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Question 111

LIC Assistant 2022• English Language

Select the most appropriate sentence with respect to grammar and usage.

  1. AOption (a)

    Around 64 per cent of land used for agriculture so food crops is at risk of pesticide pollution.

  2. BOption (b)

    An erratic monsoon season can damage the economy and affect agricultural practices.

  3. COption (c)

    The intensity of cyclones and hurricanes might increased in the next century due to global warming.

  4. DOption (d)

    Robotics develop machines that can substitute for humans and replicate human actions.

  5. EOption (e)

    None of these

View answer & explanation

Correct answer

Answer: (b)B.

An erratic monsoon season can damage the economy and affect agricultural practices.

Why this answer is correct

The correct answer is An erratic monsoon season can damage the economy and affect agricultural practices.

Key Points

  • The sentence 'An erratic monsoon season can damage the economy and affect agricultural practices.' is grammatically correct.
  • The article 'an' is used before the word 'erratic' because it begins with a vowel sound.
  • The base form of the verb 'damage' and 'affect' is used after the modal verb 'can'.
  • The conjunction 'and' is also appropriate.
  • Hence, the sentence is grammatically correct.
  • The corrected form of the other sentences are:
  • | Option | Grammatical mistake | Corrected sentence | | --- | --- | --- | | 1. | The conjunction 'so' should be replaced with 'and' | Around 64 per cent of land used for agriculture and food crops is at risk of pesticide pollution. | | 3. | The base form of the verb 'increased', i.e. 'increase' should be used here. | The intensity of cyclones and hurricanes might increase in the next century due to global warming. | | 4. | The word 'develop' should be replaced with the word 'develops'. | Robotics develops machines that can substitute for humans and replicate human actions. |

 

  • Therefore, option 2) is the answer.

Additional Information

  • Erratic: unpredictable or inconstant

Question 112

LIC Assistant 2022• English Language

Directions: Read the passage given below and answer the questions that follow by choosing the correct/most appropriate options:

AU Small Finance Bank Limited is an Indian Small finance bank, based in Jaipur, India. It was founded as vehicle finance company AU Financiers (India) Ltd in 1996 and converted to a small finance bank on 19 April 2017. AU Small Finance Bank serves low and middle-income individuals and micro and small businesses that have limited or no access to formal banking and finance channels. The Bank offers loans, deposits, and payment products and services. AU Small Finance Bank ranked 355 in the list of Fortune India 500 (2019) companies, with annual revenue of ₹3,410.87 crore (US$427 million) and Total B/S Assets of ₹31,198.68 crores (US$3.9 billion). AU Bank enjoys a long-term credit rating of “AA-/Stable” from CRISIL Ratings, ICRA Ratings, India Ratings, and CARE Ratings.

The company was founded by Sanjay Agarwal (managing director and CEO of AU Small Finance Bank) as a private limited company, and publicly listed in an IPO on 29 June 2017. A merit holder Chartered Accountant and a first-generation entrepreneur, he holds ~28.5% stake in the Bank. He is supported by a team of 23,486 employees. AU Small Finance Bank is listed on NSE & BSE with a market capitalization of ~Rs. 37,942 crore. On its first day of trading, the stock rose 51% to be the most expensive bank in India based on price-to-book. In November 2017, the Reserve Bank of India added the bank to its schedule of commercial banks, further improving the bank's growth prospects by reducing the cost of short-term funds and improving the bank's ability to provide services.

Over the years, the Bank has attracted marquee investors like IFC, Warburg Pincus, Temasek Holdings, Nomura, Kotak Mahindra MF, etc. Private equity companies that provided venture capital, including Warburg Pincus and International Finance Corporation, made partial exits for as much as nine times their original investment.

Due to its history as a vehicle finance company, as of March 2018 almost all the loans made by AU Small Finance Bank were secured, unlike most small finance banks that have unsecured loans due to their background in microfinance. This provides lower yields (lower interest rates) than unsecured loans, so the bank has been particularly active in growing its deposits, as bank deposits have a lower cost than other sources of funds. It has also sought to diversify into savings products like deposits, payment/transaction banking, distribution of third-party products, and additional loan products thereby positioning itself as a holistic financial products and services provider.

