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Note from the Editor

The examination season is here and if you are looking forward to a government job, your timing
couldn’t be better. With a range of vacancies available at SBI, LIC, SSC, RBI to name a few, it’s high
time for you to put all your efforts and clear one or more exams. For this you need crystal-clear clarity
on (nearly) all the concepts of the different sections asked in the exam you’re applying for. Once you
have mastered the concepts, start solving as many questions apart from taking sectional & mock tests
in a controlled environment. Taking mock tests on a regular basis will help you track your performance
which will definitely be helpful in cracking the actual exam.

To help you with your preparation, we have come up with the April edition of Bazooka. This edition
incorporates:

-- Top 100 Current Affairs for the month of March 2019

-- Forex Swap- An Introduction

-- Important Organizations of the Insurance Sector

-- In-depth RC analysis of SBI PO Prelims 2016

and much more…

We hope you will enjoy going through this edition as much as we enjoyed preparing it!

Table of Contents
Sr. No. Topic
1. Top 100 Current Affairs of March
2. Top 50 Banking Affairs of March
3. SBI PO 2018 Success Story
4. RBI’s New Tool Forex Swaps
5. Important Insurance Sector Organisations
6. In-depth Analysis of SBI PO 2016 Prelims RC

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Top 100 Current Affairs of March

APPOINTMENTS

1. M. R. Kumar has been named as the chairman of the Life Insurance Corporation (LIC)
(Headquarter: Mumbai) for a period of 5 years.

2. Former Supreme Court Judge Justice Pinaki Chandra Ghose has been appointed as the country’s
first Lokpal or the anti-corruption ombudsman.

3. BJP MLA Pramod Sawant is the new (13th) Chief Minister of Goa succeeding Manohar Parrikar,
who died recently.

4. Soumya Swaminathan who is currently a Deputy Director-General of the World Health Organisation
(WHO) has been appointed as the Chief Scientist of the World Health Organisation (WHO)
(Headquarter: Geneva, Switzerland).

5. Ajit Kumar Mohanty has been appointed as Director of Bhabha Atomic Research Centre (located
in Mumbai, Maharashtra).

6. Bhagwan Lal Sahni (from Muzaffarpur, Bihar) has been appointed as the chairman of the National
Commission for Backward Classes (NCBC).

7. Ajay Narayan Jha joined the 15th Finance Commission as its Member in place of Shaktikanta
Das who had resigned as a Member of the Commission after being appointed as Governor of the RBI.

SCHEMES

8. Microsoft has launched project ‘Sangam’ to accelerate Swachh Bharat Mission (SBM) in India.

9. ISRO has initiated Young Scientist Programme named “YUva VIgyani KAryakram” – (Yuvika)
for school children with a purpose to enhance their interest in the emerging areas of Space activities.

10. Hardeep S Puri, Minister of Housing and Urban Affairs launched “e-Dharti” App to make all
the three modules – Conversion of property from leasehold to freehold, Substitution of names of legal
heirs and Mutation in the name of purchaser, etc. online.

11. Cabinet Committee on Economic Affairs has approved the “Pradhan Mantri JI-VAN (Jaiv Indhan-
Vatavaran Anukool fasal awashesh Nivaran) Yojana”, the scheme provides financial support to
Integrated Bioethanol Projects using renewable feedstock.

12. Mukhyamantri Anchal Amrit Yojana was launched by Uttarakhand Chief Minister Trivendra
Singh Rawat recently. The scheme aims to provide 100 ml milk twice a week, free of cost, to 2.5
lakh children of Uttarakhand.

13. “Mukhyamantri Parivar Samman Nidhi” scheme was launched by Haryana government
recently; the scheme is for farmers with areas upto five acres and the families with an income of less
than Rs. 15,000 per month.

• The scheme would provide a sum of Rs. 6,000 yearly. The scheme provides insurance
facilities of- Rs. 2 lakhs on natural death, Rs. 2 lakhs for accidental death, Rs. 2 lakhs for
permanent disability and Rs. 1 lakh for partial disability.

EVENTS

14. President Ram Nath Kovind inaugurated the Festival of Innovation and Entrepreneurship
(FINE) in Gandhinagar, Gujarat.

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15. Fourth session of United Nations Environment Assembly (UNEA) was held in Nairobi, Kenya.
The theme of the session was: “Innovative solutions for environmental challenges and sustainable
production and consumption”.

16. International Workshop on Disaster Resilient Infrastructure (IWDRI), to Identify good

practices of disaster risk management in key infrastructure sectors was recently organised by National
Disaster Management Authority (NDMA) in collaboration with World Bank at New Delhi.

17. The eighth edition of joint military exercise ‘Sampriti-2019’ between India and Bangladesh
was held recently in Tangail, Bangladesh.

18. 7th Regional Comprehensive Economic Partnership (RCEP) Intersessional Ministerial Meeting
was organized in Siem Reap, Cambodia (Currency: Phnom Penh, Currency: Riel)

19. PM Modi inaugurated two-day Expo-cum Conference on Construction Technology India 2019
(CTI-2019) in New Delhi. He also declared ‘April 2019–March 2020’ as Construction-Technology
year.

20. 3rd edition of bilateral joint exercise “Al Nagah” between the armies of India and Oman, was
held at Jabel Al Akhdar Mountains in Oman (Capital: Muscat, Currency: Rial).

21. 33rd edition of the India-Indonesia Coordinated Patrol (Ind-Indo Corpat) was held at Port
Blair, Andaman & Nicobar Islands.

RANKS

22. India ranks 76th on a global energy transition index compiled by Geneva-based World Economic
Forum (WEF). Sweden (Capital: Stockholm, Currency: Krone) topped the list.

23. Mercer’s annual Quality of Living Survey 2019 has ranked Austria’s capital city Vienna as the
most liveable city of the world. Hyderabad and Pune ranked together at 143 in the world are
the best city to live in India.

24. According to the Economist Intelligence Unit (EIU) survey Singapore, Paris and Hong Kong
are the world’s most expensive cities. Caracas in Venezuela topped the cheapest cities in the world
list.

• Bengaluru, Chennai and New Delhi were ranked at 5th, 7th and 8th position respectively
among the cheapest cities.

25. United Nations released World Happiness Report recently, in which India was ranked 140th out
of 156 nations. Finland (Capital: Helsinki, Currency: Euro) was ranked as the happiest country.

