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Sunday,9August2015

Questionnaire on Union Budget 2015-16


1.IntheUnionBudget,rateofServiceTaxwashikedfrom12%to____14%
2.IntheUnionBudget201516,FiscaldeficitseenathowmuchpercentofGDPin2015/16?3.9
%
3.HowmuchamounthasbeenallocatedtotheRuralInfrastructureDevelopmentBankintheUnion

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Budget201516?Rs.25,000crore
4.AccordingtotheUnionBudget,twonewIIMwillbeopenedinwhichofthefollowingstates?
Jammu&KashmirandAndhraPradesh
5.AccordingtotheUnionBudget201516,NonBankingFinancialCompanies(NBFCs)registered
withReserveBankofIndia(RBI)above_______willbenowconsideredasfinancialinstitutions?
Rs.5,000crore
6.HowmuchamounthasbeenallocatedforRuralEmploymentGuaranteeSchemeintheUnion
Budget201516?346.99billionrupees
7.HowmuchamounthasbeenallocatedtoDefencesectorintheUnionBudget201516?Rs.
2,46,726crore
8.AccordingtotheUnionBudget,howmuchpercentofRevenueDeficittobeseenin201516?
2.8%
9.AccordingtotheUnionBudget201516,howmuchpercent,rateofcorporatetaxwillbereduced
overnextfouryears?25%
10.AccordingtotheUnionBudget201516,nowdetailsofPANhastomentionedcompulsoryfor
transactionsformorethan_____.Rs.1lakh
11.IntheUnionBudget201516,increaseinthelimitofhealthinsurancepremiumfromcurrentRs
15,000to____.Rs.25,000
12.HowmuchamounthasbeenallocatedformicroirrigationwatershedprojectsintheUnion
Budget201516?Rs.5,300Crore
13.HowmuchamounthasbeenallocatedtoInfrastructuresectorintheUnionBudget201516?
Rs.70,000crore
14.AccordingtotheUnionBudget201516,Visaonarrivalforhowmanycountries?150
15.AccordingtotheUnionBudget,Centreoffilmproduction,animationandgamingtocomeupin
_____.AP
16.OnwhichdateUnionBudget201516waspresentedinParliament?28February2015
17.NametheUnionFinanceMinisterwhopresentedtheUnionBudget201516inParliament?
ArunJaitley
18.PersonalIncomeTaxlimitwasnotchangedinUnionBudget201516.Whatisthepresent
PersonalITexemptionlimit?Rs2.5lakh
19.HealthInsurancePremiumdeductionhikedfromRs.15,000to?Rs.25,000(forsenior
citizenstoRs.30,000)
20.TransportallowanceexemptionhikedtoRs.1,600,from____permonth?Rs.800
21.PANcardismustforallpurchaseabove______rupeesasproposedinBudget201516?Rs.
1lakh
22.Anadditional_____%surchargeonpeopleearningoverRs.1crwasputforthinthebudget
201516?2%
23.WhatchangewasmadeintheWealthtax?Wealthtaxabolished
24.DTCwasdroppedintheBudget201516.ExpandDTC?DirectTaxesCode
25.Corporatetaxtobereducedfrom30%to___overnextfouryears?25%
26.MudrabankstobeestablishedwithcapitalofRs.___crore?20000
27.Rs.____deductionforcontributiontoNewPensionScheme?Rs.50,000
28.GAARimplementationdeferredby2yearsto?April2017
29.ServiceTaxratehikedto___%from12.36%?14%
30.Taxfreebondswereproposedinbudgetfor?Roads,railways,irrigationproject
PostedbyVenkataRaghuramatSunday,August09,2015

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Privacy

108

Headquarters of Nationalized Banks


AllahabadBank:Kolkata
BankofIndia:Mumbai
BankofMaharashtra:Pune
CanaraBank:Bangalore
CentralBankofIndia:Mumbai
CorporationBank:Mangalore
DenaBank:Mumbai
IndianBank:Chennai
IndianOverseasBank:Chennai
OrientalBankofCommerce:NewDelhi
PunjabNationalBank:NewDelhi
Punjab&SindBank:NewDelhi
StateBankofIndia:Mumbai
SyndicateBank:Manipal
UCOBank:Kolkata
UnionBankofIndia:Mumbai
UnitedBankofIndia:Kolkata
VijayaBank:Bangalore
AndhraBank:Hyderabad

