Saturday, 11 February 2017

BANKING ONE LINERS 11/02/2017






BANKING ONE LINERS


Exchange of cash flow in different currency is known as: Ans: Currency Swap

Expand ASBA:Ans: Application Supported by Blocked Amount

Fastest mode of transaction: Ans: RTGS

First Indian Bank to introduce credit card: Ans: Central Bank of India

Fixed Deposit (FD)Account may be opened for a minimum period of: Ans: 7 days

Fixed deposits and recurring deposits are: Ans: repayable after an agreed period

Forward Market Commission merge with: Ans: SEBI

Full form IFSC – Ans: Indian Financial System Code

Full form of CASA –Ans: Current Account Saving Account

Full form of CVV: Ans: Card Verification Value

Full form of EFT: Ans: Electronic Fund Transfer

Full form of REIT:Ans: Real State Investment Trust

How much amount of money can RBI lend to a bank? Ans: 2% of NDTL

How much amount RBI allows in 'Tap and pay'transactions without PIN? Ans: Rs. 2000

How much fee charged to file a complaint under Banking Ombudsman? Ans: Banking Ombudsman does not charge any fee

How much overdraft facility to be provided in 'Pradhan Mantri Jan Dhan Yojana' scheme? Ans: Rs. 5,000

If a cheque is postdated, the bank on which it is drawn: Ans: will not honour the cheque before the date of the cheque

If any customer is not satisfied by the decision of Banking Ombudsman, customer can appeal against the award before the appellate authority within how many days from the date of receipt? Ans 30 days

If RBI reduces CRR, what happens: Ans: Credit Supply increases, loans get cheaper.
222 IFRS full form:Ans: International Financial Reporting Standards

IFSC code consists of _____ alpha numeric code. Ans: 11 digits (The IFSC is an 11 digit alpha numeric code, with the first four digits identifying the bank, fifth is numeric(kept 0) and the last six digits represent the bank branch.)

IMPS - Immediate Payment Service is an interbank electronic instant mobile money transfer service through mobile phones in India, the facility is provided by: Ans: NPCI (National Payment Corporation of India)

In a bank, which of the following are the usual types of accounts? Ans: Current 
accounts, Savings bank accounts and Term deposit accounts

In banking business, when the borrowers avail a term Loan, initially they are given a repayment holiday and this is referred as: Ans: Moratorium

In BSBDA (Basic Savings Bank Deposit Account) the balance at any point of time does not exceed rupees: Ans: Rs. 50,000

In BSBDA (Basic Savings Bank Deposit Account) the credits in a financial year does not exceed rupees: Ans: Rs. 1 lakh

In BSBDA (Basic Savings Bank Deposit Account) the withdrawals and transfers in a month does not exceed rupees: Ans: Rs. 10,000

In CBS, C stands for: Ans: Core

In CRAR, A stands for: Ans: Assets (Capital to Risk Weighted Assets Ratio)

In India, one- rupee coins are issued by: Ans: Govt. of India

In what denominations Commercial Paper (CP) can be issued? Ans: Rs. 5 lakh

In which of the following fund transfer mechanisms,can funds be moved from one bank to another and where the transaction is settled instantly without being bunched with any other transaction?Ans: RTGS

Increased interest rates, as is existing in the economy at present will: Ans: mean higher cost of raw materials

PIN is a number allocated to an individual and used to validate electronic transactions. 
●Expand PIN:Ans: Personal Identification Number

Pradhan Mantri Jan Dhan Yojana' is a Scheme for: Ans: Financial inclusion

Prime Lending Rate is replaced by: Ans: Base rate

Purpose of starting Minor account for 10 years children: Ans: Financial inclusion

RBI established on: Ans: April1, 1935

RBI extended the timeline for full implementation of Basel III norms till: Ans: 31 March 2019

RBI gave in-principle for Banking license to: Ans: IDFC and Bandhan

RBI lifted a ban on carrying Indian bank notes of Rs1,000 and Rs. 500 denominations to and from:Ans: Nepal and Bhutan

RBI measure to liquidate the market: Ans: Repo rate.

