BANKING IMPORTANT QUESTIONS FOR BANK CLERKS/PO
[18:16, 2/22/2018] +91 89617 34181: Banking Terms☺☺ in Short:
1. What is bank?
What are the types of banks :
A bank is a financial institution
licensed as a receiver of cash deposits.
There are two types of banks, commercial
banks and investment banks.
In most of the countries, banks are regulated by the national government or central bank.
2. What is investment banking : Investment banking manages portfolios of financial
assets, commodity and currency, fixed income, corporate finance, corporate advisory
services for mergers and acquisitions, debt and equity writing etc.
3. What is commercial bank : Commercial bank is owned by the group of individuals or
by a member of Federal Reserve System.
The commercial bank offer services to individuals, they are primarily concerned with receiving deposits and lending to business. Such bank earns money by imposing interest on the loan borrowed by the borrower.
4. What is Saving Account : You can save your money in such account and also earn
interest on it. The number of withdrawal is limited and need to maintain the minimum
amount of balance in the account to remain active.
5. What is ‘Crossed Cheque’ : A crossed cheque indicates the amount should be
deposited into the payees account and cannot be cashed by the bank over the counter.
Here in the image, number#2, you can see two cross-lines on the left side corner of the
cheque that indicates crossed cheque.
6. What is the difference between ‘Cheque’ and ‘Demand draft’ : Both are used for the
transfer of the amount between two accounts of same banks or different bank.
‘Cheque’ is issued by an individual who holds the account in a bank, while ‘Demand
draft’ is issued by the bank on request, and will charge you for the service. Also,
demand draft cannot be cancelled, while cheques can be cancelled once issued.
7. What is ILOC (Irrevocable Letter Of Credit) : It is a letter of credit or a contractual
agreement between financial institute (Bank) and the party to which the letter is
handed. The ILOC letter cannot be cancelled under any circumstance and, guarantees
the payment to the party.
8. What is the difference between bank guarantee and letter of credit : There is not
much difference between bank guarantee and letter of credit as they both take the
liability of payment. A bank guarantee contains more risk for a bank than a letter of
credit as it is protecting both parties the purchaser and seller.
[18:17, 2/22/2018] +91 89617 34181: Banking important questions:-
1). RBI introduced a new framework called, Prompt Corrective Action (PCA) to regulate bank’s – NPA
2). The PCA framework all the banks operating in India except – Regional Rural Banks
3). The PCA framework for banks was started in – 2002
4). The first bank came under PCA framework is – IDBI
5). Till now how many banks came under PCA framework –3
6). Under Prompt Corrective Action (PCA), the banks will be monitored on —–parameter. – Capital, Asset Quality and Profitability parameters.
7). The loan is considered to be a Non Performing Assets once the borrower fails to make interest or principal payments for – 90 days
8). RBI has put some trigger points to assess, monitor, control and take corrective actions on banks which are weak and troubled. The following one is not among them. – Capital Adequacy Ratio (CAR)
9). The total value of Non Performing Assets surged to – Rs 614,872 cr
10). Indian Overseas Bank’s gross NPA ratio is – 22.42%
11). United Bank of India gross NPA ratio is – 15.98%
12). The bank will be closed or merged with other banks if the capital ratio falls below – 3.625%
National Payment Corporation of India and its Products
13). In which year National Payment Corporation of India (NPCI) was established – 2008
14). NPCI comes under which Act – Companies Act 2013
15). National Payment Corporation of India has ————– core promoter companies. – 10
16). Who is CEO& MD of National Payment Corporation of India – A. P. Hota
17). The paid up capital of NPCI is increased from 100Cr to – 137 Cr
18). The authorized Capital of NPCI is – 300 cr
19). The Headquarters of National Payments Corporation of India is – Mumbai
20). List out the NPCI Products – NFS, BHIM, UPI, IMPS, NACH, AEPS, RuPAY, BBPS and CTS
21). NPCI introduced Bharat Interface for Money (BHIM) in – 30th December 2016
