BANKING AWARENESS EBOOK

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Banking Awareness eBook Subscription is available for Rs. and it will help you for SBI, IBPS, RBI Grade-B & Other Competitive Exams. Click here to Download the OLIVEBOARD BANKING AWARENESS e-book. All bank exams such as IBPS PO, IBPS RRB etc. have one thing in common, and. Download the Free Banking Awareness PDF (BOLT Series) E-Book here. It covers the complete Static Banking Awareness syllabus for Bank Exams.


Banking Awareness Ebook

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Click here to Download the OLIVEBOARD BANKING AWARENESS e-book. All bank exams such as IBPS PO, IBPS RRB etc. have one thing in Read More. Banking Awareness (India Bank exams) One app that presents all study materials that you need to know in detail for BANKING AWARENESS section of IBPS. Banking Awareness eBook - Ebook download as PDF File .pdf), Text File .txt) or read book online.

The Vyas Samman, instituted by the K. Birla Foundation, is given to an outstanding literary work in Hindi authored by an Indian citizen during the preceding ten years. In which field is the Chameli Devi Jain Award given annually? The K. It is a newspaper published in which of the following countries? On 15 November , the combined market capitalization of the 24 public sector banks which include 19 nationalized banks, SBI and its three associates and IDBI was Rs crore. As against this,the market capitalization of 14 private banks was Rs crore.

This is a reversal of the position at the beginning of As on 1 April , the total mkt-cap of government-owned banks was Rs crore much higher than the Rs crore for private banks. As on end-June ,PSU banks accounted for In matters of credit, PSU banks account for Two bad quarters of for State Bank of India and reports of loan restructuring and NPA worries in public sector banks hit valuations hard.

Incidentally,SBI the largest lender in the country has. There also exists larger social burden on the public sector banks because of which they have had to restructure large loans.

Compared to them the private banks have been selective in their lending and have had far fewer NPAs. Corp Bank scheme for Kerala Govt employees December 01, Corporation Bank has announced special benefits for the permanent employees of the State Government.

Nair, Zonal Manager, Corporation Bank, regional office, Kochi, said Corp Payroll Account is available for routing the salary of permanent employees through which they can withdraw 50 per cent of the amount as overdraft from the second month.

Instant ATM-cum-debit card, Internet banking, SMS banking, free remittance facility, cheque book, multi-city cheques and passbook are also available. There is a concession of 1 per cent on interest rates and 50 per cent of processing charges on housing loans and 0. Gift cards are also available free of charge. Which of the following bodies tightened the norms for foreign exchange risk cover in India mentioning that only companies with a networth of Rs crore can use derivatives to hedge against risk of volatility in currency rates?

IMF b. Reserve Bank of India c. SEBI d. Union Ministry of Finance Ans: Which body in India finally provided tax exemption on the 9. Reserve Bank of India b. Income Tax Department c. Employees Provident Fund Organisation d. Corporate Affairs Ministry Ans: SMS and immediate restoration of funds in case of non-dispensation of cash at an ATM within 5 working days.

Which of the above is not true? Only 1 b.

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Only 2 c. None of the above Ans: The Reserve Bank of India RBI in a bid to tame inflationary pressure hiked the short-term indicative policy rate repo rate by 50 basis points on 26 July The repo rate currently stands at what percentage? Which bank posted a 99 per cent drop in net profit at Rs 21 crore for the fourth quarter ended 31 March against Rs crore during the corresponding period in ? Indian Overseas Bank b. State Bank of India c. Bank of India d. United Bank of India Ans: Who did global payments processing company MasterCard.

Seshadri b. Vicky Bindra c. Tunde Lemo d. Ajay Banga Ans: Government of India on 19 July appointed Usha Ananthasubramanian, former general manager of Bank of Baroda BoB as executive director of which public sector lender?

Central Bank of India b. Punjab National Bank c. United Bank of India d. Gramin Bank Ans: Name the public sector lender that selected Metlife as its partner for a proposed foray into the life insurance segment. Syndicate Bank b. Corporation Bank d. Canara Bank. ABN Amro bank c. Yes Bank d. HSBC Ans: Which life insurance company in India launched a new non-linked health insurance plan, Jeevan Arogya?

Ltd b. Life Insurance Corporation of India c.

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Ltd Ans: Which of the following public sector banks in November froze its lending to the power sector? State Bank of India b. Allahabad Bank c. Punjab National Bank d. Union Bank c. Bank of Baroda Ans: The Reserve Bank of India on 26 April fined 19 banks, including the country's top private and foreign banks for violating its guidelines on derivatives. Which is the only public sector bank on the list of banks to be fined?

State bank of India b. Indian Bank Ans: Which of the following related to this statement is not true? The panel suggested the central bank to insist on a minimum asset size of more than Rs. Transfer of shareholding, direct or indirect, of 25 per cent and above, change in control, merger or acquisition of any registered NBFC will require prior approval of the Reserve Bank.

Tier-I capital for capital to risk weighted assets ratio CRAR purposes would be specified at 12 per cent to be achieved in three years for all registered deposit-taking and non-deposit-taking NBFCs.

NBFCs would be subject to regulations similar to banks while lending to stock brokers and merchant banks and similar to stock brokers, as specified by the Securities and Exchange Board of India SEBI a. Only 4 d. Only 1 Ans: Which Indian PSU bank in tune with its plans to expand its retail division in the UK entered the mortgage market in the country for the first time? Punjab National Bank b. Oriental Bank of Commerce c. State bank of India d.

Indian Overseas Bank Ans: Corp Bank b. United Bank of India c. Syndicate Bank d. The government suspended M Ramadoss for alleged violations in issuing insurance cover to an airline during his stint as head of another state-run insurer.

To which insurance group did he belong to? New India Assurance b. LIC c. GIC d. Which of the following banks in early May entered into a tie-up with non-banking finance companies such as Future Capital, Bajaj Finance, and Reliance Capital to grow its retail portfolio? Which are the two Gujarat-based cooperative sector lenders on which Reserve bank of India imposed a financial penalty of Rs 1 lakh each for violation of various rules, including anti-money laundering guidelines?

