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Quick Revision - 03

NOVEMBER 30, 2014

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1. Lending aimed at helping the poor to get out of poverty - Micro Finance


2. Technology used for fully computerized banking which links all the branches of a bank to a core computer - Core Banking


3. Traditional banking is called - Brick and Mortar Banking (As opposed to Mouse and Click Banking)


4. Banking channel which minimizes the use of paper in routine transactions - Green Banking


5.  ATM stands for - Automated Teller Machines


6. Brown Label ATMs – Those which are licensed to banks but serviced and managed by third parties


7. ‘Deposits’ and ‘Loans’ of a bank are classified as – liabilities and assets respectively


8. An account wherein a fixed sum is deposited every month for a fixed duration from six months to 10 years: Recurring Deposits Account


9. If there is no transaction in a deposit account for more than 10 years, it is classified as - Unclaimed Account


10.  As per Banking Regulation Act, the amount in unclaimed accounts is to be transferred to - Depositor Education and Awareness Fund


11. The account on which temporary loan facilities are sanctioned by banks, against some securities: Over Draft


12. Three pillars of Basel II Norms are: Minimum Capital Requirement, Supervisory Process and Market


13. Rupay Card is - Indian domestic card payment network set up by National Payments Corporation of India


14. Besides deposits and loans, the banks have many other functions like selling insurance, mutual funds etc. Such activities are part of - Para Banking


15. CASA Deposits are - Current Account / Saving Account


16. Capital Adequacy Norms i.e. the minimum capital to be maintained by the banks globally, have been formulated by - Bank for International Settlements (BIS), Basel


17. A cheque is valid for  - 3 months from the date of issue


18. As per the RBI guidelines, the banks cannot charge interest on a loan below - Base Rate


19. The rate of interest charged by the RBI from banks on loans against rediscounting of bills is called - Bank Rate


20. Buying an asset at a low price and selling it in a different market for a higher price is – Arbitrage




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