ibps po iv 2014 interview magazine exampundit

7/23/2019 IBPS PO IV 2014 Interview Magazine ExamPundit

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Interview

Magazine

for

IBPS PO IV

2 14

Perfect for Upcoming IBPS PO 2014 Interview

Publication Date 24thDec, 2014

Edited by Team ExamPundit
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Interview Preparation

An invitation for an interview shows that, on paper, you are the right person required by the

organisation for the vacant position. In fact, it is estimated that 80% of candidates are rejected at

the application stage so you are really more than three quarters of the way towards getting the job!

Larger organisations will have interviewers who are often personnel professionals, or who are

trained and experienced interviewers, so expect the interview to be very structured to obtain the

maximum from you. In smaller firms you are more likely to be interviewed by a partner who may not

be a trained interviewer. If you are confronted by a 'bad' interviewer you will have to work hard to

use the questions as a means of conveying the points you wish to make. It can be a good idea to try

to steer the conversation towards the topics you have particular strengths in, highlighting your good

points.

There are several different types of interview/questioning techniques: -

The straightforward chronological interview, where you are asked questions around your CV

/ Application form

Criterion referenced interviews, where you will be asked to give examples of how you meet

their criteria e.g., examples of teamwork, negotiating, leadership

The off-the-wall questions where you might be asked some bizarre questions. This is to see if

you can think on the spot and how creative/logical you are.

The pressurised interview where your views will be challenged (or even ridiculed) and you

might feel like you are being goaded into an argument. If this happens to you do not lose

your cool, it is to test how you react under extreme pressure and to see if you can hold your

own without starting a fight or being reduced to tears.

Preparation is essential if you want to do well. Have a look at the checklist:

Stage 1 - Preparation

Re-read your resume.

Prepare questions to ask and to be asked

Work out clothes to wear Rehearse interview

Anticipate the obvious questions during the interview

Work out a strategy for dealing with stress

Read vacancy details, employer's literature - what they are and what they want

Know where the interview will take place

Stage 2 - First Impressions Count

Arrive in good time

Make a good entrance

Body language - handshake, posture, eye contact

Smile
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Stage 3 - The Interview

Be yourself

Be honest

Be prepared to talk - but not too much

Don't be afraid to ask for clarification Illustrate your answers with examples

Be ready to sell yourself

Be interesting

Stage 4 - The Final Stage

Know when the interview is over - read employer's body language

Thank him/her for his/her time

Learn from the experience - ask for feedback if necessary

Questions You May Wish To Ask

The Organisation

Major current projects

Future developments

Work

What you would be doing

How long for

Typical projects/timescales

Variety of work

Training

Training offered/possible

Help with professional qualifications

Colleagues

Who would you work with?

Location

Where would you be based?

How much travel/mobility

Questions You Can Prepare For

Tell us about yourself

Why did you choose your degree and what have you gained from it?

What has been your most important achievement in life so far? Why?
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What are your strengths and weaknesses?

Why have you applied for this job?

What do you have to offer us?

What are the current issues in this sector of work?

What experience do you have of working in a team and what role did you play in that team?

Describe a project you have successfully completed.

How would your friends describe you?

Describe a situation you have found difficult. How did you overcome it?

What questions would you like to ask us?

Dressing for an interview

Men and Women

Conservative two-piece business suit (solid dark blue or grey is best)

Conservative long-sleeved shirt/blouse (white is best, pastel is next best)

Clean, polished conservative shoes

Well-groomed hairstyle

Clean, trimmed fingernails

Minimal cologne or perfume

Empty pockets--no bulges or tinkling coins

No gum, candy or cigarettes

Light briefcase or portfolio case

No visible body piercing (nose rings, eyebrow rings, etc.)

Men

Necktie should be silk with a conservative pattern

Dark shoes (black lace-ups are best)

Dark socks (black is best)

Get a haircut; short hair always fares best in interviews

No beards (unless you are interviewing for a job as a lumberjack!)

Mustaches are a possible negative, but if you must, make sure it is neat & trimmed

No rings other than wedding ring or college ring

No earrings (if you normally wear one, take it out)

Women

Always wear a suit with a jacket; no dresses

Shoes with conservative heels

Conservative hosiery at or near skin color (and no runs!)

No purses, small or large; carry a briefcase instead

If you wear nail polish (not required), use clear or a conservative color

Minimal use of makeup (it should not be too noticeable)

No more than one ring on each hand

One set of earrings only
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Basic Questions

Introduce yourself.

This is over and over again the first question in an interview. It's the most complicated one if you're

not all set. Keep in mind, the interviewer does not want to hear about your hobbies. Its time for one-minute gist of your years of experience and skills in the context to the job you are looking forward to

get. Sell your professional self.

Why should we hire you?

Most people answer generally, so you need something substantial to stand out. Give genuine

examples that demonstrate you as the best-suited for the position. Highlight your achievements and

undertakings that are relevant to get the job.

Why do you want this job?

Use this occasion to demonstrate how much you know about the company and, most prominently,

how you fit best. Concentrate on challenges in the job and organization to show your comprehensive

knowledge. Spot out things you have done in past job to take care of the similar issues.

What are your weaknesses?

Answer this question to your benefit. "I would turn my weaknesses into strengths," For example, ifmy weakness is lack of tolerance I would counter it by saying; I have learned particular measures to

make sure I remain composed and considerate." Don't pretend that you do not have a weakness.

Why did you quit your previous job?

Never evaluate your previous company, the boss, or colleagues. You should have a fine perceptive of

the job you're applying to twist this question. You may say that, you really enjoyed various aspects of

your previous job and spotlight on how this new job will give you the chance to contribute

meticulously on areas that are essential for the current position.

Where would you be five years from today?

Don't get swayed away by your five-year plan. You are expected to speak about goals related to the

job. This will reveal that you know the industry, the organization and you are looking forward to

grow here.

Remember the interviewer is trying to find if you can play a positive role in the organization!
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1. What do you know by stale cheque?- When the cheque becomes out of date and cannot be

encashed, it is termed as stale cheque. For example, the validity period of any cheque is three

months and when a cheque dated: 10.01.2012 is presented for payment on 10.01.2013, it is

considered as a stale cheque, since the cheque is more than three months old.

2. What do you mean by post dated cheque?- When the date of the cheque is beyond the date onwhich the cheque is presented for payment, the cheque is considered to be post dated. For

example, when a cheque dated: 10.02.2013 is presented for payment on 10.01.2013, it is

considered to be a post dated cheque.