PostedbyVenkataRaghuramatSunday,August09,2015

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TAGLINES OF DIFFERENT BANKS


1.AllahabadBankAtraditionoftrust
2.AndhrabankForallyourneeds
3.BankofBarodaIndiasinternationalbank
4.BankofIndiaRelationshipsbeyondbanking
5.BankofMaharashtraOnefamilyonebank
6.CanaraBankTogetherWeCan
7.CentralbankCentraltoyousince1911
8.DenaBankTrustedFamilyBank
9.IndianBankTakingbankingtechnologytothecommonman
10.OrientalbankofCommerceWhereeveryindividualiscommitted
11.PunjabNationalBankThenameyoucanbankon
12.StatebankofIndiaWithyoualltheway
13.SyndicatebankYourfaithful&friendlyfinancialpartner
14.VijayaBankAfriendyoucanbankon
PostedbyVenkataRaghuramatSunday,August09,2015

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VISITORS LOCATION

BANKS IN INDIA AS ON April 2015


1)Thereareatotalof27PSBsinIndia[21NationaliZedbanks+6Statebankgroup(SBI+5
associates)]
2)Atpresentthereare22PrivateBanksfunctioninginIndia
3)Atpresentthereare56RRBs(RegionalRuralBanks)functioninginIndia.
4)Atpresentthereare41ForeignBanksfunctioninginIndia
PostedbyVenkataRaghuramatSunday,August09,2015

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Rur...
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Schemes/ Policy launched by Govt. of India


PradhanMantriKrishiSinchayeeYojana(PMKSY)AgricultureIrrigationScheme.
Keypoints:
Schemeaimsatprovidingirrigationfacilitiestoeveryvillageinthecountrybyconvergingongoing
irrigationschemesimplementedbyvariousministries.
Budgetaryallocation:1,000crorerupeesforfiscalyear201516.
FundingPattern:CentreStateswillbe75:25percent.Incaseofnortheasternregionandhilly
statesitwillbe90:10.
SukanyaSamriddhiYojana:Itisasmalldepositschemeforthegirlchild.
Keypointsofthescheme
Inonefamily,amaximumoftwoaccountscanbeopenedfortwogirlchildren.Theaccountcanbe
transferredanywhereinIndiafromonePostoffice/Banktoanother.
AgeLimit:Theupperagelimitofthegirlchildforopeningthisaccountis10years.Thegovt.has
givenarelaxationofoneyearintheupperagelimitforthoseopeningaccountstillDecember1,
2015.
Documentsrequired1.BirthCertificateofthegirlchild.2.Addressproof.3.Identityproof.
Minimum&Maximumdeposit:TheminimumdepositundertheschemeisRs.1000/.The
maximumdepositisRs.1.5lakhs.Thereisnolimitonthenumberofinvestmentsonecanmakein
anaccounteitherinamonthorinayear.
Interestrate:Thegovernmentwillannouncetheinterestrateoftheschemeeveryyear.However,
thegovernmentofIndiahasincreasedtherateofinterestfrom9.1%(201415)to9.2%(201516)for
thisfinancialyear.
Maturityperiod:Thematurityperiodoftheschemeis21yearsfromthedateofaccountopening,
thoughdepositsneedtobemadeonlyforthefirst14years.
TheminimumlockininperiodundertheSukanyaSamriddhiYojanais11years.
PradhanMantriKaushalVikasYojana(PMKVY):
Theschemeaimstoimpartskilltrainingtoyouthwithfocusonfirsttimeentrantstothelabour
marketandclass10andclass12dropouts.
TheschemewillbeimplementedbytheUnionMinistryofSkillDevelopmentandEntrepreneurship
throughtheNationalSkillDevelopmentCorporation(NSDC).I
Itwillcover24lakhpersonsandskilltrainingwouldbebasedontheNationalSkillQualification
Framework(NSQF)andindustryledstandards

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Bhagyashreescheme:
ItisgirlchildschemewaslaunchedinMaharashtra.BollywoodactressBhagyashreeisthebrand
ambassadorofthescheme.
Keypointsofthescheme:
Thestategovernmentwilldepositanamountof21200rupeesinbankforagirlchildbornina
BelowthePovertyLine(BPL)family.
Theschemeaimsatprovidingone1lakhrupeesonmaturityafterthegirlcompletes18yearsof
age.
TheschemewouldbelinkedtotheBetiBachaoBetiPadhaoschemeofUnionGovernment.
RashtriyaAvishkarAbhiyan(RAA):
FormerPresidentofIndiaDr.APJAbdulKalamlaunchedtheRashtriyaAvishkarAbhiyan(RAA)in
NewDelhi.Theabhiyanaimstoinculcateaspiritofinquiry,creativityandloveforScienceand
Mathematicsinschoolchildren.RashtriyaAvishkarAbhiyanisaconceptdevelopedbytheMinistry
ofHumanResourceDevelopment.RAAisanefforttotakeforwardthePrimeMinisterNarednra
ModisvisionofDigitalIndia,MakeinIndiaandTeachinIndia.

