K.SATISH KUMAR MCA, LLB & IAS ASPIRANT G.K. FACULTY OF T.I.M.E. VIZAG 530026 Mail: satishkumar.k18@gmail.com/facebook.

.com Ph: 8686299233

Banking Bits 2013-14

1st bank to open a branch in Dharavi of Mumbai (One of Asias biggest slums) is Indian Bank 1st Indian bank to be listed on New York stock exchange / NYSE is ICICI bank 1st bank to provide internet banking service in India was ICICI bank 1st Indian bank to open a branch outside India was Bank of India The bank with maximum number of foreign branches is Bank of India Indias 1st bank to provide credit card services is Andhra Bank Indias 1st public sector bank to obtain license from RBI to start internet banking is Punjab National Bank Indias 1st indigenous NBFC which is promoted as private sector commercial bank in India is Kotak Mahindra Bank The bank which has humped bull of Mohenjadaro as its logo and has a name associated with the Indus valley civilization / IVC is IndusInd Bank The bank which was honoured when Mahatma Gandhi inaugurated its branch was Union Bank of India The maximum network of branches in India among foreign banks is Standard & Chartered Bank which is largest foreign bank operating in India Indias largest public sector commercial banks across all categories in terms of number of branches are State Bank of India, Punjab national bank & Bank of Baroda respectively Indias largest private sector commercial banks across all categories in terms of number of branches are ICICI, HDFC & Axis bank (UTI / Unit Trust of India bank @ old name) respectively Japan introduced Card-less ATM in 2012 as 1st country in the world Australia introduced Plastic currency in the world South Africa has become only 2nd country in the world after India to have their Father of Nation (Nelson Mandela) image on all of their currency denominations Worlds largest commercial bank is City Group Bank of USA 100% banking district in India is Palakkad in Kerala 100% computer literacy district in India is Palakkad in Kerala According to RBI Guidelines, 500 crore paid up capital is required to set up a new commercial bank while 50 crore paid up capital is required to set up a new NBFCs in India at present

 100 crore paid up capital is required to set up a new white labelled ATMs by NBFCs in India at present The concept of Grameena Bank founder is Nobel Laureate Mohammed Yunus of Bangladesh RBI was unveiled 5/- coin to commemorate iconic freedom Fighter & Martyr of India Shaheed Bhagat Singh Education loan is the amount that provide for the students by the banks The maximum amount denomination note circulated in India 1000 rupee note If foreign currency increases then rupee value depreciates Maximum number of members in Self Help Groups / SHG is 20 One can file a complaint before the banking ombudsman if the reply is not received from the bank within a period of 30 days / 1 month Committee on computerization in banking chairman is C. Rangarajan The fastest mode of withdrawal of money if we are in need of cash in Odd hours is ATM / Automated Teller Machine Operating hours of bank locker is only during business hours Notaphily means the study and collection of paper currency & bank notes Credit cards works on the principal of Buy Now Pay Later The depreciation in the value of rupee could create repayment woes for corporate entities when raise overseas debts by the ways of ECBs The cheaper loan provided by the banks is crop loan Exports A/c for maximum foreign earning in India RBI has launched branch bank locator which is a dynamic database that gives information on location of branches of a bank Government share holding in public sector banks cannot be below 51% Budget deficit means an excess of expenditures over revenues Former RBI Deputy Governor Shyamala Gopinath headed the Committee to review the structure of national small savings fund CRR is maintained in the form of Cash balances with RBI Base rate is the minimum interest rate fixed by individual banks below which they cannot lend funds Reverse repo rate is the rate at which banks lend their surplus funds to RBI Depreciation means reduction in the value of an asset as a result of wear and tear Deficit financing means the government borrows money from the RBI Carbon credit is connected with environment protection issues The security paper is used for printing currency notes at security paper mill located in Hoshangabad, Madhya Pradesh Money lenders is a non-institutional source of credit All private sector banks are eligible to handle central and state government business as agents of the Reserve Bank of India, at par with public sector banks

The first state in the country to issue e-stamp papers in all denominations is New Delhi Credit card is a plastic money Bull & Bear are used in stock markets Short term lending rate of RBI is Repo rate

1st women finance secretary was SUSHMA NATH. IMF issuing ISDR/IMF SPECIAL DRAWING RIGHTS/PAPER GOLD OF IMF since 1991. RBI directed to the bankers to provide compensation to the customers for the amounts that are wrongfully debited from their a/cs in the failed ATM transactions within 7days/1weak after an a/c holders complaint or else they have to pay 100rs. Per da y as compensation to the customers The main source for foreign income in India is FDI / Foreign Direct Investment Capital gain means money earned from stocks Exchange rate is applicable on foreign currency is converted into local currency Lock-in period related to loans is the loan that must be returned during the period i.e., the time period during which the lender has guaranteed an interest rate to a borrower CSO / Central Statistics Office compiles the index of industrial production (IIP) Core industries in India includes cement, coal, crude oil, steel, electricity, fertilisers, refinery products & natural gas UIDAI has launched a micro ATM that would enable beneficiaries like MGNREGA workers with Aadhar to withdraw money near their doors through core banking system RBI introduced CRAR system / Capital-to-Risk Weighted Assets Ratio system for banks in India in 1992 in accordance with the standards of BIS / Bank of International Settlements as a part of the financial sector reforms Most of the Indian private sector commercial banks which are existing and operating at present in India were set up during the period from 1992-1997 RBI introduced BOS / Banking Ombudsman scheme in 1995 which means a person to whom customers can approach and redress his / her grievances / complaints was revised in 2002 Note: - The concept of Banking Ombudsman that means a group of extraordinary persons was borrowed from Sweden Banking Ombudsman was established as Quasi-Judicial authority with the effect from 1st January, 2006 which replaced & superseded Revised BOS, 2002 Mergings / Amalgamations of the banks State of Bikaner & State bank of Jaipur were amalgamated into State bank of Bikaner & Jaipur in 1963 by reducing SBI associate banks to 7 banks New bank of India was merged with PNB due to incurrence of huge losses in 1993

NOTE:

Global Trust bank (New generation private bank) was amalgamated with Oriental Bank of Commerce (Public Sector) on 14th August, 2004 State bank of Saurashtra (Gujarat) was merged with State Bank of India in 2008 due to incurrence of huge losses by reducing SBI associate banks to 6 banks State bank of Indore (Madhya Pradesh) was merged with State Bank of India on 26th August, 2010 due to incurrence of huge losses by reducing SBI associate banks to 5 banks at present Bank of Rajasthan was merged with ICICI bank in 2010 Centurion bank of Punjab was merged with HDFC bank in 2010 In late 2011, RBI deregulated Savings Bank rate and Base Rate / minimum benchmark lending rate from its purview / control i.e., commercial banks are allowed freely to fix their savings bank rates as well as base rate. 25 paise coin was terminated by RBI from circulation on 30th June, 2011 50 paise coin is known as legal tender money in India Validity of Cheques & DDs has been reduced to 3 months from 6 months by RBI with effect from 1st April, 2012 In early 2012, RBI decided to align bank rate with the revised MSF rate / Marginal standing facility rate. Industrial and Commercial bank of China has more number of branches in the World which was followed by State Bank of India Worlds Largest Commercial Bank is Citi Group Bank of America

Indian banks continued to expand their presence in overseas/abroad with their operating n/w of 234 offices approximately by 22 Indian banks (16 public sector & 6 private sector banks) The father of macro economy who wrote the book PURCHASING POWER OF MONEY was JOHN MAYNARD KEYNES. RBI introduced 10 rupees & 1000 rupees plastic currency notes in 2011. 1st country in the world to introduce plastic currency is Australia. 1st central bank in the world is SWEDISH RIGGS bank in 1656. Bank of france was estd. In 1880 by ANNA DORBIN as central bank in franve which was later continued by NEPOLIAN. USA central bank is federal reserve which was estd. In 1914. RBI issued 150 rupees coin to commemorate 150th birth anniversary of GURUDEV RABINDRANATH TAGORE & INCOME TAX dept. in 2011. RBI issued 1000rs coin to commemorate 1000th anniversary of BRIHADEESWARA TEMPLE in 2011. Banning of notes above 100 dolor in 1969 by USA president-NIXON.

RBI & SEBI -- Current Affairs -- Notes RBI has set up a $2Bn swap facility for SAARC Nations to Available in Foreign currency & Indian Rupee i.e. Swap Facility is offered in US dollars / Euros / Indian Rupee against Domestic Currency / domestic Currency Denominated in Govt securities of the Requesting Nation RBI Increased the Limit of Export Credit Refinance from 15% of outstanding Export Credit of the Banks to 50% to Increase Credit Flow to Exporter Sector by the Banks. RBI meeting of 1993 gave Order for Printing Mahatma Gandhis Image on Indian Currency notes RBI removed Foreclosure Charges / Pre-Payment Penalties on Pre-closure of Home loans on Floating Point basis with the effect from 5th June,2012 RBI told Banks Necessarily maintain a Minimum Daily balance of 99% of CRR Requirements which up from 70% RBI directed FIIs must have a Mandate from PN(Participatory Notes) / ODI( Overseas derivative instrument) holder for the Purpose of Hedging RBI asked authorities / nominated Banks & Gold trading agencies to Ensure that at Least 20% of Every Lot of Imported Gold in All Forms & Purity is made available Exclusively for Purpose of Exports i.e.20% of Imported Quantity of Gold would have to be kept in Customs Bonded Warehouses. RBI made it Clear that Import of gold Under any Scheme have to Follow 20:80 Formula RBI Rejected $2Bn / 1200Crore sale of Scheduled 91-day & 182-day maturity Treasury Bills Due to Price Clash New Generation private Banks --ICICI,HDFC & Axis bank & PSU Banks SBI,BOB ,CB are Fined 3Crore each by RBI for Violating KYC Norms / Anti- Money laundering Measures by 22 Banks RBI Banned Banks from Proprietary Trading in Domestic Currency Futures & Options/Currency Derivatives / Exchange Traded currency Options markets while SEBI Increased Margin requirement on Domestic Dollar-Rupee Forward Trade/ Currency Derivative market RBI allowed NBFCs Categorised as AFCs / Asset Finance Companies by RBI to Avail of ECBs Market under Automatic Route with minimum average maturity of 5Yrears to Finance Import of Infrastructure Equipment for Leasing to Infrastructure Projects . ECBs by AFCs Above 75% of their Net-Owned Funds will be Considered under Approval Route & Currently Risk of such ECBs is required to be Fully Hedged

RBI said Banks would Not be Allowed to give loans against Units of Gold ETFs as they are backed by the Bullion & Primary Gold RBI Also said that while giving Loans against Gold Coins Sold by the Banks , Lenders should Ensure the Weight of Gold Coins does not Exceed 50 Grams per Customer RBI said NBFCs Should Not Give Loans for the Purchase of Gold in Any Form Including Primary Gold , Bullion , Jewellery Coins, Units of Gold ETFs & Units of Gold Mutual funds ECB Norms for Low Cost housing Projects Eased by RBI as Developers / Builders should have a Minimum of 3Years Experience in Undertaking Residential Projects as against 5Years Earlier & Also withdrawn the condition of Minimum Paid-up Capital Requirement of NOT Less than 50Crore for HFCs / Housing Finance companies to avail themselves of ECBs RBI to sell G-secs for 25,000Crore in OMO under Special Repo Auction @10.25% through price Method for Banks which to Lend to Mutual funds RBI directed Lending Against Gold Coins up to 50Grams Only by Banks & Restricting them to Finance Import of Precious metal Only for Gold Jewellery Exporters RBI Decided to Let AMC / Authorised Money Chargers to sell Indian Rupees to Foreign Tourists / Visitors against their International Credit / Debit cards to Obtain Indian Rupees RBI Directed All State 7 Central Co-operative Banks that Not to Grant Loans for Purchase of Gold in Any Form Such as Primary Gold , Gold Bullion , Gold Jewellery , Gold Coins , & Units of Gold Exchange Traded Funds / ETFs RBI directed Banks to impose a Monetary Limit of $500 for International Transactions on All Global credit & Debit cards which had Not been used in the Past RBI revised rules for Bulk Deposits with the Effect from 1 st April, 2013 as Banks will have Freedom to Determine its Own Penal interest Rates of Pre-mature withdrawal of Term Deposits .Banks at its Direction would Disallow Pre- mature withdrawal of Large Rupee Term Deposits of 1Crore & Above on which banks can Charge different / same Rates of Interest on Deposits of 1Crore & Above Compared to Previous limit of 15Lakhs & Above with Same Maturity. On the Depositor / customer request banks can allow withdrawal of Term deposits before its Maturity. Below 1Crore of same Maturity deposits will attract same rates of Interest. RBI Increased Limit of Investing in G-Secs by FIIs & Long-Term Investors to $25Bn from $20Bn & Also Hiked Investment limit in corporate bonds by them to $50Bn from $45Bn.RBI Not allowed such Investments in short-term Papers like Treasury Bills , & Also from Buying of Deposits & Commercial Paper RBI directed that Debit Cards would be issued to Customers having Savings bank A/c & Current A/cs / CASA A/cs. But not to cash Credit / loan A/c Holders. banks Should undertake review of their Operations / Issue of debit cards on Half- yearly basis

