EASY
IBPS Clerk Prelims
IMPORTANT
Earn 100
Read the following passage carefully and answer the question given below it. Certain words have been printed in bold to help you locate them while answering the question.
Every afternoon, on their way back from school, the children used to go and play in the Giant's garden. It was a large lovely garden, with soft green grass. Over the grass stood beautiful flowers like stars, and there were twelve peach-trees that bore rich fruit. The birds would sit on the trees and sing sweetly to the children playing below. One day the Giant came back. He had been on a long tour and was now determined to return to his own castle. When he arrived he saw the children playing in the garden and was outrageous. "What are you doing here?" He shouted in a very gruff voice, and the children ran away. "I will not allow anybody to play in my garden but myself" said the Giant. And so, he built a high wall around it, and put up a notice-board that read trespassers will be prosecuted. He was a very selfish Giant. The poor children had now, nowhere to play. They tried to play on the road, but the road was very dusty and full of stones, and they did not like it. On their way back from school, they used to wander around the high wall and remember the good times.
Then came spring, and all over the country there were little blossoms and little birds. Only in the garden of the Selfish Giant it was still winter. The birds did not care to sing in it as there were no children and the trees forgot to blossom. The only people who were pleased were the snow and the frost. "Spring has forgotten this garden," they cried, "so we will live here all the year round." I cannot understand why the spring is so late in coming," said the selfish Giant, as he sat at the window and looked out at his cold white garden, "I hope there will be a change in the weather." But the spring never came, nor did the summer. The autumn gave golden fruit to every garden, but to the Giant's garden she gave none. "He was too selfish," she said. So it was always winter there.
One morning the Giant was lying awake in bed when he heard the birds singing. "I believe the spring has come at last," said the Giant, and he jumped out of bed and looked out. He saw the most wonderful sight. Through the little hole in the wall the children had crept in, and they were sitting on the branches of the trees. On every tree there was a child. The birds were flying about and twittering with delight, and the flowers were looking up through the green grass and laughing. It was a lovely scene however, in one corner it was still winter. It was the farthest corner of the garden, and in it was standing a little boy. He was so small that he could not reach the branches of the tree, and he was wandering all around it crying bitterly. The Giant's heart melted as he looked out. "How selfish I have been '" he said, "now I know why spring would not come here. I will put that poor little boy on the top of the tree, and then I will knock down the wall, and my garden shall be the children's play-ground forever and ever." He was really sorry for what he had done.
Choose the word/phrase which is most nearly the same in meaning as the word/ phrase printed in bold as
used in the passage.
Farthest
66.67% studentsanswered this correctly
Important Questions on Reading Comprehension
EASY
IBPS Clerk Prelims
IMPORTANT
Every afternoon, on their way back from school, the children used to go and play in the Giant's garden. It was a large lovely garden, with soft green grass. Over the grass stood beautiful flowers like stars, and there were twelve peach-trees that bore rich fruit. The birds would sit on the trees and sing sweetly to the children playing below. One day the Giant came back. He had been on a long tour and was now determined to return to his own castle. When he arrived he saw the children playing in the garden and was outrageous. "What are you doing here?" He shouted in a very gruff voice, and the children ran away. "I will not allow anybody to play in my garden but myself" said the Giant. And so, he built a high wall around it, and put up a notice-board that read trespassers will be prosecuted. He was a very selfish Giant. The poor children had now, nowhere to play. They tried to play on the road, but the road was very dusty and full of stones, and they did not like it. On their way back from school, they used to wander around the high wall and remember the good times.
Then came spring, and all over the country there were little blossoms and little birds. Only in the garden of the Selfish Giant it was still winter. The birds did not care to sing in it as there were no children and the trees forgot to blossom. The only people who were pleased were the snow and the frost. "Spring has forgotten this garden," they cried, "so we will live here all the year round." I cannot understand why the spring is so late in coming," said the selfish Giant, as he sat at the window and looked out at his cold white garden, "I hope there will be a change in the weather." But the spring never came, nor did the summer. The autumn gave golden fruit to every garden, but to the Giant's garden she gave none. "He was too selfish," she said. So it was always winter there.
