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Banking And Current > Banking And Finance > Flashcards

Banking And Finance Flashcards

1
Q

Which are among finance committee?

A
  1. Estimates committee
  2. The public accounts committee (PAC)
  3. The committee on Public Undertakings (CoPU)
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2
Q

Vikas Siri Sampath-1111

A

Karnataka Vikas gramin bank launched a new deposit scheme “ Vikas siri Sampath-1111” the scheme is of
tenor of 1,111 days with
interest rate of 5.70% for general public
and 6.20% senior citizens

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3
Q

8 National missions on climate change

A
  1. National solar mission
  2. National mission for enhanced energy efficiency
  3. National mission on sustainable habitat
  4. National water mission
  5. National mission for sustaining the Himalayan ecosystem
  6. National mission for green India
  7. National mission for sustainable agriculture
  8. National mission on strategic knowledge for climate change
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4
Q

National clean air program

A

Launched in year 2019
Objective- stringent implementation of mitigation measures for prevention ,control and abatement of air pollution
-20% to 30% reduction in particulate matter concentration by 2024 keeping 2017
- air quality of cities is monitord by state pollution control boards

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5
Q

Green skill development program

A

Launched in 2008

To ensure ecological economic growth and

to facilitate INDCs(intended nationally determined contribution)

Implementation by PM council on climate change

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6
Q

F a m e India scheme { phase 2 }

Faster Adoption and Manufacturing of hybrid and Electrical vehicles

A

Scheme launched from 2019 to 31st March 2022

Prevent the use of petrol and diesel type vehicles

it was an integral part of the “ national electric mobility mission” plan

Government extended FAME 2 scheme for 2 years till “31st March 2024”.

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7
Q

“Public sector banks” offered how much “unsecured loan” for the treatment of covid-19 patients

A

Up to rupees “₹5 lakhs” to covid-19 patients payable in 5 years
banks are free to decide their interest rate
SBI would charge interest of 8.5% per annum

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8
Q

Public provision and public production of public goods

A

Public provision means they are financed through the budget and can be used without any direct payment

Public goods maybe produced by the government or the private sector
When goods are produced directly by the government called public production

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9
Q

“Smart hub Vyapar program” and

“ AutoFirst” app

A

By HDFC Bank

give a digital push to small business loans

Financial institution has onboarded over 2.7 million retailers

Buying hundred thousand retailers each month

“AutoFirst” app provide automated auto loans.

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10
Q

NABARD + Arthimpact digital loans= SHG

A

Nabard partnership with FINTECH firm “ARTHIMPACT digital loans” to provide
end to end fintech solution
including skilling ,microfinance services and forward linkage support to self help group(SHG) members

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11
Q

In which country CSR mandatory in 2013?

A

As per companies act 2013 ,
India become first country to legislate
the need to Undertake CSR activities and
mandatory report CSR initiative

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12
Q

Inflation target in India set up by?

A

Based on RBI act 1934 ,

Both Government of India and RBI together sets the inflation target for the country

for a period of 5 years.

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13
Q

RBI “financial literacy week” FLW

A

Started in 2016
Held from 14-18 February 2022

Theme - “GO digital ,go secure”

This theme is one of the strategic objectives of the national strategy for financial education 2020-25.

Focus is on creating awareness about: -convenience of digital transactions ,

  • security of digital transactions,
  • protection of customers
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14
Q

Loan to India for improving its urban services

A

By ASIAN development Bank
OF ₹2,644 crores

Loan support Policies established by MoHUA to accelerate
* universal coverage of pipe water supply and *improved sanitation

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15
Q

RBI bucket category

A

ICICI bank and HDFC Bank = bucket 1
SBI = buckets 3

Bucket 5 being the most important followed by rest in descending order.

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16
Q

India’s list of MSME owned entrepreneurs from schedule caste

A

First rank Maharashtra with 96,805 enterprises
Second rank Tamilnadu with 42,997 enterprises
Third rank Rajasthan with 38,517 units

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17
Q

Tata neu

A

Tata group has launch a new super app Tata neu which will offer a variety of services like flight booking, hotel bookings, car buying, groceries, food delivery, investments and more.

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18
Q

Industrialist Gautam Adani LED Adani group has signed a pact of posco to explore business opportunities in sectors like
Steel, renewable energy among others, posco belongs to?

A

South Korea

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19
Q

RBI recently superseded the BOD of Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL), citing governance concerns and payment defaults. Who has been appointed as the administrator of the two NBFCs?

A

Rajneesh Sharma, Ex-Chief General Manager of Bank of Baroda has been appointed as the administrator of the two NBFCs.

20
Q

What is the theme of RBI’s recently announced third cohort of Regulatory Sandbox?

A

MSME lending…

21
Q

The Reserve Bank of India has granted a banking licence to Unity Small Finance Bank Ltd (USFBL). One of its promoters is _____________.

A

which was established jointly by the Centrum Financial Services Ltd (CFSL) and Resilient Innovations Private Limited

(BharatPe),
to carry on a SFB business in India.