NBFCs would need RBIs prior approval before undertaking Changes in their Ownership Control. At present period for Classifying Loans into NPSs in case of NBFCs is Higher at 180 / 360 days when Compared to 90 days for Banks RBI uses optically variable ink / OVI in the minting of 500/- and 1,000/- paper currency. Foreign banks operating in India must give 12% of net bank credit / NBC to export credit. RBI Directed that Any CIC / Core Investment Company Registered with it Requires Minimum of 500Crore Owned Funds to Set up a Joint Venture Company / JVC for Undertaking Insurance Business & It would requires Prior approval from RBI for Investing in JV / Joint Ventures Subsidiaries / Offices in Overseas in Financial Sector RBI allowed Banks to include Loans to Corporates, Farmers, Producer Companies of Individual Farmers , Partnership Firms & Co-op of Farmers Engaged in agriculture & allied Activities like Dairy , Fishery , Poultry , Animal husbandry , Bee-Keeping & Sericulture Up to an Aggregate Limit of 2Crores Per borrower to be Considered as Priority sector Lending RBI told all public sector Banks would get an interest subvention / subsidy of 2% annually against short- term production loan / credit up to 3lakhs at ground level at 7% per annum to farmers. Amount of subvention / subsidy will be calculated on crop loan amount from date of its disbursement/ drawal up to date of actual repayment of crop loan by the farmer according to RBI. RBI introduced a New Category of NBFCs as NBFC Factors & stipulated that every company seeking Registration as NBFC-Factor would have a Minimum Net owned Funds /NOF of 5Crore RBI proposed PPI / Producer price Index which would Measure the Average Change Over Time in the sale Prices of Domestic Goods & Services @ For Inflation RBI released Payment System Vision Document 2012-2015 to meet the Growing Needs of the Nation in June,2012 RBI decide to cap on MDR / Merchant Discount Rates for Transactions undertaken with Debit cards that Not Exceeding 0.75% of Point of Transaction Amount up to 2000/while Not Exceeding 1% point for Transactions Above 2000/- with effect from 1st, July2012.MDRs will be given for Credit & Debit Cards RBI has put a cap on MFIs at 26% per Annum while margin cap of 12% over their Cost of Funds on 3rd ,may & 2nd October,2011 RBI Directed that Only 2 MFIs can Lend to One Borrower & Both Together cannot provide Loans Beyond 50,000/- to Prevent Possibility of Over lending RBI Allowed Let banks to determine their interest Rates on export Credit in Foreign Currency with the Effect from 5th May, 2012.

RBI Tightened rules for lending Against Gold Jewellery by NBFCs to Maintain LTV / Loan to Value Ratio of Not Exceeding 60% for the Loans Granted Against the Collateral of Gold Jewellery RBI permitted NBFCs under Companies Act,1956 to set up , Own & Operate WLAs / White label ATMs with Minimum Net worth of 100Crores on 15th February 2012 as At present only Banks are Permitted to Setup ATMs RBI aligned Bank Rate with the Revised MSF Rates RBI told Banks that LTV / Loan to value ratio in respect of Housing Loans Not More than 80% & for Smaller value Housing Loans Not more than 90% .Also directed Not to Include Stamp Duty, Registration & other Documentation Charges in Cost of Housing property which they financed. According to RBI Directions on 26th January 2012, Interest Rates applicable on domestic savings banks will be Determined on the basis of End-of Day Balances in A/c by the individual banks .But Up to 1Lakh Uniform Rate of interest & more than 1lakh differential Rate of interest. RBI removed 50,000/- transaction limit per customer a day through mobile phones which was fixed by RBI in 2009. Inter- Bank Mobile payment service developed & operated by NPCI NBFCs can participate in credit default swap market only as users by RBI i.e. as users, NBFCs are permitted to Hedge their Credit risk on corporate bonds they hold only. RBI directed all banks to issue cheques conforming to cheque truncation-2010 standards with uniform features from 1st April 2012 for image based processing of paper cheque. RBI de-regulated interest rates on NRE rupee deposits and NRO Deposits to many banks so as to attract more dollars into Indian economy. RBI also DE-regulated state co-operative banks/ SCBs & District central Co-operative banks / DCCBs which are free to fix interest to rates on NRE and NRO deposits of 1year and above. RBI de-regulated interest rates on savings Bank A/c deposits in October 2011

GDR is used by Indian Companies to Raise the Capital On Indian currency Note, It is printed on it that I Promise to pay the Bearer the Sum of 100/- & it carries / Bears the signature of RBI Governor Indicates that RBI will Control Inflation & maintain its Purchasing Power as this Note is Guaranteed by the Central Govt 1000/- Silver Commemorative Coin (80% of Silver+ 20%of Copper) issued by Govt of India is the 1st time in the History of India that Mumbai Mint has Issued 1000/- silver

Coin to commemorate 1000 years of Brihadeeswara Temple / Big Temple in 1010A.D by Raja Raja chola-I in Thanjavur of Tamil Nadu . AXIS / UTI Bank has launched its 8th Overseas Branch at King Street in City of London @Axis Bank UK Ltd 3 Indian Companies SriNidhi security Printing press , Madras security Printing press & Manipal Group to Print 1st ever Standardised cheques of National bank of Ethiopia/ NBE SBI is to Open Ultra-small Bank Branches at Village-level in Tripura NABARD Founder chairman (1982-84) & Former RBI Deputy Governor m. RamaKrishnayya was Passed away on 22-07-2013 Bank of England Chosen Jane Austen as New face of 10 sterling Pound Notes only 2 nd Lady after Queen Elizabeth-II on Britain Currency

Note: If you put Money in Debt Mutual Funds which is also investing in Debt Instruments ,after one year ,it becomes Capital Anybody who Furnishes PAN Card Number should not have to pay TDS Because Interest anyway Captured into Income & Cannot Escape from Income tax All Listed Companies required to have at least 25% Public Holding while 10% in Stateowned Company

Note: Loans below 25lakhs Classified as Priority Sector Advances Foreign Banks having 20/30 have to provide 40% on par with Domestic Banks Note: NRIs who have registered under representation of peoples Act 1950 Centre / Govt Inject funds in Public Sector Banks to increase CAR so as to Improve Asset Quality or Else Banks Credit Ratings will be Downgraded by Global Credit Rating Agencies like Moodys , S&P & Fitch by citing Inadequate capital & declining in Asset Qualitys NABARD launched re-finance ware-Housing loans scheme for the creation of ware houses, go-downs and cold storages by scheduled commercial banks, Urban, State, District Central Co-operative Banks Under which banks can avail 100% of re-finance at 8% per annum for the loans given to the customers First foreign lender to hike interest rates on NRE deposits in the wake of RBI is Citi Bank of USA

 Number portability likely on savings banks A/cs numbers after having mobile and health insurance policies Federal Reserve releases the summary of economic projections/ SEP on a Quarterly basis as it forecasts for short-term interest rates and other indicators of economic conditions. ALM/Asset Liability Management activities will be adopted by life and non- Life Insurance companies which are regulated by IRDA Andhra Bank Launched Abhaya First Wealth Pack for Common man in which Customers can benefit of financial security, assured returns on bank deposits, maturity and death benefits 15 Languages that Appears on Indian Currency Notes led by Assamese Language. Initially Indian banking was Popularly Known as Social Sector Banking Core Inflation / Non- food manufacturing sector RBI Approved to setup Indias 1st IDF / Infrastructure Debt Fund of $2bn / 10,000Crores to met the Financial Needs of Infrastructure Projects in India by ICICI Bank followed by BOB, LIC & Citi Financial Indias 1st State to Launch RBIs e-Payment System for Commercial Tax Payers is Maharastra Insurance Cover for Bank Deposits in our Country is Provided by DICGC Home Loans constitute Largest % of Retail Loans in India Credit Risk to the Banks is higher from Credit cards Citi bank Cards is Credit cards association IRDA is an Asset Reconstruction Company. Union Bank of India which Designated as Banker for indo- Myanmar Trade Got RBI Permission to Open Office in Myanmar Collateral means Assets to secure the Debt NBFCs Engaging in Lending against Gold Jewellery must maintain a Minimum Tier -1 Capital of 12% instead of 10% at present with the effect from 1 st April,2014 India Inked 3 loan agreements with ADB worth of $826Mn to Shore up Indias Power Transmission System for efficient Transfer of Electricity form Surplus Regions to deficit Regions Cap on Foreign investment in Govt Securities(Short- Term ) has been raised by $5Bn to $ 20Bn where as companies in Manufacturing sector with Foreign Exchange Earnings can borrow in dollars to cover Rupee Loans Up to a ceiling of $10Bn subject to Certain conditions

Govt Directed All the Payments Above 25,000/-will be Credited directly to the A/cs of the Payees such as Suppliers, Contractors ,Grantee & Loanee Institutions While Govt Staff can receive by Cash / Cheque their Salaries / Direct bank Transfer But Retirement Terminal benefits through bank A/cs One of the Oldest & Largest Banks in Southkorea was Set up its 1 st Indian Branch in Chennai is Woori Bank. Bangladesh Economist & Founder of Grameena Bank Concept in 1974 was Prof. Muhammad Yunus who was received Noble Prize for peace in 2006 Centre hiked the Cap on Voting Rights to Investors with their Share-Holding in Private Sector Banks to 26% from 10% 4 Public Sector banks Launched 1st set of Rupay cards in India on 26th march,2012 are SBI, BOB , BOI & UBI Rupee Payments to Iran : are Exempted from Taxation & Agreed that Indian Importers of Iranian Crude Oil can make 45% of Payments in Rupees which Iran will park with Kolkata Based UCO Bank to settle payments to Indian exporters through Bank A/c opened in it as It has No USA / European Exposures i.e. Its Overseas Presence is Limited to CSH / China, Singapore & Hong Kong HSBC to sell Entire Stake in Axis Bank & Yes Bank through Share sales worth up to 2450Crores/ $429.5Mn Citi Group Bank sold its stake in HDFC for $1.9Bn in 2012 while USA s Private equity firm Warburg Pincus sold its stake in Kotak Mahindra Bank to Raise $274Mn Minimum balance Requirement for Savings bank A/c of Private Sector banks such as ICICI ,HDFC & Axis Bank is 10,000/CBEC told that Remittances from abroad would Not Attract service Tax / No Service Tax on the Amount of Foreign Currency Remitted to India from overseas Indian Counter Bank / Financial Institution which Charges Foreign Bank / Any other Entity for services provided at receiving end is NOT Liable to Service Tax

NOTE: New Service Tax Regime from 1st July,2012@12% Reserve currency is Employed as a Store of Value Banks are Permitted by RBI on 16th ,August,2012 to Allow Pre-Mature Withdrawal of Deposits by the surviving Joint Depositor on the Death of the Other only if there is a Joint Mandate from the joint Depositors to this Effect A/c Maximum Limit of ECBs by individuals / Group Company can Raise $3Bn Compulsory use of e-Funds transfer for All Transactions above 25,000/- Adopted by Govt Of India

Bank of India Opened branch in Johannes Berg, South Africa From 01st April 2013 onwards Govt of India mandated all foreign investors desirous of claiming benefits under DTAA will have to produce TRC of their base country in which they are located. 75/- Coin was issued in the memory of platinum celebrations (75years) of RBI. Bank of Baroda, Andhra Bank and Indian Overseas Bank are planning a joint venture of commercial Bank in Malaysia. Calcutta mint launched 100/- and 5/- coins on the eve of 100th birth anniversary. RBI Issued 150/- of coin to commemorate 150th birth anniversary of Rabindranath Tagore and Income Tax department. 10/- coin is bi-metallic coin of India which is printed by RBI. Ganguly Committee: on corporate governance under which fit and proper criteria for the directors of the Banks by RBI.

