BANKING AWARENESS - ONE LINER Banking ombudsman is appointed by – RBI Tax free union territory

BANKING AWARENESS - ONE LINER Banking ombudsman is appointed by – RBI Tax free union territory – Pudhucherry Maximum age for retirement of MD/CEO for all private banks – 70 years New savings schemes introduced by SBI for children – pehlaKadam and PehliUdaan Financial inclusion – Ensuring accessibility to bank accounts for many/all. Vijay Mallya ‘willfull defaulter is declared by – United Bank of India Mutual funds are regulated by – Securities Exchange Board of India (SEBI) Equator- the term associated with Banking operations U.T.I officially changed by – Axis bank Regulatory authority of rural banks – RBI and NABARD EBT – Electrical Benefit Transfer BMB Smartbanking – internet banking facility launched by BharatiyaMahila Bank NABARD – Handles refinance for agriculture and rural development in India ICICI – allow to open bank account for children above 10 Kotak Mahindra Bank – launched FACEBOOK based social networking instant fund transfer SBI – introduced first multi-currency international debit card. Microsoft – ready to set up data centres end of 2015. The foreign exchange reserves are kept by – RBI Bank of Rajastan merged with UCO bank Drawer in bank cheques – who issues the cheque. Drawee in bank cheque – always the banker Union bank – first bank to set up talking ATM SBI Associate banks – initially seven banks During inflation tax should be increased. Industrial sector – biggest tax paying sector in India SBI – first Indian bank to touch market capital up to Rs.100000 crore Insurance sector regulated by – Insurance Regulatory and Development Authority (IRDA) United commercial bank – Expanded form UCO bank TRIPS and TRIMS associated with – WTO SBI and Bank of India – first two Indian banks to open branch in Pakistan The merchant banking activities in India governed by - SEBI RBI establish in – April 1, 1935. Original name of SBI – Bank of Calcutta and Bank of Bengal SBI comes into existence in – 1955 Hum Hai Na is the slogan of ICICI World bank established in 1944 Headquarter of world bank is Washington DC. World bank 12th president – Jim Yong Kim SIDBI – Small Industries Development Bank of India NHB – National Housing Bank NHB established in 9th July, 1988 NDTL – Net Demand and Time Liabilities. KYC – Know Your Customer Inflation – increase in general level of price for goods and service Bearer cheque – payable to any person who present it for payment at the bank counter Capital market deals in – Long term funds and Debt and Equity Banking commission established in – 1972 IRDA headquarter – Hyderabad SBI formulated under – SBI Act 1955 ICICI – first universal bank established in country Scheduled commercial banks got license under – Banking Regulation Act 1949 Laxmi commercial bank merged with Canara bank If ATM is out of order it is called operational risk When computer is not worked in banks is called operational risk Credit risk – If loans are not repaid in time Market risk – If the bank products failed to service in market IFSC denotes Branch code of any bank IFSC consist of 11 digits Global bank – Take over by Oriental bank of commerce RBI does not issue one rupee note Bank of baroda – first bank to open branch outside India at London NRI deposits called as Hot Money LAB – Local Area Banks Oriental bank of commerce – first bank to issue capital to public. SEBI consists of chairman and five members Bank rate – when RBI desires to restrict expansion of credit it raises. Dishonour of the cheque – when bank returns the the cheque unpaid Mortgage is the security on immovable property FINO – Financial Information Network and Operation Limited When the purchasing power of money decreases then rate of inflation increase

 

Bank of Rajasthan merged with ICICI bank not UCO bank.

 

Bank of India opened first branch outside India in London. It sold its Uganda operations to BOB.