One morning the Giant was lying awake in bed when he heard the birds singing. "I believe the spring has come at last," said the Giant, and he jumped out of bed and looked out. He saw the most wonderful sight. Through the little hole in the wall the children had crept in, and they were sitting on the branches of the trees. On every tree there was a child. The birds were flying about and twittering with delight, and the flowers were looking up through the green grass and laughing. It was a lovely scene however, in one corner it was still winter. It was the farthest corner of the garden, and in it was standing a little boy. He was so small that he could not reach the branches of the tree, and he was wandering all around it crying bitterly. The Giant's heart melted as he looked out. "How selfish I have been '" he said, "now I know why spring would not come here. I will put that poor little boy on the top of the tree, and then I will knock down the wall, and my garden shall be the children's play-ground forever and ever." He was really sorry for what he had done.
Choose the word which is most OPPOSITE in meaning of the word printed in bold as used in the
passage.
Awake
EASY
IBPS Clerk Prelims
IMPORTANT
Every afternoon, on their way back from school, the children used to go and play in the Giant's garden. It was a large lovely garden, with soft green grass. Over the grass stood beautiful flowers like stars, and there were twelve peach-trees that bore rich fruit. The birds would sit on the trees and sing sweetly to the children playing below. One day the Giant came back. He had been on a long tour and was now determined to return to his own castle. When he arrived he saw the children playing in the garden and was outrageous. "What are you doing here?" He shouted in a very gruff voice, and the children ran away. "I will not allow anybody to play in my garden but myself" said the Giant. And so, he built a high wall around it, and put up a notice-board that read trespassers will be prosecuted. He was a very selfish Giant. The poor children had now, nowhere to play. They tried to play on the road, but the road was very dusty and full of stones, and they did not like it. On their way back from school, they used to wander around the high wall and remember the good times.
Then came spring, and all over the country there were little blossoms and little birds. Only in the garden of the Selfish Giant it was still winter. The birds did not care to sing in it as there were no children and the trees forgot to blossom. The only people who were pleased were the snow and the frost. "Spring has forgotten this garden," they cried, "so we will live here all the year round." I cannot understand why the spring is so late in coming," said the selfish Giant, as he sat at the window and looked out at his cold white garden, "I hope there will be a change in the weather." But the spring never came, nor did the summer. The autumn gave golden fruit to every garden, but to the Giant's garden she gave none. "He was too selfish," she said. So it was always winter there.
One morning the Giant was lying awake in bed when he heard the birds singing. "I believe the spring has come at last," said the Giant, and he jumped out of bed and looked out. He saw the most wonderful sight. Through the little hole in the wall the children had crept in, and they were sitting on the branches of the trees. On every tree there was a child. The birds were flying about and twittering with delight, and the flowers were looking up through the green grass and laughing. It was a lovely scene however, in one corner it was still winter. It was the farthest corner of the garden, and in it was standing a little boy. He was so small that he could not reach the branches of the tree, and he was wandering all around it crying bitterly. The Giant's heart melted as he looked out. "How selfish I have been '" he said, "now I know why spring would not come here. I will put that poor little boy on the top of the tree, and then I will knock down the wall, and my garden shall be the children's play-ground forever and ever." He was really sorry for what he had done.
Why did the autumn trees refuse to bear fruit ?
EASY
IBPS Clerk Prelims
IMPORTANT
Every afternoon, on their way back from school, the children used to go and play in the Giant's garden. It was a large lovely garden, with soft green grass. Over the grass stood beautiful flowers like stars, and there were twelve peach-trees that bore rich fruit. The birds would sit on the trees and sing sweetly to the children playing below. One day the Giant came back. He had been on a long tour and was now determined to return to his own castle. When he arrived he saw the children playing in the garden and was outrageous. "What are you doing here?" He shouted in a very gruff voice, and the children ran away. "I will not allow anybody to play in my garden but myself" said the Giant. And so, he built a high wall around it, and put up a notice-board that read trespassers will be prosecuted. He was a very selfish Giant. The poor children had now, nowhere to play. They tried to play on the road, but the road was very dusty and full of stones, and they did not like it. On their way back from school, they used to wander around the high wall and remember the good times.
Then came spring, and all over the country there were little blossoms and little birds. Only in the garden of the Selfish Giant it was still winter. The birds did not care to sing in it as there were no children and the trees forgot to blossom. The only people who were pleased were the snow and the frost. "Spring has forgotten this garden," they cried, "so we will live here all the year round." I cannot understand why the spring is so late in coming," said the selfish Giant, as he sat at the window and looked out at his cold white garden, "I hope there will be a change in the weather." But the spring never came, nor did the summer. The autumn gave golden fruit to every garden, but to the Giant's garden she gave none. "He was too selfish," she said. So it was always winter there.
