Professional Documents
Culture Documents
Banking Awareness Quick Reference Guide 2014 - Gr8AmbitionZ PDF
Banking Awareness Quick Reference Guide 2014 - Gr8AmbitionZ PDF
Banking Awareness Quick Reference Guide 2014 - Gr8AmbitionZ PDF
www.Gr8AmbitionZ.com
your A to Z competitive exam guide
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
Gr8AmbitionZ.com
GGr
8A
A
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
8A
A
Gr8AmbitionZ.com
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Luxembourg (Where Sahantha biotech fraud happened), Cayman Islands (where Vodafone fraud
happened). Govt. India wants to plan these rules from 2016.
GDP: GDP stands for Gross Domestic Product. It is a method of measuring the size of economy of a
country. We can define as the total market value of all the goods and services produced in a given period
of time in a country.
GNP: The total value in money of all finished goods and services produced in an economy in one full
year, and all net property income from abroad. The GNP growth rate is an important economic indicator
for countrys economic development.
Inflation: Inflation is as an increase in the price of bunch of Goods and services that projects the Indian
economy. An increase in inflation figures occurs when there is more demand and less supply of the
goods.
Interest : The amount paid or charged on money over time. If you borrow money interest will be
charged on the loan. If you invest money, interest will be paid (where appropriate to the investment).
Internet Banking : Online banking (or internet banking ) allows customers to conduct financial
transactions on a secure website operated by the bank. Banks are using internet as a channel to deliver
their service to their customers is referred to internet banking.
Kissan Credit Card : Kissan Credit card is issued by the bank to farmers to meet their cultivation needs
and inputs, for a period of three years.
Letter of Credit : The buyer of goods request his bank to give guarantee that the payment for the goods
will be paid to the seller. IN such case the bank issues LC.
Loan : A loan is a type of debt. In a loan, the borrower initially receives or borrows an amount of
money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of
money to the lender at a later time. There are different kinds of loans such as the house loan, auto loan
etc.
Mergers in Banking : Mergers refers to combination of two or more banking companies into a single
one. Further, it shall continue on a single name.
Mobile Banking : Operating banking services on his / her mobile screens like checking his bank
account balances / fund transfers etc.., is referred mobile banking.
Monetary Policy : The RBI issues monetary policy annually to control money supply in the economy
and flow of credit by banks to control inflation. CRR, SLR, BANK Rate are the tools of monetary policy
(recent monetary policy statement was released on 30th September 2014). Next will be on 2nd December
2014.
Monetary policy: It is the process by which the central bank or monetary authority of a country controls
(i) the supply of money, (ii) availability of money, and (iii) cost of money or rate of interest.
Monetized debt: The govt. Can restore the original situation before economic crisis period by offering
subsidies and royalties and different incentives to increase the total quality production of the country in
stipulated time, US govt. Did it in 2010-11.
Moratorium : When the repayment of a loan starts after certain period of its disbursement, that period is
called moratorium.
National Electronic Fund Transfer (NEFT) : Transfer of funds involving inter banking at the national
level through national clearing cell of the RBI at free press house. It refers to transfer of amount from
one bank account to another bank account.
NO-Frill Account : An account opened with Zero balance and where the transaction amount is limited
to certain limit is called No-Frill Accounts. Generally these are opened for Students.
NRE Accounts : Non-Resident External Accounts are the ones in which NRIs remit moneyh in any
permitted foreign currency and the remittance is converted to Indian rupees for credit to NRE accounts.
The accounts can be in the form of Current, Saving, FDs, recurring deposits. The interest rates and other
terms of these accounts are as per the RBI directives.
Overdraft : This is when a person has a minus figure in their account. It can be authorized (agreed to in
8A
A
Gr8AmbitionZ.com
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
advance or retrospect) or unauthorized (where the bank has not agreed to the overdraft either because the
account holder represents too great a risk to lend to in this way or because the account holder has not
asked for an overdraft facility).
Participatory note: It is the economic instrument at which the FIIs not enlisted with the prime
regulator of a country and use this tool to lift the money by means of forward trading/pricing and crate
financial chaos in a particular country and SEBI of our India amended to stop this nonsense.
Payee : The person who receives a payment. This often applies to cheques. If you receive a cheque you
are the payee and the person or company who wrote the cheque is the payer.
Payer : The person who makes a payment. This often applies to cheques. If you write a cheque you are
the payer and the recipient of the cheque is the payee.
Plastic Money : The payment system in mode of credit and other cards like debit card etc refers to
plastic money.
Point of sale (POS) System : It allows payment to be made at point of sales by the way of electronic
fund transfer.
Prime Lending Rate : It is the rate at which commercial banks give loan to its prime customers.
Quantitative easing: This is the process at which govt. Can ease the money flow in to the system by
buying the toxic assets of banks, this was happened in USA in past recession period by the chairman of
the then Fed reserve Ben Bernanke.
Recurring Deposits : These are also called cumulative deposits and in recurring deposit accounts, a
certain amounts of savings are required to be compulsory deposited at specific intervals for a specified
period.
Repo Rate : Under repo transaction the borrower places with the lender certain acceptable securities
against funds received and agree to reverse this transaction on a predetermined future date at agreed
interest cost. Repo rate is also called repurchase agreement or repurchase option.
Reverse Repo Rate : It is the interest rate earned by the bank for lending money to the RBI in exchange
of govt. securities or lender buys securities with agreement to sell them back at a predetermined time.
Sales tax Taxes paid on the goods and services people buy, Tobin tax is a tax which will be levied on
spot conversion of currencies in between countries, used curtail the drain of market.
Savings account : Savings account is an account generally maintained by retail customers that deposit
money and can withdraw them whenever they need. Funds in these accounts are subjected to low rates of
interest.
Security for Loans : Where large loans are required the lending institution often needs to have a
guarantee that the loan will be paid back. This takes the form of a large item of capital outlay (typically a
house) which is owned or partly owned and the amount owned is atleast equivalent to the loan required.
Single Window System : Single window counters will enable the customers to get services at a single
counter.
SLR : It is known as Statutory Liquidity Ratio. Each bank is required statutorily maintain a prescribed
minimum proportion of its demand and time liabilities in the form of designated liquid asset. (OR)
Every Bank has to maintain a percentage of its demand and time liabilities by way of cash, gold etc.
Subprime crisis: The banks which have obligation to facilitate money flow may get struck their revenue
assets with insolvents and become toxic assets, the process is called subprime crisis.
Tax: A fee charged by a government on a product, income, or activity. If tax is levied directly on
personal or corporate income, then it is a direct tax. If tax is levied on the price of a good or service, then
it is called an indirect tax.
Time Deposit : Time deposit is a money deposit at a banking institution that cannot be withdrawn for a
certain term or period of time. When the term is over it can be withdrawn or it can be held for another
term.
Transfer pricing: This is one tactic played by some fraudulent MNCs which will have some suitcase
companies in tax heavens and purchase the share value of some reputed companies in a country by its
8A
A
Gr8AmbitionZ.com
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
intermediary in that country so that pricing of transferred shares will not have exact value.
UNCITRAL: United nations commission on International trade Law is an UN body looks after the
peaceful trade among countries without any legal problems and is denoted as the appellate authority for
legal violation of continental rules in trade and commerce.
VAT (Value added tax): It is an indirect tax on the consumption of the goods, paid by its original
producers upon the change in goods or upon the transfer of the goods to its ultimate consumers. It is
based on the value of the goods, added by the transferor. It is the tax in relation to the difference of the
value added by the transferor and not just a profit. All over the world, VAT is payable on the goods and
services as they form a part of national GDP.
WIPO: World intellectual property organization is a body looks after the issues of protection of
Intellectual property rights of a country of owner of patent, Marrakesh treaty for Blind rights is
associated with this organization.
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
Date
Chairman
Sep 2014
Shri G Gopalakrishna
July 2014
Shri B. Mahapatra
July 2014
Shri D.K.Mohanty
May 2014
Dr. P.J.Nayak
May 2014
Feb 2014
Febr 2014
Mr. B Sambamurthy
Jan 2014
Jan2014
Jan 2014
June 2013
Shri Y. H. Malegam
May 2013
Shri G. Padmanabhan
Sept 2011
Aug 2011
Usha Thorat
GGr
8A
A
Committee on
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
Aug 2011
M. Damodaran
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
Oct 2009
Aug 2009
Usha Thorat
Aug 2009
Mar 2009
Dr. C. Rangarajan
Aug 2008
Shri G. Srinivasan
Anil Kaushal Committee to examine the recommendations made by the TRAI on pricing of Spectrum.
Arvind Mayaram Committee for giving clear definitions to (FDI) and (FII)
Arvind Mayaram Pane report on the alleged irregularities at the National Spot Exchange Ltd (NSEL)
B. Sambamurthy Committee panel favours single mobile banking app on all SIMs.
Dr.Y.V.Reddy Committee The Standing Committee on International Financial Standards and Codes
K U.B. Rao the idea of setting up Bullion Bank or Bullion Corporation of India
8A
A
Portfolio Investment
GGr
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
Gr8AmbitionZ.com
Suma Verma Committee - to update, and revise the Banking Ombudsman Scheme, 2006
Vijay Kelkar Committee appointed by the Petroleum and Natural Gas Ministry to prepare a road map
to make India
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Vishnu Sahay Committee look probe into the Muzaffarnagar communal violence.