3. What do you know by current chest? - Currency chests are operated by RBI so that they can

provide good quality currency notes to the public. However, RBI has appointed commercial banks

to open and monitor currency chests on behalf of RBI. The cash kept in currency chests is

considered to be kept in RBI and

4. What is meant by minimum balance to be maintained in the accounts? In the case of

savings bank and current account deposits, the banks stipulates a minimum balance to be

maintained. The minimum balance varies from bank to bank and when the balance in the account

falls below the minimum balance then banks debit the account with some penal charges. Some

banks insist quarterly average minimum balance to be maintained instead of regular minimum

balance to be maintained.

5. What do you mean by tax deduction at source? TDS means tax deducted at source. Banks must

deduct tax from the interest paid on the fixed deposit when the interest paid on fixed deposits

to a customer exceeds Rs. 10000/- during the accounting year. TDS is applicable to fixed deposits

only and is applicable to savings bank deposits.

6. What do you mean by weaker sections? - The following categories are termed as weaker

sections namely - small business enterprises; marginal farmers; artisans/village and cottage

industries for whom loans are granted upto Rs. 50000.00; SGSY beneficiaries; SC/ST

beneficiaries; DIR beneficiaries; SJSRY beneficiaries; SLRS; self help groups and people belonging to

minority community.

7. What do you know by MICR? - MICR means magnetic ink character recognition. Nowadays,

the cheques are issued in MICR formats in metropolitan centres namely; Mumbai, Chennai,

Kolkata, Bangalore etc. The MICR code is readable by a reader sorter computer which helps in

quick sorting of the cheques towards immediate adjustment of the amount to be received and paid

by the banks in the clearing house. MICR code consists of the following namely; the cheque

number, name of the city, name of the bank, name of the branch, account category etc. and bankssimply type the amount of the cheque in the MICR portion using scanners so that the sorter

reader is able to read the entire information in regard to the cheque instantaneously.

8. What do you mean by cheque truncation? - Under cheque truncation, the physical cheque is

replaced by the digital image of the cheque after scanning. Once the cheque is truncated the

physical cheque is cancelled and from the moment of truncation only the digital image has life.

The digital image of the cheque which contains the digital signature of a bank officer as to its

authenticity is processed by all banks and payment is effected. Cheque truncation helps in quick

processing of the cheques drawn even on far away places since there is no necessity to physically

move the cheque from one place to another place.

Banking Interview Questions
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9. What do you mean by ECS?- ECS means electronic clearing service and this facility is used

where a large number of small value payments or receipts are to be made or received. ECS can

be used for either debit transactions or credit transactions. When a company wants to pay

dividends to large number of shareholders, they use ECS credit facility and by debiting the

company's account, the shareholders accounts are credited with the dividend amount

instantaneously. Similarly when an accountholder can use ECS debit facility towards effecting

payment to telephone charges each month.

10. What do you mean by bank assurance? Hither to banks were dealing with acceptance of

deposits and lending loans to the customers apart from undertaking certain ancillary services.

Nowadays banks started selling insurance policies of prominent insurance companies by having

tie up arrangements with such companies and banks earn commission for such transactions.

11. What do you mean by Universal banking? - Universal banking is the concept under which

banks can provide various types of services namely; deposits, loans, safe deposit lockers, safe

custody services, dealing with mutual fund schemes, selling insurance policies, selling gold coins,

dealing with issue of shares and debentures etc. Thus at present banks are becoming like asupermarket for all kinds of financial products and such concept is called as universal banking.

12. What do you mean by Regional Rural Banks? - The Regional Rural Banks are relatively new

banking institutions which were added to the Indian banking scene since October, 1975. The

distinctive feature of a rural bank is that though it is a separate body corporate with perpetual

succession and common seal, it is very closely linked with the commercial bank which has

sponsored the proposal to establish it.

13. What do you mean by National Housing Bank?- National Housing Bank was established under

the National Housing Bank act, 1987 as an apex body and the key function of National Housing Bank

is the development of the housing sector and it is a wholly owned subsidiary of Reserve Bank ofIndia. National Housing Bank undertakes the following activities namely; promotion and

development of housing finance companies; regulation and supervision of housing finance

companies and providing both direct finance and indirect finance to housing sector.

14. What do you mean by NABARD? - National Bank for agriculture and rural development was

set up in 1982 as an apex development bank in the field of agricultural finance and rural

development. NABARD is set up by the Government for the purpose of facilitating credit flow

for promotion and development agriculture and integrated rural development. It covers

supporting all other allied economic activities in rural areas, promoting sustainable rural

development and ushering in prosperity in the rural areas.

15. What do you mean by EXIM Bank? - Export and Import Bank of India was set up during the

year, 1982 for the purpose of financing, promoting and facilitating foreign trade in the country. It

is wholly owned by the Government of India. The bank apart from enhancing exports from the

country, integrates the country's foreign trade and investment with the overall economic growth.

16. What do you mean by SIDBI? - SIDBI was established for the purpose of assisting and

promoting small scale industry. It was established on 2.4.1990. It is the principal financial

institution established for the promotion, financing and development of industry in the small scale

sector and to coordinate the functions of the institutions engaged in the promotion and financing

or developing industry in the small scale sector.
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17. What do you mean by NBFCs? - Non Banking Finance Companies provide finance for small

ventures but at the same time they are more customer oriented and operate at low volumes

compared to the banks. They also collect deposits from customers and offer slightly higher

interest rates on deposits compared to the banks.

18. What do you mean NEFT and RTGS - The two options namely - national electronic fundstransfer and RTGS - real time gross settlement offered by Reserve Bank of India allow electronic

transfer of funds from the remitter who has an account in one bank to the beneficiary who has

account in any other bank/branch. The transfer can be carried out using the internet banking

facility. The minimum amount that can be transferred by RTGS is Rs. 2.00 lakh and there is no such

limit for transfer through NEFT. It is settled in batches at times defined by the Reserve Bank of India.

RTGS transactions are settled continuously as and when they are put through. The transfer of funds

through NEFT and RTGS can also be carried out by submitting the remittance form at the remitter's

bank branch.

19. What do you mean IFSC code? - IFSC means Indian financial system code. It is a eleven digit

code to identify the bank branch. IFSC code is used while transferring the funds using RTGS andNEFT payments.