26. According to the latest report by the World Gold Council (WGC), India, the world’s largest
consumer of gold, has the 11th largest gold reserve, with the current holding secured at 607
tonnes.

• Largest gold reserves are in USA.

27. Gurugram in the National Capital Region (NCR) emerged as the most polluted region in the
world in 2018 as per 2018 World Air Quality Report. New Delhi has been ranked as the most polluted
capital city.

• In the country category Bangladesh has been ranked as the most polluted country.

28. India has the cheapest mobile data in the world as per the research by price comparison site
cable.co.uk. In India average price of 1GB data is 0.26 USD.

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29. Indore bagged award for cleanest city for third straight year in Swachh Survekshan 2019
Awards.

• New Delhi Municipal Council area gets cleanest small city award while Uttarakhand’s Gauchar was
adjudged Best Ganga Town in the survey.
• Bhopal won the cleanest capital/ UT city award.

30. India ranked first in the Consumer Confidence Survey which was conducted by global
performance management company Nielsen Holdings. It means that India has most optimistic
customers.

• South Korea (Capital: Seoul, Currency: Won) has most pessimistic customers in the world.

AWARDS

31. Japanese architect Arata Isozaki, who integrated the Eastern designs and Western countries’
designs in his creative designs has been honoured with Pritzker Architecture Prize 2019.

32. Odisha State Disaster Management Authority (OSDMA) was recently honoured with SKOCH
award for its remarkable achievements in the field of disaster management.

33. British Indian World War II spy, Noor Inayat Khan, confirmed as the first Indian-origin woman
to be honoured with a Blue Plaque at her former home, 4 Taviton Street in Bloomsbury, London.

34. Prime Minister’s Trophy for the ‘Best Integrated Steel Plant in India’ to Tata Steel for the
best overall performance amongst the integrated steel plants in the country

• The Steel Minister’s Trophy was conferred upon JSW Steel Limited – Vijayanagar Works.

35. Satheesh Reddy, (Chairman of DRDO) has been chosen by the American Institute of Aeronautics
and Astronautics (AIAA) as the co-winner of the 2019 Missile Systems Award. The other co-winner
is Rondell J.

36. DD Mahila Kisan Award for 2018-19 was recently given to Swati Shingade of Pune.

37. Biju Patnaik International Airport (BPIA) in Bhubaneswar won the Airport Service Quality
(ASQ) award for being the best airport in size and region (2-5 million passengers in Asia-Pacific)
for the year 2018.

38. Former RBI Governor Raghuram Rajan, for his contribution towards economic development, was
awarded the ‘Yashwantrao Chavan National Award 2018’.

39. Indian journalist, ‘Raghu Karnad’ received the prestigious Windham Campbell prize for his
debut book, ‘Farthest Field: An Indian story of Second World War’.

40. Hindi writer Leeladhar Jagudi honoured with Vyas Samman 2018 (given by K K Birla
Foundation) for his collection of poems “Jitne Log Utne Prem”.

41. American professor and Mathematician Karen Uhlenbeck became the first woman to be
conferred with Abel Prize also known as Nobel prize of mathematics. She was recognized for her
work in the field of gauge theory and geometric analysis

42. 64th Filmfare Awards Highlights:

• Best Film: Raazi

• Best Actor in a Leading Role: Ranbir Kapoor (Sanju)
• Best Actor in a Leading Role (Female): Alia Bhatt (Raazi)
• Best Director: Meghna Gulzar (Raazi).

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43. Renowned economist Amartya Sen has been honoured with the prestigious Bodley Medal,
highest honour bestowed by the University of Oxford’s world-famous Bodleian Libraries.

44. Delhi government school teacher, Manu Gulati has been honoured with the Martha Farrell
award for Excellence in Women’s Empowerment 2019.

45. Peter Tabichi, a Kenyan math and physics teacher has been conferred with the prestigious
Varkey Foundation Global Teacher Prize for 2019.

46. Dr. Rajendra Kumar Joshi, has been conferred with the prestigious Pravasi Bharatiya
Samman Award. He was awarded by the Embassy of India in Switzerland.

47. President Ram Nath Kovind has been honoured with Croatia’s (Capital: Zagreb, Currency:
Kuna) highest civilian award the Grand Order of the King of Tomislav.

STATES

48. Rice Knowledge Bank-Assam, which is an agriculture web portal dedicated to magnify knowledge
on rice production technologies and techniques, was launched under World Bank funded project –
Agri-business and Rural Transformation (APART).

49. As per 2018 global Multidimensional Poverty Index (MPI), India’s poverty rate has shown a
drastic decrease between 2005-06 and 2015-16 in 10 from 55% to 28%. In the said period 271
million people are moved out of poverty in India.

• More than half of the India’s multidimensional poor are from the four states Bihar,
Jharkhand, Uttar Pradesh and Madhya Pradesh while Delhi, Kerala and Goa have lowest
multidimensional poverty.

50. Tashigang at an altitude of 15,256 feet has now became the world’s highest polling station
in the Buddhist-dominated Lahaul-Spiti district of Himachal Pradesh.

51. A MoU was signed between Ola and Telangana government to support the government’s
initiative to implement smart solutions and further strengthening traffic infrastructure in Hyderabad.

52. As per the report ‘OpenSignal’s hottest city for 4G Availability’, Dhanbad, scored 95.3 percent
and became the number one city in terms of highest 4G availability in India.

53. According to Election Commission, West Bengal has the maximum number of first-time voters,
around 20.1 lakh, in the upcoming Lok Sabha. The number of people eligible to vote has reportedly
increased by 8.4 crores as compared to 2014 General Elections.

54. Marayoor jaggery from Idukki, Kerala gets Geographical Indication (GI) tag from the central
government. This jaggery is made from sugarcane and no chemicals are added during the manufacturing
process.

• Geographical Indication (GI) tag was also granted by the Geographical Indication Registry to
Erode turmeric.
• ‘Sirsi Supari’ cultivated in Yellapura, Siddapura and Sirsi talukas of Karnataka, has received
the Geographic Indication (GI) tag recently.

55. Sundarban Rain forests (Mangrove) in the West Bengal was accorded with the status of
‘Wetland of International Importance’ in the Ramsar Convention.
NATIONAL

56. Bureau of Energy Efficiency (BEE) has released a document called UNNATEE (Unlocking
NaTional Energy Efficiency potential) which aims at improving the energy efficiency in India.

