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IBPS PO, IBPS RRB & NABARD exam: Reading Comprehension Quiz based on ‘The Times of India’

Sep 28, 2016 16:27 IST

    It has been observed in the recent banking examinations that questions on Reading Comprehension come from passages taken from newspapers such as The Times of India, The Economic Times, The Business Line, The Business Standard etc. Here, the banking team of Jagranjosh is bringing to you RC Passage from The Times of India (Dated September 25, 2016) and questions based on that. Attempt the quiz as it will help you a lot in your preparation for upcoming examinations.

    Question (1-10): Read the following passage carefully and answer the questions that follow. Some words / phrases are printed in bold in the passage in order to help you trace them while answering some of the questions

    A dozen Chinese investors offered at a technology summit here on Sunday to jointly provide funding of about $50 million (Rs.334 crore) for Indian start-ups. The investors include a Cyber Carrier, a Hong Kong-based Chinese internet enterprise that has set up a $30 million initiative fund in January to invest in six Indian start-ups. About 150 seed funded start-ups pitched for Series A funding at the two-day summit by presenting their ideas to a 17-member delegation of Chinese investors.

    "Each start-up is seeking $4-10 million funding from the Chinese investors, including Carrier, which helps enterprises in FinTech, B2B, e-commerce, healthcare, EdTech and AdTech areas," the summit organizers said in a statement. Carrier partner Jessica Wong said that a few of the investing delegates were keen on first understanding the Indian market, while others were keen on investing in the start-ups here. "The delegation varies from people who have invested in over 30 companies globally to a few who are here to understand the Indian eco system," she said.

    Participating in the summit, Aarin Capital Partners and former Infosys director T.V. Mohandas Pai said the opportunities for investment in India were immense, as 2,000 start-ups registered across the country in 2015, 1,250 of them got funded. "The start-up revolution shows the potential and scope of the Indian market, with India, China and the US as growth engines in the near future," he said. The IT industry employs about 4.5 million techies across the country.
    "We have decided to make this (summit) a quarterly event to pilot and facilitate the integration and complementation of technology iteration, market exploration, business model upgrade and capital operation between China and India," said Onionfans chief executive Hutu.

    TryKaro.com Chief Executive Brij said the networking opportunity for start-ups like his was encouraging and motivating, as the Chinese investors were keen to hear out and understand Indian products and ideas. "Their feedback is helpful and first-time entrepreneurs benefit from events like these. We have received initial interest from the Chinese delegation and are keen to hear back from them," he added. TryKaro.com is an experiential marketplace that helps consumers to try out products they are keen on buying instead of seeing pictures online.

    The summit was organized by Onionfans, Cyber Carrier, Technology Issue magazine and Xpressn labs

    1. What happened to Trykaro.com in the investment summit organized recently and attended by Chinese investors?

    1. The company did not participate in the summit as it is not registered in India and is not eligible for the event
    2. The company has received initial interest from the Chinese investors though nothing has been finalized yet in the summit
    3. The company is looking forward to the next event as it does not require any funding as of now
    4. The company has not received any expression of interest from the Chinese investors and therefore, they are waiting for the summit to be held next year
    5. Other than those given in options

    Solution: Option (2)

    Explantion: According to the passage, Trykaro.com has received initial offer from the Chinese investors for investment in the company though there has not been any concrete signal from them regarding the same. The company executives have revealed that the investors may get back to then in future and they are looking forward to it

    2. Which among the following best explains the functions of Trykaro.com website?

    1. It is a platform for making available your used goods for others to try out before making a choice
    2. It is a platform that lets you try products before actually buying them instead of just getting to see them online
    3. It is a platform to make things easier for consumers in the sense that it provides a lot of offers to choose from for the consumers
    4. It is a platform to make things easier for working mothers as it offers crèche service to children at affordable prices
    5. Other than those given in options

    Solution: Option (2)

    Explantion: Trykaro.com is a company that has participated in the summit organized and attended by Chinese investors. This has received initial interest from the investors. This company is involved in giving an opportunity to the consumers to try out things before actually buying them instead of just checking the products online as is the case for online companies offering various products

    3. Which among the following companies was / were involved in the process of organizing the summit mentioned in the passage?