12th Five year plan (2012 2017) aim is faster, sustainable and more inclusive growth. Gyanodaya is e-learning gate way of SBI. SEBI made it mandatory that all listed companies must have the minimum of 25% of public share holdings by June 2013, on 16th Aug, 2012. World Bank agreed to provide $500mn loan to India for secondary education project named as Rashtriya Madhyamik shiksha Abhiyan on 5th Oct, 2012. Bank Loans to MSME Sector up to an AGGREGATE Loan Limit of 2Crores Per Borrower Punjab national bank launched e- stamping Kohinoor banking of SBI is an Exclusive Premium banking centre for HNIs/ High Net Worth Individuals Ministry of finance raised cap on investment by LIC to 30% from 10% of a Companys paid-up capital & can invest up to 30% of shares of Listed corporate Entities on 21-112012 Govt Increased FII Limits in Govt securities & Corporate bonds by $5bn each by Taking Total Investment Limit in Domestic Debt to $75bn to $65bn Limit for FII Investment in Govt securities & Corporate Bonds by $5Bn ach which is categorised into 2 baskets. 1st basket consist Govt securities to $25Bn (Merger of Old & Long-Term Securities) & 2nd Basket Consist Corporate bonds to $51Bn (Merger of $1Bn Sub Limit for QFIs $25Bn Sub Limit for FIIs & $25Bn Sub Limit for FIIs in Long -Term Infrastructure Bonds)

 India & Japan signed on Bi-Lateral currency swap agreement that enables bank of Japan & RBI to swap their Local currencies either in Yen / Rupee against US Dollar for an Amount up to $15Bn with Effect from 4th December,2012 State of Public Finances of West Bengal was Poorer than Most of the States in India as per RBI Worlds largest / No.1 Exchange in terms of No. of Companies listed is BSE of India Europes largest Bank is HSBC Bank Credit Risk Guarantee Fund with initial Corpus of 1000Crores will Encourage banks to offer home Loans to the Poor As per WTO Agreement, India allows opening of 12 branches of foreign banks in a Year. At present 34 Foreign Banks Operating in India with 5 Major banks including Standard& Chartered, HSBC , Citi bank & Deutsche Foreign Investment Ceiling in ARCs / asset reconstruction Companies raised to 74% from 49% will be a Combined Limit of FDI & FII.14 ARCs in India & ARCIL is Largest @ Public Sector ARC Banks in India are allowed to trade in financial instruments like shares, Bonds & Currencies in securities Market. But banking Regulations act, 1949 Prohibits Domestic & Foreign banks from trading in Goods / commodities including Mutual funds, Pension Funds, Insurance Companies. FIIs are not allowed to Trade in Indian Commodity Futures Market which dont have statutory power. Non-banking financial players are Mutual Funds, Insurance Companies & FIIs. 21 Commodity exchanges in India @ 5 National level & 16 Regional level SBI launched state bank Mobi-Cash Easy as a mobile wallet / prepaid A/c that offers funds Transfer , bill payments , balance Enquiry , Mini- statement , DTH 7 Mobile Top ups recharge Oldest Swiss Private bank Wegelin & Co going to shut down doors permanently after More than 2 & Centuries for helping wealthy Americans Evade taxes through secret A/c s V-Abhivridhi is a new Term Deposit scheme launched by Vijaya bank offers Higher Returns to the depositors FSAP / Financial stability Assessment program of IMF QFIs continue to be Eligible to Invest in Corporate Debt-Securities without Any Maturity & Mutual Fund Debt Schemes to Overall Ceiling of $1Bn Worlds Largest AMC / asset management Company Black Rock has taken $80Mn Stake in Twitter

 Insurance Companies now can hold up to 15% Instead of 10% stake in Any Company as IRDA Permitted Raising of Investment Limit .& LICs investment Limit is 30% Instead of 10% TDS / Tax Deduction at Source Limit on Fixed Deposits is 10,000/- only (25,000/- @?) Britains Royal Mint has Started to Manufacture Gold sovereign Coins in India for 1 st Time Since 1918 Only Chinese Bank with a Branch in India is Industrial & Commercial Bank of China/ ICBC Indias 1st Infrastructure Development Fund / IDF NBFC License is given to India Infra Debt ltd whose Largest Share Holder of 31% is ICICI Bank. USAs federal Court sentenced to 2 Years & ordered to pay $6.2Mn to Goldman sachs Bank by its Former Director Rajat Gupta for Insider Trading ICICI Bank got capital repatriation of $100Mn / 545Crores from its Wholly-owned British / UK subsidiary Firm which holds 31.5% PFRDA allowed investors in NPS(01-05-2009) / New Pension Scheme to Opt for Deferred withdrawal of their Money at Time of exit as against current Practice of phased Manner & can defer /time Entire Lump sum withdrawal of Maximum 60% at Time of Exit from NPS which is automatically Monetized & credited to his/her Bank A/cs at attaining 70years.investors can withdraw Deferred lump sum Before the Age of 70years at Anytime with the Withdrawal Notice 1Bn Plastic 10/- Notes Introduced by RBI on Field Trial Basis in Kolkata, Jaipur, Mysore , Shimla & Bhuvaneswar Ministry of Finance Announced to All PSU & Private Banks that No Charge / Processing Fee for selling Credit Card dues with Cheque Payments / Cash Paper Gold in the form of Gold ETFs is a Physical Transactions that are Not involved. Gold ETFs & Gold Funds Holdings period as Long-Term is Only One Year United Bank of India Plans to set up Branches in BRICS would Apply for Licenses to RBI Gold card Scheme for Extension of Credit to Exporters & appropriate Inclusion of Export finance Under priority Sector Lending & Raising of Foreign Currency Loans Deposit-Taking NBFCs registered with RBI were to be Regulated by RBI Expanded Money supply , Growing industrialization , Increased Investment & Urbanisation has Led to Enhanced Purchasing Power Parity / PPP Nominated banks & agencies Permitted to import Gold on Loan Basis , Suppliers Credit / buyers Credit Basis & unfixed Price Basis Feeder Fund makes most of its Investments through a Master Fund .India Planning for the Establishment of a London-Listed Feeder Fund for IDF/ Infrastructure Debt Funds

 NBFC Infrastructure Finance Companies / IFCs are Permitted to avail of ECBs for OnLending to Infrastructure Sector Both under Automatic route & Approval Routes Institutional Investors are Playing major Role in G-Secs market Top 30 NPAs as well as performing A/cs are Reviewed for Every Month & Actions are taken by Union finance Minister

BANKING CURRENT AFFAIRS 2013-14 RBI allowed commercial banks to open new bank branches / outlets in major cities without seeking prior approval from RBI on 19th September, 2013 & also banks will be allowed to open a higher number of branches in top-tier cities over and above their allowed quota if the banks meet certain the criteria RBI relaxed minimum maturity tenure for banks foreign currency borrowings to 1 year from 3 years in order to use central banks staff facility which was set up to support the ailing rupee / rupee voltality 2013 Deutsche bank prize in financial economics RBI Governor Raghuram Rajan GAAR / The general anti avoidance rules provisions will come into force with the effect from 1st April, 2016 RBI banned on 0% interest schemes / 0 cost credit card EMI loans / vendor subvention loans offered by the banks. RBI instructed banks to stop offering 0% interest EMI schemes for the purchase of consumer durable goods in a move to discourage them from offering such schemes / products and also told banks to offer uniform interest rates & processing fee on EMI based credit card schemes for retail products RBI changed the bulk deposits limit from 25 lakhs and above to 1 crore and above Government permitted unlisted companies to directly list on stock exchanges abroad without prior / simultaneous listing on Indian bourses / markets either for raising funds for acquisitions / for retiring debts. This scheme is to be implemented on a pilot basis for 2 years with the effect from 27th September, 2013 In the past 20 years, the RBI has licensed 12 banks in the private sector in 2 phases. 10 banks were licensed on the basis of guidelines issued in January 1993 whereas Kotak Mahindra bank & Yes bank were the last two entities to get the banking licenses from the RBI in 2003-04 India pays Iran in Rupee in the accounts of the National Iranian Oil company through UCO bank branch in Kolkata for 45% of its oil purchases. Since July 2011 onwards India had been paying Iran through the Ankara based Halk bank in Euro for 55% of its oil

purchases. However payments in Euro ceased on 6th February, 2013 after the sanctions on Iran by UNO, USA and E.U. So Iran wants India to explore this 55% payment through the Euro of some other currency mechanism Unlisted private banker Ratnakar bank (estd in 1943 & H.Q Kolhapur in Maharashtra)was acquired British banking major RBS business banking, credit card business and mortgage portfolio for an undescribed sum Operation Twist is a term used to describe Federal Reserves bond purchase program IRDA allowed banks to act as brokers and sell by products of more than one insurance company / insurer and no capital required for insurance broking business carried out by the banks as per IRDA (licensing of banks as insurance brokers) regulations 2013 LIC housing financing launched Sanchay public deposit scheme with the interest rates between 8.75% 9.5% Our biggest bank is ranked at about 60 in the Global League of large banks RBI allowed banks to introduce concessional swap facility for overseas fund raising on 10th September, 2013 under which banks can borrow overseas funds up to 100% of their Tier I capital level although any loan over 50% of that level must be for a minimum 3 years A one year bank certificate of deposit in India has an interest rate of 10.30% Credit creation means i.e., by banks and credit institutions such as NBFCs / so called Shadow banks (which conducts credit intermediation activities) were primarily outside the regulatory purview Government banned imports of gold coins & medallions as part of steps to curb its CAD on 14th August, 2013 RBI banned the usage of LRS / Liberalised Remittance Scheme for acquisition of immovable properties abroad while reducing LRS limit as per which resident individuals can gift / provide the loan to the extent of only $ 75,000 instead of $ 200,000 per year but only to their NRI close relatives under LRS Union Finance Minister Launched 15,000th branch of SBI (Indias largest banking networking)at Sooranam village in Shiva Ganga of Tamil Nadu on 17 th August, 2013 The banking regulation act, 1949 does not explicitly allow Indian banks to issue Senior unsecured debt bonds except IDBI which moved from DFI / Development Financial Institution i.e., as per existing rules that allows Indian banks to issue only 2 types of long term bonds 1) Capital Qualifying Bonds (Tier I & Tier II Securities) 2) Infrastructure bonds equal to the size of their infrastructure assets

 In 2009, RBI bought 200 tonnes of gold / yellow metal from IMF worth over $6.7 bn to increase its gold reserves as a hedge against the dollar voltality as gold value strengthens when dollar was volatile Note: - Government of India pledged 67 tonnes of gold with IMF in 1991 during BOP crisis India imported 162 tonnes of gold in May, 2013 from Thailand, Malaysia or elsewhere Worlds biggest consumer of gold / yellow metal is India. Gold is biggest and most expensive non essential item / commodity in Indias import bill RBI relaxed rules on mandatory bond holdings for banks / SLR which helps to protect lenders from large mark to market losses by asking banks to retain their hold-tomaturity bond holdings at 24.5% of the deposits instead of 23% earlier Sovereign bonds / special government backed deposit schemes issued to NRIs / Indians at abroad to attract dollar inflows to support further rupee depreciation Micro credit pioneer & Nobel Laureate Mohammed Yunus who received noble prize in 2006 along with grameen bank that he founded RBIs existing results of yellow metal / gold is about 600 tonnes at present India has worlds 3rd largest CAD of $88.2 bn / 4.8% of GDP due to gold imports RBI opened a Forex swap window to meet the entire daily dollar requirements for 3 public sector OMCs like HPCL, BPCL, IOCL i.e., RBI will undertake sell / buy of US dollar Indian Rupee forex swaps for fixed tenor with OMCs through a designated banker Share of capital inflows to India are FDI, FII & ECBs SBIs unfixed deposit scheme provides highest returns with full liquidity and no penalty when withdrawn any time after 7 days for the deposit amount of 1 crore and above with the rate of interest for 7 to 60 days is 9% while 61 days to less than 1 year is 8.25% and the lock in period is 7 days to less than 1 year RBI started publishing financial stability report / FSR since March 2010 in India @ 7 reports till now CPI (Industrial workers) IW, -- Agricultural labour, rural labour, urban, rural & CPI combined. CPI & IIP (used for the measure of industrial output) Released by CSO and used to calculate retail inflation and industrial inflation respectively The tradition practice in RBI had been to use WPI as the headline measure of inflation which constituted close to 2/3rd of Indias economic activity RBI permitted premature encashment / closure of 8% savings (taxable) bonds for individual investors who are 60 years and above but only after a minimum lock in period of 3 years from the date of issue Indias largest private sector insurance company is ICICI, Lombard As per RBIs 80 : 20 scheme, 20% of every lot of imported gold has to be made exclusively available for the purpose of exports. RBI told importers on 22nd July, 2013

that a 5th of their purchases would have to be turned around for export and that 80% would be available for domestic use under 80:20 norms i.e., 20% of imported gold must be exported. But in August 2013, only gold imports were for SEZs which export jewellery and falls outside the central bank purview RBI directed banks that lump sum disbursal of sanctioned housing loan will have to be closely linked to the stages of construction of housing projects / houses and no upfront disbursal should be made in case of incomplete / under construction / green field housing projects. These loan products are popularly known as 80:20 / 75:25 schemes RBI allowed to banks to swap funds that are mobilized through foreign currency deposits / FCNR deposits to attract overseas funds which are mobilized for a minimum tenor of 3 year and over at a fixed rate of 3.5 % per annum for the tenor of the deposit and also raised current overseas borrowing limit of 50% of un impaired tier I capital to 100% In Zimbabwe, inflation peaked at 231 mn % while exchange rate stood at Z$35 quadrillion to US $1 RBI allowed banks to issue bank guarantee to non-residents on behalf of person resident outside India for FDI transactions which would be compliance with the provisions of SEBIs substantial acquisition of shares and takeover regulations RBI allowed exporters to re-book 50% of cancelled forward exchange contracts from 25% while providing similar facility to the importers to the extent of 25% only RBI allowed cash withdrawals of up to 1000/- Per day through / via prepaid cards including gift cards issued by the banks from POS terminals which aimed to enhance customer convenience in using plastic money. But up to now this facility was available only to debit cards issued by the banks RBI had placed on its website a list of 26 applicants for new bank licenses in private sector on 1st July, 2013 Sovereign / Governments/ Indias external debt is increasing due to increase in short term debt, ECB and NRI deposits Chine re-launched trading of its treasury bond futures on 6th September, 2013 since 1995 as they were banned after Wanguo Securities was charged with conducting illegal trading of government bond futures contract leading to multi billion Yuan loses and bankruptcy of the company RBI allowed overseas travellers / resident individuals travelling abroad to carry Indian currency notes of government of India and RBI notes up to 10,000/- per person instead of 7,500/- earlier other than Nepal and Bhutan and also allowed any person on a temporary visit outside India to bring into India at the time of his / her return from any place other than Nepal & Bhutan can carry notes up to an amount not exceeding 10,000/- per person