B Sivaraman Committee
Bhagwati Committee
Unemployment
Bhagwati Committee
C Rao Committee
Chatalier Committee
Public Welfare
Agricultural Policy
8A
A
Dharia Committee
DR Gadgil committee
Dutta committee
Goiporia committee
GGr
Hathi committee
Soiled banknotes
Industrial policy
Khanna committee
L K Jha committee
Indirect Taxes
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
Marathe committee
ML dantwala committee
Income distribution
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Mahalanobis committee
M V Nair committee
Narsimaham committee
P Selvam committee
Raja chelliah committee
Rajamannar committee
Rajamannar committee
RK Hajare committee
Shome committee
SS Tarapore committee
Tandon committee
Tandon committee
Thingalaya committee
Vaghul committee
Wanchoo committee
Gr8AmbitionZ.com
8A
A
Allahabad Bank
Andhra Bank
Bank of Baroda
Head / Chairman /
CMD
Rakesh Sethi
C.V. R. Rajendran
Vacant (Vice S. S.
Mundra)
V. R. Iyer
Sushil Muhnot
R. K. Dubey
Rajeev Rishi
Sadhu Ram Bansal
Ashwini Kumar
T. M. Bhasin
GGr
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of India
Corporation Bank
Dena Bank
Indian Bank
Vacant
(vice
Narendra)
of S. L. Bansal
Oriental
Bank
Commerce
Punjab & Sind Bank
Punjab National Bank
Syndicate Bank
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank
State Bank and Its
Associates
M.
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
Gr8AmbitionZ.com
Bank :
Reserve Bank of India (RBI) was established in 1935 and Nationalized in 1949.
Savings Account system in India was started by Presidency Bank, in 1833.
Cheque system was first introduced by Bengal Bank which was established in 1784.
Allahabad Bank is the oldest existing public sector bank in India.
Central Bank of India was the first public bank to introduce credit card.
Central Bank of India is the first commercial bank which was managed by Indians.
ICICI Bank was the first bank to provide Mobile ATM
Bank of Baroda has the maximum number of overseas branches.
Indias first Talking Automated Teller Machine (ATM) launched by Union Bank of India
(UBI) for visually impaired, was launched in Ahmedabad (Gujarat).
The National Payments Corporation of India (NPCI) launches Indias first rural bank ATM card
with a regional rural bank in Varanasi.
First bank established in India : Bank of Hindustan in 1770.
Second Bank : General Bank of India, 1786
The Imperial Bank of India (IBI) was the oldest and the largest commercial bank of the Indian
subcontinent. It was created in Jan 1921 by amalgamation of three presidency banks, those are,
o Bank of Bengal
o Bank of Bombay
o Bank of Madras
After nationalization in 1955, the Imperial Bank of India was named as State Bank of India
(SBI)
State Bank of India merged with three banks namely Bank of Bengal, Bank of Bombay and
Bank of Madras in 1921 to form the Imperial Bank of India which was converted as State Bank of
India.
First Indian bank got ISO : Canara Bank
First Indian Bank started solely with Indian capital investment is PNB (Punjab National Bank).
Founder of Punjab National Bank is Lala Lajpat Rai.
Reserve Bank of India (RBI) was instituted in 1935.
First Governor of RBI : Mrs. Osborne Smith
First Indian Governor of RBI : Mr. C. D. Deshmukh
First Bank to introduce Savings Account in India : Presidency Bank in 1833
First Bank to introduce Cheque System in India : Bengal Bank in 1833
First Bank to introduce Internet Banking : ICICI Bank
GGr
Bank is an institution which attracts deposits from the public and lends the
money to the needy persons at various interest rates.
Under Banking Regulation Act 1949, controls Banking Activities in India.
8A
A
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
8A
A
Gr8AmbitionZ.com
10
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
OVI (Optical Variable Ink) is used for printing currency which is imported from Switzerland.
Currency denomination is printed in 15 Languages.
Currency Notes Press, Nasik Road Denomination of 1, 2, 5, 10, 50, 100
Bank Notes Press, Dewas (MP) : 20, 50, 100, 500, 1000
Modenized Currency notes Press : at Mysore, Salboni (West Bengal)
Minting of Coins : Mumbai, Kolkata, Hyderabad, Noida (UP)
Indian Security Press, Nasik Road : Printing of Postal Stamps, Postal Material, Judicial, NonJudicial Stamps, Cheques, Bonds, NSCs, Indira Vikas Patra, Kisan Vikas Patra, Securities of States
and PSUs.
Security Printing Press Hyderabad (1982) : Printing of Court Fee Stamps, Commemorative
Stamps, Kisan Vikas Patra, NSS Certificates
1 rupee denomination printed under the control of Government of India.
1 Rupee note is signed by Finance Secretary, Ministry of Finance and other denominations are
Signed by the Governor, RBI
RBI authorized to print Rs. 2 to Rs. 1000 denomination.
Parliament photo is printed on Rs. 50 note
Dhandi Satyagraha picture is on Rs. 500 denomination.
Rs. 10 is the largest circulation denomination.
Rupee symbol is designed by Uday Kumar, Tamil Nadu.
The symbol adopted for the Indian Rupee is Devanagari Script.
Plastic Currency issued first by Australia.
India is planning to issue plastic currency in Rs. 10 denomination.
Basel Committee :
GGr
In 1988, the Basel Committee on banking supervision introduced the Basel-I accord or the risk
based capital requirements to deal with the weakness in the leverage ratio as a measure for solvency.
IT was the very first attempt to introduce the concept of minimum standards of capital adequacy.
Basel-I : Basel I addressed only one Credit Risk.
Basel-II norms : Unfortunately India could not fully implement this but it is now gearing up under
the guidance from the Reserve Bank of India to implement it from 1st April 2009.
Basel II : Basle II addresses 3 major pillars / Risks.
1. Credit Risk 60%
2. Market Risk 25%
3. Operational Risk 15%
Minimum capital to be maintained by banks under Basle II is 8%
Basel III norms are effective from 1st January 2013
RBI extended the timeline for full implementation of Basel III norms to 31st March 2019 instead of
31st March 2018.
Basel III proposes many new capital, leverage and liquidity standards to strengthen the
regulation, supervision and risk management of the banking sector.
8A
A
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
RTGS
Gr8AmbitionZ.com
11
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
NEFT
Minimum Amount
RTGS
Rs. 2 Lakhs
Maximum Amount
No upper ceiling
NEFT
No Minimum Limit (SBI PO
2014)
No upper ceiling
CTS : Cheque Truncation System (CTS) or Image-based Clearing System (ICS), in India , is a
project undertaken by the Reserve Bank of India (RBI), for faster clearing of cheques. CTS is
basically an online image-based cheque clearing system where cheque images and Magnetic Ink
Character Recognition (MICR) data are captured at the collecting bank branch and transmitted
electronically. Truncation means, stopping the flow of the physical cheques issued by a drawer to the
drawee branch.
IFSC (Indian Financial System Code) :
- Indian Financial System Code is an alphanumeric code that uniquely identifies a bank
branch participating in NEFT system.
- This is a 11 digit code with the first 4 alpha characters representing the bank, the 5th
character is 0 (zero) and the last 6 characters representing the bank branch.
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
8A
A
Gr8AmbitionZ.com
12
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
Gr8AmbitionZ.com
IFSC is used by the NEFT system to identify the originating / destination branks / branches
and also to route the messages approximately to the concerned banks / branches.
- For Ex : SBIN0015986
First 4 characters SBIN refers to State Bank of India
0 is a control number
Last six characters (015986) represents the SBI branch Jail Road, Hari Nagar, New
Delhi.
MICR : Stands for Magnetic Ink Character Recognition. MICR code is a numeric code which
uniquely identifies a bank branch participating in the ECS Credit Scheme. MICR code consists of 9
digits.
E.g.
400229128
(SBI PO 2014)
- First 3 digits represent the city (400)
- Next 3 digits represent the bank (229)
- Last 3 digits represent the branch (128)
BASIC SAVING BANK DEPOSIT ACCOUNT (BSBDA) : Under the guidelines issued on10th
August 2012 by RBI, any individual, including poor or those from weaker section of the society, can
open zero balance account in any bank. BSBDA guidelines are applicable to all scheduled
commercial banks in India, including foreign banks having branches in India.
PAN Card as of May 2010, the Income Tax Department in India has made it mandatory for all
Indians to have a PAN card (Permanent Account Number), irrespective of their tax filing status.
CRR : According to sect 42(I) RBI Act 1934, every bank licensed by RBI should keep certain
percentage its NKTL (net demand and time liabilities) with RBI in the form of cash is known as
CRR.
- No interest will be paid by RBI on CRR to the banks.
- The present CRR is 4.0%
- Till 22nd June 2006 the min CRR rate was 3% and max was 15%.
- Now there is no limit on max & minimum on CRR.
- RBI decreases CRR to promote economic growth of the country.
