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Different types of Grasslands (ENVIRONMENT AND ECOLOGY)

Grassland

Grassland biomes are unaltered areas of land where grass in the dominant plant life, as opposed to other terrestrial biomes where trees occupy most of the land surface. Grassland are found around the globe and have served as grazing areas for a large number of animals, and have been exploited as farming grounds or plantations by humans. They occupy about one quarter of the Earth’s land area. Grasslands are considered the transitional biome and are found between deserts and forests.

They have been divided into follows two parts:

Savannah

Savannah is grassland with scattered individual trees. They cover almost half the surface of Africa and large areas of Australia, South America, and India, Climate is the most important factor in creating a Savannah. These are always found in warm or hot climate where the annual rainfall is from about 40 to 80 cm per year, Savannah has both a dry and a rainy season. The soil of the savannah is porous, with rapid drainage of water. It has only a thin layer of humus, which provides vegetation with nutrients. The predominant vegetation consists of grasses and forbs (small broad-leaved plants that grow with grasses). Different savannas support different grasses due to disparities in rainfall and soil conditions. Seasonal fires Play a vital role in the savannah’s biodiversity. The world’s greatest diversity of ungulates (hoofed mammals) is found on the savannas of Africa and hence they are also called The big game country.

English Grammer- Adjectives

Adjectives

What are Adjectives

An adjectives are words which are used to point out or describe a person or thing, animal, place and which describe or modify nouns are known as Adjectives.

Examples :

Sizes : big, small, large, thin, thick
Shapes : triangular, round, square, circular
Colors : black, blue, white, green, red
Personality : happy, sad, angry, depressed
Time : Yearly , monthly, annually
Ages : new, young, old, brand-new, second-hand
Sounds : Loud, noisy, quiet, silent
Tastes : juicy, sweet
Qualities : good, bad, mediocre etc.

Now in a sentence –
Ex – ‘My mother was angry on me.’
In this sentence, the word ‘angry’ is the adjective. It is used to describe about the noun ‘mother’.

There are five types of adjectives. 

1. Adjective of quality

2. Adjective of quantity

3. Adjective of number

SH- Current Affairs Update 03rd, Feb 2018

Dear Aspirants, 

INTERNATIONAL

India joins Ashgabat agreement

India has joined the Ashgabat agreement which envisages setting up of an international transport and transit corridor linking central Asia with the Persian Gulf to significantly ramp up trade and investment.

• Turkmenistan, as depository State of Ashgabat Agreement, informed on February 1 that all the four founding members have consented to the Accession of India.
• Turkmenistan, Iran, Oman and Uzbekistan signed the agreement on April 25, 2011.
• In October 2016, Pakistan had formally joined the project. Kazakhstan is also a part to this agreement.

NATIONAL

PM to address the inaugural session of Advantage Assam - Global Investors Summit

The Prime Minister, Shri Narendra Modi, will address the inaugural session of Advantage Assam - Global Investors Summit 2018, in Guwahati on February 3, 2018.

• The two-day Summit will be the largest ever investment promotion and facilitation initiative by the Government of Assam.
• The Summit aims at highlighting the geo-strategic advantages offered to investors by Assam.

Yogi Adityanath inaugurates Surajkund Mela in Haryana

Uttar Pradesh Chief Minister Yogi Adityanath inaugurated the Surajkund Mela on 2 February, in the presence of Haryana Chief Minister Manohar Lal Khattar.

• The 17-day-long event, which is in its 32nd edition, showcases India’s rich cultural diversity, crafts and handiworks.
• The Mela this year has the culture of Uttar Pradesh as its theme and focuses upon child rights violations across India.
• All of India’s states and 20 countries are participating in the festival.
• Surajkund is located in Faridabad in Haryana.

Centre sanctions Rs 1,500 cr for organic farming in Uttarakhand

The Centre has sanctioned Rs 1,500 crore for three years to promote organic farming in Uttarakhand.

