Banking Bits 007

8/13/2019 Banking Bits 007

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K.SATISH KUMAR MCA, LLB & IAS ASPIRANTG.K. FACULTY OF T.I.M.E.VIZAG 530026Mail: [email protected]/facebook.comPh: 8686299233

Banking Bits 2013-14

1stbank to open a branch in Dharavi of Mumbai (One of Asias biggest slums) is Indian

Bank

1stIndian bank to be listed on New York stock exchange / NYSE is ICICI bank

1stbank to provide internet banking service in India was ICICI bank

1stIndian bank to open a branch outside India was Bank of India

The bank with maximum number of foreign branches is Bank of India

Indias 1stbank to provide credit card services is Andhra Bank Indias 1

stpublic sector bank to obtain license from RBI to start internet banking is

Punjab National Bank

Indias 1stindigenous 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 1stcountry in the world

Australia introduced Plastic currency in the world

South Africa has become only 2ndcountry 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 Bankof 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


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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 LaureateMohammed 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


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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 witheffect from 1

stApril, 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

NOTE:

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.

1stcentral 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 150thbirth anniversary of GURUDEV

RABINDRANATH TAGORE & INCOME TAX dept. in 2011.

RBI issued 1000rs coin to commemorate 1000thanniversary of BRIHADEESWARA

TEMPLE in 2011.

Banning of notes above 100 dolor in 1969 by USA president-NIXON.


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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 againstDomestic 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 CRRRequirements 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

CustomsBonded 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 TreasuryBills Due to Price Clash

New Generation private Banks --ICICI,HDFC & Axis bank & PSU BanksSBI,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 / ExchangeTraded 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 ofECBs 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


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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 IncludingPrimary 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 & Restrictingthem 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 1stApril, 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


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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 asPriority 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.


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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 100Croreson 15

th

February 2012as Atpresent 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-ofDay Balances in A/c by the

individual banks .But Up to 1LakhUniform 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


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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 CompaniesSriNidhi security Printing press , Madras security Printing press &Manipal Group to Print 1

stever 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 Governorm.

RamaKrishnayya was Passed away on 22-07-2013

Bank of England Chosen Jane Austen as New face of 10 sterling Pound Notes only 2nd

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 State-

owned 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


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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 1stIDF / 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 1st

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


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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 inChennai 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 1stset of Rupay cards in India on 26thmarch,2012 are

SBI, BOB , BOI & UBI

Rupee Payments to Iran : are Exempted from Taxation & Agreed that Indian Importersof Iranian Crude Oil can make 45% of Payments in Rupees which Iran will park with

KolkataBased 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 asICICI ,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 ofDeposits 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


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Bank of India Opened branch in Johannes Berg, South Africa

From 01stApril 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 100thbirth anniversary.

RBI Issued 150/- of coin to commemorate 150thbirth 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 (20122017) 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 21-11-

2012

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 iscategorised into 2 baskets. 1

stbasket 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)


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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


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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


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NBFC Infrastructure Finance Companies / IFCs are Permitted to avail of ECBs for On-

Lending 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 theirallowed 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 economicsRBI 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 EMIschemes 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. 10banks 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


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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 cardbusiness 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

TierI 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 15,000thbranch of SBI (Indias largest banking

networking)at Sooranam village in Shiva Ganga of Tamil Nadu on 17th

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


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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-to-

maturity 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 3rdlargest 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


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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 6thSeptember, 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


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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 non-

residents consequent to purchase might be paid through inward remittances usingnormal 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 categoryI (government and sovereign

entities), medium risk categoryII (well regulated entities like mutual funds, insurers,

investment trusts, banks, university funds and pension funds), categoryIII (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 isto 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) AsiaIndex 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


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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 ontheir 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 1stSEBI-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


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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 TotalInvestment 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 G-

secs / Govt debt Securities for FIIs


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Seeds are given by RBI forControlling Hoarding& Controlling speculation

18. PMLA 2002 is for...b) Arresting money laundering19. 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 aState owned institution194922. RBI head quarter's is there in?Mumbai23. How many regional offices doRBI has?2925. Which of the following is not

included in the foreign-exchangereserves of India?a) Foreign-currency assets heldby the RBIb) Gold holding of the RBIc) Silver holding of the RBId) Personal Deposit AccountsKey1. Which of the following is known as PlasticMoney?Credit Card&Debit Card2.