One morning the Giant was lying awake in bed when he heard the birds singing. "I believe the spring has come at last," said the Giant, and he jumped out of bed and looked out. He saw the most wonderful sight. Through the little hole in the wall the children had crept in, and they were sitting on the branches of the trees. On every tree there was a child. The birds were flying about and twittering with delight, and the flowers were looking up through the green grass and laughing. It was a lovely scene however, in one corner it was still winter. It was the farthest corner of the garden, and in it was standing a little boy. He was so small that he could not reach the branches of the tree, and he was wandering all around it crying bitterly. The Giant's heart melted as he looked out. "How selfish I have been '" he said, "now I know why spring would not come here. I will put that poor little boy on the top of the tree, and then I will knock down the wall, and my garden shall be the children's play-ground forever and ever." He was really sorry for what he had done.
Choose the word which is most OPPOSITE in meaning of the word printed in bold as used in the
passage.
Gruff
MEDIUM
IBPS Clerk Prelims
IMPORTANT
Every afternoon, on their way back from school, the children used to go and play in the Giant's garden. It was a large lovely garden, with soft green grass. Over the grass stood beautiful flowers like stars, and there were twelve peach-trees that bore rich fruit. The birds would sit on the trees and sing sweetly to the children playing below. One day the Giant came back. He had been on a long tour and was now determined to return to his own castle. When he arrived he saw the children playing in the garden and was outrageous. "What are you doing here?" He shouted in a very gruff voice, and the children ran away. "I will not allow anybody to play in my garden but myself" said the Giant. And so, he built a high wall around it, and put up a notice-board that read trespassers will be prosecuted. He was a very selfish Giant. The poor children had now, nowhere to play. They tried to play on the road, but the road was very dusty and full of stones, and they did not like it. On their way back from school, they used to wander around the high wall and remember the good times.
Then came spring, and all over the country there were little blossoms and little birds. Only in the garden of the Selfish Giant it was still winter. The birds did not care to sing in it as there were no children and the trees forgot to blossom. The only people who were pleased were the snow and the frost. "Spring has forgotten this garden," they cried, "so we will live here all the year round." I cannot understand why the spring is so late in coming," said the selfish Giant, as he sat at the window and looked out at his cold white garden, "I hope there will be a change in the weather." But the spring never came, nor did the summer. The autumn gave golden fruit to every garden, but to the Giant's garden she gave none. "He was too selfish," she said. So it was always winter there.
One morning the Giant was lying awake in bed when he heard the birds singing. "I believe the spring has come at last," said the Giant, and he jumped out of bed and looked out. He saw the most wonderful sight. Through the little hole in the wall the children had crept in, and they were sitting on the branches of the trees. On every tree there was a child. The birds were flying about and twittering with delight, and the flowers were looking up through the green grass and laughing. It was a lovely scene however, in one corner it was still winter. It was the farthest corner of the garden, and in it was standing a little boy. He was so small that he could not reach the branches of the tree, and he was wandering all around it crying bitterly. The Giant's heart melted as he looked out. "How selfish I have been '" he said, "now I know why spring would not come here. I will put that poor little boy on the top of the tree, and then I will knock down the wall, and my garden shall be the children's play-ground forever and ever." He was really sorry for what he had done.
What did the Giant do to keep the children away from his garden?
MEDIUM
IBPS Clerk Prelims
IMPORTANT
A large majority of the poor in India are outside the formal banking system. The policy of financial inclusion sets out to remedy this by making available a basic banking no frills account either with nil or very minimum balances as well as charges that would make such accounts accessible to vast sections of the population. However, the mere opening of a bank account in the name of every household or adult person may not be enough, unless these accounts and financial services offered to them are used by the account holders. At present, commercial banks do not find it viable to provide services to the poor especially in the rural areas because of huge transaction costs, low volumes of savings in the accounts, lack of information on the account holder, etc. For the poor, interacting with the banks with their paper work, economic costs of going to the bank and the need for flexibility in their accounts, make them turn to other informal channels or other institutions. Thus, there are constraints on both the supply and the demand side. Till now, banks were looking at these accounts from a purely credit perspective. Instead, they should look at this from the point of view of meeting the huge need of the poor for savings.
Poor households want to save and contrary to the common perception, do have the funds to save, but lack control. Informal mutual saving systems like the Rotating Savings and Credit Associations (ROSCAs), widespread in Africa and thrift and credit groups in India demonstrate that poor households save. For the poor household, which lacks access to the formal insurance system and the credit system, savings provide a safety net and help them tide over crises. Savings can also keep them away from the clutches of moneylenders, make formal institutions more favourable to lending to them, encourage investment and make them shift to more productive activities, as they may invest in slightly more risky activities which have an overall higher rate of return.
