BANKING AWARENESS

1) As per the notification issued by the banks, the " Third party ATM usage " will now be                    restricted to certain withdrawals and limits only.What does it really mean
 ANS: (a) Customer of one Bank may be able to withdraw only a limited amounts from other banks ATMs.(b) ATM card holders will have to pay a fee if they withdraw money from other banks ATMs frequently. 2) The Reserve Bank of India has directed all the banks to ensure that the names of their customers.Individuals or corporates, donot appear in any list published by the security council committee.this act/directive of the RBI is to ensure which of the following ?ANS: To ensure that money deposited in the bank has not come from unknown and unauthorized sources.3) In case of Personal Loan where there is default in repayment, say for 90 days, the account may be classified as -------- assetANS: Loss4) What is the full form of UNEP, a term frequently seen in news papers?ANS: United Nations Environment Programme5) When in an interest rate swap the floating rate in one currency is exchanged for fixed rate in other currency, it is called:ANS: Coupon Swap6) “CRY” is the name of the organization Which works for the welfare of --------ANS: Children7) The Committee on Financial Sector Assessment(CFSA) set up by the Reserve Bank of India has also recommended several reforms in which of the following laws in India ?ANS: Banking Regulation Laws8) A Bank normally does not have to deal with an issue related to-----ANS: Intellectual Property of rights9) Many times we read in newspapers that some bank has/have to write off certain amount advanced by them.In banking terminology, what does write off mean ?ANS: Bad and uncollectable loan10) Who among the following was the chairperson of the "working Group on Benchmark Prime Lending Rate(BPLR) " constituted by the Reserve Bank of India?ANS: Dr.K.C.Chakrovorty11) The Index of Industrial Production(IIP) is completed and released by which of the following organizations/agencies?ANS: Reserve bank of India12) Many time we read in financial newspapers about public Debt.Which of the following is/are the component of the Public Debt ?ANS: Market Loans, External Loans and Outstanding against Saving Scheme/Provident Fund 13) As Per the Reserve Bank of India the economic condition in India are not yet suitable for full convertibility of Rupee.At present rupee is convertible at which of the following accounts ?ANS: Fully at Current Account14) As per the existing norms and political of the RBI. Banks are required to advance how much of their total advances to priority Sectors ?ANS: 35%15) Which of the following was the First Mutual Fund listed on the newly launched Mutual Fund platform on National Stock Exchange ?ANS: UTI Mutual Fund