KYC guidelines followed by banks havebeen framed on the recommendations ofthe ...........5) Reserve Bank of India3. Business Correspondents in banking are for:4) Serving the weaker sections of society5. CMD of a public sector bank is appointed by:3) Central Government8. Micro finance development equity fund ismanaged by:NABARD11. When banks borrow fund for overnight, it iscalled:Call Money

13. Electronic Cheque means :4) Cheque signed digitally14. What is the minimum amount for NEFTtransaction?


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4) There is No minimum limit16. Which of the following committees hasgiven its recommendations on 'FinancialInclusion'2) Rangarajan Committee

17. Rise in Stock Market is usuallyreferred to as:Bull18. The term 'insider trading' is associated with:Stock Markets19. Which of the following is implemented inIndia in all the districts of the country forproviding employment?3) Mahatma Gandhi National RuralEmployment Guarantee Act20. Which of the following is the purpose of

introducing 'Know Your Customer' and AMLnorms by the banks?3) To Identify the customer and identifyingthe source of funds deposited in banks21. Which of the following organisationshas been established mainly to promotemicro, small and medium industrialsector in India?SIDBI22. Which of the following is not one of themajor functions of the National Bank for

Agricultural and Rural Development(NABARD)?1) Acting as regulator for cooperativebanks and RRBs2) Extending assistance to the governmentand others in matters related torural development3) Providing refinance to lending institutionsin rural areas.4) Acting as a coordinator in the operationsof rural creditinstitutions5) Review ofmonetary andcredit policy23. Banks in India arerequired to maintaina portion oftheir demand and


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time liabilities with the Reserve Bank ofIndia. This portion is called:Cash Reserve Ratio24. Which of the following organisations /agencies has specifically been set up to

boost overall rural development in India?NABARD25. Banks in India are regulatedunder:

Banking Regulation Act, 194926. A savings bank account opened with acommercial bank with zero or very minimalbalance is known as:3) No Frill Account27. Banks in their daily business face various

kinds of risks. Which of the following is onesuch major risk?5) Operational Risk28. Which of the following schemes waslaunched by the RBI in 2004, under whichGovt of India stated that Securities/Treasury Bills could be issued to absorbsurplus/ durable liquidity?Market Stabilisation Scheme29. 'Base Rate' in banks is:The minimum interest rate fixed by individualbanks below which they cannotlend funds, except cases like government-sponsored schemes.30. Banking sector falls under .........Service Sector32. Which of the following is a payment andsettlement system used by the banks inIndia?Real Time Gross Settlement

-U--Rc 29 -AeOd-R2012 N-O-uoAj-u.R--u1

1. Which Bank is called Apex Bank?Reserve Bank of India2. First Indian appointed as the Governor ofReserve bank of India ......Sir C. D. Deshmukh3. Which among the following banks has moreATMs?State Bank of India


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4. ICICI Bank made an agreement with ECObank to extend the banking regulations on15th October 2012. ECO bank original baseis in...Africa

5. Vostro Account means .....An account maintained by foreign bank inIndia in Indian RupeesGarnishee , Lien&Crossing ?9. The Base Year of Consumer Price IndexNumbers for Industrial Workers (CPI-IW) is...200111. Which bank is not in Private Sector?1) Axis Bank 2) ICICI Bank3) Repco Bank4) HDFC Bank5) South Indian Bank Ltd

12. FERA 1993 passed to control the foreignexchange dealings. FERA means...1) Foreign Exchange Regulation Act1) Bhide Committee-Commercial banks and StateFinancial Corporations2) Bhuchar Committee-Term lending institutesand commercial banks3) K B Chore Committee-Cash credit4) Cook Committee-Capital AdequacyRatio of Banks14.

Which among the following is not theNegotiable instrument?1) Cheque 2) Demand Draft3) Cash Deposit form4) Bill of Exchange5) Promissory Note15. Gilt-edged securities mean ........High-graded and low risk securities21. Expand IFRS?International Financial ReportingStandards22. Who is 'Drawer' in the Bank cheques?Who issue the cheques23. Who is 'Drawee' in the BankCheques?Always the banker24. Who is 'payee' in the Bank Cheques?Who encash the cheques25. Drawer can be payee in the BankCheques .....?


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Yes26. The money avail at high rate of interest iscalled .....Dear money31. Bill of Exchange means ....