As on June 30, 2021, AU Small Finance Bank's distribution network _______ 758 Banking Touchpoints and 23,486 employees spread contiguously across 15 states and two Union Territories with over 2 million customers. The bank has operations in 15 states and two union territories, with Rajasthan, Gujarat, Maharashtra, and Madhya Pradesh being key states. It is one of the largest banks by a number of locations in its home state of Rajasthan.

Where is the headquarters of AU Small Finance Bank?

  1. AOption (a)

    Ahmedabad

  2. BOption (b)

    Jaipur

  3. COption (c)

    Mumbai

  4. DOption (d)

    Delhi

  5. EOption (e)

    Bangalore

View answer & explanation

Correct answer

Answer: (b)B.

Jaipur

Why this answer is correct

The correct answer is 'Jaipur.'

Key Points

  • The first sentence of the first paragraph says "AU Small Finance Bank Limited is an Indian Small finance bank, based in Jaipur, India.''
  • From the above sentence, we can say that the headquarters of AU Small Finance Bank is in Jaipur.

Hence, the only possible answer is option 2.

Question 113

LIC Assistant 2022• English Language

Directions: Read the passage given below and answer the questions that follow by choosing the correct/most appropriate options:

AU Small Finance Bank Limited is an Indian Small finance bank, based in Jaipur, India. It was founded as vehicle finance company AU Financiers (India) Ltd in 1996 and converted to a small finance bank on 19 April 2017. AU Small Finance Bank serves low and middle-income individuals and micro and small businesses that have limited or no access to formal banking and finance channels. The Bank offers loans, deposits, and payment products and services. AU Small Finance Bank ranked 355 in the list of Fortune India 500 (2019) companies, with annual revenue of ₹3,410.87 crore (US$427 million) and Total B/S Assets of ₹31,198.68 crores (US$3.9 billion). AU Bank enjoys a long-term credit rating of “AA-/Stable” from CRISIL Ratings, ICRA Ratings, India Ratings, and CARE Ratings.

The company was founded by Sanjay Agarwal (managing director and CEO of AU Small Finance Bank) as a private limited company, and publicly listed in an IPO on 29 June 2017. A merit holder Chartered Accountant and a first-generation entrepreneur, he holds ~28.5% stake in the Bank. He is supported by a team of 23,486 employees. AU Small Finance Bank is listed on NSE & BSE with a market capitalization of ~Rs. 37,942 crore. On its first day of trading, the stock rose 51% to be the most expensive bank in India based on price-to-book. In November 2017, the Reserve Bank of India added the bank to its schedule of commercial banks, further improving the bank's growth prospects by reducing the cost of short-term funds and improving the bank's ability to provide services.

Over the years, the Bank has attracted marquee investors like IFC, Warburg Pincus, Temasek Holdings, Nomura, Kotak Mahindra MF, etc. Private equity companies that provided venture capital, including Warburg Pincus and International Finance Corporation, made partial exits for as much as nine times their original investment.

Due to its history as a vehicle finance company, as of March 2018 almost all the loans made by AU Small Finance Bank were secured, unlike most small finance banks that have unsecured loans due to their background in microfinance. This provides lower yields (lower interest rates) than unsecured loans, so the bank has been particularly active in growing its deposits, as bank deposits have a lower cost than other sources of funds. It has also sought to diversify into savings products like deposits, payment/transaction banking, distribution of third-party products, and additional loan products thereby positioning itself as a holistic financial products and services provider.

As on June 30, 2021, AU Small Finance Bank's distribution network _______ 758 Banking Touchpoints and 23,486 employees spread contiguously across 15 states and two Union Territories with over 2 million customers. The bank has operations in 15 states and two union territories, with Rajasthan, Gujarat, Maharashtra, and Madhya Pradesh being key states. It is one of the largest banks by a number of locations in its home state of Rajasthan.

Who is the founder of AU Small Finance Bank?

  1. AOption (a)

    Sanjay Agarwal.

  2. BOption (b)

    Uday Kotak.

  3. COption (c)

    Shanti Lal Jain.

  4. DOption (d)

    A. Manimekhalai.

  5. EOption (e)

    Dinesh Kumar Khara.

View answer & explanation

Correct answer

Answer: (a)A.