 Indias local currency had depreciated to an all-time low of 68.85/- on 28th August, 2013 RBI allowed non-resident investors including NRIs to buy shares of an Indian entities listed on recognized stock exchanges under FDI scheme subject to certain conditions through a registered brokers and amount of consideration for transfer of shares to nonresidents consequent to purchase might be paid through inward remittances using normal banking channels / debit to NRE / FCNR account of the person with an authorized dealer / bank RBI to invest $4.3 bn in special private placement bonds of world bank as it would help in securing additional funding from the multi lateral lending agency for infrastructure development projects SEBI norms for foreign investors as lowest risk category I (government and sovereign entities), medium risk category II (well regulated entities like mutual funds, insurers, investment trusts, banks, university funds and pension funds), category III (corporate bodies, individuals and family officers) under KYC (Know Your Client) norms RBI watcher Mahesh Natani filed PIL against government of India and RBI to enforce all commercial banks to compute interest rate on savings accounts on the basis of daily balance in April, 2009 Indias short term credit of $ 96 bn is to be matured by March 2014 Insurance repository system has been set up by IRDA as first of its kind in the world with the object is to create an insurance repository to provide policy holders a facility to keep / hold insurance policies in electronic form on 16th September, 2014 in Hyderabad SEBI told FII to buy government debt securities without having to bid for a quotas through a monthly auction until 90% of total available limit of $25 bn of government debt is reached. Once it reached then government debt will be sold in an auction to the investors APCOB / A.P. Cooperative bank launched integrated core banking services network as first time by a state run bank in India A.P. farmers will soon be offered a bouquet of services through their KCC / Kisan credit cards on the lines of regular credit cards / debit cards as they can use their cards to avail subsidies offered by the government on seeds, fertilizers and other inputs in addition to availing banking services such as credit, deposit & other financial transactions Government can issue shares with non-voting rights to retain control while simultaneously enabling public sector banks to raise capital Premier Stock Exchanges BSE and S&P Dowjones were set up a joint venture company (50:50 partnership) Asia Index to provide an array of indices enabling global and domestic investors to participate in South Asias vibrant economies RBI asked banks to close immediately the accounts of default making customers using debit card / credit card / online banking & other electronic channels for online forex

trading transactions which are prohibited. If not RBI may proceed against default making bank. The public is being asked to make the margin payments for such online trading transactions through credit cards / deposits in various accounts maintained with the banks in India RBI asked 1) NBFCs accepting gold jewellery as collateral to value them at the average of closing price of 22 carat gold for the preceding 30 days 2) NBFCs should give in writing to the borrowers on their letter heads, the purity in carats and weight of the gold 3) LTV / Loan to value ratio for loans against jewellery would continue to be at 60% 4) High value loans of 1 lakh and above must only be disbursed by cheque and documentation across all branches must be standardized 5) It would be mandatory for NBFCs to obtain prior approval of RBI to open branches exceeding 1000 as no new branches would be allowed to be opened without facilities for the storage of gold jewellery and minimum security facilities for the pledged gold jewellery The minimum daily maintenance of CRR by the banks is reduced to 95% from 99% by RBI MSF rate is the rate at which banks borrow funds overnight from the RBI against approved government securities Repo rate is short term indicative rate Government limits foreign investment in rupee denominated debt at $ 81 bn for both corporate and government debt apart from several other restrictions based on investor profile, tenor, issuer category Details of Interest Subvention Scheme: o On 2 August 2013 the Union Cabinet declared to continue the o Interest Subvention Scheme. This is applicable to crop loans. o Interest subvention of three percent on crop loans continues. o Under this scheme Rs.15,385 crores to be spend as proposed o in the budget 2013-14. SEBI SEBI made it Mandatory for Users to have their System Audited every 6Months by Systems Auditor & Increased penalties on Errant Stock Brokers Indias 1st SEBI-Registered Social- Impact Fund is DICCI (Dalit Indian Chambers of Commerce & Industry) SME Fund of Venture Capital Fund which is initiated to raise 500Crore over 10years with Initial Contribution of 10Core by IDBI. So as to Finance Dalit Entrepreneurs to set up Their Business

 SEBI approved MCX- SX / Multi Commodity Exchange stock Exchange to start Operations in Equity Futures & Options on Equity , Interest Rate Derivatives & Wholesale Debt market as 3rd National level stock Exchange after BSE & NSE SEBI is Allowed Gold ETFs to Invest in Gold Deposit Schemes / GDS of the Banks as RBI changed Maturity Period of Gold Deposits from 6Months to 7 Years While Total Investment in GDS Will Not Exceed 20% of Total asset Under Management of Gold ETFs by AMCs / Asset Management companies BSE Launched Greenex which Includes 20 Stock Companies from BSE Top 100 Companies SEBI permitted to BSE to Launch Indias 1st Separate SME Platform / Small Medium Enterprises Exchange to offer a Platform to Small & Medium Companies to Raise Funds NSE also Launched Separate SME Platform to Small & Medium Companies to Raise Funds is EMERGE SEBI made e- Voting Mandatory for All Top 500 Listed Companies on BSE & NSE Based on Market Capitalization to provide for Electronic Voting Facilities SEBI Regulates CIS/ Collective Investment Schemes/ Ponzi Schemes, NBFCs are under Supervision of RBI while Chit Funds are regulated by respective State Govts To attract Investments from NRIs , India is Considering the Introduction of Diaspora Bonds to Facilitate greater inflow of Funds in Infrastructure Sector as Long-Term instruments SEBI raised BMC / basic minimum capital deposit for stock broker & Trading members up to 50lakhs from 10Lakhs Off Market / Dabba Trading means Trading outside the Recognised Stock Exchange SEBI allowed QFIs / Overseas Individual investors to Invest up to $1Bn in Corporate Bonds & Debt Schemes of Indian Mutual funds & equity shares without any Lock-in Period by Opening a De-Mat A/c with a Qualified DPs / Depository Participant and by Ensuring KYC Norms of QFIs as per SEBI Guidelines CIBIL/ Credit Information Bureau of India Ltd plans to Introduce New Risk Index to help Indian Banks to take quicker Decisions on extending Loans to Corporate & Business houses BSE Roped in S&P Dowjones Indices to Use the S&P Brand for its Sensex , BSE100& BSE200 Stock exchanges would provide details of paid up equity capital of all listed companies in ISIN / International Securities Identification number-wise to the depositors once in 6 months periodically and also provides change in paid up capital in any listed company immediately. SEBI Hiked Investment Limit for FIIs in Govt Debt to $30Bn from $25Bn. SEBI Auction Gsecs / Govt debt Securities for FIIs

 SEBI Reduced Maximum Buyback Period to 6Months from 1Year & also Mandated that Angel Funds shall invest only in investee Companies which are incorporated in India & are NOT more than 3years Old & have a Turn Over NOT Exceeding 25Crore & are Unlisted , Not Promoted. Individual Angel investors Required to have Net Tangible Assets of 2Crore while Corporate Angel Investors shall be required to have 10Crore Net Wirth / Be a registered AIF / VCF(Venture Capital funds) by Opening / creating an Escrow A/c

Banking Practice Bits 3.NDTL consists of (Net Demand Time Liability) ... a) Current Accounts b) Savings Accounts c) Term Deposits d) All the above with a few adjustments 4. Interest Rate paid on CRR balances Is0% 5. CRR balances are to be kept by banks in Cash balance with RBI 8. CRR/SLR is kept under .....RBI Act & Banking Regulation Act 9. SLR money is to be kept by Banks in..... Gold&G-securities only (or) G-bands 10. REPO stands for and present REPO rate is.. b) Repurchase offer, 7.25% 11. Under REPO, RBI ... a) Gives loans to commercial banks 13. Under Reverse REPO facility .... b) Banks get interest on deposits 15. Bank Rate is the interest rate charged on Loans taken by banks under Bills Re-discounting. 16. MSF of RBI stands for and is meant for.... b) Marginal Standing Facility for Liquidity Adjustment 17. SCC (Selective Credit Control) directives on food grains & Oil

Seeds are given by RBI for Controlling Hoarding& Controlling speculation 18. PMLA 2002 is for... b) Arresting money laundering 19. KYC Day is observed on ....1st Aug 20. Bank Notes means . Rs. 2 and above up to Rs.1000/21. When did the RBI become a State owned institution1949 22. RBI head quarter's is there in? Mumbai 23. How many regional offices do RBI has?29 25. Which of the following is not included in the foreign-exchange reserves of India? a) Foreign-currency assets held by the RBI b) Gold holding of the RBI c) Silver holding of the RBI d) Personal Deposit Accounts Key 1. Which of the following is known as Plastic Money? Credit Card&Debit Card 2. KYC guidelines followed by banks have been framed on the recommendations of the ........... 5) Reserve Bank of India 3. Business Correspondents in banking are for: 4) Serving the weaker sections of society 5. CMD of a public sector bank is appointed by: 3) Central Government 8. Micro finance development equity fund is managed by: NABARD 11. When banks borrow fund for overnight, it is called: Call Money 13. Electronic Cheque means : 4) Cheque signed digitally 14. What is the minimum amount for NEFT transaction?

4) There is No minimum limit 16. Which of the following committees has given its recommendations on 'Financial Inclusion' 2) Rangarajan Committee 17. Rise in Stock Market is usually referred to as: Bull 18. The term 'insider trading' is associated with: Stock Markets 19. Which of the following is implemented in India in all the districts of the country for providing employment? 3) Mahatma Gandhi National Rural Employment Guarantee Act 20. Which of the following is the purpose of introducing 'Know Your Customer' and AML norms by the banks? 3) To Identify the customer and identifying the source of funds deposited in banks 21. Which of the following organisations has been established mainly to promote micro, small and medium industrial sector in India? SIDBI 22. Which of the following is not one of the major functions of the National Bank for Agricultural and Rural Development (NABARD)? 1) Acting as regulator for cooperative banks and RRBs 2) Extending assistance to the government and others in matters related to rural development 3) Providing refinance to lending institutions in rural areas. 4) Acting as a coordinator in the operations of rural credit institutions 5) Review of monetary and credit policy 23. Banks in India are required to maintain a portion of their demand and

time liabilities with the Reserve Bank of India. This portion is called: Cash Reserve Ratio 24. Which of the following organisations / agencies has specifically been set up to boost overall rural development in India? NABARD 25. Banks in India are regulated under: Banking Regulation Act, 1949 26. A savings bank account opened with a commercial bank with zero or very minimal balance is known as: 3) No Frill Account 27. Banks in their daily business face various kinds of risks. Which of the following is one such major risk? 5) Operational Risk 28. Which of the following schemes was launched by the RBI in 2004, under which Govt of India stated that Securities/ Treasury Bills could be issued to absorb surplus/ durable liquidity? Market Stabilisation Scheme 29. 'Base Rate' in banks is: The minimum interest rate fixed by individual banks below which they cannot lend funds, except cases like governmentsponsored schemes. 30. Banking sector falls under ......... Service Sector 32. Which of the following is a payment and settlement system used by the banks in India? Real Time Gross Settlement -U--Rc 29 -AeOd-R 2012 N-O-uo Aj-u.R--u 1 1. Which Bank is called Apex Bank? Reserve Bank of India 2. First Indian appointed as the Governor of Reserve bank of India ...... Sir C. D. Deshmukh 3. Which among the following banks has more ATMs? State Bank of India

4. ICICI Bank made an agreement with ECO bank to extend the banking regulations on 15th October 2012. ECO bank original base is in... Africa 5. Vostro Account means ..... An account maintained by foreign bank in India in Indian Rupees Garnishee , Lien&Crossing ? 9. The Base Year of Consumer Price Index Numbers for Industrial Workers (CPI-IW) is... 2001 11. Which bank is not in Private Sector? 1) Axis Bank 2) ICICI Bank 3) Repco Bank 4) HDFC Bank 5) South Indian Bank Ltd 12. FERA 1993 passed to control the foreign exchange dealings. FERA means... 1) Foreign Exchange Regulation Act 1) Bhide CommitteeCommercial banks and State Financial Corporations 2) Bhuchar Committee-Term lending institutes and commercial banks 3) K B Chore Committee-Cash credit 4) Cook Committee-Capital Adequacy Ratio of Banks 14. Which among the following is not the Negotiable instrument? 1) Cheque 2) Demand Draft 3) Cash Deposit form 4) Bill of Exchange 5) Promissory Note 15. Gilt-edged securities mean ........ High-graded and low risk securities 21. Expand IFRS? International Financial Reporting Standards 22. Who is 'Drawer' in the Bank cheques? Who issue the cheques 23. Who is 'Drawee' in the Bank Cheques? Always the banker 24. Who is 'payee' in the Bank Cheques? Who encash the cheques 25. Drawer can be payee in the Bank Cheques .....?

