English Language Quiz For Indian Bank PO Mains:25th October

Directions (1- 5): Read the following passage carefully and answer the questions given below them. 

The Right to Information (RTI) Act, operationalised in October 2005, was seen as a powerful tool for citizen empowerment. It showed an early promise by exposing wrongdoings at high places, such as in the organisation of the Commonwealth Games, and the allocation of 2G spectrum and coal blocks. However, it now faces multiple challenges. The Act, path-breaking in many respects, did not give adequate authority to the Information Commissions to enforce their decisions. Besides awarding compensation to an applicant for any loss suffered, the commissions can direct public authorities to take the steps necessary to comply with the Act, but are helpless if such directions are ignored. True, if an officer fails to fulfil his duty, the commission can either impose a maximum penalty of ₹25,000 or recommend disciplinary action against him. However, this deterrent works only when the piece of information lies at the lower levels; it is ineffective in many cases where information relates to higher levels of government. Implementation of decisions taken by the commissions, therefore, remains a weak link.

The recently proposed amendments to the Act would, instead of strengthening the hands of commissions, weaken them. The government proposes to do away with the equivalence of the Central Information Commissioners with the Election Commissioners on the ground that the two have different mandates. The underlying assumption that transparency is less important for a democracy than holding of free and fair elections is preposterous. The government also proposes to replace the existing fixed five-year tenure of the Information Commissioners with a tenure as may be prescribed by it. This would make the tenure……………………………………………………… This would be detrimental to the independence and authority of the Information Commissions. The Act struck a balance between privacy and transparency by barring the disclosure of personal information if it has no relationship to any public activity or would cause unwarranted invasion of privacy. However, the Justice Srikrishna Committee has proposed an amendment that would broaden the definition of ‘harm’, restricting disclosure of personal information even where it may be clearly linked to some public activity.

The Central and State Information Commissions have been functioning with less than their prescribed maximum strength of eleven because governments have dragged their feet on appointing commissioners. For instance, the Central Information Commission (CIC), currently having seven members, will have only three by the end of the year if no appointments are made. This leads to delay in disposal of cases, which is compounded by the backlog in the High Courts, where a number of decisions of the commission are challenged. This happens invariably in cases concerning the high and the mighty. For example, the CIC’s decision in 2007 to cover Indraprastha Gas Ltd. under the Act was stayed by the Delhi High Court, and the stay continues to operate.

The clogging of the RTI system is also because a number of applicants, usually disgruntled employees of public institutions, ask frivolous queries. Their applications have unfortunately continued to exist alongside those of numerous RTI activists who have done commendable work, often risking their life and limb. Further, Section 4 of the RTI Act requires suo motu disclosure of a lot of information by each public authority. However, such disclosures have remained less than satisfactory. Thus, the CIC has had to repeatedly direct regulators of the banking sector to disclose information on the wrongdoings of banks, so as to enable the public to make informed choices about their dealings with various banks.

In one case, the CIC had to direct the disclosure of the list of private persons who travelled with the Prime Minister, at government expense, during his foreign visits. Such information should have been disclosed suo motu by the government.The RTI Act continues to render yeoman service in providing information to citizens. Though its aim is not to create a grievance redressal mechanism, the notices from Information Commissions often spur the public authorities to redress grievances. Thirteen years of the Act’s functioning have given us enough experience to hold a public debate on making it more effective. However, if the issues listed above are not addressed, this sunshine law will lose its promise, particularly in terms of ensuring transparency at higher levels of governance. 

Q1. Which of the following are the instances that signify that RTI was seen as a powerful tool for citizen empowerment? 

(I) It exposed the wrong doings in places such as organisation of Commonwealth Games. 

(II) RTI revealed malpractices in places such as allocation of 2G spectrum and coal blocks. 

(III) It was due to RTI that paved way for intense fraudulent activities in places such as the organisation of the Commonwealth Games, and the allocation of 2G spectrum and coal blocks.

Q2. Which of the following is the best inference from the passage above?

Q3. In the passage above, a blank is given in the second passage. Which of the following can be the most appropriate choice to be filled into the blank which will make the passage contextually coherent and meaningful?

Q4. What are the proposed amendments into the present RTI act?

Q5. Which of the following statements are correct in context with the passage? 

(I) In its rationale for the amendments, the Centre has maintained that unlike the EC, Information Commissions are not constitutional bodies but mere statutory creations under the law. 

(II) Since fines are rarely imposed, officers give incomplete, vague or unconnected information to applicants with impunity. 

(III) The clogging of the RTI system is also because a number of applicants, usually disgruntled employees of public institutions, ask frivolous queries.

Q6. Which of the following can be the most appropriate title for the passage above?