• The amount was sanctioned by Union Agriculture Minister Radha Mohan Singh when Chief Minister Trivendra Singh Rawat met him in New Delhi.
• The Union minister also cleared a proposal worth Rs 2,600 crore for the co-operative sector in the state. Of which, Rs 200 crore is meant for the reorganisation of sugar mills.

SH- Current Affairs Update 01st, Feb 2018

Dear SH Aspirants,

Study Daily Current Affairs and stay updated as well as prepare for General Awareness section of bank exams. It's time to gear up your preparations for IBPS/RBI/SBI/SSC and with the daily dose of current affairs, you can easily prepare G.A and score well.

NATIONAL AFFAIRS

7th India Energy Congress begins in New Delhi
7th India Energy Congress focusing on the theme ‘Energy 4.0: Energy Transition Towards 2030’ begun in New Delhi on February 1, 2018.
Highlights of 7th India Energy Congress:
i. India Energy Congress is the flagship event of World Energy Council India (WEC India), which functions under the Union Power Ministry.
ii. 7th India Energy Congress has been jointly organised by Union Ministries of Power, Coal, New & Renewable Energy, Petroleum & Natural Gas, External Affairs and Department of Atomic Energy.
iii. On February 1, 2018, Power and New & Renewable Energy Minister addressed the inaugural session of 7th India Energy Congress.
iv. Over the course of this two-day event, around 400 experts will deliberate on five sub-themes viz. Policy and Energy Environment 2030, Sustainable Mobility, Energy Investments in an Uncertain World, Variable Renewable Energy Integration and Reaching the Last Mile.

AP CM Naidu lays foundation for Universal Peace Retreat Center in Amaravati
On February 1, 2018, Andhra Pradesh Chief Minister Chandrababu Naidu laid the foundation stone for the Universal Peace Retreat Center of ‘Prajapita Brahmakumari Eswariya University’ in Amaravati.

Details about Universal Peace Retreat Center:
i. This Center will be built on 10 acres of land at Nekkollu village within the Amaravati Capital Region. The land has been allotted by Andhra Pradesh State Government.
ii. Raja yoga and Dhyana will be taught at the Center. Besides, the center will be involved in propagating youth development, women empowerment, child care, and moral values.
iii. Universal Peace Retreat Center will have capacity to provide shelter to 1500 people.
iv. Other amenities that will be set up at the Center include an auditorium with 2000 seating arrangement, meditation hall, a museum, laser show and a housing complex.

SH- Current Affairs Update 31st, Jan 2018

Dear SH Aspirants,

Study Daily Current Affairs and stay updated as well as prepare for General Awareness section of bank exams. It's time to gear up your preparations for IBPS/RBI/SBI/SSC and with the daily dose of current affairs, you can easily prepare G.A and score well.

INDIAN AFFAIRS

Bihar cabinet grants Rs 105 crore for Bihar Mahadalit Vikas Mission
On 30^th January 2018, the Bihar cabinet allocated funds worth Rs 105 crore for Bihar Mahadalit Vikas Mission, which formulates and implements schemes for the most backward sections among the Scheduled Castes.
Rs 105 crore for Bihar Mahadalit Vikas Mission:
i. This was declared in a Bihar cabinet meeting headed by Bihar Chief Minister Nitish Kumar.
ii. The Bihar Mahadalit Vikas Mission was established in 2008. It is an autonomous body and functions under the SC/ST Welfare Department.
iii. In the cabinet meeting, it was also decided to construct a high security jail in Phulwarisharif block of Patna. The construction of this jail would cost around Rs 56.72 crore. Maoists and dangerous criminals will be held in this jail.
Some wildlife sanctuaries in India:
Vikramshila Gangetic Dolphin Sanctuary – Bhagalpur District
Udaypur Wildlife Sanctuary – West Champaran District
Kaimur Wildlife Sanctuary – Kaimur District

Uttar Pradesh launches Mukhyamantri Awas Yojana Gramin
On January 30, 2018, Uttar Pradesh State Cabinet launched ‘Mukhya Mantri Awas Yojna Grameen’, a new scheme to construct houses in rural areas.

