This section can be easy as pie if your basics are clear. Sometimes, even those who can communicate very well in English, fail to perform to the best of their ability in the banking exams. So, instead of boiling the ocean, try building up a strong vocabulary, an effective knowledge of grammar, and efficient comprehension skills so as to be on the ball to face this particular section. Here is a quiz of Close Tests being provided by Adda247 to let you practice the best of latest pattern English Questions.
Directions (1-15): In the passage given below there are blanks which are to be filled with the options given below. Find out the appropriate word in each case which can most suitably complete the sentence without altering the meaning of the statement.
Fintech firms have (1)……. across LAC, offering solutions to key challenges in the region’s financial sector. Cumplo offers a digital (2)……. connecting investors and borrowers, often those who are not (3)…….. credit-worthy by formal financial institutions “We allow investors to decide directly who they are going to lend their money to, while borrowers, such as small businesses, can borrow money directly from a (4)……. of investors, ”explains Cumplo founder Mr Shea. By connecting investors and borrowers, the model eliminates bank (5)…… costs, allowing investors to charge lower rates to borrowers. Cumplo (6)……. this at 19-20% per annum (pa) for short term (7)……. (usually two months), (8)……. with 30-36% pa (9)……. by a bank. Over the past six years, over US$300m worth of loans have been (10)…….. on their platform, he says. Emerging fintech firms are providing digital financial services, including savings and credit products, to millions of people without access to formal financial services. One example is Nubank, which (11)……. to reach the 60m people in Brazil who do not have a bank account but own smartphones and are (12)……. on social media. Nubank’s founder, Mr Velez, explains that (13)……… all service fees, including for money transfers, encourages greater (14)…….. of these services—a factor that often (15)……… those in low-income groups from using formal financial services.
Sol. sprouted-grown up. Thus, option(b) is correct.
Q2. (a) stage
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Sol. ‘platform’ is the best suited alternative here as Cumplo offers a platform which connects the investors with borrowers.’Cumplo offers a digital (2)platform(a place or opportunity to express) connecting investors and borrowers’.
purview- enacting part of statute
Q3. (a) calculated
Sol. considered-to think about seriously
Q4. (a) treasure
Sol. pool-a supply of resources
Q5. (a) intermediation
Sol. intermediation-intervention; an act of coming between
intermittent-stopping and starting at intervals
internment-confinement with narrow limits
interstatute-(It is an incorrect word)
interconnecting-connecting internally (in between)
Q6. (a) identifies
Sol. estimates-a general idea of the size, value or cost of
Q7. (a) advancing
Sol. financing-to provide funds/finance for
Sol. compared-to assess the similarities and differences of two or more things
contrasted-to differentiate between two objects
Q9. (a) charged on
(b) charged of
(c) charged at
(e) charged as
Q10. (a) circulated
Q11. (a) aims
Sol. aims-to set target
Q12. (a) circulating
Sol. active-up and doing….(People in Brazil are active on social media through smartphones)
Q13. (a) charging
Q14. (a) minimization
Sol. utilisation-the act of using something
Q15. (a) deters
Sol. deters-to prevent something from happening