Yes 26. The money avail at high rate of interest is called ..... Dear money 31. Bill of Exchange means .... Unconditional order issued by a person or business which directs the recipient to pay a fixed sum of money to a third party at a future date 32. Who gives the Order to pay OR maker of the Bill of exchange is called ...... Drawer 33. In the Bill of Exchange, on whom the obligation to pay rests is called ...... Drawee 34. In the Bill of Exchange, to whom the bill is payable, he is called .... Payee 1. Which among the following statements is correct? 1) RBI is a Banker to the Government of India 2) RBI frames and administers the Monetary Policy of India 4) RBI deals with the borrowing programs of Government of India 2. On 6 September 2012, World Bank approved $ 106 million loan to India to improve .......... the nutritional outcomes for children less than six years of age, with a particular focus on 0 - 3 year old children 3. Which bank launched a mobile wallet 'Mobicash' in partnership with Oxigen Services (India)? State Bank of India 4. Andhra Bank's head office is at Hyderabad. Pick the correct statement relating to Andhra Bank. a) Andhra Bank was founded by the eminent freedom fighter, Dr. Bhogaraju PattabhiSitaramayya b) The Bank commenced business on 28th November 1923 with an authorised

capital of Rs. 10.00 Lakhs c) Andhra Bank's new mascot is Dolphin named as DOLLe. d) Friendly, Intelligent, Responsive are the mascot slogans of this bank 5. From Jan 2010, with which bank, Bank of Baroda and Legal & General (UK) commenced a Life Insurance Joint Venture by name M/s India First Life Insurance Co Ltd? Andhra Bank 11. What is meant by Public Sector Bank? Government of India or RBI or both have the least 51 % shares in the bank 15. Which commission distributes the taxes between centre and states? Finance Commission 23. The College of Agricultural Banking at ...... rains staff of co-operative and commercial banks, including regional rural banks. This college runs by Reserve Bank of India. Pune 24. Reserve Bank of India is funding to encourage advance training and research on banking issues, economic Growth. It is funding National Institute of Bank Management (NIBM) at ........... Pune 25. Where is the Indira Gandhi Institute of Development Research (IGIDR)? This Research institute funding by Reserve Bank of India. Mumbai -!-ERc 10 --c-R 2012 N-O-uo Aj-u.R--u 1 1. An Institution whose principle business is accepting deposits and forwards the Loans is called ............. Bank 2. The chief activities of bank do not include 1) Providing loans 2) Accepting deposits 3) Providing lockers 4) Issuing Negotiable instruments 5) Selling Real Estate properties 3. Chief functions of banks do not include ....... 1) Accepting Cheque in the form of deposit

2) Allowing the transfer of funds 3) Doing agriculture activity 4) Providing foreign exchange 5) None 5. Payment and Settlement Systems Act passed in .............. 2007 6. The MICR cheque details given. 1) MICR means Magnetic Ink Character 2) MICR introduced to increase the standards of the cheques 3) MICR issued by bank 4) In the MICR portion, the customer not allowed to write anything 7. The MICR cheque details given. 1) In the MICR cheques, MICR bears 9 digits 2) First 3 digits represent city name/ district name etc. 3) Next 3 digits represent bank name 4) Last 3 digits represent branch code 9. SFMS means .............. Structured Financial Messaging Solution 10. INRFS means .............. Indo-Nepal Remittance Facility Scheme 11. NEFT means .............. National Electronic Fund Transfer 12. Which electronic fund transfer system run on the basis of 'Deferred Net Settlement'? NEFT 13. RTGS means ............... 14. Minimum amount to be remitted through RTGS is ............... Rs. 2 Lakh&The upper limit in the transactions of RTGS is There is no upper limit 16. Beneficiary bank has to credit the beneficiary's account within .......... hours of receiving the funds transfer message as per the order of RBI. Two 17. In the both cases of RTGS and NEFT, the service charges are decided by ........ Banker 18. In Online transactions, IFSC code given. 1) IFSC is an alphanumeric code that

uniquely identifies a bank-branch participating in the NEFT system and RTGS system 2) IFSC means Indian Financial System Code 3) It will have 11 digits 4) First 4 digits does not tell the location of bank head-office 5) Fifth digit is always zero and the last 6 digits tell about the branch code 19. On 26th September 2012, World Bank opened Climate Innovation Centre in Kenya 21. 'e - Choupal' is the Rural marketing network initiative of ............. ITC 29. New issue of shares is made in ............ Primary Market 30. An important source of capital formation in India has been ............. Household savings Banking History 1. As per the modern definition of the bank, which is the first bank established in India in 1786? The General Bank of India 2. One of the earliest banks in India, Bank of Hindustan was established in ..... 1790 3. Few Indian Merchants established Union Bank in 1839 (not Union Bank of India) at.... Calcutta 4. One of the oldest joint stock banks, Bank of Upper India in 1863, merged with .... Alliance Bank of Shimla 5. First entirely Indian joint stock bank Oudh Commercial Bank was established in 1881 at... Faizabad (Uttar Pradesh) 6. The first phase of Indian banking runs between 1786 to 1969. The highlights of this

period include ....... 1) Establishment of banks in India 2) Report of Hilton-Young Commission 3) Establishment of Reserve Bank of India 4) Establishment of State Bank of India 7. The second phase of Indian banking runs between 1969 to 1991. The highlights of this period include... 1) Nationalization of banks 2) Insurance of bank deposits 3) Setting up of Regional Rural Banks 4) Establishment of NABARD 8. Third phase of Indian Banking runs between 1991 till today. The highlights of this period include ... 1) Introduction of banking reforms 2) Infusion of Information Technology 3) More entry of Foreign banks 4) Customer Banking 9. Economic and Banking pundits divide the functions of RBI into three categories. They are .... Traditional, Promotional and Supervisory 10. ......functions of Reserve Bank of India include Banker to the government, issuing of currency notes, control the foreign exchange, and fight against the economic crisis. Traditional 11. New innovations in the banking business, promoting loans to poorer and small sections of society, engaging other agencies to float credit like NABARD etc. are to be termed as the ...... functions of RBI. Promotional 12. Licensing, controlling other institutions which do the part banking, and review of banks performance are the ......functions of RBI. Supervisory 13. On 8th November 2012, which bank and Vodafone declared they offer 'm-pesa', a mobile - money transfer and payment service? ICICI 14. On 2nd November 2012, which bank

declared to set up 24-hour multi-function self service counters at its 500 branches by March 2013? Punjab National Bank 2. Statutory Liquidity Ratio .... is the proportion of demand and time deposits that banks have to keep invested in unencumbered, approved government securities, gold or cash. 4. If Statutory Liquidity Ratio increases, the availability of bank loans .. decrease 5. To control inflation, Statutory Liquidity Ratio to be ... increased 10. If Cash Reserve Ratio reduces, then availability of bank loans ....... increase 11. On Cash Reserve Ratio funds, the banks.... do not get rate of interest 12. RBI set up the panel to review the structural constraints in the rural credit delivery system. It is headed by .... Prakash Bakshi 24. Global Competitiveness Report (GCR) is a yearly report published by the .... World Economic Forum 28. On 1st October 2012, the Finance Minister Chidambaram unveiled 12-point revival package for the .... Insurance Sector 1. What is meant by Repo Rate? At what rate of interest banks barrow the funds from Reserve Bank of India for short term. 3. If the Repo Rate increases by Reserve Bank of India, rate of interest of the loans offered by the banks.. Increase 4. To control Inflation. RBI increases the Repo Rate 5. Reverse Repo Rate means the rate at which Reserve Bank of India (RBI) borrows money from banks.

NOTE: 20Directors of the Central Board of the Reserve Bank of India? One of the main attractive points of this bank is Pigmy Deposit Scheme, which accepts as low as Rs. 5 at the door steps of depositors through its agents. 10. SBI SMILE provides interest-free seed capital to. Small and medium enterprises 11. Committees relating to banking given. Pick 1) Janakiraman Committee - Securities transactions of banks 2) Kalia Committee - Banks and NGO, SHG loans 4) Khanna Committee - Supervisory framework for Non-banking Financial Companies 5) Kusro Committee - Agriculture Credit 13. On 19th November 2012, RBI ordered the banks not to give loans to buy Gold 16. Which card provides the instant and needy loan to farmers in India.? Kisan credit card 27. Disposable Income means.. The amount of current income available to households after the payment of taxes, insurance and pensions 1. is not a feature of Demand Deposits? 1) Multiple deposits allowed 2) Multiple withdrawals allowed 3) Withdrawals permitted through ATM 4) Withdrawals not permitted through ATM 2. At the time of opening of Savings Account, the Account Holder can write Nominee name. If Nominee dies first .. the account holder can write another nominee name 3. Praveen has an account in Union Bank of India. He issued a cheque of Rs.10000 to Ravi Kumar. Who is drawee in the above case? Union Bank of India 4. A has an account in State Bank of India. He issued a crossed cheque to B. Then B

should deposit cheque in his bank account 5. Dr. Santosh deposited Rs.10000 in his savings account and got counterfoil. In his pass book the deposit entry made and his present balance is Rs.15,000. Later he got mobile alert that he deposited Rs.1000 only. Then He need not worry because mobile alerts need not resemble the accurate balance in account. His balance stands at Rs.15,000. 6. A received PIN (personal identification number) for his debit card by post. Then .. he should not share this number with anybody 7. Vijay deposited Rs.5000 in Andhra Bank and got Demand Draft. He wants to cancel the Demand Draft. Then Demand Draft can be cancelled by Andhra Bank. However the cancellation charges may be there. 8. World Bank is a vital source of financial and technical assistance to Developing countries 11. How many member nations have the membership in IBRD? 188On 18th April, 2012 which country took membership in IBRD, becoming the latest member in IBRD? South Sudan 13. Who became the president of World Bank Group on 1st July 2012? He is the 12th President of the Group. Jim Yong Kim 15. World Bank has agreed to grant Rs 800 crore for the second phase of the watershed development programme called Gramya in the state of Uttarakhand 16. approved a $ 60-million credit to the Karnataka Watershed Development Project II (KWDP II) to improve watershed planning and management in project areas on 7th September 2012? World Bank

17. Central Government, Karnataka Government and the World Bank have signed a $70 million additional credit agreement for the ongoing .. Karnataka Health System Development and Reform Project

35. Which committee recommendations brought Universal Banking in India? R.H.Khan Committee 36. Which Committee suggested establishing the United Financial Agency? B.N.Krishna 1. Who has the sole right to mint coins in India? Government of India 2. Whose signature appears on coins? Coins do not bear the signature 3. Government of India withdrawn coins of denomination of 25 paise and below from circulation with effect from.....? 30 June 2011 5. To whom the world bank granted a concessional loan of $100 million for the implementation of low-income housing scheme? National Housing bank 6. On 4 April 2013, K.H.Muniyappa, the Minister of State (Independent Charge) of the Ministry of Micro , Small and Medium Enterprises (MSME) given the statement. His statement does not include.....

