Direction (Q. 1 - 10) : Read the following passage carefully and answer the questions given below it. A sound and effective banking system is the backbone of an economy. The economy of a country can function smoothly and without many hassles if the banking system backing it is not only flexible but also capable of meeting the new challenges posed by the technology and other external as well as internal factors. The importance and role of information technology for achieving this benign objective cannot be undermined. There is an urgent need for not only technology up gradation but also its integration with the general way of functioning of banks to give them an edge in respect of services provided to the customers, better housekeeping, optimizing the use of funds and building up of management information system for decision making. The technology has the potential to change methods of marketing, advertising, designing, pricing and distributing financial products and services and cost savings in the form of an electronic, self-service product delivery channel. The technology holds the key to the future success of Indian Banks. Thus, “Electronic Banking” is the
need of the hour, which cannot be lost sight of except at the cost of elimination from the competition. The existence of Electronic banking also becomes inevitable due to the standards required to be matched at the international level. Thus, the domestic as well as the international standards mandates the adoption of Electronic banking at the earliest possible moment. In India, from the early I990’s, electronic banking is gaining in popularity as an important distribution channel to provide banking services. This direction is being taken by the batiks to differentiate their services to the consumers to gain their loyalty. The strategies adopted by the Indian banks to survive the increased competition are the focus of this study. Technology is enabling banks to provide the convenience of anytime-anywhere-banking. Banks are now reengineering the way in which their services can be reached to their customers by bringing in flexibility in their “distribution channels”. The earlier brick-and-molar branch is no longer sufficient; technology is now taking banks to the homes or offices, 24 hours a day, 365 days a year through ATMs, phone banking and PC banking. The financial supply chain is under going a fundamental strategic change.
1. Which of the following is possibly the most suitable title for the passage ?
1)Effective banking system in India 2) The government’s regular policy for Indian bank
3) Structure of Indian Banking 4) The financial system of India 5) Electronic banking in India
2. Find the false statements(s) on the basis of the given passage ?
1) The journey of Indian Banking System can be segregated into three distinct phases.
2) There were approximately 1100 banks, mostly small.
3) Reserve Bank of India was vested with extensive power for the supervision of banking in India as the Central Banking Authority.
4) Banking in the sunshine of Government ownership gave the public implicit faith and immense confidence about the
sustainability of the institutions.
5) All of the above.
3. Which of the following is the main objective of the electronic banking?
1) To access banking facility anytime, from anywhere.
2) To increase customer service , satisfaction but reduce the cost of banking.
3) No queues to stand in, or turns to wait for the VIP.
4) Both 1 and 2
5) None of these
14. Which of the following best describe the word‘Reengineering’ as used in the passage?
1) The fundamental rethinking and radical redesign of business.
2) a process of construction of old mechanism.
3) A new life cycle of products.
4) All of the above.
5) None of these
5. Which of the following facts is true as per the passage?
1) Secure Access is a simple three-step process that greatly enhances your online security and allows you to transfer funds online.
2) Electronic transactions are fast catching on but branch banking is unlikely to go out of fashion completely .
3) Without a sound and effective banking system in India it cannot have a healthy economy.
4) The most striking is its extensive reach; it is no longer confined to only metropolitans or cosmopolitans in India.
5) Both 2 and 3
Direction (Q. 6 -8): Choose the word which is MOST SIMILAR in meaning to the word printed in bold as used in the passage.
1) Vertebrae 2) Ineptness 3) Spinal cord 4) Will power 5) Resolution
1) Argument 2) Inconvenience 3) Squabble 4) Tranquillity 5) Aid
1) Kind 2) Detrimental 3) Derogatory 4) Favourable 5) Hateful
Direction (Q.9 -10) : Choose the word which is MOST OPPOSITE in meaning to the word printed in bold as given below:
1) Certain 2) Avoidable 3) Decreed 4) Fateful 5) Impending
1) Accretion 2) Elaboration 3) Copulation 4) Growth 5) Minimum
1.5 , 2.5, 3.2, 4.1 , 5.5 , 6.1 , 7.2 , 8.4, 9. 2, 10.5