BIT BANK

   Governor of Arunachal Pradesh - Nirbhay Sharma
   First Chief Justice of Meghalaya High Court - Justice T Meena Kumari
   New Chief Justice of the AP High Court - Kalyan Jyoti Sengupta
   New Comptroller and Auditor General (CAG) of India - Shashi Kant Sharma
   New Director General of DRDO - Avinash Chander
   New director Oil and Natural Gas Corp’s (ONGC)  - Narendra Kumar Verma

   Iran's New President -Hassan Rohani
   New President of Bangladesh - Abdul Hamid
   New President of China - XI Jinping
   New PM of China - Li Kequiang
  New Prime Minister of Japan - Shinzo Abe
   Venezulea's New President - Nicolas Maduro
   Pakisthan's Prime Minister -Nawaz Sharif
   Next Chief Justice of India (CJI) - Justice P. Sathasivam
   New Precident of FICCI -  Naina Lal Kidwai
   New Prime Minister of Qatar -Sheik Abdullah
   New Prime Minister of Australia -Kevin Rudd
   Italy's President - Giorgio Napolitano
   Italy's Prime Minister -Enrico Letta
   First woman elected to the FIFA executivecommitee - Lydia Nsekera

1. The Reserve Bank of India increased the Bank Rate on July 15, 2013.
What is the present Bank Rate 10.25%


2. Which State/Union Territory has been ranked first amongst 35 States and Union Territories with regard to Financial Inclusion, according to a recent CRISIL report?
1) Puducherry     2) Chandigarh    3) Kerala
4) Goa         5)delhi        6) Andhra Pradesh

State level
The Top five scoring states are Puducherry, Chandigarh, Kerala, Goa, and Delhi.
The Bottom five states are Arunachal Pradesh, Chhattisgarh, Bihar, Nagaland, and Manipur.
 West Bengal and Maharashtra demonstrate the highest disparity among districts

3. The 2013 FIFA Under-20 World Cup was held in Turkey in June-July 2013.
 Which country won the tournament for the first time?
Champions      France (1st title)
Runners-up      Uruguay
Third place      Ghana
Fourth place      Iraq

4. Hemant Soren became the Chief Minister of which of the following states on July13, 2013  Jharkhand


5. Who has been appointed as the Chairperson of the National Commission for Protection of Child Rights (NCPCR)? Kushal Singh

6. Who was honored with the National Lata Mangeshkar Award in May 2013?
(This award is instituted by the Madhya Pradesh government) Hariharan


7. Books and Authors are given. Identify the matched pair?
1) In Custody ---Anita Desai
2) Sea of Poppies---Amitav Ghosh
3) River of Smoke---Amitav Ghosh
4) Unaccustomed Earth---Jhumpa Lahiri
5) The Argumentative Indian ---Amartya Sen


8. Ethanol as a viable bio-fuel can be obtained from Sugarcane
During ethanol fermentation, glucose and other sugars in the corn (or sugarcane or other crops)
 are converted into ethanol and carbon dioxide.
 It can be made from very common crops such as sugar cane, potato, manioc and corn.


9. Who among the following Padma Shri winners is  a sportsperson?
1) Yogeshwar Dutt        wrestler 
2) Girish Nagarajegowda    paralympic high jumper 
3) Dingko Singh        boxer
4) Premlata Agrawal        oldest Indian woman mountain climber the world's tallest peak, Mount Everest, at the age of 48 years

10. Other than Venezuela, which one among the following from
South America is a member of OPEC?Ecuador


11. KB Kookmin Bank is based in South Korea


12. Crystal Award is given by  WEF


13.  the earliest event to take place  Enactment of Banking Regulation Act
1) Establishment of LIC 1956
2) Nationalization of SBI 1955
3) Introduction of First Five Year Plan 1950


14. Who is the Chairman of the National Water Resources Council Prime Minister

15. Which of the following is a pharmaceutical company
2) Piramal India
3) Pfizer 4) Zydus Cadila
5) Sanofi-Aventis

Chevron  petrol

16. Who among the following is a football player Fernando Torres
formula one
1) Fernando Alonso
2) Kimi Raikkonen
3) Lewis Hamilton
4) Sebastian Vettel


17. Organizations and their Headquarters are given below. Which of the following pairs is  correctly matched?
1) ADB---Manila
2) World Bank -Washington
3) APEC---Singapore
4) OPEC Vienna
5) ASEAN---Jakarta
6) WTO---Geneva

