b a n k i n g aw a r e n e s s p a r t 0 2 { i b p s p o ...c a n ’ t is s u e - l oan, credit...

YouTube SMC Education Banking Awareness Part 02

Banking Awareness Part 02 { IBPS PO, Clerk, RRB Officer Scale & Assistant, SBI PO & Clerk }

1. What is the initial capital of payment bank ? – 100 cr ● Committee - Committee on Comprehensive Financial

Services for Small Businesses and Low Income Households, ● Head - Nachiket Mor {currently India Country Director for

Bill and Melinda Gates Foundation & Member of RBI} ● Can’t Issue - Loan, Credit Card ● Can issue -ATM cards, debit cards online banking and

mobile banking. ● Note - The banks will be licensed as payments banks under

Section 22 of the Banking Regulation Act, 1949 and will be registered as public limited company under the Companies Act, 2013

● Number of Payment Banks - 11 out of 41 Applicant 1. Aditya Birla Nuvo 2. Airtel M Commerce Services 3. Cholamandalam Distribution Services 4. Department of Posts 5. FINO PayTech 6. National Securities Depository 7. Reliance Industries 8. Dilip Shanghvi, Sun Pharmaceuticals 9. Vijay Shekhar Sharma, Paytm 10. Tech Mahindra 11.Vodafone M-Pesa

2. What is the full form of Qip ? – Quali�ed Institutional

Placement is a capital-raising tool,

www.resultuniraj.co.in www.smconlineedu.in 1

http://www.resultuniraj.co.in/

http://www.smconlineedu.in/


Introduced by - SEBI 3. BSBDA max investment in one year – 1 lakh

● No Frills Account - Zero Balance ● 4 Withdrawal including ATM ● AC Limit Does Not Exceed RS 1 Lac per Year ● AC Limit Does Not Exceed RS 50, 000 at any point of

time ● All withdrawal & transitions do not exceed 10,000 per

month 4. �nancial inclusion scheme- jan dhan yojana

Jan Dhan Yojana - ● Zero Balance A/C ● 30,000 Insurance by LIC ● 5000 Overdraft facility after 6 month

5. SDIB full form { Small Industries Development Bank of India } ● Headquarter - Lucknow ● Chairman and Managing Director -Dr. Kshatrapati

Shivaji 6. EPS Min Pension- 1000/ month { Employees' Pension

Scheme } 7. BBPS Full form – Bharat Bill Payment System

● integrated bill payment system ● To pay light bill, phone bill, piped-gas bill, DTH, school

fees & other utility bills. ● Committee - RBI Executive Director G. Padmanabhan ● Body - NPCI ( National Payment Corporation of India ) ● Card - RuPay

8. TARC Committee head ?.... Parthasarathi Shome ● Tax Administration Reform Commission ● to review the application of tax policies and tax laws in

India in the context of global best practices, and to recommend measures for reforms required in tax administration





9. PLR is also known as – Base Rate

BPLR : Benchmark Prime Lending Rate {after 2010 → base rate}

10. Commodity market regulator – Forward Markets Commission {FMC}

● Headquarter Mumbai, ● Shri Ramesh Abhishek (Chairman)

11.One question related to RTGS… which one is true about RTGS ● Real-time gross settlement ● Minimum Limit - 2 Lakh

12. Maximum limit money transfer in Nepal via NEFT - RS 50000/-

13. CTS full form…… Cheque Truncation System ● Magnetic ink character recognition code (MICR Code) ● Image-based Clearing System (ICS)

14. which bank is the �rst in the country to introduce EMI on debit cards …. ICICI





15. What is the full form of NPA ? – Non Performing Assets {90 Days}

16. What is the full form of BC? -Business Correspondent 17. Who is the lender of last resort for banks in india ? – RBI

● to preserve the stability of the banking and �nancial system

18. What is the Duration of PPF account ? – 15 years ● Minimum -500, Maximum - 1.5lac per �nancial year ● it can be extended for 1 or more blocks of 5 years each ● current rate of interest on a PPF account is �xed at 8.1%

p.a 19. What is the full form of KYC? – Know Your Customer 20. What is Amortization ? – The paying o� of debt with a

�xed repayment schedule in regular installments over a period of time.