Unconditional order issued by a personor business which directs the recipient topay a fixed sum of money to a third partyat a future date32. Who gives the Order to pay OR maker ofthe Bill of exchange is called ......Drawer33. In the Bill of Exchange, on whom the obligationto pay rests is called ......Drawee

34. In the Bill of Exchange, to whom the bill ispayable, he is called ....Payee1. Which among the following statements iscorrect?1) RBI is a Banker to the Government ofIndia2) RBI frames and administers the MonetaryPolicy of India4) RBI deals with the borrowing programs ofGovernment of India2.

On 6 September 2012, World Bankapproved $ 106 million loan to India toimprove ..........the nutritional outcomes for children lessthan six years of age, with a particularfocus on 0 - 3 year old children3. Which bank launched a mobile wallet'Mobicash' in partnership with OxigenServices (India)?State Bank of India

4. Andhra Bank's head office is at Hyderabad.Pick the correct statement relating to AndhraBank.a) Andhra Bank was founded by theeminent freedom fighter, Dr. BhogarajuPattabhiSitaramayyab) The Bank commenced business on 28thNovember 1923 with an authorised


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capital of Rs. 10.00 Lakhsc) Andhra Bank's new mascot is Dolphinnamed as DOLLe.d) Friendly, Intelligent, Responsive are themascot slogans of this bank

5. From Jan 2010, with which bank, Bank ofBaroda and Legal & General (UK)commenced a Life Insurance Joint Ventureby name M/s India First Life Insurance CoLtd?Andhra Bank11. What is meant by Public Sector Bank?Government of India or RBI or both havethe least 51 % shares in the bank15. Which commission distributes the taxes

between centre and states?Finance Commission23. The College of Agricultural Banking at ......rains staff of co-operative and commercialbanks, including regional rural banks. Thiscollege runs by Reserve Bank of India.Pune24. Reserve Bank of India is funding toencourage advance training and researchon banking issues, economic Growth. It isfunding National Institute of Bank

Management (NIBM) at ...........Pune25. Where is the Indira Gandhi Institute ofDevelopment Research (IGIDR)? ThisResearch institute funding by ReserveBank of India.Mumbai-!-ERc 10 --c-R2012 N-O-uoAj-u.R--u1

1. An Institution whose principle business isaccepting deposits and forwards the Loansis called .............

Bank2. The chief activities of bank do not include -1) Providing loans 2) Accepting deposits3) Providing lockers4) Issuing Negotiable instruments5) Selling Real Estate properties3. Chief functions of banks do not include .......1) Accepting Cheque in the form of deposit


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2) Allowing the transfer of funds3) Doing agriculture activity4) Providing foreign exchange 5) None5. Payment and Settlement Systems Actpassed in ..............

20076. The MICR cheque details given.1) MICR means Magnetic Ink Character2) MICR introduced to increase thestandards of the cheques3) MICR issued by bank4) In the MICR portion, the customer notallowed to write anything7. The MICR cheque details given.1) In the MICR cheques, MICR bears 9 digits2) First 3 digits represent city name/ district

name etc.3) Next 3 digits represent bank name4) Last 3 digits represent branch code9. SFMS means ..............Structured Financial Messaging Solution10. INRFS means ..............Indo-Nepal Remittance Facility Scheme11. NEFT means ..............National Electronic Fund Transfer12. Which electronic fund transfer system runon the basis of 'Deferred Net Settlement'?NEFT13. RTGS means ...............14. Minimum amount to be remitted throughRTGS is ...............Rs. 2 Lakh&The upper limit in the transactions of RTGSisThere is no upper limit

16. Beneficiary bank has to credit the beneficiary'saccount within .......... hours ofreceiving the funds transfer message asper the order of RBI.Two

17. In the both cases of RTGS and NEFT, theservice charges are decided by ........

Banker18. In Online transactions, IFSC code given.1) IFSC is an alphanumeric code that


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uniquely identifies a bank-branch participatingin the NEFT system and RTGSsystem2) IFSC means Indian Financial SystemCode

3) It will have 11 digits4) First 4 digits does not tell the location of bankhead-office5) Fifth digit is always zero and the last 6digits tell aboutthe branchcode19. On 26th September2012, World Bankopened ClimateInnovation Centre in -

Kenya21. 'e - Choupal' is the Rural marketing networkinitiative of .............ITC29. New issue of shares is made in ............Primary Market30. An important source of capital formation inIndia has been .............Household savings

