BankExamsToday Express Bites: Part 5

  1. Basel 1 norms focused entirely on credit risk. Credit risk refers to the risk that a borrower may not repay a loan and that the lender may lose the principal of the loan or the interest associated with it. India adopted Basel 1 guidelines in 1999. 
  2. The Reserve Bank of India has extended the timeline for full implementation of the Basel III capital regulations by a year to March 31, 2019
  3. Bombay Stock Exchange (BSE) is India’s and Asia’s oldest stock exchange while Amsterdam Stock Exchange is the oldest in the world which was established in 1602 by Dutch East India Company. 
  4. Under Aadhar Enabled Payment System (AEPS), the maximum amount of transaction per account per day is Rs. 50,000
  5. Nepal Remittance Scheme is a cross-border one way service from India to Nepal for a maximum amount of Rs. 50,000. 
  6. Brown label' ATM are those ATM’s where hardware and the lease of the ATM machine is owned by a service provider, but cash management and connectivity to banking networks is provided by a sponsor bank whose brand is used on the ATM. 
  7. Forex market is also known as the currency market currencies from all over the world are traded here. It is the largest and the most liquid financial market in the world. Currency trading is conducted electronically over-the-counter (OTC), which means that all transactions occur via computer networks between traders around the world, rather than on one centralized exchange. The market is open 24 hours a day & five and a half days a week. 
  8. Current accounts are opened for business transactions, on the name of firm or company .Banks offers no rate of interest on money held in current account. 
  9. MUDRA bank loan is a special loan for small business and entrepreneurs to help them to grow in our country. It is of 3 types: Shishu, where loan of upto Rs. 50,000 is offered; Kishor, where amount of loan may vary from Rs 50,000 to Rs 5 lakh and Tarun, where loan is offered upto Rs 10 lakh. 
  10. Participatory notes, also referred to as "P-notes," are financial instruments used by investors that are not registered with the Securities and Exchange Board of India (SEBI) to invest in Indian securities. Brokers and FII (Foreign Institutional Investor) registered with SEBI issue them. 
  11. According to Section 22 of the Reserve Bank of India Act 1934, the RBI has sole right or authority to issue currency notes except one rupee note (issued and signed by finance secretary). 
  12. An overdraft is a facility granted by the bank to a current account holder where he can carry out debit transaction even if the amount available on the account is insufficient, and up to predefined maximum amount agreed upon by the Bank and the customer. At the end of the month some fees and interest is applied for the use of this facility. 
  13. CRR (Cash Reserve Ratio) is a certain percentage of the total bank deposits that has to be kept in the current account with RBI and banks do not have access to that amount for any economic activity or commercial activity. 
  14. Cheque Truncation System (CTS) is a cheque clearing system undertaken by the Reserve Bank of India (RBI) where instead of physical cheque, an electronic image of the cheque is transmitted to the drawee branch, along with relevant information like data on the MICR band, date of presentation, presenting bank, etc 
  15. A financial market where instruments like securities, bonds having short term maturities usually less than one year are traded is known as Money market. It is regulated by Reserve Bank of India.

Test Your Memory Take Quiz

Basel 1 norms focused entirely on
a. Inflation Risk
b. Credit Risk
c. Liquidity Risk
d. Horizon Risk


In which year did India adopt Basel 1 guidelines?
a. 1999
b. 1998
c. 1986
d.  1987


Which of the following is the oldest stock exchange of the world?
a. New York Stock Exchange
b. Bombay Stock Exchange
c. Amsterdam Stock Exchange
d. Australian Securities Exchange


Under Aadhar Enabled Payment System (AEPS), the maximum amount of transaction per account per day is
a. 50,000
b. 25000
c. 1 Lakh
d. 5 lakh


Nepal Remittance Scheme is a cross-border one way service from India to Nepal for a maximum amount of
a. 1 Lakh
b. 10 Lakh
c. 50, 000
d. 5 lakh


ATM hardware and the lease of the which is owned by a service provider is called
a. White Label ATM
b. Brown Label ATM
c. Yellow Label ATM
d. Pink Label ATM


________ is largest and the most liquid financial market in the world.
a. SIX Swiss Exchange
b. NASDAQ
c. Euronex
d. Forex market


Banks offers no rate of interest on money held ina. Recurring Deposit Account
b. current account
c. saving account
d. fixed deposit account


Which of the following is not a component of the MUDRA bank loans?
a. Shishu
b. Anand
c. Kishor
d. Tarun


According to Section 22 of the Reserve Bank of India Act 1934, the RBI has sole right or authority to issue currency notes except

a. 20 rupee
b. 10 rupee
c. 2 rupee
d. one rupee


________ is a cheque clearing system undertaken by the Reserve Bank of India (RBI) where instead of physical cheque, an electronic image of the cheque is transmitted to the drawee branch.
a. Cheque Truncation System
b. Cheque Transmission System
c. Cheque Transfer System
d. Cheque Turning System
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