100 Most Important Banking Awareness One Liners Part - 1

Prompt Corrective Action :

1). RBI introduced a new framework called, Prompt Corrective Action (PCA) to regulate bank’s - NPA 

2). The PCA framework all the banks operating in India except - Regional Rural Banks Explanation:The framework would apply to all banks operating in India including small banks and foreign banks except Regional Rural Banks and co – operative Banks. 

3). The PCA framework for banks was started in - 2002 

4). The first bank came under PCA framework is - IDBI 

5). Till now how many banks came under PCA framework - 3 Explanation: The banks IDBI, UCO and Dena came under PCA framework.

6). Under Prompt Corrective Action (PCA), the banks will be monitored on -----parameter. - Capital, Asset Quality and Profitability parameters. Explanation:Capital, Asset Quality and Profitability parameters would form the basis on which PCA will analyses a bank's performance. 

7). The loan is considered to be a Non Performing Assets once the borrower fails to make interest or principal payments for - 90 days 

8). RBI has put some trigger points to assess, monitor, control and take corrective actions on banks which are weak and troubled. The following one is not among them. - Capital Adequacy Ratio (CAR) Explanation:The trigger points are Capital to Risk weighted Asset Ratio (CRAR), Net Non-Performing Assets (NPA), Return on Assets (RoA) and Leverage Ratio. 

9). The total value of Non Performing Assets surged to - Rs 614,872 cr 

10). Indian Overseas Bank’s gross NPA ratio is - 22.42% Explanation:Indian Overseas Bank’s (IOB) gross NPA ratio reads 22.42 per cent, which means Rs 22.42 out of Rs 100 lent by the bank will be classified as bad loan. 

11). United Bank of India gross NPA ratio is - 15.98% 

12). The bank will be closed or merged with other banks if the capital ratio falls below - 3.625%. 

National Payment Corporation of India and its Products 

13). In which year National Payment Corporation of India (NPCI) was established – 2008 Explanation:NPCI was established in December 2008. 

14). NPCI comes under which Act - Companies Act 2013 Explanation:First the company has been incorporated as a Section 25 company under the Companies Act 1956,but now it comes under Section 8 of The Companies Act, 2013. 

15). National Payment Corporation of India has -------------- core promoter companies. – 10 Explanation: NPCI has ten core promoter banks State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank and HSBC. 16). Who is CEO& MD of National Payment Corporation of India - A. P. Hota Explanation: A. P. Hota is the current CEO& MD of NPCI whereas Balachandran.M is the Chairman of NPCI. 

17). The paid up capital of NPCI is increased from 100Cr to - 137 Cr Explanation: National Payments Corporation of India (NPCI) has increased its paid-up capital from Rs.100 crore to Rs. 137 crore. 

18). The authorized Capital of NPCI is - 300 cr Explanation: The authorized Capital of NPCI is Rs 300 Cr. 

19). The Headquarters of National Payments Corporation of India is – Mumbai Explanation: National Payments Corporation of India is headquartered in Mumbai , is the umbrella organization for all retail payment systems in India, which aims to allow all Indian citizens to have unrestricted access to epayment services. 

20). List out the NPCI Products - NFS, BHIM, UPI, IMPS, NACH, AEPS, RuPAY, BBPS and CTS Explanation: NFS, BHIM, UPI, IMPS, NACH, AEPS, RuPAY, BBPS and CTS are all NPCI products. 

21). NPCI introduced Bharat Interface for Money (BHIM) in - 30th December 2016 Explanation: Bharat Interface for Money (BHIM) was introduced in 30th December 2016, It has been named after Dr. Bhimrao R. Ambedkar and is intended to facilitate e-payments directly through banks and as part of the 2016 Indian banknote demonetization and drive towards cashless transactions. 

22). What does S stands for in AEPS – System Explanation: AEPS - Aadhaar Enabled Payment System 23). What details does the customer need for an AEPS transaction - Aadhaar Number, Biometric and IIN Explanation: A customer needs IIN (Institution Identification Number), Aadhaar Number and Biometric data (Finger Print or Iris) for transaction. 

24). Institution Identification Number has ------------------ digits – 6 Explanation: IIN is a unique 6 digit number issued by NPCI. 

