Memory Based Paper

Bank of India
Credit Officer
2020
Bank of India Credit Officer 2020 Memory Based Paper

Section: General Awareness

1. With which of the following Financial Institution, Gruh Finance was merged?

a) Bandhan Bank

b) RBL Bank

c) Karur Vysya Bank

d) Dhanlaxmi Bank

e) None of these

Sol: a,

HDFC Ltd-promoted affordable housing finance, Gruh Finance, is now finally merged with
Kolkata-based Bandhan Bank. About 99.36% shareholders of the Gruh finance has voted for the
amalgamation process.

2. With which gulf country India has signed MoU in December 2020 to set up a task force on
Energy, to identify specific projects in India's energy Sector?

a) UAE
b) Qatar
c) Saudi Arabia
d) Oman
e) Bahrain

Sol: b

India and Qatar will set up a task force on Energy, to identify specific projects in India's energy
sector for Qatar‘s investment.

2 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

3. How many seats JD(U) have won in recently held Bihar election?

a) 51 seats

b) 43 seats

c) 49 seats

d) 44 seats

e) 42 seats

Sol: b,

According to the Election Commission's report, Bihar Assembly Election Result the BJP has won
72 seats to emerge as the senior member in its alliance with JDU, which managed just 43.

4. In 2016, India signed Logistics Exchange Memorandum of Agreement (Lemoa) with which

of these country to facilitate the easy logistics engagement?

a) Germany

b) Russia

c) USA

d) Iran

e) None of these

Sol- c

To allow militaries to work closely and use each other‘s bases for repair and replenishment of

supplies for the practically engage and exchange.

3 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

5. HDFC bank limited launched which of the following campaign to create awareness on
cyber frauds?

a) Pan the phone

b) Digital Apnayen

c) Mooh Band Rakho

d) Tilt the phone

e) None of these

Sol: c

In order to create awareness on cyber frauds and crimes and how to prevent from them HDFC
bank launched a campaign called ‗Mooh Band Rakho‘ for the general public in Cyberabad during
the International Fraud Awareness week, 2020.

6. Which of the following is not a loan category under MUDRA scheme?

a) Shishu: loans up to ₹50,000

b) Kishore: loans up to ₹5 lakh
c) Tarun: loans up to ₹10 lakh
d) Vayask: loans up to ₹25 lakh
e) All above are part of MUDRA

Sol: d

There are only three categories –

Shishu (शििु): loans up to ₹50,000

Kishore (कििोर): loans up to ₹5 lakh

Tarun (तरुण): loans up to ₹10 lakh

4 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

7. The „Har Ghar Jal Yojana‟ was launched by the Prime Minister to provide water over
_____ villages in Uttar Pradesh?

a) 2000

b) 3000

c) 1000

d) 4000

e) 5000

Sol: b,

The scheme worth ₹5,555.38 crore is aimed at providing water to over 41 lakh villagers in
Sonbhadra and Mirzapur districts of Uttar Pradesh.

8. Which of the following has acquired Ed-tech platform White Hat Jr?

a) Testbook

b) Gradeup

c) Byju's

d) Vedantu

e) None of these

Sol: c,

The Mumbai based Ed-tech platform White Hat Jr has been acquired by Byju‘s for $ 300 million.
Byju‘s will make significant investments in WhiteHat Jr‘s technology platform, product innovation,
while expanding the teacher base to cater to demand from new markets.

5 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

9. Till which year the Pradhan Mantri Awas Yojana is extended?

a) 2022

b) 2030

c) 2021

d) 2025

e) None of these

Sol: a,

PMAY was launched on 25th June, 2015 and it is now extended till 31st March 2022 to provide
affordable houses to urban poor and Pradhan Mantri Awas Yojana – Gramin for the rural poor.

10. India Post Payment Bank launched an insurance policy called Pradhan Mantri Jeevan
Jyoti Bima Yojana in partnership with which of company?

a) HDFC Life Insurance

b) ICICI Prudential Life Insurance Company

c) PNB Met life insurance

d) Max Life Insurance

e) None of these

Sol: c,

Pradhan Mantri Jeevan Jyoti Bima Yojana is a social security scheme launched by the Govt. of
India that will help you secure your family‘s future with a life cover amount of Rs. 2 lakhs with one
year cover and renewed on yearly basis.

6 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

11. In QR code, What "R" means?

a) React

b) Response

c) Rent

d) Responsive

e) None of these

Sol: b,

QR code is ‗quick response‘ barcode. A type of barcode that can be easily read by a digital device
and which stores information as a series of pixels in a square-shaped grid. They are basically
used for products, marketing and in advertising campaigns.

12. Who is the head of the committee to recommend the analysis on QR codes for Payment
System Operators (PSO)?

a) D.B. Phatak

b) P K Mohanty

c) Sunil Mehta

d) Ajay Shankar

e) None of these

Sol: a,

The committee was formed by reserve Bank of India in December 2019 under the chairmanship
of Professor Deepak B Phatak to review and analyze the system of QR codes in digital payments
of India. The committee asked the government to provide incentives schemes to make this QR
code popular among the public.

7 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

13. Where is the headquarter of „Mobikwik‟ located in India?

a) Hyderabad

b) Gurugram

c) Pune

d) Mumbai

e) Bangalore

Sol: b,

MobiKwik is an Indian payment service provider founded in 2009 that provides a mobile phone-
based payment system and digital wallet. It was founded in April 2009

14. ___________________ is not an example of an antivirus.

a) Bit Defender
b) Firewall
c) MacAfee
d) AVG
e) Avast

Sol: b

15. Recently Uttarakhand state celebrated its foundation day on?

a) 10th November
b) 8th November
c) 9th November
d) 11th November
e) None of these

Sol: c - The state Uttarakhand celebrates 9th of November as its foundation day. It was formed in
the year 2000 marking it as the 27th state of India after collaborating different districts from
northwestern part of Uttar Pradesh and a part of Himalayan Mountains.

8 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

16. Kamala Harris, Vice President Elect of USA wrote a children book, what is the name of
the book?

a) The truths we hold

b) Superheroes are everywhere

c) Kamala and Maya's Big Idea

d) Smart on crime

e) None of these

Sol: b,

The book tells about the superheroes that Kamala Harris has experienced in her life. It tells us
about the things that we can inspire others and how each one of us can be superhero for our self
and others too.

About Kamala Harris, she is an African American, and South Asian Attorney General of California
and the first black woman elected to the United States Senate.

17. An initiative by which state High Court is providing the live streaming of Court
Proceedings through YouTube from 26th October 2020?

a) Gujarat

b) Kerala

c) Karnataka

d) Bihar

e) None of these

Sol: a,

Youtube Live Streaming of the Full Court Reference was held on the occasion of diamond jubilee
of the establishment of the High Court of Gujarat will start from 1st May, 2020.

9 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

18. Where is the headquarter of NGFS (Network for Greening the Financial System)?

a) Paris, France

b) Athens, Greece

c) California, USA

d) Rome, Italy

e) None of these

Sol: a,

NGFS was formed on 12th December 2017 in Paris, France. It is a group of 83 central banks and
financial supervisors that aims to accelerate the scaling up of green finance and develop
recommendations for central banks' role for climate change.

19. Among the following which is not a money remittance service provider?

a) TransUnion

b) Western union

c) Moneygram

d) Remitly

e) None of these

Sol: a,

Only transunion is not the money remittance service provider as it is the credit information service
provider company.

10 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

20. As per the recommendation of Internal Working Group headed by PK Mohanty, how
much should be the minimum paid up capital of a Small Finance Bank?

a) Rs 300 Crore

b) Rs 500 Crore

c) Rs 100 Crore

d) Rs 400 Crore

e) None of these

Sol: a

The P.K. Mohanty headed Internal Working Group committee had recommended that the
minimum initial capital requirement to set up a new universal bank may be increased to Rs 1000
crore earlier Rs 500 crore while that of small finance bank (SFB) may also be raised to Rs 300
crore from earlier Rs 200 crore.

21. How much is the maximum amount of bank loan under stand up India for ST and SC
women?

a) 1 Crore

b) 2 crore

c) 50 lakh

d) 75 lakh

e) 1.5 crore

Sol: a,

In the Stand-Up India scheme, banks provide loans from Rs 10 lakh to Rs 1 crore to at least one
Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per
bank branch. This scheme was launched by Prime Minister Narendra Modi in April, 2016. It will be
available at all branches of Scheduled Commercial Banks.

11 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

22. In “SWIFT”, expand F In it.

a) Fund
b) Foreign
c) Financial
d) Frequency
e) None of these

Sol: c

The Society for Worldwide Interbank Financial Telecommunication, provides a network that
enables financial institutions worldwide to send and receive information about financial transactions
in a secure, standardized and reliable environment.

Headquarters: La Hulpe, Belgium and Founded: 1973, Brussels, Belgium.

23. Keibul Lamjao Park, is the only floating national park in India. In which state it is
situated?

a) Sikkim

b) Nagaland

c) Meghalaya

d) Manipur

e) Mizoram

Sol: d,

The only floating national park in the World is located in Bishnupur district in Manipur and forms
an integral part of Loktak Lake. It is 40km2 in area. It has a 1.5-metre deep vegetation, which
keeps floating, and this floating foliage is known as phumdi.