22
Q

Know Your Customer {KYC)

A

KYC is the method of a company that verifies the customer’s identity and assesses possible risks to the business relationship from criminal intentions. The name is also used to relate to the regulations on banks and
anti-money laundering regulations that govern such activities. (RBI) adopted the KYC process to avoid financial fraud, such as identity theft, money laundering and illegal transactions.

Here is a required document serving as identification evidence and address proof
Passport
Voter ID card
Driving Licence
PAN card
Aadhaar Card

If the document you provide for identity proof does not contain details of the address, you can send another legally valid document containing details of the address such as electricity bill, telephone bill, gas bill, etc.

23
Q

RBI recently approved ____________________ for commencing international (Cross Border) remittance business under the Money Transfer Service Scheme (MTSS).

A

FINO Payments Bank

The approval will enable the customers of Fino Payments Bank to receive money sent from foreign countries.

24
Q

The credit information companies (CICs), or credit bureaus are regulated by _____________

A

RBI

recently laid down eligibility norms for entities tapping into data from credit information companies (CICs), or credit bureaus.

As per the rules, a company must be owned and controlled by resident Indian citizens to become a specified user with a credit bureau.

25
Q

RBI recently asked certain class of Non-Banking Financial Companies (NBFC) to mandatorily implement ‘Core Financial Services Solution (CFSS)’ by September 30, ________ in order to provide seamless customer interface as well as have a centralised data base.

A

September 30, 2025

CFSS is akin to the Core Banking Solution (CBS) adopted by banks.

26
Q

What is the main function of Central Depository Services (India) Ltd (CDSL)?

A

The main function of CDSL is to facilitate holding of dematerialised securities enables securities transactions to be processed by book entry.

27
Q

__________________ became the largest and fastest-growing UPI beneficiary bank in India.

A

Paytm Payments Bank Ltd (PPBL) became the largest and fastest-growing UPI beneficiary bank in India.

It becomes the first beneficiary bank in the country to achieve the landmark of over 926 million UPI transactions in a single month.

28
Q

RBI recently imposed several restrictions on Indian Mercantile Cooperative Bank Ltd. including a cap of Rs 1 lakh on withdrawals. The Indian Mercantile Cooperative Bank is based at ______________.

A

RBI recently imposed several restrictions on Indian Mercantile Cooperative Bank Ltd, Lucknow, including a cap of Rs 1 lakh on withdrawals.

RBI has imposed the above restriction in the exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949.

29
Q

Govt Launches Doorstep Crop Insurance Distribution Drive ‘Meri Policy, Mere Hath’ under
PMFBY; PMFBY Enters 7th year

A

Union agriculture minister Narendra Singh Tomar (CONSTITUENCY-morena,mp)

launched @ senwar tehsil of indore, MP.

The farmer can report crop loss within 72 hours of the occurrence of any event through the Crop Insurance App, Common Service Centre (CSC) or the nearest agriculture officer

.Integration of land records with the PMFBY’s National Crop Insurance Portal (NCIP), Crop Insurance
mobile app for easy enrollment of farmers

30
Q

NBFC’s- middle layer and NBFCs upper Layer with ______________

and more “ Fixed point service delivery units’ shall be mandatoryily required to implement ‘Core Financial Service Solution’ (CFSS) , similar to Core Banking Solution (CBS) adopted by banks.

A

10 and more fixed point service delivery units

(a place of operation from where the business activity of non banking financial intermediation is carried out by NBFC)

as on October 1st, 2022

shall be mandatoryily required to implement CFSS ; akin to CBS adopted by banks.

31
Q

The Indian Navy receives first P15B
stealth guided missile destroyer “ Visakhapatnam- class
on October 28, 2021 .

Which company was behind its manufacturing?

A

Mazagon Dock limited

It is the latest destroyer design currently under construction for the Indian Navy.

It also incorporates new design concepts for improved survivability , sea keeping, stealth and maneuverability.

32
Q

Compress natural gas is a fuel gas made of petrol, it is mainly composed of which gas?

A

It consist of 85% of methane

and rest 15% ethane, propane and butane .

This gas is also known as Marsh gas .

It is a greenhouse gas.

33
Q

Repo rate & Bank rate

A
  • The rate at which RBI leads to commercial Bank by purchasing the securities is called the repo rate.
  • Bank rate is the rate at which RBI lands to commercial Bank without purchasing the securities.
34
Q

Pradhanmantri Sangrahalaya

A

Honour the contribution of all PM of India towards nation building since independence.

Inaugurated during the celebration of “ azadi ka Amrit mahotsav “ the museum tells the story of India after independence through the lives and contributions of its prime ministers.

PM Modi serving as a 14th prime minister of India.

35
Q

Government of India has approved the extension of interest equalisation scheme (IES) for pre and post shipment rupee export credit scheme up to__________?

A

31st March 2024

GOI Approved the extension of scheme .

It takes affect from October1, 2021 and ends of March 31st , 2024.

36
Q

School chalo abhiyan

A

Launched by Uttar Pradesh ,

CM Shri Yogi Adityanath on 4th April 2022.

The aim is to get 100% enrollment in junior and senior school .
Students will receive shoes, uniform and socks in theisproject.