22). What does S stands for in AEPS – System
23). What details does the customer need for an AEPS transaction – Aadhaar Number, Biometric and IIN
24). Institution Identification Number has —————— digits – 6
25). Which banking services can the customer avail usingAEPS – Cash Withdrawal, Cash Deposit , Balance Enquiry , Fund Transfer
26). What does B stands for in APB – Bridge
27). —————- launched India’s first RuPay ATM & Micro ATM Card with Aadhaar Number – Bank of India
28). Bharat Interface for Money (BHIM) App supports —— languages – 12
29). Bharat Interface for Money app developed by NPCI based on – UPI
30). In BHIM app for a single transaction, the maximum limit is Rs – 10,000
31). In BHIM app, daily transaction limit would not exceed Rs – 20,000
32). Immediate Payment Service (IMPS) facility is provided by – NPCI
33). What does second M stands for in MMID – Money
34). Mobile Money Identifier (MMID) is a ——- digit number – 7
35). UPI – PIN has maximum ——– number of digits – 6
36). UPI uses ———–, which uniquely identifies a respective bank account – Virtual Payment Address
37). In UPI we can transfer maximum Rs – 1,00000
38). The term ————— is used for Requesting money in UPI – PULL
39). The term ————— is used for sending money in UPI – PUSH
40). What does S stands for in QSAM – Service
41). When using QSAM Service we need to dial – *99*99#
42). What does S stands for in BBPS – System
Regulatory Bodies in India
43). In India Capital Market is Regulated by – SEBI
44). Who is responsible to appoint the Chairman for SEBI – GOI
45). In which year Government of India established Securities and Exchange Board of India – 1988
46). Insurance Regulatory and Development Authority (IRDA) of India was established in – 1999
47). Who is the Chairman for Insurance Regulatory and Development Authority of India – TS VIjayan
48). Head Quarters of IRDA is – Hyderabad
49). In India Commodity Market is regulated by – SEBI
50). Public health & Food Safety is regulated by – FSSAI
51). Head quarters of Food Safety and Standards Authority of India is – New Delhi
52). Who is the Chairman for FSSAI – AshishBahuguna
53). Head quarters of Bureau of Indian Standards (BIS) is – New Delhi
54). Bureau of Indian Standards was established in – 1986
55). Director General of Bureau of Indian Standards is – Alka Panda
56). In India Chit Funds are regulated by – Respective State Governments
57). Who is the regulator of Foreign Exchange (Forex Market) in India – RBI
58). In India Nidhi Companies are regulated by – Ministry of corporate affairs
59). Who is the chairman of Pension Fund Regulatory and Development Authority (PFRDA) of India – Hemant Contractor
60). Headquarters of Pension Fund Regulatory and Development Authority of India is – New Delhi
61). In which year Pension Fund Regulatory and Development Authority of India started by GOI – 2003
62). Headquarters of Small Industries Development Bank (SIDBI) of India is – Lucknow
63). Small Industries Development Bank of India was established in – 1990
64). Who is the Chairmen of SIDBI – KshatrapatiShivaji
65). In which year Telecom Regulatory Authority of India (TRAI) was established in – 1997
66). In which city Telecom Regulatory authority of India (TRAI) is headquartered – New Delhi
67). In India Security Exchange Board of India regulates – Merchant Banking companies, Venture Capital Fund, Algorithmic Trading , Credit Rating agencies
68). In which city Advertising Standards Council of India (ASCI) headquartered – Mumbai
69). Who is the Chairman of Financial Stability and Development Council (FSDC) – The Union Finance Minister of India
70). In which year FSDC established in India – 2010
71). Institute of Chartered Accounts in India (ICAI) is headquartered in – New Delhi
72). In which year Export Credit Guarantee Corporation of India (ECGC) was established – 1957
73). Headquarters of ECGC is – Mumbai
74). Currently Indian Banks’ Association (IBA) represents ——– Banking Companies operating in India. – 237
75). Who is the regulator of Micro-Finance Regulatory Authority in India – NABARD
76). The initial corpus of NABARD is ——Cr – 100
77). National Association of Software and Services Companies (NASSCOM) was established in –1988
Reserve Bank of India and Bank Related Act’s
78). Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the —— act. – Reserve Bank of India Act, 1934