1) MSME sector contribute 9% of GDP 2) It accounts for around 45% of the manufacturing output 3) It contributes 36% of total value of exports 4) The sector has been growing consistently above 10% for the last five years 7. Who was appointed as the chairman to suggest the measures for enhancing MSME exports recently? R.S.Gujral 8. The Indian Life Assurance Companies Act was the first statutory measure to regulate life business in India. It was passed in ......? 1912 15. Factoring means...... business of buying trade debts at a discount and making a profit when debt is realized 19. Stagflation means .........? Persistent high inflation combined with high unemployment and slow economic growth 23. Where is the head office of Insurance Regulatory Development Authority? Hyderabad 27. On 13 June 2013, RBI slapped fine on new generation private banks. The main reason is for ......? violating rules of KYC (Know Your Customer) 29.USSD stands for .......? Unstructured Supplementary Service Data 32. In which country Bank of Baroda opened its 100th overseas branch on 28 March 2013? Dubai 33. Savings account become inoperative, if.... ? not operated at all during certain period as per the bank rules Key 1. Which Banks are established to help small and marginal farmers, agricultural labour, artisans and small entrepreneurs etc? Regional Rural Banks 2. In which year, the Banking commission submitted

the report to establish rural banks? 1972 3. Which prime minister mentioned the concept of 'Rural Banks' in Twenty-Point Programme announced on 1 July 1975? Indira Gandhi 4. On 30 July 1975, the working group on Rural Banks submitted report to the government of India. It was headed by ...? Narasimaham 5. In which year, the President of India issued the ordinance to establish Regional Rural Banks? 1975 6. Regional Rural Banks Act passed in...? 1976 7. In Regional Rural Banks, Central government holds 50% capital and Sponsored bank holds 35% capital. Who holds the remaining 15% capital? State government 8. Financial regulation of RRBs seen after by..? Reserve Bank of India 9. Supervisory powers of RRBs have been vested with....? NABARD 10. The first Regional Rural Bank India started by Syndicate Bank on 2 October 1975. It is.....? PrathamaGrammen bank at Moradabad in Uttar Pradesh 11. Regional Rural Banks are not found in the state of.....? Sikkim and Goa 12. Which committee recommended to permit RRBs to invest Non-SLR surplus funds in profitable areas? Bhandari 13. Which committee recommended for the amalgamation of RRBs? Vyas 14. On 22 April 2013, the Regional Rural Banks (Amendment) Bill, 2013 introduced to increase the authorized capital of RRB from Rs. 5 crore to Rs... (in crores) ? 500

15. As per the statement given on 24 June 2013, Companies planning to apply for bank licenses will be allowed how much per cent foreign direct investment (FDI) in their holding companies? 100% 16. Which international monetary organization granted $110 million to help Urban services in Jammu and Srinagar on 17 May 2013? Asian Development Bank 17. Maturity of Inflation Indexed Bonds issued by RBI on 15th May 2013 is.......? 10 Years 18. Clean Note Policy issued by RBI on 14 May 2013. As per RBI, on average what percentage of notes is disposed off after getting solid every year? 20% 19. Closed-end fund scheme means.......? A scheme of an investment company in which a fixed number of shares are issued 4) Company's offer to sell the assets at the lowest rate 20. AamAdmiBimaYojana, a Social Security insurance Scheme for rural landless household introduced by union government on 2nd October 2007. The scheme administered by...? LIC 21. Aim of Swavalamban is......? To encourage the people from the unorganised sector to voluntarily save for their retirement 22. Operation Ganga Prahar relates to.....? rescue operation of Army to rescue the stranded pilgrims in Uttarakhand 29. By which year, India surpass China to become most populous country in the world as per the estimates of United Nations report? 2028 31. The rate at which Reserve Bank of India

(RBI) borrows money from banks is.....? Reverse Repo Rate 33. If the Reverse Repo Rate increases, then bank...? funds decrease, as bank lend the funds to RBI due to rate hike 34. If the Reverse Repo Rate increases, then interest on loans offer by banks usually' increase 36. In the RBI's mid-quarter monetary policy review declared on 17th June 2013, RBI seriously concerned about ...? Rupee fall, external sector risks and elevated food inflation 37. As per the Annual monetary policy statement 2013-2014 announced on 3 May 2013 by RBI , which of the following BRICS nations showed the accelerated growth during 2012? South Africa and Brazil Aj-u.R--u 1 1. Which of the following is not the Traditional function of RBI? 1) Issue of Currency Notes 2) Banker to the Government 3) Subsidies to people 4) Banker to Bank 2. Exchange Rate Management is the ..................... function of RBI. Traditional 3. Which Paper Currency denomination not issued by RBI? Rs.1 4. Currency issued by RBI (and also by government of India) is called ............. Legal Tender 5. On the RBI issued paper currency, who put the signature? Governor 6. Rs.1 paper currency issued by ...... Government of India 7. Rs. 1 paper currency sign by ........... Finance Secretary 8. Which Act conferred the monopoly on Government of India to issue currency notes, ending the issue of currency by presidency

and private banks? Paper Currency Act 1861 9. Government of India issued the entire currency notes till ............. establishment of RBI 10. In which year the RBI first time issued Rs.5 Bank Note bearing the portrait of George VI? 1938 11.The denomination of any paper currency to be minted by RBI decides by ... Government of India 12. As per the present rules, RBI can issue the paper currency denomination up to the value of ............. Rs.10,000 13. First time Rs.1000 and Rs.10000 bank notes were demonetized in........ 1946 14. In which year again the large value denomination bank notes Rs. 1000, Rs.5000 and Rs. 10000 were reintroduced? 1954 15. Second time Rs. 1000 and Rs.10000 (also Rs.5000) demonetized in the year of ..... 1978 16. Who decides the volume and value of bank notes to be printed each year? RBI 18. Which NBFC got the permission from RBI to establish 9000 White Label ATMs in the coming 3 years@2013-2016 Muthoot Finance 22. DICCI SME Fund is India's first ........... SEBI registered fund for Dalits 25. Put Option means ............ Right to sell a certain amount of shares at a specific price and within a given time frame 42. In which bank recently, LIC purchased Rs.500 crore non-convertible bonds? United Bank of India 43. On 1 July, 2013 RBI declared that Banks face the huge asset-liability mismatch

in .............. home Loans 44. Certificates of Deposit (CDs) were introduced in India in ........... 1989 45. Certificates of Deposit is a ......... negotiable money market instrument or a Promissory Note against funds deposited at a bank 46. Certificate of deposit issued by banks except ........... 1) Public Sector Banks 2) Private Sector Banks 3) Regional Rural Banks 4) all of above 5) None 47. The minimum amount of Certificate of Deposit can be issued Rs ........ (In lakhs) 1 48. Bank's Certificate of Deposit maturity period minimum period is 7 days and maximum period is ..............(in years) 1 49. Financial Institutions' Certificate of Deposits minimum period is 1 year and maximum period is .............. (in years) 3 50. As per RBI order, whether loan can be granted against the Certificate of Deposit... loan can not be granted

2. The highlight of demand deposit is ....... 1) multiple deposits 2) multiple withdrawal 3) Any time banking 4) Electronic mode of withdrawals 3. As per the direction of RBI on 18 March 2013, which facility provided to the customers on savings account must be discouraged? Receiving post datescheques in the case of EMI 4. The Savings Account can be opened by..... 1) Senior Citizen 2) Woman 3) Student 4) Billionaire 5. Whether Savings Account can be opened Jointly (Joint Account)? Yes

6. A bank given advertisement that SWAP facility available in Savings Account. It means..... the higher amounts in the account move to higher interest accounts 7. In the opening of Savings Account (few other accounts also) bank ask to write Nominee name. Who shall be nominee? Close blood relation only 8. Nominee's age in the savings account ...... any age 9. Savings account become inoperative, if the account ......... not operated at all during certain period as per the bank rules 10. Consider the following statements. a) A person saves money from his regular income b) He wants to save the money in an account which permits withdrawals any time with rational rate of interest c) He also want to issue cheques in favour of others d) He wants to use ATM card also The most suitable account for him is ....? Saving account 11. The facts relating to the current account deficit as told by RBI on 3 May 2013 given. 1) Current Account Deficit (CAD) as the biggest risk to Indian economy. 2) had touched a record high of 6.7 percent in the December quarter of last fiscal year 3) outlook for Advanced Economies (AEs) remains uncertain, and even if there may be no event shocks, there could well be process shocks which could result in capital outflows from emerging developing economies. 4) It said it concern over rising external debt and short-term borrowings to meet the widening CAD. 12. In a continue effort to curb the rupee volatility, which of the measure not taken by RBI on 16th July 2013? Increased the SLR to 25% to curb the circulation

of money up to Rs.1,20,000 crores 13. World Bank has approved a concessional loan of $ 100 million for the National Housing Bank on 17 May 2013. 1) The loan was granted implementation of a low-income housing programme 2) The programme will support NHB in refinancing mortgage loans 4) NHB is the regulator of Home loans given by HFC 14. Which International Monetary Organization granted $ 100 million to Jammu & Kashmir for the development of infrastructure? ADB 15. $84 million granted by ... to strengthen panchayath project in Bihar on 27 June 2013. World Bank 19. Which familiar combination come under ''Demand Deposits''? Saving Account, Current Account 25. The general level of prices increase over time is called ......... inflation 26. Sustained decrease in the average price level is called .......... deflation 27. Demand-pull inflation is an inflation that results from an initial ......... increase in aggregate demand 28. Where the inflation of a nation increases gradually, but continually, over time is called ....... creeping inflation 29. 'Very rapid inflation which is almost impossible to reduce it' is called....... galloping inflation 30. If the cost of production rise, for one reason or another, and force up the prices of finished goods and services it is called ....... cost-push inflation 31. In its mid-quarter review of the monetary policy, announced on 17 June 2013, what

reason told by RBI for the continuation of inflation in India? Food prices 34. ......... committee look in to issues relating to financial bench-marking and examine if they have become obsolete and need changes. The committee appointed by RBI on 28 June 2013. Vijay Bhaskar 35. According to a recent ruling by the Supreme Court, in cheque bouncing case for a cheque issued from a joint account, who can be prosecuted under Section 138 of the Negotiable Instruments Act? Only the person who signed the cheque 36. The British Indian business tycoon Sanjeev Kapoor bought Hypo AlpeAdria bank having headquarters in ....... Austria 2. Details of Bank of Baroda given. Pick the 2) Its logo has dual B letter forms that hold the rays of the rising sun. 3. Statements relating to Bank of Baroda 1) Bank of Baroda head office is in Mumbai. 2) BOB Cards limited, BOB Capital Markets Ltd and Nainital Bank Limited are its subsidiaries. 3) CNBC TV18 conferred the India Best Banks and Financial Institutions Awards 2012 award on Bank of Baroda. 5) It recently opened 100th overseas office in Dubai on 28th March 2013. 4. Which bank in India provides rural counseling, financial literacy and other services, are now operational in 52 centers under the name of GrameenParamarshKendras? Bank of Baroda 5. 'India's International Bank' is the punch line of ......... Bank of Baroda 6. On 22 June 2013, which bank inaugurated the national pilot agri-loan factory at Himatnagar in Gujarat? Bank of Baroda 7. Legal & General (UK), Andhra Bank and

which another Indian Bank commenced a Life Insurance joint venture by name M/s India First Life Insurance Co Ltd? Bank of Baroda 10. Which is the first nationalized bank in India to start the fully computerized branch? Bank of India 11. Which is the first nationalized bank in India to start ATM in 1989 in Mumbai? Bank of India 12. First Indian bank to open a branch outside the country, at London, in 1946 is.... Bank of India 13. 'Star Union Dai-ichi Life Insurance Co. Ltd' is the joint venture of Union Bank of India, Dai-ichi Mutual Life Insurance Company and .......... Bank of India 14. India's 4th largest Public sector bank is ... Bank of India 16. 'ABHAY' is the credit counseling center of ......... Bank of India 17. On 11 June 2013, RBI raised the limit for online repatriation of export proceeds to... $ 10000 18. RBI made it mandatory for units in Special Economic Zones to repatriate full value of exports within.. 12 months 19. On 25 June 2013 CRISIL launched a financial inclusion index. It is ....... Financial Inclusix 20. As per CRISIL index on Financial inclusion which part of India is top in the financial inclusion? South India 21. Top three States/ Union territories in terms of financial inclusion are ...... as per CRISIL index. Puducherry, Chandigarh and Kerala 22. To whom the Central Govt. had given ample powers to tackle ponzi schemes?

SEBI 23. Former Goldman Sachs Bank Chairman Rajat Gupta is accused in .......... Insider trading scam 25. Statements relating to IFCI given. 1) IFCI means Industrial Finance Corporation of India. 2) It was established on 1 July 1948 under the Industrial Finance Corporation Act of 1948. 3) It provides medium and long term financial assistance to large scale industrial undertakings. 26. As per the recent report published by FATF, an inter-governmental body, India has addressed shortfalls in its black money fight. Expand the term FATF. Financial Action Task Force 27. IRDA (Insurance Regulatory Development Authority) removed ....... percent investment limit on reverse repo transactions for insurance companies on 3 April 2013. 10 2. First full pledged legislation to allow the formation of Co-operative Societies is ....... Co-operative Credit Societies Act, 1904 3. The first Act to pass to pave the establishment of Co-operative banks Co-operative Credit Societies Act, 1912 4. Which committee was appointed in 1944 to give recommendations to improve co-operative movement? MacLagan 5. Which sector is the major beneficiary of Cooperative banking system till 1969? Agriculture 6. Indian Co-operative Bank system is ........ Federal 7. On 13 April 2013, RBI decided to cancel the licenses of 26 loss-making co-operative banks as they got losses. Majority of them are in .....