Sanjay Agarwal.

Why this answer is correct

The correct answer is 'Sanjay Agarwal.'

Key Points

  • The first sentence of the second paragraph says "The company was founded by Sanjay Agarwal (managing director and CEO of AU Small Finance Bank) as a private limited company, and publicly listed in an IPO on 29 June 2017.''
  • From the above sentence, we can say that Sanjay Agarwal is the founder of AU Small Finance Bank.

Hence, the only possible answer is option 1.

Question 114

LIC Assistant 2022• English Language

Directions: Read the passage given below and answer the questions that follow by choosing the correct/most appropriate options:

AU Small Finance Bank Limited is an Indian Small finance bank, based in Jaipur, India. It was founded as vehicle finance company AU Financiers (India) Ltd in 1996 and converted to a small finance bank on 19 April 2017. AU Small Finance Bank serves low and middle-income individuals and micro and small businesses that have limited or no access to formal banking and finance channels. The Bank offers loans, deposits, and payment products and services. AU Small Finance Bank ranked 355 in the list of Fortune India 500 (2019) companies, with annual revenue of ₹3,410.87 crore (US$427 million) and Total B/S Assets of ₹31,198.68 crores (US$3.9 billion). AU Bank enjoys a long-term credit rating of “AA-/Stable” from CRISIL Ratings, ICRA Ratings, India Ratings, and CARE Ratings.

The company was founded by Sanjay Agarwal (managing director and CEO of AU Small Finance Bank) as a private limited company, and publicly listed in an IPO on 29 June 2017. A merit holder Chartered Accountant and a first-generation entrepreneur, he holds ~28.5% stake in the Bank. He is supported by a team of 23,486 employees. AU Small Finance Bank is listed on NSE & BSE with a market capitalization of ~Rs. 37,942 crore. On its first day of trading, the stock rose 51% to be the most expensive bank in India based on price-to-book. In November 2017, the Reserve Bank of India added the bank to its schedule of commercial banks, further improving the bank's growth prospects by reducing the cost of short-term funds and improving the bank's ability to provide services.

Over the years, the Bank has attracted marquee investors like IFC, Warburg Pincus, Temasek Holdings, Nomura, Kotak Mahindra MF, etc. Private equity companies that provided venture capital, including Warburg Pincus and International Finance Corporation, made partial exits for as much as nine times their original investment.

Due to its history as a vehicle finance company, as of March 2018 almost all the loans made by AU Small Finance Bank were secured, unlike most small finance banks that have unsecured loans due to their background in microfinance. This provides lower yields (lower interest rates) than unsecured loans, so the bank has been particularly active in growing its deposits, as bank deposits have a lower cost than other sources of funds. It has also sought to diversify into savings products like deposits, payment/transaction banking, distribution of third-party products, and additional loan products thereby positioning itself as a holistic financial products and services provider.

As on June 30, 2021, AU Small Finance Bank's distribution network _______ 758 Banking Touchpoints and 23,486 employees spread contiguously across 15 states and two Union Territories with over 2 million customers. The bank has operations in 15 states and two union territories, with Rajasthan, Gujarat, Maharashtra, and Madhya Pradesh being key states. It is one of the largest banks by a number of locations in its home state of Rajasthan.

How much approx stake does the founder of AU Small Finance Bank have in AU Small Finance Bank?

  1. AOption (a)

    51% stake.

  2. BOption (b)

    28.5% stake.

  3. COption (c)

    37.97% ​stake.

  4. DOption (d)

    10% ​stake.

  5. EOption (e)

    49.23% ​stake.

    ×

    duplicate options found. English Question 1 options 3,4

    ×

    duplicate options found. English Question 1 options 3,4

View answer & explanation

Correct answer

Answer: (b)B.

28.5% stake.

Why this answer is correct

The correct answer is '28.5% stake.'

Key Points

  • The second sentence of the second paragraph says "A merit holder Chartered Accountant and a first-generation entrepreneur, he holds ~28.5% stake in the Bank.''
  • From the above sentence, we can say that the founder of AU Small Finance Bank has approx 28.5% stake in AU Small Finance Bank.

Hence, the only possible answer is option 2.

