their home country, instead of moving abroad. Their braindrain is suppressed by stricker immigration laws.

 

  1. Which among the following is opposite in meaning to the word ‘ecumenical’ as used in the passage? 1. Unlimited
  2. Rural
  3. Hygienic
  4. Incomprehensive
  5. Other than those given in the options

 

Solution: Option (4) Explanation: Among the given options, ‘incomprehensive’ is the right choice. Since the student populations have gone more diverse, the hostel cafeteria has also adopted various cuisines to their menu, to suit everyone’s taste bud.

 

Passage 2

It has been observed in the recent times that reading comprehension section is one of the trickiest parts in bank examination. To help you conquer this fear, we are bringing you passages taken from leading newspapers as The Hindu, The Economic Times, The Business Standard, The Business Line, The Times of India, The Indian Express etc. Here we are providing a passage from the ‘Times of India’ (dated December 25th, 2016) and question based on that. You are advised to solve below quiz and strengthen your preparation for upcoming bank exams. Good luck! Article: Pope Christmas message offers hope in world hit by terrorism, war Pope Francis on Sunday offered a  Christmas hope for peace in a world lacerated by war and terrorism, urging people to remember migrants, refugees and those hit by economic instability caused by “idolatry of money”. Francis, marking the fourth Christmas season since his election in 2013, also urged Palestinians and Israelis, facing renewed tension after a U.N. resolution condemning Israeli settlements on occupied land, to have the courage to put aside hate and revenge and “write a new page of history”. His traditional “Urbi et Orbi” (to the city and the world) message was linked by a common thread of war, violence and suffering at a time that should be defined by harmony and peace symbolised by the infant Jesus. “Peace to those who have lost a person dear to them as a result of brutal acts of terrorism, which have sown fear and death into the hearts of so many countries and cities,” he told some 40,000 people gathered in St. Peter’s Square. Security was heightened for the Christmas weekend in Italy and at the Vatican after Italian police killed the man believed to be responsible for the Berlin market truck attack while other European cities kept forces on high alert. “Today this message (of peace) goes out to the ends of the earth to reach all peoples, especially those scarred by war and harsh conflicts that seem stronger than the yearning for peace,” he said, speaking in Italian from the central balcony of St. Peter’s Basilica. He called for peace in Syria, urging immediate assistance to the exhausted population of the city of Aleppo, which Syrian government forces recaptured last week after four years of devastating fighting with rebels. “It is time for weapons to be still forever (in Syria), and the international community to actively seek a negotiated solution, so that civil co-existence can be restored in the country,” he said. Francis, the first Latin American pope, also said Christmas should inspire everyone to help the less fortunate, including migrants, refugees and those swept up by social and economic upheavals. “Peace to the peoples who suffer because of the economic ambitions of the few, because of the sheer greed and the idolatry of money, which leads to slavery,” he said. At his Christmas eve Mass on Saturday, Francis said the feast had been “taken hostage” by dazzling materialism that puts God in the shadows. On Sunday, he also called for an end to “fundamentalist terrorism” in Nigeria, a reference to Boko Haram, which has killed 15,000 people and displaced more than two million during a seven-year insurgency to create an Islamic state. Francis further appealed for an end to tensions between the government and opposition in Venezuela, for harmony in Colombia, which recently ended a civil war with FARC guerrillas, and an end to strife on the Korean peninsula and in Myanmar.

 

 

  1. What, according to the author, is the true message imparted by Pope in his traditional message “Urbi et Orbi” (to the city and the world)?

 

  1. He talked about climate change and global warming.
  2. He talked about disarmament of weapons of mass destruction and biological weapons.
  3. He talked about human rights violations.
  4. He talked about war, violence and suffering hit by terrorism.
  5. Other than those given in the options.

 

Solution: Option (4) Explanation: According to the passage, the prime message imparted by Pope (in his traditional message) was all about war, violence and suffering are hit by terrorism. His message offered a ray of hope on the eve of Christmas. He urged people to remember and pray for all those who lost their life in the battle against terrorism. So, this makes option (4) the right choice among the given options.

 

  1. Why do you that security was heightened for the Christmas weekend in Italy?

 

  1. Due to Bastille Day truck attack.
  2. Due to Berlin market truck attack.
  3. Due to the fear of violence in a crowded Christmas market.
  4. Christmas markets are specific targets for Jihadists.
  5. Other than those given in the options.