18. The founder of World Economic Forum Klaus Schwab


19. The 10 non-permanent members of the United Nations Security Council (UNSC) are elected by the General Assembly for a term of   2 years

20. Which one of the following Car makers does belong to Japan?
Toyota     Honda    Nissan      Suzuki

Hyundai   skorea

21. Identify the matched pair?
1) Bank Rate---10.25%
2) Repo Rate---7.25%
3) Reverse Repo Rate---6.25%
4) CRR---4.% 5) SLR---23%

22. Who among the following was conferred with the Padma Vibhushan Award this year
Raghunath Mohapatra


23. The General Anti Avoidance Rules (GAAR) will come into force from April 1, 2016


24. 'An Angel in the Cockpit' is written by? Vijaypat Singhania

 Kiran Bedi   I dare ,   It's Always Possible

25. The small borrowers in rural areas still prefer to take informal route for their credit needs. Which of the following is the informal route of credit?
Money lenders



Which associate bank of the SBI Group merged in the group in the year 2010? – State Bank of Indore In April 2010

Rajasthan bank merged in which leading private sector bank of country in 2010? – ICICI Bank

J J Irani Committee is related with which subject / issue? – Company Law

 Wholesale Price Index (WPI)? – 2004-05
 Director General of Civil Aviation (DGCA)
Human Development Report released by UNDP

HSBC (Hong Kong and Shanghai Bank)

The RBI is planning to come out with polymer (plastic) currency notes in near future. Of how much  denomination will the first set of polymer note be issued? – Rs. 10

- What is the meaning of Green Banking Channel? – it is a concept of paperless banking to augment population conservation

Socio-Economic General Awareness for RRB  CLERKS,  PO, IBPS PO and other exams

1. The first airline to start space tourism in the world is – Virgin Atlantic

2. The first IT company to cross the US $ 100 Billion mark in the world is – HP (Hewlett Packard)

3. World’s largest Silver ETF is? I-Share Silver Trust

4. What is ETF? – Exchange Traded Fund

5. Which country has recently started ‘Social Impact Bond’ – Britain

6. NFO of which ETF has created the record for attracting largest amount of deposits – UTI Sundar

7. What is India Pay? – A Payment Processing System

8. What is NFO? – New Fund Offer

9. What is DTC? – Direct Tax Code

10. When the DTC would be implemented all over the country? – from 1st April 2011

11. Which is the largest credit card issuer in India (as on 1st August 2010)? – ICICI Bank

12. With what is the word jingle mail is generally associated? – ‘Banned Mail’

13. Which scheme/system is expected to be the biggest beneficiary of the DTC? – New Pension Scheme

14. World’s First Micro Finance Bank (FMFB)  

First Micro Finance Bank is the embodiment of the concept of micro loans as a means to spur development in the third world. These loans are quite small relative to normal Western financial arrangements, but provide access to capital that was never possible due to economic, cultural, or historical reasons.
First Micro Finance Bank was set up by Aga Khan Rural Support Programme and the Aga Khan Fund for Economic Development in March 2002.
After its establishment The First Micro Finance Bank (FMFB) has grown into one of best micro finance institutes in the country.It has expanded to over one hundred branches in just five years and is currently found in four major provinces, as well as Northern areas of the country. The bank was awarded the CGAP transparency award twice in 2004 and 2005

15. Which Indian company launched India’s first online ULIP? – Bajaj Allianz

16. What is ULIP? – Unit Linked Insurance Plan

17. Exchangeable Bonds could be exchanged with – Share of another company

18. According to latest listings of Fortune 500, which is US’ largest corporate? – Wal Mart

19. ‘Whitewash’ system, which was recently in the news, is associated with – Takeover Code

20. India’s first bank to engage in retailing of physical silver is – HDFC Bank

21. Which is the only commercial bank in India that levies ‘non-usage’ levies on its credit card? – Standard Chartered

22. Golden Moore is associated with discovering which phenomena? – Increase in Computing Speed

23. Compounding period in India’s Post Offices’ Recurring Deposit account is –
compounding every 3 months

24. After how much time can a depositor of India’s Post Offices’ Recurring Deposit account can close his account? – after 1 Year