SLR (Statutory Liquidity Ratio) :
- Seciton 2(A) of Bankign Regulation Act 1943 says SLR is the percentage of NDTL that
banks need to maintain as reserves in the form of approved securities, gold and cash.
- The present SLR is 22 %
- The max SLR is 40%.
Repo Rate :
- Repo is the rate at which RBI lends to commercial banks as term loans by keeping their
securities with RBI to meet their short term needs (Repo-Repurchase).
- The present Repo Rate is 8%
Reverse Repo Rate :
- The process of borrowing money from banks by RBI by keeping its securities as collateral
with banks is known as Reverse Repo.
- The interest paid by RBI to banks on such borrowing is known as Reverse Repo Rate .
- The regular infection & absorption of liquidity through repo and reverse repo process by
using securities as collateral is known as liquidity adjustment facility.
GGr
8A
A
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
13
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
8A
A
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
14
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
payee and affixes his full signature with the words crossing cancelled pay cash, it becomes
an open cheque.
Crossed Cheque : A cheque which carries two parallel transverse lines across the face of the
cheque with or without the words I and co, is said to be crossed.
Gift Cheques : Gift cheques are sued for offering presentations on occasions like birthday,
weddings and such other situations. It is available in various denominations.
Travellers Cheques : It is an instrument issued by a bank for remittance of money from one
place to another.
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
8A
A
GGr
Imperial Bank of India acted as central bank of our country from 1921 to 1935.
Imperial Bank of India was nationalized and renamed as State Bank of India in 1955.
First Chairman, A. D. Gorwala.
SBI has 7 Subsidiaries (SBI Ground). They are : State Bank of Hyderabad, Mysore, Indore,
Patiala, Saurashtra, Travancore, Bikaner & Jaipur. All these were formed in 1959.
The total number of associate banks of SBI currently working in the country is Five
SBI is the largest commercial bank of India
SBI launched a New Scheme Parvartan to attract more customers by rendering better
services.
SBI has introduced the Tiny-Card with biometric identification to achieve Financial
Inclusion. Tiny-Card provides easy banking services for under privileged communities.
SBI Head Quarters : Mumbai
State Bank of India launched Mobi Cash Eash a mobile wallet service that allows users to
transfer funds and make bill payment easily using Mobile Phone.
On 7th October 2013, Arundhati Bhattacharya is appointed as the first lady chairperson for
SBI.
SBI & Associated Banks :
15
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
On 19th July 1969 Central Government (Indira Gandhi) nationalized 14 Indian origin banks
and on 15th April 1980 again nationalized other 6 Indian origin banks.
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
GGr
Head
Established
Office
Year
1
Allahabad Bank
Kolkata
1865
2
Bank of Baroda
Baroda
1908
3
Bank of Maharashtra
Pune
1935
4
Bank of India
Mumbai
1906
5
Central Bank of India
Mumbai
1911
6
Canara Bank
Bangalore
1906
7
Dena Bank
Mumbai
1938
8
Indian Bank
Chennai
1907
9
Indian Overseas Bank
Chennai
1937
10
Punjab National Bank
New Delhi
1895
11
Syndicate Bank
Manipal
1925
12
Union Bank of India
Mumbai
1919
13
United Commercial Bank (UCO Bank)
Kolkata
1943
14
United Bank of India
Kolkata
1950
15
Andhra Bank
Hyderabad
1923
16
Corporation Bank
Mangalore
1906
17
Oriental Bank of Commerce
New Delhi
1943
18
Punjab and Sindh Bank
New Delhi
1908
19
Vijaya Bank
Bangalore
1931
20
IDBI Bank Ltd
Mumbai
1964
21
ECGC (The Export Credit Guarantee Corporation of India Mumbai
1957
Ltd)
Note : In 1993, the New Bank of India merged with Punjab National Bank due to the incurring
losses.
Bharatiya Mahila Bank was established on 19th November 2013 on the occasion of the 94th birth
anniversary of former Indian Prime Minister Indira Gandhi.
RBI Permits 4 Non bank entities to set up white label ATMs :
The Reserve Bank has issued Certificate of Authorization to four non bank entities :
Tata Communications Payment Solutions
Muthoot Finance
Prizm Payment Services and
Vakrangee Ltd., to set up White Label ATMs (WLAs) in the country.
Note : Most of the ATMs belong to banks, but the cash dispensing machines which are owned and
operated by non banking companies are called White Label ATMs.
RBI permits Srei to roll out White Label ATMs : Srei Infrastructure Finance is planning to start
roll out its White Lable ATMs (WLAs) between July and September starting with a pilot of 200 Tier
III towns in Uttar Pradesh and Bihar.
New bank license period 18 months
(SBI PO 2014)
New bank licenses paid up capital 500 Cr
(SBI PO 2014)
Asian games after which country withdrawal India ready to conduct ? Vietnam (SBI PO 2014)
8A
A
16
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
Gr8AmbitionZ.com
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Stock Market
A Stock market is a public or private market for the trading of company stock and derivatives of
company stock on agreed price. These are securities listed on a stock exchange.
It was established in the year 1988 and given statutory powers on 12th April 1992.
The headquarters of SEBI is located in the business district of Bandra Kurla complex in
Mumbai.
The Chairman of SEBI Upendra Kumar Sinha (U K Sinha)
The whole time member of SEBI Prashant Saran
The first Chairman of SEBI was Dr. S. A. Dave
8A
A
RBI introduced KYC in Banking sector under 35(A) of Banking Regulation Act 1949.
This KYC was introduced in August 2002.
To identify the people who wants to transact with any bank and to know about the customer before
opening an account. This process involves verification of customers id proof & address proof.
The main objectives of KYC are :
o To prevent money laundering
o To prevent money transfer to and from illegal activities.
o Money Laundering : Acquiring, Owning, Processing (or) Transferring of money earned
through crime (or) knowingly entering in to any transaction related to crime within (or)
outside India (or) it is the process of conversion of illegally obtained money.
GGr
The Reserve Bank of India on 2nd September set new Know Your Customer (KYC) rules to
facilitate opening of bank accounts for foreign students studying in India.
Banks can open Non-Resident Ordinary (NRO) accounts for foreign students on the basis of their
passports after verifying their visa and immigration details and on production of the admission letter
from an educational institution, RBI said in a circular.
17
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
Gr8AmbitionZ.com
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
The Institute of Banking Personnel Selection (IBPS) is an autonomous agency in India, which
started its operation in 1975 as Personnel Selection Services (PSS). In 1984, IBPS became an
independent entity at the behest of Reserve Bank of India (RBI) and public sector banks.
The First Chairman of its Governing Board was Dr. Manmohan Singh, the Governor of RBI (at
that time).
Present Chairman of IBPS : T. M. Bhasin
Director of IBPS : Anup Shankar Bhattacharya
The SIDBI Act was passed by the Parliament on October 1989 and the bank commenced its
operations from 2nd April 1990.
Headquarters : Lucknow (U.P)
Mr. Susheel Muhnot is the Chairman of SIDBI
8A
A
GGr
The Industrial Development Bank of India (IDBI) was established on 1st July 1964 under an Act
of Parliament as a wholly owned subsidiary of the Reserve Bank of India.
On 16th February 1976, the ownership of IDBI was transferred to the Government of India.
Headquarters of IDBI is at Mumbai, India.
Chairman and Managing Director of IDBI is Ms. Raghavan.
18
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
Established in : 1945
IBRD Head Office : Washington DC
President : Jim Yong Kim
Established : 1997
Head Office : Mumbai
Chairman : Rajiv B. Lal
On 1st September 1956 Life Insurance Corporation of India was established with the capital of Rs. 5
Crore given by the Government of India.
Head Office : Mumbai, India
LIC Chairman : S. K. Roy
7 Zonal Offices : Mumbai, Delhi, Chennai, Bhopal, Hyderabad, Kanpur, Kolkata
GGr
8A
A
Subsidiaries of GIC
National Insurance Company Limited
New India Assurance Company Limited
Oriental Insurance Company Limited
United India Insurance Company Limited
EXIM (Export-Import) Bank of India
Micro Finance :
19
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
Micro Finance represents an economic activity to promote employment and growth through the
support of micro-entrepreneurs and small businesses, of the low-income household, by extending
various financial services, such as Loans, Savings, Money Transfer, Insurance Services etc.
The Father of Micro Finance : Md. Yunis Khan (Bangladesh)
Y. H. Malegam is the chairman of the committee constituted by RBI to study issues and concerns in
the Micro Finance Institutions.
NASSCOM
ASSOCHAM
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
8A
A
International Monetary Fund (IMF) was set up by 44 Nations under the Bretton Woods
Agreement of July 1944. This institute was established on 27th December 1945. But it is started its
function on 1st March 1947.