 

Solution: Option (2) Explanation: According to the passage, the security was heightened for the Christmas weekend in Italy and at the Vatican after Italian police killed the man, who believed to be responsible for the Berlin market truck attack while other European cities kept forces on high alert. So, this makes option (2) the right choice among the given options.

 

  1. How, according to the author of the passage, Palestinians and Israelis can write a new page in the history?
  2. By putting aside hate and revenge.
  3. By staying alerted and reporting suspicious activities.
  4. By refusing to negotiate with terrorists.
  5. By adopting zero tolerance and aggressive policies.
  6. Other than those given in the options

 

Solution: Option (1)

 

  1. What, according to the passage, is the real motivation behind the four-year civil war in Syria?
  2. Gaining full control over the largest city of Aleppo.
  3. Sheer greed and the idolatry of money.
  4. Establishing the areas of territorial control inside Syria.
  5. Home-coming of the refugees who were fled across the border of Turkey and Europe.
  6. Other than those given in the options.

 

Solution: Option (2) Explanation: According to the passage, Syria has been a battle ground and the Pope in his message condemned the killing and prayed for peace for all the migrants, refugees and the ones who lost their life in this battle.  He particularly quoted “Peace to the peoples who suer because of the economic ambitions of the few, because of the sheer greed and the idolatry of money, which leads to slavery,”. So, this makes option (2) an apt choice among the given options.

 

  1. According to the passage, why people of Syria need immediate assistance?

 

  1. Half of the country’s pre-war population has been killed or forced to flee their homes.
  2. Bombings are destroying cities and horrific human right violations are widespread.
  3. An increased number of Syrian refugees are fleeing across the border of Turkey and Europe, and creating new cultural tensions.
  4. The war-torn population of the city of Aleppo is suffering a lot since Syrian government forces recaptured last week after four years of devastating fight with rebels.
  5. Other than those given in the options

 

Solution: Option (4) Explanation: Although all the points mentioned above are some of the glaring problems faced by the people of Syria. But, according to the passage, the Pope was concerned over the exhausted population of Aleppo who was suffering a lot. It has been a battle ground of Syrian government forces, who recaptured last week after four years of devastating fight with rebels. So, this makes option (4) an apt choice among the given options.

 

  1. Who was Pope referring to, when he called for an end to “fundamentalist terrorism”?
  2. Al Qaeda
  3. ISIS
  4. Haqqani Network
  5. Boko Haram
  6. Other than those given in the options

 

Solution: Option (4)

Explanation: According to the passage, he was pointing out towards Boko Haram’s violence in the form of killing of more than 15, 000 people in Nigeria. So, this makes option (4) the right choice among the given options.

 

  1. Which among the following is similar in meaning to the word ‘lacerated’ as used in the passage?
  2. Harm
  3. Heal
  4. Smite
  5. Harass
  6. Other than those given in above options

 

Solution: Option (1)

Explanation: Among the given options, ‘harm’ is the right choice since the given word implies that the whole world is torn by war and terrorism along with growing economic instability. Citizens across the world are fighting an unsaid war every day and are paying the price in the form of their lives.

 

  1. Which among the following is similar in meaning to the word ‘idolatry’ as used in the passage?

 

  1. Admiration
  2. Worship
  3. Veneration
  4. Enchantment
  5. Other than those given in the options Solution:

 

Option (2)

Explanation: Among the given options, ‘Worship’ is the right choice since the given word means that people in today’s world worship money and are ready to do anything to gain more and more wealth. It has also caused economic instability in the world. People are fighting for money but with the money. Terrorist organizations get a stream of donations from supporters in countries around the world.

 

  1. Which among the following is opposite in meaning to the word ‘yearning’ as used in the passage?
  2. Fascination
  3. Enthusiasm
  4. Indifference
  5. Devotion
  6. Other than those given in the options

 

Solution: Option (3)

Explanation: Among the given options, ‘Indifference’ is the right choice. Pope in his traditional message exclaims that he desires peace and stability in the world. The brutal attacks on countries and cities have resulted in the loss of their near ones. It should be stopped at any cost.

