Banking and Financial Awareness – 20

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Agnihotri Ravindra

15 Mar, 2013

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Banking Awareness, Uncategorized,

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Regional Rural Banks in India

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1) Regional Rural Banks (RRBs) were established in India of recommendations of which committee’s report? – Narasimhan Committee (The Narasimham committee on rural credit recommended the establishment of Regional Rural Banks (RRBs) on the ground that they would be much better suited than the commercial banks or co-operative banks in meeting the needs of rural areas. Initially, five RRBs were set up on October 2, 1975. Accepting the recommendations of the Narasimham committee, the government later passed the Regional Rural Banks Act, 1976)

2) Which was the first public sector bank to come out with the voluntary retirement scheme (VRS) for its employees? – Punjab National Bank – PNB (in 2000)

3) Who is the head of a newly constituted 4-member panel, which would give clear definitions of FDI (Foreign Direct Investments) and FII (Foreign Institutional Investors) with an aim to remove ambiguity over the two types of foreign investments? – Arvind Mayaram (Secretary, Economic Affairs)

4) It was announced in the Union Budget 2013-14, that all public sector banks would have ATMs at all of their branches. What is the deadline for implementation of this announcement? – 31 March, 2014

5) Announcement of India’s first all-woman bank was made in the Union Budget 2013-14. How much initial capital would be provided by the Union Govt. to open this bank? – Rs. 1,000 crore (The proposed bank will lend mostly to women and women run businesses, support women SHGs (self help groups) and women’s livelihood)

6) Which three private sector banks were charged on 14 March 2013 by independent investigative journalist, Aniruddha Bahal of, of being allegedly involved in widespread money laundering activities? – ICICI Bank, HDFC Bank, Axis Bank ( conducted numerous sting operations to vindicate its stand)

7) During March 2013, which company/corporation was chosen by pension fund regulator PFRDA as the default annuity service provider for subscriptions exiting from the New Pension System (NPS) and seeking withdrawal of accumulated pension wealth? – Life Insurance Corporation (LIC)

8) What is the name of Microsoft’s new version of its popular office suit, which was launched on 4 March 2013 especially for Indian small businesses and enterprises? – Office 365 (Main feature of Office 365 is the cloud-based support for its users)

9) The interim pension regulator PFRDA has recently allowed fund managers for the private sector National Pension System (NPS) to invest directly into equities. What was the investment regulation for NPS till now? – Till now fund managers of NPS could only invest in equities indirectly, i.e., through mutual funds (NPS, which has been set up for private citizens, has an option for investing up to 50% of a subscriber’s corpus in equities)

10) Financial sector regulators – The Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority (IRDA) and Pension Fund Regulatory and Development Authority (PFRDA), on 8 March 2013 joined hands by signing an agreement under the auspices of the Financial Stability and Development Council (FSDC). What are the main objectives of this move? – These regulators would monitor financial conglomerates (FCs) of the country as well as approve a national strategy for financial education (The term FC stands for financial conglomerates and applies to financial groups like ICICI, SBI and HDFC, which are engaged in varied financial activities like banking, mutual funds, insurance and private equity)

| SBI | RRB | IBPS | General Awareness | IBPS PO | Banking MCQ | Banking Awareness 2015 | General Awareness 2015 | IBPS Online Test | Banking Awareness PDF | IAS |

The Swedish newspaper was recently asked it to delete the reference made by President Pranab Mukherjee to the Bofors scam in an interview to it, as a claim protested by the Indian Government on 27 May 2015. India has expressed disappointment over the disrespect shown to the President, the newspaper has defended its right to publish what was said during the interview.

Know, who is Vijay Kelkar and what is PPP !

Vijay Kelkar is a renowned economist and a former Finance Secretary. He was appointed head of newly constituted committee to give recommendations to recast the model of Public-Private-Partnership (PPP) model in India. India is one of the largest PPP market with over 900 projects. The Kelkar committee will review the PPP policy, suggest a better risk-sharing mechanism between private developers and the government after analysing such projects.

Know, who is Yaduveer Krishnadatta Chamaraja Wadiyar !

Yaduveer Krishnadatta Chamaraja Wadiyar was crowned as the new Maharaja of of Mysuru (Mysore) royal family. He is the 23-year old grandson of Princess Gayathri Devi, who was the eldest daughter of the last Maharaja of Mysore, Sri Jayachamarajendra Wadiyar. The coronation was held at Mysuru’s famous Amba Vilas Palace, which was decked up for the occasion.

Know about Sepp Blatter!

Swpp Blatter, was re-elected as FIFA president for a fifth term at the 65th Annual Congress of FIFA held at Zurich for four year term.

Prince Ali bin al-Hussein of Jordan stood against Blatter in this election. It is worth mentioning that FIFA is going through a major controversy regarding corruption in the organisation with two FIFA vice presidents and a recently elected FIFA executive committee member still in custody.


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