20. What do you mean by financial inclusion? In spite of vast growth in the banking system, a large

number of poor people are still not served by any bank. They are living outside the purview of

any bank. Financial inclusion is delivery of financial services at an affordable cost to the vast

population of disadvantaged/low incomes sections of the society

21. What do you mean No frill accounts? No frill accounts are accounts with very low or nil

minimum balance as well as charges to be opened by the banks as targeted by Reserve Bank of

India. KYC norms are relaxed for opening no frill accounts so that people living in rural and semi

urban areas can open the accounts conveniently. Overdrafts upto Rs. 25000.00 are allowed in the nofrill accounts

22. What do you mean by narrow banking? - It is the system of banking under which the bank

accepts deposits from the public and places the funds accepted in 100 percent risk free assets

with maturity matching for its liabilities. The bank takes no risk of lending at all.

23. Who are business facilitators and business correspondents? - RBI has permitted the banks to

use the services of business facilitators and correspondents with effect from 2006. The services of

non-governmental officers, microfinance institutions and civil society organizations can be

utilized by the banks. They help the banks in identifying the borrowers processing their

applications etc. without involving in business transactions. No approval of RBI is necessary.Correspondents will do all the above and will also participate in business transactions in a small way.

24. What do you mean by non performing assets? - Non performing assets means bad loans.

When the principal and interest in the account becomes overdue for more than 90 days, it is

treated as non performing assets. Non performance assets are classified into sub standard assets,

doubtful assets and loss assets. Banks are willing to keep the level of non performance accounts at

the lowest.

25. What do you mean by priority sector advance? - In order to boost development of agriculture

and industries, Government of India has stipulated certain norms under which banks are in a

position to allocate 40 percent of their advances exclusively to certain categories of borrowers

called as priority sector advances. The following are classified into priority sector advances namely


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- retail traders, small business, professional and self employed; agriculture; small scale

industries, self help groups, differential rate of interest and SC/ST beneficiaries

26. What do you mean by merchant banking? - Merchant banking stands for provision of

various services to corporate clients by helping them to access capital market. Merchant

banks help the corporate customers to approach the capital market with initial public offers

for the purpose of collection of capital by way of shares.

27. What do you mean by demat accounts? Demat means dematerialization. During the early days,

shares and debentures certificates were issued in physical form in the form of certificates. At

present, they are issued in electronic form. It is the process by which paper securities are

converted to electronic form so that they can be stored, sold and transferred easily.

28. What is a depository? - A depository holds the securities of the investors in electronic form.

In our country there are two depositories namely; NSDL - National Securities Depositories

Limited promoted by National Stock Exchange and CDSL - Central Depository Services Limitedpromoted by Bombay Stock Exchange.

29. What do you know by consortium financing? When a corporate is in need of huge finance - say

Rs. 200 crores and above, banks join together and extend the loan facilities by sharing the loan

amount between themselves. This reduces the risk for each bank. The banks jointly process the

application of the borrower and sanction the advance and this is called consortium lending.

30. What do you mean by repo rate? - It is the rate at which RBI lends short term funds to the

commercial banks against securities. In order to temporarily expand the money supply, the

central bank decreases repo rates enabling the banks to swap the government securities for cash.

Repo is the abbreviation of Repurchase and to contract the money supply RBI increases the reporates.

31. What do you mean reverse repo ? - The reverse repo rate is the interest rate that banks

receive if they deposit money with the central bank. This reverse repo rate is always lower than the

repo rate. Increases or decreases in the repo and reverse repo rate have an effect on the interest

rate on banking products such as loans, mortgages and savings.

32. What do you mean by CRR? - CRR means Cash Reserve Ratio and as per the stipulations by

Reserve Bank of India, all banks are in a position to maintain a certain percentage of their

deposits (technically called as net demand and time liabilities) in their account with the RBI. CRR

ranges from 5 percent to 15 percent. By increasing CRR by merely 0.25 percent, an amount of Rs.15000 crores of liquid funds can be transferred from the commercial banks to the coffers of RBI.

When CRR is reduced, the liquid funds are transferred from RBI to commercial banks.

33. What do you mean by SLR? - Statutory Liquidity Ratio refers to the stipulation by RBI that

approximately 25 percent of the banks deposits is to be kept in the form of government securities,

gold and cash. Primarily SLR refers to the amount invested by the banks in Government of India

securities. RBI has the right to change the statutory liquidity ratio from time to time. On reduction

of SLR, the availability of funds for the banks moves up and banks tend to more loans to the

common public. In the case of increase in SLR, banks reduce bank lending.

34. What do you mean by PLR? - Prime lending rate is the rate at which commercial banks arewilling to lend to their triple A rated No 1 borrowers. The lending rates by the bank for other


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borrowers whose credit worthiness is low will be more than prime lending rate. RBI has

deregulated the lending rates that are to be charged by the banks for advance above Rs. 2 lakhs.

35. What do you mean by BPLR? - It is the rate at which commercial banks must charge to all

their advances less than Rs. 2 lakhs.

36. Who is a non resident Indian? - Non resident Indian is the person who is the Indian citizen

who is residing in abroad for more than 182 days and has gone for abroad for the purposes

namely; business, studies and employment.

37. What are the different types of accounts that can be opened by Non Resident Indians? - Non-

resident ordinary account, Non-resident External account, FCNR account and RFC account.

38. What are the different currencies in which FCNR accounts can be opened? - FCNR accounts

can be opened in the following currencies namely; US dollar, pound sterling, Euro, Australian

dollar, Japanese Yen and Canadian dollar. FCNR accounts can be opened for a minimum period of

one year and maximum period of three years

39. What are the traditional functions of RBI? - The traditional functions of RBI are - issue of

currency, forex management, export assistance, clearing house functions, change of currency,

transfer of currency, publication of statistics and other information and training in banking.

40. What are the developmental functions of RBI? - The developmental functions of RBI are -

agriculture development, promotion of industrial finance, promotion of export through

refinance, development of bill market, development and regulation of banking system.

41. What are the regulatory functions of RBI? - The regulatory functions of RBI are qualitative

credit control, bank rate, differential rate of interest, open market operations, Maintenance of

CRR and SLR, direct action, credit authorization scheme and moral persuasion

42. What are the different types of financial institutions in our country? - The various financial

institutions in our country are - RBI - Reserve Bank of India; SEBI - Securities and Exchange Board

of India and IRDA - Insurance Regulatory and Development Authority of India. RBI monitors the

various banks in the country; SEBI monitors and regulates capital markets and IRDA monitors the

functions of insurance companies.

43. What are the different types of banks in our country? - In our country the following banks are

available - savings banks; commercial banks; industrial banks; development banks; land

development banks; indigenous banks; central bank; cooperative banks; exchange banks and

consumer banks

44. What are the different types of secondary functions of any bank? - They are agency or

representative functions; general utility services and social development functions.

45. What do you mean by agency or representative functions of any bank? - They are collection

and payment of various items; purchase and sale of securities; trustee and executor; remitting

money; purchase and sale of financial exchange; letter of references and other agency functions.