 

  1. Which among the following is opposite in meaning to the word ‘insurgency’ as used in the passage? 1. Turmoil
  2. Back talk
  3. Peace
  4. Revolt
  5. Other than those given in the options

 

Solution: Option (3) Explanation: Among the given options, ‘Peace’ is the right choice. In the passage, Pope also urged for an end to “fundamental terrorism” in Nigeria. He was pointing out towards Boko Haram’s violence in the form of killing of more than 15,000 people and committing cruel and inhuman treatment towards girls and its prisoners.

 

Passage 3

The competitive exams, these days, are also focused on judging your understanding and knowledge of the given subject. So, in order to hone your skills for your upcoming banking examination, we are we are bringing to you a Reading comprehension quiz taken from ‘Economic Times’ (dated December 29th, 2016). Article: ‘Human behaviour is contagious: We all do as others do’ We did an interesting experiment in Mumbai some time back. We got 98 households across a few housing societies in Bandra and Khar to provide us with their electricity bills before the bills reached each member’s house. We then calculated the average bill amount in that particular society. Let’s say the average was Rs 1,022. For all above-average users, we put a stamp stating that the average in that society is Rs 1,022. Next to their above average amount, we put a frownie indicating that they could do better. The average number set the social norm and got the above average users to act like their neighbours and reduce their electricity consumption by 1.33 per cent. 1.33 per cent sounds small, but it can power 17,465 villages for one whole year. We called the experiment People Power because it gives people the power to make a dierence at no cost. Human behaviour is contagious. Our actions are often guided by how people around us are behaving. The information provided by the stamp let the above-average users know how much their neighbours were consuming. That set the social norm and got them to reduce their power consumption. We do as others do. If people see other people littering, they litter too. If people see other people throwing waste in dustbins, they use dustbins too. If people see other people cheating, they cheat too. If people see other people being honest, they behave honestly too. Behavioural science studies show that people dress in the same styles as their friends, pick dishes preferred by other diners, choose restaurants that are more crowded, are more likely to get fat if people around them become fat, are more likely to quit smoking if their friends quit, pay taxes if others are paying, vote if their spouse votes, and so on. A five-star review on Amazon leads to approximately 20 more books sold than one-star reviews. This behavioural science principle of ‘social proof ‘ made a popular American infomercial for a home shopping channel change the all-too familiar call-to-action line at the end of the infomercial, “Operators are waiting, please call now” to “If operators are busy, please call again”. This simple change led to its sales skyrocketing. On the face of it, the change seems foolhardy. After all, the message indicates that one may have to waste their time redialing till they reach a sales representative. Yet it worked so brilliantly. Consider the kind of mental image that’s likely to get generated when you hear, ‘Operators are waiting, please call now’ — scores of bored phone representatives while they wait by their silent telephones — an image indicative of low demand and poor sales. Consider how your perception of the popularity of the product would change when you hear, ‘If operators are busy, please call again’ — operators going from phone call to phone call without a break, right? That made people think: ‘If the phone lines are busy, then other people like me who are also watching this infomercial must be calling too. Most people think they are different. But in reality most of us behave the way others do. So powerful is the effect of others on us that television executives love to ll comedy shows with canned laughter. Experiments by lots of behavioural scientists have found that the use of canned laughter causes an audience to laugh longer and more often when humorous material is presented. People rate the material as funnier. In addition, evidence indicates that canned laughter is most effective for poor jokes. In another experiment conducted by behavioural scientists Noah Goldstein, Robert Cialdini and Vladas Griskevicius (‘A Room with a Viewpoint: Using Social Norms to Motivate Environmental Conservation in Hotels’, goo.gl/OJT1pb), different kinds of signs were placed in hotel rooms. One of the signs asked guests to help save the environment by reusing their towels. The second one informed them that the majority of guests at the hotel recycled their towels to help save the environment. The second sign had a success rate of 26 per cent more than the rst sign. A third sign informed guests that majority of people who had previously stayed in their particular room recycled their towels to help save the environment. The third sign had a success rate of 33 per cent more than the first sign. Now only if hotels could apply the same principle to reducing theft of towels, shampoos, bed-sheets, stationary and, yes, appliances too.

 

  1. Why, according to the author, do you think that human behavior is contagious?
  2. We are wired for social interaction and bonding.
  3. We copy other people’s habits and styles.
  4. Our actions guided by how people around us are behaving.
  5. All of the above.
  6. Other than those given in the options.