79). RBI was nationalized on – 1949
80). RBI has ——– regional offices. – 19
81). RBI can have atmost —— deputy governors at any time. – 4
82). When RBI was established, it has headquarters in – Kolkata
83). In RBI Act 1934, the business banks can carry out is defined under – Section 21
84). In RBI Act 1934,RBI has sole rights to issue currency notes and it comes under – Section 22
85). Headquarters of RBI shifted from Calcutta to Mumbai in – 1937
86). Government of India has a sole right to print Rs 1 note or mint coins under – Coinage Act, 2011
87). Cash Reserve Ratio comes under section —— of RBI Act 1934. – 42
88). Money market instruments and Securities are defined under which section of RBI Act, 1934 – 45U
89). In RBI Act 1934 section 26 (2) defines ——- of bank notes. – Withdrawal of legal tender
90). Procedure for merger of banking companies is defined under section __ of Banking Regulation Act, 1949. – 44
91). Small Finance banks gets license under section ——-of Banking Regulation Act, 1949. – 22
92). Payment banks gets license under section —- of Banking Regulation Act, 1949.–22
Questions Related to SBI Bank
93). State Bank of India have ——- foreign branches around the world. – 190
94). After merger SBI bank have a deposit base of more than —— lakh crore and advances level of ——lakh crore. – 26 and 18.50
95). The State Bank of India merged with 5 associate banks and BharatiaMahila Bank on April 1, 2017. Which one is not among the list – State Bank of Saurashtra
96). State Bank of India announced a customer should maintain minimum of Rs —– in a Rural Area. – 1000
97). State Bank of India announced a customer should maintain minimum of Rs —– in a Urban Area. – 3000
98). State Bank of India announced a customer should maintain minimum of Rs ——— in a Metro city. – 5000
99). State Bank of India announced a customer should maintain minimum of Rs ——— in a Semi Urban Area. – 2000
100). The Central Government has ——– stake in SBI Bank as of March 2017. – 62.22%
1. What is bank?
What are the types of banks :
A bank is a financial institution
licensed as a receiver of cash deposits.
There are two types of banks, commercial
banks and investment banks.
In most of the countries, banks are regulated by the national government or central bank.
2. What is investment banking : Investment banking manages portfolios of financial
assets, commodity and currency, fixed income, corporate finance, corporate advisory
services for mergers and acquisitions, debt and equity writing etc.
3. What is commercial bank : Commercial bank is owned by the group of individuals or
by a member of Federal Reserve System.
The commercial bank offer services to individuals, they are primarily concerned with receiving deposits and lending to business. Such bank earns money by imposing interest on the loan borrowed by the borrower.
4. What is Saving Account : You can save your money in such account and also earn
interest on it. The number of withdrawal is limited and need to maintain the minimum
amount of balance in the account to remain active.
5. What is ‘Crossed Cheque’ : A crossed cheque indicates the amount should be
deposited into the payees account and cannot be cashed by the bank over the counter.
Here in the image, number#2, you can see two cross-lines on the left side corner of the
cheque that indicates crossed cheque.
6. What is the difference between ‘Cheque’ and ‘Demand draft’ : Both are used for the
transfer of the amount between two accounts of same banks or different bank.
‘Cheque’ is issued by an individual who holds the account in a bank, while ‘Demand
draft’ is issued by the bank on request, and will charge you for the service. Also,
demand draft cannot be cancelled, while cheques can be cancelled once issued.
7. What is ILOC (Irrevocable Letter Of Credit) : It is a letter of credit or a contractual
agreement between financial institute (Bank) and the party to which the letter is
handed. The ILOC letter cannot be cancelled under any circumstance and, guarantees
the payment to the party.
8. What is the difference between bank guarantee and letter of credit : There is not
much difference between bank guarantee and letter of credit as they both take the
liability of payment. A bank guarantee contains more risk for a bank than a letter of
credit as it is protecting both parties the purchaser and seller.