25. India’s largest credit rating agency is – CRISIL

26. Haridas Mundra, famous for securities scam in 1950s, channeled money of which public sector undertaking into stock market? – LIC
27. Who are the regulatory authorities for currency derivatives in India? – RBI and SEBI
28. Who is the regulator if India’s insurance industry? – IRDA
29. IRDA stands for – Insurance Regulatory and Development Authority
30. Who is the regulator of India’s telecom industry? – TRAI

31. TRAI stands for- Telecom Regulatory Authority of India
32. P/E Ratio stands for – Profit Earning Ratio
33. Which ETF is not existent in any market of the world? – Diamond ETF
34. World largest IPO was successfully done by which company? – PetroBas
35. India’s largest IPO was successfully done by – Coal India

36. IPO stands for – Initial Public Offer

37. In Economics Malthus’ theory is related with – Increase in Population

38. As on 30th September, which was India’s smallest mutual fund (based on manageable fund value)? – Shinshei

39. Which leading private sector bank has recently disclosed its plan to invest heavily in the education sector of the country? – HDFC Bank

40. Axis Bank was instituted by which mutual fund group? – UTI

41. Which bank acquired ENAM group’s Investment Banking and Institutional Broking division – Axis Bank
42. A new sedan by the name of ETIOS was launched by which automaker in India? – Toyota

43. Toyota is in joint venture with which Indian company of India? – Kirloskar

BANKING TERMINOLOGY

1. Banks in our country normally publicize that additional interest rate is allowed on retail domestic term deposits of SENIOR CITIZENS (60 and above)

KEY NOTE
SUPER SENIOR CITIZENS (80 AND ABOVE)

2. When the rate of inflation increases Purchasing power of money decreases

3. A centralized database with online connectivity to branches, internet as well as ATM-network which has been adopted by almost all major banks of our country is Core Banking

4.  following is a money market instrument
A) TREASURY BILLS         B) REPURCHASE AGREEMENT
C) COMMERCIAL PAPE        D) CERTIFICATE OF DEPOSIT

KEY NOTE
SHARES AND BONDS NOT CONSIDERED A MONEY MARKET INSTRUMENT


5. Which of the following is necessary while opening deposit accounts in banks?
NOMINATION

6. Which of the following is a banking term?
A. LETTER OF CREDIT B. MIBOR C. FACTORING SERVICES


7.  organizations issue the rules of global trade World Trade Organization


8. One single statement that depicts the financial position of a Bank and / or Business enterprise  
at a given point of time is called:(AS ON DATE) BALANCE SHEET

9. The Reverse Mortgage scheme is launched to give benefit to  groups of society?
SENIOR CITIZENS


10. One of the major challenges banking industry is facing these days is curbing deliberate efforts of some people to bring money earned through illegal activities in circulation. Which of the following act is passed to prevent this activity Prevention of Money laundering Act


11. Which of the following scheme is meant for investment purposes?
a) National saving certificate b) Infrastructure bonds  c) Mutual funds

not LETTER OF CREDIT

12. Basel norms which are important regulatory stipulations are meant for which sector Banking


13. SYSTEMATIC INVESTMENT PLANS RELATES TO: MUTUAL FUNDS


Post office savings schemes NSC RECURRING

14. Euro money is the official currency of European

KEY NOTE NON EURO COUNTRYS
ICELAND                KRONA
NORWAY                 KRONE
SWEDEN                  KRONA
POLAND                  ZLOTY
RUSSIA                    ROUBLE
SERBIA                    SERBIAN DINAR

SWITZERLAND      FRANC
TURKEY                   LIRE
UK                             POUND
UKRAINE                UKRAINIAN HRYVNIA

15. Which of the following is an example of cash less purchase
DEBIT CARD  CREDIT CARD  ATM WITHDRAWAL

16. Whose signature appears on Indian Rs. 100 note  RBI Governor

KEY NOTE
 Finance Secretary signature appears on ONE RUPEE KEY NOTE

17. While discussing investments there is a mention of short term government security. What is this investment?TREASURY BILL

18. NBFCs  NON BANKING FINANCIAL COMPANIES

19. Banking loan against property requires the asset to be free from encumbrances. What does it mean?
THE ASSET TO BE FREE FROM ANY LIABILITY

20. RBI stipulates a healthy mix of CASA in the business figures of banks. 
What is CASA CURRENT A/C AND SAVING A/C

21.  an electronic banking delivery channel?
MOBILE PHONE BANKING    INTERNET BANKING    TELE BANKING      ATM

22. The Rate at which the domestic currency can be converted into foreign currency and vice-versa is known as the EXCHANGE RATE