UP 8. ......... is the apex of the three-tier co-operative structure in India. State Co-operative banks 9. Which bank finance, coordinate and control the working of District Central Co-operative Banks in the states? State Co-operative Bank 10. State Co-operative Banks (SCB) usually lend ....... 1) District Central Co-operative Banks 2) Primary Co-operative banks 3) to individuals in exceptional cases 11. Capital of State Co-operative Banks (SCB) mobilized from ........ 1) Members of District Central Co-operative Banks 2) Members of Primary Cooperative banks 12. The external lending agencies to State Cooperative Banks (SCB) are ...... 1) NABARD 2) Development Banks 3) State Government 4) Financial institutes 13. ........ is the intermediate rung in the threetier Co-operative Credit structure. District Central Co-operative Banks 14. The funds of District Central Co-operative Banks arisen from .......... 1) NABARD lending 2) State government 3) Affiliated Co-operative societies 4) Funds from State Co-operative Banks 15. Gross level of arms of the short term cooperative credit structure is ........ Primary Agricultural Credit Society 16. The functions of Primary Agricultural Credit Society is ....... 1) lending 2) mortgage 3) pledge 4) accepting deposits 17. Primary Urban Co-operative banks established with the aim of giving delivering banking services in .... areas. Urban 18. By which date, the Urban Co-operative banks must implement CBS facility

in all its branches as per the order of RBI on 13 March 2013? 31 December 2013 19. The recent actions/ orders of RBI to control Co-operative banks given. Pick the correct one. 1) Customers of Pune-based Rupee Cooperative Bank restricted by limiting the amount of money that depositors can withdraw up to Rs.1000 only. It is pune based bank. 2) On 5 March 2013, RBI asked Urban Cooperative Banks (UCBs) to take necessary steps to ensure smooth transition to new international accounting norms IFRS from April 2014. 3) Amanath Co-operative Bank can conduct a financial transaction of not more than Rs.1,000 per account a day as per the directions of RBI on 7 April 2013. It is Karnataka based bank. 4) On 8 January 2013, RBI notified that all co-operative banks should not issued cobranded ATM cards without approval of RBI. 20. Primary Urban Co-operative Banks norms reviewed on the recommendations of ....... committee. K.MadhavaRao 22. Which is India's largest co-operative bank in India looking to acquire the Pune-based Rupee Co-operative Bank? Saraswat Co-operative bank 23. In an effort to defend rupee, the Union government proposed to hike in the foreign investment limit in government debt by ..... $ 5 billion 36. Informal method of borrowing is familiar from ....... Money lenders 37. State Bank of Pakistan is the central bank of Pakistan. Its headquarters is in ....... Karachi --u 1 5. Which among following served as the governor

of RBI and Finance Minister of India? C.D. Deshmukh and Manmohan Singh 6. Board of Financial Supervision (BFS) of RBI started in ......... 1994 7. Board of Financial Supervision of RBI formed as a committee of the central Board of Directors of RBI. The Committee headed by ............. Governor of RBI 8. Aim of Board of Financial Supervision (BFS) of RBI to undertake the consolidated supervision of the financial sector comprising the financial organizations, Commercial banks and ............ NBFC 9. Which legislation authorized RBI to inspect commercial banks? Banking Regulation Act, 1949 10. Which among the following is not the function of BFS of RBI? 1) Off-site supervision of banks 2) Strengthening of inspections 3) Orders relating to payment gateways 4) Strengthening role of Auditors 5) None 11. Finacle Core Banking and McCamish Insurance products are going to be launched by ........ Infosys 13. SWIFT started its live operations from 9th May ......... 1977 14. SWIFT has headquarters at .......... Brussels 15. The upgraded SWIFT II system introduced in ........... to which system the most Indian banks are hooked. 1989 16. To use SWIFT based system, each country required to install CBT. CBT means ... Computer Based Terminal 18. G. Padmanabhan committee appointed by RBI to give the recommendations on .......... Export Finance 19. RBI constituted committee under the chairmanship of ........ to review the Ombudsman

Scheme on 7 January 2013. Suma Verma 20. Reconstituted the advisory board on bank, commercial and financial frauds headed by ..... ShyamalaGopinath 21. High powered committee headed by ..... will submit recommendations of merger of SBI Associates with SBI? S. Vishwanathan 23. Who heads the RBI panel recently said that to encourage housing activity, introduction of fixed-rate loans for up to 30 years? K.K.Vohra 24. R J Kamath given recommendations on ... Education Loan 25. Narasimhan committee relates to banking reforms, UshaThorat committee deals with Financial Inclusion, Rajmannar committee recommends on ........ Changes in Banking Laws and regarding cheque bounce 26. RBI permitted to open first Sharia based Non Banking Finance Company in ........ ? Kerala 27. High level panel headed by Deepak Parekh has recommended increasing tariff for both the imported coal-based thermal station. Deepak Parekh is ....... ? Chairman, HDFC 34. POS' is the acronym used in banking. It means ......... Point of Sales Terminal 35. NIM stands for ............. ? Net Interest Margin 36. Ways and Means is the load of Advances provided by the RBI to ........ State Government 39. First woman Managing Director of SBI? 1) Arundhati Bhattacharya 40. Which bank opened Customer Service Point (CSP) to extend financial inclusion targeting urban poor?

SBI 41. 'MaaThota' scheme in Andhra Pradesh sponsored by ........... to improve the lot of tribal families. NABARD 42. Which Bank in India opened India's first offshore banking Unit? SBI 43. .......... promoted Securities Trading Corporation of India Limited (STCI) jointly with the Public sector Banks. RBI 44. Which banks have comfortably retained the top rank in terms of profits/ employee, as per the data released by the Reserve Bank of India on 30 June 2013? Foreign Banks Key 1. Which international Committee formulates broad supervisory standards and guidelines and recommends statements of best practice in banking supervision? BASEL 2. Basel Committee on Banking Supervision (BCBS) is a committee of banking supervisory authorities, having headquarters at Basel in --------? Switzerland 3. Present Chairman of BASEL committee is Stefan Ingves, belong to -----? Sweden 4. RBI rescheduled the start date for implementation of Basel III norms to ---------- from 1 January 2013? 1 April 2013 5. RBI has set up a supervisory college for SBI and ICICI bank to help its members ---------? to develop a better understanding of the risk profile of the banking group

14. A system of recording all of a country's economic

transactions with the rest of the world over a period of one year Is called ---------------? Balance of Payments 15. Fiscal Policy refers to -----------? Government Taxes, Expenditure and Barrowings 18. Banks established to help small and marginal farmers, agricultural labour, artisans and small entrepreneurs are ---------? Regional Rural Banks 19. On 27 December 2012, the Chikmagalur KodaguGramin Bank sponsored by Corporation Bank was amalgamated with Cauvery KalpataruGrameena Bank, sponsored by ------------? State Bank of Mysore 20. As per RBI report on 2 Jan 2013, the Regional Rural Bank's CD (credit-deposit) ratio increased to 63.3 per cent from the earlier ---------? 59.5 per cent 21. On 18 December 2012, LokSabha cleared the Banking Amendment Bill. The correct statement is ------------? 1) It dropped the idea of entering of banks into commodity futures trading 2) Competition Commission of India (CCI) got the power to investigate and clear mergers and acquisitions in the banking sector 3) The cap on voting rights for investors in private sector banks rise to 26 percent from 10 percent 4) The cap on voting rights for investors in public sector banks rise to 10 percent from 1 percent 5) All of above 22. On 13th February 2013, Securities and Exchange Board of India (SEBI) ordered freezing of bank accounts and attachment of properties of two ------------?

Sahara group firms 31. Rs ------ crore of capital infusion of Public sector banks agreed by Union Cabinet on 10 January 2013? 12,517 32. Recently, RBI ordered the banks not to give loans to buy -------------? Gold 33. Usually the Banks in our country, declare the additional rate of interest to ------ on retail domestic term deposits? Senior Citizens 1. What does 'I' denote in the abbreviation FIPB? Investment 2. Which is the largest bank in the private sector in India in terms of number of branches? ICICI Bank 3. Which organization was set up to boost overall rural development in India? NABARD 6. Which agency was set up to boost foreign investments in India? FIPB 7. Expand the term FSDC? Financial Stability and Development Council 8. Expand the term CCEA? Cabinet Committee on Economic Affairs 9. Which agency/institution has launched a micro ATM that would enable beneficiaries like MGNREGA workers with Aadhar to withdraw money near their doors through core banking system? UIDAI 10. The value of all final goods and services produced in a country in a given year is known as? GDP 12. Which of the following financial institutions was established in 1990 to promote micro, small and medium-scale enterprises in India? SIDBI 16.DEPB is an export incentive scheme of the Indian Govern-ment provided to exporters in India. What is its full form? Duty Entitlement Pass Book 17.What does the letter 'M' denote in the abbreviation MRTP, an act that has been repealed? Monopolies

22.Which of the following banks was merged with the State Bank of India on August 26, 2010? State Bank of Indore 23.Banking falls under which of the following sectors? Service

24.A savings bank account with zero or minimum balance is known as? No Frills Account 25.Which of the following Acts controls banking activities in India? Banking Regulation Act, 1949 26.Which of the following banks has reappointed Shikha Sharma as Managing Director and Chief Executive Officer for a further period of three years with effect from June 1, 2012 to May 31, 2015? Axis 27. Lack of access to financial services is called? Financial inclusion 29. Which of the following is not a function of the National Bank for Agriculture and Rural Develop-ment (NABARD)? It formulates, implements and monitors the monetary policy.

30. What does the letter 'M' denote in the abbreviation MFI? Micro 31. The bank rate is set by? The Reserve Bank of India 32. Which of the following is not a name of the Securities Exchange Board of India (SEBI) approved Indian Credit Rating Agency? CRISIL 33. Special Drawing Rights (SDRs) are the international reserve ass-ets created by which of the following institutions in 1969 to supplement its member countries' official reserves? International Monetary Fund 29. The minimum interest rate fixed by individual banks below which they cannot lend funds is called? Base Rate 30. In which of the following accou-nts the amounts are deposited and are withdrawn as per the requirement of the customers? Savings bank accounts

38. Business Correspondents (BCs) are used by banks to achieve? Financial Inclusion 39. Which of the following is a foreign bank having branches in India? Standard Chartered Bank 3. Which of the following is/are considered as retail loans? 1) Personal loans 2) Educational loans 3) Auto loans 4) Home loans 5) All the above 9. Which state has become the first state in the country to issue e-stamp papers in all denominations? Delhi 18. Which of the following is an asset reconstruction company? ARCIL 28. Which country has developed a rating index called ' Comparative Rating Index of Sovereigns' (CRIS) on the basis of sovereign ratings of various countries compiled through rating data of Moody's and GDP data of the International Monetary Fund? India 29. Which of the following private banks is/are eligible to handle central and state government business as agents of the Reserve Bank of India, at par with public sector banks? All private sector banks

32. Which of the following is a non institutional source of credit? Moneylenders

35. What is the full form of NRE deposit? Non Resident External 36. Which bank has introduced the Tiny card with biometric iden-tification to achieve Financial Inclusion? (The Tiny card prov-ides easy banking services for underprivileged communities) State Bank of India

38. What is the maximum balance amount that is eligible for earning interest in a normal savings bank account? No limit 40. Expand CDR as used in banking sector? Corporate Debt Restructuring

41. The security paper is used for printing currency notes. Where is the Security Paper Mill located? Hoshangabad 42. Expand the term IPR as used in the field of world trade? Intellectual Property Rights 43. Expand the term FATF? Financial Action Task Force 44. The rate at which banks lend their surplus funds to RBI is called? Reverse Repo Rate 45. In which of the following cities is the head office of the Bank of Maharashtra located? Pune 46. 'Carbon Credit' is concerned with which of the following issues? Environment protection 47. 'Deficit Financing' means the Government borrows money from the? RBI 48. What is the full form of ASBA? Application Supported by Blocked Amount

49. What is the full form of 'CEPA'? Comprehensive Economic Partnership Agreement 50. What is the full form of BIFR? Board for Industrial and Financial Reconstruction 51. What does the term 'Depreciati-on' mean? Reduction in the value of an asset as a result of wear and tear 52. What is the full form of IRAC as used in financial sector? Income Recognition Asset Classification 53. CRR is maintained in the form of? Cash balances with RBI 54. What is the minimum capital required for opening new banks in the private sector according to the new guidelines issued by the Reserve Bank of India? Rs.500 crore 55. Insurance that is purchased by an insurance company from another insurance company as a means of risk management is called? Reinsurance 56. What is the full form of BPLR? Benchmark Prime Lending Rate 57. What is the first quarter (April-June) gross domestic product (GDP) growth for the year 2012-13? 5.5%

58. Which of the following is a function of the Reserve Bank of India? Issuing Banknotes 59. An excess of expenditures over revenues is called? Budget deficit 60. What does the letter 'C' denote in the term 'ECB' as used in the banking and financial operations? Commercial