Headquarters : Washington D.C., United States
Members 188 Nations (Founding), 188 Nations (To Date) 188 Countries, 29 Countries (Founding)
GGr
20
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
8A
A
GGr
21
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
GGr
8A
A
22
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
Banking Awareness
GGr
8A
A
23
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
o The long term vision of the Jan Dhan Yojana is to lay the foundation of a cashless
economy and is complementary to the Digital India Scheme.
o This scheme has set an ambitious target of bringing in more than 7.5 crore un-banked
families into Indias banking system by opening more than 15 Crore bank accounts at the rate
of two bank accounts per household.
o Every individual who opens a bank account becomes eligible to receive an accident insurance
cover of up-to Rs 1 Lakh for his entire family.
o Once the bank account has been active for 6 months and has been linked to account holders
Aadhar identity , they would become eligible for an overdraft of up to Rs 2,500 , which
would further be enhanced by the bank to Rs 5000 over time.
o The mission will be implemented in two phases. .
Phase-I from 15th August 2014 to 14th August 2015.
Phase-II from 15th August 2015.
o Banks have opened around 5 crore accounts under the Jan Dhan Yojana scheme and collected
over 3,500 crore rupees in deposits.All these accounts will be seeded to the Aadhar number
and will have biometrics to avoid the duplication.
4th Bi-Monthly Monetary Policy Review Highlights
o The Reserve Bank of India (RBI), in its fourth bi-monthly credit policy review (29th
September 2014) has kept repo, reverse repo, cash reserve ratio (CRR) and bank rate
unchanged. The fifth bi-monthly monetary policy statement is scheduled on Tuesday, 2nd
December 2014.
o Current Rates of RBI
Repo Rate..............................8%
Reverse Repo Rate................7%
CRR.......................................4%
Bank Rate...............................9%
SLR........................................22%
o RBI retains growth projection for current fiscal at 5.5%.
o Can reach inflation target of 6% by January 2016 said RBI.
India GDP Forecast :
o RBI pegged 2014-15 GDP growth at a central estimate of 5.5%.
o World Bank lowers Indias GDP growth forecast for 2014-15 at 5.5% from the earliest
forecast of 5.7 per cent.
o ADB pegs India GDP growth rate for 2014-15at 5.5%.
o IMF projected GDP growth for India in 2014-15 at 5.4%
Union Government granted Navaratna Status to EIL (Engineers India limited) and NBCC
(National Building Construction Corporation)
Union MSME Ministry Launched online Finance Facilitation Centre for SMES.
SEBI issued new norms for public issuance of debt securities.
The SEBI has imposed a penalty of 13 crore rupees on Reliance industries limited for alleged
irregularities in issuance of warrants by the company to its promoters.
Plastic Currency notes to be launched in 2015.
RBI allowed the minors of age above 10 years to open Savings bank account.
8A
A
Gr8AmbitionZ.com
24
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
8A
A
Gr8AmbitionZ.com
25
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
committed at Dena Bank and OBC. Banks have been advised to categorise fixed deposits, which
may fall under high value criteria.
KC Chakrabarty, Deputy Governor, Reserve Bank of India has quit three months ahead of
completion of his term on 20th March 2014. He was replaced by R. Gandhi on 3rd April 2014.
Inflation data based on wholesale price index (WPI) for August hit a five year low at 3.74 percent
declining vegetable prices and other food articles. August WPI inflation stood at 5.19 percent in July.
India has decided not to impose anti-dumping duty on imports of solar panels from countries
like the US and China.
Total telephone subscriber base in India rose marginally in July to reach 94.64 crore, with 34.5
lakh users added during the month, sectoral regulator Telecom Regulatory Authority of India (Trai)
said.
Kicking off the mega disinvestment drive, government approved the sale of shares in Coal India ,
ONGC and NHPC to garner a combined Rs 43,000 crore.
Government approves an over Rs 5,300 crore project to boost telecom infrastructure and
connectivity in North East India.
The Reserve Bank of India (RBI) allowed banks to take action against guarantors on a loan, even
without exhausting the remedies against the principal debtor, in case of a wilful default.
Travel industry body International Air Transport Association (IATA) said that India's domestic
market increased by 7.4 percent in August over the previous year.
Core sector growth for the month of August picked up with eight core sector industries growing
by 5.8 percent against 4.7 percent in same month last year. The July core sector data was 2.7
percent.
Cochin International Airport Limited (CIAL), the countrys first green-field airport in the
public-private partnership mode, has handed over a cheque of Rs.17.76 crore to the Kerala
government as its share of profits for the last fiscal.
World's largest asset manager Blackrock will host a global investors meet in India next year.
Top Indian lender State Bank of India on 24th September, announced that its board had approved
stock split of one share into 10 shares. SBI will reduce the face value of each equity share to 1
rupee from 10 rupees now. Punjab National Bank and ICICI Bank approved stock splits in
September.
SBI Launches 3 Digital banking facilities for its customers.
o Tab Banking for Savings A/C : Opening Savings A/C at Customers door step using tablet
PC provided to the Banks Sales Staff (who visit the Customers Home).
o TAB Banking for Home Loan : In principle approval for the home loan at customers door
step using tablet PC provided to the Banks Home Loan Sales Team which will capture on
the tablet KYC details.
o eKYC : Generates eKYC (Know Your Customer) identity document.
The Union Cabinet gave its approval for the release of a 7 per cent additional installment of
Dearness Allowance (DA) to Central Government employees. It also approved Dearness Relief
(DR) for pensioners. Both DA and DR will become effective from July 1, 2014.
The government has asked 12 state -run PSUs like SAIL, NTPC and DVC to immediately furnish
all details of any joint ventures formed by them related to 20 coal blocks allocated for captive use
for submission to the Supreme Court, which is looking into the issue.
8A
A
Gr8AmbitionZ.com
26
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Unveiling a slew of amendments in the implementation of the Basel 3 regulations, the Reserve Bank
of India has allowed banks to issue additional Tier 1 capital instruments, the principal amount of
which would absorb losses, either through conversion into common shares or a write-down
mechanism that allocates the losses to the instruments, either temporarily or permanently.
In a major overhaul of its functioning, capital markets watchdog SEBI has fixed one-year target for
completion of all its investigations, while sharply focusing on cases involving bigger offences. There
are 221 investigations pending with Sebi right now.
In an apparent sign of revival, the Indian economy expanded by 5.7 per cent during the first
quarter of the current financial year to log the highest growth yet in nine quarters.
The Bombay Stock Exchange (BSE) launched and Institutional Trading Platform (ITP) to help
Small and Medium Enterprises (SMEs) and start up companies to list on the bourses without an
Initial Public Offer (IPO).
Bank of India (BOI) has become the first Indian Bank to extend a bridge loan of $200 million to
Air India to finance the purchase of two Boeing 787 Dreamliner Aircraft.
India leads global remittances with USD 70 bn in 2013. Indias neighbour China follows second
with USD 60 billion, said the World Bank Report.
World Trade Organization (WTO) projected that the world trade will grow by 4.7 percent in
2014.
The World Bank will give 12 billion dollars loan to Pakistan over the next five years to help lift
its economy.
Qatar based Doha Bank announced its first branch in Mumbai. The branch in Mumbai was opened
as a full fledged bank in May 2014.
o Note : Bank of Bahrain & Kuwait, Abu Dhabi Bank are the two other banks from Arab
countries to have operations in India before Doha Bank.
Bank of India (BOI) launched Instant Money Transfer (IMT) scheme in Mumbai.
o Note : IMT Scheme allows customers to withdraw cash without using either debit card or
credit card at BOIs IMT enabled ATMs. This is the first of its kind initiative launched by a
public sector bank.
Kotak Mahindra launches accounts integrated with Facebook, Twitter.
ICICI Prudential Mutual Fund has bagged Morningstar Indias best fund house award in the debt,
equity and multi asset category.
An Asian Development Bank (ADB) report of 1st April 2014 stated that Indias GDP is poised to
accelerate to 5.5 per cent in 2014-15 on the back of improved performance in industry and services
but it may take some time for the country to reach its potential growth rate.
Inflation based on Wholesale Price Index (WPI) reached a 3 month high of 5.7% in March 2014.
Wholesale Inflation falls to 9 month low of 4.68 percent in February
Kotak Mahindra Bank announced the launch of Jifi, a first of its kind fully integrated social bank
account that transcends normal digital banking by seamlessly incorporating social networking
platforms like Twitter and Facebook with mainstream banking.
Export-Import Bank of India extended a Line of Credit of $89.90 million to the Government of
Republic Congo, for development of transportation system in the Republic of Congo.
8A
A
Gr8AmbitionZ.com
27
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Central Bank of India has sold its entire stake in credit information provider CIBIL to Transunion
International Inc. Central Bank had a 5 Percent stake in CIBIL while Transunion is the majority
shareholder in CIBIL at 27.5 percent.
Canara Bank names cricketer Shikhar Dhawan as its brand ambassador.
Housing Development Finance Corporation (HDFC) Bank set World record for Blood
collection in a single day. The donation camp organized by HDFC Bank on 6th December 2103 was
recorded in the Guinnes Book of Records.
The World Bank has said it would provide upto $ 3 billion in aid for Ukraine in 2014 to help the
country deliver much needed economic reforms.
Max Life Insurance has tied up with Toyota Financial Services India Ltd to provide insurance
cover to car loan customers.