Banking History1. As per the modern definition of the bank,

which is the first bank established in India in1786?The General Bank of India2. One of the earliest banks in India, Bank ofHindustan was established in .....17903. Few Indian Merchants established UnionBank in 1839 (not Union Bank of India) at....Calcutta

4. One of the oldest joint stock banks, Bank ofUpper India in 1863, merged with ....Alliance Bank of Shimla5. First entirely Indian joint stock bank OudhCommercial Bank was established in 1881at...Faizabad (Uttar Pradesh)6. The first phase of Indian banking runsbetween 1786 to 1969. The highlights of this


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period include .......1) Establishment of banks in India2) Report of Hilton-Young Commission3) Establishment of Reserve Bank of India4) Establishment of State Bank of India

7. The second phase of Indian banking runsbetween 1969 to 1991. The highlights of thisperiod include...1) Nationalization of banks2) Insurance of bank deposits3) Setting up of Regional Rural Banks4) Establishment of NABARD8. Third phase of Indian Banking runs between1991 till today. The highlights of this periodinclude ...1) Introduction of banking reforms

2) Infusion of Information Technology3) More entry of Foreign banks4) Customer Banking9. Economic and Banking pundits divide thefunctions of RBI into three categories. Theyare ....Traditional, Promotional and Supervisory10. ......functions of Reserve Bank of Indiainclude Banker to the government, issuingof currency notes, control the foreignexchange, and fight against

the economic crisis.Traditional11. New innovations in the banking business,promoting loans to poorer and small sectionsof society, engaging other agencies tofloat credit like NABARD etc. are to betermed as the ...... functions of RBI.Promotional12. Licensing, controlling other institutionswhich do the part banking, and review ofbanks performance are the ......functions ofRBI.Supervisory13. On 8th November 2012, which bank andVodafone declared they offer 'm-pesa', amobile - money transfer and paymentservice?ICICI14. On 2nd November 2012, which bank


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declared to set up 24-hour multi-functionself service counters at its 500 branchesby March 2013?Punjab National Bank

2. Statutory Liquidity Ratio ....is the proportion of demand and timedeposits that banks have to keep investedin unencumbered, approved governmentsecurities, gold or cash.4. If Statutory Liquidity Ratio increases, theavailability of bank loans ..decrease5. To control inflation, Statutory Liquidity Ratioto be ...increased

10. If Cash Reserve Ratio reduces, then availabilityof bank loans .......increase11. On Cash Reserve Ratio funds, the banks....do not get rate of interest12. RBI set up the panel to review the structuralconstraints in the rural credit deliverysystem. It is headed by ....Prakash Bakshi24. Global Competitiveness Report(GCR) is a yearly report published

by the ....World Economic Forum28. On 1st October 2012, the Finance MinisterChidambaram unveiled 12-point revivalpackage for the ....Insurance Sector1. What is meant by Repo Rate?At what rate of interest banks barrow thefunds from Reserve Bank of India forshort term.3. If the Repo Rate increases by Reserve Bankof India, rate of interest of the loans offeredby the banks..Increase4. To control Inflation.RBI increases the Repo Rate5. Reverse Repo Rate meansthe rate at which Reserve Bank of India(RBI) borrows money from banks.


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NOTE: 20Directors of the Central Board of theReserve Bank of India?One of the main attractive points of thisbank is Pigmy Deposit Scheme, whichaccepts as low as Rs. 5 at the door steps

of depositors through its agents.10. SBI SMILE provides interest-free seedcapital to.Small and medium enterprises11. Committees relating to banking given. Pick1) Janakiraman Committee - Securitiestransactions of banks2) Kalia Committee - Banks and NGO,SHG loans4) Khanna Committee - Supervisory frameworkfor Non-banking Financial

Companies5) Kusro Committee - Agriculture Credit13. On 19th November 2012, RBI ordered thebanks not to give loans to buy Gold16. Which card provides the instant and needyloan to farmers in India.?Kisan credit card

27. Disposable Income means..The amount of current income availableto households after the payment oftaxes, insurance and pensions1. is not a feature of Demand Deposits?1) Multiple deposits allowed2) Multiple withdrawals allowed3) Withdrawals permitted through ATM4) Withdrawals not permitted through ATM2. At the time of opening of Savings Account,the Account Holder can write Nomineename. If Nominee dies first ..the account holder can write anothernominee name3. Praveen has an account in Union Bank ofIndia. He issued a cheque of Rs.10000 toRavi Kumar. Who is drawee in the abovecase?Union Bank of India4. A has an account in State Bank of India. Heissued a crossed cheque to B. Then B


