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Directions (111–120) :
In the given passage there are blanks, each of which has been numbered. Against each five words are suggested, one of which fits the blank appropriately. Find out the appropriate word in each case.
If China’s state owned commercial banks seem burdened by bad debts, the country’s rural financial sector is even worse. In the villages, the only formal banking institutions are what are known as rural credit co-operatives. These (111) the distinction in China of having been officially declared insolvent. The rural credit co-operatives are ill named. They are often reluctant to (112) and they are not run as cooperatives as they do not (113) anyprofits and their customers have nosay in their operations. Until 1996,they were offshoots of the Agricultural Bank of China. Since thenthey have been (114) by the Central Bank, though they are in reality run by county governments. Eventhe word ‘rural’ is misleading. (115)of their deposits are sucked up andput in the urban banking system.Farmers usually find it easier to(116) from friends or relatives orblack market moneylenders. Yet theco-operatives remain a big part ofChina’s financial system. Last year,they (117) for 12 percent of deposits and 11 percent of loans. In recent years, commercial banks (including the Agricultural bank) haveclosed down (118) in the countryside. Yet some 40,000 credit co-operatives remain in place with onein almost every township (as thelarger villages or smaller) rural loansare (119). If as the governmentclaims, the credit co-operatives arebeginning to turn a profit after sixyears of losses, it is not because theyare any better run. In an effort to(120) a stagnant rural economy, thecentral bank has pumped more than$
In the given passage there are blanks, each of which has been numbered. Against each five words are suggested, one of which fits the blank appropriately. Find out the appropriate word in each case.
If China’s state owned commercial banks seem burdened by bad debts, the country’s rural financial sector is even worse. In the villages, the only formal banking institutions are what are known as rural credit co-operatives. These (111) the distinction in China of having been officially declared insolvent. The rural credit co-operatives are ill named. They are often reluctant to (112) and they are not run as cooperatives as they do not (113) anyprofits and their customers have nosay in their operations. Until 1996,they were offshoots of the Agricultural Bank of China. Since thenthey have been (114) by the Central Bank, though they are in reality run by county governments. Eventhe word ‘rural’ is misleading. (115)of their deposits are sucked up andput in the urban banking system.Farmers usually find it easier to(116) from friends or relatives orblack market moneylenders. Yet theco-operatives remain a big part ofChina’s financial system. Last year,they (117) for 12 percent of deposits and 11 percent of loans. In recent years, commercial banks (including the Agricultural bank) haveclosed down (118) in the countryside. Yet some 40,000 credit co-operatives remain in place with onein almost every township (as thelarger villages or smaller) rural loansare (119). If as the governmentclaims, the credit co-operatives arebeginning to turn a profit after sixyears of losses, it is not because theyare any better run. In an effort to(120) a stagnant rural economy, thecentral bank has pumped more than
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