37
Q

**Union cabinet chaired by PM, approves capital infusion for the 3 public sector general insurance companies.

  • for an overall value of rupees 12,450 crore; (including ₹ 2500 crore infused in FY 2019-20)
  • Of which ₹ 3,475 crore will be released immediately while the balance of 6,475 crore will be infused later.
A

3 public sector general insurance companies namely:-

  • Oriental Insurance Company limited (OICL)
  • National Insurance Company limited (NICL) and
  • United India Insurance Company limited (UIICL)

Cabinet also approved increase in authorised share capital of NICL to ₹ 7,500 crore and that of UIICL and OICL to ₹ 5,000 crore respectively to give effect to the capital infusion.

The process of merger has been ceased so far in view of the current scenario and instead,
the focus shall be on their profitable growth.

The capital infusion of rupees 3,475 crore will be allocated to 3 public sector general insurance companies viz, OICL, NICL and UIICL,
as the first tranche in the current FY and the balance amount will be released in one or more tranches.

  • NICL HQ - Kolkata ; MD&CEO - Smt. Suchitra Gupta
  • OICL HQ- New Delhi; MD&CEO - SN Rajeshwari
  • UIICL HQ - Chennai; MD&CEO - Girish Radhakrishnan.
38
Q

Which payment bank has released QR( quick response) code Sound box for its users ?

A

AU small finance Bank

To help small merchants to run their operations smoothly without the hassle of reading SMS every time when a customer makes a payment.

It will be made available in 5 languages Hindi, English , Gujrati, Punjabi and Marathi.

Earlier it was AU financials limited in 1996 and converted to small finance bank on 19th April 2017.

Its HQ is in Jaipur and
founder Sanjay Agarwal.

39
Q

What is the monetary policy stance taken by RBI in recent review ?

A

Hawkish Stance .

An accommodative stance means the central bank is prepared to expand the money supply to boost economic growth.

RBI decided to remain accomodative while focusing on withdrawal of accommodation to ensure inflation remains within target going forward.

40
Q

Mixed economy and capitalist economy

A

An economy in which there is both private sector and the government is known as mixed economy. We have adopted mixed economy system in India (a mix of capitalist and planned economic system) .

  • Capitalist economy can lead to a great economic and inequality and the gap between the rich and poor just gets bigger.
41
Q

Geo-tagging information in respect of which shall be submitted to reserve Bank?

  • *Point of Sale (PoS) Terminal= hardware system for processing card payment at retail locations. Software to read magnetic strips of credit and debit cards embedded in the hardware.
A

Geo-tagging refers to capturing the geographical coordinates (latitude and longitude) of payment touch points deployed by merchants to receive payments from their customers.

Geotaging has various benefits such as providing insights on regional penetrations of digital payments; monitoring infrastructure density across different locations; identifying the scope for deploying additional payment touchpoint ; facilitate focused digital literacy program.

Policy interventions for realizing the above benefits will be facilitated by the information thus collected.
e.g such as Bharat QR, UPI QR, etc.

Additional docs of PoS -
e g. - Mobile PoS, Soft PoS,Tablet PoS, Desktop PoS, Kiosk, Android based, Non-android PoS Terminal with GPRS SIM Card-embedded, Non-android based PoS terminals with PSTN Line connectivity, etc.

42
Q

RBI proposed to extend the term liquidity facility of ₹ 50,000 crore offered to emergency health services till_______?

A

June 30, 2022.

Last year in May, RBI announced an on-tap liquidity window of ₹ 50,000 at repo rate with tenors of up to 3 years to boost provision of immediate liquidity for ramping UP covid-19 related healthcare infrastructure and services in the country.

It is now proposed to extend this window up to June 30, 2022 from March 31st, 2022 as announced earlier.

43
Q

Mahatma Gandhi National fellowship ( MGNF ) programme has signed contract with which of the following IIM to implement this programme?

A

IIM Bangalore .

44
Q

Regional Rural banks (RRB)

A
  • RRB Set up on the basis of recommendation of Narasimhan working group 1975.
  • The first RRB “Prathama Grameen Bank” was setup on 2nd Oct, 1975.
  • Stakeholders of RRB is held by CG, SG and Sponser bank in the proportion of
    50: 15:35 .

*RRB are Financial institutions which ensure adequate credit for agriculture and other rural sector.

45
Q

Who has won the serbia open 2022?

A

Andrey Rublev from Russia defeated world No. 1 Novak DJokovic from Serbia to win his 3rd title in Serbia open.

Rublev have now equakled Rafael Nadal ( Spain) for the most tour level titles in 2022.

He also clinched crowns in Marseille and Dubai in February 2022 .

This year the tournaments held at Novak Tennis centre in belgrade from April 19 to 25.

46
Q

Which online food delivery company has recently announced hundred percent plastic neutral delivery from April

A

Zomato
headquarter - Gurgaon
CEO- Deepinder Goyal

47
Q

Which state police launched “call your cop “ to enhance communication between the police and citizens?

A

Nagaland police launched a mobile app named “ Call Your Cop “ to enhace communication between the police and citizens.

Banking And Current (3 decks)

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