FAQs on Indian Banking to understand it better....part 3

continue.....from 

FAQs on Indian Banking to understand it better....part 2

51. Fixed Deposit (FD)Account may be opened for a

minimum period of:

Ans: 7 days

52. What is the minimum amount required to open

a Fixed Deposit (FD)?

Ans: Rs.1000

53. The Banks has converted all ‘no - frills'

accounts’ into:

Ans: Basic Savings Bank Deposit Accounts

54. 'Pradhan Mantri Jan Dhan Yojana' is a Scheme

for:

Ans: Financial inclusion

55. How much overdraft facility to be provided in

'Pradhan Mantri Jan Dhan Yojana' scheme?

Ans: Rs. 5,000

56. In CBS, C stands for:

Ans: Core

57. In CRAR, A stands for:

Ans: Assets (Capital to Risk Weighted Assets Ratio)

58. IMPS - Immediate Payment Service is an

interbank electronic instant mobile money transfer

service through mobile phones in India, the facility

is provided by:

Ans: NPCI (National Payment Corporation of India)

59. The Central Bank of India has adopted new

measure of inflation:

Ans: Consumer Price Index (CPI)

60. When a cheque is torn into two or more pieces

and presented for payment, such a cheque is

called:

Ans: mutilated cheque

61. How much fee charged to file a complaint

under Banking Ombudsman? Ans: Banking

Ombudsman does not charge any fee

62. Who is the appellate authority in Banking

Ombusdsman?

Ans Deputy Governor of RBI 63. If any customer is

not satisfied by the decision of Banking

Ombudsman, customer can appeal against the

award before the appellate authority within how

many days from the date of receipt?

Ans 30 days

64. ATMs or Cash Dispensing machine which are

owned and operated by Non-Banking Financial

Companies are called:

Ans: White Label ATMs.

65. RBI gave in-principle for Banking license to:

Ans: IDFC and Bandhan

66. Minimum capital requirement for new banks in

private sector is:

Ans: Rs. 500 crore

67. A Non-Banking Financial Company (NBFC) is a

company registered under the:

Ans: Companies Act, 1956

68. Minimum capital requirement for Non-Banking

Financial Company (NBFC) is:

Ans: Rs. 500 crore

69. The NBFCs are allowed to accept/renew public

deposits for a minimum period of:

Ans: 12 months ( and maximum period of 60

months)

70. A NBFCs cannot offer interest rates higher

than the ceiling rate prescribed by RBI? What is

the present ceiling?

Ans: 12.5 per cent per annum

71. Minimum capital requirement for Foreign banks

that want to set up operations in India is:

Ans: Rs. 500 crore

72. What is the minimum paid-up capital

requirement of both small banks and payments

banks in India?

73. RBI extended the timeline for full

implementation of Basel III norms till:

Ans: 31 March 2019

74. SLR ((Statutory Liquidity Ratio)is the amount

a commercial banks needs to maintain in the form

of _______before providing credit to its

customers.

Ans: cash, or gold, or govt. approved securities

(Bonds)

75. _______ is the rate at which banks borrow

funds overnight from the Reserve Bank of India

(RBI) against approved government securities.

Ans: Marginal Standing Facility (MSF) 

To Be Continue.....