12 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

24. Where are the printing presses facility of Bharatiya Reserve Bank Note Mudran Pvt.
Limited is situated?

a) Mysore, Karnataka and Salboni, West Bengal

b) Bangalore, Karnataka and Kochi, Kerala

c) Cuttack, Odisha and Mumbai, Maharashtra

d) Guwahati, Assam and Tirupati, Andhra Pradesh

e) None of these

Sol: a,

Bharatiya Reserve Bank Note Mudran Pvt. Limited (BRBNMPL) is a wholly owned subsidiary
established by RBI on 3rd February 1995 with a view to augment the production of bank notes in
the country to enable RBI to bridge gap between the supply and demand of notes in India. It has
two printing presses one at Mysore, Karnataka and the other in Salboni, West Bengal.

25. Which Indian movie had won the National Award for the Best Feature Film of 2020?

a) Kastoori

b) Marakkar: Lion of Arabian Sea

c) Bahattar Hoorain

d) Maharshi

e) An Engineered Dream

Sol: b,

An action and adventure movie, Marakkar: Lion of Arabian Sea won the National Award for the
Best Feature Film of 2020.

13 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

26. What is the maximum amount a payment bank should maintain at the end of the day as
per the KYC – Know Your Customer complaint PPIs?

a) Rs 2 Lakh

b) Rs 5 Lakh

c) Rs 3 Lakh

d) Rs 4 Lakh

e) Rs 10 Lakh

Sol: a,

27. In which year, CIBIL Limited (formerly Credit Information Bureau (India) Limited) was
incorporated?

a) 2002
b) 2000
c) 2001
d) 2004
e) 2003

Sol: b

Founded in 2000, TransUnion CIBIL Limited (formerly known as Credit Information Bureau (India)
Limited) is India's first Credit Information Company. It collects and maintains credit related
information of individuals and corporates, including loans and credit cards.

28. The movie “Hellaro” is of which language?

a) Gujarati

b) Bengali

c) Tamil

d) Kannada

e) Rajasthani

14 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

Sol: a,

Hellaro is a 2019 Indian Gujarati period drama film co-written and directed by Abhishek Shah and
produced by Ashish Patel. The movie is all about a group of suppressed women from a village in
Gujarat find someone in the desert and their lives are changed forever.

29. With which of the following institution Luxembourger Stock Exchange signed an MoU
to set up a long-term cooperation mechanism and promote ESG (Environmental, Social,
and Corporate Governance) and green finance?

a) State Bank of India

b) Punjab National Bank

c) Axis Bank

d) Bank of India

e) None of these

Sol: a,

To promote green finance a MoU has been signed between the two for setting up a long term
cooperation.

30. Which of the following bank launched the Healthlife scheme with Apollo Hospitals?

a) ICICI Bank

b) HDFC Bank

c) Yes Bank

d) Axis Bank

e) Kotak Mahindra Bank

Sol: b,

15 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

Apollo Hospitals and HDFC Bank have partnered to launch ‗The Healthy Life Programme‘ to make
health care solutions easily accessible and affordable on Apollo platform 24/7. The customers of
the bank will get the service in need of an emergency with the Apollo doctors at no cost.

31. SEBI, in September 2020, has added ____________ to the list of entities that can
undertake e-KYC Aadhaar authentication.

a) BSE
b) NSE
c) CSE
d) NASDAQ
e) None of these

Sol:- b

SEBI has added the National Stock Exchange (NSE) to the list of entities that can undertake e-KYC
Aadhaar authentication.

32. Saudi Arabia's Public Investment Fund (PIF) invested how much amount to acquire
2.04% stake in Reliance Retail?

a) ₹ 8,555 crore

b) ₹ 9,555 crore

c) ₹ 7,555 crore

d) ₹ 6,555 crore

e) None of these

Sol: b,

The Public Investment Fund (PIF) of Saudi Arabia has revealed that it will be investing ₹9,555 crore
for a 2.04% stake in Reliance Industries Ltd (RIL). This investment will strengthen the PIF‘s
presence in the Indian economy retail management

16 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

33. Which of the following cannot lend money to public?

a) Payment Bank

b) Co-operative Banks

c) Small Finance Banks

d) Regional Rural Banks

e) Commercial Banks

Sol: a,

As stated by RBI the payment banks will only be accepting deposits both current and savings but
will not get involved in lending activity.

34. What is the minimum capital required to maintain in the Asset Reconstruction
Company (ARC)?

a) Rs 100 crore

b) Rs 200 crore

c) Rs 150 crore

d) Rs 50 crore

e) Rs 250 crore

Sol: a

As per the RBI guidelines a minimum capital of Rs 100 crore is needed to be maintained by ARC.
ARC is a specialized institution that buys the NPA‘s from banks so that the bank can clean up
their balance sheets.

17 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

35. The World Bank will provide _____ $ billion loan to support India‟s efforts at providing
social assistance to the poor and vulnerable households, severely impacted by the COVID-
19 pandemic.

a) $ 2 billion

b) $ 5 billion

c) $ 1 billion

d) $ 3 billion

e) None of these

Sol: a,

The Bank will provide a $ 1billion aid towards emergency COVID-19 response in India to $2 billion.

36. Which of the following 3 banks are in PCA at present as per RBI?

a) UCO bank

b) Indian Overseas bank

c) Central bank of india

d) All of the above

e) None of these

Sol: d,

Three banks under RBI‘s PCA framework are UCO Bank, Indian Overseas Bank and Central Bank
of India. PCA is Prompt Corrective Action. The objective of the PCA Framework is to enable
Supervisory intervention at appropriate time and require the Supervised Entity to initiate and
implement remedial measures in a timely manner, so as to restore its financial health.

18 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

37. In December 2020, Export-Import Bank of India (Exim Bank) has extended a $448-million
line of credit (LOC) for various infrastructure projects in ___________.

a) Kazakhstan
b) Tajikistan
c) Turkmenistan
d) Uzbekistan
e) None of these

Sol- d

Export-Import Bank of India (Exim Bank) has extended a $448-million line of credit (LOC) for
various infrastructure projects in Uzbekistan.

 The LOC has been extended on behalf of the Indian government.

 Exim Bank is a specialized financial institution wholly owned by the Government of India with
presence in Indian and foreign cities around the world. It was set up in 1982, for the purpose of
financing, facilitating and promoting India‘s international trade
 Exim Bank Headquarters: MumbaiMD: David Rasquinha

38. State Bank of India secured loan of USD1 billion from which of these international
body?

a) JBIC (Japan Bank for International Co-operation)

b) Mitsubishi UFJ Financial

c) Japan Post Bank

d) Shinkin Central Bank

e) The Norinchukin Bank

Sol: a, - India‘s largest bank the State Bank of India has raised a loan of $1 billion from Japan
Bank for International Co-operation in October 2020 to extend loans to supply chain of Japanese
automobile industry in India.

19 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

39. What is CRILC ?

a) Centre for Repository of Information on Loans Credits

b) Central Resource Index on Loan Council

c) Credit Resource Information Loan Centre

d) Central Repository of Information on Large Credits

e) None of the above

Sol- d

In 2014 RBI has set up the CRILC to collect, store and disseminate data on all borrowers' credit

exposures including Special Mention Accounts having aggregate fund-based and non-fund based

exposure of Rs.50 million and above. The Central Repository of Information on Large Credits

(CRILC) has proved to be an important tool for effective off-site supervision.

40. The book "The India Way: Strategies for an Uncertain World" is written by the author?

a) Anmol Malik

b) Karuna Ezara Parikh

c) Dr. S. Jaishankar

d) Jeet Thayil

e) None of these

Sol: c

20 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

41. Which of these grand prix won by Lewis Hamilton recently by defeating Sergio Perez
Mendoza?

a) Sakhir Grand Prix

b) Austrian Grand Prix

c) Hungarian Grand Prix

d) British Grand Prix

e) Turkish Grand Prix

Sol: e,

The Turkish Grand Prix is a formula one race motor held on 15th November, 2020 at Istanbul Park
in Tuzla, Istanbul. Lewis Hamilton won it by defeating Sergio Perez Mendoza.

42. Who had won the IPL emerging player of the year in recent IPL 2020 held in UAE?

a) Devdutt Padikkal. (RCB)

b) KL Rahul (Kings XI Punjab)

c) Kieron Pollard (Mumbai Indians)

d) Trent Boult (Mumbai Indians)

e) Jofra Archer (Rajasthan Royals)

Sol: a,

Devdutt Padikkal had won the Emerging Player award in IPL 2020. He scored 473 runs in 15
games for Royal Challengers Bangalore.

21 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

43. World Science Day for Peace and Development is observed every year on?

a) November 10

b) November 17

c) November 6

d) November 5

e) November 11

Sol: a

The important role of science in society and the need to engage the wider public in debates on
emerging scientific issues and also tells about the relevance of science in our daily lives.

44. What was the theme for International Happiness day 2020?

a) Share Happiness and be Part of Something Amazing

b) Share Happiness

c) Happiness for All, For Ever

d) Global happiness

e) None of these

Sol: c,

The day is celebrated across the world every year on 20th March. It was founded and finalized by
Jayme Illien in 2006.

22 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

45. Border Security Force has celebrated its _____Raising day on 1 December 2020.

a) 50th
b) 56th
c) 60th
d) 67th
e) 70th

Sol: b

Border Security Force has celebrated its 56th Raising day on 1 December 2020.

BSF was formed on December 1, 1965, as a unified central agency, after the Indo-Pak and India-
China wars, for ensuring the security of the borders of India and for matters connected therewith.