KEY NOTE
MIBOR MUMBAI INTER BANK OFFER RATE
LIBOR LONDON INTER BANK OFFER RATE

23. Now-a-days Banks are selling third party products. Example of third party product is:
MUTUAL FUNDS

24. Electronic Clearing Service in banks can be availed only by:
A) INDIVIDUALS B) CORPORATES  C) SENIOR CITIZENS

GENERAL AWARENESS

1. The Union Government has approved a proposal to declare 2013 as    Water Conservation Year

BEN BERNANKE is  US    Federal Reserve Chairman
SECRETARY OF STATE  68th  John Kerry,  to hold the office since 1789
DEFENSE SECRETARY   24th Chuck Hagel
TREASURY SECRETARY 76 th Jacob Lew

3. External Affairs Minister Salman Khurshid became the first Indian Minister to visit  countries in 23 years in June 2013 Iraq

4. TAKEHIKO NAKAO  elected the ninth President of the ADB in April 2013?
SHINZO ABE JAPAN PM

5.  RUSSIA  WILL HOST THE 40th G-8 SUMMIT IN JUNE 2014   

6. NORMAN E. BORLAUG is the founder of the WORLD FOOD PRIZE. 
Who WON THIS PRIZE IN JUNE 2013
1)MARCVAN MONTAGUE (BELGIUM)
2)MARY-DELL CHILTON (USA)
3)ROBERT FRALEY (USA)

7.  France is G8 Industrialized Country
Newly Industrialized Country (NIC)   Brazil     Mexico     South Africa    Turkey

PRIVILEGE MOTION is used in the parliament

WORLD OF ECONOMICS/FINANCE
1) Sinking Fund 2) Third World Countries
3) Devaluation 4) Open Door Policy

9. The National Food for Work program has been merged with   MGNREGP (150 days)
IAY rural housing bpl
RAY on slum dwellers & urban poor
BHARAT NIRMAN basic infrastructure in rural areas.
PURA Provision of Urban Amenities to Rural Areas

10. The 5th Summit of BRICS organizations took place in South Africa DURBAN 
G-8 UK
G20 2013 Strelna, Saint Petersburg
18th SAARC Summit in 2013 Nepal To Host
NAM summit   IRAN

11. 'Sacred Games' is written by Vikram Chandra

12. Bajra is FOOD CROP
CASH CROP
Tobacco     Cotton     Coffee     Tea

13. following terms is associated with the game of FOOTBALL
Lineman         Corner kick    Wide out         Full back
Follow on CRICKET

14. ONE RUPEE CURRENCY NOTES bear the signature of the FINANCE SECRETARY

15. FISCAL POLICY is concerned with PUBLIC REVENUE AND EXPENDITURE

16.REGULATORS-INDIA
    Securities and Exchange Board of India SEBI
    Reserve Bank of India RBI
    Ministry of Finance
    Ministry of Corporate Affairs
    Insurance Regulatory and Development Authority  IRDA
    PFRDA

17.PIGGY BANKING is a form of 'Small Savings Bank', popular among the CHILDREN

18. AROS JUNIOR CUP is associated with BADMINTON

19. is  a FAMOUS AUTHOR
1) V.S.Naipaul 2) Anita Desai
3) Kiran Desai 4) Amitav Ghosh

FICCI    NAINA LAL KIDWAI

20.  SMASH terms is  used in  (BADMINTION)
CRICKET
ASHES     CREASE     LBW    BACK FOOT SHOT

21. Banks BORROW MONEY from the RBI ON  REPO RATE

22. matched pair
1) MOORTIDEVI AWARD---LITERATURE
2) ARJUNA AWARD ---SPORTS
3) SARASWATI SAMMAN---LITERATURE
4) SHANTI SWARUP BHATNAGAR AWARD---SCIENCE AND TECHNOLOGY
5) KALINGA PRIZE---SCIENCE

23.B.C. ROY award is given in the field of Medicine
B.C. ROY dob is celebrated as doctor's day on 1 st july

24.GRAND SLAM EVENTS IN TENNIS is played on a GRASS COURT     WIMBLEDON
French Open  CLAY COURT
Australian OPEN SYNTHETIC HARD COURT
US Open ACRYLIC HARD COURT

25. Which of the following is/are the major roles of the Union Ministry of Environment and Forests?
 Prevention and control of pollution    Welfare of animals        Afforestation