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57. IRDAI and National Health Authority (NHA) have formed a 11- member joint working group
(JWG) headed by Dinesh Arora, Deputy CEO of NHA to suggest ways for more effective
implementation of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY).

58. “The Fate of Butterflies “, a novel by Nayantara Sahgal was released recently in New Delhi.

Union Railway Minister Piyush Goyal announced a new railway zone (18th in the country) in Andhra
Pradesh, it would be called Southern Coast Railway and it will be headquartered in
Visakhapatnam.

Bengaluru based semiconductor company “SIGNALCHIP” unveiled India’s first Indigenous

Semiconductor Chips for 4G/LTE and 5G NR MODEMs at an event in New Delhi.

“The Fate of Butterflies “, a novel by Nayantara Sahgal was released recently in New Delhi.

59. India has launched its third IT corridor in China, the corridor is in Xuzhou city. It will facilitate
partnerships between Indian and Chinese companies. The earlier two corridors are located at Dalian
and Guiyang cities.

60. PM Modi recently inaugurated the new Pandit Deendayal Upadhyaya Institute of
Archaeology at Greater Noida in Uttar Pradesh.

61. Low cost carrier SpiceJet become a member of global airlines’ grouping International Air Transport
Association (IATA). It thus became the first Indian budget (low cost) carrier to join the IATA
(Headquarter: Montreal, Canada).

62. Supreme Court constituted a three-member mediation panel headed by former Supreme Court
(SC) judge Justice F. M. Kalifullah for the settlement of Ayodhya’s Ram Janmabhoomi-Babri
Masjid land dispute case. The other members of the panel include Sri Sri Ravi Shankar and Sriram
Panchu.

63. Transgender activist Shree Gauri Sawant from Mumbai has been appointed as first
transgender election ambassador by The Election Commission of India.

64. Indian Railways’ Integral Coach Factory (ICF), Chennai has surpassed Chinese manufacturers and
thus became the single largest rail coach manufacturer in the world.

65. Indian Coast Guard Ship ‘Vijit’ became the first-ever Coast Guard ship to visit Sabang,
Indonesia.

66. “Operation Sunrise” is a recent joint operation carried out by Indian and Myanmar armies to
wipe out the insurgent camps planning to hit the Indian workers at the Kaladan Transit project.

67. ‘Every Vote Counts’ book written by former Chief Election Commissioner of India Navin
Chawla’s was recently launched by Vice President of India, Hamid Ansari.

68. Facebook launched two new tools called “Candidate Connect” and “Share You Voted”,
specifically for Indian users to encourage civic engagement on its platform during the general
elections 2019.

69. The Indian English word ‘chuddies’ (underpants or means short trousers or shorts) has been
recognized as official English word by the Oxford English Dictionary (OED).

70. India’s Nuclear, Biological, Chemical Training Facility (NBCTF) named ABHEDYA of Indian Navy
has been commissioned at INS Shivaji recently.

71. An application named ‘Shiksha Vani’ was launched by CBSE to publicize crucial information to
students and parents in a timely manner.

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72. Authored by former RBI Governor Dr. Y.V. Reddy a book “Indian Fiscal Federalism” was
launched recently.

73. DRDO recently conducted a successful Anti-Satellite (ASAT) missile test “Mission Shakti”. The
test made India the fourth country in the world after the US, Russia and China to acquire the
strategic capability to shoot down enemy satellites.

INTERNATIONAL

74. Oslo (capital city of Norway) will become the world’s first city to install wireless, induction-
based charging stations for its fleet of electric taxis with an aim to have a zero-emission cab system
by the year 2023.

72. Indian-origin Jagmeet Singh made history in the House of Commons (a component of Canada’s
Parliament), as the first non-white leader of a major opposition party in Canada.

73. World’s largest e-waste recycling plant has opened in Dubai Industrial Park, Dubai by
‘Enviroserve’ company.

74. Joint training exercise MITRASHAKTI – VI between Indian and Sri Lanka Army was recently
held at Diyatalawa in Sri Lanka.

75. Tesla has developed its ‘largest power storage system in Asia’ at Osaka train station in Japan
to reduce energy demand and provide emergency backup power to trains in Japan.

76. Africa-India Joint Field Training Exercise (AFINDEX-19) between Indian Army and 16 African
nations was held in Pune, Maharashtra.

77. United Nations Development Programme (UNDP) appointed Padma Lakshmi as its goodwill
ambassador.

78. Shanghai Cooperation Organisations (SCOs) Regional Anti-Terrorist Structure (RATS) Council
was recently held in Tashkent, Uzbekistan. A joint exercise ‘Sary – Arka – Antiterror 2019’ will also
be conducted.

79. Recently cyclone “Idai” hit the city of Beira in Mozambique (Capital: Maputo, Currency: Metical).

80. Krishna Kumari Kohli has been appointed as the first female senator of Pakistan from the
Hindu Dalit community.

81. Kazakhstan has renamed its capital as Nursultan from its previous name Astana to recognize
its outgoing President Nursultan Nazarbayev.

82. India has collaborated with Bhutan, Nepal, Indonesia and Malaysia to increase the population
of three Asian rhino species – Greater one-horned rhinoceros, Javan rhino and Sumatran rhino, by
signing the New Delhi Declaration on Asian Rhinos 2019, at the recently held Second Asian Rhino Range
Countries meet, at New Delhi.

83. Kylie Jenner was declared by Forbes magazine as the youngest ever self-made billionaire.

84. Google India has unveiled an app – “Bolo” which focuses on improving the reading and
comprehension skills of students, especially the ones in rural areas.

SPORTS

85. International Shooting Sports Federation (ISSF)’s inaugural World Cup was held in New Delhi,
India. India ranked 1st in the World Cup along with Hungary.

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Saurabh Chaudhary and Apurvi Chandela finished top of the 10m Air Pistol event in the men’s and
women’s category respectively.

86. Alastair Cook (former captain of England cricket team) was officially awarded the knighthood
for his services to cricket.

87. Anil Kumble, was re-appointed ICC (International Cricket Council) Cricket Committee
Chairman.

88. Kento Momota of Japan won the men’s title in the 2019 All England Open Badminton
Championships. Chinese Player, Chen Yufei won the title in the women’s category.