46. __________ has topped in the ranking of aspirational districts by government think tank
NITI Aayog in December 2020.

a) Garhwa
b) Dhalai
c) Shrawasti
d) Baksa
e) None of these

Sol: c

Shrawasti in Uttar Pradesh has topped in the ranking of aspirational districts by government think
tank NITI Aayog in December 2020.

 Dhalai (Tripura) and Garhwa (Jharkhand) have been placed at the second and the third
positions, respectively.
 Baksa (Assam) and Bokaro (Jharkhand) have been ranked fourth and fifth, respectively.
 NITI Aayog Headquarters: New Delhi Chairman: Narendra Modi

23 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

47. NSE has launched first agricultural commodity futures contract in December 2020.
Which commodity was it related to?

a) Soyabean oil

b) Corn

c) Wheat

d) Rice

e) Cotton Seed

Sol: a

Leading stock exchange NSE launched its first agricultural commodity futures contract on crude
degummed soybean oil on December 1. The contract is a monthly expiry futures contract with a
trading lot size of 10 metric tonne (MT) and price basis as Kandla. The first trade was executed by
East India Securities Ltd and Budge Budge Refineries Ltd, one of the premier edible oil refiners.

48. UNESCO recognises two coastal villages of _________ as Tsunami Ready.

a) Kerala

b) West Bengal

c) Odisha

d) Andhra Pradesh

e) Tamil Nadu

Sol: c

The two coastal villages are Venkatraipur (Boxipalli) village of Rangeilunda block in Ganjam district
and Noliasahi village of Ersama block in Jagatsinghpur district of Odisha.

24 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

49. Who is the present Chief Vigilance Officer?

a) Yashvardhan Kumar Sinha

b) K. V. Chowdary

c) Sanjay Kothari

d) Suresh N Patel

e) None of these

Sol: a,

He was appointed as the Chief Vigilance Officer at the Rashtrapati Bhavan, Delhi by the President
Ram Nath Kovind on 7th November, 2020.

50. Pradhan Mantri Jan Dhan Yojana was launched in _________.

a) November 2014
b) July 2010
c) September 2012
d) August 2014
e) September 2014

Sol: d

Pradhan Mantri Jan Dhan Yojana was launched in August 2014 for a period of four years. There
are approximately 32.41 crore Jan Dhan accounts having a total deposit balance of Rs 81,200
crore.

 The over-draft limit for account holders has now been doubled to Rs 10,000 and
 The free accident insurance cover for new accounts after August 28 has been doubled to Rs 2
lakh.

25 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

Section: English Language

Directions(51-55):

In each of the questions given below, a sentence is given, divided into [Link] of the

parts may contain an error. You are required to identify the part that contains an error, and

mark it as the answer. Ignore errors of punctuation. In case the sentence is correct as it

is,then mark option (5), as your answer.

51. The provisions of the new Higher Education Commission of India (HECI) Bill drafted by the
Centre have far-reaching implications for the expansion and quality of human resource
development, at a time when access to skill-building and educational opportunity are vitally
important.

a) The provisions of the new Higher Education Commission of India (HECI) Bill
b) drafted by the Centre have far-reaching implications for
c) the expansion and quality of human resource development,
d) at a time when access to skill-building and educational opportunity are vitally important.
e) No Error

Sol: e

The provisions of the new Higher Education Commission of India (HECI) Bill drafted by the Centre
have far-reaching implications for the expansion and quality of human resource development, at a
time when access to skill-building and educational opportunity are vitally important.

26 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

52. The relief from the soaring heat in north India, however, may be short-lived as the much of the
monsoon activity is expecting for shift back to the Konkan coast and the Himalayan foothills in the
coming week.

a) The relief from the soaring heat in north India

b) however, may be short-lived as the much of the monsoon activity
c) is expecting for shift back to the Konkan coast
d) and the Himalayan foothills in the coming week.
e) No Error

Sol:- c

The relief from the soaring heat in north India, however, may be short-lived as the much of the
monsoon activity is expected to shift back to the Konkan coast and the Himalayan foothills in the
coming week.

53. Troubled by the rising frequency of such incendiary social media posts, the Assam police is
having been experimenting with a slew of ‗soft policing‘ tactics.

a) Troubled by the rising frequency

b) of such incendiary social media posts,
c) the Assam police is having been experimenting
d) with a slew of ‗soft policing‘ tactics.
e) No Error

Sol: c

Replace 'having been' with 'have been'.

Troubled by the rising frequency of such incendiary social media posts, the Assam police have
been experimenting with a slew of ‗soft policing‘ tactics.

27 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

54. Among the more contentious issues arising out in the draft Bill is the Centre‘s decision to shift
grant-giving powers for higher education institutions to the Ministry of Human Resource
Development or a separate body.

a) Among the more contentious issues arising out in

b) the draft Bill is the Centre‘s decision to shift grant-giving powers
c) for higher education institutions to
d) the Ministry of Human Resource Development or a separate body.
e) No Error

Sol: a

Replace 'in' with 'of'.

Among the more contentious issues arising out of the draft Bill is the Centre‘s decision to shift
grant-giving powers for higher education institutions to the Ministry of Human Resource
Development or a separate body.

55. The rise in global trade tensions amidst the ongoing trade war could be another factor before
the rout in emerging market currencies, but its impact on the rupee remains unclear as of now.

a) The rise in global trade tensions amidst

b) the ongoing trade war could be another factor
c) before the rout in emerging market currencies,
d) but its impact on the rupee remains unclear as of now.
e) No Error

Sol: c

Replace 'before' with 'behind'.

The rise in global trade tensions amidst the ongoing trade war could be another factor behind the
rout in emerging market currencies, but its impact on the rupee remains unclear as of now.

28 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

Directions: In each question below, a sentence is given with a part of it printed in bold type.
That part may contain a grammatical error. Each sentence is followed by phrases 1), 2) and
3) and 4). Find out which phrase should replace the phrase given in bold to correct the error,
if there is any, and to make the sentence grammatically meaningful and correct. If the
sentence is correct as it is and „No correction is required‟, mark 5) as the answer.

56. At the root of cognition, there is a complicated dialectical process that taken place from
different forms, having its own degrees of development.

a) That taken place in

b) That took place for
c) Taking place in
d) Taken place of
e) No correction is required

Sol: c

At the root of cognition, there is a complicated dialectical process taking place in different forms,
having its own degrees of development.

57. S D Burman was amongst the very few composers who have actually learn and knew
Hindustani classical music well enough to know when to use it and when to abstain.

a) Have actual learned

b) Had actually learnt
c) Has actually learn
d) Had been actually learned
e) No correction is required

Sol: b- S D Burman was amongst the very few composers who had actually learnt and knew
Hindustani classical music well enough to know when to use it and when to abstain.

We are talking about past in this sentence, thus past tense.

29 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

58. The government reportedly wanted to set on an independent regulator for skills training in the
country.

a) Wanted to set off

b) Wants to set over
c) Wanting to set up
d) Wants to set up
e) No correction is required

Sol: d

The government reportedly wants to set up an independent regulator for skills training in the
country.

The statement is reporting an expected event. Set up - to create,organize or arrange.

59. The school system already has its own regulation and it must reform, to produce children
ready to learn.

a) Altogether had its own

b) Already had its own
c) Already have its own
d) All over has its own
e) No Correction is Required

Sol: e

The statement is grammatically correct.

The school system already has its own regulation and it must reform, to produce children ready to
learn.

30 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

Direction:- Rearrange the following five sentences A, B, C, D, and E in the proper sequence
to form a meaningful/coherent paragraph and answer the following questions.

A. A study, published in Environmental Science and Technology Letters, has found over 30
micrograms per litre (mcg/l) of the heavy metal in parts of northwestern, southern and
southeastern India.
B. Drinking such water can damage one‘s kidneys, and the World Health Organization prescribes
30 mcg/l as an upper limit.
C. Reports of widespread uranium contamination in groundwater across India demand an urgent
response.
D. Unfortunately, the residents of the regions surveyed were using the contaminated wells as their
main source of drinking water.
E. These findings highlight a major gap in India‘s water-quality monitoring.

Solution:-

Correct Sequence: CABDE

THE TOPIC

[Link] of widespread uranium contamination in groundwater across India demand an urgent

response.

FACTS

A.A study, published in Environmental Science and Technology Letters, has found over 30
micrograms per litre (mcg/l) of the heavy metal in parts of northwestern, southern and southeastern
India.

THE NEGATIVE EFFECTS

[Link] such water can damage one‘s kidneys, and the World Health Organization prescribes
30 mcg/l as an upper limit.

THE SCENARIO

[Link], the residents of the regions surveyed were using the contaminated wells as their
main source of drinking water.

INFERENCE

[Link] findings highlight a major gap in India‘s water-quality monitoring.