Shree MahalaxmiMercantile Co-operative Bank 2. Rander People's Co-operative Bank 3. Abad District Co Op Bank 4. Which of the following has proposed the setting up of a National Knowledge Functional Hub NKFH to facilitate interaction between the industry and institutions of higher education to produce better quality manpower recently?

The Reserve bank of India has increased the amount of money that can be loaded on mobile phones mobile - wallet to What are 'structural adjustment programmes'? Nuclear plants in India have an 'Exclusion Zone' of Improving regulation of which of the following was the subject of the Finance Ministry appointed KP Krishnan Committee? Which of the following is the new income tax return form for salaried employees introduced by the Finance Ministry recently?

Which of the following banks has launched 'Tiny Cards' with biometric identification to expand the coverage of banking services in rural parts of the country? The Bureau of Energy Efficiency labelling is compulsory for all of the following except: What is the investment limit in plant and machinery for classification under Small Scale Industries?

The government has recently decided to allow FIIs investment in infrastructure bonds upto The Government has decided to notify a provision exempting people of salary income up to Which of the following is the largest mutual fund in India with assets under management AUM exceeding Rs. Which of the following identifies and funds social welfare projects under its India Development Marketplace initiative?

Which of the following has been set up by the government to fund energy saving technologies recently? Which of the following is the new income tax return form for small businessmen and self-employed professionals introduced by the Finance Ministry recently? What is the objective of CEIB? Which of the following. Government has decided to introduce biometric Which country is the single largest source for foreign direct investment to India, accounting for 40 percent of FDI flows in the last ten years, according to the Reserve bank of India?

The government plans to set up a Green National Accounting GNA system to evaluate impact of economic growth on environment. Who has been selected as the Chairperson of the expert group on GNA?

Ulhas Karanth 5 None of these. Which is the first state to introduce e-payment system for commercial tax payers recently? Which of the following not one of the objectives of setting up the Warehousing Development and Regulatory Authority? The government approved the revival of Scooters India Limited SIL through induction of a joint venture partner recently.

SIL sells scooters under which trademark? Which sectors were added to the list of six 'core sector infrastructure industries' recently?

Bina Refinery is a joint venture of Bharat Petroleum and A high level committee of Bankers submitted its report on Rural Housing recently. Scheduled commercial banks do not require permission from the Reserve bank of India for opening new branches in towns with population less than A committee headed by RBI deputy governor Shyamala Gopinath has recommended a 'holding company' structure for both banking and nonbanking financial groups recently.

I Both the holding company as well as the subsidiaries can be listed on stock exchange II The subsidiaries will own equity stake in the holding company 1 II only 2 I and II only 3 I only 4 All of these 5 None of these. Which Indian corporate group has decided to enter the financial services business in a tie up with D. Shaw of the US? What are CDS?

Which is the first state in the country to sign an agreement with the World Bank for securing carbon credits for its 'Clean Development Mechanism' CDM recently?

From which state was the National Rural Livelihood Mission launched recently? The project is aimed at providing application software, maintenance of data centre, disaster recovery centre, related network connection and regular maintenance and support of hardware and software. The agreement reached under the project is likely to go a long way to bring the functioning of Cooperative Banks at par with Commercial Banks and Regional Rural Banks in Punjab. Indian Bank launched its 24 hour operating e-banking lounge on 11 April in Chennai.

The new service will provide the customers of Indian Bank with the facility of cash deposit, cash withdrawal, cheque deposit with acknowledgement, internet banking, touch screen banking for all account related transactions.

Rangarajan also launched two new tech products namely maestro enabled debit card for senior citizens and inter-bank mobile payment services. The senior citizen debit card will contain details like year of birth, blood group and photo of the senior citizen. Indian Bank has always been keen on introducing innovative, easy to use new tech products for the benefit of all types of customers and the general public.

The bank also plans to introduce e-banking lounges in various metros. Sreenivasan as part-time, non-official director on the board of Oriental Bank of Commerce.

Sreenivasan has been appointed for a period of three years. He had earlier served on the board of Union Bank of India between and and also on the board of Madras School of Economics. Sreenivasan, a practising chartered accountant with nearly 26 years of experience, is also a life member of the Indian Council of Arbitration. Fresh capital is to be infused in SBI. The government will inject Rs 3, crore into SBI during the current fiscal to help it achieve an 8 per cent capital adequacy ratio CAR.

Recapitalisation of banks is a continuing process and the government will continue to provide funds to PSU lenders through the Budget to ensure that they can meet solvency requirements. According to estimates, SBI needs about Rs crore of fresh capital to maintain the pace of growth without sacrificing solvency margin norms.

Moody's had recently downgraded the credit rating of SBI, citing inadequate capital and poor asset quality as reasons. The government holds a 59 per cent stake in the country's largest bank, SBI. Ratings Firm Moody's downgraded Indian Banking System's Rating outlook from Stable to Negative November 23, Global ratings firm Moody's on 9 November downgraded the entire Indian banking system's rating outlook from stable to negative indicating a deterioration in asset quality in the months ahead.

Arguing its case for the outlook downgrade the Moody's mentioned that with asset quality was anticipated to deteriorate over the next months, thereby causing an increase in provisioning needs for the banks in financial year and The Moody's decision was announced at a time when the Eurozone financial system is in turmoil and a large number of European banks are in dire straits.

The government rejected it claiming that the country's lending institutions are much healthier than their global counterparts. Indian bankers termed the move unwarranted and premature at this point of time. The market apprehended that the downgrade by the Moody's would render overseas borrowings costlier for Indian banks.

The negative sentiment sparked a major sell-off in banking stocks, resulting in the banking index on the Bombay Stock Exchange tumbling by 2. PSC refers to sharing of output with the government by companies, public sector as well private ones, in which sector?

What is the meant by recent news reports saying "Indian Rupee is appreciating"? Which state was in news for passing a Bill for regulating Micro Finance Institutions recently?

Which of the following has become the first state to sign a MoU with the Ministry of Statistics and Programme Implementation under the state statistical strengthening project SSSP that will aim at building statistical capacity and infrastructure recently?

The All India Federation of Horoogical Industries represents the interests of which of the following sectors? The Ministry of New and Renewable Energy has decided to ti-up with which country to tap the latter's expertise in exploiting geo-thermal energy resources recently?