46. What are the general utility services offered by the banks? - They are locker facilities;

business information; help in transportation of goods; acting as a referee; issuing of letters of

credit; acting as underwriters; issue of traveler cheques; issue of gift cheques and dealing in

merchant banking activities
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47. What are the social development functions of a bank ? - They are capital formation;

inducement to innovations; impact on the rate of interest; role on the development of rural

sector; helping in pushing up the demand

48. Can you name some items which are covered under negotiable instruments act? - They are

promissory notes, bills of exchanges; cheques, exchequer bills; circular notes; dividend warrants;share warrants; bearer debentures; bank notes and bank drafts

49. What is a Payment Bank? - Payment Bank is a entity which will allow you to open Savings and

Current Account like the other Banks. However, the difference is that a Payment Bank can be your

mobile operator or supermarket chain(eg. Big Bazar) or even a NBFC.

50. What Makes Payment Banks Different From Normal Banks? - Payment Banks helps the

customer to handle cash a lot easier by providing privileages like transferring money from your

Mobile Phones to any bank account or another mobile phone customer and also you can recieve the

money similar way. The added advantages are paying bills, paying at the Shopping Retailers and

recharges etc.

51. Why Payment Banks? - India has a vast growing Mobile Users Database with over 91 Crore

customers. So basically providing the service will increase the Financial Inclusion Programme.

Basically it will help the citizen a lot on the other hand it will boost up the financial inclusion.

Facts On Payment Banks

Payment Banks will give an interest to the customer's account each year similar like Banks.

The only thing Payment Banks will note provide is Giving Out LOANS. The RBI has stipulated that every payments bank must have an equity capital of 100 crore to

start off and maintain a capital adequacy of 15 per cent. Apart from these, it will need to

meet cash reserve requirements and needs to invest in specific securities to meet the

statutory liquidity ratio. All these amounts are to be invested in government securities or

treasury bills. Promoters holding must be at least 40 per cent for the first five years, and

eventually reduced to 26 per cent over 12 years.

NACHIKET MORE COMMITTEE is the officially appointed Committee which recommended

Payment Banks to increase the Financial Inclusion Programme.

Nachiket More Committee is also known as Committee on Comprehensive Financial

Services for Small Businesses and Low-Income Households. Speculations as of 13th August, 2014 are that Western Union, Bharti Airtel, Vodafone are

interested in Payment Banks. It is said that Bharti Airtel is teaming up with State Bank of

India to set up Payment Banks.

History of ATMs and White Label ATMs(WL-ATM/WLA)

The first bank who produced ATM was HSBC in the year 1987 in Mumbai. After that ATM has

been installed in many places. But the problem occurred when RBI noticed that theinstallation of ATMs have not been initiated in the Rural areas of India. Although SBI or State
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Bank of India has the largest ATM network, yet the rural areas are neglected. Mainly the

Urban and Developed areas had the most ATMs. You will notice more ATMs in Shopping

Malls, Movie Theatres, Sports Arena, Entertainment Parks but less in Rural areas, villages.

This has affected the Financial Inclusion program.

To increase the Financial Inclusion, RBI issued guidelines for Non-Banking Financial

Companies to set up White Label ATMs or WL-ATM.

Usually we have seen ATMs with Bank's Logo in it, making it sure that the bank has installed

the ATM in that location. But White Label ATMs does not have any Bank logo in it. It is

installed by any Non-Banking Entity.

52. How does White Label ATM work? - It is like the outsourcing of bank's payment service. Earlier

bank's had to install ATMs using their Logos and security and other maintenance staffs. But with the

White Label ATMs banks now only need to fill the White Label ATMs with cash. Suppose a NBFC

named XYZ Ltd. opens a White Label ATM with the name "ABC". Now they will have a bank as

sponsor. Suppose MNO Bank is the sponsor. So now, XYZ will install and set up their White LabelATMs and keep the maintenance staff and securities while MNO Bank will make sure the White

Label ATMs are having sufficient cash. The outcome of this system is that banks now will not need to

worry about maintenance and other things.

53. Do White Label ATMs charge the customer? - No, as per RBI guidelines they cannot charge the

customers directly. However, they charge from banks and the banks charge it from Customer's

account.

54. Summary of White Label ATM - Basically the main motive is to increase the financial inclusion.

As the NBFCs has to install White Label ATMs in a ratio of 1 Urban White Label ATM is to 2 Rural

White Label ATMs. So when they try to install 1000 White Label ATMs in a Urban Location they will

have to install 2000 White Label ATMs in the Rural Areas. It will increase the Rural participation in

Financial Inclusion.

Facts

IndiCash of Tata Communications Payment Solution Limited(TCPSL) was the first White Label

ATM in India.

More than 15 companies including Tata, Muthoot, Prizm Payments, Srei Infra., Vakgrangee

Software, AGS have been given permission of White Label ATMs by Reserve Bank of India.

Any NBFC or any non-bank entity with a minimum net worth of Rs.100 crore can apply for

White Label ATMs. However it is completely on RBI whether they will give permission or not.

The 5 transactions are free on a monthly basis but after that the White Label ATMs will

charge 15 rs per transaction and 5 rs per balance inquiry. These charges will later reflect on

the customer's bank account statement.
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BANKING & FINANCIAL TERMS

Repo Rate

Repo rate is the rate of interest which is levied on Short-Term loans taken by commercial banks fromRBI. Whenever the banks have any shortage of funds they can borrow it from RBI. reduction in therepo rate will help banks to get money at a cheaper rate. When the repo rate increases! borrowing from

RBI becomes more e"pensive.

Reverse Repo Rate

This is e"act opposite of Repo rate. Reverse repo rate is the rate at which commercial banks #$R%&on their surplus funds with RBI. RBI uses this tool when it feels there is too much money floating in thebanking system. Banks are always happy to keep money with RBI since their money is in the safe handswith a good interest. n increase in Reverse repo rate can cause the banks to transfer more funds to RBIdue to these attractive interest rates.

CRR Rate

#ash reserve Ratio '#RR( is the amount of cash funds that the banks have to maintain with RBI. If RBIdecides to increase the percent of this! the available amount with the banks comes down. RBI is using

this method 'increase of #RR rate(! to drain out the e"cessive money from the banks.

SLR Rate

S)R 'Statutory )i*uidity Ratio( is the amount a commercial bank needs to maintain in the form of cash! orgold or government approved securities 'Bonds( before providing credit to its customers.S)R is determined and maintained by the RBI in order to control the e"pansion of bank credit. S)R isdetermined as the percentage of total demand and time liabilities. Time )iabilities are the liabilities acommercial bank is liable to pay to the customers after a specific time period. S)R is used to controlinflation and proper growth. Through S)R tuning! the money supply in the system can be controlledefficiently.