31 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

60. Which of the following will be the FIFTH (LAST) statement after the rearrangement?

a) B
b) C
c) D
d) E
e) A

Sol:d

61. Which of the following will be the FIRST statement after the rearrangement?

a) E
b) D
c) C
d) B
e) A

Sol: c

62. Which of the following will be the THIRD statement after the rearrangement?

a) A
b) D
c) C
d) B
e) E

Sol : d

32 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

63. Which of the following will be the FOURTH statement after the rearrangement?

a) D
b) E
c) C
d) A
e) B

Sol: a

64. Which of the following will be the SECOND statement after the rearrangement?

a) B
b) A
c) C
d) E
e) D

Sol: b

Direction:- In the following sentences, there are two blanks. Find out the appropriate words
for filling up the blanks:

65. Ingmar Bergman, one of the most distinguished filmmakers of his generation whose
melancholic work is often tough-to-digest but celebrated, still __________ audiences as much as
he __________ his critics.

a) captivates , puts off

b) enthrals, puts out
c) repels , puts up with
d) mesmerize, puts off
e) None of these

Sol: a

33 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

Put off (phrasal verb) - to make someone not like someone or something. It also means to
postpone, switch something off

Puts out – to publish, to extinguish

Puts up with – to tolerte

Direction:- In the following sentences, there are two blanks. Find out the appropriate words
for filling up the blanks:

66. Some of the many green spaces in the Italian capital are now in the hands of prisoners under a
new scheme that drafts them ________________ maintain or ______________ gardens and
parks.

a) into, trim up
b) in to, scruffy
c) into, spruce up
d) in to, spruce up
e) none of these

Sol: d

Drafts them in - (in order) to maintain

Spruce up – to make something cleaner or tidier or to improve its appearance.

67. But it should be clear that whatever its __________ a new dispensation from the present
assembly can come about only through horse-trading and other unseemly manoeuvres –
___________ the prescription for Jammu & Kashmir‘s current ills.

a) intensity, will be
b) hue, hardly
c) anomaly, scarcely
d) variety, not hardly
e) None of these

Sol:b

34 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

Direction:- Read the passage given below and answer the questions that follow based on it.

The mismatch between the number of people who annually reach working age and the availability
of jobs has been a matter of constant concern globally during the better part of the period since the
global financial crisis of the last decade. The International Labour Organisation‘s latest forecast that
a few more millions are set to join the pool of the jobless during this year and the next, is in line with
its own previous estimates. In any case, with the growth in global gross domestic product
registering a six-year low in 2016, expectations of generation of new jobs were always going to be
low. But a no-less-serious concern in the ‗World Employment and Social Outlook 2017‘ pertains to
the stubborn challenge of reducing the extent of vulnerability that currently affects about 42 per
cent of the total working population. This concern refers to lack of access to contributory social
protection schemes among the self-employed and allied categories, unlike their counterparts in the
wage-earning and salaried classes. The former segment accounts for nearly 50 per cent of workers
in the emerging economies and 80 per cent in developing countries. The hardships faced by these
1.4 billion working people will become more apparent when seen in the backdrop of either the
absence of strong welfare legislation or its effective enforcement in a majority of these countries. It
is no surprise that besides Sub-Saharan Africa, South Asia has been the most affected by such
volatile conditions.

To be sure, the overall share of these vulnerable workers dropped from 46 per cent of total
employment in 2015 to 42 per cent in 2016. But the latest report projects only a mere 0.2
percentage point rate of reduction through 2017-18. In comparison, it says the proportion of the
population in jobs characterised by vulnerability declined by an average annual rate of 0.5
percentage points in the previous decade. As a result of the relatively slow reversal rates in more
recent years, these numbers are projected to increase globally by 11 million a year. The other
implication of an increase in the number of people facing vulnerable working conditions is the real
danger this poses of a slowdown in reducing the incidence of working poverty. It is this celebrated
rise in income levels in the lowest rungs of the population that lent the current phase of
globalisation the social and political legitimacy, a phase that has otherwise posed the risks of
economic dislocation and unprecedented mass migration. The challenge for policymakers
worldwide is to ensure that incomes do not fall below the levels of basic subsistence as the world
marches towards the poverty reduction targets under the 2030 Sustainable Development Goals.

35 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

68. Which of the following statements is DEFINITELY TRUE, according to the passage?

a) The total number of jobless people in India is about to reach a million

b) The real data is far away from the estimate of International Labour Organization
c) The self-employed category lacks the access to contributory social protection schemes
d) The incomes are falling below levels of basic subsistence
e) All 1, 3 and 4

Sol: c

This concern refers to lack of access to contributory social protection schemes among the self-
employed and allied categories, unlike their counterparts in the wage-earning and salaried classes.

69. ―Contrary to the expectations, the generation of new jobs is lower‖. This statement is

a) Definitely true
b) Definitely False
c) Probably true
d) Probably False
e) Cannot be determined

Sol:b

―With the growth in global gross domestic product registering a six-year low in 2016, expectations
of generation of new jobs were always going to be low.‖

70. Who are the ‗vulnerable‘ workers as described in the passage?

a) The people working in areas they are not educated in

b) People having no access to definite rules of working in their field
c) People who don‘t have access to influential social protection schemes
d) All of the above
e) Not specified in the passage

Sol: c

36 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

―But a no-less-serious concern in the ‗World Employment and Social Outlook 2017‘ pertains to the
stubborn challenge of reducing the extent of vulnerability that currently affects about 42 per cent of
the total working population. This concern refers to lack of access to contributory social protection
schemes..‖

71. Choose the word/group of words which is most similar in meaning to the word/ group of word
subsistence as used in passage

a) Extinction
b) Sustenance
c) Affluence
d) Leeway
e) None of these

Sol: b

subsistence means sustenance

72. Choose the word/group of words which is most opposite in meaning to the word/ group of word
unprecedented as used in passage

a) Exceptional
b) Extension
c) Unmatched
d) Ordinary
e) None of these

Sol: d

Unprecedented means exceptional, opposite of ordinary.

37 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

Direction:- The following questions consist of a single sentence with one blank only. You
are given four words denominated by A, B, C and D as answer choices and from the four
choices you have to pick two correct answers, either of which will make the sentence
meaningfully complete.

73. Roger Federer‘s greatness lies not in smothering the competition, but in _________ the game.

(A) win (B) upping (C) boosting (D) checking

a) A&D
b) B&C
c) C&D
d) B&D
e) A&C

Sol: b

Roger Federer‘s greatness lies not in smothering / suppressing the competition, but in
upping/boosting/improving the game.

74. After recapitalization, government should _________ on a linked reform.

(A) expedite (B) bind (C) hustle (D) speed up

a) B&C
b) A&C
c) B&D
d) A&B
e) A&D

Sol- e

After recapitalization, government should expedite/speed up on a linked reform.

38 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

75. This is the first economic survey after the Goods and Services Tax (GST) was ________ last

year.

(A) discussed (B) implemented (C) enforced (D) completed

a) B&D

b) B&C

c) A&D

d) A&C

e) C&D

Sol: b

This is the first economic survey after the GST was implemented/ enforced last year.

76. The government is planning a capital __________ for the PSBs.

(A) involvement (B)inclusion (C) infusion (D) development

a) A&C

b) B&D

c) B&C

d) C&D

e) A&D

Sol: c

The government is planning a capital infusion/ inclusion for the PSBs.

39 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

Direction:- Read the passage given below and answer the questions that follow based on it.

Can the selling price rise when a market is over-supplied and demand is dull? Economics tells us
that it can‘t, but the Indian housing market seems to be defying this rule. Earlier this month, the
Ministry of Housing flagged off a new index — the NHB Residex — designed to track housing
price trends in 50 cities across India. Releasing the data, the Ministry claimed that the new index
offered proof that demonetisation hadn‘t dealt a big blow to the housing market.

Trends in the Residex certainly support this claim. According to lenders‘ data compiled by the NHB
Residex, as many as 32 of the 50 cities tracked registered rising housing prices and 13 recorded
stable trends, in the twelve months to March 2017. Only 5 cities saw declines. Large markets also
exhibited very positive long-term trends. The Residex noted a 44% rise in home prices in Pune,
41% in Mumbai, 37% in Bengaluru and 33% in Chennai, from FY13 to the first quarter of FY17.

But this trend of resilient prices sits rather oddly with the tales of woe about the residential market
doing the rounds in the last couple of years, which talk of slower sales and a stockpile of unsold
homes.

The year 2016-17 saw a perfect storm of events come together to dampen demand for housing in
India. First came demonetisation and the resulting purge of the cash component in real estate
transactions. Then the Budget delivered a rude shock by capping the tax break from ‗loss on house
property‘ at ₹2 lakh a year, for second and subsequent homes. This effectively put paid to the
‗investment‘ buying of homes, a key source of housing demand in Tier 1 cities. Cloudy job
prospects, stingy increments and layoffs for the IT sector dampened purchases by this crucial
segment too. The last nail in the coffin was the enactment of RERA (Real Estate Regulation Act)
on May 1. The new law, which forces developers to segregate buyer advances and deploy it only
in specific projects, was expected to result in a working capital crunch for developers. The industry
was in go-slow mode in the run up to this event. Reports show that these events did, in fact, shake
up the housing market. Consulting firm Knight Frank India noted in a recent review that the sales of
residential homes in the top eight cities fell by a precipitous 48% in the second half of 2016,
compared with the previous year. In January-June 2017, they climbed from that abyss, but home
sales in these cities were still 11% below 2016 levels.