Question 115

LIC Assistant 2022• English Language

Directions: Read the passage given below and answer the questions that follow by choosing the correct/most appropriate options:

AU Small Finance Bank Limited is an Indian Small finance bank, based in Jaipur, India. It was founded as vehicle finance company AU Financiers (India) Ltd in 1996 and converted to a small finance bank on 19 April 2017. AU Small Finance Bank serves low and middle-income individuals and micro and small businesses that have limited or no access to formal banking and finance channels. The Bank offers loans, deposits, and payment products and services. AU Small Finance Bank ranked 355 in the list of Fortune India 500 (2019) companies, with annual revenue of ₹3,410.87 crore (US$427 million) and Total B/S Assets of ₹31,198.68 crores (US$3.9 billion). AU Bank enjoys a long-term credit rating of “AA-/Stable” from CRISIL Ratings, ICRA Ratings, India Ratings, and CARE Ratings.

The company was founded by Sanjay Agarwal (managing director and CEO of AU Small Finance Bank) as a private limited company, and publicly listed in an IPO on 29 June 2017. A merit holder Chartered Accountant and a first-generation entrepreneur, he holds ~28.5% stake in the Bank. He is supported by a team of 23,486 employees. AU Small Finance Bank is listed on NSE & BSE with a market capitalization of ~Rs. 37,942 crore. On its first day of trading, the stock rose 51% to be the most expensive bank in India based on price-to-book. In November 2017, the Reserve Bank of India added the bank to its schedule of commercial banks, further improving the bank's growth prospects by reducing the cost of short-term funds and improving the bank's ability to provide services.

Over the years, the Bank has attracted marquee investors like IFC, Warburg Pincus, Temasek Holdings, Nomura, Kotak Mahindra MF, etc. Private equity companies that provided venture capital, including Warburg Pincus and International Finance Corporation, made partial exits for as much as nine times their original investment.

Due to its history as a vehicle finance company, as of March 2018 almost all the loans made by AU Small Finance Bank were secured, unlike most small finance banks that have unsecured loans due to their background in microfinance. This provides lower yields (lower interest rates) than unsecured loans, so the bank has been particularly active in growing its deposits, as bank deposits have a lower cost than other sources of funds. It has also sought to diversify into savings products like deposits, payment/transaction banking, distribution of third-party products, and additional loan products thereby positioning itself as a holistic financial products and services provider.

As on June 30, 2021, AU Small Finance Bank's distribution network _______ 758 Banking Touchpoints and 23,486 employees spread contiguously across 15 states and two Union Territories with over 2 million customers. The bank has operations in 15 states and two union territories, with Rajasthan, Gujarat, Maharashtra, and Madhya Pradesh being key states. It is one of the largest banks by a number of locations in its home state of Rajasthan.

Choose the synonym of the word 'Improving'.

  1. AOption (a)

    Impairing

  2. BOption (b)

    Tarnishing

  3. COption (c)

    Vitiating

  4. DOption (d)

    Ameliorating

  5. EOption (e)

    Deteriorating

View answer & explanation

Correct answer

Answer: (d)D.

Ameliorating

Why this answer is correct

The correct answer is 'Ameliorating.'

Key Points

  • The word 'Improving' means To make or become better.
  • Example: Management needs to explore ways of improving office security.
  • Let's look at the meaning of the given options:-
  • Impairing - To weaken or damage.
  • Example: Many governments could increase their tax receipts without impairing the efficiency of their economies.
  • Tarnishing - To make or become less valuable or respected.
  • Example: It is not the opposition that is tarnishing the image of the regime.
  • Vitiating - To make something less effective; to spoil something.
  • Example: *The insurance company is *vitiating.
  • Ameliorating - To make something better.
  • Example: Government has assumed the responsibility for ameliorating income inequality in our society.
  • Deteriorating - To become progressively worse.
  • Example: Standards of living were deteriorating rather noticeably.

Hence, the only possible answer is option 4.

Additional Information

  • The synonyms of the word 'Improving' are "Ameliorating, Enhancing, Boosting".
  • The antonyms of the word 'Improving' are "Impairing, Deteriorating, Tarnishing".