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should deposit cheque in his bankaccount5. Dr. Santosh deposited Rs.10000 in his savingsaccount and got counterfoil. In his passbook the deposit entry made and his present

balance is Rs.15,000. Later he got mobilealert that he deposited Rs.1000 only.ThenHe need not worry because mobile alertsneed not resemble the accurate balancein account. His balance stands atRs.15,000.6. A received PIN (personal identification number)for his debit card by post. Then ..he should not share this number withanybody

7. Vijay deposited Rs.5000 in Andhra Bank andgot Demand Draft. He wants to cancel theDemand Draft. ThenDemand Draft can be cancelled byAndhra Bank. However the cancellationcharges may be there.8. World Bank is a vital source of financial andtechnical assistance toDeveloping countries11. How many member nations have the membershipin IBRD?188

On 18th April, 2012 which country took

membership in IBRD, becoming the latestmember in IBRD?South Sudan13. Who became the president of World BankGroup on 1st July 2012? He is the 12thPresident of the Group.Jim Yong Kim15. World Bank has agreed to grant Rs 800crore for the second phase of the watersheddevelopment programme calledGramya in the state ofUttarakhand16. approved a $ 60-million creditto the Karnataka Watershed DevelopmentProject II (KWDP II) to improve watershedplanning and management in project areason 7th September 2012?World Bank


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17. Central Government, KarnatakaGovernment and the World Bank havesigned a $70 million additional credit agreementfor the ongoing ..Karnataka Health System Development

and Reform Project

35. Which committee recommendationsbrought Universal Banking in India?R.H.Khan Committee36. Which Committee suggested establishingthe 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 signature3. Government of India withdrawn coins ofdenomination of 25 paise and below from circulationwith effect from.....?30 June 20115. To whom the world bank granted a concessionalloan of $100 million for the implementationof low-income housing scheme?National Housing bank6. On 4 April 2013, K.H.Muniyappa, theMinister of State (Independent Charge) ofthe Ministry of Micro , Small and MediumEnterprises (MSME) given the statement.His statement does not include.....


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1) MSME sector contribute 9% of GDP2) It accounts for around 45% of the manufacturingoutput3) It contributes 36% of total value of exports4) The sector has been growing consistently

above 10% for the last five years7. Who was appointed asthe chairman to suggestthe measures forenhancing MSMEexports recently?R.S.Gujral8. The Indian Life Assurance Companies Actwas the first statutory measure to regulatelife business in India. It was passed in ......?1912

15. Factoring means......business of buying trade debts at adiscount and making aprofit when debt is realized19. Stagflation means .........?Persistent high inflation combined withhigh unemployment and slow economicgrowth23. Where is the head office of InsuranceRegulatory Development Authority?Hyderabad27.

On 13 June 2013, RBI slapped fine on newgeneration private banks. The main reasonis for ......?violating rules of KYC (Know YourCustomer)29.USSD stands for .......?Unstructured Supplementary Service Data32. In which country Bank of Baroda opened its100th overseas branch on 28 March 2013?Dubai33. Savings account become inoperative, if.... ?not operated at all during certain periodas per the bank rulesKey1. Which Banks are established to help smalland marginal farmers, agricultural labour,artisans and small entrepreneurs etc?Regional Rural Banks2. In which year, the Banking commission submitted


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the report to establish rural banks?19723. Which prime minister mentioned the conceptof 'Rural Banks' in Twenty-Point Programmeannounced on 1 July 1975?

Indira Gandhi4. On 30 July 1975, the working group on RuralBanks submitted report to the government ofIndia. It was headed by ...?Narasimaham5. In which year, the President of India issuedthe ordinance to establish Regional RuralBanks?19756. Regional Rural Banks Act passed in...?1976

7. In Regional Rural Banks, Central governmentholds 50% capital and Sponsoredbank holds 35% capital. Who holds theremaining 15% capital?State government8. Financial regulation of RRBs seen after by..?Reserve Bank of India9. Supervisory powers of RRBs have beenvested with....?NABARD10. The first Regional Rural Bank India started

by Syndicate Bank on 2 October 1975. Itis.....?PrathamaGrammen bank at Moradabadin Uttar Pradesh11. Regional Rural Banks are not found in thestate of.....?Sikkim and Goa12. Which committee recommended to permitRRBs to invest Non-SLR surplus funds inprofitable areas?Bhandari13. Which committee recommended for theamalgamation of RRBs?Vyas14. On 22 April 2013, the Regional Rural Banks(Amendment) Bill, 2013 introduced toincrease the authorized capital of RRB fromRs. 5 crore to Rs... (in crores) ?500


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15. As per the statement given on 24 June2013, Companies planning to apply forbank licenses will be allowed how much percent foreign direct investment (FDI) in theirholding companies?