89. India won South Asian Football Federation (SAFF) Women’s Championship 2019 for the fifth
time in a row by defeating Nepal in Biratnagar, Nepal.

90. South Korea (Capital: Seoul, Currency: Won) defeated India to lift the Sultan Azlan Shah Cup
2019 held at Azlan Shah Stadium in Ipoh, Malaysia.

91. Suresh Raina (Chennai Super Kings) became the first batsman to surpass 5,000 runs in the
Indian Premier League (IPL).

92. Cristiano Ronaldo has been ranked as the best athlete in the 2019’s ESPN World Fame 100
list. Indian cricket team captain Virat Kohli has been ranked at the seventh spot and MS Dhoni at
13.

93. Afghanistan (Capital: Kabul, Currency: Afghani) defeated Ireland by 7 wickets to win their first
ever Test Match in Dehradun, Uttarakhand.

93. Mercedes Formula One driver Valtteri Bottas (from Finland) has clinched his first championship
in the Australian Grand Prix held in Melbourne.

94. China’s, Liu Hong, broke the world record (women) in the 50 km race walk, finishing in 3
hours, 59 minutes and 15 seconds, at the Chinese Race Walk Grand Prix in Huangshan, to become the
first woman to break the 4-hour barrier in the event.

95. 15th Special Olympics World Summer Games 2019 for athletes with Intellectual disabilities were
recently held in Abu Dhabi, United Arab Emirates.

The motto of the games was “Meet the Determined”. The next Special Olympic Games are set to
take place in Sweden in 2021.

India wins 368 medals at the Special Olympics World Summer Games including 85 gold, 154 silver
and 129 bronze.

96. Karnataka cricket team defeated Maharashtra to win Syed Mushtaq Ali Trophy at the Holkar
Stadium in Indore.

OBITUARIES

98. Renowned South Asian singer, Shahnaz Rahmatullah popularly known as Shahnaz Begum,
passed away in Dhaka, Bangladesh.

99. Goa Chief Minister and former Defence Minister Manohar Parrikar passed away at the age of
63 years.

100. Senior journalist and environmental activist Darryl D’Monte passed away in Mumbai
recently.

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Top 50 Banking and Business Affairs of March

1. Punjab National Bank has been ranked first among public sector banks in the implementation
of 'reforms agenda', as per the BCG-IBA’s “EASE Reforms for Public Sector Banks” report.

2. Union government would infuse Rs. 5,042 crore rupees into the merged troika of state-owned
Bank of Baroda, Dena Bank and Vijaya Bank.

• The merger came into effect on April 01, 2019.

3. Moody’s quarterly Global Macro Outlook which was released recently, Indian economy is
expected to grow at 7.3 per cent in 2019 and 2020.

4. Adani Port and Special Economic Zone (APSEZ), has become the first Indian port operator
to achieve a new record of handling 200 million tonnes (MT) cargo movement in 2018-19.

5. Leading London-based NRI industrial tycoons, the Hinduja family has topped the Asian Rich List
2019 for the sixth successive year with £25.2 billion (over Rs. 2.3 lakh crore) wealth.

6. India registered the highest growth of 27% among countries in patent applications with the
World Intellectual Property Organization (WIPO) (Headquarter: Geneva, Switzerland) in 2018. In 2018
India filed 2013 international patent applications.

7. For improving drainage infrastructure in Dibrugarh town of Assam, Asian Development Bank
(ADB) and Government of India signed a loan agreement of USD 26-million.

8. Asian Development Bank (ADB) signed a loan agreement of USD 50 million with India’s
renewable energy producer company Avaada Energy Private Limited (AEPL).

9. USD 455 million agreement was signed between the Asian Infrastructure Investment Bank
(AIIB) and the Government of India for financing the Andhra Pradesh Rural Roads Project.

10. Xiaomi (Headquarter: Beijing, China) has recently launched Mi Pay, a UPI based mobile
payment service in India to send money from one bank account to another or between UPI (Unified
Payments Interface) accounts.

11. Rakesh Makhija was appointed as the non-executive chairman of Axis Bank.

12. SBI signed a pact with Bank of China (BoC) to boost business opportunities. It will enhance
the business cooperation between both the banks.

13. National Health Authority (NHA), body implementating Ayushman Bharat – Pradhan Mantri Jan
Arogya Yojana (AB-PMJAY) has signed a MoU with Uber– a ride-hailing app to provide free
healthcare services to Uber drivers.

14. Hasmukh Adhia, was appointed as non-executive chairman of Bank of Baroda.

15. RBI approved the merger of DBS Bank Ltd.’s Indian business unit with DBS Bank India with
effect from 1st March 2019.

16. ASSOCHAM (The Associated Chambers of Commerce and Industry of India), has conferred ‘Non-
Life Insurer of the Year Award 2019′ to Bharti AXA General Insurance.

17. A loan agreement worth $25.2 million was signed between the Central government,
Chhattisgarh state government and the World Bank.

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18. The Insolvency and Bankruptcy Board of India (IBBI) signed an agreement with the
International Finance Corporation (IFC) in cooperation to provide a technical assistance to IBBI
until 30th June, 2021.

19. United Bank of India recently signed a bancassurance deal with HDFC Life.

20. State Bank of India (SBI) became the first bank to link its interest rate on savings account
with balance above Rs. 1 lakh and short-term loans to the repo rate of the Reserve Bank of India. This
shall be effective from 1st May 2019.

21. Loan agreement worth $137 million was signed between the World Bank, Union
government & representatives of 5 states for the Additional Financing of the Dam Rehabilitation
and Improvement Project (DRIP).

22. RBI has categorized IDBI Bank as a Private Sector Bank with effect from January 21, 2019
after Life Insurance Corporation of India (LIC) acquired 51 per cent of the total paid-up equity share
capital of the bank.

23. Confederation of Indian Industry (CII) released a ‘Suggested Election Manifesto’ for political
parties to achieve an average growth rate of 8% per annum in the next 5 years.

24. Bank of Baroda has become one of the first public sector banks to launch a crèche/child day-
care facility for children of its employees. The day-care facility has been launched at its Mumbai
corporate office.

25. Aviva Life Insurance announced the launch of ‘Wings’, a specially designed mentorship program
to empower the female workforce.

26. HDFC Bank became the third Indian company after Reliance Industries (Rs. 8.52 trillion) and
TCS (Rs. 7.49 trillion) to achieve a market value of Rs. 6 trillion.

