BCSBI Recollected

BCSBI recollected question and Exam Tips:;

Very basic questions from IIBF prescribed book

Kindly visit BCSBI site for Latest Update’s

QUESTIONS ASKED IN TODAYS BCSBI.. ( based on memory) PART 2
1. Case studies based on nominee
2. two nominees applicable in which clause.. E OR S.. or F OR S
3.BSCBI is compulsry for banks to follow or not
4. educational. loan for 25 lakhs with 10 percnt margin... how much you insist for collateral
5. same. partners for different companies... wthr right of sett off can be applied or not for one of the firms debts
6. questions on HUF KARTA
7.BANKS CHALLENGE IN IMPLEMENTING DIGITAL TECHNOLOGY
8.banks time for calling customers over phone
9. mobile phone ettiquete
10.norms.for customers to approach BCSBI for guidance for geting loan.. a the limit of the loan
11.questions on customer orientation
12. under which sectn of NI act cheques has to be paid by the bank.... to be continued

1. Customer is defined in 
a. RBI Act b. NI Act c. BR Act d. KYC Policy 
2. Partnership firms M/s ABC and M/s CBA has same three partners. Account of M/s ABC is overdrawn by Rs. 75,000 and the other firm’s account has Rs. 90,000 as credit balance. Can bank use the right of set off? (2 marks) 
a. Can use as same partners b. Cannot set off as two different firms 
Don’t remember the other options
3. In which of these circumstances bank should not disclose customer details?
a. Request under Banker’s Books Evidence Act 1891
b. Under Section 133 of Income Tax Act
c. When asked by State /Central Govt official
d. In public interest 
4. A non-customer deposits Rs. 3000 to be credited to the account of Mr. Z in another station by NEFT. He had wrongly mentioned the account number and the amount is now in Bank’s suspense Account. What is the relationship between bank and Z?
a. Debtor-Creditor
b. Trustee etc 
5. A document duly stamped and given by a customer authorising another person to act on his behalf 
a. Power of attorney 
b. Mandate 
6. Incorrect statement about HUF 
a. Lady member can perform the role of Karta 
b. Karta and coparceners may possess self-acquired properties other than HUF property and these can be attached for HUF dues
c. On death of a coparcener, his share may be handed over to his wife, daughters and other female relatives 
7. Two of three trustees approach bank to open an account and allow the two of them to operate as the third trustee is abroad. As per trust deed, trust is to be jointly operated by three of them 
a. Get power of attorney from third trustee 
b. Account cannot be opened since trust deed mandates operation by three trustees.
8. Borrowing powers of the Board of Directors in a company are mentioned in which document?
a. Articles of Association
b. Memorandum of association
c. Certificate of Incorporation
d. Board resolution
9. In case of fixed deposit, interest can be charged as 
a. Daily basis on customer request 
b. Applied monthly or bimonthly as required provided that compounded amount does not exceed the amount to be paid quarterly 
c. Any periodicity requested by customer
d. Only at the end of maturity 
10. FCNR accounts can be opened in ---------------- and for a period of --------
a. Any freely convertible currency with period of 5 years
b. Any freely convertible currency with period of 3 years
11. Full form of DICGC 
12. Amount eligible to be transferred to DEAF
a. Any amount unclaimed in deposit account for a period of 10 years or more
b. Any amount remaining unclaimed in any account for a period of 10 years
c. Both a and b 
d. Any amount unclaimed for a period of two years or more 
13. In order to meet implied needs of a customer, ------------- is required from banker
a. Creativity and presence of mind
14. Good delivery constitutes which all elements ? 
a. Speed, timeliness , accuracy, courtesy and concern 
15. Transaction cap of mobile banking for purchase of goods and services 
a. As per each bank’s rule 
16. Mobile banking can be provided through 
a. Mobile banking App
b. USSD
c. SIM Kit
d. SMS service 
17. An asset can be classified as NPA when 
a. Interest or Principal is overdue for 90 days or more 
b. When CC Account is out of order for 180 days
c. When bill of exchange not honoured for 120 days etc 
18. Maximum amount that can be granted under Skill Loan Scheme?
1.5 lakhs
19. In order to set up extension counter in a hospital in a Tier I city, bank needs to take approval from 
a. RBI
b. No permission required 
c. Ministry of Finance etc 
20. Demat account can be used to hold 
a. Shares
b. Mutual funds 
c. Debentures
d. All of these 
21. Demat account cannot be use to hold 
a. Deposit to be handed over to broker
b. Exchange traded funds
c. Mutual funds etc 
22. Other negotiable instruments 
a. Interest warrant 
b. Bankers draft etc 
23. Which section of NI Act says that Bank should honour customer’s cheques?
a. Section 31 
24. Not a characteristic of negotiable instruments.
a. in writing
b. date of payment must be certain
c. Transferrable
d. Duly stamped
25. Which one of the following is not a structural difference between marketing of goods and services?
a. Intangibility
b. inseparability
c. Homogeneity
d. perishability
26. Marketing Mix does not contain
a. Product
b. Price
c. Place and promotion
d. Image of the organisation
27. Which one of the following are not permitted to carry out regular transactions for customers?
a. Business correspondents 
b. Business facilitators.
28. Which one of the following is not a difference in marketing goods and services?
a. Services are produced and consumed simultaneously
b. Services are intangible
c. Services provided are uniform
29. Constraints in digital banking 
a. Embracing of new technology
b. Customer education
c. Safe and friendly environment 
Choices are combinations of above
30. Biometric authentication in micro ATMS done by 
a. Business Correspondents
b. UIDAI by biometric association with its database
31. In mobile banking for debit transactions following checks are made
a. Face to face interaction with users 
b. Two factor authentication