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AboutPradhanMantriJeevanJyotiBimaYojana:
ItisalowpremiuminsuranceschemewhichwilllinkwiththePradhanMantriJhanDhanYojna.
Keypointsofthescheme:
Eligibility:Minimum18yearsandmaximum50yearsandhavebankaccountareeligibleforthe
scheme.Iftheaccountisopenedbeforeattainingtheageof50years,thelifecoverwouldremain
intactuptotheageof55years,ifpremiumispaidregularly.

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COMPUTERKNOWLEDGE
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1.Whichofthefollowing
groupsconsistsofonly
outputdevices?(A)Scanner,
Printer,Monitor(B)
Keyboard,Printer,Monitor
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PremiumpayableforthisschemeisRs.330peryeari.e.lessthanRs.1perday.
RiskcoverageofRs.2Lakhincaseofdeathforanyreason.
Thepremiumpaidwillbetaxfreeundersection80Candalsotheproceedsamountwill
gettaxexemptionu/s10(10D).

AboutAtalPensionYojana(APY):
Itisaschememainlyforworkersinunorganisedsector.Theschemewillbeadministeredbythe
PensionFundRegulatoryandDevelopmentAuthority(PFRDA)andreplacetheprevious
government'sSwavalambanYojanaNPSLite.
Keypointsofthescheme:
ThesubscriberswhowilljoinedtheschemewouldreceivethefixedpensionofRs.
1000permonth,Rs.2000permonth,Rs.3000permonth,Rs.4000permonth,Rs.
5000permonth,attheageof60years,dependingontheircontributions.
Agelimit:minimum18yearsandmaximumageis40years.
Asubscribercancontributeforminimumperiodof20yearsormoreandpension
paymentwillstartattheageof60years.
ThegovernmentofIndiahasdecidedtococontribute50%ofthesubscriber's
contributionorRs.1000perannum,whicheverislower,toeacheligiblesubscriber
account,foraperiodof5years,i.e.,from201516to201920,whojointheNPSbefore
31stDecember,2015andwhoarenotincometaxpayers.

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PRACTICEQUESTIONS
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TheCentrewilloverthenext
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crorerupeesintothestate
ownedbanks?1)Rs.80,000
crore2)Rs.60,000crore3)
Rs.70,000c...
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PradhanMantriSurakshaBimaYojana:
Itisaninsuranceschemewhichcoversdeathordisablementofthepolicyholdercauseddueto
accidentoraccidentalinjuries.
Keypointsofthescheme:

Blog Archive
2015(12)
August(7)

Agelimit:Minimum18yrsandmaximum70years.

QuestionnaireonUnion
Budget201516

Theschemewillbeaoneyearcover,renewablefromyeartoyearandwouldbe
administeredthroughthePublicSectorGeneralInsuranceCompaniesincollaboration
withBanks.
Riskcoverage:ThePradhanMantriSurakshaBimaYojanawillofferanaccidental
deathandfulldisabilitycoverofRs.2LakhandforpartialdisabilitycoverofRs.1Lakh.

Headquartersof
NationalizedBanks

TAGLINESOF
DIFFERENTBANKS

Premium:Rs.12perannum.Thepremiumwillbedirectlyautodebitedbythebankfrom
thesubscribers'account.
PostedbyVenkataRaghuramatSunday,August09,2015

BANKSININDIAASON
April2015
Schemes/Policylaunched
byGovt.ofIndia

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ImportantCommittees

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FINANCIALTERMS
July(1)

Important Committees

May(1)
February(1)

1.DeepakMohantycommitteetoframeactionplanonfinancialinclusion.
2.APShahcommitteeAhighlevelcommitteeonthecontroversialissueofpaymentofMinimum
AlternateTax(MAT)byforeigninstitutionalinvestors.
3.BhupendraYadavcommitteetoheadpanelontheGoodsandServicesTax,GSTbill
4.SSAhluwaliacommitteeontheRighttoFairCompensationandTransparencyinLand
AcquisitionRehabilitationandResettlement(LARR)(Amendment)Bill,2015.
5.VijayKelkarcommittee:onRevisitingandRevitalizingthePublicPrivatePartnership(PPP)
ModelofInfrastructureDevelopment.
6.BNNavalawalacommittee:toheadtaskforceoninterlinkingofrivers.
7.AjayShankarcommittee:tosuggestsimplifiedcomplianceforestablishingnewindustries.
8.AKBhargavacommittee:tolookintotheissuesof"Netneutrality".
9.DhirendraSwarupcommitteetobeginthepreparatoryworkforFinancialRedressAgency
(FRA)thatwasrecommendedbytheFinancialSectorLegislativeReformsCommission(FSLRC).
PostedbyVenkataRaghuramatSunday,August09,2015