40 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

77. What is meaning of the phrase ‗flagged off‘ as used in the above passage?

a) Push
b) Inaugurate
c) Shift
d) Alter
e) None of these

Sol: b

to flag off means to inaugurate

78. What is the use of NHB Residex?

a) Tracking market price in 55 cities

b) Tracking market price trends throughout the country
c) Tracking housing price trends in 55 cities
d) Tracking housing price trends throughout the country
e) None of these

Sol: e

the NHB Residex — designed to track housing price trends in 50 cities across India

79. What is the meaning of the phrase ―The last nail in the coffin‖?

a) An event that causes the failure of something that had already started to fail
b) The last action to close the deal
c) The final task done as a contribution to a series of tasks
d) An effort done to save something
e) None of these

Sol: a

41 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

80. Which of the following events, according to the passage, are responsible for the dampened

demand of housing in India?

a) Demonetisation

b) Negative return reports from consulting firm Knight Frank India

c) Introduction of RERA

d) All of the above

e) Only 1 & 3

Sol:e

―First came demonetisation .. Then the Budget delivered a rude shock by capping the tax break
from ‗loss on house property‘ at ₹2 lakh a year, for second and subsequent homes. Cloudy job
prospects, stingy increments and layoffs for the IT sector dampened purchases by this crucial
segment too. The last nail in the coffin was the enactment of RERA (Real Estate Regulation Act) on
May 1.‖

81. Choose the word which is most similar in meaning to the word abyss as used in passage.

a) Void

b) Stream

c) Peak

d) Firmament

e) None of these

Sol: a

abyss means void/hole

42 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

82. Choose the word which is most similar in meaning to the word compiled as used in passage.

a) Collected

b) Disorder

c) Divide

d) Spread

e) None of these

Sol: a

compiled means collected/assembled.

83. Choose the word which is most opposite in meaning to the word segregate as used in

passage.

a) Separate

b) Isolate

c) Set apart

d) Integrate

e) None of these

Sol: d

segregate means separate.

43 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

Direction:- In each of the following questions, a word has been used in sentences in

THREE different ways. Choose the option corresponding to the sentences in which the

usage of the word is CORRECT or APPROPRIATE.

84. FRATERNITY

i. Several economists and analysts predicted that India would be a fraternity beneficiary of the

biggest trade war of this millennium.

ii. The sudden decision has shocked the Australian cricketing fraternity, but coach Justin

Langer has come out in support of Maxwell and suggested that a lot of players are putting on

a mask of enjoying the game while they are struggling within.

iii. If this papal pilgrimage had a central theme, it was brotherhood and the fraternity of man.

a) Only (i)
b) Only (iii)
c) Both (i) and (ii)
d) Both (ii) and (iii)
e) None of these

Sol: d

Both (ii) and (iii)

Only option ‗4‘ is correct here.

Fraternity: a group of people sharing a common profession or interests./ friendship and mutual
support within a group.

44 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

85. MANOEUVRE

i. Chinese firms that are suppliers to American companies would shift their productions to
manoeuvre around the US tariffs.

ii. A review of data from the US department of commerce, which keeps track of America‘s bilateral
trade with partner countries, reveals that India‘s gains have been only manoeuvre.

iii. Despite their closer strategic alignment in recent decades, India and the United States have not
been on the same manoeuvre on trade.

a) Only (i)
b) Both (i) and (ii)
c) Only (iii)
d) Both (i) and (iii)
e) None of these

Sol :b

Both (i) and (ii)

Manoeuvre: a carefully planned or cunning scheme or action/

Only option ‗1‘ is correct here.

86. AMENDMENT

i. Following a recent amendment, pension benefits under NPS have been allowed for those central
government employees who retire voluntarily.

ii. As we go on through, it will be entirely up to members to move an amendment if they think a

word is out of place or is not understood.

iii. The benefit of retirement gratuity and death gratuity has been amendment to government
employees covered under NPS on the same terms and conditions as are applicable under Central
Civil Services (Pension) Rules, 1972.

45 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

a) Only (i)
b) Only (iii)
c) Both (i) and (ii)
d) Both (ii) and (iii)
e) None of these

Sol: c

Only option ‗3‘ is correct here.

Amendment: a minor change or addition designed to improve a text, piece of legislation, etc. / an
article added to the Constitution./ something which is added to soil in order to improve its texture or
fertility.

Direction:- In each question, four alternatives are given for the Idiom/ Phrase given in bold

in the sentence. Choose the alternative which best expresses the meaning of the Idiom/

Phrase.

87. She rushed into the shopping mall like a bat out of hell and collected many discounted
products.

a) something that will never happen or is impossible

b) someone very precious or dear
c) the opposite of what you imagined
d) to do something even though the circumstances are not ideal
e) very fast and crazily

Sol: e

like a bat out of hell means something happening abruptly

46 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

88. All the participants were green with envy when Johnson was delivering his speech.

a) extremely jealous of another person

b) get motivated by something
c) picking up things well
d) anything that causes discord or jealousy
e) lying openly in front of the others.

Sol:a

Green with envy means being envious.

89. A few more lines at the end of the book would have helped to shed more light on its meaning
to the readers.

a) a boundary beyond which one cannot proceed without consequences

b) something that is done just for the sake of producing an adequate result
c) to explain something in order to make it easier to understand
d) moving around aimlessly often due to disappointments
e) a state of uncertainty where things are ambiguous

Sol:c

Shed more light means to provide unknown information about something in order for people to
have a better understanding of it.

90. The workers know that there are several others who are worse off than them, but that's no cold
comfort .

a) treat somebody with coldness and contempt

b) no comfort or consolation at all
c) very cruel
d) to minimize enthusiasm
e) of no use or useless

Sol: b- Cold comfort means slight or no consolation.

47 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

Direction:- In the following passage, some of the words have been left out, each of which is

indicated by a number. Find the suitable word from the options given against each number

and fill up the blanks with appropriate words to make the paragraph meaningfully complete.

―The future of our economy depends on this lending capacity. And therefore we have to target

ourselves and our policies, the whole (91)__________ has to direct itself in a direction, where we

improve the credit giving ability of our banks, and where we improve the (92) _________ available

as far as our markets are concerned,‖ Jaitley said, adding that this could (93)________ India

towards a higher growth path.

In the last four years, the government announced capital infusion of Rs 70,000 crore and Rs 2.12

lakh crore to improve the capital levels of banks, he said. The government also (94) ________ the

bankruptcy law and amended various loan recovery laws to minimize the NPAs. More efforts are

required in this direction.

―To maintain the (95) ________ of the banking system and help India grow, we need to minimize

our NPAs. Various, multiple options have been exercised, not many (96) _______ results. What is

being experimented today is certainly yielding results, slowly but surely,‖ he said, referring to the

(97)_________ coming through the Insolvency and Bankruptcy Code.

Strength of the banking system has to be improved so that they are able to lend to MSMEs and

Non-Banking Financial Companies. ―The NBFCs today need credit because a large part of lending

is done by them,‖ he said. The finance minister‘s comments come at a time when the government

is (98)_________ with the Reserve Bank of India to ease some of its stricter rules on capital

adequacy to enable banks to grow their loan book. Further taking on (99)_________ of GST

blaming it as the reason for lower growth, Jaitley said the Goods and Services Tax (GST) was a

―(100) ________ reform‖ with a disruptionist impact on growth only for two quarters.

48 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

91. Choose the appropriate word.

a) Arrangement
b) Method
c) System
d) Order
e) Process

Sol: c

The whole system has to direct itself in a direction

92. Choose the appropriate word.

a) Liquidity
b) Exchangeability
c) Fluidity
d) State
e) All of the above

Sol: a

Liquidity in the context means the availability of liquid assets to a market or a company.

93. Choose the appropriate word.

a) Catapult
b) Plunge
c) Plummet
d) Propel
e) Scuttle

Sol: d

Propel – spur or drive into particular situation.

49 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

94. Choose the appropriate word.

a) Repealed

b) Enacted

c) Abrogated

d) Retracted

e) Disavowed

Sol: b

Looking at the words, the words Repealed, Abrogated, Retracted and Disavowed means to deny

any responsibility, but in the sentence a word to support the responsibility is required. Enacted is

the only word with means to make law and put into practice.

95. Choose the appropriate word.

a) Frailty

b) Stoicism

c) Cogency

d) Patience

e) Strength

Sol: e

Strength – the quality or state of being physically strong.

50 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

96. Choose the appropriate word.

a) Relinquished
b) Fetched
c) Yielded
d) Renounced
e) All of these

Sol: c- Yielded- To produce or provide.

97. Choose the appropriate word.

a) Convalesces
b) Rehabilitations
c) Recoveries
d) Ameliorations
e) Recuperations

Sol: c

Recoveries - The action of regaining or securing compensation or money lost or spent by means
of a legal process or subsequent profits.

98. Choose the appropriate word.

a) Engaging
b) Captivating
c) Perpetuating
d) All the above
e) None of these

Sol: a

Engaging - Involve someone in a conversation or discussion.

51 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

99. Choose the appropriate word.

a) Connoisseur

b) Savant

c) Leader

d) Critics

e) Chief

Sol: d

Critics - A person who expresses an unfavorable opinion of something.

100. Choose the appropriate word.

a) Dreadful

b) Monumental

c) Exalted

d) Gleeful

e) Mirthful

Sol:b

Monumental – Great in importance

52 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

Section: Professional Knowledge

101. Who is the regulator of the capital markets?

a) MCA
b) RBI
c) SEBI
d) IRDA
e) PFRDA

Ans. C

The capital markets are regulated by Securities and Exchange Board of India (SEBI). It also
regulates the corporate debt market and the commodity markets.

102. Which of the following gives credit guarantee to the exporters?

a) LIC
b) EXIM bank
c) ECGC
d) EPFO
e) RBI

Ans. C

ECGC Ltd., wholly owned by Government of India, was set up on 30 July, 1957 as Export Credit
Guarantee Corporation of India Ltd. The name was changed to ECGC Ltd from 8 August, 2014

It is a specialized insurance company providing Credit Risk Insurance and related services for
exports.