Question 116

LIC Assistant 2022• English Language

Directions: Read the passage given below and answer the questions that follow by choosing the correct/most appropriate options:

AU Small Finance Bank Limited is an Indian Small finance bank, based in Jaipur, India. It was founded as vehicle finance company AU Financiers (India) Ltd in 1996 and converted to a small finance bank on 19 April 2017. AU Small Finance Bank serves low and middle-income individuals and micro and small businesses that have limited or no access to formal banking and finance channels. The Bank offers loans, deposits, and payment products and services. AU Small Finance Bank ranked 355 in the list of Fortune India 500 (2019) companies, with annual revenue of ₹3,410.87 crore (US$427 million) and Total B/S Assets of ₹31,198.68 crores (US$3.9 billion). AU Bank enjoys a long-term credit rating of “AA-/Stable” from CRISIL Ratings, ICRA Ratings, India Ratings, and CARE Ratings.

The company was founded by Sanjay Agarwal (managing director and CEO of AU Small Finance Bank) as a private limited company, and publicly listed in an IPO on 29 June 2017. A merit holder Chartered Accountant and a first-generation entrepreneur, he holds ~28.5% stake in the Bank. He is supported by a team of 23,486 employees. AU Small Finance Bank is listed on NSE & BSE with a market capitalization of ~Rs. 37,942 crore. On its first day of trading, the stock rose 51% to be the most expensive bank in India based on price-to-book. In November 2017, the Reserve Bank of India added the bank to its schedule of commercial banks, further improving the bank's growth prospects by reducing the cost of short-term funds and improving the bank's ability to provide services.

Over the years, the Bank has attracted marquee investors like IFC, Warburg Pincus, Temasek Holdings, Nomura, Kotak Mahindra MF, etc. Private equity companies that provided venture capital, including Warburg Pincus and International Finance Corporation, made partial exits for as much as nine times their original investment.

Due to its history as a vehicle finance company, as of March 2018 almost all the loans made by AU Small Finance Bank were secured, unlike most small finance banks that have unsecured loans due to their background in microfinance. This provides lower yields (lower interest rates) than unsecured loans, so the bank has been particularly active in growing its deposits, as bank deposits have a lower cost than other sources of funds. It has also sought to diversify into savings products like deposits, payment/transaction banking, distribution of third-party products, and additional loan products thereby positioning itself as a holistic financial products and services provider.

As on June 30, 2021, AU Small Finance Bank's distribution network _______ 758 Banking Touchpoints and 23,486 employees spread contiguously across 15 states and two Union Territories with over 2 million customers. The bank has operations in 15 states and two union territories, with Rajasthan, Gujarat, Maharashtra, and Madhya Pradesh being key states. It is one of the largest banks by a number of locations in its home state of Rajasthan.

Choose the antonym of the word 'Expensive'.

  1. AOption (a)

    Economical

  2. BOption (b)

    Extortionate

  3. COption (c)

    Extravagant

  4. DOption (d)

    Valuable

  5. EOption (e)

    Exorbitant

View answer & explanation

Correct answer

Answer: (a)A.

Economical

Why this answer is correct

The correct answer is 'Economical.'

Key Points

  • The word 'Expensive' means Costing a lot of money.
  • Example: She was wearing an expensive new outfit.
  • Let's look at the meaning of the given options:-
  • Economical - Cheap; inexpensive.
  • Example: My new car is economical in fuel.
  • Extortionate - Much too high; exorbitant.
  • Example: The price of books nowadays is extortionate.
  • Extravagant - Exceeding what is reasonable or appropriate; excessive or elaborate.
  • Example: He had a wildly extravagant lifestyle.
  • Valuable - Worth a great deal of money.
  • Example: He spent hours bargaining for the valuable watch.
  • Exorbitant - Unreasonably high; expensive.
  • Example: The price of food here is exorbitant.

Hence, the only possible answer is option 1.

Additional Information

  • The antonyms of the word 'Expensive' are "Economical, Cheap, Inexpensive".
  • The synonyms of the word 'Expensive' are "Extortionate, Extravagant, Exorbitant".