Bank Rate

Bank rate is the rate of interest which is levied on )ongt-Term loans and vances taken by commercialbanks from RBI. #hanges in the bank rate are often used by central banks to control the money supply.

MSF Rate+-,S',arginal Standing acility Rate(is the rate at which banks can borrow overnight fromRBI.This was introduced in the monetary policy of RBI for the year /00-/0. Banks can borrow funds through ,S

when there is a considerable shortfall of l i*uidity. This measure has been introduced by RBI to regulate short-

term asset liability mismatches more effectively

Base Rate:-The Base Rate is the minimum interest rate of a Bank below which it cannot lend! e"cept for

1RI advances! loans to bank2s own employees and loan to banks2 depositors against their own deposits.

'i.e. cases allowed by RBI( .

Term Deposit Rate+- deposit held at a financial institution that has a fi"ed term. These are generally

short-term with maturities ranging anywhere from a month to a few years. When a term deposit ispurchased! the lender 'the customer( understands that the money can only be withdrawn after the termhas ended or by giving a predetermined number of days notice.

In!ation

Inflation is as an increase in the price of goods and services that pro3ects the Indian economy. nincrease in inflation figures occurs when there is an increase in the average level of prices in goods andservices. Inflation happens when there are fewer goods and more buyers4or we can say when demand is

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more than supply.This will result in increase in the price of goods! since there is more demand and lesssupply of the goods.

De!ation

1eflation is the continuous decrease in prices of goods and services. 1eflation occurs when the inflationrate becomes negative 'below 5ero( and stays there for a longer period.

FII

II 'oreign Institutional Investor( used to denote an investor! mostly in the form of an institution. ninstitution established outside India! which proposes to invest in Indian market! in other words buyingIndian stocks. II6s generally buy in large volumes which has an impact on the stock markets. InstitutionalInvestors includes pension funds! mutual funds! Insurance #ompanies! Banks etc.

FDI:-1I 'oreign 1irect Investment( occurs with the purchase of the 7physical assets or a significantamount of ownership 'stock( of a company in another country in order to gain a measure of management

control8 'or( foreign company having a stake in an Indian company.

SE":-S&9 means Special &conomic 9one is a special geographic part of country which possess specialeconomic regulations that are different from other areas in the same country. ,oreover! these regulationstend to contain measures that are favourable to foreign direct investment. #onducting business in a S&9usually means that a company will receive ta" incentives and the opportunity to pay lower tariffs.

The basic motto behind this is to increase foreign investment! development of infrastructure! 3obopportunities and increase the income level of the people.

Ba!an#e o $a%ment:- record of all transactions made between one particular country and all othercountries during a specified period of time.

Balance of payment of a country is a systematic record of all economic transactions completed betweenits residents and the residents remaining world during a year. In other words! the balance of paymentshows the relationship between the one country6s total payment to all other countries and its total receiptsfrom them.

Ba!an#e o Trae:-Balance of trade refers to the total value of a country6s e"port commodities and totalvalue of imports commodities. Thus balance of trade includes only visible trade i.e. movement of goods'e"ports and imports of goods(. Balance of trade is a part of balance of payment settlement.

Ba!an#e s'eet:-Balance sheet is a statement showing the assets and liabilities of a business at a certaindate. Balance sheet helps in estimating the real financial situation of a firm.

Dire#t an Inire#t Ta(es:-1irect ta"es are levied on the income of individuals and corporates. ore"ample! income ta"! corporate ta" etc. Indirect ta"es are paid by consumer when they buy goods andservices. These include e"cise duty! custom duty! :T! service ta" etc.

Bri)e Loan:- loan made by a bank for a short period to make up for a temporary shortage of cash. ;nthe part of borrower! mostly the companies for e"ample! a business organi5ation wants to install a newcompany with new e*uipments etc. while his present installed company


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Ca!! Mone%:-#all money is in the form of loans and advances which are payable on demand or within thenumber of days specified for the purpose.

C!earin) Bank:-#learing bank is one! which settles the debits and credits of the commercial banks. &ven

of the cash balances are lesser! clearing bank facilitates banking operation of the commercial bank.

C!earin) *o+se:-#learing house is an institutions which helps to settle the mutual indebtedness thatoccurs among the members of its organi5ation.

Gres'am,s La:-7Bad money 'if not limited in *uantity( drives good money out of circulation8 = Thisstatement was given by Sir Thomas %resham! the economic adviser of >ueen &li5abeth. This law statesthat people always want to hoard good money and spend bad money when two forms of money are incirculation at the same time.

*DI:- tool developed by the ?nited @ations to measure and rank countries6 levels of social andeconomic development based on four criteria+ )ife e"pectancy at birth! mean years of schooling!e"pected years of schooling and gross national income per capita. The $1I makes it possible to track

changes in development levels over time and to compare development levels in different countries.

Monetar% $o!i#%:-,onetary policy is the process by which monetary authority of a country! generally acentral bank controls the supply of money in the economy by e"ercising its control over interest rates inorder to maintain price stability and achieve high economic growth. In India! the central monetaryauthority is the Reserve Bank of India 'RBI(. is so designed as to maintain the price stability in theeconomy. ;ther ob3ectives of the monetary policy of India! as stated by RBI! are+Regressive Ta"

It is the ta" in which rate of ta"ation falls with an increase in income. In regressive ta"ation incidence fallsmore on people having lower incomes than that of those having higher incomes.

Creit A+t'ori.ation S#'eme:-#redit uthori5ation Scheme was introduced in @ovember! 0AC when D

# Bhattacharya was the chairman of RBI. ?nder this instrument of credit regulation RBI as per the

guideline authori5es the banks to advance loans to desired sectors

/pen Market /perations:-n open market operation is an instrument of monetary policy which involves

buying or selling of government securities from or to the public and banks.

Mora! S+asion:-,oral Suasion is 3ust as a re*uest by the RBI to the commercial banks to take so and so

action and measures in so and so trend of the economy. RBI may re*uest commercial banks not to give

loans for unproductive purpose which does not add to economic growth but increases inflation.

S'ao $ri#e

It is an imputed value for a good based on the opportunity costs of the resources used to produce it such

values are of particular significance in resolving problems of resource allocating with respect to the effecton welfare.