January(2)
2014(48)
2013(51)
2012(104)
2011(91)

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Sunday,2August2015

FINANCIAL TERMS
1)Typeofassets
Theassetsportfolioofthebanksisrequiredtobeclassifiedas

About Me

(1)standardassets(2)substandardassets(3)doubtfulassetsand(4)lossassets.Standard asset is
onethatdoesnotdiscloseanyproblemsandwhichdoesnotcarrymorethannormalriskattached
tothebusiness.AnassetwhichhasbeenclassifiedasNPAforaperiodnotexceeding12months
is considered as substandard asset.Doubtful asset is one which has remained NPA for a period
exceeding 12 months.An asset which is considered uncollectible and loss has been identified by
thebankorinternalorexternalauditorsortheRBIinspectionandthelosshasnotbeenwrittenoff
isregardedaslossasset.
2)CoreBankingSolutions(CBS)
Core Banking Solutions is a buzz word in Indian banking at present, where branches of the bank
are connected to a central host and the customers of connected branches can do banking at any
breachwithcorebankingfacility.

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3)PrimeLendingRate
The minimum shortterm interest rate charged by commercial banks to their most creditworthy
clients.Itisareferenceinterestrateusedbybanksforitslendingpurposes.
4)PartiesofaCheque:
Therearethreepartiestothecheque
1DrawerorMaker
2The bank (Drawee) on whom the cheque is drawn (i.e. the bank with whom the account is
maintainedbythedrawer)
3 Payee Payee is the person whose name is mentioned on the cheque to whom or to whose
orderthemoneyisdirectedtobepaid.
5)SpecialDrawingRights(SDRs)
It is a reserve asset (known as Paper Gold) created within the framework of the International
MonetaryFundinanattempttoincreaseinternationalliquidity,andnowformingapartofcountries
official forex reserves along with gold, reserve positions in the IMF and convertible foreign
currencies.
6)NegotiatedDealingSystem
The Negotiated Dealing System (NDS) for electronic dealing and reporting of transactions in
government securities was introduced in February 2002. It facilitates the members to submit
electronically,bidsorapplicationsforprimaryissuanceofGovernmentSecuritieswhenauctionsare
conducted. NDS also provides an interface to the Securities Settlement System (SSS) of the
Public Debt Office, RBI, Mumbai thereby facilitating settlement of transactions in Government
Securities(bothoutrightandrepos)conductedinthesecondarymarket.
7)NDSOM(OrderMatch)
In August, 2005, RBI introduced an anonymous screen based order matching module on NDS,
called NDSOM. This is an order driven electronic system, where the participants can trade
anonymouslybyplacingtheirordersonthesystemoracceptingtheordersalreadyplacedbyother
participants.NDSOMisoperatedbytheClearingCorporationofIndiaLtd.(CCIL)onbehalfofthe
RBI.
8)WhatisAssetManagementCompanies?

A company that invests its clients' pooled fund into securities that match its declared financial
objectives.Assetmanagementcompaniesprovideinvestorswithmorediversificationandinvesting
optionsthantheywouldhavebythemselves.Mutualfunds,hedgefundsandpensionplansareall
run by asset management companies. These companies earn income by charging service fees to
theirclients.
9) "Soiled Note:" means a note which, has become dirty due to usage and also includes a two
piece note pasted together wherein both the pieces presented belong to the same note, and form
theentirenote.
(ii)Mutilatedbanknoteisabanknote,ofwhichaportionismissingorwhichiscomposedofmore
thantwopieces.

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10) Imperfect banknote means any banknote, which is wholly or partially, obliterated, shrunk,
washed,alteredorindecipherablebutdoesnotincludeamutilatedbanknote.
PostedbyVenkataRaghuramatSunday,August02,2015

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BANKING AWARENESS PRACTICE QUESTIONS FOR ALL


EXAMS
1.ThemainfunctionofanAssetManagementCompanyisto:
a)holdthesecuritiesofvariousschemes
b)managethefundsbymakinginvestmentsinvarioustypesofsecurities
c)holditspropertyforthebenefitoftheunitholders
d)actonbehalfofSEBI
e)Alltheabove
2.WhatisthepurposeofreductioninCashReserveRatio(CRR)?
a)ReduceCreditFlow
b)EnhanceCreditFlow
c)Enhanceavailabilityofcash
d)ReduceCashtransactions
e)Noneoftheabove
3.InIndia,conventionally,bondsareissuedbyinstitutionsin____sectorwhiledebenturesby
corporate
in____sector.
a)private,public
b)public,private
c)eitheraorb
d)cooperative,NBFC
e)Noneoftheabove