25). Which banking services can the customer avail using AEPS - Cash Withdrawal, Cash Deposit , Balance Enquiry , Fund Transfer 

26). What does B stands for in APB – Bridge Explanation: APB - Aadhaar Payment Bridge 

27). ---------------- launched India’s first RuPay ATM & Micro ATM Card with Aadhaar Number - Bank of India Explanation: Bank of India DhanAadhaar Card is India’s first RuPay ATM & Micro ATM Card with Aadhaar Number 

28). Bharat Interface for Money (BHIM) App supports ------ languages – 12 Explanation: BHIM app currently supports 12 languages including English. 

29). Bharat Interface for Money app developed by NPCI based on – UPI Explanation: BHIM app based on Unified Payment Interface (UPI). 

30). In BHIM app for a single transaction, the maximum limit is Rs - 10,000 

31). In BHIM app, daily transaction limit would not exceed Rs - 20,000 

32). Immediate Payment Service (IMPS) facility is provided by – NPCI Explanation: IMPS is a product of NPCI 

33). What does second M stands for in MMID–Money Explanation: MMID - Mobile Money Identifier 34). Mobile Money Identifier (MMID) is a ------- digit number – 7 Explanation: Mobile Money Identifier (MMID) is a seven digit unique number issued by the bank upon registration. 

35). UPI – PIN has maximum -------- number of digits – 6 Explanation: UPI-PIN (UPI Personal Identification Number) is a 4-6 digit secret code you create/set during first time registration with this BHIM App. So the minimum digit is 4 and the maximum digit is 6. 36). UPI uses -----------, which uniquely identifies a respective bank account - Virtual Payment Address 

37). In UPI we can transfer maximum Rs - 1,00000 Explanation: At present, the upper limit per UPI transaction is Rs. 1 Lakh. 

38). The term --------------- is used for Requesting money in UPI – PULL 

39). The term --------------- is used for sending money in UPI – PUSH 

40). What does S stands for in QSAM – Service Explanation: QSAM - Query Service on Aadhaar Mapper. This service helps user in knowing their Aadhaar Seeding status with their bank account.

41). When using QSAM Service we need to dial - *99*99# 

42). What does S stands for in BBPS – System Explanation: Bharat Bill Payment System – BBPS. The Bharat Bill Payment System is a RBI mandated system which will offer integrated and interoperable bill payment services to customers across geographies with certainty, reliability and safety of transactions. 

Regulatory Bodies in India 

43). In India Capital Market is Regulated by – SEBI Explanation: The main aim of Securities and Exchange Board of India (SEBI) is to protect the interest of investor in securities. It is a sole regulator for all stock exchanges in India. If any company wants to bring Initial Public Offering (IPO) it needs prior approval from SEBI. 

44). Who is responsible to appoint the Chairman for SEBI – GOI Explanation: The chairman of SEBI is appointed by GOI .The term of SEBI chairman is three years. Present Chairman is Mr. Ajay Tyagi 

45). In which year Government of India established Securities and Exchange Board of India – 1988 Explanation: SEBI was established in 1988 but it got statuary powers (Legal Status) in January 30, 1992. Head Quarters – Mumbai. 

46). Insurance Regulatory and Development Authority (IRDA) of India was established in – 1999 Explanation: IRDA was established in 1999 by the IRDA act, 1999. IRDA is a sole authority to regulate the insurance industry in India, to ensure the growth of insurance industry and protect the interest of policy holders. 

47). Who is the Chairman for Insurance Regulatory and Development Authority of India - TS VIjayan Explanation: The term of IRDA chairman is for five years or till the age of 65 years. 

48). Head Quarters of IRDA is – Hyderabad Explanation: Originally it was located in New Delhi but later in 2001 shifted to Hyderabad, Telangana. 

49). In India Commodity Market is regulated by – SEBI Explanation: Previously commodity market regulated by FMC but in 2015, FMC merged with SEBI. So now in India SEBI regulates the Commodity market. 