    1. Onionfans
    2. Cyber Carrier
    3. Technology Issue Magazine
    4. Both (1) and (2)
    5. All the above

    Solution: Option (5)

    Explantion: The summit has been organized to serve as a platform for Chinese investors to understand the Indian startup market and at the same time, making interests in the companies of their preference. This was organized by Technology Issue Magazine, Xpressn Labs, Cyber Carrier and Onionfans

    4. Which among the following is / are true regarding the summit that has been discussed in the passage?

    1. The summit saw around Rs 350 crore being invested in the Indian startups by more than a dozen investors from China
    2. One of the organizers of the summit was from Hong Kong
    3. Cyber Carrier has started a fund in order to finance Indian startups
    4. Both (1) and (2)
    5. All the above

    Solution: Option (5)

    Explantion: The summit has seen attendance of dozen Chinese investors who were interested in making investments in Indian startup companies and around Rs 334 crore is going to be invested in these companies by the Chinese investors. Cyber Carrier is one of the organizers of the summit and it has already set up a fund of $30 million for six Indian startup companies. It is a Hong Kong based Chinese enterprise.

    5. Which among the following is / are the reasons to make the summit a quarterly one in future in place of the present trend of yearly one?

    1. The summit will see more Chinese companies coming to India and investing in Indian startups thereby making the relationship between the countries better
    2. The summit will see inflow of capital for the startup businesses in the country by Chinese investors
    3. The summit will ensure that technology upgradation takes place in the startup companies so that minimal manual labour is involved
    4. Both (1) and (2)
    5. Both (2) and (3)

    Solution: Option (5)

    Explantion: The summit has been a huge success for the Indian startup companies as well as the Chinese investors since both have got a platform to come together and help each other grow. This has compelled the organizers to make the event a quarterly one since that is going to help in capital generation, technology upgradation and complementation, business ideas sharing and upgradation and market exploration among others.

    6. Which among the following describes the Chinese investors who have attended the summit the best as discussed in the passage?

    1. Chinese investors were mainly financial firms who were interested in making it compulsory for Indian startups to have sound financial background
    2. Chinese companies did not participate to share ideas only but they also invested in certain startups
    3. Chinese companies invested in a number of startups and at the same time, some companies participated in the event only to understand the Indian startup culture
    4. Both (2) and (3)
    5. Other than those given in options

    Solution: Option (3)

    Explantion: The summit has seen presence from various Chinese companies as these companies made a beeline for investing in Indian companies. However, there were companies of both the kinds – companies that invested in more than 30 startups in the country whereas there were some companies who only participated in the event to understand the prevailing culture of ecosystem in India regarding the startup companies.

    7. Which among the following is similar in meaning to the word ‘pitched’ as used in the passage?

    1. Perception
    2. Persuaded
    3. Persisted
    4. Accessed
    5. Other than those given in options

    Solution: Option (2)

    Explantion: The given word in the passage has been used to indicate that the Indian startups made a case for providing them with funds by the Chinese investors participating in the summit. This makes option (2) the right choice among the given options.

    8. Which among the following is similar in meaning to the word ‘keen’ as used in the passage?

    1. Eager
    2. Esoteric
    3. Perpetual
    4. Perceiving
    5. Other than those given in options

    Solution: Option (1)

    Explantion: The word in the passage has been used to indicate that the Chinese investors were both eager to invest as well as understand the Indian startup ecosystem. This makes option (1) the right choice among the given options.

    9. Which among the following is opposite in meaning to the word ‘immense’ as used in the passage?

    1. Tiny
    2. Small
    3. Minimum
    4. Limited
    5. Other than those given in options

    Solution: Option (4)

    Explantion: The given word has been used in the sense that there are several opportunities in the Indian market to invest especially in the startup market of the country. Hence, the opposite word in meaning will be limited since it refers to the limited opportunities prevailing in the Indian startup market. That makes option (4) the right choice among the given options.

    10. Which among the following is opposite in meaning to the word ‘facilitate’ as used in the passage?

    1. Obstruct
    2. Destroy
    3. Detour
    4. Deny
    5. Other than those given in options

    Solution: Option (1)

    Explantion: The given word in the passage means that the summit helps in the flow of ideas and capital among the Indian and Chinese participants. This makes option (1) the right choice among the given options since that means making it difficult for information and capital to flow in either direction.

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