Q7. Choose the word which is MOST SIMILAR to the word given in passage. PREPOSTEROUS
(a) Realistic
(b) Solemn
(c) Credible
(d) Absurd

(e) Both (b) and (d)

Q8. Choose the word which is MOST OPPOSITE to the following word given in bold in the passage. DETERRENT

Direction (9-15): Given below is a paragraph consisting of blanks. Identify the correct option among the five alternative pairs that could fill the blank against the number to make the paragraph contextually meaningful and grammatically correct. 

Q9. The default of Infrastructure Leasing & Financial Services (IL&FS) on several of its debt obligations over the last couple of months has …………(9)………… serious questions about how regulators missed the growing debt …….(10)………. of a systemically important financial institution. But apart from the obvious failure of regulators to do their jobs, the IL&FS saga has also exposed the ………(11)………… weaknesses in the non-banking financial company (NBFC) sector as a whole which has depended heavily on low-cost, short-term debt financing to sustain its …….(12)…….. business model. As both international and domestic interest rates continue to rise, the stocks of NBFCs have been punished as investors …….(13)……… the profit margins of these companies to come under pressure as their borrowing costs rise. Then there is the further, and more serious, risk of NBFCs being unable to roll over their short-term debt in case of a severe credit …….(14)……… in the aftermath of the IL&FS saga. Both these factors have combined to put an end to the dream run of NBFCs, which have enjoyed high valuations amidst rapidly growing profits over the last few years. The precipitous crash of shares of Dewan Housing Finance Ltd. has been the defining moment of the present crisis. It is worth noting that the rise of NBFCs was fuelled primarily by the demise of traditional banks which have been unable to lend as they were ………(15)……….. by non-performing loans. Meanwhile, NBFCs with strong pricing power, which can somehow successfully achieve the transfer of higher borrowing rates to their own borrowers, may still survive rising interest rates.

Q10. The default of Infrastructure Leasing & Financial Services (IL&FS) on several of its debt obligations over the last couple of months has …………(9)………… serious questions about how regulators missed the growing debt …….(10)………. of a systemically important financial institution. But apart from the obvious failure of regulators to do their jobs, the IL&FS saga has also exposed the ………(11)………… weaknesses in the non-banking financial company (NBFC) sector as a whole which has depended heavily on low-cost, short-term debt financing to sustain its …….(12)…….. business model. As both international and domestic interest rates continue to rise, the stocks of NBFCs have been punished as investors …….(13)……… the profit margins of these companies to come under pressure as their borrowing costs rise. Then there is the further, and more serious, risk of NBFCs being unable to roll over their short-term debt in case of a severe credit …….(14)……… in the aftermath of the IL&FS saga. Both these factors have combined to put an end to the dream run of NBFCs, which have enjoyed high valuations amidst rapidly growing profits over the last few years. The precipitous crash of shares of Dewan Housing Finance Ltd. has been the defining moment of the present crisis. It is worth noting that the rise of NBFCs was fuelled primarily by the demise of traditional banks which have been unable to lend as they were ………(15)……….. by non-performing loans. Meanwhile, NBFCs with strong pricing power, which can somehow successfully achieve the transfer of higher borrowing rates to their own borrowers, may still survive rising interest rates.

Q11. The default of Infrastructure Leasing & Financial Services (IL&FS) on several of its debt obligations over the last couple of months has …………(9)………… serious questions about how regulators missed the growing debt …….(10)………. of a systemically important financial institution. But apart from the obvious failure of regulators to do their jobs, the IL&FS saga has also exposed the ………(11)………… weaknesses in the non-banking financial company (NBFC) sector as a whole which has depended heavily on low-cost, short-term debt financing to sustain its …….(12)…….. business model. As both international and domestic interest rates continue to rise, the stocks of NBFCs have been punished as investors …….(13)……… the profit margins of these companies to come under pressure as their borrowing costs rise. Then there is the further, and more serious, risk of NBFCs being unable to roll over their short-term debt in case of a severe credit …….(14)……… in the aftermath of the IL&FS saga. Both these factors have combined to put an end to the dream run of NBFCs, which have enjoyed high valuations amidst rapidly growing profits over the last few years. The precipitous crash of shares of Dewan Housing Finance Ltd. has been the defining moment of the present crisis. It is worth noting that the rise of NBFCs was fuelled primarily by the demise of traditional banks which have been unable to lend as they were ………(15)……….. by non-performing loans. Meanwhile, NBFCs with strong pricing power, which can somehow successfully achieve the transfer of higher borrowing rates to their own borrowers, may still survive rising interest rates.