Spe#ia! Drain) Ri)'ts 0SDRs1:-It is a reserve asset 'known as EDaper %old6( created within theframework of the International ,onetary und in an attempt to increase international li*uidity! and nowforming a part of countries official fore" reserves along with gold! reserve positions in the I, andconvertible foreign currencies2

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Sta)!ation+-It is a state of the economy in which economic activity is slowing down! but wages and pricescontinue to rise. The term is blend of the words stagnation and inflation.

Transer pa%ment:-It is a payment made by public authority other than one made in e"change for goods

or services produced. Transfer payments are not the part of @ational Income. &"amples includesunemployment benefit and child benefits.

In other words! the transfer is made without any e"change of goods or services.F0G

&"amples of certain

transfer payments include welfare 'financial aid(! social security! and government making subsidies forcertain businesses

Deva!+ation:- T'e !oss o va!+e o #+rren#% o a #o+ntr% re!ative to ot'er orei)n #+rren#% isknon as eva!+ation2 Deva!+ation is a pro#ess in 'i#' t'e )overnment e!i3erate!% #'eapenst'e e(#'an)e va!+e o its on #+rren#% in terms o ot'er #+rren#% 3% )ivin) it a !oer e(#'an)eva!+e2 Deva!+ation is +se or improvin)4 t'e 3a!an#e o pa%ment sit+ation in t'e #o+ntr%2

Fis#a! $o!i#%:-iscal policy is the use of government revenue collection 'ta"ation( and e"penditure'spending( to influence the economy

iscal policy is that part of government policy which deals with ta"ation! e"penditure! borrowing and themanagement of public debt in the economy. fiscal policy primarily concerns itself with the flow of funds inthe economy. it e"erts a very powerful influence of the working of economy as a whole.

S#'e+!e Banks:-They are banks which are included in the second schedule of the Reserve Bank ofIndia ct! 0AH. These banks en3oy certain privileges such as free concessional remittance facilities andfinancial accommodation from the RBI. they also have certain obligations like minimum cash reserve ratio'#RR( to be kept with RBI.

ATM +T,s are utomatic Teller ,achines! which do the 3ob of a teller in a bank through #omputer

@etwork. T,s are located on the branch premises or off branch premises. T,s are useful to dispense

cash! receive cash! accept che*ues! give balances in the accounts and also give mini-statements to the

customers.

Bo+n#in) o a #'e5+e + Where an account does not have sufficient balance to honour the che*ue

issued by the customer ! the che*ue is returned by the bank with the reason Jfunds insufficientJ or

J&"ceeds arrangementJ.This is known as 2Bouncing of a che*ue2 .

Co!!e#tin) Banker+ lso called receiving banker! who collects on instruments like a che*ue! draft or bill

of e"change! lodged with himself for the credit of his customer2s account.

De3it Car + plastic card issued by banks to customers to withdraw money electronically from their

accounts. When you purchase things on the basis of 1ebit #ard the amount due is debited immediately to

the account . ,any banks issue 1ebit-#um-T, #ards.

Deman Deposits + 1eposits which are withdrawn on demand by customers.&.g. savings bank and

current account deposits.

Demat A##o+nt + The term JematJ! in India! refers to a dematerialised account for individual Indian

citi5ens to trade in listed stocks or debentures in electronic form rather than paper! as re*uired

for investors by the Securities and &"change Board of India 'S&BI(. In a emat a##o+nt! shares and

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securities are held electronically instead of the investor taking physical possession of certificates.

demat account is opened by the investor while registering with an investment broker

E!e#troni# Commer#e 0E-Commer#e1:&-#ommerce is the paperless commerce where the e"change of

business takes place by &lectronic means.

Enorsement + When a @egotiable Instrument contains! on the back of the instrument an endorsement!

signed by the holder or payee of an order instrument! transferring the title to the other person! it is called

endorsement.

Mer#'ant Bankin) + When a bank provides to a customer various types of financial services like

accepting bills arising out of trade! arranging and providing underwriting! new issues! providing advice!

information or assistance on starting new business! ac*uisitions! mergers and foreign e"change.

Minor A##o+nts+ minor is a person who has not attained legal age of 0K years. s per #ontract ct a

minor cannot enter into a contract but as per @egotiable Instrument ct! a minor can draw!negotiate!

endorse! receive payment on a @egotiable Instrument so as to bind all the persons! e"cept himself. Inorder to boost their deposits many banks open minor accounts with some restrictions.

Mo3i!e Bankin)+ With the help of ,-Banking or mobile banking customer can check his bank balance!

order a demand draft! stop payment of a che*ue! re*uest for a che*ue book and have information about

latest interest rates.

Mone% La+nerin)+ When a customer uses banking channels to cover up his suspicious and unlawful

financial activities! it is called money laundering.

Mort)a)e + Transfer of an interest in specific immovable property for the purpose of offering a security for

taking a loan or advance from another. It may be e"isting or future debt or performance of an agreement

which may create monetary obligation for the transferor 'mortgagor(.

NABARD + @ational Bank for griculture L Rural 1evelopment was setup in 0AK under the ct of 0AK0.

@BR1 finances and regulates rural financing and also is responsible for development agriculture and

rural industries.

Ne)otiation + In the conte"t of banking! negotiation means an act of transferring or assigning a money

instrument from one person to another person in the course of business.

N$A A##o+nt+ If interest and instalments and other bank dues are not paid in any loan account within a

specified time limit! it is being treated as non-performing assets of a bank.

$!asti# Mone% + #redit #ards! 1ebit #ards! T, #ards and International #ards are considered plastic

money as like money they can enable us to get goods and services

$rime Lenin) Rate 0$LR( + The rate at which banks lend to their best 'prime( customers.It is usually

less than normal interest rate.

$romissor% Note+ Dromissory @ote is a promise < undertaking given by one person in writing to another

person! to pay to that person ! a certain sum of money on demand or on a future day.

$+3!i# Se#tor Bank+ bank fully or partly owned by the %overnment.

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6irt+a! Bankin) + :irtual banking is also called internet banking! through which financial and banking

services are accessed via internet2s world wide web. It is called virtual banking because an internet bank

has no boundaries of brick and mortar and it e"ists only on the internet.

7'o!esa!e Bankin)+ Wholesale banking is different from Retail Banking as its focus is on providing forfinancial needs of industry and institutional clients.

Nationa! E!e#troni# F+ns Transer S%stem 0NEFT1M RBI introduced an electronic funds transfer

system to facilitate an efficient! secure!econo-mical! reliable and e"peditious system of funds transfer and

clearing in the banking sector throughout India! and to relieve the stress on the e"isting paper-based

funds transfer and clearing system called @ational &lectronic unds Transfer System '@&T

System(.