Research shows the efficacy of informal institutions in increasing the savings of the small account holders. An MFI in the Philippines, which had existing account holders, was studied. They offered new products with commitment features. One type had withdrawal restrictions in the sense that it required individuals to restrict their right to withdraw any funds from their own accounts until they reached a self-specified and documented goal. The other type was deposit options. Clients could purchase a locked box for a small fee. The key was with the bank and the client has to bring the box to the bank to make the deposit. He could not dip into the savings even if he wanted to. These accounts did not pay extra money and were illiquid. Surprisingly, these products were popular even though these had restrictions. Results showed that those who opted for these accounts with restrictions had substantially greater savings rates than those who did not. The policy of financial inclusion can be a success if financial inclusion focuses on both saving needs and credit needs, having a diversified product portfolio for the poor but recognising that self-control problems need to be addressed by having commitment devices. The products with commitment features should be optional. Furthermore transaction costs for the poor could be cut down, by making innovative use of technology available and offering mobile vans with ATM and deposit collection features which could visit villages periodically.
The author's main objective in writing the passage is to:
MEDIUM
IBPS Clerk Prelims
IMPORTANT
A large majority of the poor in India are outside the formal banking system. The policy of financial inclusion sets out to remedy this by making available a basic banking no frills account either with nil or very minimum balances as well as charges that would make such accounts accessible to vast sections of the population. However, the mere opening of a bank account in the name of every household or adult person may not be enough, unless these accounts and financial services offered to them are used by the account holders. At present, commercial banks do not find it viable to provide services to the poor especially in the rural areas because of huge transaction costs, low volumes of savings in the accounts, lack of information on the account holder, etc. For the poor, interacting with the banks with their paper work, economic costs of going to the bank and the need for flexibility in their accounts, make them turn to other informal channels or other institutions. Thus, there are constraints on both the supply and the demand side. Till now, banks were looking at these accounts from a purely credit perspective. Instead, they should look at this from the point of view of meeting the huge need of the poor for savings.
Poor households want to save and contrary to the common perception, do have the funds to save, but lack control. Informal mutual saving systems like the Rotating Savings and Credit Associations (ROSCAs), widespread in Africa and thrift and credit groups in India demonstrate that poor households save. For the poor household, which lacks access to the formal insurance system and the credit system, savings provide a safety net and help them tide over crises. Savings can also keep them away from the clutches of moneylenders, make formal institutions more favourable to lending to them, encourage investment and make them shift to more productive activities, as they may invest in slightly more risky activities which have an overall higher rate of return.
Research shows the efficacy of informal institutions in increasing the savings of the small account holders. An MFI in the Philippines, which had existing account holders, was studied. They offered new products with commitment features. One type had withdrawal restrictions in the sense that it required individuals to restrict their right to withdraw any funds from their own accounts until they reached a self-specified and documented goal. The other type was deposit options. Clients could purchase a locked box for a small fee. The key was with the bank and the client has to bring the box to the bank to make the deposit. He could not dip into the savings even if he wanted to. These accounts did not pay extra money and were illiquid. Surprisingly, these products were popular even though these had restrictions. Results showed that those who opted for these accounts with restrictions had substantially greater savings rates than those who did not. The policy of financial inclusion can be a success if financial inclusion focuses on both saving needs and credit needs, having a diversified product portfolio for the poor but recognising that self-control problems need to be addressed by having commitment devices. The products with commitment features should be optional. Furthermore transaction costs for the poor could be cut down, by making innovative use of technology available and offering mobile vans with ATM and deposit collection features which could visit villages periodically.
What is the aim of the financial inclusion policy?
HARD
IBPS Clerk Prelims
IMPORTANT
A large majority of the poor in India are outside the formal banking system. The policy of financial inclusion sets out to remedy this by making available a basic banking no frills account either with nil or very minimum balances as well as charges that would make such accounts accessible to vast sections of the population. However, the mere opening of a bank account in the name of every household or adult person may not be enough, unless these accounts and financial services offered to them are used by the account holders. At present, commercial banks do not find it viable to provide services to the poor especially in the rural areas because of huge transaction costs, low volumes of savings in the accounts, lack of information on the account holder, etc. For the poor, interacting with the banks with their paper work, economic costs of going to the bank and the need for flexibility in their accounts, make them turn to other informal channels or other institutions. Thus, there are constraints on both the supply and the demand side. Till now, banks were looking at these accounts from a purely credit perspective. Instead, they should look at this from the point of view of meeting the huge need of the poor for savings.