RELATED LINKS
HeadOfficesofNationalisedBanks
Listofnonscheduledcooperative
banks
ListofPrimaryDealersin
GovernmentSecuritiesMarket
PrivateForeignBanks
PrivateIndianBanks
RegionalRuralBanks
SBIanditsAssociateBanks
ScheduledUrbanCooperative
StateCooperativeBanks
NonBankingFinancialCompanies

4.WhonotifiesForeignTradePolicy?
a)RBI
b)DGFT
c)Govt.ofIndia
d)ECGC
e)Noneoftheabove
5.Cashkeptinthecurrencychestisownedby?
a)CurrencyChestbranchbank
b)StateBankofIndia
c)CentralGovernment
d)ReserveBankofIndia
e)Noneoftheabove
6.ExpandthetermLIBORasusedinfinancialbankingsectors?
a)LocalIndianBankOfferedRate
b)LondonIndiaBureauofRegulations
c)LiberalInternationalBankOfficialRatio
d)LondonInterBankOfferedRate
e)Noneoftheabove
7.WhichoneofthefollowingratesisNOTdecidedbytheRBI?
a)BankRate
b)RepoRate
c)ReverseRepoRate
d)IncomeTaxRates
e)Onlya&b
8.Whenmorethanonebankisallowingcreditfacilitiestoonepartyincoordinationwitheachother
underaformalarrangement,thearrangementisgenerallyknownas:
a)Participation
b)Consortium
c)Syndication
d)MultipleBanking
e)Alltheabove
9.TheheadquartersofInternationalMonetaryFundis___
a)Geneva
b)Paris
c)London
d)Manila
e)Washington
10.ThefirstinsurancecompanywasstartedinIndiain1818at:
a)Kolkata
b)Chennai
c)Mumbai
d)NewDelhi

HelpDeskofReserveBankofIndia
WebsitesofBanksinIndia
NationalFederationofState
CooperativeBanksLtd.(NAFSCOB)
DraftVisionDocumentforUrbanCo
operativeBanks
IndianCoinageAct,1906
ForeignExchangeManagementAct,
1999

e)Allahabad
11.Whichoneofthefollowingisnota"MoneyMarketInstrument"?
a)TreasuryBills
b)CommercialPaper
c)EquityShares
d)CertificateofDeposit
e)Alltheabove
12.TheBankingCodesandStandardsBoardofIndiawasregisteredon18February,2006under
whichofthefollowingRBIAct?
a)BankingRegulationAct
b)TheSocietiesRegistrationAct,1860
c)CooperativeSocietiesAct
d)Noneoftheabove
e)Alltheabove
13.WhoisthechairmanofGoverningCouncilofBCSBI(BankingCodesandStandardsBoardof
India)?
a)K.C.Chakrabarty
b)A.C.Mahajan
c)HSKhurana
d)M.V.Nair
e)SalmanKhurshid
14.Paymentofchequesisgovernedbysectionsunder_____:
a)BankingRegulationAct1949
b)RBIAct1934
c)NegotiableInstrumentsAct1881
d)PreventionofMoneyLaunderingAct2002
e)Noneoftheabove
15.TheHeadquartersofBankofInternationalsettlementislocatedat:
a)NewYork
b)London
c)Washington
d)Paris
e)Basel(Switzerland)
16.TheActgoverningforexactivitiesinIndiais:
a)RBIact
b)FERA
c)FEMA
d)SEBI
e)FinanceMinistry
17.SriArunShrivastavahastakenoverchargeon15.05.2015asnewCMDof____bank.
a)UnionBankofIndia
b)UnitedBankofIndia