GRIHA rating system is used for which of the following? The Genetic Engineering Appraisal Committee GAC recently gave its approval for field trials of a genetically modified variety of which of the following cash crops?

Which of the following public sector companies sells gold coins and silver ornaments under the trademark 'Sanchi'? Power produced from which of the following sources has the highest share in India's annual power generation capacity? What is the share of private expenditure on health in the total health expenditure in India according to the World Health Report of the World Health Organisation released recently? Which of the following are not listed on stock exchanges in India?

What should be the minimum share of solar energy in states' total power downloads by as per the amendment in power tariff policy recently? I per cent FDI is permitted in cold chain through the automatic route. The Index cannot invest in shares of companies in which of the following sectors?

Which of the following has launched the 'Bank on Bike' initiative to cover villages untouched by banking facilities so far recently? Which of the following has decided to enter the nuclear power sector following an agreement with the Nuclear Power Corporation recently?

Which of the following pairs of India's public sector banks and their headquarters are correctly matched? The tax on short - term capital inflows is named after which Nobel Laureate in economics? The term 'round - tripping' often appears in financial news these days. What does it mena? The Union Health Ministry has now decided to collect such data Which country's gold output of Which of the following was founded in by the Government of India with funding from the Ford Foundation? China emerged as the world's second largest economy in overtaking The Union Cabinet has approved amendments in the Coinage Bill that seeks to amalgamate four existing Acts relating to coinage recently.

Which of the following Acts is the oldest? Which of the following is not a hedge fund? Shaw 5 None of these Which of the following is not among the five major commodity groups covered in the indics?

What is the financial inclusion campaign lacunched by the government to bring banking services to vast unbanked rural areas in the country recently named? Whch of the following statements about India's population and surface area is are correct as per the provisional figures of Census ?

I India accounts for 2. According to the RBI, branches serving population of Which state government has announced introduction of 'Vanita Family Card' for below poverty line families that will enable them travel in road transport corporation buses at concessional fares recently?

NMIZ refers to which of the following? Which of the following statements is. Development to: Justice Wadhwa Committee is reviewing the functioning of which of the following? What is the objective of the National Mission for Electric Mobility launched recently? Which of the following became India's first bank to facilitate payment of income tax using ATMs recently?

Rabobank has received the Reserve Bank of India approval to set up its first branch in India recently. It is a bank headquartered in which country? The government has approved the creation of posts of 'Indirect Tax Ombudsmen' in several cities recently. What does 'remittances', a word we often come across in articles. Which state has launched the 'Jeevandhara' programme to provide quality medicines at affordable prices to the poor recently? The abbreviation 'EAG states' mentioned in the Census refers to which of the following?

Which of the following had the highest share of bank credit occupation - wise as on March 31, according to a RBI report released recently? The Banking Laws amendment Bill was tabled in Parliament recently. WHich of. The Banking Laws amendment Bill was tabled in Parliaent recently. What is the FDi limit in the insurance sector in India?

Which of the following is launchign 'Rupay' as a domestic alternative to the global real-time payment processing firms like Visa, MasterCard? The government has decided provide equity support to public sector banks PSBs to raise its holding to Which foreign bank publishes the monthly downloading Managers' Index PMI that measures the health of manufacturing sector in India and is based on a survey of top companies?

Which of the following has become the first state in the country to announce a monthly allowance to unemployed under-graduates recently? Which of the following sub-scheme refers to livestock development, dairy farming and fisheries? What was the share of priority sector lending in lending by commercial banks as on March 31, as per the 'Statistical Tables Relating to Banks in India ' report univeiled by the RBI recently? Which foreign bank has the highest number of employees in India?

Which of the following regions had the highest number of bank branches in the country as per the 'Statistical Tables Relating to. Banks in India ' unveiled by the RBI recently?

Which state has the highest number of commercial bank branches in India as on March 31, as per the 'Statistical Tables Relating to Banks in India ' report unveiled by the RBI recently? Which of the following does not come under the definition of Scheduled Commercial Banks in India?

What ws the poverty rate in according to recent estimates by Planning Commission? Which of the following has launched the 'Trans Union Score' that will indicate credit worthiness of consumers applying for loans from banks? Which bank has announced an end to its 'teaser' home loan scheme recently? The government has decided to set up an inter-ministerial group chaired by Planning Commission member Arun Maira to examine the ssue of imposing restrictions on FDI in pharmaceutical industry.

How much FDI is permitted currently? Which of the following is the criterion for allocation of foodgrains under the Public Distribution System PDS to below poverty line. BPL families? The government has launched 'Service Discharge Benefit Scheme' for over 2. Kimberley Process certificates are compulsory for for trade in which of the following? I 'Organisations of political nature' can receive foreign funds only after prior clearances from the government II Organisations that receive foreign funds will have to renew their registration once every three years III Banks will have to immediately report to the government about all foreign funds exceeding Rs.

RBI has decided to release a Rs. The revised estimates of national income for the financial year. The government has set up Vidyut Vyapar Nigam' as the Central Agency to download solar power from the developers and sell it to distribution companies such as state electricity boards. The Reserve Bank of India RBI announced a change in its overseas direct investment guidelines to give Indian companies more flexibility in managing international joint ventures JVs and wholly-owned subsidiaries.

I Listed companies will be allowed to write off 25 per cent capital,. The government announced the setting up of a special wing Directorate of Income Tax Criminal Investigation - to investigate criminal offences under direct tax laws recently.

Which of the following is not among the five-fold strategy adopted by the government to tackle the menace of illicit funds? Direct tax collections account for what share of GDP in India? The government has increased the duty - free import quota for garments from which neighbouring country by two million pieces to 10 million recently? The National Broadband Plan is aimed at rolling out. What is the interest rate in on fresh loans for farmers who have repaid their previous short - term loans on time?

Which of the following indexes was coined by economist Arthur Okun? Which of the following have been disallowed from opening branches abroad by the RBI recently? Which of the following is the power excahnge being set up by NPTC? Which was India's best performing state during in terms of productivity of the organised manufacturng sector, according to a RBI sponsored study unveiled recently? What was the insurance penetration percentage of insurance premium to Gross Domestic Product in India in according to figures released by the Finance Ministry in August ?

