Prepared by B V Ravi Kumar, RSTC Kolkata

EXAM POINT OF VIEW –IMPORTANT QUESTIONS ON GENERAL BANKING

GENERAL BANKING (Answers are in red)

REVERSE REPO RATE 3.35% (commercial Banks park their excess

money with RBI)

REPO RATE 4.00 % (RBI Lends short term money to banks

against govt securities)
BANK RATE/MARGINAL STANDNG 4.25 (RBI Lends long term money to banks with out
FACILITY RATE any security)

MSFR : Borrow funds for overnight against Govt

CRR (RBI ACT SEC 42)
SLR (BR ACT 24 SEC)
securities
3 % ON NET DEAMAND AND TIME LIABILITIES
CRR-NO Minimum and NO maximum- No interest
rate. Maintained on fortnightly basis
18.00 % (normally no minimum - but max 40%) (to be
maintained in the form gold reserves , cash , PSU
BONDS & approved securities)

 As per which section Bank can hold 30% paid up capital of any company OR 30% of
its own Paid up capital and reserves (whichever is less) : 19 (2)- BR ACT

 As per which section Bank cannot lend on its own shares : BR ACT 20 (1)

 As per which section and which act RBI has been given powers to give directions to
bank in public interest, OMBUDSMAN, CLEAN NOTE POLICY AND KYC : Sec 35 A of
BR Act

 Nomination in Deposit Accounts dealt in which section & act : Sec 45ZA & 45ZB of
BR Act

 Nomination of Safe Custody articles dealt in which section & act : Sec 45ZC&D:

 Safe Depositor Lockers Nomination facility dealt in which section & act : Sec
45ZE&ZF

 In Case of Safe Custody Article nominees permitted ………. Only, In case of Joint
Lockers with joint Operations max nominees permitted ……………and in case
Capital Gain account- Maximum ……… nominee : 1 ,2 and 3

NI ACT IMPORTANT SECTION:

 When figures and words differs, words to be paid on chq which section : 18 OF NI
ACT

 INCHOATE INSRUMENT – IE., Incomplete instrument defined which section : 20 of NI

act

 3 days grace period on usance bill which section : 22 of NI act

 Paying banker protection-chq is materially altered- but does not appear to have
altered which section : Section 89 of NI act

 Collecting bankers protection under crossed chq which section and act : Sec131 of
NI act

 Dishonor of cheque for insufficiency of funds which section deals : 138 section of NI
act

 Dishonor of cheque for insufficiency of funds Penalty – : Double the amount or 2

years imprisonment or both

BANK CUSTOMER RELATIONSHIP

 Relationship in Collection of Cheque/standing instruction/any service to customer/

sale purchase of shares : BANK is agent and customer is prinicipal

 Maintaining currency chest : Chest is agent , RBI is principal

 Payment of draft at paying branch : Bank is trustee and party is beneficiary

 Locker : Bank is Lessor, Landlord, licensor , Customer is Lessee, Tenant, licensee

 Safe custody of articles : Customer is Bailor and bank is Bailee

 Wrong credit given by the bank where amount so far not recovered : Bank is
Beneficiary And customer is Trustee

 Branches/Offices to invariably report the status of outstanding OSCs for more than ………
days drawn on state capitals, ……… days on major cities and …….. days on other
locations to GA Section of Regional Offices : 7 days , 10 days and 14 days

 Positive Pay System shall be implemented from ………and cheques of ………….. and
above will be compulsorily to be under Positive Pay System : 1.1.21 and Rs.500000

 Treds(trade recievables electroic discount system)compulsory for turnover above:

500 CR
 APICULTURE : REARING HONEY BHEES

 APRICULTURE : MUSHROOM

 OLERI CULTURE : VEGETABLE

 PISCI CULTURE : FISH

 MULBERY : SERICULTURE (SILK PRODUCTION

 Memorandum of Association contains – Incorporated the Objects & Purposes

 Articles of Association contains– Internal Rules & Regulations

 Ombudsman Limitation – 1 year and 1 month from the date of representation to

Bank

 Ombudsman award : max – 20 lacs & In Case of Credit Card 1 lac

 Bank has to settle the banking ombudsman award within …….days or go for appeal
from date of receipt of acceptance of award from customer : 30 days