50). Public health & Food Safety is regulated by – FSSAI Explanation: FSSAI- Food Safety and Standards Authority of India 

51). Head quarters of Food Safety and Standards Authority of India is - New Delhi 

52). Who is the Chairman for FSSAI - AshishBahuguna Explanation: CEO - Pawan Kumar Agarwal 

53). Head quarters of Bureau of Indian Standards (BIS) is - New Delhi 

Explanation: ManakBhawan in New Delhi is the head quarters of BIS. The Bureau of Indian Standards (BIS) is the national Standards Body of India working under the aegis of Ministry of Consumer Affairs, Food & Public Distribution and Government of India. 

54). Bureau of Indian Standards was established in – 1986 Explanation: It is established by the Bureau of Indian Standards Act, 1986 which came into effect on 23 December 1986. 

55). Director General of Bureau of Indian Standards is - Alka Panda 

56). In India Chit Funds are regulated by - Respective State Governments Explanation: Chit funds in India are governed by the Chit Funds Act, 1982. Under this Act, the chit fund businesses can be registered and regulated only by the respective State Governments. 

57). Who is the regulator of Foreign Exchange (Forex Market) in India - RBI Explanation: The Foreign Exchange Regulation Act (FERA) was passed in India in 1973. 

58). In India Nidhi Companies are regulated by - Ministry of corporate affairs 

59). Who is the chairman of Pension Fund Regulatory and Development Authority (PFRDA) of India - Hemant Contractor Explanation: He is a Former MD of SBI 

60). Headquarters of Pension Fund Regulatory and Development Authority of India is - New Delhi 61). In which year Pension Fund Regulatory and Development Authority of India started by GOI – 2003 Explanation: Pension Fund Regulatory and Development Authority (PFRDA) of India established on August 2003 by Government of India. 

62). Headquarters of Small Industries Development Bank (SIDBI) of India is – Lucknow 

63). Small Industries Development Bank of India was established in – 1990 Explanation: SIDBI was established on April 2, 1990 under small industries development bank of India act, is the Principal Financial Institution for the Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector and for Co-ordination of the functions of the institutions engaged in similar activities. 

64). Who is the Chairmen of SIDBI - KshatrapatiShivaji 

65). In which year Telecom Regulatory Authority of India (TRAI) was established in – 1997 Explanation: Telecom Regulatory authority of India was established on 20 February 1997 by an Act of Parliament to regulate telecom services and tariffs in India. Earlier regulation of telecom services and tariffs was overseen by the Central Government. 

66). In which city Telecom Regulatory authority of India (TRAI) is headquartered - New Delhi

Explanation: Telecom Regulatory authority of India’s Headquarters is in New Delhi and its Chairman is Ram Sewak Sharma. 

67). In India Security Exchange Board of India regulates - Merchant Banking companies, Venture Capital Fund, Algorithmic Trading , Credit Rating agencies 

68). In which city Advertising Standards Council of India (ASCI) headquartered – Mumbai Explanation: The Advertising Standards Council of India was founded in 1985. It is a non-Government body. 

69). Who is the Chairman of Financial Stability and Development Council (FSDC) - The Union Finance Minister of India Explanation: The Union Finance Minister of India is the Chairman of FSDC. 

70). In which year FSDC established in India – 2010 Explanation: FSDC is an apex-level body constituted by the government of India. The idea to create such a super regulatory body was first mooted by the RaghuramRajan Committee in 2008. Finally it constituted in December 2010. 

71). Institute of Chartered Accounts in India (ICAI) is headquartered in - New Delhi Explanation: ICAI is the national professional accounting body of India. It was established on 1 July 1949 as a body corporate under the Chartered Accountants Act, 1949 enacted by the Parliament to regulate the profession of Chartered Accountancy in India. 

72). In which year Export Credit Guarantee Corporation of India (ECGC) was established – 1957 Explanation: ECGC Ltd, was established in July, 1957 to strengthen the export promotion by covering the risk of exporting on credit. It functions under the administrative control of the Ministry of Commerce & Industry, Department of Commerce, Government of India. 

73). Headquarters of ECGC is – Mumbai Explanation: Chairman & MD - Geetha Muralidhar 

74). Currently Indian Banks' Association (IBA) represents -------- Banking Companies operating in India. – 237 Explanation: IBA was established in India in 1946 with 22 initial bank members. 