Indian - mining companies have bid for a stake in Hajigak India and ir Lanka signed a MoU to develop the The establishment of Serious Fraud Investigation Office to tackle white collar crimes is based on the recommendations of: Venkateswarlu committee 3 Jaydeep N.

Shah committee 4 Nilesh S. Vikamsey committee A draft policy on foreign direct investment FDI in multi-brand retail was unveiled by a committee of secretaries CoS in July The government approved the acquisition of Commercial and International Bank Ltd. What is the base year of the new series of Consumer Price Indices CPI for rural, urban and combined introduced by the govenment in January, ? Which of the following was imposed a penalty of Rs. Use of the which of the following softwares in reporting financial results of companies was made compulsory by the government recently?

What is the minimum time of operation an insurance company is required to launch an initial public offer IPO? The Finance Ministry recently unveiled the structure of the infrastructure debt funds IDFs proposed in Budget According to the new rules an investor whose shareholding in a company exceeds a certain limit will have to make an open offer to acquire a further The European Union has decided to lift restrictions on India's export of which of the following passing through European ports?

What is India's Per Capita Income at current prices in ? The M. Damodaran committee on customer services by banks has suggested sweeping changes in banking practices in its report submitted to the Reserve Bank of India RBI in August The Standing Committee on Petroleum and Natural Gas in its report submitted on August 3, has called for an end to sale of subsidised domestic cooking gas LPG for people with income of more than Only 1. Canara Bank b. Central Bank of India. A major Public Sector Bank raised interest rates on loans by 25 basis pointswas news in some major financial newspapers recently.

The Finance Minister of India in one of his press conferences said that inflationary pressure is likely to continue following recent increase in rates of some commodities in international markets. Which of the following commodities was he referring to as it gets frequent increase at international levels and disturbs our Home Economy substantially? Immediately prior to change in the measure of Food Inflation, which of the following indexes was being used for measuring it? What is the full form of 'FINO' a term we see frequently in financial newspapers?

Fertilizer 2. Kerosene 3. E All 1, 2 and 3 Ans: The Finance Minister of India recently decided to review the position of 'Bad Debts' in priority sector. Bad Debt in agriculture is still rising substantially every year despite special treatment to it. Bad Debt in other areas of priority sector is almost nil now, 3. Which amongst the following countries is not a member of the. TAPI pipe line project, which was in news recently? An agreement on Arms Reduction popularly known as 'START' is one of the major issues in the way of smooth relations between which of the following two countries?

Persons from Enforced Disappearance' , which came into effect recently? Which is the fifth nation included in it? The process of acquisition of agricultural land and its compensation to farmers recently came up as a major issue in which of the following states? Who amongst the following has been appointed as the new coach of the Indian Cricket team for a period of two years?

Why was Kanishtha Dhankhars name in news recently? Banks and other financial institutions in India are required to maintain a certain amount of liquid assets like cash, precious metals and other short term securities as a reserve all the time.

Which of the following Space agencies recently launched three satellites and placed them into Polar Sun Synchronous Orbit. As per the decision taken by the Govt. What does it really mean? Bamboo, henceforth will be treated as a minor forest produce only. Now villagers are free to sell bamboo in their community forest areas. Gramsabha is given right to issue transport passes to legally transport the produce.

Union Cabinet recently passed a Rs. E Krishna Ans: Which of the following schemes is not launched by the Ministry of Rural Development, Govt.

IBPS CWE 2012

Where you are likely to find an embedded operating system? An online discussion group that allows direct 'live' communication is known as A Webcrawler B chat group C regional service provider D hyperlink E e-mail Ans: Which of the following is a program that uses a variety of different approaches to identify and eliminate spam?

Connection or link to other documents or Web Pages that contain related information is called A dial-up. B electronic commerce C hyperlink D e-cash E domain name Ans: Which of the following is a programming language for creating special programs like applets? The system unit A coordinates input and output devices B is the container that houses electronic components C is a combination of hardware and software D controls and manipulates data E does the arithmetic operations Ans: System software A allows the user to diagnose and troubleshoot the device B is a programming language C is part of a productivity suit D is an optional form of software.

E helps the computer manage internal resources Ans: Computer and communication technologies, such as communication links to the Internet that provide help and understanding to the end user is known as A presentation file B information technology C program D worksheet file E FTP Ans: Which of the following is contained on chips connected to the system board and is a holding area for data instructions and information?

Microsoft's Messenger allows users to A to bypass a browser to surf the Web B create a blog C communicate via direct live communication D identify and eliminate spam. E make graphic presentations Ans: Portable computer, also known as laptop computer, weighing between 4 and 10 pounds is called A general-purpose application B Internet C scanner D printer E notebook computer Ans: Which of the following is billionth of a second?

Online Marketing is the function of which of the following? Market driven strategies include A Identifying problems 8 Planning marketing tactics of peers C Positioning the Organisation and its brands in the market place D Internal marketing E Selling old products Ans: As per the existing norms and policies of the RBI, Banks are required to advance how much of their total advances to priority sectors?

Which of the following was the mutual fund listed on the newly launched mutual fund platform on National Stock Exchange? Bank of Baroda Mutual Fund Answer: Which of the following cannot be called as debt instrument as. Asian Development Bank C. When was the "Self Help Group" bank linkage programme started? While returning cheques, the uniforms regulations and rules for bankers clearing houses expect the banks that the returning memo sent by banks to the collecting banks: The RBI on July 5, extended the RBI has introduced a new series of 'star' bank note, which will be issued in denominations of?

Recently which bank has successfully completed years? Punjab National bank B. Central Bank of India C. Bank of India D. State Bank of India Answer: Rights, in all probability, the hoarding is put up by A.

Union Public Service Commission B. Ministry of Foreign Affairs C. National Human Rights Commission D. National Commission for Farmers Answer: Shyam Saran B.

Vijay Nambiar C. Shashi Tharoor D. Rangarajan Answer: Muhammad Yunus the recipient of the Nobel Peace Prize is the exponent of which of the following concepts in the field of banking? Core Banking B. Micro Credit C.