63. What is Bancassurance? Sale of insurance products through a bank 64. What is the full form of PIN in ATM card? Personal Identification Number 65. Which Act was framed to deal more effectively with the problem of Non Performing Assets (NPAs) in banking system? SARFAESI Act 66. Money deposited at a bank that cannot be withdrawn for a preset fixed period of time is known as? Term Deposit 67. Which of the following provides a network that enables financial institutions worldwide to exchange messages about financial transactions in a secure and reliable environment? SWIFT 68. Who headed the committee to review the structure of the National Small Savings Fund (NSSF)? ShyamalaGopinath 69. Which of the following is not required to open a bank account? Domicile Certificate 70. Which banks are insured by the Deposit Insurance and Credit G-uarantee Corporation (DICGC)? 1) Public Sector Banks 2) Private Banks 3) RRBs 4) Foreign Banks functioning in India 5) All the above 71. RBI has made it mandatory for all banks to print which of the following on the Passbook and Statement of Account of the customers? MICR code and IFSC code 72.An economic system combining private sector and public sector is called? Mixed economy

73.Which of the following is not decided by the Reserve Bank of India? Rate of Dearness Allowance to Government employees 75. Which of the following has launched 'Bank Branch Locator', a dynamic database that gives information on location of branches of a bank? RBI 78. Which of the following committees dealt with reforms in Banking sector? Narasimham Committee

80. Which of the following state-ments is correct with regard to the basic savings accounts? 1) RBI introduced 'no-frills' accounts in 2005. 2) These accounts will provide basic banking facilities to the poor and promote financial inclusion. 3) RBI has asked banks to convert the existing 'no-frills' accounts into 'Basic savings bank deposit accounts'. 4) There is no limit on the number of deposits that can be made in a month but the basic savings bank deposit account holders will be allowed a maximum of four withdrawals in a month, including through ATMs. 5) A minimum balance should not be maintained in these accounts. 82. Which of the following is not a scheduled commercial bank? NABARD 83. Which of the following is an effort in the direction of Financial Inclusion? No-Frills Accounts 84. How many banks were nationalized on July 19, 1969? 14 85. Which of the following is called as the Bankers' Bank in India? Reserve Bank of India 88. ANZ is a foreign bank based in? Australia 89. Which of the following stock exchanges has become the world's largest bourse in terms of the number of trades in equity segment for the first six months of 2012? NSE 93. Which of the following is the central bank of Pakistan with its headquarters in Karachi? State Bank of Pakistan

94. Department of Economic Affairs is part of which of the following Ministries? Finance 95. Union Budget which is presented by the Finance Minister every year is also known as? General Budget 99. Which of the following statements about Regional Rural Banks (RRBs) is not correct? The first RRB was established in 1982. 101. Which of the following is considered an informal method of getting credit/finance? Going to money lenders

103. RBI Governor D.Subbarao declared which of the following as the first district in the country to achieve total and meaningful financial inclusion on Nove-mber 22, 2012? (This district with a population of 32 lakh, has 37 lakh savings bank accounts) Ernakulam (Kerala) 104. The Government of India exten-ded the term of SubirGokarn till December 31, 2012. He is? Deputy Governor of RBI 108. The terms Bulls and Bears are used in? Stock Market

TEST - V: GENERALAWARENESS 161. A worldwide financial messaging network which exchanges messages between banks and financial institutions is known as? SWIFT 162. Buy now & pay later refers to? Credit Cards 163. Which one of the following is not 'Money Market Instrument'? Fixed Deposit 164. Which one of the following is a retail banking product? Corporate Term Loans 165. Finance Ministry has asked the RBI to

allow common ATMs that will be owned and managed by non-banking entities hoping to cut transaction costs for banks. Such ATMs are known as? White label ATMs 166. Which of the following is NOT a function of the Reserve Bank of India? Fiscal Policy Functions 167. Which of the following is NOT required for opening a bank account? Domicile Certificate 168. What is the maximum deposit amount insured by DICGC? Rs.1,00,000 per depositor per bank 169. The present Foreign Trade Policy of India will continue till? Mar 2014 170. With reference to a cheque who is drawee? The bank upon which the cheque is drawn. 171. In which of the following fund transfer mechanisms, funds can be moved from one bank to another and where the transaction is settled instantly without being bunched with any other transaction? RTGS 172. Banking Ombudsman Scheme is applicable to the business of ? All Scheduled commercial banks including RRBs. 173. Nationalization of banks aimed at all of the following except? Provision of credit to big industries only. 174. Which one of the following banks is headed by a woman CEO? ICICI 175. Base Rate is the rate below which no Bank can lend their funds. Who sets up this 'Base Rate' for Banks? Individuals Banks Board 176. What is a 'Debit Card'? It is a card which can be used for withdrawing cash or making payment at Point of Sales (POS) if there is balance in the account.

177. Axis Bank is a? Private Sector Bank 178. By increasing repo rate, the economy may observe the following effects ______ Rate of interest on loans and advances will be costlier. 179. Increased interest rates, as is existing in the economy at present will_______ mean higher cost of raw materials. 180. Which of the following schemes is launched to provide pension to the members of unorganized sectors in India? Swavalamban 181. A cheque returned for insufficiency of funds. Payee will have right to issue notice and approach court of law for justice under section 138 of which act? Negotiable Instrument Act 182. Which of the following is an example of Financial assets? 1) National Saving Certificate 2) Infrastructure Bonds 3) Indira Vikas Patra 4) Krishi Vikas Patra 183. Bank branches which can undertake foreign exchange business directly are known as: Exchange branches 184. The Financial Literacy does include which of the following? 1) How to invest the funds 2) How to use the limited funds carefully 3) How to minimize the risks 4) How to reinvest the money earned 185. 'ADB' refers toAsian Development bank 186. When a banker talks about CDR, what is he talking about? Corporate Debt Restructuring 187. Expand the term ALM as used in Banking/ Finance sector? Asset Liability Management

193. The Head of the Public Sector Bank in India is designated as? Chairman and MD 2. On 11 September 2013, RBI said the BSBDA account is also applicable to Foreign banks as they are also Scheduled Banks. It provides zero balance accounts to poor people. What is the expansion of BSBDA? Basic Savings Bank Deposit Account 3. SBI opened its 15000th branch in Sooranam in .......... on 17 August 2013. Tamilnadu 4. If the involvement of financial intermediary in aiding credit creation without regulatory oversight is called ... Shadow banking 5. On 23 August 2013, RBI sold 48 days CMB to meet the temporary cash flow mismatches of the Government of India. CMB means ....? Cash Management Bill 6. On 8 August 2013, RBI declared the ....... sale of government bonds to decrease the liquidity of funds in the market? weekly 7. As per the promise given to World Trade Organization earlier, India should allow how many branches of foreign banks in India per year? 12 8. The Reserve Bank of India had given statement relating to the growth of bank deposits and credit of 2012-13 given. Pick the correct statement. 1) Banks have recorded credit and deposit growth of 14 percent each in 2012-13. 2) RBI had projected credit and deposit growth of 16 percent and 15 percent during the same period. 3) It means banks had shown the credit grow by Rs.6,76,176 crore and deposit grow by Rs.8,65,208 crore. 4) credit demand was sluggish due to slowdown in the economy and Deposits accretion also was impacted as inflation adjusted returns were negative due to high inflation.

9. First breast milk bank inaugurated on 7 August 2013 at ...... Kochi 10. On 4 September 2013, Raghuram announced constitution of a panel to strengthen monetary policy framework headed by .... Urjith Patel 11. Nachiket Mor appointed as the head to assess the approach to financial inclusion by ... RBI 12. ...... heads the panel to take a close look at rising NPAs and suggest steps to improve the recovery of bad debts as announced by RBI on 4 September 2013? K.C.Chakravarthy 15. ..... became the first state to disburse salary of its staff through their Aadhaar-linked bank accounts as declared on 7 August 2013? Maharashtra 16. How many banks taken as share holders to widen the shareholding of National Payments Corporation of India (NPCI)? 49 banks 18. A method of paperless banking to augment environment conservation through paperless banking transactions, which are also faster than conventional transactions is called .....? Green Banking Channel 19. e-Gift card facility first time introduced by... Axis bank 20. Which bank of Andhra Pradesh opened 1.5 lakh no-frills accounts in eight districts on a single day as part of Direct Benefit Transfer (DBT) scheme of the Union Government recently? APGVB 21. On 2 September 2013, which bank became the first bank to translate financial literacy curriculum into Gujarati? Axis

22. RBI asked banks to link the disbursal of home loans to ...... on 3 September 2013, as it advised the banks not to go for the upfront disbursal of loans. stages of construction 23. To help mutual funds, how much fund borrowing window opened by the RBI recently? Rs.25,000 cr 24. On 14 August 2013, RBI cut down the amount of foreign exchange an Indian may use to invest or spend abroad from the current annual limit of $ 200,000 to ...... $ 75,000 25. On 21 July 2013, RBI reduced realization period for exporters to ..... 9 Months 26. China Central Bank lifted the ban on .... to motivate the economy to boost its growth on 19 July 2013? lending rates Mail your comments and suggestions to General Awareness A. Veeraswamy Key 1. ''My Journey: Transforming Dreams into Actions'' written by 1) Hamid Ansari 2) Chetan Bhagat 3) Abdul Kalam 4) Sarojini Naidu 5) Bhagat Singh 2. If the Interest that has been earned but not yet paid is called ...... Accrued Interest 3. In a merger, the bank that absorbs the bank acquired is called ..... Acquiring Bank 4. Which among the following is not correct regarding the Adjustable-Rate Mortgages (ARMS)? In this loan, the customer must open Fixed deposit account 5. Any change involving an erasure or rewriting in the date, amount, or payee etc. called.... Alteration 6. Cost of credit on a yearly basis, expressed

as a percentage, is called.... Annual Percentage Rate (APR) 7. Return on an investment over the course of a year is called .... Annual Percentage Yield (APY) 8. Act of evaluating and setting the value of a specific piece of personal or real property is called ..... Appraisal 9. When funds deposited into an account will be available for withdrawal is called ...... Availability date 10. Usually process of moving an outstanding balance from one credit card to another credit card is called ..... Balance Transfer 11. Person, firm, or corporation has insufficient assets to cover their debts is called ....... Bankrupt 12. Which certificate signed by a lender indicating that a mortgage has been fully paid and all debts satisfied? Certificate of Release 13. Conversion of data on cheque into an electronic image after a check enters the processing system, which eliminates the need to return cancelled checks to customers is called ...... Cheque truncation 14. If the credit to be repaid in full along with any interest and finance charges by a specified future date is called .... Closed-End Credit 15. Deposits in the form of cheques that have been presented for payment and for which payment has been received is called ...... Collected funds 16. The assets that are offered to secure a loan or other credit called ... Collateral Assets 17. Company hired by a creditor to collect a debt that is owed called as.... Collection agency 18. National Media Center opened on

25 August 2013 at ....... New Delhi 19. If an agency collects individual credit information and sells it for a fee to creditors to make a decision on granting loans is called ...... Credit Bureau 20. Detailed report of an individual's credit history prepared by a credit bureau and used by a lender to take loan is called .... Credit report 21. Percentage of a consumer's monthly gross income that goes toward paying debts is called ..... Debt -to- Income Ratio 22. Deferred Payment means ..... payment postponed until a future date 23. If a debt not paid when due is called ...... Delinquency 25. Which of the following statement is wrong relating to GIRO transfer? First GIRO transaction done in USA military service in 1975. 26. The GIRO arrangement can be done by requesting the bank to make on time payment to the billing organization by the due date. This includes the payment of .... 1) Telephone bills 2) Credit card dues 3) Utility bills 4) Taxation bills 27. Report of the Committee to study the feasibility of implementation of GIRO based payment system in India headed by .... G. Padmanabhan 28. For improving the payment and settlement systems, RBI declared ... Vision statement for Payment Systems in India (2012-15) 29. Which account refers to an arrangement where assets or revenue streams are held in the safe custody of a Bank as safety

against a situation when a contract is not fulfiled? Escrow account 30. The advantage of Escrow account .... 1) more security and comfort 2) compliance with regulatory requirements 3) safe custody of cash/ documents 4) easy monitoring 31. The Escrow accounts familiar in the use of.. 1) buy back shares 2) take over of the companies 3) purchase and sale of land 4) project financing 33. Recent measures taken by RBI or government of India to curb the gold imports given. 1) banning the import of gold in the form of coins and medallions declared on 14 August 2013 2) hikes import duty on gold to 10 percent on 13 August 2013 4) customs duty on gold bars, ore or concentrate increased to 8 percent on 13 August 2013 5) RBI moves to tighten gold imports again, making them dependent on export volumes on 22 July 2013
K.SATISH KUMAR MCA, LLB & IAS ASPIRANT G.K. FACULTY OF T.I.M.E. VIZAG 530026 Mail: satishkumar.k18@gmail.com/facebook.com Ph: 8686299233

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