21. What is the limit of free ATM transaction under PMJDY ? – 4

22. What is the Base year for new consumer price index? – 2010

23. KYC norms implemented under – Banking Regulation Act, 1949

24. Kissan credit card validity – 5 years ○ Committee – Shyamala Gopinath ○ Act -Government Savings Certi�cates Act 1959 ○ Who can invest – An adult in his own name, or on

behalf of a minor, A Trust or Two adults jointly ○ Amount – Minimum 1000, No upper Limit

(denominations of Rs 1000, Rs 5000, Rs 10000 and Rs 50000)

○ Interest Rate – 8.7% ○ Maturity Period – 30 Months (2 Years 6 Months) ○ Amount Doubled in 100 Months (8 Years 4 Months) ○ April 1988 – 2011, November 2014





25. Full form of FEMA – Foreign Exchange Management Act 26. Full form of LTV – Loan To Value

Ratio = Loan Amount/Asset Price {Car, House} Haircut- It is the di�erence between the market value of an asset used as loan collateral and the amount of the loan

27. Cheque is de�ned under which act – Negotiable Instruments act,1881

28. Monetary policy regulated by – RBI 29. Full form of IPO – Initial Public O�ering

○ Initial public o�ering (IPO) or stock market launch is a type of public o�ering in which shares of a company usually are sold to institutional investors that in turn, sell to the general public, on a securities exchange, for the �rst time.

○ Through this process, a privately held company transforms into a public company.

30. Full form of NAV – Net Asset Value 31.Banking ombudsman appointed by – RBI 32. Full form of NBFC – Non Banking Finance Company 33. What is the new name of MCX ? – Metropolitan Stock

Exchange of India Ltd’, abbreviated as ‘mSXI’ 34. IRDA headquarter? – Hyderabad 35. Insurance regulator in india? – IRDA

Chairman, IRDA T.S. Vijayan 36. Full form of IFSC- Indian Financial System code

○ alphanumeric code that facilitates electronic funds transfer in India

○ Real Time Gross Settlement (RTGS) & National Electronic Fund Transfer (NEFT)





○ 11 Digit = 4 Digit bank Code + 0+ 6 digit Branch Code, Example - SBBJ 0 010058 {SBBJ Laxmangarh Sikar Rajasthan}

37. Who can issue commercial paper- Corporates, primary dealers (PDs) and the All-India Financial Institutions (FIs)

● Commercial paper , in the global �nancial market, is an unsecured promissory note with a �xed maturity of no more than 270 days

38. Share of state government in RRB – 15% ○ Central Government-50%, State Government- 15% and

Sponsor Banks- 35 ○ Narsimham Committee

39. Rupay card is developed by? – NPCI 40. First three digit in MICR represents- City 41. Full form of GST- Goods and service Tax

○ The taxes which will be subsumed into GST include central excise duty, services tax, additional customs duty, surcharges and state-level value added tax

42. RIDF, NRLM, PIO full form – ○ RIDF-RURAL INFRASTRUCTURE DEVELOPMENT FUND, ○ NRLM-NATIONAL RURAL LIVELIHOOD MISSION, ○ PIO-PERSON OF INDIAN ORIGIN

43. RBI announces STAR SERIES notes recently. What is it?





44. Max life insurance tie up with? – Axis bank 45. NPS-NATIONAL PENSION SCHEME 46. HDFC Erdo-General Insurance Company – 47. Hum hain na tag line – ICICI Bank 48. Prathama bank on which place – up moradabad 49. Bajpai committee is related with- New Pension System 50. SBI MINOR ACC for children above 10 years is ? – Pehli

Udan 51. Which bank has largest number of mobile application user

? – SBI 52. What is universal Banking – A banking system in which

banks provide a wide variety of �nancial services, including both commercial and investment services.

53. Committee to examine the current monetary policy- Urjit Patel Committee

54. Which insurance company has the tagline ‘Aapke Sachche Advisor’- Max Life Insurance





55. What ‘E’ denotes in NRE?- External (Non Resident External)

56. Who headed the panel that recommended diluting govt. share in public sector banks to below 50% – P J Naik

57. SBI launched multi currency card in association with – Mastercard

58. On a certain angle, the security thread on a rupee note changes to – Blue

59. HDFC Standard Life is a – Life Insurance Company 60. One Question on SARFAESI Act?

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (also known as the Sarfaesi Act) is an Indian law .It allows banks and other �nancial institution to auction residential or commercial properties to recover loans.




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