26. When the Union Government takes the approval of the Parliament regarding expected expenditure for a short period, instead of presenting full budget, it is known as Vote on Account


27.  schemes was launched by the GOI to give focused attention
to integrated development of infrastructure in urban areas  JNNURM


28. food crop  Maize
cash crop Castor  Cotton  Sunflower   Sun hemp

29. N.R.Narayana Murthy is the author of the book 'A Better India: A Better World'


30. The policy of the RBI that influences the monetary and other financial conditions in the country with the objective of price stability and sustainable growth is known as Monetary Policy

GENERAL AWARENESS

1. hosted the 39th G8 summit on June 17-18, 2013  UK

The FIFA Confederations Cup is an international football tournament for national teams held every four years. Which country hosted the FIFA Confederations Cup in June 2013    Brazil
3. the first Indian-American judge in the US Court of Appeals, the second most powerful court in USA, on June 17, 2013     Srikanth Srinivasan


4. The Finance Minister had set up a committee for giving clear definitions to FDI and FII.
Who is the Chairman of this committee Arvind Mayaram

5. Cabinet Ministers and their portfolios
1) Oscar Fernandes-Road and Highways
2) Girija Vyas ---- Housing and Urban poverty alleviation
3) K.Sambasiva Rao---Textiles
4) Sis Ram Ola ---Labour and Employment
5) Ghulam Nabi Azad--- Health and Family Welfare

6. RBI in its mid-quarter monetary policy on June 17, 2013 left its repo rate unchanged at    7.25%

7. JD (U) political parties ended ties with the BJP and walked out of the National Democratic Alliance on June 16, 2013

8.  elected President of the 68th session of the United Nations General Assembly in June 2013 John Ashe

9. Windhoek is the capital of    Namibia
1) Kenya         NAIROBI
3) Ghana         Kumbi Saleh
4) Zambia        LUSAKA
5) Zimbabwe    HARARE

10. The Central Rice Research Institute is located in    Cuttack

11. Berlin, the capital city of Germany, is located on the river     Spree

12. crops is used to make biofuels     Sugarcane

13. Which of the following Cups is associated with Cricket?
1) Davis Cup           TENNIES
2) Aga Khan Cup     HOCKEY
3) Durand Cup         FOOTBALL
4) Thomas Cup         BADMINTON


14. The currency of Bangladesh is Taka
Rupee INDIA
Indonesian Rupiah
Burmese kyat
Iranian rial, the currency of Iran
Omani rial, the currency of Oman
Yemeni rial, the currency of Yemen

15.  Nobel Prizes was  started in
Physics         in 1901
Chemistry     in 1901
Medicine      in 1901
Peace           in 1901
Economics    In 1968


The Peace Prize is awarded in Oslo,Norway.  Norwegian Nobel Committee.
while the other prizes are awarded in Stockholm, Sweden

The Royal Swedish Academy of Sciences awards the Nobel Prize in Physics,
 the Nobel Prize in Chemistry, and the Nobel Memorial Prize in Economic Sciences;
the Nobel Assembly at Karolinska Institutet awards the Nobel Prize in Physiology or Medicine;
the Swedish Academy grants the Nobel Prize in Literature

16. The term '16 yards hit' is associated with Hockey

17. Lake Superior is the largest fresh water lake in the world. It is in North America

18. Majuli is a large river island in the Indian state of    Assam

19. Turkey joined  organizations as its dialogue partner on April 26, 2013        SCO

20. What is the interest rate on Provident Fund (PF) deposits for 2012-13    8.5%

21. India will host the Thomas Cup and Uber Cup badminton tournaments in May 2014?

22. David Beckham announced his retirement from professional foot ball in May 2013. He is from England

23. full form of FCCBs   Foreign Currency Convertible Bonds

24.  is/are considered a policy rate (s) in the hands of the RBI? Repo rate    SLR


25. The Census in India is done after a gap of every 10 years

26. following terms is used in Economics?
Balance of Trade     Break Even    Fiscal Deficit    Capital Account
NOTE         Kyoto Protocol    Environment

27. Who is the author of the book 'Invisible' Paul Auster

28.following terms is used in the game of Hockey?
1) Backline 2) Centre pass
3) Goal line 4) Marking
NOTE     Downswing NOT

29. NABARD is An apex bank for agriculture

30. 'Between the Assassinations' is written by  Arvind Adiga


1. Application of funds in a fund flow statement
indicates: decrease in working capital.
2. If Acid Test Ratio is less but Current Ratio is more,
what does it indicate?: Excess investment in inventory.

