Dear Readers,
Welcome to Mentor for Current Affairs. Here I am presenting Financial Awareness One Liners for
upcoming bank exams like IBPS/BOB. Aspirants preparing for those exams can make
use of these questions. Please do like my Facebook Page. Thank you.
1. The provision
of a wide range of financial services by an organization, under one roof is
called as “Universal Banking”.
2. An “Investment Banking” is a specific division of banking
related to raising capital for companies, governments & other entities. It
is also known as “Merchant Banking”.
3. A system of
banking in which a banking organization works at more than one place is called
as “Branch Banking".
4. Oudh Commercial Bank (1881) is the India’s first limited
liability bank in India.
5. ICICI Bank is the first Universal Bank in India.
6. Bank of India is the first Indian Bank to open overseas branch. It
established a branch in London in 1946.
7. State Bank of India has the total number of maximum
branches (nearly 16,000) and holds 1st position in the world.
8. 74% is the maximum ceiling on FDI in equity of Private Sector
Bank.
9. Indian Banks
have the maximum foreign branches in United
Kingdom (UK).
10. Finance Commission is a statutory body & It is
constituted under Article 280 of Indian Constitution.
11. Money issued
by the Central Bank of the country is High Powered
Money.
12. Disguised Unemployment generally relates with Agriculture
Sector. Disguised unemployment is a condition where productivity is low and
where too many workers are filling too few jobs. It is a kind of unemployment
in which some people look like being employed but are actually not employed
fully.
13. Primary Deficit is obtained by Subtracting Interest
Payments from fiscal deficit i.e. (Fiscal Deficit – Interest Payments).
14. Real Time Gross Settlement (RTGS) System is a funds
transfer system where transfer of money take place from one bank to another on
a real time and on gross basis.
15. As on date, fifteen Banking Ombudsmen have been appointed with their offices
located mostly in state capitals.
16. Muhammed Yunus is a Bangladesh Banker, Economist and Nobel Peace Prize
recipient. As a professor of Economics, he developed the concepts of Micro
Credit / Micro Finance.
17. Amount of
Interest accrued / payable is more than ₹ 10, 000
per annum. Income Tax required to be deducted by the bank at source on
interest accrued and paid by them on the fixed deposit.
18. Usually the Equated Monthly Instalment (EMI), used to repay a
loan or an advance, comprises of Principal and Interest.
19. Foreign Currency Non – Resident (FCNR) accounts can be
opened and maintained as Recurring Deposits. In FCNR Accounts the payment of
interest is effected in same currency in which deposit stands.
20. In 1957, RBI
was adopted Minimum Reserve System
(MRS), while issuing currency notes in India.