Question 117

LIC Assistant 2022• English Language

Directions: Read the passage given below and answer the questions that follow by choosing the correct/most appropriate options:

AU Small Finance Bank Limited is an Indian Small finance bank, based in Jaipur, India. It was founded as vehicle finance company AU Financiers (India) Ltd in 1996 and converted to a small finance bank on 19 April 2017. AU Small Finance Bank serves low and middle-income individuals and micro and small businesses that have limited or no access to formal banking and finance channels. The Bank offers loans, deposits, and payment products and services. AU Small Finance Bank ranked 355 in the list of Fortune India 500 (2019) companies, with annual revenue of ₹3,410.87 crore (US$427 million) and Total B/S Assets of ₹31,198.68 crores (US$3.9 billion). AU Bank enjoys a long-term credit rating of “AA-/Stable” from CRISIL Ratings, ICRA Ratings, India Ratings, and CARE Ratings.

The company was founded by Sanjay Agarwal (managing director and CEO of AU Small Finance Bank) as a private limited company, and publicly listed in an IPO on 29 June 2017. A merit holder Chartered Accountant and a first-generation entrepreneur, he holds ~28.5% stake in the Bank. He is supported by a team of 23,486 employees. AU Small Finance Bank is listed on NSE & BSE with a market capitalization of ~Rs. 37,942 crore. On its first day of trading, the stock rose 51% to be the most expensive bank in India based on price-to-book. In November 2017, the Reserve Bank of India added the bank to its schedule of commercial banks, further improving the bank's growth prospects by reducing the cost of short-term funds and improving the bank's ability to provide services.

Over the years, the Bank has attracted marquee investors like IFC, Warburg Pincus, Temasek Holdings, Nomura, Kotak Mahindra MF, etc. Private equity companies that provided venture capital, including Warburg Pincus and International Finance Corporation, made partial exits for as much as nine times their original investment.

Due to its history as a vehicle finance company, as of March 2018 almost all the loans made by AU Small Finance Bank were secured, unlike most small finance banks that have unsecured loans due to their background in microfinance. This provides lower yields (lower interest rates) than unsecured loans, so the bank has been particularly active in growing its deposits, as bank deposits have a lower cost than other sources of funds. It has also sought to diversify into savings products like deposits, payment/transaction banking, distribution of third-party products, and additional loan products thereby positioning itself as a holistic financial products and services provider.

As on June 30, 2021, AU Small Finance Bank's distribution network _______ 758 Banking Touchpoints and 23,486 employees spread contiguously across 15 states and two Union Territories with over 2 million customers. The bank has operations in 15 states and two union territories, with Rajasthan, Gujarat, Maharashtra, and Madhya Pradesh being key states. It is one of the largest banks by a number of locations in its home state of Rajasthan.

Choose the most appropriate meaning of the given phrase from the passage:

As of

  1. AOption (a)

    Comparisons to refer to the extent or degree of something.

  2. BOption (b)

    The function or character that someone or something has.

  3. COption (c)

    Commencing on or from a certain time or date.

  4. DOption (d)

    For the reason that; since.

  5. EOption (e)

    Close to the actual, but not completely accurate or exact.

View answer & explanation

Correct answer

Answer: (c)C.

Commencing on or from a certain time or date.

Why this answer is correct

The correct answer is 'Commencing on or from a certain time or date.'

Key Points

  • Given Idiom: As of means Commencing on or from a certain time or date.
  • Example: As of last December our meetings have been open to the public.
  • From the given options, the third option is the most appropriate meaning of the given idiom*.*

Hence, the correct answer is option 3.

Mistake Points

  • We may think from the phrase "As of" that it is all about something close to the actual, but not completely accurate or exact.

Additional Information

  • This idiom was first used in business but came into more general use in c.1900*.*

Question 118

LIC Assistant 2022• English Language

Directions: Read the passage given below and answer the questions that follow by choosing the correct/most appropriate options:

AU Small Finance Bank Limited is an Indian Small finance bank, based in Jaipur, India. It was founded as vehicle finance company AU Financiers (India) Ltd in 1996 and converted to a small finance bank on 19 April 2017. AU Small Finance Bank serves low and middle-income individuals and micro and small businesses that have limited or no access to formal banking and finance channels. The Bank offers loans, deposits, and payment products and services. AU Small Finance Bank ranked 355 in the list of Fortune India 500 (2019) companies, with annual revenue of ₹3,410.87 crore (US$427 million) and Total B/S Assets of ₹31,198.68 crores (US$3.9 billion). AU Bank enjoys a long-term credit rating of “AA-/Stable” from CRISIL Ratings, ICRA Ratings, India Ratings, and CARE Ratings.