Retail Banking D. Internet Banking Answer: What is basis point? Ten per cent of one hundredth point B. Ten per cent of Answer: Which of the following awards is not given for excellence in the field of literature? Arjun Award B. Bharatiya Gnanpith Award C. Nobel Prize D.

Booker Prize Answer: Who is the author of the book Future Shock? Kenneth Blanchard B. Napoleon Hill C. Tom Peters D. Alvin Toffler Answer: The market in which long term securities such as stocks and bonds are bought and sold is commonly known as A. Capital Market. Bull Market C. Commodities Exchange D. Bullion Market Answer: The Tarapore committee report is concerned with which of the following:: SBI B. RBI C. SEZ D. The per-capita income in India is estimated by?

Central statistical organization B. Central bank D. Census commission Answer: Which of the following is not a bank or finance company? Barclays B. BNP Paribas C. Lufthansa D. HSBC Answer: The J. Nehru Centre for Advanced Scientific Research was recently in the news because of: Ist nano-technology lab in India C.

Karvar, Sasan, Akaltara, Mudra and Ratnagiri are the sites proposed for: Only 1 B. Only 2 C. Only 3 D. All Answer: Federal Reserves is the Central Bank of A. China B. Canada C. Japan Answer: Which of the following companies of Indian origin has been placed amongst the World's seven Best Firms in Financial Sector?

Bajaj Capitals D. Dmitri Medvedav B. Manmohan singh C. Jacob Zuma D. Dilma Raussef Answer: Financial market department was setup in RBI in? July B. July C. August D. August Answer: This piece of information may give you some insight into how women deal with money. The Reserve Bank of India, in a survey, has found that they use their debit cards less frequently. What one could deduce from this finding is that women prefer to use credit cards for shopping to avail themselves of the day credit period.

But when it comes to hard cash for daily needs, it is the hubby who swipes the debit card at an ATM. Women may be smarter when it comes to money matters. The day free credit period that comes with shopping with a credit card is an irresistible attraction, said Mr Sanjay Sharma, Managing Director IDBI Intech, a banking and financial service technology provider. The number of debit and credit cards outstanding as at September-end was 25 crore and 1.

Some of the other findings of the RBI's survey to assess customer satisfaction in the usage of ATMs across the country are: The survey covered ATMs distributed proportionately over metro, urban, semi-urban and rural regions, constituting one per cent of the total number of 60, ATMs in the country. While a good number of people generally state that they prefer to have their accounts in state-run banks, citing safety as the most important criteria, the banking regulator's findings reveal that customer service complaints against public sector banks have risen in as compared to those against private sector and foreign banks.

Customer satisfaction is an integral element in inculcating trust among the common people on the banking sector,' states the Report on Trend and Progress of Banking in India Understanding the importance of customer service in banking, the RBI set up a separate customer service department in as also Banking Ombudsman BO offices in 15 major banking centres.

The BO has since proved to be a forum for redressing complaints received from customers. According to the latest Trend and Progress report, the number of complaints received by the banking ombudsman has dipped in to 71, from 79, in The decline in complaints has been more visible in the BO offices in Chennai, where it fell from 12, in to 7, in , in New Delhi from 12, to 10, and in Mumbai from 10, to 7, In the midst of this declining trend, Bhopal, Patna, Ahmedabad, Chandigarh and Guwahati reported an increase in the number of complaints.

The report further points out that the number of complaints per branch was high for foreign banks at The second largest number of complaints was with regard to pension followed by loans and advances. More than 90 per cent of the total complaints relating to Direct Selling Agents DSA were received against foreign banks and new private banks in and 50 per cent of the total complaints related to hidden charges.

Such complaints were found to be relatively less in public sector banks. Pension-related complaints were instead quite high, accounting for almost 95 per cent of the total complaints, in public sector banks. Damodaran, to examine banking services rendered to retail and small customers, including pensioners in The Committee was also mandated to look into the grievance redressal mechanism prevalent in banks, suggest measures for. The committee interacted with various stakeholders on all aspects of customer service, including attitude of bank staff towards small and rural customers, service charges, transparency in operations, grievance redressal, customer rights and expectations, among others.

Regional rural banks see healthy growth in saving bank deposits November 15, It looks like people in rural areas put more money in savings bank SB deposits than in term deposits. This was visible in 82 regional rural banks RRBs , which saw SB deposits rise by nearly Rs 15, crore and term deposits by around Rs 4, crore in Also, current account deposits were up by around Rs 1, crore. The CASA current account savings account deposits constituted almost 60 per cent of the total deposits.

The vast rural presence and small-ticket deposits helped boost CASA. While agriculture credit constituted nearly 55 per cent of the total credit. The crop loan alone was around 40 per cent of the total credit. In all, priority sector lending was The credit-deposit ratio, which was The growth in net profit was mainly because of a nearly 30 per cent decline in provisions and contingencies during the period. The provisions and contingencies decreased to Rs crore Rs 1, crore during the period.

On the income side, the interest income stood at Rs 15, crore Rs 12, crore , recording a growth of On the expenditure side, the wage bill saw a jump of The migration of banking operations to core banking solution CBS gained pace, and 65 of the 82 RRBs implemented them by the end of September State Bank of India and ICICI Bank appropriated to themselves the credit of running the most extensive global networks from among the country's public and private sector banks.

Bank of Baroda followed with Together, these two accounted for 51 per cent of total foreign offices of banks. SBI also undertook the largest expansion of foreign operations by opening five new offices abroad during the year under reference.

The number of foreign banks operating here is 38 34 a year ago. The number of branches too rose to Another 47 45 banks had representative offices.

Besides, Sumitomo Mitsui Banking Corporation was allowed to open a representative office. Foreign operations of Indian banks expanded to a network of offices as compared with offices in the previous year. Which of the following countries is not a member of G-8? Which of the following is a Public sector bank?

Which of the following committees is associated with the microfinance institutions MFIs? Srikrishna 2 Kirit Parikh 3 Rangarajan 4 Y.

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Malegam 5 Bimal Jalan 4. Sinha is the Chairman of which of the following regulators? Who became the first Indian author to win the Man Booker Prize in ? Which of the following cups is associated with Lawn Tennis? The banking Ombudsman sche-me was formulated by the Reserve bank of India to provide an expeditious redressal.