c)SyndicateBank
d)AndhraBank
e)AllahabadBank
18.RBIadvisedBanksthatallnewcardsissueddebitandcredit,domesticandInternationalshall
beEMV(EuropayMasterCardVisa)chipandpinbasedcardswitheffectfrom:
a)1stSeptember2015
b)1stOctober2015
c)1stNovember2015
d)1stAugust2015
e)15thAugust2015
19.Benefitsincorebankingsystemare:
a)Reliablecentralizeddatarecovery
b)Datawarehousinganddataminingtechnologies
c)Integratedcustomercentricservices
d)Coreinfrastructurecanbeusedforfutureexpansion
e)Alltheabove
20.NRIDepositsareclassifiedunder:
a)Capitala/c
b)Currenta/c
c)SpecialForeignDepositAccount
d)Eitherborc
e)NoneoftheAbove
21.WhichofthefollowingcanbecalledasintermediaryintheFinancialSystem?
a)Insurancecompanies
b)Bankingcompanies
c)Mutualfunds
d)Alltheabove
e)Noneoftheabove
22.WhichtypeofmachineisusedbyBusinessCorrespondents?
a)MicroATMs
b)POS
c)BiometricCardReader
d)Solarempowered
e)Waterresistant
23.TheceilingforrepatriationoffundsfromNRE/FCNRaccountsis:
a)Rs.2lakhs
b)Rs.5lakhs
c)Rs.10lakhs
d)Noceiling
e)Noneoftheabove
24.Somebanksarefinancingbigprojectslikeconstructionofroads,bridgesetc.Financing
suchprojectsmeansbanksarehelpingexactlyin:

a)InfrastructuralDevelopment
b)ProjectManagement
c)DevelopingcoresectorIndustry
d)FinancialInclusion
e)Alloftheabove
25.Debenturesaregovernedby____
a)LawofContract
b)BRAct
c)CompanyLaw
d)BankingRegulationAct
e)Noneoftheabove
26.ThematurityperiodofCDs(CertificateofDeposit)issuedbybanksshouldnotbelessthan
____andnotmorethan_____,fromthedateofissue.
a)7days,6months
b)7days,1year
c)15days,6months
d)15days,1year
e)90days,180days
27.TheMainactivityoftheFinancialIntelligenceUnitIndia(FIUIND)istocontrol:
a)TaxEvasion
b)MoneyLaundering
c)Terrorism
d)AvoidingNPAs
e)AvoidingfraudsinATMs
28.Infusionofliquidity,byRBI,isdonethrough_____from/tobanksundera_____transaction.
a)borrowing,repo
b)borrowing,reverserepo
c)lending,repo
d)lending,reverserepo
e)Noneoftheabove
29.Crossingachequeisadirectiontothe:
a)Drawer
b)Payee
c)PayingBanker
d)ClearingHouse
e)Collectingbanker
30.TheminimumamountforwhichaCD(CertificateofDeposit)canbeissuedis:
a)Rs.1lakh
b)Rs.2lakh
c)Rs.5lakh
d)Rs.10lakh
e)Rs.20lakh

31.Arateofexchangeestablishedbetweenanytwocurrenciesonthebasisoftherespective
quotation
ofeachcurrencyintermsofathirdcurrencyisknownas:
a)Crossrate
b)Merchantrate
c)Washrate
d)Compositerate
e)Noneoftheabove
32.CIBILasacreditbureaucatersto:
a)Consumersegments
b)Commercialsegments
c)Bothcommercialandconsumersegments
d)NationalizedBanksonly
e)PrivateBanksonly
33.KishoreBiyaniledFutureGroupagreedtomergeitsretailbusinessstockdealworthRs.750
croretocreateoneofthebiggestsupermarketchainswithRs.15,000croreturnoverwithwhichof
thefollowingorganizations?
a)VMartRetail
b)ShoppersStop
c)BhartiRetail
d)KoutonsRetailIndia
e)Noneoftheabove

ANSWERS
1)b2)b3)b4)b5)d6)d7)d8)b9)e10)a
11)c12)b13)b14)c15)e16)c17)c18)a19)e20)a
21)d22)c23)d24)a25)c26)b27)b28)c29)c30)a
31)a32)c33)c
PostedbyVenkataRaghuramatThursday,July09,2015

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Sunday,17May2015

Primary and Secondary Functions of Commercial Banks


Acommercialbankisatypeofbankthatprovidesservicessuchasacceptingdeposits,making
businessloans,andofferingbasicinvestmentproducts.Ondaytodayfunctioningitdischarge
manyfunctionsbroadlyclassifiedasPrimaryandSecondaryFunctionsmentionedbelow.
I.PrimaryFunctions
1)AcceptingDeposits
2)AdvancingLoans
II.SecondaryFunctions
1)OverdraftFacility
2)DiscountingBillsofExchange

