IBPS General Awareness Special Reference to Banking Sector - Expected Questions

Expected Topics for IBPS Clerk-3
••••••••••••••••••••••••••••••

MICR
••••••

•Full form is – Magnetic Ink Character Recognition
•Contains 9 digits for each having its significance
•First three digits – city code
•Middle three digits – bank code
•Last three digits – branch code

Easy Trick to Remember Bank Headquarters
DEMAT
••••••••
•Full form of DEMAT – Dematerialization
•DEMAT is mandatory for – dealing in shares
•It keeps the information
of share holdings of individual in electronic form.
•With how much minimum balance it is opened ? - zero balance(the account contains only data of shares,no balance)



KISAN CREDT CARD
••••••••••••••••••••••
•The full form of KCC – Kisan Credit Card
•KCC scheme was intoduced by – GOI , RBI , NABARD
•KCC scheme was introduced in the year – 1998
•The objective of KCC is – to fulfill the credit needs of farmers during cropping season through banking system.


BANKING OMBUDSMEN
••••••••••••••••••••••••••
•They are appointed by RBI
•Banking Ombudsmen resolve the problem of customer’s complaint regarding bank.
•They do not charge any fee
•There are total 15 ombudsman appointed across India
•A banking ombudsman can allow maximum compensation of – Rs.10 lakh
•If ombudsman is unable to resolve the query(case), that case is transferred to – appellate authority

Bank Current affairs for IBPS Exam 2013/2014

CTS
••••

•It is a project undertaken by RBI for faster clearing of cheques.
•Truncation is the process of stopping the flow of the physical cheque issued by a drawer at some point with the presenting bank en-route to the drawee bank branch.
•CTS is basically an online image-based cheque clearing system where cheque images and MICR data are captured at the collecting bank branch and transmitted electronically.
•Starting 1 August 2013 only CTS-2010 compliant cheques would be accepted for clearing.
•On 17 July 2013 the RBI extended the deadline to 31 December 2013.



NSAP
••••••
•The National Social Assistance Programme (NSAP) which came into effect from 15th August,1995 represents a significant step towards the fulfillment of the Directive Principles in Article 41 of the Constitution.
•NSAP at present, comprises of Indira Gandhi National Old Age Pension Scheme (IGNOAPS), Indira Gandhi National Widow Pension Scheme (IGNWPS), Indira Gandhi National Disability Pension Scheme (IGNDPS), National Family Benefit Scheme (NFBS) and Annapurna.
• The program introduced a National Policy for Social Assistance for the poor and aims at ensuring minimum national standard for social assistance in addition to the benefits that states are currently providing or might provide in future.
IBPS PO/MT Exam Pattern Strategy Books Free Material


COMMERCIAL PAPERS
••••••••••••••••••••••••
•It is a money market security
•It is unsecured promissory note
•It is a negotiable instrument
•Its minimum maturity period is 7 days
•Its maximum maturity period is 1 year
•It is issued in the multiples of Rs.5 lakh



WHITE LABEL ATMs
••••••••••••••••••••••
•RBI permitted (on June 20,2012), non-bank entities in India under the companies act 1956 allow to set up own ATMs in India only.
•ATMs operated by Non-bank entities is White label ATM's
•Acceptance of deposits at WLAs  is not permitted.
•Eligibility for operating white label ATMs – Entities must have a net worth of Rs.100 crore(Company. eg: TATA )


RBI Question Paper with Solution

EQUATED MONTHLY INSTALMENT
••••••••••••••••••••••••••••••••••••••
•"A fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month, so that over a specified number of years, the loan is paid off in full."


Related Posts Plugin for WordPress, Blogger...

Disqus for UPSC Exams

Please Share your View, Query in comment sections given below every post. Make this platform a new interactive Discussion forum.

We just want your love. post comments and visit daily for latest information .