Which Bank established First Talking ATM in India ?
Union Bank of India (Union Bank)
Union Bank of India (Union Bank)
Which State gets the country’s first Talking ATM ?
Gujarat
Gujarat
Talking ATM Specially designed for ______ people ?
Blind
Blind
Who inaugurated the country’s first Talking ATM ?
CMD of UBI, D. Sarkar
CMD of UBI, D. Sarkar
Talking ATM has what kind of Special Interface ?
Voice Interface
Voice Interface
Which was the second bank to launch the Talking ATM in India ?
State Bank of India
State Bank of India
Which company installed White Label ATM first in the country ?
Tata
Tata
What is difference between banks & NBFCs ?
NBFCs lend and make
investments and hence their activities are akin to that of banks; however there
are a few differences as given below:
investments and hence their activities are akin to that of banks; however there
are a few differences as given below:
NBFC cannot accept demand deposits;
NBFCs do not form part of the payment and settlement system and
cannot issue cheques drawn on itself; deposit insurance facility of Deposit
Insurance and Credit Guarantee Corporation is not available to depositors of
NBFCs, unlike in case of banks.
cannot issue cheques drawn on itself; deposit insurance facility of Deposit
Insurance and Credit Guarantee Corporation is not available to depositors of
NBFCs, unlike in case of banks.
What is Private Banking?
Banking services offered to high net-worth individuals. Private banking institution assists the
high net-worth individual in investing his/her money in exchange for
commissions and fees. The term "private" refers to the customer
service being rendered on a more personal basis.
high net-worth individual in investing his/her money in exchange for
commissions and fees. The term "private" refers to the customer
service being rendered on a more personal basis.
What is BSBDA?
Under the guidelines issued on August 10, 2012 by RBI: Any individual, including poor or those from weaker section of the society, can open zero balance account in any bank. BSBDA guidelines are applicable to "all scheduled commercial banks in India,
including foreign banks having branches in India".
including foreign banks having branches in India".
All the accounts opened earlier as
'no-frills' account should be renamed as BSBDA. Banks are required to convert
the existing 'no-frills' accounts‟ into 'Basic Savings Bank Deposit Accounts'.
The 'Basic Savings Bank Deposit Account' should be considered as a normal
banking service available to all customers, through branches . The aim of
introducing 'Basic Savings Bank Deposit Account' is very much part of the
efforts of RBI for furthering Financial Inclusion objectives.
'no-frills' account should be renamed as BSBDA. Banks are required to convert
the existing 'no-frills' accounts‟ into 'Basic Savings Bank Deposit Accounts'.
The 'Basic Savings Bank Deposit Account' should be considered as a normal
banking service available to all customers, through branches . The aim of
introducing 'Basic Savings Bank Deposit Account' is very much part of the
efforts of RBI for furthering Financial Inclusion objectives.
ImportantWhat is BPS (Basis Points)? BPS (Basis point) : -
BPS is an acronym for basic points is
used to indicate changes in rate of interest and other financial instrument. 1
BASIC POINT IS EQUAL TO 0.01% So when we say that repo rate has been increased
by 25 bps, it means that the rate has been increased by 0.25%
used to indicate changes in rate of interest and other financial instrument. 1
BASIC POINT IS EQUAL TO 0.01% So when we say that repo rate has been increased
by 25 bps, it means that the rate has been increased by 0.25%
What is SWIFT?
SWIFT
:- Society for worldwide Interbank financial tele- communication.
:- Society for worldwide Interbank financial tele- communication.
India was 74th Nation to join SWIFT Network.
SWIFT Code is a standard format of bank Identifier code. This code
is used particularly in International transfer of money between banks.
is used particularly in International transfer of money between banks.
A majority of FOREX related message are sent to correspondent banks abroad through SWIFT.
SWIFT Code consist 8 or 11 character when code is 8 digit, It is referred to primary office 4 – bank code
2 – country code 2 – location code 3 – branch
code (optional).
code (optional).
What is NOSTRO and VOSTRO account?
NOSTRO Account: A NOSTRO account is maintained by
an Indian bank in the foreign countries.
an Indian bank in the foreign countries.
VOSTRO Account: a vostro a/c is
maintained by a foreign bank in India with their corresponding bank.
maintained by a foreign bank in India with their corresponding bank.
What is Bancassurance ?
Bancassurance stands for distribution of financial products particularly the insurance
policies (both the life and non-life), also called referral business, by banks
as corporate agents, through their branches located in different parts of the
country.
policies (both the life and non-life), also called referral business, by banks
as corporate agents, through their branches located in different parts of the
country.
What is Money Laundering ? Money
laundering is the processes of concealing the source of obtain money. Money or
funds obtained through illegal activities are presented as legitimate.
laundering is the processes of concealing the source of obtain money. Money or
funds obtained through illegal activities are presented as legitimate.
What is the difference between Nationalized bank and Private Bank ?
A Nationalized bank is one that is owned by the government of
the country. Since the people decide who the government is, they are also
referred to as public sector banks. The government is responsible for the money
deposited into the accounts of these banks. Where as a private sector bank is
one that is owned by an independent individual or a company that is controlled
by a few individuals. In short, the bank is owned by someone else and they run
the bank. The person owning/running the bank is responsible for the money
deposited into the accounts of these banks
the country. Since the people decide who the government is, they are also
referred to as public sector banks. The government is responsible for the money
deposited into the accounts of these banks. Where as a private sector bank is
one that is owned by an independent individual or a company that is controlled
by a few individuals. In short, the bank is owned by someone else and they run
the bank. The person owning/running the bank is responsible for the money
deposited into the accounts of these banks