3)AgencyFunctions
4)GeneralUtilityFunctions

PrimaryFunctions
1.AcceptingDeposits:
Itisoneofthemostimportantfunctionofcommercialbanks.Thecommercialbanksacceptthe
depositsatlowerratesandprovidetheloans.Theyacceptdepositsinseveralformsaccordingto
requirementsofdifferentsectionsofthesociety.
Themainkindsofdepositsare:
i)CurrentAccountDepositsorDemandDeposits:
Thesedepositsrefertothosedepositswhicharerepayablebythebanksondemand.
Suchdepositsaregenerallymaintainedbybusinessmenwiththeintentionofmaking
transactionswithsuchdeposits.Thebusinessmenusuallydepositfromtheirexcesscash
balancesandwithdrawwhentheyneed.
Theycanbedrawnuponbyachequewithoutanyrestriction.
Banksdonotpayanyinterestontheseaccounts.Rather,banksimposeservicechargesfor
runningtheseaccounts.
ii)FixedDepositsorTimeDeposits:
Fixeddepositsrefertothosedeposits,inwhichtheamountisdepositedwiththebankforafixed
periodoftime.
Suchdepositsdonotenjoychequeablefacility.
Thesedepositscarryahighrateofinterest.
iii)SavingDeposits:
Thesedepositscombinefeaturesofbothcurrentaccountdepositsandfixeddeposits.
Thedepositorsaregivenchequefacilitytowithdrawmoneyfromtheiraccount.But,some
restrictionsareimposedonnumberandamountofwithdrawals,inordertodiscouragefrequentuse
ofsavingdeposits.
Theycarryarateofinterestwhichislessthaninterestrateonfixeddeposits.Itmustbenoted
thatCurrentAccountdepositsandsavingdepositsarechequabledeposits,whereas,fixeddeposit
isanonchequabledeposit.
2.AdvancingofLoans:
Thedepositsreceivedbybanksarenotallowedtoremainidle.So,afterkeepingcertaincash
reserves,thebalanceisgiventoneedyborrowersandinterestischargedfromthem,whichisthe
mainsourceofincomeforthesebanks.
DifferenttypesofloansandadvancesmadebyCommercialbanksare:
i)CashCredit:TheCashcreditreferstoaloangiventotheborroweragainsthiscurrentassetslike
shares,stocks,bonds,etc.Acreditlimitissanctionedandtheamountiscreditedinhisaccount.
Theborrowermaywithdrawanyamountwithinhiscreditlimitandinterestischargedontheamount
actuallywithdrawn.
ii)DemandLoans:Demandloansrefertothoseloanswhichcanberecalledondemandbythebank
atanytime.Theentiresumofdemandloaniscreditedtotheaccountandinterestispayableonthe
entiresum.
iii)ShorttermLoans:Theyaregivenaspersonalloansagainstsomecollateralsecurity.Themoney
iscreditedtotheaccountofborrowerandtheborrowercanwithdrawmoneyfromhisaccountand
interestispayableontheentiresumofloangranted.

SecondaryFunctions
1.OverdraftFacility:

Itreferstoafacilityinwhichacustomerisallowedtooverdrawhiscurrentaccountuptoanagreed
limit.Thisfacilityisgenerallygiventorespectableandreliablecustomersforashortperiod.
Customershavetopayinteresttothebankontheamountoverdrawnbythem.
2.DiscountingBillsofExchange:
Itreferstoafacilityinwhichholderofabillofexchangecangetthebilldiscountedwithbank
before
thematurity.Afterdeductingthecommission,bankpaysthebalancetotheholder.Onmaturity,
bankgetsitspaymentfromthepartywhichhadacceptedthebill.
3.AgencyFunctions:
Commercialbanksalsoperformcertainagencyfunctionsfortheircustomers.Fortheseservices,
bankschargesomecommissionfromtheirclients.
Someoftheagencyfunctionsare:
i)TransferofFunds:
Banksprovidethefacilityofeconomicalandeasyremittanceoffundsfromplacetoplacewiththe
helpofinstrumentslikedemanddrafts,mailtransfers,etc.
ii)CollectionandPaymentofVariousBillPayments:
Commercialbankscollectcheques,bills,interest,dividends,subscriptions,rentsandother
periodicalreceiptsonbehalfoftheircustomersandalsomakepaymentsoftaxes,insurance
premium,etc.onstandinginstructionsoftheirclients.
iii)PurchaseandSaleofForeignExchange:
Somecommercialbanksareauthorizedbythecentralbanktodealinforeignexchange.Theybuy
andsellforeignexchangeonbehalfoftheircustomersandhelpinpromotinginternationaltrade.
iv)PurchaseandSaleofSecurities:
Commercialbanksbuyandsellstocksandsharesofprivatecompaniesaswellasgovernment
securitiesonbehalfoftheircustomers.
v)IncomeTaxConsultancy:
Theyalsogiveadvicetotheircustomersonmattersrelatingtoincometaxandevenpreparetheir
income
taxreturns.
vi)TrusteeandExecutor:
Commercialbankspreservethewillsoftheircustomersastrusteesandexecutethemaftertheir
deathasexecutors.
4.GeneralUtilityFunctions:
Commercialbanksrendersomegeneralutilityserviceslike:
i)LockerFacility:
Commercialbanksprovidefacilityofsafetyvaultsorlockerstokeepvaluablearticlesofcustomers
insafecustody.
ii)Traveller'sCheques:
Commercialbanksissuetraveler'schequestotheircustomerstoavoidriskoftakingcashduring
theirjourney.
iii)LetterofCredit:
Commercialbanksissuelettersofcredittotheircustomerstocertifytheircreditworthiness.
iv)UnderwritingSecurities:
Commercialbanksalsoundertakethetaskofunderwritingsecurities.Aspublichasfullfaithinthe
creditworthinessofbanks,publicdonothesitateinbuyingthesecuritiesunderwrittenbybanks.
v)CollectionofStatistics:
Bankscollectandpublishstatisticsrelatingtotrade,commerceandindustry.Hence,theyadvice
customersonfinancialmatters.Commercialbanksreceivedepositsfromthepublicandusethese
depositstogiveloans.However,loansofferedaremanytimesmorethanthedepositsreceivedby