About Mukhyamantri Awas Yojana Gramin:
i. Mukhyamantri Awas Yojana Gramin is for those who have not been covered under Pradhan Mantri Awas Yojna and those who are not beneficiaries of any other government housing schemes.
ii. Under this scheme, Rs 1.30 lakh financial aid (for constructing houses) will be given to people residing in Naxal-affected areas of Uttar Pradesh and Rs 1.20 lakh to selected beneficiaries.
iii. Beneficiaries under this scheme also includes those families, who have been affected with Kala Azar or Japanese Encephalitis and those who belong to Vantangia or Musahar tribes and do not have houses or are living in “Kuchcha” houses.
iv. Uttar Pradesh State Government has already identified about 25000 beneficiaries for this scheme.
Quick Facts about Uttar Pradesh:
♦ Capital – Lucknow
♦ Current Governor – Ram Naik
♦ Current Chief Minister – Yogi Adityanath
♦ Important National Park – Dudhwa National Park

Maharashtra government to give sanitary pads to 7 lakh girls at Rs 5 a pack
On 30^th January 2018, the Maharashtra state cabinet approved the introduction of Asmita (dignity), a scheme to provide sanitary pads to 7 lakh girls in government schools for Rs 5 a pack.
Asmita:
i. The scheme Asmita aims to provide sanitary pads at subsidized price to girls in the age of 11 to 19 years.

SH- Current Affairs Update 30th, Jan 2018

Dear SH Aspirants,

Study Daily Current Affairs and stay updated as well as prepare for General Awareness section of bank exams. It's time to gear up your preparations for IBPS/RBI/SBI/SSC and with the daily dose of current affairs, you can easily prepare G.A and score well.

INDIAN AFFAIRS

AAI allocates 3,400 crore for upgradation of airports in North East region
On 29^th January 2018, Airports Authority of India (AAI) chairman Guruprasad Mahapatra said that, AAI has allocated Rs 3400 crore for upgradation of airports in the North East region.
AAI – 3,400 crore for upgradation of airports in North East region:
i. Out of the total allocated amount, the share for each state is as follows: Assam – Rs 1720 crore, Tripura – Rs 525 crore, Manipur – Rs 800 crore, Nagaland – Rs 42 crore, Arunachal Pradesh – Rs 211 crore and Mizoram – Rs 60 crore.
ii. Projects worth Rs 934 crore have already been finished. The remaining part is planned to be completed in two to three years.
iii. Among the work to be done, is a new integrated airport construction at Agartala in Tripura. Also, an Instrument Landing System (ILS) will be installed at the Shillong airport, in Meghalaya.
About Airports Authority of India (AAI):
♦ Headquarters – New Delhi
♦ Founded – 1995
♦ Chairman – Dr. Guruprasad Mohapatra

Indian, Vietnamese armies hold first military exercise ‘VINBAX’
On January 29, 2018, armies of India and Vietnam began ‘VINBAX’, a six day-long military exercise in Jabalpur, Madhya Pradesh.

i. Vietnam – India Bilateral Army Exercise (VINBAX) is the first military exercise between India and Vietnam.
ii. Defence ties between India and Vietnam have strengthened in recent times with the primary focus being cooperation in the maritime domain.
iii. With the first protocol on defence cooperation signed in 1994, India and Vietnam have been periodically elevating their defence cooperation since then.
iv. In 2007, the ties were elevated to strategic level and thereafter a pact on boosting bilateral defence cooperation was signed in 2009.
v. In 2016, India-Vietnam strategic partnership was elevated to a comprehensive strategic partnership 
Quick Facts about Vietnam:
♦ Capital – Hanoi
♦ Currency – Vietnamese Dong
♦ Current President – Tran Dai Quang
♦ Important Rivers – Red River, Perfume River

Acid attack victims to get quota in central government jobs
The Department of Personnel and Training (DoPT) has issued an order to provide quota in Central Government jobs to people with autism, mental illnesses, intellectual disability and victims of acid attacks.
Quota for Acid Attack victims in Central Govt. Jobs:
i. Now onwards, in case of direct recruitment, four per cent of the total number of vacancies, (up from the existing three per cent) shall be reserved for people with benchmark disabilities.
ii. A person with not less than forty per cent of a specified disability is to be considered as having benchmark disability.
iii. As per the new order, central government departments have been directed to ensure that one per cent of each posts be reserved for people with blindness and low vision, deaf and hard of hearing, locomotor disability including cerebral palsy, leprosy cured, dwarfism, acid attack victims and muscular dystrophy.