53 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

103. What is the maximum amount of balance that a customer can have at the end of the
day in a Payments bank?

a) Rs.10,000
b) Rs.50,000
c) Rs.75,000
d) Rs.1,00,000
e) No upper limit

Ans. D

Payment Banks were restricted to hold a maximum balance of Rs.1 lakh per individual customer
at the end of the day.

Kindly note – at the time of the exam, the limit was Rs.1 lakh; however, as of now, this limit
has been enhanced to Rs.2 lakh (since April 2021).

104. What is the minimum net owned funds requirement for Asset reconstruction
companies as per SARFAESI Act?

a) Rs.10 crore
b) Rs.20 crore
c) Rs.50 crore
d) Rs.100 crore
e) Rs.200 crore

Ans. D

An asset reconstruction company is a special type of financial institution that buys the debtors of
the bank at a mutually agreed value and attempts to recover the debts or associated securities by
itself.

The asset reconstruction companies or ARCs are registered under the RBI and regulated under
the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest
Act, 2002 (SARFAESI Act, 2002).

The business of asset reconstruction or securitisation may be commenced only after obtaining a
registration certificate under Section 3 of the SARFAESI Act, 2002. The main requirement in this
regard is that the ‘net owned funds’ as prescribed in the RBI Act should be Rs. 100 crore or
more.

54 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

105. Which of the following is the correct full form of CRILC?

a) Central Repository of Information on Large Credits

b) Central Repository of Institutional Loans and Credits

c) Central Repository of Infrastructure Loans to Corporates

d) Central Reporting of Institutional and Large Credits

e) Central Reporting of Investments and Loans to Corporates

Ans. A

The RBI had set up a Central Repository of Information on Large Credits (CRILC) to collect, store,

and disseminate credit data to lenders. Banks furnish credit information to CRILC on all their

borrowers having aggregate fund-based and non-fund based exposure of Rs.5 crores and above.

Similarly, banks will be required to report, among others, the SMA status of the borrower to the

CRILC.

106. Who, amongst the following, will have preference to get money in case of liquidation
of a company on bankruptcy?

a) Unsecured creditors

b) Employees

c) Preference shareholders

d) Equity shareholders

e) No preference

Ans. B

Priority of claims in liquidation

55 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

insolvency
Secured Creditors Other employees'
resolution process
and workmen dues salaries upto 12 Unsecured creditors
costs and the
upto 24 months months
liquidation costs

Preference other remaining Government Dues

Equity shareholders
shareholders dues and debts upto 2 years

107. What are the different types of loans associated with Mudra Loans?

a) Micro, Small and Medium

b) Shishu, Kishore and Tarun
c) Udyam, Krishi, Shramyogi
d) Kisan Credit Card and interest subsidy loan
e) None of the above

Ans. B

Mudra loans under PMMY can be availed of from a bank, NBFC, MFIs etc. MUDRA created three
products:

 Shishu – Covering loans up to Rs.50,000

 Kishore – Covering loans above Rs.50,000 and up to Rs.5 lakh
 Tarun - Covering loans above Rs.5 lakh and up to Rs.10 lakh

108. The frauds related to GST is to be tackled by Law committee of GST council, this
comes under which ministry?

a) Ministry of Law and Justice

b) Ministry of Home Affairs
c) Ministry of Finance
d) Ministry of Commerce and Industry
e) Ministry of Consumer Affairs

56 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

Ans. C

GST council is a governing body to regulate and direct each and every step for the
implementation of goods and service tax in the nation. The council comes under the Ministry of
Finance and is chaired by the Finance Minister of the country.

109. Recently RBI made it mandatory to link loans with external benchmarking rates.
Which of the following can be used as benchmarking rates?

a) LIBOR
b) Repo Rate
c) Reverse Repo Rate
d) MSF Rate
e) Bank Rate

Ans. B

External benchmark rate means the reference rate which includes:

 Reserve Bank of India policy Repo Rate

 Government of India 3-Months and 6-Months Treasury Bill yields published by Financial
Benchmarks India Private Ltd (FBIL)
 Any other benchmark market interest rate published by FBIL.

110. What is the presentation time of letter of credit, after shipment, as per the UCP 600
Article 14c?

a) 7 days
b) 14 days
c) 21 days
d) 28 days
e) 30 days

Ans. C

57 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

As per the UCP 600 for Letter of Credit (LC), documents must be presented to the confirming or
issuing bank (as the case may be) within the time limits stated in the LC and within 21 calendar
days after the shipment date.

111. A customer with very good relationship with bank goes to bank to avail a loan of
Rs.10 lakh to invest in share market against some Life insurance policy. What should bank
manager do?

a) Approve the loan

b) Reject the Loan
c) Seek additional security
d) Refer to higher authority
e) None of the above

Ans.

112. Person purchased a machinery and wants to make payments in installments, which
kind of guarantee is related with this?

a) Bank Guarantee
b) Performance Guarantee
c) Accrued Guarantee
d) Deferred Payment Guarantee
e) Absolute Guarantee

Ans. D

Deferred Payment Guarantee (DPG) is a guarantee for a payment usually on installments which
has been deferred or postponed. Banks issue DPG in the cases of purchase of capital
goods/machinery where the seller offers credit to the buyer and buyer‘s bank guarantees the due
payments to the seller. Here the seller draws drafts of different maturities on the buyer which are
accepted by the buyer and co-accepted by the Buyer‘s bank. Thereby the buyer‘s bank
guarantees due payment of those drafts drawn by the seller which represents the total
consideration of the contract of sale/supply.

58 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

113. What is the correct full form of SARFAESI Act?

a) Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest

Act
b) Securitisation and Recovery of Financial Assets and Enforcement of Security Interest Act
c) Securitisation and Recovery of Financial Assets and Enforcement of Stakeholders‘ Insolvency
Act
d) Securitisation and Restructuring of Financial Assets and Enforcement of Stakeholders‘
Insolvency Act
e) Securitisation and Restructuring of Financial Assets and Enforcement of Security Interest Act

Ans. A

The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest
Act, 2002 (SARFAESI Act) is an Indian law. It allows banks and other financial institutions to
auction residential or commercial properties of defaulters to recover loans without the
intervention of the judiciary.

114. In August 2020 the RBI increased the LTV , RBI increased the As per recent changes
by RBI what was the permissible LTV for loans against gold jewellery for non-agricultural
purposes to __________.

a) 50%
b) 65%
c) 75%
d) 90%
e) 100%

Ans D- In August 2020, with a view to further mitigate the economic impact of the Covid19
pandemic on households, entrepreneurs and small businesses, it has been decided to increase
the permissible loan to value ratio (LTV) for loans against pledge of gold ornaments and jewellery
for non-agricultural purposes from 75 per cent to 90 per cent. Kindly note - This enhanced LTV
ratio was applicable up to March 31, 2021 to enable the borrowers to tide over their temporary
liquidity mismatches on account of COVID 19. Accordingly, fresh gold loans sanctioned on and
after April 1, 2021 shall attract LTV ratio of 75 per cent.

59 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

115. When a mortgage is created by the borrower in favour of the lender by deposit of title
deed of immovable property as security to a lender until the loan is fully repaid, it is known
as __________

a) Simple mortgage
b) English mortgage
c) Usufructuary mortgage
d) Anomalous mortgage
e) Equitable Mortgage

Ans. E

Equitable mortgage or mortgage by deposit of title deeds, is where a borrower delivers to a lender
or his agent documents of title to immoveable property, with intent to create a security thereon,
the transaction is called mortgage by deposit of title deeds.

116. As per the turnover method of working capital, what is the minimum bank credit that
banks can provide to Small units?

a) 10% of projected turnover

b) 15% of projected turnover
c) 20% of projected turnover
d) 25% of projected turnover
e) 30% of projected turnover

Ans. C

The projected turnover method was originally suggested by the P.J. Nayak Committee for the
Small Scale Industries in India in need of working capital from banks. According to this
method, the working capital requirement of the MSME unit is calculated at 25% of annual
projected turnover to be shared between the borrower and the bank, viz.

 borrower contributing 5% of the turnover as net working capital (NWC) and

 bank providing finance at a minimum of 20% of the turnover.
 Projected turnover may be interpreted as 'Gross Sales' including excise duty.

60 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

117. The RERA came into existence in 2016. What does RERA stand for?

a) Right to Equitable Realty Act

b) Real Estate Regulatory Authority
c) Regulation and Enforcement of Realty Act
d) Real Estate Regulation Act
e) Regulation and Enforcement of Realty estate Authority

Ans. B

RERA stands for Real Estate Regulatory Authority came into existence as per the Real Estate
(Regulation and Development) Act, 2016 which aims to protect the home purchasers and also
boosts the real estate investments. The RERA Act was effective on and from 1 May 2016.

118. Within how many days will the Registrar of Companies register the particulars of the

charge signed by the company and the charge-holder?

a) 10 days

b) 15 days

c) 25 days

d) 30 days

e) 50 days

Ans. D
Section 77 - Duty to register charges, etc.
(1) It shall be the duty of every company creating a charge within or outside India, on its
property or assets or any of its undertakings, whether tangible or otherwise, and situated in or
outside India, to register the particulars of the charge signed by the company and the charge-
holder together with the instruments, if any, creating such charge in such form, on payment of
such fees and in such manner as may be prescribed, with the Registrar within thirty days of its
creation.