banks.Thisfunctionofbanksisknownas'MoneyCreation'.
PostedbyVenkataRaghuramatSunday,May17,2015

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Sunday,15February2015

Banking Terms
BankingBook
The banking book comprises assets and liabilities, which are contracted basically on
account of relationship or for steady income and statutory obligations and are generally
heldtillmaturity.
Thesesecuritiesareaccountedforinadifferentwaythanthoseinthetradingbook,which
aretradedonthemarketandvaluedbytheperformanceofthemarket.
Inotherwords,anaccountingbookthatincludesallsecuritiesthatarenotactivelytraded
bytheinstitution,thataremeanttobehelduntiltheymature.

BankRate
TheBankRate(BR)hasbeendefinedinSee49ofRBIAct1934asthe'standardrateat
which RBI is prepared to buy or rediscount bills of exchange or other commercial papers
eligible for purchase under this act'. The RBI uses its lending power to banks (a) to
influencetheircreditallocationand(b)todevelopagenuinebillmarketinIndia.
Also,itiscalledanofficialinterestrateatwhichthecentralbankrediscountstheapproved
billsheldbyacommercialbank.Ifthecentralbankwishestocontrolcreditandinflation,it
willincreasethebankrate.

CBS
CBSstandsforCoreBankingSolutions.
Coreorcentralizedbankingsolutionisaheartofbankingsystem
Thisisaprocessbywhichabankhasinterconnecttheirmaximumbranchesthrough
wide area network and only this system provide a facility of any branch or any time
banking.

ICOR
ICORstandsforIncrementalCapitalOutputRatio.
ICOR is the Ratio of investment to growth which equals to one, divided by the marginal
productofCapital.ThehighertheICORindicateslowertheproductivityofcapitalandlower
theICORreflectshighproductivityofCapital.ICORisthetopicorinstrumentbywhichthe
Economicgrowthrateofcompanydecided.
ICORiscalculatedas:
ICOR=
AnnualInvestment/AnnualIncreaseinGDP

GlobalDepositoryReceipt(GDR)
GlobalDepositoryReceiptisabankcertificateissuedinmorethanonecountryforshares
inaforeigncompany.ThesesharesareheldbyaforeignbranchofanInternationalbank.
These shares are trades as domestic shares but are offered for sale globally through the
variousbankbranches.AGDRisaverysimilartoanAmericanDepositoryReceipt.

AutomaticStabilizer
Automatic Stabilizer is program that enhances and diminishes automatically for equalizing
currenteconomictrendswithoutassistanceofgovernment.Thebestexampleforautomatic
stabilizerisunemploymentinsuranceasitautomaticallyreplacesthelostincomeforpeople
whohavelosttheirjobs.
Also, Automatic Stabilizers are features of the tax and transfer systems that tend by their
designtooffsetfluctuationsineconomicactivitywithoutdirectinterventionbypolicymakers.

SelectiveCreditControl
Selective Credit Control (SCC) refers to the directives issued by RBI u/s 21 of Banking
Regulation Act 1949 to regulate flow of bank credit against security of sensitive/selected
commodities.Withaviewtopreventspeculativeholdingofessentialcommoditieswiththe
help of bank credit, RBI issues from time to time, directive covering the margin
requirementsandthelevelandquantumofaccommodationthatcouldbegrantedagainst
theSCCitems.
Selectivecontrolsaredesignedtochecktheconductoflendersonly,theyalsoinfluencethe
attitudeoftheborrowers,byprescribingthetermsonwhichcertainkindsofloansmaybe

made.
PostedbyVenkataRaghuramatSunday,February15,2015

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