The company was founded by Sanjay Agarwal (managing director and CEO of AU Small Finance Bank) as a private limited company, and publicly listed in an IPO on 29 June 2017. A merit holder Chartered Accountant and a first-generation entrepreneur, he holds ~28.5% stake in the Bank. He is supported by a team of 23,486 employees. AU Small Finance Bank is listed on NSE & BSE with a market capitalization of ~Rs. 37,942 crore. On its first day of trading, the stock rose 51% to be the most expensive bank in India based on price-to-book. In November 2017, the Reserve Bank of India added the bank to its schedule of commercial banks, further improving the bank's growth prospects by reducing the cost of short-term funds and improving the bank's ability to provide services.

Over the years, the Bank has attracted marquee investors like IFC, Warburg Pincus, Temasek Holdings, Nomura, Kotak Mahindra MF, etc. Private equity companies that provided venture capital, including Warburg Pincus and International Finance Corporation, made partial exits for as much as nine times their original investment.

Due to its history as a vehicle finance company, as of March 2018 almost all the loans made by AU Small Finance Bank were secured, unlike most small finance banks that have unsecured loans due to their background in microfinance. This provides lower yields (lower interest rates) than unsecured loans, so the bank has been particularly active in growing its deposits, as bank deposits have a lower cost than other sources of funds. It has also sought to diversify into savings products like deposits, payment/transaction banking, distribution of third-party products, and additional loan products thereby positioning itself as a holistic financial products and services provider.

As on June 30, 2021, AU Small Finance Bank's distribution network _______ 758 Banking Touchpoints and 23,486 employees spread contiguously across 15 states and two Union Territories with over 2 million customers. The bank has operations in 15 states and two union territories, with Rajasthan, Gujarat, Maharashtra, and Madhya Pradesh being key states. It is one of the largest banks by a number of locations in its home state of Rajasthan.

What will fit in the blank taken from the passage: ''As on June 30, 2021, AU Small Finance Bank's distribution network _______ 758 Banking Touchpoints and 23,486 employees spread contiguously across 15 states and two Union Territories with over 2 million customers.''

  1. AOption (a)

    Considerate

  2. BOption (b)

    Wary

  3. COption (c)

    Comprises

  4. DOption (d)

    Imprudent

  5. EOption (e)

    Compromises

View answer & explanation

Correct answer

Answer: (c)C.

Comprises

Why this answer is correct

The correct answer is 'Comprises.'

Key Points

  • The given sentence is saying that AU Small Finance Bank's distribution network consists of 758 Banking Touchpoints and 23,486 employees.
  • Therefore, the most appropriate word to be filled in the blank is 'Comprises'.
  • Also, the use of the word ''across'' in the sentence indicates the use of the word 'comprises' in the blank.
  • The word 'Comprises' means Consist of; be made up of.
  • Example: The committee comprises men of widely different views.

Hence, the correct answer is option 3.

Complete Sentence: As on June 30, 2021, AU Small Finance Bank's distribution network comprises 758 Banking Touchpoints, and 23,486 employees spread contiguously across 15 states and two Union Territories with over 2 million customers.

Additional Information

  • Let us explore  the other options:
  • Considerate means Careful not to inconvenience or harm others.
  • Wary means Feeling or showing caution about possible dangers or problems.
  • Imprudent means Not showing care for the consequences of an action; rash.
  • Compromises means To settle a dispute by mutual concession.

Question 119

LIC Assistant 2022• English Language

Directions: Read the passage given below and answer the questions that follow by choosing the correct/most appropriate options:

AU Small Finance Bank Limited is an Indian Small finance bank, based in Jaipur, India. It was founded as vehicle finance company AU Financiers (India) Ltd in 1996 and converted to a small finance bank on 19 April 2017. AU Small Finance Bank serves low and middle-income individuals and micro and small businesses that have limited or no access to formal banking and finance channels. The Bank offers loans, deposits, and payment products and services. AU Small Finance Bank ranked 355 in the list of Fortune India 500 (2019) companies, with annual revenue of ₹3,410.87 crore (US$427 million) and Total B/S Assets of ₹31,198.68 crores (US$3.9 billion). AU Bank enjoys a long-term credit rating of “AA-/Stable” from CRISIL Ratings, ICRA Ratings, India Ratings, and CARE Ratings.

