Top 50 Banking Awareness Facts – Bank Exams Info

Top 50 Banking Awareness Facts – Bank Exams Info

In India, large numbers of job hunters are preparing for the bank exams. IBPS is the banking entrance exam organization. It conducts various exam to fill up vacant posts in various banks under IBPS. Candidates who are preparing for the bank exams, those must know the Top 50 Banking Awareness facts. Here we are providing the general Top 50 Banking Awareness Facts at our website. Now a days job seekers are interested at bank jobs. Every year many banks conduct the recruitments for appointing the applicants as various vacant posts. This year also released many banking sectors notifications and lakhs of the candidates applied for the bank jobs. Candidates who want to know the banking terminology or banking awareness knowledge; those must download the following Top 50 Banking Awareness Facts.

Top 50 Banking Awareness Facts

Top 50 Banking Awareness Facts:

  1. Automated Teller Machine (ATM) – A machine, activated by a magnetically encoded card that can process a variety of banking transactions.
  2. Bank Ombudsman – A person who hears customer’s complaints against banks.
  3. Bank Ombudsman is appointed by – RBI.
  4. RBI was nationalized in – 1st January, 1949.
  5. Headquarters of World Bank is located in – Washington D.C.
  6. The first bank established in India – Bank of Hindustan.
  7. Bank of Calcutta, Bank of Bombay and Bank of Madras were merged to form Imperial Bank of India in 1921.
  8. The Imperial Bank of India was renamed on 30th April, 1955 to – State Bank of India.
  9. The Headquarters of SBI is located in – Mumbai.
  10. Insurance services provided by various banks is commonly known as – Bank assurance.
  11. Bank Rate means rate at which RBI purchases or rediscounts bill of exchange of commercial banks.
  12. The Central Banking duties in India are performed by – RBI.
  13. BFS stands for – Bureau for Financial Supervision.
  14. NABARD stands for – National Bank of Agricultural Research and Rural Development.
  15. ‘NABARD’ was dedicated to the service of the nation by the late Prime Minister of India. – Mrs. Indira Gandhi.
  16. The Central Office of Reserve Bank of India is now located at – Mumbai.
  17. Credit Card Holders normally pay for credit card purchase within 30 days of purchase.
  18. Base Rate – The minimum rate charged by bank for its most credit worthy customer.
  19. CRR stands for – Cash Reserve Ratio. Top 50 Banking Awareness Facts.
  20. India’s largest public sector commercial bank at present is – SBI.
  21. Drawing two parallel lines across the face of the cheque is referred as – Crossing of Cheque.
  22. A record of all debit and credit entries in a customer’s account is maintained in – Pass Book.
  23. MCIR stands for – Magnetic Ink Character Recognition.
  24. Repo Rate – The Rate at which RBI buys government securities from banks.
  25. Bearer Cheque – The cheque which is payable to any person who presents it for payment at the bank counter.
  26. The EXIM bank of India was established in – 1982.
  27. The banks are required to maintain certain ratio between their cash in hand and total assets called – Statutory Liquid Ratio.
  28. State Co-operative Bank – gives long term loans to agriculture.
  29. CORE stands for – Centralized Online Real-Time Exchange.
  30. Blood relation only – can be a nominee for savings account in a bank.
  31. RBI issuing currency is called as – Legal Tender.
  32. Money Laundering refer to the – Money earned in illegal way.
  33. The loan given to the needy to help them self employed is – Micro credit.
  34. Credit Cards, Debit Cards, ATM Cards and International Cards are considered as – Plastic Money.
  35. RBI make some Open Market Operation Transaction to regulate – Liquidity in economy.
  36. KYC means – Know your customer.
  37. The first rural bank to introduce co-branded ATM card is – Pallavan Grama Bank.
  38. Letter of Credit – A document issued by importers banks to its branch or agent abroad. guaranteeing that a seller will receive payment in full as long as certain delivery conditions have been met. These Top 50 Banking Awareness Facts will useful to the candidates , who are going to appear banking exams.
  39. The action taken by the bank to prevent transaction from an account is called as – Freeze Account.
  40. The bank account in which a depositor can deposit and withdraw money any number of times is called – Current Account.
  41. EFT stands for – Electronic Fund Transfer.
  42. Call Money refers to – lending money for one day.
  43. The Monetary policy of India is announced by the – Governor of RBI.
  44. Open market operation of RBI refers to buying and selling of – Government Bonds.
  45. ARDC stands for – Agricultural Research and Development Center.
  46. Dishonor of Cheque – Non-payment of a cheque by the paying banker with a return memo giving reasons for the non-payment.
  47. The foreign exchange reserves of India are kept in the custody of – RBI.
  48. Bank loans in banking terminology are generally known as – NPAs (Non-Performing Asset).
  49. Reverse repo rate– The rate at which the central bank of a country (RBI in case of India) borrows. money from commercial banks within the country.
  50. Rate of Interest is determined by – Commercial Banks.

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