 

Solution: Option (4)

Explanation: According to the passage, our human behaviour is contagious in nature since most of our actions are guided by how people around us are behaving. Our heads are wired for social interaction and bonding. Therefore, we tend to copy other’s behavior, likes, and dislikes, etc. This makes option (4) the right choice among the given options.

 

  1. How this behavioral science principle helped a popular American infomercial?
  2. Their mental image was improved.
  3. Their sales were skyrocketing.
  4. The perception of their customers changed.
  5. It was hard to resist their offer.
  6. Other than those given in the options.

 

Explanation: According to the passage,the behavioural science principle of social influence made a popular American infomercial for a home shopping channel change by making customers believe that the operators are waiting for them at the other end of the line. This simple change led to its sales sky-rocketing. So, this makes (2) the right choice among the given options.

 

  1. Why, according to the author, the television executives fil comedy shows with canned laughter?
  2. They don’t have anything else to show.
  3. People like to laugh at others.
  4. People laugh more on poor jokes.
  5. Both (2) and (3).
  6. Other than those given in the options.

Solution: Option (4)

Explanation: According to the passage, the use of canned laughter causes an audience to laugh longer and more often when a humorous material is presented. Also, the canned laughter is most eective for poor jokes as well. This makes option (4) an apt choice

 

  1. How, according to the passage, does the simple experiment conducted by behavioral scientists helped hotel industry?
  2. It prevented hotel room theft.
  3. It helped the hotel to remain clean and clear.
  4. It helped the hotel to reuse towels.
  5. It helped the hotel to convince guests to copy others.
  6. Other than those given in the options.

 

Solution: Option (3) Explanation: According to the experiment conducted by behavioural scientists Noah Goldstein, Robert Cialdini and Vladas Griskevicius (‘A Room with a Viewpoint: Using Social Norms to Motivate Environmental Conservation in Hotels’), hotels were encouraged to give guests the option of reusing their towels to help save their environment. So, this makes option (3) an apt choice among the given options.

 

  1. Why, according to the passage, the experiment was called as “People Power”?
  2. Because it gives people the power to socialize and mingle with others.
  3. Because it gives people the power to make a difference at no cost.
  4. Because it gives people the power to copy others, without feeling ashamed.
  5. Because it gives people the power to listen to their souls.
  6. Other than those given in the options.

 

Solution: Option (2)

Explanation: According to the passage, the experiment was called as “People Power” because it gives people the power to make a dierence at no cost. So, this makes (2) an apt choice among the given options.

 

  1. What is your take on human behavior after reading the above passage?

 

  1. Human behavior is complex and difficult to understand.
  2. Human behavior is influenced by attitude, perception, cultural and social norms, etc.
  3. Human behavior is influenced by their subconscious mind.
  4. Human behavior is impossible to change.
  5. Other than those given in the options.

 

Solution: Option (2) Explanation: According to the passage, human beahviour is influential and guided by other’s choice, traits or habits. So, this makes option (2) the right choice among the given options.

 

  1. Which among the following is similar in meaning to the word ‘contagious’ as used in the passage?

 

  1. Evil
  2. Harmless
  3. Expensive
  4. Infectious
  5. Other than those given in above options

 

Solution: Option (4) Explanation: Among the given options, ‘Infectious’ is the right choice since the given word implies that the human behavior is contagious in nature. Their consumption and their habits are influenced by their natural surroundings.

 

  1. Which among the following is similar in meaning to the word ‘skyrocketing’ used in the passage?

 

  1. Escalating
  2. Descending
  3. Aspiring
  4. Ripping
  5. Other than those given in the options

 

Solution: Option (1) Explanation: Among the given options, ‘Escalating’ is the right choice since the given word implies that the behavioral change adopted by a home shopping channel led to its rising sales.

 

  1. Which among the following is opposite in meaning to the word ‘foolhardy’ as used in the passage?

 

  1. Thoughtful
  2. Risky
  3. Adventurous
  4. Foolish
  5. Other than those given in the options

 

Solution: Option (1) Explanation: Among the given options, ‘Thoughtful’ is the right choice.  Since the behavioral change adopted by a home shopping channel led to skyrocketing sales but it was rather an uncalculated move.