 Pecuniary Jurisdiction of District Consumer Disputes Redressal Commission

upto …………. Pecuniary Jurisdiction of State Consumer Disputes Redressal
Commission upto ………………. Pecuniary Jurisdiction of National Consumer
Disputes Redressal Commission upto ………… : Rs 1 crore, Rs 1 crore to 10 crore
and above 10 cr

 Appeals against order of the Commissions can be filed with in.. ……days if filing with
STATE Commission against District comm, with in.. ……days if filing with national
Commission against state comm, with in.. ……days if filing with Supreme court against
national Commission : 45days, 30days and 30 days (for all cases 50% of orded amt to
be paid for appealing)

 Guarantor stepping into the shoes of creditors of discharging the liabilities of principal
borrower : RIGHT OF SUBROGATION

 RTI ACT Time frame to reply , ………days normal situation, 3rd party information – ….
days, Life & Liberty ……….. hours: 30days, 45 days and 48 hours

 RTI ACT not replied in time : Penalty 250 per day -max 25000

 CERTIFICATE OF DEPOSITS issued mini which is a money market instrument isuued

for a minimum amount ……… lac in multiples of ………. lac , Maturity Min …………. days,
Max ……year : 1 lac and in multiples of 1 lac and min 7 days and max 1 year

 COMMERCIAL PAPER issued minimum amount : 5 lacs & in multiples there of

(issued at discounted face value)
 CASH REMITTANCE Above Rs. lakhs upto Rs……..lakhs an officer/clerk, a substaff &
accompanied by one armed guard : Rs 20 lacs to rs 50 lacs

 CASH REMITTANCE Above Rs……….lakhs, an officer, a sub staff and atleast two armed
guards : Rs 50 lacs

Commission on Govt. Business

 Commission for each National Pension System account opened through SAS
package/our Corporate website : Rs 200/-,

 Commission for each e-NPS account opened through NSDL Site : Rs 125/-

 Commission for each for each Atal Pension Yojana (APY) account opened by the
branch- Rs 100/-

 Commission for pension payment per transaction : Rs 75/-

 Commission for physical receipt and E receipt: Rs 40 and Rs 9

 Comm. for payment othet than persion, for every Rs 100 turnover: Rs 6.5 paise per
100

 After post amalgamation of Circles and Regional Offices and ZI : 24 CO, 176 ROs
and ZI-15

 TOTAL BUSINESS 4000 CR -AGM HEADED). UPTO 10000CR -DGM & ABOVE 10000
CR - GM

 What of new format for disbursement request format for loans – NF 1024.

 Every person, being a seller, who receives any amount as consideration for sale of a
motor vehicle of the value exceeding Rs……..lacs, shall, at the time of receipt of such
amount, collect from the buyer, a sum equal to ……..% of the sale consideration. TCS
is applicable on sale of Motor Vehicle under auction/e-auction or otherwise :10 lac
and 1 %

 Digital Life Certificate (DLC) - Obtention of Life certificates through : Jeevan Pramaan
Portal

 On account of failure of mandate registration, NPCI is imposing penal

charges ………./- per mandate : Rs 25

 Cash handling operations in the chests should be captured in CCTV Camera and
preserve for Minimum : 90 days

 Currency chest branches may levy service charges …….@ for the cash received
from non chest branches of other banks : Rs 5 per packet
 Large modern currency chests if cash received from non chest branches of other
bank are allowed increase service charges to: Rs 5 to Rs 8

 Simple Claim means : upto Rs.50000/-

 Frauds of 3CR TO 25 CR to be reported to if STAFF INVOLVED…… and staff not

involved ……………: STAFF INVOLVED ACB-CBI & O STAFF INVOLVEMENT
ECONOMIC OFFENCES WING-CBI

 Frauds of above 25 CR to be reported to : BSFC-CBI (BANKING SECURITY AND

FRAUD CELL

 CUSTOMER DAY CELBRATED ON : 15TH OF EVERY MONTH

 The Vivaad se Vishwas scheme announced by GOI addresses the issues of : Direct
Tax disputes

 What is the maximum penalty levied for delay in filing of e-TDS return after one
year(u/s 271H) of due date: Rs 100000