When did this scheme beco-me operational? Which of the following is the pu-nchline of the Bank of Baroda? The Lok Sabha passed a Bill recently to change the name of which of the following states?

Ollanta Humala, who previously served as an army officer, beca-me the President of which of the following countries in July ? Pauline Nyiramasuhuko became the first-ever woman to be found guilty of genocide by an international tribunal.

She was a former minister for women's em-powerment of which of the following countries? Which country recently opened the world's longest sea bridge Which Indian shuttler won the title at the Maldives International badminton challenge held in Male, Maldives in June ? Tulasi 3 P. Sindhu 4 Gutta Jwala 5 Ashwini Ponappa In which spo-rting event did she win the gold medal?

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The Karpoor Chandra Kulish International Award is given for excellence in which of the following fields? He is the chairman of which of the following airlines?

Broken Republic is a book about the Maoist guerrilla movement in the forests of central India. Who is the author? Yingluck Shinawatra is the first woman Prime Minister of which of the following countries? Where is the headquarters of the IOB? Which country has decided to phase out nuclear power by after the Japan disaster shook pu-blic confidence in the Industry? The Reserve Bank of India has directed banks to reimburse customers for amounts wrongfully debited from their accounts in failed ATM transactions within how many days of an account holder's complaint?

With effect from July 1, 1 7 2 10 3 12 4 15 5 30 Who won the U. Sepp Blatter was re-elected as the President of which of the following sports governing bodies in May ? The concessional rate of interest which is lower than the normal bank rate of interest is called? Which scheme seeks to improve the conditions of the urban slum dwellers living below the poverty line that do not possess. Who is the author of the book 'My Country, My Life'? Advani 5 None of these Oscar awards are given annually in which of the following fields?

Which of the following banks' mascot is the DOLLe dolphin? In which field is Pritzker Prize given? Newby 2 J. Farrell 3 V. Identify the agency.

SEBI b. IRDA c. TRAI d. Name the non-finance company. Tata Steel b. Pantallons Retail c. RIL d. Yuvraj Singh b. Zaheer Khan c. Munaf Patel d. Who is heading the committee? NFR is basically a system of reporting by organizations on their activities in this context, especially as regards the triple bottom line, that is, the environmental, social and economic accounting. Banks have been directed to start; non-financial reporting will help to audit their initiatives towards the corporate social responsibility CSR.

Such a reporting will cover the work done by the banks towards the social, economic and environmental better-ment of society. Universal Banking Universal Banking refers to those services offered by banks beyond traditional banking service such as saving accounts and loans and includes Pension Funds Manage-ment, undertaking equipment leas-ing, hire download business and factoring services, Primary Dealer-ship PD business, insurance busi-ness and mutual fund business.

The issue of universal banking came to limelight in , when ICICI gave a presentation to RBI to discuss the time frame and possible options for transforming itself into an univer-sal bank. Later on RBI asked financial institutions which are interested to convert them into a universal bank, to submit their plans for transition to a universal bank for consideration and further discussions.

FIs need to for-mulate a road map for the transition path and strategy for smooth con-version into an universal bank over a specified time frame. The plan should specifically provide for full com-pliance with prudential norms as applicable to banks over the pro-posed period.

Though the DFIs would continue to have a special role in the Indian financial System, until the debt market demonstrates substantial improvements in terms of liquidity and depth, any DFI, which wishes to do so, should have the option to transform into bank which it can exercise , provided the prudential norms as applicable to banks are fully satisfied.

To this end, a DFI would need to prepare a transition path in order to fully comply with the regula-tory requirement of a bank. Reserve Bank will consider such requests on a case by case basis. Thus, Indian financial structure is slowly evolving towards a conti-nuum of institutions rather than discrete specialization.

Conclusion The applicability of various existing laws and banking practices to e-banking is not tested and is still evolving, both in India and abroad. With rapid changes in technology and innovation in the field of e-banking, there is a need for constant review of different laws relating to banking and commerce.

A re-orientation of strategy is required in order to accommodate the changes and challenges of the present globa-lised scenario. Technological developments may become threat but still enable banks to access the global market through the electronic networks. IT usage by banks would continue to exist in substantial scales. Indian Banking is trying to embrace latest technology upgrading its services. Clientele are reveling sophisticated services specific needs, preferences and conveniences by the banks.

Financial Literacy in India The Essence of Money We all acknowledge the fact that money is essential for sheer existence and survival yet tend to escape from learning how to manage money. Managing money means the ability to judiciously save and multiply the money earned, through an informed understanding of the financial pro-ducts and services available.

It is also the question of avoiding risks and being protected from falling prey to unscrupulous elements. In my opinion the single most critical factor in effective money management is to stay away from greed.

Greed for making quick money often restricts the power to think and take appro-priate decisions. Greed and lust for easy money overpowers application of mind and the capacity to think sanely. We ignore the fact that money invested legally and ethically can hardly ever give returns which are disproportionate with respect to pre-vailing market conditions.

Yet regu-larly we hear of people losing their hard earned money by succumbing to fraudulent schemes which promise attractive returns or trusting someone who tempts them with windfall gains. Our indulgence in fancy schemes and faith in promoters whose credentials are not verified arises due to lack of adequate knowledge and the ability to think rationally. Money lost is difficult to retrieve; though checks and balances are there it is only the well informed who can pursue his case by approaching the respective authorities for redressal.

We need to respect money for its value and its significance for sheer survival.

Financial literacy is therefore crucial for the well being of an individual from any section of society. What is Financial Literacy? It is not logical to assume that all educated individuals are financially literate and the less educated are weak.

In fact the converse could be true. What then is financial literacy? There are different financial products and ser-vices available which cater to differ-ent needs and requirements.

Under-standing these products and services and choosing according to the wants is what constitutes the right approach.

These wants differ from individual to individual and even during the life span of a person the wants keep changing. The requirements are linked to the risk taking capacity as the element of safety is crucial in an individuals life. It is better to stay away from complex products and services if the knowledge levels are low as safeguarding of money is more impor-tant than taking unwanted risks.

