BankExamsToday Express Bites: Part 26

  • The full form of WMF is World Monuments Fund
  • Teller is a staff member of a bank who accepts deposits, cashes, cheques and performs other banking services for the public. 
  • Reverse Repo Rate is the rate at which RBI borrows money from banks. 
  • Passbook is a book issued by a financial institution to record deposits, withdrawals and interest earned in a single account. 
  • Whenever a credit card holder crosses his credit limits an over limit fee is charged on his/her account. 
  • IDA- International Development Association - which offers concessional loans and grants to the world’s poorest developing countries. It is a member of World Bank group, established in 1960, headquartered in Washington DC. 
  • Cost Push Inflation is caused by drops in aggregate supply due to increased prices of inputs. Which means, a sudden decrease in the supply of any goods, it would increase the price of that good. 
  • Hedger is a person who uses currency futures primarily for hedging the risks arising out of extreme volatility in foreign exchange rate. 
  • Stand-alone ATM - When an ATM is not connected to any ATM network, it is said to be Stand alone. In this case, transactions at an ATM are restricted to customers of the ATM branch and its link branches. 
  • India’s second largest private sector bank and is now the largest scheduled commercial bank in India is the Federal Bank Ltd. 
  • Central Bank of India was established in 1911 and Nationalised in 1969. It is headquartered in Mumbai. The slogan of Central Bank of India is Build A Better Life Around Us, Central to you since 1911
  • Anand Sinha committee is a working group on resolution regime for financial Institutions. 
  • In defence manufacturing, FDI limit is 100%. It’s entry route is automatic up to 49%. Above 49% under government route.

Take Quiz

1. WMF stands for
a.  World Momentum Federation
b.  World Manufacturing Fund
c.  World Monetary Federation
d. World Monuments Fund

2. Where is the headquarter of International Development Association (IDA) situated?
a. Washington DC
b. Geneva
c. Paris
d. London

3. Cost Push Inflation is caused by drops in
a. currency value
b. aggregate supply
c. aggregate demand
d. equilibrium level

4. When an ATM is not connected to any ATM network, it is said to be
a. worksite ATM
b. offsite ATM
c. offline ATM
d. stand-alone ATM

5. The largest scheduled commercial (Private) bank in India is 
a. Karnataka Bank
b. Federal Bank of India
c. Corporation Bank
d. Canara Bank

6. In which kind of manufacturing FDI limit in India is 100%?
a. airlines
b. transport
c. railway
d. defence

Answers

1. d. World Monuments Fund
2. a. Washington DC
3. b. aggregate supply
4. d. stand-alone ATM
5. b. Federal Bank of India
6.  d. defence
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