RBI nationalized in: Ans: January 1, 1949

RBI policy related to money laundering? Ans: Know Your Customer

Regulator of Capital Market in India:Ans: SEBI

Regulator of Micro, Small and Medium enterprises in India: Ans: SIDBI (Small 
Industries Development Bank of India)

RuPay Card is an Indian version of credit/debit card is launched by which organization: Ans: NPCI (National Payments Corporation of India)

Short term Money lending process is known as: Ans: Call Money

SLR ((Statutory Liquidity Ratio)is the amount a commercial banks needs to maintain in the form of _______before providing credit to its customers. Ans: cash, or gold, or govt. approved securities (Bonds)

Special Drawing Right (SDR) is a monetary unit of: Ans: IMF

Teaser rates are related to which type of loans: Ans: Home loans

The Banks has converted all ‘no - frills' accounts’ into: Ans: Basic Savings Bank 
Deposit Accounts

The Central Bank of India has adopted new measure of inflation: Ans: Consumer Price Index (CPI)

The holidays for the banks are declared as per: Ans: Negotiable Instruments Act

The maximum deposit amount insured by DICGC? Ans: Rs. 1 lakh per depositors across all banks

The most powerful tool used by the Reserve Bank of India to control inflation is to: Ans: raise interest rates

The MUtual funds in India follow accounting standards laid by: Ans: SEBI (Securities and Exchange Board of India)

Know Your Customer (KYC) guidelines are issued under: Ans: Section 35A of the Banking Regulation Act, 1949

Loans of very small amounts given to low income groups is called: Ans: Micro Credit

MICR code consists of how many digits?Ans: 9 digits.(First three digits denotes city, next three digits representing the bank and the last three digits representing the bank branch)
 
Minimum & Maximum Limit of NEFT: Ans: no limit

Minimum amount for Certificate of Deposit has been fixed at: Ans: Rs. 1 Lakh

Minimum capital requirement for Foreign banks that want to set up operations in India is: Ans: Rs. 500 crore
 
Minimum capital requirement for new banks in private sector is: Ans: Rs. 500 crore

Minimum capital requirement for Non-Banking Financial Company (NBFC) is: Ans: Rs. 500 crore

Minimum limit for medium scale enterprises is Rs. 5Cr. what is maximum limit? Ans: 10 Cr.

Mobile banking fund transfer limit in a day: Ans: Rs. 50,000

Mutual funds regulated by: Ans: SEBI (Securities and Exchange Board of India)

Name the scheme to include every people under banking system: Ans:

Financial Inclusion

NEFT and RTGS in banking terminology speak of: Ans: electronic fund transfer from bank to bank
● Pension scheme for unorganized sector:Ans: Swavalamban

The NBFCs are allowed to accept/renew public deposits for a minimum period of:Ans: 12 months ( and maximum period of 60 months)

The objective of KYC guidelines is to prevent banks from being used, intentionally or unintentionally, by criminal elements for money laundering or terrorist financing activities. What is the full form of KYC? Ans: Know Your Customer (KYC)

The ownership of public sector banks rests: Ans: jointly with the Government of I and the shareholders from the public

The RBI policy rate which is purely an indicative rate used by RBI to signal long – term outlook on interest rates is: Ans: Bank rate
●The seed capital of Bhartiya Mahila Bank is: Ans: Rs.1000 crore
● The sole authority to issue and manage currency in India: Ans: RBI
●The term ‘pre – shipment’ finance relates to: Ans: export credit
● The term “Smart Money” refers to: Ans: Credits Card
●Treasury bill tenure:Ans: 91 days, 182 days, 364 days

Treasury Bills and Certificate of Deposit are considered as the ____instruments.Ans: negotiable money market
●Treasury bills are available for a minimum amount of:Ans: Rs. 25,000

Under which service, customers may access their bank account and perform basic transactions from any of the member branch offices. Ans: Core Banking Solution (CBS)
● What does CAR stands for? Ans: Capital Adequacy Ratio

What is ‘Demat Accounts’? Ans: Accounts in which shares of various companies are traded in electronic form

What is Bancassurance? Ans: The selling of life assurance and other insurance products and services by banking institutions.
● What is full form of CTS? Ans: Cheque Truncation System

What is Repo rate? Ans: It is the rate is the rate at which RBI lends money to the commercial banks.

What is Stale Cheque? Ans: A cheque which is presented to a bank after 3 months from date of issue is considered as stale cheque and will often not be honored for cash or deposit at a bank.

What is Teaser loan? Ans: If a bank offers a slightly lower rate in the initial years and higher rate in later years, it is called a teaser loan.
●What is the full form of MTSS? Ans: Money Transfer Service scheme

What is the loan limit for education under priority sector for studies abroad? Ans: Rs. 20 lakh (Loans to individuals for educational purposes including vocational courses upto Rs.10 lakh for studies in India and Rs. 20 lakh for studies abroad are included under priority sector.)

What is the maximum amount per transaction NEFT limit for cash-based remittances to Nepal? Ans: Rs. 50,000
●What is the minimum amount required to open a Fixed Deposit (FD)? Ans: Rs.1000
● What is the minimum denomination of Treasury bills to issue in India? Ans: Rs. 25000

What is the minimum paid-up capital requirement of both small banks and payments banks in India? Ans: Rs. 100 crore

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