[18:17, 2/22/2018] +91 89617 34181: Banking important questions:-
1). RBI introduced a new framework called, Prompt Corrective Action (PCA) to regulate bank’s – NPA
2). The PCA framework all the banks operating in India except – Regional Rural Banks
3). The PCA framework for banks was started in – 2002
4). The first bank came under PCA framework is – IDBI
5). Till now how many banks came under PCA framework –3
6). Under Prompt Corrective Action (PCA), the banks will be monitored on —–parameter. – Capital, Asset Quality and Profitability parameters.
7). The loan is considered to be a Non Performing Assets once the borrower fails to make interest or principal payments for – 90 days
8). RBI has put some trigger points to assess, monitor, control and take corrective actions on banks which are weak and troubled. The following one is not among them. – Capital Adequacy Ratio (CAR)
9). The total value of Non Performing Assets surged to – Rs 614,872 cr
10). Indian Overseas Bank’s gross NPA ratio is – 22.42%
11). United Bank of India gross NPA ratio is – 15.98%
12). The bank will be closed or merged with other banks if the capital ratio falls below – 3.625%
National Payment Corporation of India and its Products
13). In which year National Payment Corporation of India (NPCI) was established – 2008
14). NPCI comes under which Act – Companies Act 2013
15). National Payment Corporation of India has ————– core promoter companies. – 10
16). Who is CEO& MD of National Payment Corporation of India – A. P. Hota
17). The paid up capital of NPCI is increased from 100Cr to – 137 Cr
18). The authorized Capital of NPCI is – 300 cr
19). The Headquarters of National Payments Corporation of India is – Mumbai
20). List out the NPCI Products – NFS, BHIM, UPI, IMPS, NACH, AEPS, RuPAY, BBPS and CTS
21). NPCI introduced Bharat Interface for Money (BHIM) in – 30th December 2016
22). What does S stands for in AEPS – System
23). What details does the customer need for an AEPS transaction – Aadhaar Number, Biometric and IIN
24). Institution Identification Number has —————— digits – 6
25). Which banking services can the customer avail usingAEPS – Cash Withdrawal, Cash Deposit , Balance Enquiry , Fund Transfer
26). What does B stands for in APB – Bridge
27). —————- launched India’s first RuPay ATM & Micro ATM Card with Aadhaar Number – Bank of India
28). Bharat Interface for Money (BHIM) App supports —— languages – 12
29). Bharat Interface for Money app developed by NPCI based on – UPI
30). In BHIM app for a single transaction, the maximum limit is Rs – 10,000
31). In BHIM app, daily transaction limit would not exceed Rs – 20,000
32). Immediate Payment Service (IMPS) facility is provided by – NPCI
33). What does second M stands for in MMID – Money
34). Mobile Money Identifier (MMID) is a ——- digit number – 7
35). UPI – PIN has maximum ——– number of digits – 6
36). UPI uses ———–, which uniquely identifies a respective bank account – Virtual Payment Address
37). In UPI we can transfer maximum Rs – 1,00000
38). The term ————— is used for Requesting money in UPI – PULL
39). The term ————— is used for sending money in UPI – PUSH
40). What does S stands for in QSAM – Service
41). When using QSAM Service we need to dial – *99*99#
42). What does S stands for in BBPS – System
Regulatory Bodies in India
43). In India Capital Market is Regulated by – SEBI
44). Who is responsible to appoint the Chairman for SEBI – GOI
45). In which year Government of India established Securities and Exchange Board of India – 1988
46). Insurance Regulatory and Development Authority (IRDA) of India was established in – 1999
47). Who is the Chairman for Insurance Regulatory and Development Authority of India – TS VIjayan
48). Head Quarters of IRDA is – Hyderabad
49). In India Commodity Market is regulated by – SEBI
50). Public health & Food Safety is regulated by – FSSAI
51). Head quarters of Food Safety and Standards Authority of India is – New Delhi
52). Who is the Chairman for FSSAI – AshishBahuguna
53). Head quarters of Bureau of Indian Standards (BIS) is – New Delhi
54). Bureau of Indian Standards was established in – 1986