 

  1. Which among the following is opposite in meaning to the word ‘frownie’ as used in the passage?

 

  1. Pout
  2. Sulk
  3. Smirk
  4. Smile
  5. Other than those given in the options Solution:

 

Option (4) Explanation: Among the given options, ‘smile’ is the right choice. Frownie depicts an emotion for sadness or sulk. Hence, the opposite emotion is smiley (smile). According to the context, the above-average users were marked with a sad point with a hope that they can do better.

 

Passage 4

over the last ve days is an inevitable consequence of the decision to demonetise notes of Rs.500 and Rs.1,000.When 86 per cent of the value of notes in circulation turns suddenly invalid, as it did with Prime Minister Modi’s ‘surgical strike’ last week, a certain degree of disruption and pain is unavoidable. But the question is whether this chaos could have been anticipated and managed better than it has been. Replacement of the demonetised notes is a time-consuming exercise that requires planning of the highest order. The experience of the last few days shows that preparation was lacking and the transition could have been handled much better. ATMs are running out of cash quickly while banks are dispensing more of the Rs.2,000 notes than those of lower denominations. What use is a high-value note if there is not enough smaller currency to make an exchange? Of course, it was never an easy task for the Reserve Bank of India and the Centre to strike the right balance between secrecy and storing adequate quantity of notes for quick distribution. All the same, there are at least a couple of issues that could have been addressed differently. The new Rs.500 notes that hit the market on Monday could have been released immediately after the announcement last week. Putting out new Rs.500 notes along the Rs.2,000 notes would have placed much less strain on those of the Rs.100 denomination, which are anyway in short supply. Second, it appears that officials woke up a little late to the issue of recalibrating ATMs. At least a day, if not more, was lost as banks realised the ATMs would not be able to dispense the new notes. The communication with the public, who were in a state of panic, could have been better, too. Thankfully, the Centre has woken up to ease the pressure on the system by increasing withdrawal limits, allowing for petroleum outlets and hospitals to accept the old series of notes until November 24 and pushing more cash through post offices. The worst-affected are people in rural areas and villages where cash is king and the banking system’s penetration is poor. The decision to relax cash-holding limits for banking correspondents, the crucial link between banks and villages, to Rs.50,000 and allowing them to replenish multiple times a day should help in faster distribution. This ought to have been done much earlier. The cash crunch of the last few days is certain to have an adverse impact on consumption spending, especially in the rural areas, with the resultant effect on the economy in the third quarter.

 

  1. Which, according to the author, of the following is/are the true reasons behind Modi’s ‘surgical strike’ on black money?
  2. It is a push towards a cashless economy.
  3. To lower cash circulation in the country which is directly related to corruption in our country.
  4. To tackle black money in the economy.
  5. It is PM’s stint to win forthcoming elections.
  6. Other than those given in the options.

 

Solution: Option (3)

Explanation: According to the passage, the prime purpose of demonetisation process is to curb black money in any forms. It will definitely help in keeping a check on terror-related funding and terrorist activities. So, this makes option (2) the right choice among the given options.

 

  1. Why do you think that the replacement of the demonetised notes is a time-consuming exercise?

 

  1. It takes more than 50 days to replace demonetised notes.
  2. Demonetisation is a ‘futile exercise’ to target black money and fake currency.
  3. The government was lazy enough to issue the decision of demonetisation before.
  4. Replacement process requires planning of the highest order and careful implementation.
  5. Other than those given in the options.

 

Solution: Option (4) Explanation: According to the passage, the demonetisation process requires careful thought process, well-chalked out implementation strategies and above all planning of the highest order from the policy makers as well as government. So, this makes option (4) the right choice among the given options.

 

  1. How, according to the author of the passage, demonetisation could have been addressed differently?

 

  1. Announcing the government openly regarding its intention to introduce the new currency Rs 2,000 into the economy.
  2. Configuring ATMs to dispense new currency.
  3. Introducing lower denomination (Rs 500) note before or along with issuing a higher denomination (Rs 2000) for exchange.
  4. Increasing the number of mobiles, micro ATMs especially in rural areas.
  5. Other than those given in the options.

