Banking BULLET POINTS --
01. Accounts are allowed to be operated by cheques in respect of current and savings accounts
02. Interest is not paid in current accounts
03. Mortgage is a security on immovable property for loan given bythe bank
04. Financial inclusion means provision of – financial services namely; payments, remittances, savings, loans and insurance at affordable cost to persons not yet given the same
05. When a bank returns a cheque unpaid, it is called as – dishonor of thecheque
06. Demat accounts are accounts in which the shares of various companies are traded in electronic form
07. NEFT means – National Electronic Funds Transfer
08. No upper limit has been prescribed for RTGS
09. RTGS means – Real Time Gross Settlement
10. Distribution of insurance products and insurance policies by banks as corporate agents is known as – bankassurance
11. Interest on savings bank account isnow calculated by the banks on daily product basis
12. Government of India is the largest shareholder (in percentage shareholding) of a nationalized bank
13. Banks in the country normally publicise that additional interest rate is allowed in retail domestic term deposits held by– senior citizens
14. A centralized database with onlineconnectivity to branches, internet as well as ATM network which has been adopted by almost all major banks of the country is known as – core banking
15. Commercial paper is not considered as the money market instrument
16. With a view to facilitate payment of balance in the deposit account to the person named by the depositor without any hassles in the event of death of the account holder, the following facility was introduced for bank accounts in the country – Nomination
17. ATM cards are issued to a person who maintains any of the following accounts namely – savings bank accounts and current accounts
18. ATM is a computer which is dedicated to perform certain specific jobs only
19. ATM is a user friendly machine and the customer does not require any training for using it
20. ATM is totally menu driven which displays instructions to the customer step by step for operating the same
21. A working croup on cheque truncation and E-cheques was constituted by RBI under the chairmanship of Dr. R.B. Barman and major recommendationsof group include – the physical cheque will be truncated within the presenting bank; settlement will be generated on the basis of current MICR code line data and electronic images will be used for payment processing
22. RTGS benefits the customer and the bank
23. RTGS means a payment system in which – both processing and final settlement of funds transfer instructions can take place continuously
24. RBI in regard to RTGS has decided that – RTGS would be accessible to all retail customers and there would be no floor ceiling for routing the transactions through RTGS and settlement of transactions.
25. State Bank of India is considered to be the first bank to launch a mutualfund
26. In commercial paper the followingparties can invest – individuals, banking companies and corporate bodies registered or incorporated in the county and unincorporated bodies, Non Resident Indians and foreign Institutional Investors.
27. The commercial paper may be issued in multiples of Rs. 5 lakhs subject to the minimum size of an issue to a single investor being – Rs. 5lakhs
28. Commercial paper may be issued for period ranging from seven days to one year
29. Commercial paper is essentially – unsecured money market instrument
30. Social control was imposed on commercial banks effective from – 1st February, 1969
01. Accounts are allowed to be operated by cheques in respect of current and savings accounts
02. Interest is not paid in current accounts
03. Mortgage is a security on immovable property for loan given bythe bank
04. Financial inclusion means provision of – financial services namely; payments, remittances, savings, loans and insurance at affordable cost to persons not yet given the same
05. When a bank returns a cheque unpaid, it is called as – dishonor of thecheque
06. Demat accounts are accounts in which the shares of various companies are traded in electronic form
07. NEFT means – National Electronic Funds Transfer
08. No upper limit has been prescribed for RTGS
09. RTGS means – Real Time Gross Settlement
10. Distribution of insurance products and insurance policies by banks as corporate agents is known as – bankassurance
11. Interest on savings bank account isnow calculated by the banks on daily product basis
12. Government of India is the largest shareholder (in percentage shareholding) of a nationalized bank
13. Banks in the country normally publicise that additional interest rate is allowed in retail domestic term deposits held by– senior citizens
14. A centralized database with onlineconnectivity to branches, internet as well as ATM network which has been adopted by almost all major banks of the country is known as – core banking
15. Commercial paper is not considered as the money market instrument
16. With a view to facilitate payment of balance in the deposit account to the person named by the depositor without any hassles in the event of death of the account holder, the following facility was introduced for bank accounts in the country – Nomination
17. ATM cards are issued to a person who maintains any of the following accounts namely – savings bank accounts and current accounts
18. ATM is a computer which is dedicated to perform certain specific jobs only
19. ATM is a user friendly machine and the customer does not require any training for using it
20. ATM is totally menu driven which displays instructions to the customer step by step for operating the same
21. A working croup on cheque truncation and E-cheques was constituted by RBI under the chairmanship of Dr. R.B. Barman and major recommendationsof group include – the physical cheque will be truncated within the presenting bank; settlement will be generated on the basis of current MICR code line data and electronic images will be used for payment processing
22. RTGS benefits the customer and the bank
23. RTGS means a payment system in which – both processing and final settlement of funds transfer instructions can take place continuously
24. RBI in regard to RTGS has decided that – RTGS would be accessible to all retail customers and there would be no floor ceiling for routing the transactions through RTGS and settlement of transactions.
25. State Bank of India is considered to be the first bank to launch a mutualfund
26. In commercial paper the followingparties can invest – individuals, banking companies and corporate bodies registered or incorporated in the county and unincorporated bodies, Non Resident Indians and foreign Institutional Investors.
27. The commercial paper may be issued in multiples of Rs. 5 lakhs subject to the minimum size of an issue to a single investor being – Rs. 5lakhs
28. Commercial paper may be issued for period ranging from seven days to one year
29. Commercial paper is essentially – unsecured money market instrument
30. Social control was imposed on commercial banks effective from – 1st February, 1969
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