61 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

119. Which of the following bank cannot engage in lending activities?

a) Regional Rural Bank

b) Local Area Bank
c) Small Finance Bank
d) Payment Bank
e) None of the above

Ans. D

Payment Banks are differentiated banks that were set up on the recommendation of the Nachiket
committee. The objective of Payment Banks is to increase the penetration level of financial
services to remote areas of the country. They help in widening the spread of Payment and
financial services, especially helping the migrant labor force, low-income households, small
entrepreneurs, etc. and offer payment and remittance services through various channels like
make personal payments and receive cross-border remittances on the current accounts. Payment
banks cannot undertake lending activities.

120. A credit officer should take into account which of the following under Project finance?
a) Economic analysis
b) Industry analysis
c) Financial Analysis
d) Management Analysis
e) All of the above
Ans. E
Project finance is the financing of long-term infrastructure and industrial projects. These are long
term projects and the debt servicing would depend on the future cashflows of the project. As such,
it involves detailed analysis including economic analysis (complete cost benefit of project
including economic, private and social cost and benefit), industry analysis (outlook, opportunities
and challenges associated with the articular industry), financial analysis (financial feasibility of the
project to generate positive cashflows), management analysis (experience, capability and
capacity of promoters in similar projects and willingness to service debt)

62 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

121. The bank extended loan of Rs.20 lakh to XYZ Ltd. The loan was to be repaid in 20
equal monthly instalments of Rs.1 lakh each starting from January 01, 2020. The company
was unable to pay and the account was classified as NPA by the bank on April 01 2020.
Which category of NPA will it be classified as on October 01, 2020?

a) Sub-standard
b) Doubtful1
c) Doubtful 2
d) Doubtful 3
e) Loss

Ans. B

NPA can be classified as sub-standard, doubtful or loss assets.

 An asset would be classified as sub-standard if it remained NPA for a period less than or

equal to 12 months.

 An asset is required to be classified as doubtful, if it has remained NPA for more than 12

months. A loan classified as doubtful has all the weaknesses inherent as that classified as

sub-standard, with the added characteristic that the weaknesses make collection or liquidation

in full, on the basis of currently known facts, conditions and values, highly questionable and

improbable. It is called Doubtful 1 if it remains in doubtful category for upto 1 year, doubtful 2

between 1-3 years and doubtful 3 in case of beyond 3 years.

 A loss asset is one where loss has been identified by the bank or internal or external auditors

or by the Co-operation Department or by the Reserve Bank of India‘s inspection but the

amount has not been written off, wholly or partly. In other words, such an asset is considered

un-collectible and of such little value that its continuance as a bankable asset is not warranted

although there may be some salvage or recovery value.

63 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

122. In the above case, what will be the amount of provision that the bank will have to
create against this loan as of 10 May 2022 and the loan is fully secured?

a) 0
b) Rs.3 lakh
c) Rs.5 lakh
d) Rs.8 Lakh
e) Rs.20 lakh

Ans. D

The loan was declared NPA on 1 April 2020. As of 10 May 2022, it ill be NPA for more than 1 year
and therefore is a doubtful asset. In case of secured portion of loan, the provisioning for doubtful
assets is as follows:

Asset classification Minimum provision

Secured

Up to 1Y 25%
Doubtful
1-3Y 40%
Assets
>3Y 100%

Unsecured 100%

Here the loan is in doubtful category for >1 year but less than 3 years (the loan became doubtful

on 1 April 2021).

As such a provision of 40% will be applied on loan of Rs.20 lakh = 8 lakh.

64 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

123. What is the minimum CRAR for banks as per RBI?

a) 7%
b) 7.5%
c) 8%
d) 9%
e) 12%

Ans. D

The minimum CRAR or capital adequacy ratio stipulated by RBI for the banks is 9% as against
8% stipulated as per BASEL Norms III.

124. What is the mandatory buffer introduced by Basel III norms for the banks over and
above the minimum capital adequacy ratio?

a) Additional Tier I buffer

b) Capital Conservation buffer
c) Countercyclical capital buffer
d) Perpetual buffer
e) Supplementary Capital buffer

Ans. B

Capital Conservation buffer (CCB) is a mandatory buffer introduced under Basel III norms which

has to be maintained over and above the minimum CRAR requirement.

It is mandated at 2.5% of the risk weighted assets of the bank, comprised of Common Equity

Tier I. The CCB is designed to ensure that banks build up capital buffers outside periods of stress

which can be drawn down as losses are incurred.

65 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

125. Banks, excluding RRBs, can raise funds through which of these instruments as per
RBI guideline?

a) Commercial Paper
b) Treasury Bills
c) Certificate of Deposits
d) Cash Management Bills
e) All of the above

Ans. C

Certificates of Deposit (CDs) is a negotiable money market instrument and issued in

dematerialised form or as a Usance Promissory Note, to raise short term funds by bank or other
eligible financial institution.

Kindly note, at the time of this exam, the RRBs were not allowed to raise money through CDs;
however since then, CDs can now be issued by

 scheduled commercial banks, Small Finance Banks and Regional Rural Banks and
 select All-India Financial Institutions that have been permitted by RBI to raise short-term
resources within the umbrella limit fixed by RBI

126. RBI has recently allowed which bank to act as a Merchant Acquiring Bank (MAB)
using Adhaar Pay?

a) Small Finance Banks

b) Local Area Banks
c) Payment banks
d) Regional Rural banks
e) None of the above

Ans. D- In February 2020, to give a fillip to digital banking and enabling regional rural banks
(RRBs) to provide cost effective and user-friendly solutions to their customers, the RBI allowed
RRBs, like other commercial banks, to act as merchant acquiring banks, using Aadhaar Pay –
BHIM app and POS terminals.

66 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

127. Which is of the following is/are used for payments that are operated by NPCI?

a) National Electronic Fund Transfer (NEFT)

b) Real Time Gross Settlement (RTGS)

c) Bharat Interface for Money (BHIM)

d) All of the above

e) None of the above

Ans. C

NEFT and RTGS are operated by RBI.

Under the PSS Act, 2007 NPCI can operate the following payment systems:

1. Immediate Payment System (IMPS)

2. Unified Payment Interface (UPI)

3. Aadhaar Enabled Payments System (AEPS)

4. Bharat Interface for Money (BHIM) App

5. *99# or USSD services

6. National Financial Switch (NFS)

7. Affiliation of RuPay Cards (debit cards/ prepaid cards)

8. National Automatic Clearing House (NACH)

9. Operation of Cheque Truncation System

67 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

128. Which of the below conditions will not place UCBS under SAF (Supervisory Action
Frameworks)?

a) NPA exceeds 6% of its net advances

b) Incurs losses for two consecutive years or has accumulated losses on balance sheet.
c) If CRAR falls below 9%
d) Leverage exceeds >5 times
e) None of the above

Ans. D

As per the Supervisory Action Framework (SAF) for UCBs, A UCB may be placed under SAF on
the breach of the specified thresholds (triggers) in respect of the specified financial
parameters/indicators as follows:

 its Net NPAs exceed 6% of its net advances

 it incurs losses for two consecutive financial years or has accumulated losses on its balance
sheet
 its CRAR falls below 9%

129. What is the maximum numbers of layers of investment companies through which a
company can make investments.

a) 1
b) 2
c) 3
d) 4
e) 5

Ans. B- As per Section 186 of the Companies Act 2013, a Company unless otherwise prescribed,
shall not make investment through more than two layers of investment companies. This
section shall not affect:-

 A company acquiring a foreign Company with more than two layers of investment
subsidiaries;
 A subsidiary company from having an investment subsidiary as required under any
law/rule/regulation.

68 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

130. If a bank and an insurance company make an agreement to sell the insurance
products through banks to their customers, it is known as _________

a) Mutual insurance
b) Bank-insurance
c) Micro insurance
d) Bancassurance
e) ULIP (Unit lending and insurance product)

Ans. D

Bancassurance is a French expression which refers to the distribution of insurance products (both
life and non-life) through a bank's established distribution channels. The concept of
Bancassurance originated in France in 1980‘s and soon became a success in other European
countries.

In India, Bancassurance & Alternate Channel was started in the year 2001 after RBI allowed
banks to sell other financial products like Insurance and Mutual Funds.

131. As per the budget 2020, the goal of making Indian farmers income double by which
year?

a) 2021
b) 2022
c) 2023
d) 2024
e) 2025

Ans. B

The government had announced in 2016 that by the time India celebrated its 75th Independence
Day in 2022, its farmers‘ income would have doubled.

69 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

132. If a foreign bank deposits money in any of the Indian bank in Indian currency, which
type of account will it be for the foreign bank?

a) Vostro account

b) Nostro Account

c) Loro Account

d) Forex Account

e) NRO Account

Ans. B

Nostro Account refers to ―our account with you‖. It is an account that a bank holds in a foreign
currency in another bank in the foreign country. For the foreign bank, Indian currency is the
foreign currency which it is holding in a foreign country (i.e. India in this case).

133. If you purchase an i-phone through securing a loan from a bank, what type of loan it
is?

a) Term Loan

b) Overdraft

c) Cash credit

d) Revolving loan

e) All of the above

Ans. A

A term loan is a loan from a bank for a specific amount that has a specified repayment schedule
and a fixed or floating interest rate

70 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

134. In light of COVID-19, RBI has allowed a moratorium for how many months to

borrowers from March 01, 2020?

a) 2 months

b) 3 months

c) 4 months

d) 6 months

e) 8 months

Ans. D

In March 2020, RBI had announced certain regulatory measures to mitigate the burden of debt
servicing brought about by disruptions on account of COVID-19 pandemic and to ensure the
continuity of viable businesses.