Static GK Awareness- SSC/SBI Clerk/Railways

BOUNDARIES BETWEEN COUNTRIES

1. Line of Actual Control: India & China on the Northern Border
2. Line of Control: India and Pakistan
3. Durand Line: Afghanistan and Pakistan
4. Radcliffe Line: India and Pakistan (its includes Bangladesh Line)
5. Blue Line: Israel & Lebanon
6. Purple Line: Israel and Syria
7. Green Line: Israel and its neighbours
8. (Egypt, Jordan, Lebanon and Syria)
9. Mason-Dixon Line: Maryland and Pennsylvania/Delaware in Colonia America
10. Curzon Line: Poland & Russia
11. Military Demarcation Line (MDL) or
12. Armistice Line: North Korea and South Korea
13. McMohan Line:Northe east India &Tibet
14. Maginot Line:France& Germany
15. Mannerheim line: Russia & Finland
16. Order Neisse Line: Germany & Poland
17. (aftermath of World War II)

ENGLISH READING COMPREHENSION for Syndicate Bank/Canara Bank

Dear SH Aspirant,

We have been providing questions for the IBPS Clerk Mains Exam 2017 and for the IBPS SO Prelims Exam from the important topics of all the sections, which would enhance your preparations for those exams. Solve the questions below which are asked in the IBPS Clerk Prelims Exam, so that this will improve your preparations for the exams.

Solve these questions, so that you do not need to fear for the English section in the forthcoming exams. This question set is a mix of Reading Comprehension and Filler Type questions, which are asked in the recent examinations, attend these questions and conquer the section of English language.

R.C 1-10): Read the following passage carefully and answer the questions given below it. One word is given in bold to help you locate that while answering a question.

The 10th anniversary of the Great Recession, a.k.a. the Great Financial Crisis of 2007-08, has inspired a spate of comments across the globe. Almost without exception, they warn that the lessons of that financial crisis have not been absorbed, and another giant financial bubble is currently inflating its way to another huge bust. Yet, this near-unanimous chorus of warnings has not stopped stock markets across the world from reaching new heights. Greed is drowning out fear. Many busts are caused by central banks tightening money. Today, we have the opposite: the greatest flood of money ever created (over $10 trillion, according to some estimates). The central banks of the US, China, Europe, Japan and Britain are at the forefront. What happens when these central banks try to return to normal, and the giant flood becomes giant ebb? Optimists claim that central banks can manage the transition smoothly. The US Fed plans to move in baby steps, announcing its intentions well in advance to avoid panic. This assumes that markets are rational, when they are mainly creatures of panic and euphoria, boom and bust. Much has been written about the printing of trillions of dollars by the US Fed after 2008. But the others are not far behind. A recent Financial Times column noted that the Bank of England, created in 1694, had a bank rate of around 4% through most of its history. This fell to 2% in the Great Depression, then rose and peaked at 17% in the inflationary 1970s, before returning to the historical 4%. After 2008, an unprecedented monetary stimulus has reduced the Bank rate to 0.25% today. The Bank has also bought £445 billion (about Rs 36,900 billion) worth of securities by printing money. This enormous stimulus has neither led to a boom in GDP nor in consumer prices. Instead, like stimuli in other countries, it has created a giant bubble in assets like bonds, equities and real estate. Many financial analysts fear that the next bust may come not from Western central bank action but from China. This country encouraged a lending boom to rescue the economy after 2008. But that now seems out of control. China’s debt has exploded from $6 trillion to $28 trillion, and its ratio to GDP is up from 140% to 260%. James Anderlini of the Financial Times (‘China’s economy is addicted to debt’, goo.gl/McRV96) says this has created “an economy addicted to borrowing and afflicted with serious asset bubbles. The ultimate test will come when Beijing eventually attempts to wean the country off this debt dependence.” Historically, bonds and equities have moved in opposite directions. Today, both are at all-time highs. Not because this makes economic sense, but because the tidal wave of central bank money has to be put somewhere. So, financiers are plunging into bonds and equities simultaneously, as in the bad old days of 2003-08. They are also plunging into junk bonds, and even junk countries. Argentina has repeatedly defaulted on its foreign debts in the last 100 years. Yet, in the current financial madness, it has successfully sold 100-year bonds, a privilege once restricted to the most creditworthy nations. Mohammed El-Arian, chief economic adviser of Allianz, complains of a “liquidity delusion” that cheap money will continue to flood in forever. So, there is too much risk in soaring markets.