4. In case of advances to limited companies,
modification of charge is required to be done under
what provision?: Section 135 of Companies Act

5. Duty based on value is called: Advalorem.

6. Obliteration of a cheque means: Chemically
altering the instrument.
7. Provisions relating to Crossing are applicable to:
Cheques and drafts only and not in the case of
promissory note and Bill of Exchange.
8. After executing the mortgage deed it should be
registered with Registrar of Assurances within how
much period?: 4 months.
9. What is maximum amount of award that can be
awarded by ombudsman? Rs 10 lacs
10. For Loan against Sundry Debtors, the age of debtors
should be: Normally upto 90 days.
11. Debtors Velocity Ratio or Debt Collection Period
represented by: Debtors /salesx 365
12. Why bank prefer Deferred Payment Guarantee
compared to term loan? Neither the bank nor
party has to pay the money immediately.
13. Which is not a Direct Agriculture? Loan given to
Dealers in Farm Machinery.
14. Liquidity is increased or reduced through: reduction
or increase in CRR
15. Savings Bank can be opened for which of the
following? a) Schools b) Colleges c) Charitable Trust
d)Non Profit Making Bodies: all of these
16. After Death of Depositor, premature payment of FDR
is taken by legal heirs. What will be the interest rate
payable?: No penalty. Rate as applicable for the
period for which deposit remained with Bank.
17. In case of Pledge, what is the right of the bank?:
Bank can sell the pledged goods without
intervention of court after sending a notice to pledgor.

18. When the Business is stated to be at Break Even
Point? When there is no Profit no Loss or
revenue is equal to fixed and variable cost.

19. The charge in case of Loan against Kisan Vikas Patra
is created by: Assignment

20. The charge in case of Loan against Life Insurance
Policy is created by: Assignment
21. Banks obtain Photographs while opening accounts as
per recommendations of which Committee? : Ghosh
Committee
22. Which sector of the economy has the fastest growth?
Services
23. Purchaser request for stop payment of D.D. as goods
supplied are of inferior quality. What should the bank
do? Payment of DD can not be stopped as it is
value paid instrument.
24. What is the effect of Endorsement in Blank?:
It makes the instrument payable to bearer

25. Account Payee Crossing is an instruction to which bank?:
Collecting Bank as proceeds to be credited to the account of payee only.

27. In the case of wrongful dishonour of the cheque,
banker will be liable to whom?: Drawer.

28. Who is the applicant for LC?: An Importer

29. A company is required to file particulars of charge
with which ROC?: In whose jurisdiction
Registered office of the company is located.

30. Who is the Chairman of SEBI?:
31. Who is the RBI Governor

34. Who is the Deputy chairman of Planning Commission?
Dr. Montek Singh Ahluwalia

35. First five year plan was in the year: 1952-1957
36. RBI started operations in: 1935
37. RBI incorporated under which Act?: RBI Act 1934
38. Who is the Chairman of 13th Finance Commission? Dr. Vijay Kelkar.
Who is the Chairman of 14th Finance Commission? DK jain

40. A Cheque with forged signature was paid. Customer
has been given the statement of account and no
objection has been raised for the entries.
What is the liability of the bank?: Bank liable for passing the
cheque with forged signature
41. A mail transfer advice has been received in a
deceased depositor’s account. What is correct in this
regard?: It will be credited to a separate
account opened as the Estate of the deceased
on the request of the legal heirs or returned to
the remitting bank
42. Cash credit accounts are classified as NPAs if
drawings are allowed against DPs treated as
irregular. DP is treated as irregular if the same is
calculated on the basis of a stock statement older
than _____ months?: Three
43. Banks are required to make 100% provisions on the
net outstanding debit balance in the IBR for the
entries outstanding beyond : more than 6 months

45. While opening account of a private limited company,
which document is not required? Certificate of Commencement of Business.

46. Why banks do not grant loan to a minor?
: It cannot be recovered as contract with minor is void abinitio.

47. Drawing Power is calculated on the basis of: Fully
paid up stock minus margin.

48. As per RBI, maximum period for term Deposits has
been prescribed at how many years?: RBI has not
given any instruction regarding maximum
period. It has been suggested by IBA at 10 years.

49. What type of account can be opened as NRE
deposit?: All types of accounts like Saving Bank,
Current account, FDR, RD.