Nationa! E!e#troni# C!earin) Servi#es 0NECS1 MThe ob3ective of @ational &lectronic #learing

Services '@S( is to facilitate centralised processing for repetitive and bulk payment instructions.

Sponsor banks shall submit @S data at a single centre vi5. at ,umbai. While @S '#redit( shall

facilitate multiplecredits to beneficiary accounts at destination branch against a single debit of theaccount of a ?ser with the sponsor bank! the @S '1ebit( shall facilitate multiple debits to destination

account holders against single credit to user account.

8niversa! Bankin):- ?niversal Banking refers to those services offered by banks beyond traditional

banking service such as saving accounts and loans and includes Dension unds ,anage-ment!

undertaking e*uipment leas-ing! hire purchase business and factoring services! Drimary 1ealer-ship

'D1( business! insurance busi-ness and mutual fund business.

Finan#ia! S%stem:-The economic development of a nation is reflected by the progress of the various

economic units! broadly classified into corporate sector! government and household sector. While

performing their activities these units will be placed in a surplus


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Creit Market- #redit market is a place where banks! Is and @B#s give short! medium and long-term

loans to corporate and individuals.

Mone% Market Instr+ments:-,oney ,arket Instruments The money market can be defined as a market

for short-term money and financial assets that are near substitutes for money. The term short-termmeans generally a period upto one year and near substitutes to money is used to denote any financial

asset which can be *uickly converted into money with minimum transaction cost.

Some o t'e important mone% market instr+ments are 3rie!% is#+sse 3e!o9

0. #all


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Bo+n#e C'e5+e:- che*ue that a bank has refused to cash or pay because the account holder does not

have sufficient funds to cover it in this account.

Cas'ier,s C'e5+e:- che*ue issued by a bank drawn on its own funds rather than on the funds its

depositors.

C!ear:- che*ue is 7cleared8 when its account is debited or deducted from the payer6s account and

credited or added to the payee6s account.

Compo+n Interest:-Interest calculated on the original principal and on the interest already accrued.

/verrat:- che*ue written for more money than is currently in the account. The che*ue is said to have

Ebounced6 if the bank refuse to cash the che*ue.

Stop $a%ment:- re*uest made to a bank to not pay a specific che*ue. If re*uested soon enough! the

che*ue will not be debited from the payer6s account.

Bank Drat:- che*ue drawn by one bank against funds deposited into its account at another bank!

authori5ing individual named in the draft.

Ina#tive A##o+nt:-Transactions house not occurred on a bank account for an e"tended period of time..

$ersona! Ientii#ation N+m3er 0$IN1:-n account holder has a secret number or code to authori5e a

transaction or obtain information regarding his or her account often used in con3unction with a plastic card

'T, or 1ebit #ard(! online account access or with a telephone voice response system.

Bank Statements:-This is a statement from the bank giving details of transaction in the relevant account.

It can be re*uested at any intervals re*uired! usually monthly.

C'e5+e C!earin):-This is the process of getting the money from the che*ue-writer6s account into theche*ue receiver6s account.

Stanin) /rer:- regular payment made out of a current account which is of a set account and is

originated by the account holder.

Frin)e Beneit:- benefit in addition to salary offered to employees such as use of company6s car!

house! lunch coupons! heath care subscriptions etc.

Forei)n E(#'an)e Reserves:-Forei)n-e(#'an)e reserves'also called ore( reservesor F@

reserves( in a strict sense are 2only2 the foreign currency deposits and bonds held by central banks and

monetary authorities. $owever! the term in popular usage commonly includes foreign e"change

and gold! special drawing rights 'S1Rs(! and International ,onetary und 'I,( reserve positions.

Croin) /+t:-The possible tendency for government spending on goods and services to put upward

pressure on interest rates! thereby discouraging private investment spending.

Centra! Bank:-,a3or inancial institution responsible for issuing currency! managing foreign reserves!

implementing monetary policy! and providing banking services to the government and commercial banks

RBI is the central bank of India.

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A##o+nt pa%ee:-lso Eaccount payee only6. Words written on the face of a che*ue between two parallel

lines. The purpose is to ensure that the che*ue may only be paid into an account in the name of the

payee-the person to whom the che*ue is made payable. This means that the payee cannot sign it in

names of another person.

M+!ti /ption Deposit s#'eme:-,ulti ;ption 1eposit scheme is a term deposit which is not fi"ed at all

and comes with a uni*ue break-up facility which provides full li*uidity as well as benefit of higher rate of

interest! through the savings bank account. ;ne can also keep that deposit intact by availing on overdraft

facility! to meet occasional temporary funds re*uirements.

Cars:-Banks provide free T, cum 1ebit card to its customers who have deposit account with them.

This card provides online access to savings or current account. They can have the access to the widest

network of T,s across the country to withdraw cash! en*uire about the account balance etc. Banks are

also having bilateral sharing arrangement with other banks under this scheme.

Demat Servi#es:Banks have come forward to offer 1emat Services to its customer. 1emat account! the

abbreviation for demateriali5ed account is used to avoid holding physical shares+ The shares are boughtand sold through a stock broker.

/n!ine Bankin):-Transaction at the convenience of customers! saving times and cost through computers

is popularly known as ;nline Banking. It is also known as &-Banking or @et Banking or Internet Banking.

It is done through a computer with internet facilities. #ustomers can monitor and control their through

Internet Banking. They can check account balance view their account! get summary statement! make bill

payments and utility payments! re*uest for che*ue book! drafts! Bankers che*ues! stop che*ue

payments! transfer funds! re*uest for third party transfers! invest and renew deposits! issue standing

instruction! register mobile number for S,S alerts and many more attractive features user-id and

password are given by the banks to the customer for operation of account after they successfully register

with the bank.

NRI Bankin) :-Banks allow @RI6s to open an @RI account when they complete the account opening

formalities. customer for this purchase a form has to be filled up in which the information soughtly the

bank is provided. They can have a @RI Saving Bank ccount! #urrent ccount! i"ed 1eposits in Indian

Rupees! i"ed 1eposits in foreign currency! @R; account 'Rupee account for crediting income in India(

Savin) A##o+nt9- saving bank account is the most common operating account for individuals and

others for non-commercial transaction. savings account helps people to put through day-to-day

banking transaction besides earning some return on the savings made. Banks generally put some ceiling

on the total number of withdrawals permitted during specific time periods. Banks also stipulate certain

minimum balance to be maintained in saving accounts @ormally! a higher minimum balance is stipulated

in che*ue operated accounts as compared to non-che*ue operated accounts. Banks as a rule do not give

overdraft facility in a saving account but allow occasional over drawings to meet contingencies.