Poor households want to save and contrary to the common perception, do have the funds to save, but lack control. Informal mutual saving systems like the Rotating Savings and Credit Associations (ROSCAs), widespread in Africa and thrift and credit groups in India demonstrate that poor households save. For the poor household, which lacks access to the formal insurance system and the credit system, savings provide a safety net and help them tide over crises. Savings can also keep them away from the clutches of moneylenders, make formal institutions more favourable to lending to them, encourage investment and make them shift to more productive activities, as they may invest in slightly more risky activities which have an overall higher rate of return.
Research shows the efficacy of informal institutions in increasing the savings of the small account holders. An MFI in the Philippines, which had existing account holders, was studied. They offered new products with commitment features. One type had withdrawal restrictions in the sense that it required individuals to restrict their right to withdraw any funds from their own accounts until they reached a self-specified and documented goal. The other type was deposit options. Clients could purchase a locked box for a small fee. The key was with the bank and the client has to bring the box to the bank to make the deposit. He could not dip into the savings even if he wanted to. These accounts did not pay extra money and were illiquid. Surprisingly, these products were popular even though these had restrictions. Results showed that those who opted for these accounts with restrictions had substantially greater savings rates than those who did not. The policy of financial inclusion can be a success if financial inclusion focuses on both saving needs and credit needs, having a diversified product portfolio for the poor but recognising that self-control problems need to be addressed by having commitment devices. The products with commitment features should be optional. Furthermore transaction costs for the poor could be cut down, by making innovative use of technology available and offering mobile vans with ATM and deposit collection features which could visit villages periodically.
Which of the following can be inferred about products with commitment features ?
(A) Demand for such products was high.
(B) They were an effective means of increasing the savings of small account holders.
(C) Such facilities can only be offered by informal institutions like MFIs.
HARD
IBPS Clerk Prelims
IMPORTANT
A large majority of the poor in India are outside the formal banking system. The policy of financial inclusion sets out to remedy this by making available a basic banking no frills account either with nil or very minimum balances as well as charges that would make such accounts accessible to vast sections of the population. However, the mere opening of a bank account in the name of every household or adult person may not be enough, unless these accounts and financial services offered to them are used by the account holders. At present, commercial banks do not find it viable to provide services to the poor especially in the rural areas because of huge transaction costs, low volumes of savings in the accounts, lack of information on the account holder, etc. For the poor, interacting with the banks with their paper work, economic costs of going to the bank and the need for flexibility in their accounts, make them turn to other informal channels or other institutions. Thus, there are constraints on both the supply and the demand side. Till now, banks were looking at these accounts from a purely credit perspective. Instead, they should look at this from the point of view of meeting the huge need of the poor for savings.
Poor households want to save and contrary to the common perception, do have the funds to save, but lack control. Informal mutual saving systems like the Rotating Savings and Credit Associations (ROSCAs), widespread in Africa and thrift and credit groups in India demonstrate that poor households save. For the poor household, which lacks access to the formal insurance system and the credit system, savings provide a safety net and help them tide over crises. Savings can also keep them away from the clutches of moneylenders, make formal institutions more favourable to lending to them, encourage investment and make them shift to more productive activities, as they may invest in slightly more risky activities which have an overall higher rate of return.
Research shows the efficacy of informal institutions in increasing the savings of the small account holders. An MFI in the Philippines, which had existing account holders, was studied. They offered new products with commitment features. One type had withdrawal restrictions in the sense that it required individuals to restrict their right to withdraw any funds from their own accounts until they reached a self-specified and documented goal. The other type was deposit options. Clients could purchase a locked box for a small fee. The key was with the bank and the client has to bring the box to the bank to make the deposit. He could not dip into the savings even if he wanted to. These accounts did not pay extra money and were illiquid. Surprisingly, these products were popular even though these had restrictions. Results showed that those who opted for these accounts with restrictions had substantially greater savings rates than those who did not. The policy of financial inclusion can be a success if financial inclusion focuses on both saving needs and credit needs, having a diversified product portfolio for the poor but recognising that self-control problems need to be addressed by having commitment devices. The products with commitment features should be optional. Furthermore transaction costs for the poor could be cut down, by making innovative use of technology available and offering mobile vans with ATM and deposit collection features which could visit villages periodically.
Which of the following is a recommendation made by the author regarding financial inclusion ?