With the spread of technology and opening of the economy it has become even more important to select the appro-priate product after due diligence. Though technology has made ser-vices swifter and efficient it has also introduced many 10 hazards. A thorough understanding of the safe-guards in the technology process is all the more essential to avoid being a victim of fraudulent transactions.

To appreciate the significance and relevance of financial literacy for sound money management it may be worthwhile to capture a few illustra-tions. Rather than withdrawing money which may not be immediately required for a week at least it would be profitable if the same amount remains with the bank as it would continue to earn interest for the account holder. Better still the surplus funds in a savings account could be transferred to a fixed deposit account which would give higher interest.

At times these papers are signed in blank without even bothering to understand the significance of the loan contract. Loan means having to fulfil many obligations by the bor-rower till it is cleared and pleading ignorance later does not help.

In case of default the assets can be seized by the lender and the borrower has no scope to protect the asset without clearing the dues. This strengthens the lender in case the borrower defaults. How many really know that the guarantor is liable to pay if the borrower does not repay the dues. There are many instances where the guarantors regretted signing the documents and protested when they were asked to clear the loan.

Such 11 protests citing ignorance or lack of knowledge are of no use later. Moreover service tax is also levied on the interest amount.

Higher the interest amount higher the service tax becomes payable. It is quite logical for certain persons to be tempted to invest their funds in these schemes for the additional interest amount. What is of prime importance is to study thoroughly the back-ground and strength of the company before investing as the repayment of the deposit on maturity is not guaran-teed. There are so many examples where the companies have not retur-ned the money on maturity for various reasons.

Some have even disappeared from the market after mobilizing substantial money. Ima-gine the poor person of meager means having to suffer the loss of money as he deposited in good faith but without full knowledge. How many of us really bother to understand the security features of currency notes to identify forged notes and take preventive action.

The desired know how can stop the fraudulent use of illegal money and prevent undesirable con-sequences. RBIs campaign Paisa Bolta Hai is an excellent audiovisual presentation on the measures to check the authenticity of a currency note.

Despite the constant educa-tion it is often seen that card 12 users are asking total strangers at ATM centres and elsewhere how to operate their cards. The fact that they are inviting trouble is overlooked for the sake of momentary help. Little do we realize that knowledge can prevent many untoward happenings? The type of policy is also not properly understood as to the type of risk cover it is providing.

Unfor-tunately the insurance agent is at times not fully educated himself or avoids suggesting the right policy for making higher commission payouts. This enables the downloader to study carefully the features of the policy and compare it with his actual need. Very few really know about this facility which again demonstrates the need to be aware and vigilant. Very few make their own independent studies but merely rely on hearsay.

The results are obvious as a few lucky ones may make some money without adequate knowledge but the large majority suffer loses.

There is also the ASBA facility for subscribing to new issues without blocking ones funds but very few take advantage of it. SEBI has tried to popularize this facility in many ways through advertisement campaigns and it is for the investor to gain from it.

Once again the informed person only benefits. Yet it is a matter of debate as to how many can differentiate between equity or debt funds or even hybrid varieties. The investment is not linked to the risk taking 13 capacity of the investor and his financial priorities. Often the investor is not aware whether his holdings in the fund belong to the growth or dividend option. The above examples relate to very basic transactions but convey the significance of possessing sound knowledge for prudent decision making.

Absence of financial literacy can truly damage substantially the interests of the persons concerned. It is difficult to escape for any age group as money is needed by all. The Spread of Financial Literacy It is better to start early with the process of financial education as discipline in money matters is an important characteristic of an indivi-dual. Children should be taught the benefits of saving and introducing the age old concepts of having a piggy bank can be a welcome start.

Schools need to inculcate these habits in students and gradually introduce them to the basics of personal finance. A beginning has already been made by introducing subjects on basic finance in the school curriculum at certain centres. Reserve Bank of India is promoting this early education of children by adopting a friendly and entertaining way through the medium of comics.

They are also encouraging the young to participate in contests, the winners of which are awarded scholarships. It is the vulnerable sections of society like women, senior citizens, the rural and urban poor who need to be adequately educated and equipped. Their website is a store house of knowledge provided there is an urge to learn.

The individual has to be proactive and be eager to grasp the necessary knowledge to safeguard himself and thereby his money. RBI is making extra efforts to be as trans-parent as possible in the larger interest of the 14 common citizen by reaching out to them through their out reach programmes. These pro-grammes which were held during the 75th year of RBI in in far corners of the country were primarily to educate the masses about the activi-ties of RBI and how to utilize the available banking services for their betterment.

Most banks also have their finan-cial literacy departments and credit counseling centres where personal problems are addressed. How much of these centres are successes is deba-table because a very small percentage of people know about these facilities and even if they know there is an inherent hesitation to seek their help. The websites of banks and financial institutions also have all the details about their products and services.

In case of doubts it is advisable to refer to these portals to avoid making any wrong or improper decision. The concern is that incomplete or half baked knowledge is not used to take decisions which are repented later.

While their primary focus remains on customer service they are also par-ticipating in disseminating informa-tion on different aspects of banking. For an effective literacy campaign it is important that information asym-metry between service provider and customer is reduced. In this connec-tion banks have unilaterally under-taken to comply with a Code of Commitment to Customers detailing the nature of services provided by banks, the normal time taken for rendering these services and the various obligations of banks who have signed these codes.

Only when there is awareness can the customers use the code to their benefit. It is for the individual to take advantage of the provisions provided there 15 is will-ingness to learn. BCSBI also publishes a quarterly newsletter which is both informative and educative. The importance of promoting financial literacy and the enormity of the task is being gradually under-stood.

This has made many organi-zations enter this field to make their presence felt. Innovative ways have been adopted to keep the literacy efforts simple and user friendly for maximum benefit. Websites, print media and audio visual communi-cations relating to financial education are easily accessible for the average individual to improve his under-standing of the financial market, its products and services.

National dailies, banks, financial institutions, private organisations are individually contributing through easy to understand pamphlets, comic strips, newsletters etc. Seminars, conferences, inter-active sessions are often arranged to address issues of common concern and dissemination of information.

