Tuesday, January 1, 2013

IBPS BANK EXAMINATIONS BANKING AWARENESS RAPID READING EXERCISE- PART: 021






01. The first private bank in India to receive an in principle approval from Reserve Bank of India was Housing Development Finance Corporation
02. The actual return of an investor is reduced sometimes as the prices of the commodities go up all of a sudden. In financial sector this type of phenomenon is known as market risk
03. The Narasimhan committee for financial sector reforms suggested reduction in statutory liquidity ratio and cash reserve ratio
04. The Global enabling trade report is released by world economic forum
05. Coins are minted at Mumbai, Hyderabad, Noida and Kolkatta
06. The set of directive principles issued by the central bank of a country or the process adopted by it to control the supply of money, availability of money, cost of money and rate of interest, etc in order to bring stability and growth of the economy are commonly known as – monetary policy of the central bank of the country
07. Deciding policy rates like cash reserve ratio, repo rate and statutory liquidity ratio are not the functions of a commercial bank
08. Banks do not issue pan cards
09. Petro dollar means – money owned by oil rich countries invested in United States of America
10. Banking regulation act was framed specially to deal more effectively with the problem of non performing assets in banking system
11. The new capital adequacy framework prescribed for the banks is commonly known as basel accord
12. PFRDA stands for – Pension Fund Regulatory and Development Authority
13. Indian Bank Association recently prepared a charter of the banking codes and services
14. SEBI is called as Securities and Exchange Board of India
15. SEBI has asked all foreign funds to come forward and register themselves as foreign institutional investors prior to any investment in India
16. PMGSY – Pradhan Mantri Gram Sadak Yojana
17. PMGSY was launched in 2000
18. As compared to traditional budgeting, the  performance and programme budgeting system stresses more an outcome and less on expenditure allocation
19. Regional Rural Banks are empowered to transact the business of banking as defined under Banking Regulation act 1949
20. According to the Securities and Insurance Laws (Amendment) Bill 2010, RBI Governor will be the vice chairman of joint commission to resolve differences amongst the financial regulators
21. Adjustment credit is used in the field of finance and banking
22. Increase in interest rates is found to be the best option when RBI wants to block/hinder capital outflows and contain currency depreciation.
23. Globalisation means – the growth of a single united world market
24. The inflationary impact of the inflow of foreign capital in India is neutralized by RBI by sale of securities in the open market
25. The main function of International Monetary Fund is to help to solve balance of payment problems at member countries
26. Bank of Baroda is having the largest number of branches in foreign countries
27. The documents which are considered as officially valid document to satisfy KYC guidelines for opening one bank account – pass port, PAN card, aadhar number issued by Unique Identification Authority of India
28. The standard of living in a country is represented by its per capita income
29. Phishing means – fraudulent way of acquiring PIN and bank passwords using email
30. State Bank of Mysore merged with State Bank of India during 2010
31. Prudential ICICI Mutual fund has been renamed as ICICI Prudential Mutual Fund
32. Government of India is in the process of the establishment of SROs for various market participants in the capital market
33. SRO means Small Regulatory Organisation
34. Micro credit or micro finance is novel approach to banking with the poor. In the approach bank credit is extended to the poor through self help groups
35. Reserve Bank of India prepares the balance of payments accounts in the country
36. An over valued currency in the foreign exchange market will have the following impacts in the country namely – make imports cheaper and exports costlier
37. When a large number of investors in a country transfer investments elsewhere because of disturbed economic conditions, it is called as flight of capital
38. Government of India promulgated Banking Companies (acquisition and transfer of undertaking) ordinance to acquire 14 commercial banks on 19.7.1969
39. On the current account balances maintained by the Regional Rural Banks with them, the commercial banks may pay interest at such rates as may be mutually agreed to
40. Bank rate signals the Reserve Bank of India’s long term outlook on interest rates
41. In deposit accounts KYC (Know Your Customer) has been implemented in 2002 as per the directive of RBI
42. FRBM – Fiscal Responsibility and Budget Management
43. As national initiative which allows pregnant women to undergo delivery free of cost in government health institutions was recently launched and the name of the scheme is Janani Shishu Suraksha Yojana
44. The following assets are considered as near money – bonds, time deposits, equity shares and travellers’ cheques
45. Employer’s contribution to contributory provident fund to employees is a transfer payment
46. Indian Depository Receipt is known as IDR
47. IDR is an instrument in the form of depository receipt created by an Indian depository against underlying equity shares of the issuing company
48. Mid day meal scheme has been launched by the Ministry of Food and Civil Supplies of Government of India
49. NABARD is the apex institution which handles refinance for agriculture and rural development in the country
50. ULIP stands for Universal Loan and Investment Plan


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