55). Director General of Bureau of Indian Standards is – Alka Panda
56). In India Chit Funds are regulated by – Respective State Governments
57). Who is the regulator of Foreign Exchange (Forex Market) in India – RBI
58). In India Nidhi Companies are regulated by – Ministry of corporate affairs
59). Who is the chairman of Pension Fund Regulatory and Development Authority (PFRDA) of India – Hemant Contractor
60). Headquarters of Pension Fund Regulatory and Development Authority of India is – New Delhi
61). In which year Pension Fund Regulatory and Development Authority of India started by GOI – 2003
62). Headquarters of Small Industries Development Bank (SIDBI) of India is – Lucknow
63). Small Industries Development Bank of India was established in – 1990
64). Who is the Chairmen of SIDBI – KshatrapatiShivaji
65). In which year Telecom Regulatory Authority of India (TRAI) was established in – 1997
66). In which city Telecom Regulatory authority of India (TRAI) is headquartered – New Delhi
67). In India Security Exchange Board of India regulates – Merchant Banking companies, Venture Capital Fund, Algorithmic Trading , Credit Rating agencies
68). In which city Advertising Standards Council of India (ASCI) headquartered – Mumbai
69). Who is the Chairman of Financial Stability and Development Council (FSDC) – The Union Finance Minister of India
70). In which year FSDC established in India – 2010
71). Institute of Chartered Accounts in India (ICAI) is headquartered in – New Delhi
72). In which year Export Credit Guarantee Corporation of India (ECGC) was established – 1957
73). Headquarters of ECGC is – Mumbai
74). Currently Indian Banks’ Association (IBA) represents ——– Banking Companies operating in India. – 237
75). Who is the regulator of Micro-Finance Regulatory Authority in India – NABARD
76). The initial corpus of NABARD is ——Cr – 100
77). National Association of Software and Services Companies (NASSCOM) was established in –1988
Reserve Bank of India and Bank Related Act’s
78). Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the —— act. – Reserve Bank of India Act, 1934
79). RBI was nationalized on – 1949
80). RBI has ——– regional offices. – 19
81). RBI can have atmost —— deputy governors at any time. – 4
82). When RBI was established, it has headquarters in – Kolkata
83). In RBI Act 1934, the business banks can carry out is defined under – Section 21
84). In RBI Act 1934,RBI has sole rights to issue currency notes and it comes under – Section 22
85). Headquarters of RBI shifted from Calcutta to Mumbai in – 1937
86). Government of India has a sole right to print Rs 1 note or mint coins under – Coinage Act, 2011
87). Cash Reserve Ratio comes under section —— of RBI Act 1934. – 42
88). Money market instruments and Securities are defined under which section of RBI Act, 1934 – 45U
89). In RBI Act 1934 section 26 (2) defines ——- of bank notes. – Withdrawal of legal tender
90). Procedure for merger of banking companies is defined under section __ of Banking Regulation Act, 1949. – 44
91). Small Finance banks gets license under section ——-of Banking Regulation Act, 1949. – 22
92). Payment banks gets license under section —- of Banking Regulation Act, 1949.–22
Questions Related to SBI Bank
93). State Bank of India have ——- foreign branches around the world. – 190
94). After merger SBI bank have a deposit base of more than —— lakh crore and advances level of ——lakh crore. – 26 and 18.50
95). The State Bank of India merged with 5 associate banks and BharatiaMahila Bank on April 1, 2017. Which one is not among the list – State Bank of Saurashtra
96). State Bank of India announced a customer should maintain minimum of Rs —– in a Rural Area. – 1000
97). State Bank of India announced a customer should maintain minimum of Rs —– in a Urban Area. – 3000
98). State Bank of India announced a customer should maintain minimum of Rs ——— in a Metro city. – 5000
99). State Bank of India announced a customer should maintain minimum of Rs ——— in a Semi Urban Area. – 2000
100). The Central Government has ——– stake in SBI Bank as of March 2017. – 62.22%
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