100%16. Which international monetary organizationgranted $110 million to help Urban servicesin Jammu and Srinagar on 17 May 2013?Asian Development Bank17. Maturity of Inflation Indexed Bonds issuedby RBI on 15th May 2013 is.......?10 Years18. Clean Note Policy issued by RBI on 14 May2013. As per RBI, onaverage what percentage

of notes isdisposed off after gettingsolid every year?20%19. Closed-end fund schememeans.......?A scheme of an investment company inwhich a fixed number of shares areissued4) Company's offer to sell the assets at thelowest rate20.

AamAdmiBimaYojana, a Social Securityinsurance Scheme for rural landlesshousehold introduced by union governmenton 2nd October 2007. The schemeadministered by...?LIC21. Aim of Swavalamban is......?To encourage the people from the unorganisedsector to voluntarily save fortheir retirement22. Operation Ganga Prahar relates to.....?rescue operation of Army to rescue thestranded pilgrims in Uttarakhand29. By which year, India surpassChina to become most populouscountry in the world as per the estimatesof United Nations report?202831. The rate at which Reserve Bank of India


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(RBI) borrows money from banks is.....?Reverse Repo Rate33. If the Reverse Repo Rate increases, thenbank...?funds decrease, as bank lend the funds

to RBI due to rate hike34. If the Reverse Repo Rate increases, theninterest on loans offer by banks usually'increase36. In the RBI's mid-quarter monetary policyreview declared on 17th June 2013, RBIseriously concerned about ...?Rupee fall, external sector risks and elevatedfood inflation37. As per the Annual monetary policy statement2013-2014 announced on 3 May

2013 by RBI , which of the following BRICS nationsshowed the accelerated growth during2012?South Africa and Brazil

Aj-u.R--u1

1. Which of the following is not the Traditionalfunction of RBI?1) Issue of Currency Notes2) Banker to the Government3) Subsidies to people4) Banker to Bank

2. Exchange Rate Management is the..................... function of RBI.Traditional3. Which Paper Currency denomination notissued by RBI?Rs.14. Currency issued by RBI (and also by governmentof India) is called .............Legal Tender5. On the RBI issued paper currency, who putthe signature?

Governor6. Rs.1 paper currency issued by ......Government of India7. Rs. 1 paper currency sign by ...........Finance Secretary8. Which Act conferred the monopoly onGovernment of India to issue currency notes,ending the issue of currency by presidency


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and private banks?Paper Currency Act 18619. Government of India issued the entire currencynotes till .............establishment of RBI

10. In which year the RBI first time issued Rs.5Bank Note bearing the portrait ofGeorge VI?193811.The denomination of any paper currency tobe minted by RBI decides by ...Government of India12. As per the present rules, RBI can issue thepaper currency denomination up to thevalue of .............Rs.10,000

13. First time Rs.1000 and Rs.10000 banknotes were demonetized in........194614. In which year again the large value denominationbank notes Rs. 1000, Rs.5000 andRs. 10000 were reintroduced?195415. Second time Rs. 1000 and Rs.10000 (alsoRs.5000) demonetized in the year of .....1978

16. Who decides the volume and value of banknotes to be printed each year?RBI18. Which NBFC got the permission from RBIto establish 9000 White Label ATMs in thecoming 3 years@2013-2016Muthoot Finance22. DICCI SME Fund is India's first ...........SEBI registered fund for Dalits

25. Put Option means ............Right to sell a certain amount of shares ata specific price and within a given timeframe42. In which bank recently, LIC purchasedRs.500 crore non-convertible bonds?United Bank of India43. On 1 July, 2013 RBI declared that Banksface the huge asset-liability mismatch


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in ..............home Loans44. Certificates of Deposit (CDs) were introducedin India in ...........1989

45. Certificates of Deposit is a .........negotiable money market instrument or aPromissory Note against funds depositedat a bank46. Certificate of deposit issued by banksexcept ...........1) Public Sector Banks2) Private Sector Banks3) Regional Rural Banks4) all of above 5) None47. The minimum amount of Certificate of

