Tuesday, January 1, 2013

IBPS BANK EXAMINATIONS BANKING AWARENESS RAPID READING EXERCISE- PART: 022






01. The most effective channel other than traditional branch channel to achieve the aim of providing banking services to the people in rural and remote areas – putting biometric ATMs
02. Land Development Banks form part of the cooperative credit structure
03. KYC guideline is basically an anti money laundering exercise
04. Bharat Nirman Yojana is not welfare scheme launched by the Government of India
05. The following cannot be considered as a value added service offered by any bank – free cheque books
06. The minimum number of women required for formation of women groups under Development of Women and Children (DWCRA) program is 10
07. Dirham is the currency of UAE
08. The land development bank secure short term accommodation from – state governments, commercial banks and state cooperative banks
09. GNP stands for gross national product
10. FINO means Financial Investment Network and Operations
11. Nationalisation of banks in the country took place under two phases – the first phase on 19.7.1969 for fourteen banks and on 15.4.1980 in the second phase for six banks
12. Industrial Exit policy means allowing the business units to close down
13. The following is not the feature of Real Time Gross Settlement – RTGS – settlement of funds in revocables
14. The 2011 census is the 15th census
15. Sub Prime refers to lending done by financing institutions including the banks to customers not meeting with normally required credit appraisal standards
16. National Rural Employment Guarantee Scheme is associated with Mahatma Gandhi
17. Currency is one among several terms used in banking
18. Standard and Poor is a credit rating agency
19. RBI is the banker of the banks and it is also called as the central bank of the country
20. The first bank in the country to implement reverse mortgage in the country is Punjab National Bank
21. Reverse mortgage scheme is beneficial for senior citizens for availing loan against immovable properties
22. State Bank of India has been appointed for refunding income tax to tax payers
23. Inflation has become a major area of concern in the country these days and Government of India and Reserve Bank of India normally take to control the same the following measures namely – system of dual prices; increase in supply of food grains and control on credit and liquidity in market
24. Government of India these days is very keen about the credit to the rural people and the product launched by the banks to provide loan/credit to the farmers quickly – Kisan Credit Cards
25. SEBI was established during the year 1988
26. SEBI was made a fully autonomous body in 1992
27. SEBI regulates the securities market and protect the interests of the investors in securities
28. The short and medium term cooperative credit structure in the country federal in character consists of three tiers viz: the State Cooperative banks at the state level; the central cooperative banks at the district level and primary cooperative credit societies at the village level.
29. Mutual funds are regulated by – SEBI – Securities and Exchange Board of India
30. Raghuram Rajan Committee had submitted recommendations on financial inclusion
31. The main function of the International Monetary Fund is to help solve balance of payments problem of member countries
32. NABARD is limited to the needs of agriculture and rural finance
33. SEBI is the regulator of the credit rating agencies in the country
34. The terms which are associated with banking operations are – repo rate, prime lending rate and corporate finance
35. Joint Liability Groups replicate the self help groups
36. UTI bank has officially changed its name to Axis Bank Limited
37. A hot money or the refugee capital is one which is transferred from one centre to another for greater safety
38. RBI has asked all the banks in the country to form customer service panels at branch levels
39. Indra Awas Yojana is one of the most successful programs under Bharat Nirman
40. SARFAESI act was framed specially to deal more effectively with the problem of non performing assets in the banking system
41. Operation market operations of Reserve Bank of India refer to trading in securities
42. SEBI has introduced a new tool named Data Warehousing and Business Intelligence System (DWBIS) for speedy analysis of data and identification of violations
43. EXIM bank is a term lending institution
44. Central Cooperative Banks occupy a crucial importance in the cooperative credit structure
45. Central Cooperative Banks form an important link between the State cooperative bank at the apex and the primary agricultural credit societies at the base
46. Central cooperative Banks are closer to the primary societies than an apex bank could be
47. In context with the business and banking, CRAR means Capital to Risk Asset Ratio
48. Rangarajan committee is the first committee that gave its recommendations relating to mechanization of banking system
49. The definition of banking has been given in Negotiable Instruments Act 1881
50. Employer’s contribution to contributory provident fund of employees is a transfer payment


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