27. WhatsApp has partnered with NASSCOM Foundation, to tackle the challenge of
misinformation.

28. The Insolvency and Bankruptcy Board of India (IBBI) signed a MoU with the Securities and
Exchange Board of India (SEBI) for effective implementation of the Insolvency and Bankruptcy
Code, 2016 (Code).

29. Artificial Intelligence and block chain-based software products firm Intain Fintech will launch
e-Mulya. The software will facilitate secure, efficient and trustworthy asset securitization transactions
for Non-Banking Financial Companies (NBFCs) in India.

30. SBI has launched a new service called ‘YONO Cash’ for its customers using which customers
can withdraw money from ATMs without using debit cards. YONO stands for You Only Need One.

31. The Tech Giant Apple has partnered with Goldman Sachs and Mastercard to launch a new
credit card called Apple Card.

32. RBI has prohibited HDFC from owning more than 9.9% share in the Bandhan Bank
(Headquarter: Kolkata). It is the maximum a non-banking finance company can own in a private bank.

34. Karur Vysya Bank appointed N S Srinath as Non-Executive Independent Chairman for a
period of three years.

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35. Power Finance Corporation (PFC) has acquired majority stake (52.63%) in REC Ltd
(formerly Rural Electrification Corporation Limited) by paying Rs. 14,500 crores.

• PFC thus became India’s second largest govt-owned Financial Firm after State Bank of
India (SBI), based on market capitalization.

36. ICICI Lombard and digital financial services company MobiKwik entered into a partnership to
provide cyber insurance cover of Rs. 50000.

37. Fitch rating in its Global Economic Outlook, has decreased the India’s economic growth
forecast to 6.8% from 7% earlier for FY20. Also, for FY19 it has given the estimate of 7.2%.

38. Exim Bank (Headquarter: Mumbai) signed a loan agreement of USD 83.11 million with Congo
for financing three solar power projects.

39. NSEIT a subsidiary of National Stock Exchange of India has acquired global cyber security
company “Aujas” Networks.

40. RBI has set the average base rate to be charged by Non- Banking Financial Companies
(NBFC) and Micro Finance institutions (MFI) at 9.21% for the first quarter (April to June).

41. India’s first digital insurer, AU Small Finance Bank Ltd. (Headquarter: Jaipur, Rajasthan)
announced its partnership with Acko General Insurance Limited to provide customized insurance
products to its customers.

42. Karur Vysya Bank (Headquarter: Karur, Tamil Nadu) recently has raised Rs 487 crore through
Basel-III compliant bonds for funding its growth plans.

43. Bank of Baroda has signed MoU with six firms to develop “Baroda Kisan”- a platform to
provide solutions for all major agricultural requirements through bank’s holistic approach.

44. Union Labour Ministry has doubled the income tax exemption to Rs.20 lakh from the existing
Rs.10 lakh for gratuity.

45. World Bank signed MoU with the Government of India to provide $250 million support to
the National Rural Economic Transformation Project (NRETP).

46. SBI and Hitachi Payment Services Pvt Ltd, (wholly-owned subsidiary of Hitachi Ltd), launched
their merchant-acquiring joint venture, SBI Payment Services Pvt Ltd (SBIPSPL), for establishing
a digital payments platform for India and other countries in the region.

47. Government has given a nod to the IDBI Bank to handle import and export transactions with
Iran (Capital: Tehran, Currency: Rial). The move is aim towards boosting the trade between India and
Iran amidst US sanctions on Iran.

48. IDBI Bank and Life Insurance Corporation of India (LIC) signed a bancassurance agreement
under which the lender will offer LIC’s insurance products at its branches.

49. RBI has constituted an 8-member task force which will be headed by its former deputy governor,
Usha Thorat to examine issues related to offshore rupee markets and recommend policy
measures.

50. Indian Bank (Headquarter: Chennai, Tamil Nadu) has been awarded the Best Bank Award by
the Tamil Nadu government for successfully meeting the needs of women’s self-help groups
(SHGs).

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Success story of Suraj who cleared SBI PO 2018

INTRODUCTION
Hi All, this is Suraj alias Surya Prabhakar Revankar. I cleared SBI PO 2018 and SBI Junior Associate in the
first attempt itself. I completed my engineering in 2017 and got placed in an IT company but I always had a
desire to work for the government sector.

PREVIOUS EXPERIENCE WITH BANKING EXAMS

Cleared many exams viz. IBPS PO, RRB PO, OICL AO, ECGC PO, IBPS Clerk, and RBI Assistant but was unable
to make it to the final selection, but lately got selected as a Bank of India Clerk and an SBI PO.

PREPARATION STRATEGY

I started preparing for IBPS and other bank exams in July 2017. I didn’t refer to any book at any point in time
and prepared everything from the resources available on the internet. Apps, YouTube videos, specifically test
series are what I used intensively for my preparation. I started with the Cracku test series and used many
other test series like Testbook, Adda, grade up, Oliveboard until the month of Dec 2017. The result was that
I cleared many exams viz. IBPS PO, RRB PO, OICL AO, ECGC PO, IBPS Clerk, and RBI Assistant but was
unable to make it to the final selection as because my General Awareness and Quants section were not that
strong.

HOW DID PRACTICEMOCK HELP YOU?

In 2018 I started working as a clerk in Bank of India and was studying for SBI PO along with my full-time job.
I used to get only 2-3 hours for study after office hours to optimize which I purchased two test series for SBI
PO 2018 namely: Oliveboard and PracticeMock. I had some idea about Oliveboard as I used it for many
exams but PracticeMock was something new to me. But once I started taking tests on PM, my preparation &
readiness went to the next level. The level of questions in Quant and Reasoning are tougher and of good
quality as compared to any other test series in the market. Also, I used sectional tests of PM for the final
revision. All these tests, apps and my efforts helped me achieve my goal.

ANY WORDS OF WISDOM FOR THE READERS

For all your days prepare and meet them ever alike; when you are the anvil, bear – when you are the hammer,
strike.

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RBI’s New Tool “Forex (US Dollar) Swap”- Explained in

Simpler Terms
What is the news?

India’s central bank the Reserve Bank of India (RBI) will conduct its second dollar-swap auction in a
month (on April 23) to inject $5 billion (about Rs 34,500 crores) of liquidity into the banking
system. The first such auction was held last month on March 26.

What is this US dollar-swap?