Deposit can be issued Rs ........ (In lakhs)148. Bank's Certificate of Deposit maturity periodminimum period is 7 days and maximumperiod is ..............(in years)149. Financial Institutions' Certificate of Depositsminimum period is 1 year and maximumperiod is .............. (in years)350. 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 withdrawal3) Any time banking4) Electronic mode of withdrawals3. As per the direction of RBI on 18 March2013, which facility provided to the customerson savings account must be discouraged?Receiving post datescheques in the caseof EMI4. The Savings Account can be opened by.....1) Senior Citizen 2) Woman 3) Student4) Billionaire5. Whether Savings Account can be openedJointly (Joint Account)?Yes


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6. A bank given advertisement that SWAP facilityavailable in Savings Account. It means.....the higher amounts in the account moveto higher interest accounts7. In the opening of Savings Account (few other

accounts also) bank ask to writeNominee name. Who shall be nominee?Close blood relation only8. Nominee's age in the savings account ......any age9. Savings account become inoperative, if theaccount .........not operated at all during certain periodas per the bank rules10. Consider the following statements.a) A person saves money from his regular

incomeb) He wants to save the money in anaccount which permits withdrawals anytime with rational rate of interestc) He also want to issue cheques in favourof othersd) He wants to use ATM card alsoThe most suitable account for him is ....?Saving account11. The facts relating to the current accountdeficit as told by RBI on 3 May 2013 given.

1) Current Account Deficit (CAD) as thebiggest risk to Indian economy.2) had touched a record high of 6.7 percentin the December quarter of last fiscal year3) outlook for Advanced Economies (AEs)remains uncertain, and even if there maybe no event shocks, there could well beprocess shocks which could result in capitaloutflows from emerging developingeconomies.4) It said it concern over rising external debtand short-term borrowings to meet thewidening CAD.12. In a continue effort tocurb the rupee volatility,which of the measurenot taken by RBIon 16th July 2013?Increased the SLR to 25% to curb the circulation


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of money up to Rs.1,20,000crores13. World Bank has approved a concessionalloan of $ 100 million for the NationalHousing Bank on 17 May 2013.

1) The loan was granted implementation of alow-income housing programme2) The programme will support NHB in refinancingmortgage loans4) NHB is the regulator of Home loans givenby HFC14. Which International Monetary Organizationgranted $ 100 million to Jammu & Kashmirfor the development of infrastructure?ADB15. $84 million granted by ... to strengthen panchayath

project in Bihar on 27 June 2013.World Bank19. Which familiarcombination comeunder ''DemandDeposits''?Saving Account, Current Account25. The general level of prices increase overtime is called .........inflation

26. Sustained decrease in the average price

level is called ..........deflation27. Demand-pull inflation is an inflation thatresults from an initial .........increase in aggregate demand28. Where the inflation of a nation increasesgradually, but continually, over time iscalled .......creeping inflation

29. 'Very rapid inflation which is almost impossibleto reduce it' is called.......galloping inflation30. If the cost of production rise, for one reasonor another, and force up the prices of finishedgoods and services it is called .......cost-push inflation31. In its mid-quarter review of the monetarypolicy, announced on 17 June 2013, what


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reason told by RBI for the continuation ofinflation in India?Food prices34. ......... committee look in to issues relating tofinancial bench-marking and examine if

they have become obsolete and needchanges. The committee appointed by RBIon 28 June 2013.Vijay Bhaskar35. According to a recent ruling by theSupreme Court, in cheque bouncing casefor a cheque issued from a joint account,who can be prosecuted under Section 138of the Negotiable Instruments Act?Only the person who signed the cheque36. The British Indian business tycoon Sanjeev

Kapoor bought Hypo AlpeAdria bankhaving headquarters in .......Austria2. Details of Bank of Baroda given. Pick the2) Its logo has dual B letter forms thathold the rays of the rising sun.3. Statements relating to Bank of Baroda1) Bank of Baroda head office is inMumbai.2) BOB Cards limited, BOB CapitalMarkets Ltd and Nainital Bank Limited

are its subsidiaries.3) CNBC TV18 conferred the India BestBanks and Financial Institutions Awards2012 award on Bank of Baroda.5) It recently opened 100th overseas officein 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 thename of GrameenParamarshKendras?Bank of Baroda5. 'India's International Bank' is the punch lineof .........Bank of Baroda6. On 22 June 2013, which bank inauguratedthe national pilot agri-loan factory atHimatnagar in Gujarat?Bank of Baroda7. Legal & General (UK), Andhra Bank and