75). Who is the regulator of Micro-Finance Regulatory Authority in India – NABARD Explanation: NABARD was established on the recommendations of B.Sivaraman Committee on 12th July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981. 

76). The initial corpus of NABARD is ------Cr – 100 Explanation: Both RBI and GOI started NABARD with an initial corpus of Rs 100 cr. As per 31st may 2017 the paid up capital stood at Rs 30,000 Cr with GOI holding 100% share. 

77). National Association of Software and Services Companies (NASSCOM) was established in - 1988

Explanation: The National Association of Software and Services Companies (NASSCOM) is a trade association of Indian Information Technology (IT) and Business Process Outsourcing (BPO) industry. HQ: New Delhi. 

Reserve Bank of India and Bank Related Act’s :

78). Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the ------ act. - Reserve Bank of India Act, 1934 Explanation: Reserve Bank of India was established on April 1 , 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. When RBI was established it was private owned entity. 

79). RBI was nationalized on – 1949 Explanation: RBI was nationalized on 1st January, 1949. 

80). RBI has -------- regional offices. – 19 Explanation: RBI has 19 regional offices, 11 sub-offices and 4 zonal offices. 

81). RBI can have atmost ------ deputy governors at any time. – 4 Explanation: The 4 Deputy Governors are BP Kanungo, S SMundra, N S Vishwanathan and Viral Acharya. 

82). When RBI was established, it has headquarters in – Kolkata 

83). In RBI Act 1934, the business banks can carry out is defined under - Section 21 Explanation: Section 21 in The Reserve Bank of India Act, 1934, every banks to have the right to transact Government business in India. 

84). In RBI Act 1934,RBI has sole rights to issue currency notes and it comes under - Section 22 Explanation: Reserve Bank of India Act, 1934, section 22- Right to issue bank notes. 

85). Headquarters of RBI shifted from Calcutta to Mumbai in – 1937 Explanation: The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937. 

86). Government of India has a sole right to print Rs 1 note or mint coins under - Coinage Act, 2011 87). Cash Reserve Ratio comes under section ------ of RBI Act 1934. – 42 Explanation: Cash reserves of scheduled banks to be kept with the Bank comes under section 42 of RBI Act 1934. 

88). Money market instruments and Securities are defined under which section of RBI Act, 1934 - 45U Explanation: Money market instruments, repo, reverse repo and Securities are all comes under section 45U of RBI Act 1934. 

89). In RBI Act 1934 section 26 (2) defines ------- of bank notes. - Withdrawal of legal tender Explanation: section 26(1) defines legal tender of bank notes whereas 26(2) defines withdrawal of legal tendered bank notes.

90). Procedure for merger of banking companies is defined under section ____ of Banking Regulation Act, 1949. – 44 Explanation: In Banking regulation act 1949 section 44A defines merger of banks. 

91). Small Finance banks gets license under section -------of Banking Regulation Act, 1949. – 22 Explanation: Small Finance banks gets license under section 22 of Banking Regulation Act, 1949. 

92). Payment banks gets license under section ---- of Banking Regulation Act, 1949.– 22 Explanation: Both Payment Banks and Small Finance banks gets license under section 22 of Banking Regulation Act, 1949. 

Questions Related to SBI Bank :

93). State Bank of India have ------- foreign branches around the world. – 190 Explanation: Totally SBI have 190 Foreign Offices in 36 countries. 

94). After merger SBI bank have a deposit base of more than ------ lakh crore and advances level of ------ lakh crore. - 26 and 18.50 95). The State Bank of India merged with 5 associate banks and BharatiaMahila Bank on April 1, 2017. Which one is not among the list - State Bank of Saurashtra Explanation: State Bank of Saurashtra merged with SBI in 2008, its the first bank to merge with SBI. 96). State Bank of India announced a customer should maintain minimum of Rs ----- in a Rural Area. – 1000 97). State Bank of India announced a customer should maintain minimum of Rs ----- in a Urban Area. – 3000 98). State Bank of India announced a customer should maintain minimum of Rs --------- in a Metro city. – 5000 99). State Bank of India announced a customer should maintain minimum of Rs --------- in a Semi Urban Area. – 2000 100). The Central Government has -------- stake in SBI Bank as of March 2017. - 62.22%