Spreading of information and awareness is critical for an emerging economy like India. If the vast popu-lation of deprived people is brought into the mainstream it would be of immense benefit both as a social necessity as well as an economic push.

The call for financial inclusion in the country has therefore become an immediate priority and is engag-ing the attention of policy makers for effective execution.

It would reap dividends only when the targeted people are financial literate. Only then would they be able to make the most appropriate choice of the pro-ducts and services which would improve their position.

The vast majority of our people are extremely vulnerable as they depend upon informal sources of finance for meet-ing their needs. Only by empowering them with the adequate knowledge can we hope to improve their lot and that of 16 the economy as a whole.

The penetration of banking and insurance services is extremely poor in India and if the coverage is extended by simultaneous spreading of financial literacy it would be a huge progress for overall growth. The formal channels of money transmission has to be introduced for all round benefit as for far too long the poor, gullible people have suffered at the hands of the money lender and his brethren.

There is no running away from this hard fact for which the financial service providers are also being trained to encourage the dissemi-nation of information in as compre-hensive a way as possible.

However it is the individual as the consumer who needs to grasp and absorb the knowledge for his betterment and safety. Money creation through the legi-timate way is hard and painstaking but can be lost in no time if there is improper financial planning. Finan-cial awareness is a critical component in the process of protecting and enlarging the corpus of funds that an individual may have. This year we have decided to devote a special chapter on the topic of financing of climate change in the Economic Survey, Mr Basu said while addressing a UNDP event.

Gopalan, said that the climate change issue is posing a challenge for the world. The challenges are both environmental and developmental. Addressing climate change is a challenge for all humanity and it is in our interest that the world community address the issue effectively, Mr Gopalan said.

He said there is a need to change the way we use natural resources and device new technology to meet the challenges. As per the Economic Survey, Indias total carbon-di-oxide emissions were about 4 per cent of the global emissions. The survey also showed that it cost India 2. Studies show that even with per cent GDP growth every year for the next decade, Indias per-capita emissions will be well below developed countries average. Under the existing Basel-II norms, the Indian banking industry has to maintain total capital drawn from a combination of equity and preference shares plus long-term debt, both accorded lower priority to monies belonging to depositors amounting to 9 per cent of their assets calibrated suitably for riskiness risk-weighted assets' or RWA.

That takes the aggregate capital adequacy ratio CAR to The emphasis is clearly not just on meeting a broadly defined overall CAR of 8 per cent as it was two decades ago , but also on improving the transparency and quality of the capital base. The implementation period for all these is from January 1, to March 31, The rationale behind fashioning a tighter capital especially core equity regulatory regime for banks stems largely from the banking crises that followed the global recession of and also the 19 ongoing European sovereign debt troubles.

These have created renewed concerns over the banking sector's ability to withstand financial shocks and minimise risks of spill-over to the real economy. But implementation will be a huge challenge, with the estimates of fresh capital needed to be raised by all Indian banks ranging anywhere from Rs 1. Given the dominance of public sector banks, it would necessitate large government infusion of funds. Where this money is going to come from, if the Centre would not even be prepared to dilute its stake below 51 per cent, is a huge question mark.

This issue came to the fore not too long back, when Moody's downgraded the State Bank of India's credit rating, after its Tier-1 CAR fell below the Government's own 8 per cent prescription. Related to this is the more immediate problem of rising non-performing assets NPA on account of loans to a host of troubled sectors from telecom and airlines to power.

As these mount under pressure from high interest rates and the general economic slowdown banks would have to find resources to maintain even existing capital adequacy levels.

The RBI, under the circumstances, cannot be totally oblivious to concerns over the proposed implementation schedule for Basel-III, which is seen to be rather frontloaded. Which country's lower house of Parliament is called Wolesi Jirga? Which of the following days is observed as the International Day for Tolerance? Scientists have found the best evidence yet for water just beneath the surface of Europa.

Europa is the icy moon of which of the following planets? To which country does this retailing giant belong? The renovated Advanced Landing Ground ALG of Vijay-nagar, a completely air-mainta-ined and strategically located human settlement, was inaugur-ated recently. In which state is this Vijaynagar airfield located?

In which state is Kalpakkam situated? Venkat Ram Reddy 5 None What is the disinvestment target for the current financial year i. Gloria Macapagal Arroyo was arrested for electoral fraud recently. She was the President of which of the following countries from to ? Sarath Fonseka was sentenced to spend three more years in prison in November He is the former army chief of which of the following countries? Which of the following badmi-nton tournaments was won by Saina Nehwal in the year ?

Guru Saidutt excelled in which of the following sports? Which of the following trains covers the largest rail route in the country 4, km? He was a Minister of State for Communications in which of the following governments? Vajpayee 2 P. Eurasian Union is an economic body designed to reintegrate the former Soviet economies. Which of the following countries is not a member of this new group? He was a renowned player in which of the following sports?

Vajpayee It is celebrating its golden jubilee. Who is its present Chairman? Parija 3 S. Prabakaran 27 4 T.

Ajith 5 None of theses Tipaimukh Dam is a proposed dam on the river Barak in which state of India? Which team was crowned overall champions at the 65th Senior National Aquatic Championships in Ranchi in November ?

Which woman swimmer won 5 gold medals in the 65th Senior National Aquatic Championships held in Ranchi in November ? Which of the following teams won the Presidents Cup golf tournament in November ? Which of the following teams has won both the men's and wo-men's Kabaddi world cup that was held in Ludhiana in Nove-mber ?

Which city will host the Commonwealth Games? Mohammad Zillur Rahman is the President of which of the following countries? Which of the following institut-ions decides the Bank rate?Kalpana Morparia heads the Indian arm of global financial leviathan J. A re-orientation of strategy is required in order to accommodate the changes and challenges of the present globa-lised scenario. This, combined with rebalancing of global portfolios by foreign institutional investors and the tendency of exporters to defer repatriating their export earnings, has led to significant pressure on the rupee.

I Listed companies will be allowed to write off 25 per cent capital,. The introduction of MICR based cheque processinga first for the region, during the years was one of the earliest steps in Indian banking on the march of technology.

TAMMARA from Colorado Springs
I do fancy reading novels reproachfully. Feel free to read my other articles. One of my extra-curricular activities is golf.
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