Saturday, 29 April 2017

Banking Questions Test (MCQ)- 59

1.     On a cheque issued by a customer the words bearer or order are not written. This cheque will be treated as-
a.    A bearer cheque
b.    An order cheque
c.     This is not a valid cheque

SENIOR CITIZEN'S SAVINGS SCHEME-2004

Ø  Interest @ 8.4% per annum from the date of deposit on quarterly basis w.e.f. 01-04-2017 ( for Quarter-I)
Ø  Minimum deposit is Rs 1000 and multiples thereof. Maximum limit of 15 lakhs.
Ø  Maturity period is 5 years and can be extended for a further period of 3 years.
Ø  Age should be 60 years or more, and 55 years or more but less than 60 years who has retired under a Voluntary Retirement Scheme or a Special Voluntary Retirement Scheme on the date of opening of the account within three months from the date of retirement.
Ø  No age limit for the retired personnel of Defense services provided they fulfill other specified conditions.
Ø  The account may be opened in individual capacity or jointly with spouse.
Ø  TDS is deducted at source on interest if the interest amount is more than Rs 10,000/- per annum.
Ø  Investment up to Rs 1, 50,000/- per annum qualifies for Income Tax Rebate under section 80C of IT Act.
Ø  Interest can be automatically credited to savings account provided both the accounts stand in the same bank...
Ø  Premature closure is allowed after one year on deduction of 1.5% of the deposit and after 2 years on deduction of 1%.
Ø  No withdrawal permitted before the expiry of a period of 5 years from the date of opening of the account.

Ø  Non-resident Indians (NRIs) and Hindu Undivided Family (HUF) are not eligible to open an account.

Micro, Small and Medium Enterprises (MSMEs)

Computation of Adjusted Net Bank Credit (ANBC)

What is included under Weaker Sections under priority sector?

NPA-Provisioning

Sukanya Samriddhi Account (सुकन्या समृद्धि योजना)

Wednesday, 26 April 2017

Banking Questions Test (MCQ)- 58

1.    The following is a promissory note:-
a.    I Promise to pay Krishan Rs.1000 after my promotion in Scale –II
b.    I promise to pay Sridhar Rs. 1000 one month after his marriage to Seema

CREDIT GUARANTEE TRUST FOR MICRO & SMALL ETERPRISES (CGTMSE)

The CGTMSE provides guarantee cover for the credit facilities provided by member lending institutions (MLIs) to Micro and Small Enterprises (both manufacturing and service sectors) through its Credit Guarantee Scheme (CGS). Retail Credit Facilities and Loans to Medium Enterprises (both manufacturing and service sectors) are not covered under the scheme. The purpose of the scheme is to provide hassle free credit to Micro and Small Enterprises which are unable to provide collateral security/third party guarantee to the Bank by providing guarantee cover in these accounts to the Member Lending Institutions (Banks).

PUBLIC PROVIDENT FUND (PPF) 1968

Ø  Interest rate of 7.9% per annum w.e.f. 01-04-2017
Ø  Minimum deposit is 500/- per annum. Maximum deposit is Rs. 1,50,000/- per annum
Ø  The scheme is for 15 years.
Ø  Investment up to Rs 1, 50,000/- per annum qualifies for Income Tax Rebate under section 80C of IT Act.
Ø  Interest is completely tax-free.
Ø  Deposits can be made in lump sum or in 12 installments.
Ø  One deposit with a minimum amount of Rs 500/- is mandatory in each financial year.
Ø  Withdrawal is permissible from 6th financial year.
Ø  Loan facility available from 3rd financial year up to 5th financial year. The rate of interest charged on loan taken by the subscriber of a PPF account on or after 01.12.2011 shall be 2% p.a. However, the rate of interest of 1% p.a. shall continue to be charged on the loans already taken or taken up to 30.11.2011.
Ø  Free from court attachment.
Ø  Non-Resident Indians (NRIs) not eligible.
Ø  An individual cannot invest on behalf of HUF (Hindu Undivided Family) or Association of persons.
Ø  Ideal investment option for both salaried as well as self-employed classes.

Micro, Small and Medium Enterprises (MSMEs)

Computation of Adjusted Net Bank Credit (ANBC)

What is included under Weaker Sections under priority sector?

NPA-Provisioning

Sukanya Samriddhi Account (सुकन्या समृद्धि योजना)


Tuesday, 25 April 2017

BASIC ACCOUNTANCY

best book
·       The Journal is the beginning. It is the place of systematically recording all business transactions

Banking Questions Test (MCQ)- 57

1.    A clean bill is one which
a.    does not contain any superimposed clauses regarding manner of its payment
b.    does not indicate defective condition of the goods or packing
c.     is not accompanied by any document of title to goods

Monday, 24 April 2017

Micro, Small and Medium Enterprises (MSMEs)


Computation of Adjusted Net Bank Credit (ANBC)

Adjusted Net Bank Credit (ANBC)

Bank Credit in India [As prescribed in item No.VI of Form ‘A’ under Section 42 (2) of the RBI Act, 1934].
I
Bills Rediscounted with RBI and other approved Financial Institutions
II
Net Bank Credit (NBC)*
III (I-II)
Bonds/debentures in Non-SLR categories under HTM category+ other investments eligible to be treated as priority sector +Outstanding Deposits under RIDF and other eligible funds with NABARD, NHB and SIDBI on account of priority sector shortfall + outstanding PSLCs
IV
Eligible amount for exemptions on issuance of long-term bonds for infrastructure and affordable housing
V
Eligible advances extended in India against the incremental FCNR (B)/NRE deposits, qualifying for exemption from CRR/SLR requirements.
VI
ANBC
III+IV-V-VI

Banking Questions Test (MCQ)- 56



1.    What is the target of Export Credit for Indian Commercial Banks?
a.    12% of Adjusted Net Bank Credit
b.    12% of Credit Equivalent of Off Balance Sheet Exposure.

Sunday, 23 April 2017

Banking Questions Test (MCQ)- 55


1.    Crystallization of import bills under L/C means:
a.    Bill is scrutinized whether it is as per L/C terms or not
b.    It is ensured that currency of L/C & insurance is same or not