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which another Indian Bank commenced aLife Insurance joint venture by name M/sIndia First Life Insurance Co Ltd?Bank of Baroda10. Which is the first nationalized bank in

India to start the fully computerizedbranch?Bank of India11. Which is the first nationalized bank inIndia to start ATM in 1989 in Mumbai?Bank of India12. First Indian bank to open a branch outsidethe country, at London, in 1946 is....Bank of India13. 'Star Union Dai-ichi Life Insurance Co.Ltd' is the joint

venture of Union Bank ofIndia, Dai-ichi Mutual Life InsuranceCompany and ..........Bank of India14. India's 4th largest Public sectorbank is ...Bank of India16. 'ABHAY' is the credit counseling centerof .........Bank of India17. On 11 June 2013, RBI raised the limit for

online repatriation of export proceeds to...$ 1000018. RBI made it mandatory for units in SpecialEconomic Zones to repatriate full value ofexports within..12 months19. On 25 June 2013 CRISIL launched afinancial inclusion index. It is .......Financial Inclusix20. As per CRISIL index on Financial inclusionwhich part of India is top in the financialinclusion?South India21. Top three States/ Union territories interms of financial inclusion are ...... as perCRISIL index.Puducherry, Chandigarh and Kerala22. To whom the Central Govt. had givenample powers to tackle ponzi schemes?


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SEBI23. Former Goldman Sachs Bank Chairman Rajat Gupta isaccused in ..........Insider trading scam25. Statements relating

to IFCI given.1) IFCI means IndustrialFinance Corporation ofIndia.2) It was established on 1July 1948 under theIndustrial FinanceCorporation Act of 1948.3) It provides medium and long term financialassistance to large scale industrialundertakings.

26. As per the recent report published byFATF, an inter-governmental body, Indiahas addressed shortfalls in its blackmoney fight. Expand the term FATF.Financial Action Task Force27. IRDA (Insurance RegulatoryDevelopment Authority) removed .......percent investment limit on reverse repotransactions for insurance companies on3 April 2013.102.

First full pledged legislation to allow the formationof Co-operative Societies is .......Co-operative Credit Societies Act, 19043. The first Act to pass to pave the establishmentof Co-operative banks -Co-operative Credit Societies Act, 19124. Which committee was appointed in 1944 togive recommendations to improve co-operativemovement?MacLagan5. Which sector is the major beneficiary of Cooperativebanking system till 1969?Agriculture6. Indian Co-operative Bank system is ........Federal7. On 13 April 2013, RBI decided to cancel thelicenses of 26 loss-making co-operativebanks as they got losses. Majority of themare in .....


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UP8. ......... is the apex of the three-tier co-operativestructure in India.State Co-operative banks9. Which bank finance, coordinate and control

the working of District Central Co-operativeBanks in the states?State Co-operative Bank10. State Co-operative Banks (SCB) usuallylend .......1) District Central Co-operative Banks2) Primary Co-operative banks3) to individuals in exceptional cases11. Capital of State Co-operative Banks (SCB)mobilized from ........1) Members of District Central Co-operative

Banks2) Members of Primary Cooperative banks12. The external lending agencies to State CooperativeBanks (SCB) are ......1) NABARD 2) Development Banks3) State Government 4) Financial institutes13. ........ is the intermediate rung in the threetierCo-operative Credit structure.District Central Co-operative Banks14. The funds of District Central Co-operativeBanks arisen from ..........

1) NABARD lending 2) State government3) Affiliated Co-operative societies4) Funds from State Co-operative Banks15. Gross level of arms of the short term cooperativecredit structure is ........Primary Agricultural Credit Society16. The functions of PrimaryAgricultural Credit Societyis .......1) lending 2) mortgage3) pledge4) accepting deposits17. Primary Urban Co-operative banksestablished with the aim of givingdelivering banking services in ....areas.Urban18. By which date, the Urban Co-operativebanks must implement CBS facility


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in all its branches as per the order ofRBI on 13 March 2013?31 December 201319. The recent actions/ orders of RBI to controlCo-operative banks given. Pick the correct

one.1) Customers of Pune-based Rupee CooperativeBank restricted by limiting theamount of money that depositors canwithdraw up to Rs.1000 only. It is pune

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