Such a huge bubble typically occurs when three things happen simultaneously. One, the arrival of an exciting new ‘disruptive’ technology that is difficult to value in the short term, but has huge potential. The second is easy market liquidity to help investors roar into markets. The third is cheap credit. All three elements are in evidence today. The new technologies include electric cars, hyperloops, artificial intelligence and companies with ‘network effects’ (like Uber, Facebook and Amazon). Liquidity is massive and cheap. (Some bonds carry negative interest rates.) Ruchir Sharma of Morgan Stanley says “the scale of today’s tech boom is not readily visible because much of the investment action has moved into the hands of big private players. In 1999, nearly 550 startups went public, and after many ended in disaster, the government tightened regulation of public companies. In part to avoid that red tape, this year, only 11 tech companies have gone public.” “Many are raising money instead from venture capitalists or private equity funds. Venture capitalists have poured more than $60 billion into just the technology sector every year for the last three years — the highest flows since the peak in 2000 — and private equity investors say there has never been a better time to raise money.” Many hyped companies (now called ‘unicorns’) have never made a profit. Yet, investors have thrown huge sums at them, raising their valuations above $1 billion each. The world now has over 260 unicorns, including many in India. A bust is certain everywhere (including India). But nobody knows when. The 2003-08 boom proved that markets could soar for years after being declared irrationally exuberant. Cynics are still buying, hoping to double their money before the bubble bursts. It’s a risky strategy.

Q.1) The underlying tone of the passage is understood to be one of:

a) Emphasis

b) Gloom

c) Uncertainty

d) Optimism

e) Prudence

Q.2) The acceleration in stock markets, for long years, not conforming to rational belief often happens under which of the following circumstances?

a) Prior to an economic gloom.

b) After an economic gloom.

c) After rate cuts imposed by a central Bank.

d) When prices of commodities stabilize.

e) When bonds and equities move in the opposite direction.

Quantitative Aptitude Questions for SYNDICATE/CANARA BANK/SSC-CHSL

Dear Aspirants,

Quantitative Aptitude is a very important section you must prepare if you are aiming for a job in Bank or Insurance sector. These two weeks are very important as IBPS-SO 2017 are lined up. So, these 15 questions can help you practice three very important topics of Quant Section.

Directions (1-5): What should come in place of the question mark (?) in following number series problems?

Q1. 4,  8,  ?,   42,   91,   212

(a) 16

(b) 34

(c) 25

(d) 22

(e) 17

Q2. 5616,   1872,   468,   156,?,   13

(a) 39

(b) 52

(c) 26

(d) 65

(e) 78

Q3. 10,   14,   25,   55,   140,   ?

(a) 386

(b) 398

(c) 388

(d) 396

(e) None of these

Q4. 28,   16,   28,   76,  ?

(a) 269

(b) 274

(c) 351

(d) 243

(e) None of these

Q5. 7,   9,   19,    18,    31,   27,   ?

