Practice Reading Comprehension from "The Hindu" Editorial (Dated- 15th Nov 2016)

Practice Reading Comprehension from "The Hindu" Editorial (Dated- 15th Nov 2016)
Dear Readers, we have given here the English Practice Questions for upcoming IBPS PO/ RRB/ Clerk Exam 2016 from “THE HINDU” Editorial Page. Candidates can use this material for their preparations.

Reading Comprehension Based on “The Hindu Editorial” (Dated- 15th Nov 2016)

          The long, anxious, and frustrating wait by people outside banks and ATMs across the country over the last five days is an inevitable consequence of the decision to demonetise notes of Rs.500 and Rs.1,000. When 86 per cent of the value of notes in circulation turns suddenly invalid, as it did with Prime Minister Modi’s ‘surgical strike’ last week, a certain degree of disruption and pain is unavoidable. But the question is whether this chaos could have been anticipated and managed better than it has been. Replacement of the demonetised notes is a time-consuming exercise that requires planning of the highest order. The experience of the last few days shows that preparation was lacking and the transition could have been handled much better. ATMs are running out of cash quickly while banks are dispensing more of the Rs.2,000 notes than those of lower denominations. What use is a high-value note if there is not enough smaller currency to make an exchange? Of course, it was never an easy task for the Reserve Bank of India and the Centre to strike the right balance between secrecy and storing adequate quantity of notes for quick distribution. All the same, there are at least a couple of issues that could have been addressed differently.
          The new Rs.500 notes that hit the market on Monday could have been released immediately after the announcement last week. Putting out new Rs.500 notes along the Rs.2,000 notes would have placed much less strain on those of the Rs.100 denomination, which are anyway in short supply. Second, it appears that officials woke up a little late to the issue of recalibrating ATMs. At least a day, if not more, was lost as banks realised the ATMs would not be able to dispense the new notes. The communication with the public, who were in a state of panic, could have been better, too. Thankfully, the Centre has woken up to ease the pressure on the system by increasing withdrawal limits, allowing for petroleum outlets and hospitals to accept the old series of notes until November 24 and pushing more cash through post offices. The worst-affected are people in rural areas and villages where cash is king and the banking system’s penetration is poor. The decision to relax cash-holding limits for banking correspondents, the crucial link between banks and villages, to Rs.50,000 and allowing them to replenish multiple times a day should help in faster distribution. This ought to have been done much earlier. The cash crunch of the last few days is certain to have an adverse impact on consumption spending, especially in the rural areas, with the resultant effect on the economy in the third quarter.

1). Why the villagers and rural people were considered as a most affected category on government's demonetisation decision?
a)   As most of the people in villages and rural areas were illiterate and they were unaware of the procedures.
b)   As most of the people in villages and rural areas were working for daily wages and there will be no money for their money circulation
c)   As most of the villages and rural area people's account deposit is limited to 50,000 only.
d)   As most of the people in villages and rural areas were unaware of banking process and also their earnings is well sufficient only for their money liquidity .
e)   None of the above.
2).  What has been seen as a tough task for RBI and Central Government from the above passage in implementing Demonetisation on 500 & 1000 rupee and introducing 2000 rupee currency? 
a)   Distribution of new denomination 2000 and 500 rupee currency to rural area and village people.
b)   Maintaining secrecy and preparing of enough and equivalent alternate currency well in advance before announcing the decision.
c)   Maintaining secrecy on decision and Making technical changes in ATM machines to hold new 2000 rupee cash.
d)   Further step of handling banned 500 and 1000 rupee currency.
e)   None of the above.

3). What does phrase ‘surgical strike’ refers to in the above passage?
a)   A process followed in bank for exchanging new currency to the older one.
b)   Introducing of higher denomination currency than the existing one.
c)   Modi's decision on demonetisation of 500 and 1000 Rupees currency.
d)   A tactical decision taken against currency denomination on the benefit of country's economical growth.
e)   None of the above.

4). What does the above passage actually discusses about?
a)   The process of banning existing currency and announcing new currency.
b)   Process , problems and action taken against problems about demonetisation.
c)   Problems faced against banning of existing higher denomination currency.
d)   Actions to be done before making decision on banning of existing higher denomination currency
e)   All the above.

5). What will be a suitable title for above passage?
a)   Introducing the new Denomination
b)   The problems caused by Demonetisation
c)   PM's Surgical Strike
d)   Impact of Indian Economy on Demonetisation
e)   Demonetisation and after

6). From the above Passage which of the following is not a decision that has been taken against the problems caused by demonetisation?
a)   Allowing to accept old 500 and 1000 rupee currencies in petrol pumps and Hospitals.
b)   Making post office as a money deposit and exchange centre.
c)   Increasing the limit range of maximum cash holdings per account.
d)   Increasing per day limit on withdrawal of cashes from ATMs of rupees 2000 to 2500
e)   None of the above

7). Which of the following suggestion(s) is said in the above passage that has to be taken into account before announcing  the decision on demonetisation of 500 and 1000 rupee?
(i) The 500 rupee currency has to be prepared well before.
(ii) Announcing every people should open their personal Account.
(iii) Technical changes in ATMs for holding 2000 rupee cashes has to be done.
(iv) Giving some enough time for people to prepare for it. before making the announcement as legal.
a)   Both ii and iii
b)   Only i, ii and iii
c)   Only i and iii
d)   Only iii and iv
e)   None of the above

8). Which of the following will be the suitable word to replace "replenish" in the above passage?
a)   refill
b)   salvage
c)   access
d)   withdraw
e)   exploit

9). Antonyms for "inevitable "
a)   Acceptable
b)   unavoidable
c)   encourage able
d)   surprising
e)   None of the above

10). What is the Synonym for "anticipated "?
a)   Unlikely
b)   Predicted
c)   discussed
d)   avoided
e)   None of these

1) d  2) b  3) c  4) b 5) e  6) d  7) c  8) a  9) e [Avoidable]  10) b


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