Bihar emerges as fastest growing state (15.05 percent) in 2012-13 : CSO report.
o Note : According to the CSO data, Gujarat ranked 6th with growth rate at 7.96 percent,
behind Bihar and Madhya Pradesh with 9.89 percent, Goa 8.47 percent, Kerala 8.24 percent
and Odisha 8.09 percent. The all India growth rate in 2012-13 was 4.47 percent.
Indian Bank has bagged national award for excellence in lending micro enterprises for
consecutive second year.
A RBI committee on Financial Inclusion headed by Nachiket Mor suggested setting up a new set
of banks called Payment Banks to widen the spread of payment services and deposit products to
small business and low-income households in Asia.
After launching accounts on Facebook and Youtube, the countrys largest bank SBI launched a
twitter account on 4th April 2014 at https://twitter.com/TheOfficialSBI.
As per a report by World Bank, India stood at 1st place in world in terms of receiving money
from non-residents.
As per World Bank Projections, Indian Economy is expected to grow at 5.7% during FY 201415.
Asian Development Bank (ADB) has provided $400 million first tranche line of credit to India
Infrastructure Finance Company Ltd (IIFCL) to help accelerate infrastructure growth through
increased private sector investment.
Asian Development Bank (Headquarters Manila (Philippines) has predicted 5.5% GDP growth rate
for India in FY 2014-15.
RBI sets the maximum age for Managing Directors and Chief Executive Officers in private sector
banks at 70.
Asian Development Bank will provide USD 275 million loan for improving rural road connectivity
in five states including Assam, Chattisgarh Madhya Pradesh, Odisha and West Bengal in the country.
Axis Bank, Indias third largest private sector bank has launched Asha Home Loan, a 30 year
home loan product for first time home buyers in the lower income segment based on the family
income.
Bank of India became first Indian Bank to start ITM (Instant Money Transfer) Service that
enables to withdraw money from the ATM without having a Bank Account.
Bharatiya Mahila Bak (BMB), the first all women bank, tied with New India Assurance to launch
health insurance products for women account holders of the bank.
8A
A
Gr8AmbitionZ.com
28
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Bharatiya Mahila Bank (BMB) and SBI Cards have joined hands for roll out of credit cards to
customers on Indias first women focussed commercial bank.
Bimal Jalan Committee on new Bank License has submitted its report to the Reserve Bank of
India.
Chattisgarh has been ranked on Top in RBIs Report State Finances A Study of Budget of
2013-14 based on various Fiscal Parameters.
Children older than 10 years can now operate savings bank account on their own and no longer
need the help of their parents or guardians to open and operate it. To boost financial inclusion, the
Reserve Bank of India (RBI0 said that banks were at liberty to allow minors above 10 years to
independently open and operate savings bank accounts. (SBI PO 2014)
Corporation Bank has bagged the awards for lending to MSE (Micro and Small Enterprise) and to
Micro enterprises from the Union Ministry of Micro, Small and Medium Enterprises (MSME)
Countrys largest bank SBI has launched a financing scheme for women fashion boutique
owners. Labelled Boutique Financing, the scheme is designed to offer working capital expenses
as well as term loan for boutique owners.
Domestic banks will need US $200 billion additional capital over the next five years to meet Basel
III norms for capital adequacy and the demand for funds as growth picks up, Fitch has recently
announce.
Economic growth in India projected at 5.35% in 2014, says UN report.
EPFO (Employees Provident Fund Organization) which is the Regulator of Retirement Fund of
Government Employees in India, decided to increase rate of interest on Provident Fund deposits to
8.75% from 8.5% earlier.
Ex-Chairman of Axis Bank, P. J. Nayak is the head of the expert panel to review bank boards
governance. The panel will review the RBI's regulatory guidelines on ownership of banks and
representation in their boards, among other things.
Exim Bank has extended USD 46 million line of credit to Mauritius for financing goods and
defence related vehicles purchases.
Foreign investment of 10 per cent or more in a listed company will now be treated as FDI as the
government has accepted the report of a committee on rationalising definitions of FDI and FII.
Global rating agency Moody on 22 September 2014 released a report titled Indian Banks Could
Need 26-37 billion US dollar in External Capital for Basel III Compliance. In the report it
revealed that 11 Indian public sector banks (PSBs) need to raise 26 to 37 billion US dollar in
external capital in the financial year 2015 in order to meet the Basel-III capital adequacy norms by
financial year 2019.
Government approved increasing Foreign Equity in Axis Bank from 49% to 62%.
Govt launches inflation indexed saving bonds which offer protection to retail investors from price
rise. The minimum limit for investment is Rs. 5,000 and the maximum is Rs. 5 lakh per applicant per
annum. Interest rate would be linked to Customer Price Index (CPI).
HDFC Bank with a brand value of $ 9.4bn is Indias most valuable brand according to the first
edition of the BrandZ Top 50 Most Valuable Indian Brands ranking that was announced on 19th
August 2014.
ICICI Bank offers Cardless Cash Withdrawal at ATMs.
ICICI Bank, the countrys largest private sector lender, has introduced an equated monthly
instalment (EMI) option for its customers on debit card purchases.
8A
A
Gr8AmbitionZ.com
29
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
IIFCL (Indian Infrastructure Finance Company Ltd) signed an agreement with EXIM Bank of
Korea for Infrastructure Finance.
IMF projected 5.4 percent economic growth for India in 2014-15.
India has replaced Japan as the 3rd Largest economy in 2011, according to the data released by
the International Comparison Program of the World Bank. The US has retained the top spot followed
by China.
Indias first post office savings bank ATM inaugurated in Thyagaraya Nagar, Chennai.
Indian Overseas Bank launched Connect Card, a new ATM cum Debit Card in association
with VISA that can be used for e-commerce across five lakh merchant outlets.
Japan-based Mt Gox, which was the Worlds Largest bitcoin exchange filed for bankruptcy.
LIC has re-launched its Jeevan Anand plan, a participating non linked plan which offers an
attractive combination of protection and savings.
Milk and Dairy products major Mother Dairy Fruit & Vegetable Pvt. Ltd. announced its strategic
tie-up with State Bank of India (SBI) to launch SBI - Mother Dairy SmartChange Card for
Mother Dairy Milk Booths in Delhi & NCR. This first-of-a-kind initiative in the dairy industry will
facilitate consumers towards a more convenient mode of payment at Mother Dairy milk booths.
Ms. Lakshmi Swaminathan has become the 1st Indian to be elected as the President of the
Administrative Tribunal of the Asian Development Bank (ADB).
Muthoot Finance, Prizm Payment Services and Vakrangee Ltd. , to set up White Label ATMs
(WLAs) in the country.
National Bank for Agriculture and Rural Development (NABARD) has reduced refinance rate
for banks and other lending agencies by 0.20 percent to promote rural credit and rural infrastructure.
Oriental Bank of Commerce became first bank which introduced the e-KYC (electronic Know
Your Customer) facility.
Private sector lender IndusInd Bank has launched a new customer-centric service titled Video
Branch. This offering enables the customers to do a video conference with the bank staff. They can
schedule a video call with the Branch Managers/Relationship Mangers or connect to the central
Video Branch instantly.
Public Sector General Insurer New India Assurance announced a Health Insurance cover New
India Asha Kiran for Girl Child. Health insurance rate are cut by 50 percent for the girl child
under this scheme along with a personal accident cover for parents.
Qatar-based Doha Bank is going to acquire the Indian assets of HSBC Bank Oman SOAG. The
board of Doha Bank has authorised the purchase of the Indian assets of HSBC Bank Oman SOAG,
and has called a shareholders' meeting in November to approve the deal.
Raghuram Rajan, the Governor of the Reserve Bank of India (RBI) announced that plastic currency
notes will be launched in 2015 after field trials.
RBI extended the timeline for full implementation of Basel III norms 31 March 2019 instead of
31 March 2018.
RBI has cut the number of free transactions that savings bank customers can avail from other
bank's Automated Teller Machines (ATMs) from the present five to three a month. It has also
allowed banks to charge customers if they use their own bank ATM more than five times a month.
New charges will apply for transactions done at ATMs located in six metro centres, namely,
Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad.
RBI has decided that Indian companies will not be permitted to raise External Commercial
Borrowings from overseas branches or subsidiaries of Indian banks for refinance or repayment of
the Rupee loans raised from domestic banking system.
8A
A
Gr8AmbitionZ.com
30
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
RBI has granted an additional nine months for the public to exchange currency notes printed
before 2005, including Rs 500 and Rs 1,000 denominations, and set a deadline of January 1, 2015.
RBI panel (headed by banker Nachiket Mor) has suggested setting up of specialised banks to
cater to low income households to ensure that all citizens have bank accounts by 2016.
RBI panel headed by exChairman of Axis Bank, P. J. Nayak recommend for diluting govt stake
in public sector banks to below 50 %. The government should cut its holding in public sector
banks to under 50 per cent, a Reserve Bank of India (RBI) panel report on Tuesday said, criticising
the way in which the lenders are now being governed.
RBI panel headed by RBI Deputy Governor Anand Sinha has recommended bringing a
benchmark floating interest rate, especially for home loans. Panel also suggested Indian Banks
Base Rate (IBBR).