(a) 59

(b) 56

(c) 43

(d) 71

(e) None of these

SH- Current Affairs Update 25th, Jan 2018

Dear SH Aspirants,

Study Daily Current Affairs and stay updated as well as prepare for General Awareness section of bank exams. It's time to gear up your preparations for IBPS/RBI/SBI/SSC and with the daily dose of current affairs, you can easily prepare G.A and score well.

INDIAN AFFAIRS

Government announces 4 new schemes to promote young scientists

On January 24, 2018, Central Government launched four new schemes to promote young scientists and researchers in India. All the schemes focus on empowering, recognising and motivating youth.

i. Teacher Associateship for Research Excellence (TARE) Scheme will connect the educators to leading public funded institutions like Indian Institute of Technology (IIT), Indian Institute of Science (IISc) or national institutions like Council of Scientific & Industrial Research (CSIR)to pursue research.

ii. Overseas Visiting Doctoral Fellowship scheme, support will be offered to 100 PhD scholars for training at foreign universities/laboratories up to 12 months during their doctoral research.

iii. Distinguished Investigator Award scheme, 100 fellowships will be offered to principal investigators of Science and Engineering Research Board/Department of Science and Technology projects.

iv. Augmenting Writing Skills for Articulating Research (AWSAR) scheme aims to encourage science writing.

International Conference on ‘Inclusion of Persons with Disabilities in the Election Process’ in New Delhi

On January 24, 2018, Election Commission of India (ECI) hosted a one-day International Conference on ‘Inclusion of Persons with Disabilities in the Election Process’ in New Delhi.

ighlights of International Conference on ‘Inclusion of Persons with Disabilities in the Election Process’:

i. The Conference was organized under the VoICE.NET platform, a common knowledge/resource sharing network for 25 Election Management Bodies and International Organisations.

ii. It was attended by representatives from five Election Management Bodies (EMBs) viz. Australia, Guinea, Bhutan, Moldova & Zambia and Heads of two International Organisations viz. International Institute for Democracy and Electoral Assistance (IDEA) and International Foundation of Electoral Systems (IFES).

iii. During the conference, representatives from EMBs and international organisations shared their experiences, initiatives and best practices for electoral engagement, enrolment and active participation of Persons with Disabilities in ballot exercise.

iv. On the sidelines of the Conference, ECI signed Memorandum of Understanding (MOU) for cooperation in the field of election management with Central Election Commission of Moldova, with National Independent Electoral Commission (CENI) of Guinea and also with International Institute for Democracy and Electoral Assistance.

India, Vietnam sign MoUs on I&B, space cooperation

On January 24, 2018, India and Vietnam signed Memorandum of Understanding (MoU) to cooperate in the areas of Information & Broadcasting (I&B) and space.

Details about India-Vietnam MoU:

i. MoU documents were exchanged in presence of Prime Minister Narendra Modi and his Vietnam counterpart Nguyen Xuan Phuc in New Delhi.

ii. Under the MoU, India and Vietnam will strive to enhance cooperation in the field of Information and Broadcasting based on principles of equality and in accordance with their national laws and regulations.

iii. In area of space cooperation, India and Vietnam have agreed on the implementation arrangement between Vietnam’s National Remote Sensing Department and Indian Space Research Organisation (ISRO) for the establishment of tracking and data reception station and data processing facility in Vietnam. This arrangement will be set up under the ASEAN-India Space Cooperation.

Quick Facts about Vietnam:

♦ Capital – Hanoi

♦ Currency – Vietnamese Dong

♦ Current President – Tran Dai Quang

♦ Important Rivers – Red River, Perfume River

Government to increase number of ‘AMRIT’ pharmacy stores 4 times

Union Health Minister, J P Nadda has stated that his ministry is working to increase the number of AMRIT pharmacy stores by four times (from the existing 111 outlets) by the end of 2018.