 

Solution: Option (3)

Explanation: According to the passage, the new Rs.500 notes that hit the market on Monday could have been released immediately after the announcement last week. Putting out new Rs.500 notes along the Rs.2,000 notes would have placed much less strain on those of the Rs.100 denomination, which are anyway in short supply. So, this makes option (3) an apt choice among the given options.

 

  1. Why do you think that after the Prime Minister Modi’s ‘surgical strike’ last week, a certain degree of disruption and pain was unavoidable?

 

  1. Because this surgical strike would reduce some part of black wealth to zero.
  2. Because of this surgical strike, the overall level of consumption has fallen down –even with the white money.
  3. Because of this surgical strike, ATMs queues were getting longer with each passing day.
  4. Both (2) and (3)
  5. All of the above

 

Solution: Option (4)

Explanation: According to the passage, after the announcement of currency ban, there were long queues outside ATMs across the country as people lined up to withdraw currency of smaller denominations. Banks were dispensing more of the Rs.2,000 notes than those of lower denominations. With the absence of lower denominations, people were forced to look for other options to carry on their day-to-day needs, which lowered the rate of consumption considerably. So, this makes option (4) an apt choice among the given options

 

  1. Which one of the following is an inevitable consequence of the decision to demonetize notes of Rs 500 and Rs 1,000?
  2. ATMs are running out of cash quickly while banks are dispensing more of the Rs.2,000 notes than those of lower denominations.
  3. The cash crunch of the last few days has an adverse impact on consumption spending.
  4. Banks realised the ATMs would not be able to dispense the new notes.
  5. The long, anxious, and frustrating wait by people outside banks and ATMs across the country over the last five days.

 

Solution: Option (4) Explanation: According to the passage, one of the major consequence of currency ban was an endless queue of women, senior citizens and adults outside ATMs. Following the announcement, there were long queues outside ATMs across the country as people lined up to withdraw currency of smaller denominations. So, this makes option (4) an apt choice among the given options.

 

  1. Which among of the following best explains why rural areas and villagers were worst affected?

 

  1. There don’t understand English.
  2. The banking system’s penetration is poor.
  3. The communication with the citizens residing in rural areas was not clear.
  4. ATMs lines were longer than expected.
  5. Other than those given in the options

Solution: Option (2)

 

Explanation: According to the passage, demonetisation hit the rural areas badly since cash is the king over there. The income level of the villagers is quite low and they are still facing language barrier issue. So, this makes option (2) the right choice among the given options.

 

  1. Which among the following is similar in meaning to the word ‘anxious’ as used in the passage?

 

  1. Edgy
  2. Afraid
  3. Fretting
  4. Worried
  5. Other than those given in above options

 

Solution: Option (4)

 

Explanation: Among the given options, ‘Worried’ is the right choice since the given word implies that the public was worried as well as frustrated by standing outside banks and ATMs (across the country)  due to the decision to demonetise notes of Rs.500 and Rs.1,000 by our prime minister.

 

  1. Which among the following is similar in meaning to the word ‘chaos’ as used in the passage?

 

  1. Uncertainty
  2. Disorder
  3. Jumble
  4. Indecision
  5. Other than those given in the options

 

Solution: Option (2)

Explanation: Among the given options, ‘Disorder’ is the right choice since the given word implies that due to the demonetization, citizens all over the country were facing issues with the currency exchange. It created an uproar among people to get the small denominations of the newly issued Rs 2,000/

 

  1. Which among the following is opposite in meaning to the word ‘ease’ as used in the passage?
  2. Pain
  3. Mess
  4. Hardship
  5. Hiccup
  6. Other than those given in the options

 

Solution: Option (3)

Explanation: Among the given options, ‘Hardship’ is the right choice.  When the government realized the pain of the public, they eased the pressure on the system by increasing withdrawal limits, allowing for petroleum outlets and hospitals to accept the old series of notes until November 24 and pushing more cash through post offices.

 

  1. Which among the following is opposite in meaning to the word ‘transition’as used in the passage?
  2. Development
  3. Shift
  4. Crunch
  5. Twist
  6. Other than those given in the options

 

Solution: Option (3)

Explanation: Among the given options, ‘shift’ is the right choice. Although the decision to demonetise was quite commendable but it had some serious implementation drawbacks. Due to the lack of preparing from Centre’s end, the shift or switch from old currency notes to new notes could have been better and less stressful for the public.

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