To manage the country’s cash needs RBI has uses few tools through which it injects liquidity into the
economy. We all are aware of these tools like Repo Rate adjustment and Open Market Operations
(OMO).

USD/INR Buy/Sell Swap is nothing but another tool employed by RBI to increase the currency supply in
the market. So, what will happen that like OMOs in which Banks give Govt. securities to the RBI and in
return RBI gives them rupee, in “USD/ INR Swap” banks will give RBI US dollars and in return
will get INR.

Buy/Sell Govt. Bonds

RBI Banks

Open Market Operations

Buy/Sell US Dollars
RBI Banks

Dollar-Rupee (USD/INR) swap

So, how exactly this Swap mechanism works?

Banks would sell dollars to the RBI at a dollar-rupee exchange rate fixed by the central bank.
Simultaneously, the banks will agree that they will buy-back same amount of dollars from the
RBI after three years (it is the the tenor of this auction, unlike Repo rate this swap is a long-term
infusion tool).

Banks will have to place bids in which they have to quote a forward premium, this premium is
simply the extra amount banks will have to pay during buy back of the dollars.

Example: Let’s take exchange rate at Rs. 70/dollar, now assume SBI quotes a premium of 100 paisa
and bids for $10 million. So, the bank will get Rs. 70 crores. Now after three years, bank will pay Rs. 71
crores ($ 10 million*71 (one rupee extra is the premium) to the RBI.

Why was this required?

Since IL&FS crisis there is a persistent liquidity crunch in the market. Sudden liquidity demands due to
increased outflows towards tax payments (GST) and year-end payment requirements of businesses have
only aggravated the situation.

So, why did RBI not meet the liquidity requirement through its usual tool “OMOs”?

Under OMOs banks need to deposit Government securities with the RBI. But currently banks are facing
the shortage of securities, also banks require G-secs for Repo operations and for collaterals
(under SLR and CRR).

Moreover, RBI has already purchased some 74-75% of G-secs in the market.

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IMPORTANT INSURANCE SECTOR ORGANISATIONS

As on December 2018, the insurance industry of India consists of 57 insurance companies of which 24
are in life insurance business and 33 are non-life insurers. Among the life insurers, Life Insurance
Corporation (LIC) is the sole public sector company. Apart from that, among the non-life insurers there
are six public sector insurers. In addition to these, there is sole national re-insurer, namely, General
Insurance Corporation of India (GIC Re).

Organisation Established Headquarters Chairman

Insurance Sector Regulator
Insurance Regulatory and 1999 Hyderabad Subhash Chandra
Development Authority Khuntia
(IRDAI)
Public Sector -Life Insurers
Life Insurance Corporation 1956 Mumbai MR Kumar
(LIC)
Public Sector – Non-Life Insurers
National Insurance 1906 Kolkata Tajinder Mukherjee
Company Limited (NICL)
Oriental Insurance 1947 New Delhi AV Girija Kumar
Company Ltd. (OICL)
New India Assurance Co. 1919 Mumbai Atul Sahai
Ltd (NIACL)
United India Insurance Co. 1938 Chennai Girish
Ltd (UIICL) Radhakrishnan
Agriculture Insurance 2002 New Delhi Alamelu T.
Company of India Lakshmanachari
Limited (AIC)
ECGC Limited 1957 Mumbai Geetha Muralidhar
Re - insurer
General Insurance 1972 Mumbai Alice Vaidyan
Corporation of India

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In-depth RC analysis of SBI PO Prelims 2016

Source: The Economist (March 8th 2001) Link: https://www.economist.com/unknown/2001/03/08/the-

female-poverty-trap

Title: The Female Poverty Trap

Most of the declarations of the Fourth World Conference on Women in Beijing in 1995 have faded from
memory. But the linkage made between women’s rights and poverty and the assumption that
discrimination actually impedes (restricts) progress-has survived. Since then the promotion of equal
rights has become a central economic priority for international aid agencies, the World Bank has declared
the enfranchisement (liberation) of women the single most important issue for effective
development. A sweeping (extreme) statement, perhaps, but since 1995 the bank has lent billions of
dollars on programmes that encourage girls’ education, better maternal health and on micro-credit
initiatives (efforts) that funnel (provide) money directly into the hands of women. This is a
substantial (significant) sum dedicated (intended for) to women. If not, most developing countries,
women produce more food than men and bear primary responsibility for feeding, sheltering and
educating the young. But lack of education coupled with (along with) social customs which treat
women as second-class citizens restrict their participation in the economy. The figures are startling
(surprising)

Explanation First paragraph: The first paragraph of a passage generally introduces the topic on which
the passage revolves. Here, the first para introduces the topic - the restriction of women leading to lower
participation in the economy, and the factors that contribute to this. The para also throws light on the
initiatives that have been undertaken to combat this by prominent global institutions such as the World
Bank. The para ends on the note that the figures that show women’s participation in the economy are
different from those expected.

Globally, those women who do work are concentrated (majorly) at the bottom end of the labour
market and receive far less pay. A significant proportion (part) of the world’s illiterate are women and
women account for (make up) half of all refugees. Anything that helps women catch up with men
should be welcomed on grounds of (because of) equity (equality) alone. But fairer treatment of
women is also one of the most effective ways to improve an economy’s efficiency as well. It is widely
recognised educating more women in developing countries and specifically making education available
to men and women equally is likely to raise the productive potential (capacity) of an economy
significantly. As education levels rise, so do household incomes.

Explanation Second paragraph: Following the first paragraph, the second paragraph in a passage
generally expands on the ideas introduced in the first and gives data or details supporting the claims.
Where the first paragraph throws light on the problems, the second offers suitable courses of action that
can be taken to solve those problems. Beginning with the need to do so, the para explains how improving
the access of education available to women can make a long-term contribution to the economy.

In Sub-Saharan Africa, for instance, 70% of young children whose mothers have secondary education
receive their vaccinations, as opposed to (contrasting with) just 30% of those whose mothers have
no formal schooling at all. A cross-country (involving more than one country) analysis concluded
that gains in women’s education made the single largest contribution to decline (fall) in malnutrition in
13 countries between 1970 and 1995. Some researchers reckon (believe) that, if female farmers in
places like Cameron or Kenya were afforded (given) the same schooling and other opportunities as
male farmers, crop yields would rise quite heftily (greatly). One economic analysis estimates
(concludes) that, if countries in South Asia, Africa and the Middle East had closed the gender gap in
schooling at the same rate as East Asia after 1960, income per head could have grown substantially over
the actual growth rates achieved.