C+rrent A##o+nts:-#urrent accounts are che*ue operated accounts maintained for mainly business

purpose. ?nlike savings bank accounts no limits are fi"ed by banks on the number of transaction

permitted in the account Banks generally insist on a higher minimum balance to be maintained in current

account. #onsidering the large number of transactions in the account and volatile nature of balances

maintained overnight banks generally levy certain service charges for operating a current account. In

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terms of RBI directive banks are not allowed to pay any interest on the balances maintained in current

accounts.

Fi(e or Time Deposits:-Time deposits are deposits accepted by banks for a specified period of time. In

terms of RBI directives the minimum period for which term deposits can be accepted is 0C days. Thebanks generally do not accept deposit for period longer than 0/ years. Banks pay interest on term

deposits based on the periods of deposits and normally pay higher interest for longer term deposits

changes made in interest rates from time to time do not alter the interest paid on the e"isting deposits.

Banks are allowed to levy a penalty for premature encashment of deposits at their discretion. Bank allow

loans against the fi"ed deposits on demand margin retained over the deposit outstanding and interest

rate charged there on are decided by to bank and may vary from bank to bank.

Capita! Ae5+a#% Ratio:-#apital ade*uacy ratio measures the amount of a bank6s capital e"pressed as

a percentage of its credit e"posure. %lobally! the capital ade*uacy ratio has been developed to ensure

banks can absorb a reasonable level of losses before becoming insolvent. Indian banks are e"pected to

maintain a minimum capital ade*uacy ratio of A per cent 'Rs A as capital for every Rs 0// in loan or

asset( pplying minimum capital ade*uancy ratios serves to protect depositors and promote the stability

and efficiency of the financial system by reducing the likelihood of banks be coming insolvent.

Co!!atera! Loan Market

#ollateral loan market forms! by and large! the largest and the best developed section of the money

market. In this market! loans are given against the security of government bonds! shares of first class

companies! agriculture and manufactured commodities and bullion and 3ewellery.

M+t+a! F+ns:-,utual unds collect the savings from small investors to invest them in government and

other corporate securities and cash income through interest and dividends desides capital gains. It works

on the principle of 7small drops of water make a big ocean8 to get funds from investors! the fund adopts a

simple techni*ue. &ach fund is divided into a small fraction #alled Eunits6 of e*ual value. &ach investor isallotted units in proportion to the si5e of his investment.

Re)+!ar Savin)s A##o+nt:- orm of deposit account with no legal limits or re*uirements as to amount

duration or times of addition or withdrawals.

7ire Transer:-n electronic transfer of funds from one financial institution to another.

E#onomi# Mira#!e:-The terms Jeconomic miracleJ! Jeconomic boomJ! Jtiger economyJ or simply JmiracleJ

have come to refer to great periods of change! particularly periods of dramatic economic growth! in the

recent histories of a number of countries.

Asset Lia3i!it% Mismat#':-In finance! an asset=liability mismatch occurs when the financial

terms of an institution2s assets and liabilities do not correspond

Fi(e in#ome + It refers to any type of investment under which the borrower


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$remi+m Finan#in) :-Dremium inancing involves the lending of funds to a person or company to cover

the cost of an insurance premium.Dremium finance loans are often provided by third party finance entity

known as a JDremium inancing #ompanyJ4 however insurance companiesand brokerages occasionally

provide premium financing services

Net present va!+e:- In finance! the net present va!+e'N$6( or net present ort''N$7(F0G

of a time

series of cash flows! both incoming and outgoing! is defined as the sum of the present values 'D:s( of the

individual cash flows of the same entity.

S'are Capita!:-unds raised by issuing shares in return for cash or other considerations. The amount of

share capital a company has can change over time because each time a business sells new shares to the

public in e"change for cash! the amount of share capital will increase. Share capital can be composed of

both common and preferred shares.

1)

First bank established in India: Bank of Hindustan in 17702)

First India bank started solely with Indian capital investment is PNB (Punjab National Bank)

3)

Founder of Punjab National Bank is Lala Lajpat Rai4)

Reserve Bank of India RBI) was established in 1935 and Nationalized in 1949.5)

First governor of RBI: Mr.Osborne Smith6)

First Indian Governor of RBI: Mr. C D Deshmukh

7)

First bank to introduce savings account in India: Presidency Bank in 18338)

First bank to introduce cheque system in India: Bengal Bank in 18339)

First bank to introduce internet banking: ICICI bank10)

First bank to introduce mutual fund: State Bank of India

11)

First bank to introduce credit card in India: Central Bank of India12)

Open market operations are carried out by RBI13)

Capital market regulator is SEBI14)

Largest Commercial bank in India State Bank of India

15)

The International Bank for Reconstruction and Development (IBRD) is known as World Bank16)

CRR, SLR, Repo Rate, Reverse Repo rate are decide by RBI17)

Savings banks interest rates, fixed deposit interest rates, Loan Rates etc. are decided by individual banks18)

The bank which has launched Mobile Bank Accounts in association with Vodafones m paisa HDFC Bank

19)

Largest Public sector bank in India SBI20)

Largest Private sector bank in India ICICI Bank

21)

Largest Foreign bank in India Standard Chartered Bank22)

First Indian bank to open branch outside India i.e. London in 1946: Bank of India23)

First RRB named Prathama Grameen Bank was started by: Syndicate Bank24)

First Bank to introduce ATM in India: HSBC in1987, Mumbai

25)

Bank of Barodahas the maximum number of overseas branches

26)

FDI limit for new banks 49%27)

FDI limit for private banks: 74%28)

Bank of Indiais the first Indian Bank to open overseas branch. It established a branch in London in 1946.

29)

ICICI Bankwas the first Bank to provide Mobile ATM.30)

SBI State Bank of Indiahas the total number of maximum branches and holds 2nd position in the world.31)

India's first "talking" Automated Teller Machine ATM) launched by Union Bank of India UBI) for visuallyimpaired was launched in Ahmedabad Gujarat).


ONE LINERS TO REMEMBER
http://en.wikipedia.org/wiki/Insurance_premiumhttp://en.wikipedia.org/wiki/Insurance_companyhttp://en.wikipedia.org/wiki/Net_present_value#cite_note-netpresworth-0http://en.wikipedia.org/wiki/Net_present_value#cite_note-netpresworth-0http://www.exampundit.in/http://www.exampundit.in/http://www.exampundit.in/http://www.exampundit.in/http://www.exampundit.in/http://www.exampundit.in/http://www.exampu

ibps po iv 2014 interview magazine exampundit

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