RBI pegged 201415 GDP growth at a central estimate of 5.5 percent, economic growth for
201415 expected at 5.5 pc., CAD expected to come down to 2 pc of GDP in 201415.Retail inflation
to be 6pc.
RBI on 7th February 2014 permitted 4 nonbank entities to set up white label ATMs:
o Tata Communications Payment Solutions Ltd
o Prizm Payment Services Pvt. Ltd
o Muthoot Finance Ltd
o Vakrangee Ltd
On 27th March 2014 RBI permits Srei to roll out white label ATMs: Srei Infrastructure Finance is
planning to start rollout of its while label ATMs (WLAs) between July and September starting with
a pilot of 200 TierIII towns in Uttar Pradesh and Bihar.
RBI relaxes gold loan norms: The Reserve Bank of India has allowed NonBanking Financial
Companies, NBFCs to lend up to 75 per cent of the value of gold. It was 60 per cent earlier.
RBI scraps 26% cap on interest rate for MFIs: (RBI) removed 26 per cent cap on the interest rate
that can be charged by a microfinance company to its borrowers. MFI is allowed to charge interest
rate equal to 2.75 times the average of the base rates of the top five commercial banks.
RBI tightens norms for credit card holders: RBI advised banks to treat a credit card account as a
nonperforming asset if the customer fails to pay the minimum due amount within a stipulated 90
day period.
Reserve Bank of India (RBI) has hiked the trade related remittance limit from Rs. 2 lakh to Rs.
5 lakh per transaction amid increased number of transactions handled by Exchange Houses.
Reserve Bank of India asked banks not to levy penal charges on customers who dont maintain
a minimum balance in basic savings bank accounts.
Reserve Bank of India has warned all domestic banks to take steps before Microsoft ends its
Windows XP software support from 8th April 2014.
Retirement fund body EPFO decided to increase the rate of interest on Provident Fund deposits
to 8.75 percent from 8.5 percent.
SEBI grants new status to three clearing corporations ( National Securities Clearing Corporation,
Indian Clearing Corporation and MCX-SX Clearing Corporation).
SEBI approved the new Corporate Governance norms. The new corporate governance norms
would become applicable for all listed companies with effect from 1st October 2014.
State Bank of India (SBI) in tie-up with MasterCard on 8th September launched its first multicurrency international card to allow consumers to use a single card to pay in multiple currencies.
State Bank of India (SBI) on 13 September 2014 celebrated 150 years of its operations in Sri
Lanka.
State Bank of India (SBI), ICICI Bank and Federal Bank Limited launched Savings account
8A
A
Gr8AmbitionZ.com
31
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
schemes for minors above 10 years of age. These accounts, which will be opened in the name of
the minor, will offer a personalised cheque book and a debit card with a picture of his or her choice,
the bank said in a statement.
State Bank of India launched off its channel on popular video sharing website Youtube.
State Bank of India launched three digital banking facilities at the customers door step using
TAB Banking; one for customers opening Savings Bank accounts and another for Housing Loan
Applicants. The Third is e-KYC (Know Your Customer).
State-run IDBI Bank has recently announced that it had entered into an agreement with FICCI,
under which it would finance the industry lobby's small business members.
TATA Communications Payment Solutions Limited installed its 1000th White Lable ATM
under the name INDICASH. (SBI PO 2014)
TCS became the first Indian Company to achieve a market capital value of 5 Lakh crore
rupees.
The Axis Bank which is India's third largest private bank has been featured in Forbes Asia's FAB
50 list of 2014. This is the fourth time that Axis Bank has been featured and is amongst the only two
banks in this renowned list.
The Bank of Bahrain and Kuwait, BBK, plans to expand its operations in India by opening its
fourth branch in the country in New Delhi.
The Bank of Japan (BOJ) and RBI concluded an agreement that expands the maximum amount of
the Bilateral Swap Arrangement (BSA) between the two countries to USD 50 billion.
o Note : BOJ Governor is Haruhiko Kuroda and RBI Governor Raghuram Rajan
The Bharatiya Mahila Bank has launched Nanhi Kali, a recurring deposit scheme for the girl
child upto the age of 13 years with minimum monthly investment of Rs. 50 or a higher amount in
exact multiples of Rs. 50. Rate of Interest would stay the same and the scheme also includes an
accidental cover.
The Competition Commission of India (CCI) approved American retail giant Walmart Stores
Incs proposal to acquire Bharti Groups nearly 50 percent stake in their Indian wholesale stores
joint venture.
The deadline for switching to new format bank cheques under the Cheque Truncation System (CTS)
ended on 30 April 2014.
The Employees Provident Fund Organization will provide a permanent or universal account
number (PAN) on the patter of core banking services to its over five crore active subscribers by end
of 2014.
The expert committee headed by Urjit R. Patel, Deputy Governor of the Reserve Bank of India
examine the current monetary policy framework of the Reserve Bank of India (RBI) has
suggested that the apex bank should adopt the new CPI (consumer price index) as the measure
of the nominal anchor for policy communication. The nominal anchor or the target for inflation
should be set at 4 per cent with a band of +/ 2 per cent around it.
The Finance Ministry has asked public sector banks to tighten norms, including KYC
monitoring for high-value fixed deposits, to check the kind of frauds suspected to have been
committed at Dena Bank and OBC.
Banks have been advised to categorise fixed deposits, which may fall under high value criteria.
The Indian Banks Association (IBA) has issued an advisory to banks to ensure business continuity
after Microsoft ends support for its popular Windows XP operating system on 8th April.
The Indian Government is going to implement GST (Goods & Services Tax) new indirect tax
8A
A
Gr8AmbitionZ.com
32
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
regime from 1st April 2016. India has inked a loan agreement with World Bank for an assistance of
$153 million (about Rs. 920 crore) for the Odisha Disaster Recovery Project.
The National Bank for Agriculture and Rural Development (NABARD) projected a credit
potential of Rs. 12726.83 crore in the state focus paper (SFP) for the year 2014-15 in Uttarakhand
under the priority sector.
The National Bank for Agriculture and Rural Development has sanctioned Rs. 348.63 crore to
Karnataka under Rural Infrastructure Development Fund (RIDF).
The RBI on 2nd April 2104 has announced that it is granting in-principle approval to two
applicants viz., IDFC Limited and Bandhan Financial Services Private Limited, to set up banks
under the Guidelines on Licensing of New Banks in the Private Sector.
The RBIappointed committee on financial inclusion has recommended that the central bank
should set up specialised banks called Payments Bank to provide payment services and deposit
products to small businesses and lowincome households. The committee, headed by Nachiket
Mor, said that since the new bank will be dealing with poor customers, such a bank must be allowed
to accept a maximum deposit of not more than Rs 50,000.
The Reserve Bank of India (RBI) had set up a panel under executive director Deepak Mohanty
to review the current system of data collection, dissemination and data management processes in the
central bank and improve the existing mechanism.
The Reserve Bank of India (RBI) has adopted the new Consumer Price Index (CPI) (combined)
as the key measure of inflation.
The Reserve Bank of India has kicked off a pilot project that will allow a few mobile payment
providers to test cash withdrawal facilities for a small portion of their semi-closed mobile wallet
users.
The Reserve Bank of India has proposed segregation of chairman and managing director
(CMD) posts and a separate committee for appointment of directors on the board of PSU banks.
The Reserve Bank of India has raised the Foreign Institutional Investors, FIIs investment limit
in the Power Grid Corporation to 30 per cent of its paid up capital, under the Portfolio Investment
Scheme.
From 20th June 2014, The Reserve Bank of India permitted residents and non-residents, except
Pakistanis and Bangladeshis, to carry up to Rs. 25,000 in Indian currency notes while leaving the
country.
The State Bank of India (SBI), the countrys largest lender on 26 September 2014 announced that
it has signed a Line of Credit (LoC) of 500 million dollar with Export-Import Bank of Korea
(Korea Eximbank).
The UPA government's decision to ensure minimum monthly pension of Rs. 1,000 to subscribers
of Employees' Pension Scheme-95 (EPS-95) will be implemented now as the elections are over.
The World Bank has approved a $300 million 30-year loan to help Serbia recover from floods in
May that killed 57 people and devastated its energy sector.
The World Bank has signed an agreement with the government to provide a loan assistance of
USD 1,006.20 million for Sarva Shiksha Abhiyan III, which is the largest ongoing "Education for
All" programme in the world.
The World Bank said it is ready to commit $15-18 billion to support India over the next three
years, even as its president endorsed the business model of Gujarat, the state that Narendra Modi
ruled for over a decade before he became the Prime Minister in May.
The worlds first Bitcoin storage service that insures deposits of the digital currency against
hackers and accidental loss has opened in London.
UN projected the global economy to grow at a pace of 3 percent in 2014 and 3.3 percent in 2015.
8A
A
Gr8AmbitionZ.com
33
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
WB (World Bank) projected economic growth rate of 5.7% for India in 2014-15 fiscal.
World Bank approved a loan of $ 160 Million for Roads Sector Modernization Reformation
Project in Rajasthan.
World Bank decided to double the credits to be given to India, China, Brazil, Mexico and
Indonesia.
