Banking GK Set

1.          Which among the following is correct in context with the White ATMs (Automated Teller Machines)?

(1) ATM owned by government

(2) Outsourced ATM Service by Banks- The ATM named under a brand sponsor bank but ATM machine not owned by the Bank

(3) ATMs not owned by banks but private ATM service providers

(4) ATMs owned by foreign companies

(5) All of the above

Bank of Baroda Privious Year Gk Paper (General Socio-Economic & Banking Awareness)

1. RBI’s open market operation transactions are carried out with a view to regulate—
(A) Liquidity in the economy
(B) Prices of essential commodities
(C) Inflation
(D) Borrowing power of the banks
(E) All the above

Important Banking abbreviations(IBPS)

Write the Full Forms of the following:-

1.       NABARD- National Bank for Agricultural & Rural Development

2.       RTGS- Real Time Gross Settlement

3.       NEFT- National Electronic Fund Transfer

SBI GK Question

1.Earth summit 2012 will be held in _______Rio Da Jenerio
2.Aids day¬____1 Dec
3.Chief justice of india___S H Kapadia

Important Banking Terms

• Banking:- Transaction of money is called Banking.
• Para Banking:-Insurance Selling, Mutual fund selling, Gold selling and other Services leaving the banking is called Para Banking
• NEFT:-National Electronic Fund Transfer.  It has no upper or lower limit. minimum time 2 hours and maximum 48 hours

IMPORTANT ABBREVIATIONS FOR UPCOMING BANK EXAMS 2012

1. AFSPA- Armed Forces Special Powers Act
2. FRP- Financial Restructuring Plan
3. DTAA- Double taxation Avoidance Agreement
4. CCPA- Cabinet Committee on Parliamentary Affairs
5. EFSF- European Financial Stability Facility
6. NPS- New Pension Scheme

Cheque and Demand Draft

Definition of a Cheque "Cheque is an instrument in writing containing an unconditional order, addressed to a banker, sign by the person who has deposited money with the banker, requiring him to pay on demand a certain sum of money only to or to the order of certain person or to the bearer of instrument."

Different Kinds / Types of Cheques

·         Bearer Cheque:When the words "or bearer" appearing on the face of the cheque are not cancelled, the cheque is called a bearer cheque. The bearer cheque is payable to the person specified therein or to any other else who presents it to the bank for payment. However, such cheques are risky, this is because if such cheques are lost, the finder of the cheque can collect