This included moratorium on repayment of loan and interest from March 1, 2020 to Auguts 31,
2020, for a period of 6 months.

135. A person having a monthly income of 60000/-, where he can save 30000/- for repaying

any kind of loan. Then what would be the maximum permissible loan to employee if his

employment is left for 25 years on 6% interest rate? Given the PV interest factor is 155.21

a) 30.6 lakh

b) 102 lakh

c) 57.8 lakh

d) 46.5 lakh

e) 93.1 lakh

Ans. D

71 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

Here the Present value of an annuity can be used to calculate the loan amount

P = PMT * [1 – [ (1 / (1+r)^n] / r]

The [1 – [ (1 / (1+r)^n] / r] is the PVIF as 155.21.

As such the loan = 30000*155.21 = Rs.46.5 lakh approximately.

Use the following information for the next 2 questions (Q35 and 36)

RCB Ltd has to maintain a current ratio of 2 as per the loan covenant. As the year approaches
ending, its current assets are Rs2,000,000 (Rs.100,000 in cash , Rs.900,000 in accounts
receivables, Rs.1000,000 in inventory)and current liabilities are Rs.1080,000.

136. What is the current ratio of the firm at present?

a) 2

b) 1.85

c) 2.8

d) 1.9

e) None of the above

Sol- b

Current Ratio (CR) = Current Assets/ Current Liabilities

As such CR at present is = 2000000/1080000

= 1.85

72 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

137. What is the quick ratio of the RCB Ltd?

a) 1.85

b) 2

c) 0.93

d) 0.83

e) 1.9

Ans-c

Quick ratio = Quick assets (cash plus accounts receivable) / current liabilities

= (100000+900000)/1080000

=0.9259~0.93

138. A company sells its product at Rs. 9 per unit. The variable cost of the product is Rs.5
per unit while the fixed overhead absorption rate is Rs.1.5 per unit. What will be the break
even point if the budgeted units are 1,00,000 and the fixed overhead expenditure variance
is 0?

a) 40,000 units
b) 25,000 units
c) 30,000 units
d) 37,500 units
e) 13500 units
Answer D
Break Even = Fixed Cost/ Contribution per unit
Fixed cost = overhead absorption rate * budgeted units = 1.5 * 100,000 = 150,000; since there is
no variance, the fixed cost will be Rs.150,000.
Contribution = selling price – variable cost = 9-5 = Rs.4 per unit
Therefore, Break even point = 150000/4 = 37500 units

73 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

139. If the cost of machinery is Rs.5 lakh, the life of the machinery is expected to be 5
years, and rate of depreciation is 10%, what will be the difference between the amount of
depreciation in straight line method and written down value method in first year?

a) Rs.100,000
b) Rs.90,000
c) Rs.50,000
d) Rs.10,000
e) No difference

Ans. C

The depreciation in Year 1 as per:

Straight Line method (SLM) = cost of machinery/life of machinery

= 500000/5 = Rs.100000 per year

Written down Value (WDV) = cost of machinery*rate of depreciation

= 500000*10% = Rs.50,000 per year

So the difference between the 2 methods = 100,000-50,000 = Rs.50,000

140. ABC Ltd reported earnings before interest and taxes as Rs.1.2 lakh. Half of this is paid

in interest. If the company has repayment obligation of Rs.40000 this year, what is its

DSCR?

a) 3 times
b) 2 times
c) 1.5 times
d) 1.2 times
e) 0.8 times

Ans. D

74 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

DSCR = Net Operating profit/interest + repayment obligations

Net Operating profit here is given by EBIT = 120,000

Interest = half of EBIT = Rs.60000

Repayment = Rs.40000

DSCR = 120,000/(60000+40000) = 1.2 times.

141. What is the prospectus used to raise money in an IPO in which the price of the IPO is
not disclosed?

a) Draft Prospectus
b) Letter of Intent
c) Red Herring Prospectus
d) Abridged prospectus
e) Shelf Prospectus

Ans. C

A Red herring prospectus is one in which details related to either price or quantity or both are not
disclosed at the time of opening of the IPO.

142. Which of the following statement is not true regarding T-Bills in India?

a) T-bills are government debt securities with maturity of less than one year

b) T-bills are zero-coupon securities and do not pay interest

c) T-bills are issued at discount and redeemed at face value

d) T-bills are auctioned by SEBI

e) None of the above

Ans. D

75 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

 Treasury bills (T-Bills) are short term (less than 1 year maturity) government debt securities
that are auctioned by the RBI on behalf of Govt.
 Presently issued in three tenors, namely, 91 day, 182 day and 364 day
 T-bills are in nature of zero coupon securities i.e. do not pay interest but are issued at a
discount and redeemed at the face value at maturity, leading to the implied
interest/return/yield (difference of Face Value and Issue price as a percentage of Issue price).

143. In the Statement for Profit and Loss, the audit fees paid by the company will be shown
under which of the following category?

a) Finance expense
b) Employee benefit expense
c) Administrative Expense
d) Selling & Distribution Expense
e) Any of the above
Ans. C
Administrative expenses are the cost related to general day-to-day administration of the business.
Examples include insurance, postage, printing & stationery etc.

144. Which of the following correctly describes a 'balloon payment'?

a) A promise of payment not necessary executed at that time

b) A payment with inflated interest due to late payment
c) A large payment due at the end of a loan
d) A small payment made out of the total inflated debt
e) None of these
Ans: C
A balloon payment is a large payment due at the end of a balloon loan, such as a mortgage,
commercial loan or other amortized loan. A balloon loan typically features a relatively short term,
and only a portion of the loan's principal balance is amortized over the term. At the end of the
term, the remaining balance is due as a final repayment.

76 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

145. DuPont Analysis deals with:

a) Analysis of Current Assets

b) Analysis of Profit

c) Capital Budgeting

d) Analysis of Fixed Assets

e) Analysis of Leverage

Ans. B
Dupont analysis helps to identify the source of a company‘s return. It gives an expanded form of
the RoE of the company by breaking down the RoE into three ratios related to profitability (net
profit margin), operational efficiency (total asset turnover) and financial leverage (equity
multiplier). Thus its helpful in analyzing the reason for the profitability of a company. As per
dupont analysis,
RoE = Net profit margin * asset turnover * financial leverage

146. Richa made sales of of 70,000 units. She discovered that Fixed costs of the business
are close to Rs. 200,000 per year and the contribution margin is Rs. 160 per unit. Sales
price per unit is Rs. 890. The margin of safety will be _______

a) 1,250

b) 7,000

c) 6,775

d) 6,875

e) 68,750

Solution: (e)
Breakeven point = fixed cost / contribution = 200,000 /160 = 1,250
Margin of Safety = Actual sales – breakeven sales = 70,000 – 1,250 = 68,750.

77 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

147. Which of the following is a specially designed card for farmers to provide them timely
credit for meeting the short term agricultural expenses like cultivation of cropss?

a) Kisan Credit Crad

b) Krishi Credit Card
c) Katai Credit Card
d) Kheti Credit Card
e) None of the above

Ans. A

The Kisan Credit Card scheme is a Government of India scheme which provides farmers with
timely access to credit. The Kisan Credit Card (KCC) scheme was launched in 1998 with the aim
of providing short-term formal credit to farmers and was created by NABARD (National Bank for
Agriculture and Rural Development).

The KCC scheme was introduced to ensure that the credit requirements for farmers in the
agriculture, fisheries and animal husbandry sector were being met. This was done by helping
them avail short-term loans and provide them with a credit limit to purchase equipment and for
their other expenses as well.

Moreover, with the help of KCC, farmers are exempt from the high interest rates of the regular
loans offered by banks as the interest rate for KCC are lower. With the help of this scheme,
farmers can repay their loans depending on the harvesting period of their crop for which the loan
was given.

148. Which among the following financial statement reflects the resources that the
organisation owns on a given date?

a) Balance Sheet
b) Fund Flow Statements
c) Cash Flow Statements
d) Income Statement
e) All of the above

78 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)
Bank of India Credit Officer 2020 Memory Based Paper

Ans. A

Balance Sheet is the statement that shows the resources that a company owns and the
obligations that the company owes. It is the summary of the assets and the liabilities of a
company on a particular date.

149. Consortium lending is when __________

a) Several banks finance a single borrower

b) Several banks finance multiple projects in same industry
c) Single bank finances inter-related projects of a borrower
d) Single bank finances inter-related projects of multiple borrowers
e) None of the above

Ans. A

In consortium lending system, two or more lenders join together to finance a single borrower.
The lending banks formally join together, by way of an inter-se agreement to meet the credit
needs of a borrower.

150. In case of a car loan, the bank creates a ____ over the asset.

a) Pledge
b) Lien
c) Mortgage
d) A or B
e) All of the above

Ans. B

Bank lien is the lien which is often granted when the individual takes a loan from a bank to
purchase a movable asset. For instance, you borrow a loan from a bank to buy yourself a car. The
price of the car will be paid by the loan amount. This gives the bank the legal right to grant lien on
the car

79 ixamBee Offers Online Course for Preparation For SBI, IBPS,RBI, NABARD exam
For Free Demo, visit [Link] or Contact us at 9205524028 (SMS/WhatsApp/call)