About AMRIT Pharmacy stores:

i. Since November 2015, Union Ministry for Health & Family Welfare has opened several Affordable Medicines and Reliable Implants for Treatment (AMRIT) pharmacy stores across India with an aim to reduce the expenditure incurred by patients on treatment of cancer and heart diseases.

ii. According to Mr. Nadda, AMRIT stores have benefited over 52 lakh patients as medicine buyers have saved over Rs 267 crore by buying drugs from these stores.

iii. In order to help more patients, Health Ministry is working for opening more such stores. Mr. Nadda has stated that the goal is to have one AMRIT store in every district of India.

Current Affairs Update 28th -30th November, 2017

Dear SH Aspirants,
Study Daily Current Affairs and stay updated as well as prepare for General Awareness section of bank or ssc exams. It's time to gear up your preparations for IBPS PO/ RRB PO/ SBI PO/ RBI SSC EXAMS and with the daily dose of current affairs, you can easily prepare G.A and score well.

CurrentAffairs November 28, 2017

CurrentAffairs November 29, 2017

CurrentAffairs November 30, 2017

RC IBPS CLERK/PO/SBI PO/RBI/SSC

Directions (1-10): Read the following passage carefully and answer the following questions given below it.

Today, with a Noble prize to its credit, Grameen is one of the largest microfinance organisations in the world. It started out lending small sums to poor entrepreneurs in Bangladesh to help them grow from a subsistence living to a livelihood. The great discovery its founders made was that even with few assets, these entrepreneurs repaid on time. Grameen and microfinance have since become financial staples of the developing world. Grameen’s approach, unlike other microfinanciers, uses the group-lending model. Costs are kept down by having borrowers vet one another, typing together their financial fates and eliminating expensive loan officers entirely. The ultimate promise of Grameen is to use business lending as a way for people to lift themselves out of poverty.

 Recently Grameen has taken on a different challenge – by setting up operations in the US. Money may be tight in the waning recession, but it is still a nation of 1,00,000 bank branches. Globally, the working microfinance equation consists of borrowing funds cheaply and keeping loan defaults and overhead expenses sufficiently low. Microlenders, including Grameen, do this by charging colossal interest rates – as high as 60% or 70% - Which is necessary to compensate for the risk and attract bank funding. But loans at rates much above the standard 15% would most likely be attacked as usurious in America.

So, the question is whether there is a role for a Third World lender in the world’s largest economy. Grameen America believes that in a few years it will be successful and turn a profit, thanks to 9 million US households untouched by mainstream banks and 21 million using the likes of payday loans and pawn ships for financing. But enticing the unbanked won’t be easy. After all, profit has long eluded US microfinanciers and if it is not lucrative, it is not microlending, but charity. When Grameen first went to the US, in the late 1980s, it tripped up. Under Grameen’s tutelage, banks started microloans to entrepreneurs with a shocking 30% loss. But Grameen America says that this time results will be different because Grameen employees themselves will be making the loans, not training an American bank to do it. More often than not, the borrowers, Grameen finds, in the US already have jobs (as factory  workers for example) or side businesses – selling toys, cleaning houses etc. The loans from Grameen, by and large, provides the steadier source of funding, but they don't create businesses out of anything. But money isn’t everything. More importantly for many entrepreneurs, group members are tremendous sources of support to one another. So even if studies are yet to determine if Grameen is a clear-cut pathway out of poverty, it still achieves something useful.

Q1. What has adversely affected the success of microfinance institutions in the US?

(a) The focus of these institutions is on making a profit at any cost instead of being charitable to the needy.

(b) American banks engaged in microlending were the most severely hit during the recession.

(c) A widespread perception among bankers that these institutions are better suited to developing countries.

(d) Their failure to attract those outside the formal banking system as customers

(e) Americans are too proud to accept aid from Third World countries.

Q2. Why has Grameen made a second attempt to launch itself in the US?

(a) The willingness of US banks to provide the necessary staff and funds to facilitate the spread of microfinance

(b) The rates of interest on loans in the US are exorbitant, making it easier to recover capital.

(c) The realization that a large percentage of the American population not reached by mainstream banks can be trapped

(d) Recognition of the fact that disbursing credit in developing countries during the recession is too risky.

(e) None of these