World Bank Group (WBG) and International Monetary Fund (IMF) Spring Meetings were held in
Washington D.C.., USA.
World Bank provides 50 million dollars assistance to Afghanistan to support the governments
efforts to improve access to credit for micro, small and medium enterprises.
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
Bank
Standard
Chartered
Bank
Royal
Bank
of
Scotland
Berclays Bank
Citi Bank
JP Morgan Chase
Bank
Bank of America
ABN AMRO Bank
Abu
Dhabi
Commercial Bank
Bank of Ceylon
BNP Paribas Bank
Societe Gednerale
China
Trust
Commercial Bank
Deustsche Bank
Scotia Bank
DBS Bank
Country
UK
UK
UK
USA
USA
USA
The Netherlands
UAE
Sri Lanka
France
France
Taiwan
Germany
Canada
Singapore
GGr
8A
A
34
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
GGr
8A
A
CC Cash Credit
CD Certificate of Deposit
CD Ratio Credit Deposit Ratio
CDBS Committee of Direction on Banking
Statistics
CF Company Finance
CFRA Combined Finance and Revenue
Accounts
CGRA Currency and Gold Revaluation
Account
CII Confederation of Indian Industries
CO Capital Outlay
CP Commercial Paper
CPI Consumer Price Index
CPI-IW Consumer Price Index for Industrial
Workers
CR Capital Receipts
CRAR Capital to Risk Weighted Asset Ratio
CRR Cash Reserve Ratio
CSIR Council of Scientific and Industrial
Research
CSO Central Statistical Organisation
CVC Central Vigilance Commission
DAP Development Action Plan
DBOD Department of Banking Operations
and Development
DBS Department of Banking Supervision,
RBI
DCA Department of Company Affairs, (Now
known as Ministry of Companies Affairs,
MCA)
35
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Government of India
DCB Demand Collection and Balance
DCCB District Central Cooperative Bank
DCM Department of Currency Management,
RBI
DD Demand Draft
DDS Data Dissemination Standards
DEIO Department of External Investments
and Operations
DESACS Department of Statistical Analysis
& Computer Services, RBI
DGBA Department of Government and Bank
Accounts, RBI
DGCI&S Directorate General of Commercial
Intelligence and Statistics
DI Direct Investment
DICGC Deposit Insurance and Credit
Guarantee Corporation of India
DID Discharge of Internal Debt
DMA Departmentalized Ministries Account
DRI Differential Rate of Interest Scheme
DSBB Dissemination Standards Bulletin
Board
DVP Delivery versus Payment
ECB External Commercial Borrowing
ECB European Central Bank
ECGC Export Credit and Guarantee
Corporation
ECS Electronic Clearing Scheme
EDMU External Debt Management Unit
EEA Exchange Equalization Account
EEC European Economic Community
EEFC Exchange Earners Foreign Currency
EFR Exchange Fluctuation Reserve
EPF Employees Provident Fund
EUR Euro
EXIM Bank Export Import Bank of India
FCA Foreign Currency Assets
FCCB Foreign Currency Convertible Bond
FCNR(B) Foreign Currency Non-resident
(Banks)
8A
A
Gr8AmbitionZ.com
36
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
8A
A
Gr8AmbitionZ.com
37
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
PO Principal Office
PRB Primary Revenue Balance
PSE Public Sector Enterprises
PUC Paid Up Capital
QRR Quick Review Report
RBI Reserve Bank of India
RD Revenue Deficit
RDBMS Relational Database Management
System
RE Revenue Expenditure
REC Rural Electrification Corporation
REER Real Effective Exchange Rate
RFC Residents Foreign Currency
RIB Resurgent India Bonds
RIDF Rural Infrastructure Development Fund
RLA Recoveries of Loans & Advances
RLC Repayment of Loans to Centre
RMB Renminbi (Chinese)
RNBC Residuary Non-Banking Companies
RO Regional Office
RoCs Registrars of Companies
RPA Rupee Payment Area
RPCD
Rural
Planning
and
Credit
Department, RBI
RR Revenue Receipts
RRB Regional Rural Bank
RTP Reserve Tranche Position
RUF Revolving Underwriting Facility
RWA Risk Weighted Asset
SAM Social Accounting Matrix
SAS Statistical Analysis System
SBI State Bank of India
SC Schedule Caste
SCARDB State Cooperative Agriculture and
Rural Development Bank
SCB State Cooperative Bank
SCB Scheduled Commercial Bank
SCS Size Class Strata
SDDS Special Data Dissemination Standards
SDR Special Drawing Right
SEBI Securities and Exchange Board of India
SEBs State Electricity Boards
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
8A
A
Gr8AmbitionZ.com
38
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
ST Schedule Tribe
SWG Second Working Group on Money
Supply
TBs Treasury Bills
TC Temporary Change
TT Telegraphic Transfer
UBB Uniform Balance Book
UBD Urban Banks Department
UCB Urban Cooperative Bank
UCN Uniform Code Number
US United States
USD US Dollars
UTI Unit Trust of India
VC Venture Capital
WGMS Working Group on Money Supply:
Analytics and Methodology of Compilation
WPI Wholesale Price Index
WSS Weekly Statistical Supplement
YTM Yield to Maturity
ZO Zonal Office
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
Credit rating is the technique of credit risk valuation for the corporate debt instruments reflection
borrowers expected capability and inclination to pay interest and principle in a timely manner.
John Moody first introduced the concept in 1909.
Methodology : A ration exercise is done at the request of the company. It applies to a particular debt
obligation of the company and is not a general purpose evaluation of the company.
8A
A
Name of Agency
Service
GGr
Credit
Established
Head Quarter
Head
People
1909
New York,
USA City
New York,
USA City
New York City,
USA & London,
UK
Mumbai, India
Raymon W. MC
Daniel Jr
Doulas L. Peterson
(President)
Paul
Taylor
(CEO & President)
1860
1913
Key
39
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
Policy Advisory
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Information
Services of India
Limited (CRISIL)
Investment
Information and
Credit
Rating
Agency of India
(ICRA)
Credit
Information
Bureau India Ltd.
(CIBIL)
CARE
Gr8AmbitionZ.com
Gurgaon, India
Naresh Takkar,
(CEO)
Mumbai, India
M.
V.
(Chairman)
Sion
(East), O. V. Bundellu
Mumai, India
(Chairman)
Mumbai, India
Sudesh
Kumar
(Chairman)
Bangalore, India
Vivek
Kulkarni
(Chairman & CEO)
1993
SMERA
(FOR Research, Risk & 2005
Policy Advisor
msmes)
Research, Risk & 2007
Bric Work India
Advisory
Nair
ndian Finance Minster Arun Jaitley presented the Narendra Modi Governments maiden Budget for the
year 2014-15 on 10th July 2014. In this budget the modi govenrment mainly focused to keep up their
election promises. In this budget Arun Jaitely has mentioned the issues like Raising the personal tax
exemption limit by Rs. 50,000, raising the Foreign Direct Investment (FDI) limit to 49%, Ganga
Conservation Mission called 'Namami Gange' with Rs 2,037, Increasing safety of women in large cities with
Rs. 150 crores, setting up 100 smart cities with Rs 7,060 crore, National Rural Internet and Technology
Mission etc. He confidently stated that this budget can can growth even while curbing borrowing, after the
country's longest slowdown in a quarter of a century. Below are the Highlights of Union Budget 2014-15.
Highlights of Union Budget 2014-15
8A
A
GGr
40
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
Taxes Highlights :
o Rs. 2.5 lakh : Tax exemption limit for small & marginal, senior tax payers, up from Rs. 2
lakh
o Rs. 3 lakh : Tax exemption limit for senoir citizens, up from Rs. 2.5 lakh
o Rs. 1.5 lakh : Increased investment limit under Section 80C, up from Rs. 1 lakh
o Rs. 2 Lakh : Revised housing lan regate, up from Rs. 1.5 lakh
o No change in tax rates
o No change in surcharge
Agriculture highlights
o Rs. 100 crore set aside for schemes to provide soil health card
o Rs. 56 crore for soil testing labs across the country
o Rs. 200 crore set aside for agriculture universities in AP and Rajasthan, and Horticulture
University in Haryana, Telangana
o 5 lakh landless farmers to be provided finance through NABARD
o Rs. 8 lakh crore set aside for development of agriculture sector
o 3% amount of incentive to be given to farmers repaying loans on time
o Rs. 100 crore set aside for Kisan Television to provide real time information on various
farming and agriculture issues
Education Highlights
o Rs. 100 crore for Beti Bachao-Beti Padhao yojana
o 4 new AIIMS to be set up in AP, UP, WB and Maharashtra
o Rs. 28,000 core for sanitation in all primary schools
o 12 more governement medical colleges to be set up
o 5 new IITs and IIMs to be set up
o Rs. 3,600 crore for rural drinking water programme
o Rs. 8,000 crore for rural housing scheme
o Rs. 100 crore to be spent on upgrading madarsas
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
8A
A
day ahead of the Union Budget 2014-15, Indian Finance Minister Arun Jaitley has presented the
Economic Survey for the year 2013-14 in Lok Sabha on 9th July 2014. According to this survey,
India's economy is expected to grow between 5.4 percent and 5.9 Per Cent in the current fiscal year. A
flagship annual document of the Ministry of Finance, the Economic Survey reviews the developments in the
Indian economy over the previous 12 months, summarizes the performance on major development
programs, and highlights the policy initiatives of the government and the prospects of the economy in the
short to medium term. Below are the highlights of Economic Survey 2013-14.