Explanation Third paragraph: The third para focuses on providing data that substantiates the claims
made in the previous paragraph. Using examples as well as studies to do so, the para emphasizes the
importance of women’s education touched upon in the previous para. Drawing parallels between Africa
and the Middle East, the para argues for the case that education for women can contribute to higher

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income, better health outcomes and agricultural productivity, few of the factors key in economic
development.

But one country’s gender bias is another’s ancient tradition, entrenched (formed a basis) in laws and
institutions. Some South American countries, like Bolivia and Guatemala restrict (limit) wives
employment outside the home in South African nations like Botswana, women have no independent right
to manage their own land but now the girls are offered stipends (compensation) for secondary
education- a long-standing (having existed or continued for a long time) programme now
bolstered (made stronger) by multilateral aid. Elsewhere in Africa in Ghana, peripatetic (travelling
from place to place) bankers act as lenders and financial advisors, often helping women as particular
to set up small businesses. Part of the rationale (a logical basis) for microfinance that caters to
women is that some studies have shown that women tend (are likely to) to spend money more
prudently (wisely) on vital goods and services that benefit families, men often squander (waste) it.
This finding may seem implausible to many men. Not many women would be surprised.

Explanation Fourth paragraph: The last paragraph of a passage generally concludes the ideas
explored and conveys a final message to the reader. Here, the final para illustrates the clash between
gender bias and tradition by means of examples of various African countries. It discusses the measures
taken by the governments of these countries and how it has changed the lives of women for the better.
The passage ends on the note that women can do much more to contribute to the welfare of their family,
and by extension, the country.

Question-1

Level-Moderate

Which of the following is an appropriate title for the passage?

a) Enabling Asia- The Long Road Ahead

b) Catching Up with Africa

c) Raising Children in the 21st Century

d) Poverty-A Matter of Geography?

e) Gender Fairness Equals Economic Development

Ans: E

Solution: E is the right answer. The passage talks about how providing equal opportunities in education
and work would lead to economic development. The passage gives the example of South Asia and Middle
East to highlight how the income levels of the country would have been much better if there was no
difference between the opportunities provided to men and women.

Refer to the lines: It is widely recognized educating more women in developing countries and specifically
making education available to men and women equally is likely to raise the productive potential of an
economy significantly. As education levels rise, so do household incomes.

One economic analysis estimates that, if countries in South Asia, Africa and the Middle East had closed
the gender gap in schooling at the same rate as East Asia after 1960. Income per head could have grown
substantially over the actual growth rates achieved.

A is incorrect. The passage focuses on Africa as well and not just Asia.

B is incorrect. The passage does not focus solely on Africa, it talks about women and lack of opportunities
available to them.

C is incorrect. The passage focuses on women and not children.

D is incorrect. The passage talks about how economic development has been limited because of lack of
opportunities available to women.

Question-2

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Level-Easy

Which of the following is/ are (a) hindrance(s) in the economic development of the countries mentioned
in the passage?

1. Time-honoured traditions in these countries

2. Women’s limited access to education

3. Population explosion in the 1960s

a) Only 1

b) Only 2

c) All 1, 2 and 3

d) Both 1 and 3

e) Both 1 and 2

Ans: E

Solution: E is the right answer. Both 1 and 2 are correct.

1 is correct. Refer to the lines: But one country’s gender bias is another’s ancient tradition, entrenched
in laws and institutions. Some South American Countries, like Bolivia and Guatemala restrict wives
employment outside the home in South African nations like Botswana, women have no independent right
to manage their own land but now the girls are offered stipends for secondary education- a long standing
programme now holstered by multilateral aid. Thus, traditions in these countries proved to be a hindrance
in economic development.

2 is correct. Refer to the lines: It is widely recognised educating more women in developing countries
and specifically making education available to men and women equally is likely to raise the productive
potential of an economy significantly. As education levels rise, so do household incomes. Thus, lack of
access to education has held women back.

3 is incorrect. The passage does not talk about population explosion in the 1960s.

Question-3

Level-Moderate

What do the statistics in the passage indicate?

a) The female infanticide rate in African countries has dropped significantly.

b) Maternal health and life expectancy of women has improved since 1995.

c) Education of mothers has improved health and immunisation in Sub-Saharan Africa.

d) Much of the World Bank aid for health has been utilised effectively.

e) Economic development in Africa is on the rise.

Ans: C

Solution: C is the right answer. Refer to the lines: In Sub-Saharan Africa, for instance, 70% of young
children whose mothers have secondary education receive their vaccinations, as opposed to just 30% of
those whose mothers have no formal schooling at all. A cross-country analysis concluded that gains in
women’s education made the single largest contribution to declines in malnutrition in 13 countries
between 1970 and 1995. Thus, the statistics shows that education of mothers led to the improvement
in health and immunisation in Sub-Saharan Africa.

A is incorrect. The passage does not talk about female infanticide in African countries.

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B is incorrect. The passage does not state that maternal health and life expectancy of women has
improved.

D is incorrect. The passage merely states that the majority of the aid has been spent on women related
initiatives but it does not provide statistics.

E is incorrect. The passage states that the prospects of economic development in Africa would become
better if women get more opportunities.

Question-4

Level-Moderate

Which of the following best describes the author’s opinion regarding international aid efforts?

a) These have been ineffective on account of rampant corruption in aided countries.

b) Aid will soon dry up as donors are facing economic troubles of their own.

c) Aid should be withdrawn from countries which do not promote equal opportunities.

d) The goals are unrealistic as many of aided countries are facing political conflicts.

e) These are generous but effectiveness is hampered by prevailing local factors.

Ans: E

Solution: E is the right answer. Refer to the lines: …..since 1995 the bank has lent billions of dollars on
programmes that encourage, girls’ education, better maternal health and on micro-credit initiatives that
funnel money directly into the hands of women. This is a substantial sum dedicated to women.

But lack of education coupled with social customs which treat women as second-class citizens restrict
their participation in the economy.

In the first paragraph the author discusses how a significant amount of money has been lent by the
World bank but he also states that lack of education and social customs have limited the effectiveness
of the money.

A is incorrect. The passage does not talk about corruption in the countries that received aid.

