Banking Awareness 2024

The Reserve Bank of India on 23 April 2015 revised which sector lending norms to ensure a phased increase in loans to small farmers, and also made it clear that smaller foreign banks will have to meet the 40 percent target over the next five years?: Priority Sector Explanation: A day after the suicide of a farmer at a rally in Delhi, the new guidelines is issued in which credit to......

To deepen the securitisation market, Sebi has made it easier for banks and public financial institutions to act as what, while a new code of conduct has been put in place to safeguard investors' interest?: Trustees Explanation: The primary objective was to rationalise and clarify the role and responsibilities of trustee. Thus, the amendments have been made to allow....

On 6 April 2015, The Oil Ministry has allowed national oil companies Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL) to sell any new natural gas supplies from their small and isolated fields through which process?: Open Tender (Bidding) Explanation: The Oil Ministry on April 1 issued amendment to the guidelines for pricing of gas from small and isolated fields by allowing......

Which Bank in India has topped the list of public sector banks with maximum bad loans including restructured assets as a percentage of total advances?: Central Bank of India Explanation: Reserve Bank of India (RBI) notified to the Finance Ministry that the Central Bank of India's 21.5 percent assets are either bad or have been restructured to keep them from turning into......

On 22 March 2015 which Bank, which is also the world's largest multilateral borrower and lender, has sought Reserve Bank of India's approval to finance various infrastructure projects in the country in Indian rupee?: European Investment Bank (EIB) Explanation: The European Investment Bank (EIB), the world's largest multilateral borrower and lender by volume, has been......

The Centre  on 14 March 2015 has paid Rs 32,800 crore to states as compensation for phasing out of which  Tax in the run-up to roll-out of Goods and Services Tax?: Central Sales Tax Explanation: In December 2014, government introduced the long-pending GST Bill in the Lok Sabha for roll-out of GST which would subsume various levies like entry tax and octroi. Thus the GST......

On 1st March 2015, the government has announced that it is looking forward to make mandatory for non-government provident funds to invest a minimum of what percent of their investible funds in equity or equity related instruments.?: 5 Percent Explanation: Investment of minimum 5 percent and up to 15 percent of the investible funds in equity and equity related instruments were......

1. Currently only PSU executives were eligible to apply for the top Executive place in PSU Banks. Therefore in  an attempt to attract talent from vast market of talent, the Finance Ministry has invited Private sector bankers besides the regular public sector executives to apply for the top job at five large state-owned lenders. Which are these five large state-owned lenders?: Punjab...

10 Major highlights of Rail Budget 2015-16 1. New Trains 1st time in history of Rail budget There is no announcement for any new trains (This will be done after doing a comprehensive analysis and feasibility studies) 2. Passenger Fare No increase in Passenger fares 3. Freight Freight increase up to 10% on select items: 10% for urea, 2.7% for cement and 6.3% for coal, 0.8% for iron....

10 Major highlights of Union Budget 2015-16 for India Key Hightlight: Service Tax is increased from 12.36% to 14% A) Taxation 1    Abolition of Wealth Tax. 2    Additional 2% surcharge for the super rich with income of over Rs. 1 crore. 3    Rate of corporate tax to be reduced to 25% over next four years. 4    No change in.....