Major Highlights of the Economic Survey 2013-14
GGr
41
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
8A
A
Reduce spillovers from food to non-food inflation by putting in place a formal monetary policy
framework
Contain revenue shortfall via better mobilisation, reforms
Move towards simple tax regime, fewer exemptions, GST rate
Need DTC as clean modern replacement for existing I-T laws
Cutting capital expenditure not good for economy
Changes in tax administration required
Need sharp fiscal correction, new FRBM Act with teeth
Government needs to move towards low and stable inflation through fiscal consolidation
RBI intervention in forex market behind accumulation of reserves generally
Rupee has stabilized, reflecting an overall sense of confidence in forex and capital markets
Time over-runs in infra project main cause of under achievement in the sector
Exports still fragile; Iraq crisis a risk
Industrial growth expected to revive gradually over 2-yearr
Indian legislation governing business need thorough revamp
Improve business environment by shifting important decision making from inspectors to higher
officers
Re-examine laws that empower govt to interfere in markets
Capital controls under FEMA do not support rapidly globalizing economy.
Banking sector impacted by global and domestic slowdown
State APMC laws hurdle to modernisation of good economy; have created cartels of buyers who
possess market power
Foodgrains production to go up to 264.4 MT in 2013/14
Need to review nutrientbased fertiliser subsidy
Plan to add 88,537 MW power capacity over next 5 yrs
Allow private companies to mine coal commercially
Gold & silver imports dropped 40% to $33.4 bn in 2013/14Improvement in fiscal deficit and
CAD to feed higher growth
Indias increase in share in world services exports from 0.6% in 1990 to 3.3% in 2013 faster than
goods exports
Despite deceleration, services GDP growth at 6.8% was above the 4.7% overall GDP in 2013/14
3 milestones of 2013/14: passage of PFRDA Act, shift of commodity futures trading into FinMin
& presentation of FSLRC report
Poverty ratio declined from 37.2% in 2004/05 to 21.9% in 2011/12.
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
GGr
he Union Railway Minister D.V. Sadananda Gowda presented his maiden Railway Budget in Parliament
Ton 8th July 2014, promising to seek increased foreign and domestic private investment to fund
modernization of the country's huge but badly stretched network. The state-owned railway has suffered from
years of low investment and populist policies to subsidise fares. These have reduced the system to a slow,
congested network that crimps economic growth. Here are the highlights of this Budget.
42
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
Jansadharan Trains
1. Ahmedabad-Darbhanga Jansadharan Express via Surat
2. Jaynagar-Mumbai Jansadharan Express
3. Mumbai-Gorakhpur Jansadharan Express
4. Saharasa-Anand Vihar Jansadharan Express via Motihari
5. Saharasa-Amritsar Jansadharan Express
Premium Trains
1. Mumbai Central-New Delhi Premium AC Express
2. Shalimar-Chennai Premium AC Express
3. Secunderabad-Hazrat Nizamuddin Premium AC Express 6
4. Jaipur-Madurai Premium Express
GGr
8A
A
New Trains
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
43
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
8A
A
Gr8AmbitionZ.com
44
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
GGr
8A
A
45
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
GGr
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
8A
A
Gr8AmbitionZ.com
46
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
Founding Countries - 29
Member Countries - 188
Newest Member : South Sudan on 18th April 2012
Staff - 2,400 (approx)
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
o
o
o
o
Gr8AmbitionZ.com
GGr
Amma Cement Scheme : Tamil Nadu Government launched this scheme. Under this scheme, it will
procure cement from private manufacturers and sell them at Rs 190 per bag in the wake of possible
increase in rates of the key construction component.
Anna Bhagya : A programme launched in Karnataka. The programme entitles distribution of 30 kg
rice at one rupee per Kg to over 98 lakh BPL and Antyodaya card holders in the state.
Annapurna : Under this scheme. 10 kg of food grains are provided to BPL households free of cost
every month.
Bhagat Puran Singh Sehat Beema Yojana (BPSSBY) : Health care scheme for BPL families
launched in Punjab.
Deen dayal upadhyaya gram jyothi yojana : This scheme is for power supply in rural area.
e-inclusion project : Centre recently launched e-inclusion project to spread e literacy. This project is
an initiative to make at least one individual in every household e-literate, under the project,
economically weaker sections of the society including rural SC, ST and women will receive IT
training.
Free CFL bulb Scheme (Tamil Nadu) : Tamil Nadu governement launched free CFL bulb scheme
under this scheme state government will provide free compact fluorescent light bulbs to over 14 lakh
hut dwellers in the state, an energy saving measure aimed at saving 40 mw of power.
Golden Girl (Bangaru Talli) Scheme : A unique scheme, launched in Andhra Pradesh, to protect
girl child and ensure her education.
Krishi Amdani Beema Yojana : To help the farmers dont bear any financial burden if their
produce gets destroyed due to unexpected weather or for any other reason.
Mahatma Gandhi Pravasi Suraksha Yojana (MGPSY) : This schem eis a pension and life
insurance scheme and is recoghnised by th eIndian governement. This scheme was launched in the
UAE. A leading Indian financial and health care service player has tied up with the UAE Exchange
to offer MGPSY in the Gulf country.
National Gramin Awas Mission : Rural housing scheme to cover all homeless by 2022.
Neerachal : for watershed development.
Pradhan mandhiri krishi sinchayee yojana : This scheme is for for assured irrigation.
Pradhan mantri gram sadak yojana : Road connectivity to unconnected villages.
Pradhan Mantri Gram Sinchai Yojana : To boost agricultual yield, Govt launched "Pradhan
Mantri Gram Sinchai Yojana".
Pradhanmantri Jan-Dhan Yojana : To provide bank accounts, insurance cover and a debit card to
all the citizens of the country.
Project Uddan : The project, an initiative of the Prime Minsiter, the National Skills Development
Corporation and the Ministry of Home Affairs and industry, was startyed with the aim of providing
skills to 40,000 youth over a period of five years.
8A
A
47
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
Rajiv Gandhi Jeevandayee Arogya Yojana : A health insurance scheme was launched in
Maharashtra.
Rani Laxmi Bai Pension Scheme : 'Special pension' would be given to Muzaffarnagar riot victims
by U.P. Govt. The pension, which would be anywhere between Rs. 400 and Rs. 500, would be givne
under this scheme.
'Roshini' Scheme : Centre launched this scheme for skill development and job placement for rural
youth and women in maoist affected 24 districts in 9 states.
Shyam prasad mukherji Rurban mission : This is for integrated project based infrastructure in
rural.
The Vikram Unyogpuri (Delhi-Mumbai industrial Corridor) : This project was launched in
Madhya Pradesh.
Swavlamban Abhiyan : Prime Minister Narendra Modi launched 11 welfare schems of Gujarat
government under the title of Swavlamban Abhiyan. The schemes are;
1. Aid to milk producing cattle and equipments to tribal women,
2. Distribution of milking machines and chaff cutters among cooperative rural milk producing
women groups,
3. Assistance to cooperative milk producing women groups to build dudh ghar,
4. Mukhyamantri Amrutam Maa Vatsalya Yojana,
5. Assistance for health care to construction labors suffering from occupational health diseases,
6. Interest benefit to farmers to build warehouse in farm, tablet distribution to ITI apprentice
studying computer courses,
7. Pandit Dindayal Upadhyaya young entrepreneurs scheme,
8. Benefit in interest on self employment loan to ITI passed apprentice,
9. Shri Nanaji Deshmukh housing scheme,
10. Dattopant Thengdi labor interest assistance scheme for construction laborers,
11. Impex-Bs formation to expand employment oriented services and middle class oriented
schemes.
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
Gr8AmbitionZ.com
8A
A
Dear Friends, All the study materials of Gr8AmbitionZ.com are free. We just would
like to listen when you say, Those are the people who helped me cracking my exam
with good marks. So, if you found this small book interesting and enlightening, we
would appreciate if you share this with your Friends. Thats the only FEE we are
expecting from you
GGr
All the very BEST for your Exams Friends. Go well prepared and come with
flying colors. Waiting for your Victory
Gr8AmbitionZ Team
48
Gr8AmbitionZ.com
mmbb
i
tio Z. com
Great A mbition
nnZ
. cc
om
BANKING AWARENESS QUICK REFERENCE GUIDE FOR IBPS PO AND CLERKS 2014
Important Note : In IBPS CWE PO IV, they are asking more than 85% of
questions from Banking / Economy Background and remaining 15% from recent
current affairs. So, we have not included the regular Current Affairs stuff in this pdf
file. If you have enough time, please download the Current Affairs material and
practice sets from below link. All the Best.
http://www.gr8ambitionz.com/2012/08/current-affairs.html
We are at Facebook
8A
A
GGr
www.facebook.com/Gr8AmbitionZ
49