B is incorrect. The passage does not talk about the donors of their economic trouble.

C is incorrect. The author does not advocate the withdrawal of aid from any country.

D is incorrect. The passage has not discussed political conflicts.

Question-5

Level-Moderate

Choose the word/group of words which is most nearly the same in meaning as the word FADED given
in bold as used in the passage.

a) Tainted

b) Disappeared

c) Darkened

d) Drooped

e) Deepened

Ans: B

Solution: B is the right answer. FADED means to gradually grow faint and disappear. The passage has
used the word to highlight how the declarations made in the Fourth World Conference on Women in
Beijing in 1995 have lost significance. DISAPPEARED is a synonym.

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TAINTED- to spoil something, especially food or blood, by adding a harmful substance, or to spoil people's
opinion of someone

DARKENED- to make or become dark or darker.

DROOPED- bend or hang downwards limply.

DEEPENED- make or become deep or deeper.

Question-6

Level-Moderate

Choose the word/group of words which is most nearly the same in meaning as the word CATERS given
in bold as used in the passage.

a) crooked

b) available

c) subjects

d) pampers

e) plans

Ans: D

Solution: D is the right answer. CATERS means to try to satisfy a need or demand. The sentence uses
this word to talk about microfinance companies specifically targeting women. PAMPERS means to indulge
with every attention, comfort, and kindness. It is a synonym.

CROOKED- bent or twisted out of shape or out of place.

AVAILABLE- able to be used or obtained; at someone's disposal.

SUBJECTS- a person or thing that is being discussed, described, or dealt with.

PLANS- a detailed proposal for doing or achieving something.

Question-7

Level-Moderate

Which of the following is true in the context of the passage?

a) Women in Asia and Africa have access to primary but not higher education.

b) International conferences on gender equality have not resulted in any concrete aid and action.

c) There has been much focus on the issue of gender equality in the past two decades.

d) Over half the women in sub Saharan Africa are illiterate.

e) All of the given statements are true in the context of the passage.

Ans: C

Solution: C is the right answer. The opening statement of the passage talks about the conference in
1995 and its declarations. It also talks about recent developments and issues related to gender equality.
Thus, it can be said that the passage addresses the issue of gender equality. Refer to the lines: Most of
the declarations of the Fourth World Conference on Women in Beijing in 1995 have faded from memory.
But the linkage made between women’s rights and poverty and the assumption that discrimination
actually impedes progress-has survived.

A is incorrect. The passage does not talk about access to primary education, it merely highlights the
difference in levels of economic development and its relation to access to education.

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B is incorrect. The passage merely talks about one international conference and it does not discuss about
its outcome.

D is incorrect. The passage does not state the percentage of illiterate women in sub Saharan Africa.

Question-8

Level-Moderate

Choose the word which is most opposite in meaning to the word FAIRER given in bold as used in the
passage.

a) Dimmer

b) Mysterious

c) Depressing

d) Biased

e) Dusty

Ans: D

Solution: D is the right answer. FAIRER means treating people equally without favouritism or
discrimination. In the context of the passage it has been used to imply that women should get the same
treatment as men. BIASED is the antonym. If someone is BIASED, they prefer one group of people to
another, and behave unfairly as a result.

DIMMER- (of a light, colour, or illuminated object) not shining brightly or clearly.

MYSTERIOUS- difficult or impossible to understand, explain, or identify.

DEPRESSING- causing or resulting in a feeling of miserable dejection.

DUSTY- covered with, full of, or resembling dust.

Question-9

Level-Moderate

Choose the word which is most opposite in meaning to the word IMPLAUSIBLE given in bold as used
in the passage.

a) Questionable

b) Open

c) Hypocritical

d) Credible

e) Fake

Ans: D

Solution: D is the right answer. If you describe something as IMPLAUSIBLE, you believe that it is unlikely
to be true. In the context of the passage, the word has been used to highlight that men would disagree
with the findings of studies, which say that women use money more wisely than men. CREDIBLE is the
antonym. CREDIBLE means able to be trusted or believed.

QUESTIONABLE- If you say that something is QUESTIONABLE, you mean that it is not completely honest,
reasonable, or acceptable.

OPEN- If you describe a person or their character as OPEN, you mean they are honest and do not want
or try to hide anything or to deceive anyone.

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HYPOCRITICAL- If you accuse someone of being HYPOCRITICAL, you mean that they pretend to have
qualities, beliefs, or feelings that they do not really have.

FAKE- not genuine; imitation or counterfeit.

Question-10

Level-Moderate

According to the passage, what can be said with regard to Africa?

a) It is struggling to improve the situation with regard to discrimination against women.

b) While cultural attitudes are changing fast, gender equal policies lag behind.

c) Today there is parity between men and women in terms of property rights.

d) Micro-credit programmes here have not enjoyed the same success as they did in Asia.

e) None of the given options can be said.

Ans: A

Solution: A is the right answer. Refer to the lines: Some researchers reckon that, if female farmers in
places like Cameron or Kenya were afforded the same schooling and other opportunities as male farmers,
crop yields would rise quite heftily. One economic analysis estimates that, if countries in South Asia,
Africa and the Middle East had closed the gender gap in schooling at the same rate as East Asia after
1960. Income per head could have grown substantially over the actual growth rates achieved.

Some South American Countries, like Bolivia and Guatemala restrict wives employment outside the home
in South African nations like Botswana, women have no independent right to manage their own land but
now the girls are offered stipends for secondary education- a long standing programme now bolstered
by multilateral aid. The passage talks about the adverse impact of lack of access to education and land
rights to women in African countries on the economic development of these countries.

B is incorrect. The passage does not state that the cultural attitudes are changing at a fast rate.

C is incorrect. The passage does not state that there is parity between men and women in terms of
property rights.

D is incorrect. The passage does not compare the success of microfinance companies in Asia and Africa.

Similar readings:

1.https://www.businesstoday.in/current/economy-politics/lack-quality-jobs-increasing-wage-disparity-
markers-gender-inequality-labour-market-oxfam-study/story/332147.html

2. https://www.thetelegram.com/news/now-atlantic/tipping-the-scales-for-women-in-tech-288948/

3.https://www.project-syndicate.org/commentary/open-trade-accelerates-poverty-reduction-by-
caroline-freund-and-robert-koopman-1-2019-02

For In-depth analysis of above readings, Visit our Blog at http://practicemock.com/blog/

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