1. Sample Text 1
Monetary Policy Committee was recommended by Urjit Patel committee. The Monetary Policy Committee (MPC) is a committee of the central bank – Reserve Bank of India, headed by its Governor. It was set up by amending the RBI Act after the government and RBI agreed to task RBI with the responsibility for price stability and inflation targeting. The RBI and the government signed the Monetary Policy Framework Agreement on February 20, 2015. The MPC is entrusted with the task of fixing the benchmark policy interest rate (repo rate) to contain inflation within the target level. The government may, if it considers necessary, convey its views, in writing, to the MPC from time to time. RBI is mandated to furnish necessary information to the MPC to facilitate their decision making.
According to the government, the MPC will have six members. Three each will be nominated by the government and the RBI and each member will have one vote. While the majority voice of the committee will be final in deciding the interest rates and the RBI will have to accept the verdict, the governor gets a casting vote in case of tie.
Q. Consider the following statements with respect to Monetary Policy Committee (MPC): Which of the statements given below is/are correct?
A. The Committee aims at reducing friction between the government and the central bank.
B. MPC will set policy interest rate considering the inflation target.
C. It was recommended by Nachiket Mor Committee.
D. MPC will be given some information by government and RBI.
Show Answer 2. Sample Text 2 Small, localized enterprises are becoming ever-more imaginative in identifying opportunities to boost tourism for their areas. A more unusual attraction is the Old Man of the Lake, which the name is given to a 9-meter-tall tree stump that has been bobbing vertically in Oregon’s Crater Lake since at least 1896. For over one hundred years, it has been largely ignored but recently it has become a must-see item on the list of lake attractions. Since January 2012, tour boats regularly include the Old Man on their sightseeing trips around the lake. At the waterline, the stump is about 60 centimeters in diameter, and the exposed part stands approximately 120 centimeters above the surface of the water. Over the years, the stump has been bleached white by the elements. The exposed end of the floating tree is splintered and worn but wide and buoyant enough to support a person’s weight. Crater Lake travels quite extensively, and sometimes with surprising rapidity. Since it can be seen virtually anywhere on the lake, boat pilots commonly communicate its position to each other as a general matter of safety. Q.Which of the following are true of the Old Man of the lake according to the passage? A. It has been a tourist attraction for decades. Show Answer 3. Sample Text 3 Forces other than damaging winds are also at work inside tornadoes. Sometimes, as the writhing, twisting funnel passes over a house, the walls and ceiling burst apart as if a bomb had gone off inside. This explosion is caused by the low air pressure at the center of a tornado. The pressure at the center of a tornado is usually 13 pounds per square inch. However, inside the house, the air pressure is normal, about 15 pounds per square inch. The difference of 2 pounds per square inch between the inside and outside pressure may not seem like much. But suppose a tornado funnel passes over a small building that measures 20 by 10 by 10 feet. On each square inch of the building, there is 2 pounds of pressure from the inside that is not balanced by air pressure outside the building. On the ceiling, that adds up to an unbalanced pressure of 57, 600 pounds. The pressure on the four walls adds up to 172,800 pounds. If windows are open in the building, some of the inside air will rush out through them. This will balance the pressure inside and outside the building. But if the windows are shut tightly, the enormous inside pressure may cause the building to burst. Unfortunately, heavy rain and hail often occur in thunderstorms that later produce tornadoes. So people frequently shut all windows to protect their property. This may cause far worse damage later. For the same reason, tornado cellars must have an air vent. Otherwise, the cellar door might be blown out when a tornado passes over it. Q.Which of the following statements cannot be supported by the information given in the passage? A. The difference per square inch between the air pressure inside a building and the air pressure inside a tornado is of 2 pounds. Show Answer
B. It is a drifting piece of wood.
C. It is close to the edge of Crater lake.
D. It is owned by a local businessman.
E. It can quickly move about the lake.
F. It can be a danger to boat users.
G. It is too small for someone to stand on.
B. According to passage, Tornadoes can destroy building because the air pressure inside the tornado is less than the air pressure inside the building.
C. The pressure on a building during a tornado can be relieved by closing the cellar.
D. The passage talks about as how tornadoes can be prevented.