The company was founded by Sanjay Agarwal (managing director and CEO of AU Small Finance Bank) as a private limited company, and publicly listed in an IPO on 29 June 2017. A merit holder Chartered Accountant and a first-generation entrepreneur, he holds ~28.5% stake in the Bank. He is supported by a team of 23,486 employees. AU Small Finance Bank is listed on NSE & BSE with a market capitalization of ~Rs. 37,942 crore. On its first day of trading, the stock rose 51% to be the most expensive bank in India based on price-to-book. In November 2017, the Reserve Bank of India added the bank to its schedule of commercial banks, further improving the bank's growth prospects by reducing the cost of short-term funds and improving the bank's ability to provide services.

Over the years, the Bank has attracted marquee investors like IFC, Warburg Pincus, Temasek Holdings, Nomura, Kotak Mahindra MF, etc. Private equity companies that provided venture capital, including Warburg Pincus and International Finance Corporation, made partial exits for as much as nine times their original investment.

Due to its history as a vehicle finance company, as of March 2018 almost all the loans made by AU Small Finance Bank were secured, unlike most small finance banks that have unsecured loans due to their background in microfinance. This provides lower yields (lower interest rates) than unsecured loans, so the bank has been particularly active in growing its deposits, as bank deposits have a lower cost than other sources of funds. It has also sought to diversify into savings products like deposits, payment/transaction banking, distribution of third-party products, and additional loan products thereby positioning itself as a holistic financial products and services provider.

As on June 30, 2021, AU Small Finance Bank's distribution network _______ 758 Banking Touchpoints and 23,486 employees spread contiguously across 15 states and two Union Territories with over 2 million customers. The bank has operations in 15 states and two union territories, with Rajasthan, Gujarat, Maharashtra, and Madhya Pradesh being key states. It is one of the largest banks by a number of locations in its home state of Rajasthan.

According to the passage, AU Small Finance Bank Limited was founded as:

  1. AOption (a)

    Health finance company.

  2. BOption (b)

    Small finance bank.

  3. COption (c)

    Vehicle finance company.

  4. DOption (d)

    Educational finance company.

  5. EOption (e)

    Sports finance company.

View answer & explanation

Correct answer

Answer: (c)C.

Vehicle finance company.

Why this answer is correct

The correct answer is 'Vehicle finance company.'

Key Points

  • The second sentence of the first paragraph says "It was founded as vehicle finance company AU Financiers (India) Ltd in 1996 and converted to a small finance bank on 19 April 2017.''
  • From the above sentence, we can say that according to the passage, AU Small Finance Bank Limited was founded as a vehicle finance company.

Hence, the only possible answer is option 3.

Question 120

LIC Assistant 2022• English Language

Direction: Pick out the most appropriate word from the words given below each sentence to complete it meaningfully. 

In the past, Zimbardo _________ many aspects of social psychology.

  1. AOption (a)

    researches

  2. BOption (b)

    research

  3. COption (c)

    researcher

  4. DOption (d)

    researched 

  5. EOption (e)

    none of these

View answer & explanation

Correct answer

Answer: (d)D.

researched 

Why this answer is correct

The correct answer is researched.

Key Points

The explanation is as follows:

  • The given statement shows completed action.
  • The simple past is used for a completed action.
  • It often is used with signal words or phrases such as "yesterday," "last week," "1 year ago," or "in 2015", etc.
  • It is used to indicate the specific time in the past when the action took place.
  • Example: Aparna went to China in 2010.
  • The word researched is in the simple past form.

Hence, the correct sentence is In the past, Zimbardo researched many aspects of social psychology.

Additional Information

Simple Past:

  • It is verb tense.
  • It is used to talk about things that happened or existed before now.
  • Examples:
  • She saw a movie yesterday.
  • She didn't see the work yesterday.
  • Last year, she traveled to Japan.
  • Last year, she didn't travel to Korea.
  • Did you have dinner last night?
  • She washed her car.
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