Q12. The default of Infrastructure Leasing & Financial Services (IL&FS) on several of its debt obligations over the last couple of months has …………(9)………… serious questions about how regulators missed the growing debt …….(10)………. of a systemically important financial institution. But apart from the obvious failure of regulators to do their jobs, the IL&FS saga has also exposed the ………(11)………… weaknesses in the non-banking financial company (NBFC) sector as a whole which has depended heavily on low-cost, short-term debt financing to sustain its …….(12)…….. business model. As both international and domestic interest rates continue to rise, the stocks of NBFCs have been punished as investors …….(13)……… the profit margins of these companies to come under pressure as their borrowing costs rise. Then there is the further, and more serious, risk of NBFCs being unable to roll over their short-term debt in case of a severe credit …….(14)……… in the aftermath of the IL&FS saga. Both these factors have combined to put an end to the dream run of NBFCs, which have enjoyed high valuations amidst rapidly growing profits over the last few years. The precipitous crash of shares of Dewan Housing Finance Ltd. has been the defining moment of the present crisis. It is worth noting that the rise of NBFCs was fuelled primarily by the demise of traditional banks which have been unable to lend as they were ………(15)……….. by non-performing loans. Meanwhile, NBFCs with strong pricing power, which can somehow successfully achieve the transfer of higher borrowing rates to their own borrowers, may still survive rising interest rates.

Q13. The default of Infrastructure Leasing & Financial Services (IL&FS) on several of its debt obligations over the last couple of months has …………(9)………… serious questions about how regulators missed the growing debt …….(10)………. of a systemically important financial institution. But apart from the obvious failure of regulators to do their jobs, the IL&FS saga has also exposed the ………(11)………… weaknesses in the non-banking financial company (NBFC) sector as a whole which has depended heavily on low-cost, short-term debt financing to sustain its …….(12)…….. business model. As both international and domestic interest rates continue to rise, the stocks of NBFCs have been punished as investors …….(13)……… the profit margins of these companies to come under pressure as their borrowing costs rise. Then there is the further, and more serious, risk of NBFCs being unable to roll over their short-term debt in case of a severe credit …….(14)……… in the aftermath of the IL&FS saga. Both these factors have combined to put an end to the dream run of NBFCs, which have enjoyed high valuations amidst rapidly growing profits over the last few years. The precipitous crash of shares of Dewan Housing Finance Ltd. has been the defining moment of the present crisis. It is worth noting that the rise of NBFCs was fuelled primarily by the demise of traditional banks which have been unable to lend as they were ………(15)……….. by non-performing loans. Meanwhile, NBFCs with strong pricing power, which can somehow successfully achieve the transfer of higher borrowing rates to their own borrowers, may still survive rising interest rates.

Q14. The default of Infrastructure Leasing & Financial Services (IL&FS) on several of its debt obligations over the last couple of months has …………(9)………… serious questions about how regulators missed the growing debt …….(10)………. of a systemically important financial institution. But apart from the obvious failure of regulators to do their jobs, the IL&FS saga has also exposed the ………(11)………… weaknesses in the non-banking financial company (NBFC) sector as a whole which has depended heavily on low-cost, short-term debt financing to sustain its …….(12)…….. business model. As both international and domestic interest rates continue to rise, the stocks of NBFCs have been punished as investors …….(13)……… the profit margins of these companies to come under pressure as their borrowing costs rise. Then there is the further, and more serious, risk of NBFCs being unable to roll over their short-term debt in case of a severe credit …….(14)……… in the aftermath of the IL&FS saga. Both these factors have combined to put an end to the dream run of NBFCs, which have enjoyed high valuations amidst rapidly growing profits over the last few years. The precipitous crash of shares of Dewan Housing Finance Ltd. has been the defining moment of the present crisis. It is worth noting that the rise of NBFCs was fuelled primarily by the demise of traditional banks which have been unable to lend as they were ………(15)……….. by non-performing loans. Meanwhile, NBFCs with strong pricing power, which can somehow successfully achieve the transfer of higher borrowing rates to their own borrowers, may still survive rising interest rates.

Q15. The default of Infrastructure Leasing & Financial Services (IL&FS) on several of its debt obligations over the last couple of months has …………(9)………… serious questions about how regulators missed the growing debt …….(10)………. of a systemically important financial institution. But apart from the obvious failure of regulators to do their jobs, the IL&FS saga has also exposed the ………(11)………… weaknesses in the non-banking financial company (NBFC) sector as a whole which has depended heavily on low-cost, short-term debt financing to sustain its …….(12)…….. business model. As both international and domestic interest rates continue to rise, the stocks of NBFCs have been punished as investors …….(13)……… the profit margins of these companies to come under pressure as their borrowing costs rise. Then there is the further, and more serious, risk of NBFCs being unable to roll over their short-term debt in case of a severe credit …….(14)……… in the aftermath of the IL&FS saga. Both these factors have combined to put an end to the dream run of NBFCs, which have enjoyed high valuations amidst rapidly growing profits over the last few years. The precipitous crash of shares of Dewan Housing Finance Ltd. has been the defining moment of the present crisis. It is worth noting that the rise of NBFCs was fuelled primarily by the demise of traditional banks which have been unable to lend as they were ………(15)……….. by non-performing loans. Meanwhile, NBFCs with strong pricing power, which can somehow successfully achieve the transfer of higher borrowing rates to their own borrowers, may still survive rising interest rates.