c. End to end encryption of mPIN
Choices are combinations of above 
32. Estimates committee has made recommendation that succession certificate should not be insisted where amount of credit to the depositor does not exceed Rs. 25,000. What is the correct instruction?
a. If nomination/Survivor clause is present then succession certificate should not be insisted for any amount. 
33. Account opened with Anyone or survivor clause, all three of the account holders die together in an accident, the nominee has produced the death certificate and amount outstanding in account is Rs. 20,000. Action to be taken by bank
a. Ask nominee to provide Succession certificate 
b. Ask nominee to provide letter of administration
c. Probate to be given
d. Transfer the money without asking for documents (a) to (c).
34. As per Goiporia committee, Enquiry or May I Help You counter should be present in 
a. Head Office
b. Regional Office
c. All Urban and Metro branches
d. All branches except very small branches 
35. ---------------is a matrix of different components like source of funds, level of income, volume and frequency of transactions, origin and destination of funds etc. 
a. Transaction profile
b. Organisation Profile
c. Marketing Profile etc 
36. Main grievances of small depositors does not include
a. Difficulty in opening of account 
b. Delay in updating of passbook
c. Difficulty in closing of account
d. Account being classified as dormant/inoperative without any notice. 
37. What is meant by Grievance Escalation System?
If the customer is not satisfied with the reply offered by bank, then he can approach higher authorities for redressal of grievances
38. If branch manager is not able to respond to a complaint within how many days should he escalate the matter to regional office?
7 days 
39. In order to reduce the complaints filed to Banking Ombudman, what is suggested?
Appointment of internal Ombudsman
40. What all functions does not fall under customer service committee of the board?
a. Triennial audit of customer satisfaction surveys
b. Formulation of Comprehensive Deposit Policy 
c. Annual Survey of customer satisfaction
d. Salary increase to employees for better customer service
41. Which of the following is not part of mandatory displays in branches?
a. Information available in booklet form
b. Details of CEO of the bank
c. Banking Ombudsman details
d. Details of Regional Manager etc
42. What does not come under COPRA Act?
a. Right against unfair trade practices
b. Right to have access to variety of goods
c. Right to free education
43. Which of the following needs are most important for a person?
a. Emotional needs
b. Interpersonal needs etc 
44. Which are the three interpersonal needs?
a. Need for inclusion, Need for control and Need for affection
45. What is meant by encoding of message ?
Sender needs to use the appropriate language or expression
46. Correct order for communication.
a. Conceiving the message, Encoding the message, decoding the message and providing feedback
47. Which of the following about BCSBI is wrong?
a. Membership in BCSBI is compulsory
b. Membership is voluntary 
c. Its an independent and autonomous body
d. Registered as society
48. Who has authority to approve research activities in BCSBI?
Governing Council
49. Function of Chief Executive Officer in BCSBI 
a. Preparation of annual budget for submission to the Society
b. Sanction expenditure and investments of BCSBI
c. Financial and managerial powers etc
50. Who is the raison d’etre (main purpose) of BCSBI ?
a. RBI 
b. common man
c. Customer service 
51. BCSBI modelled on basis of which country?
UK
52. BCSBI rating of member banks is using a scoring scale of 
a. High, Above average, average and below average
53. In order to get credit counselling from BCSBI which is correct 
a. A fee has to be paid
b. Can apply only through member banks 
c. Concerned bank is free to accept the debt restructuring plan in full or with modifications
54. Customer of a bank not a part of BCSBI can escalate complaint to 
a. BCSBI
b. Banking Ombudsman
c. Customer Service Department of RBI
55. Which of the following not included under Code of Bank’s Commitment to Customers?
a. Deposit accounts
b. Remittances within India
c. Foreign Exchange services
d. Merchant banking
56. BCSBI puts following obligations on the customers?
a. No obligations
b. Obligation of customers varies from bank to bank 
57. Objectives of Code of Bank’s commitments to customers?
a. Fair treatment of customers
b. Increase transparency
c. foster confidence in banking system
Choices are combinations of three 
58. As per BCSBI Code regarding Do Not Call registry (Correct One)
a. Bank will not transmit unsolicited commercial information if you have registered with ‘Do not call registry’
b. Bank will enrol customer in Do Not Call Registry after 6 months of opening account etc 
59. Change in interest rate on loan products will be informed within 
a. Fortnight 
b. One-month etc 
60. As per BCSBI Code, if there is any change in fee or new fee is introduced, it will take effect 
a. Retrospectively if needed
b. revised charges retrospectively and new charges after one month
c. Prospective effect after giving notice of one month
61.As per BCSBI code, In case of revision in fees it will be communicated to customer by( Incorrect option)
a. Account statements
b. Email and SMS alerts 
c. TV advertisements 
d. Notice board at branches 
62. As per BCSBI code regarding privacy of customer(Incorrect option)
a. Bank will treat personal information as private and confidential till he is a customer of the bank
b. Bank will treat personal information as private and confidential even when he is no longer a customer of the bank. 
63. As per BCSBI code on CICs, which of the following is wrong 
a. Bank will provide information about credit availed by customer to CIC at periodic intervals
b. On request, will give information about CIC(s) to which details are shared
c. Bank will not share copy of credit information obtained from CIC 
64. In BCSBI Code, 
a. You denotes the customer and we denotes the bank
b. ‘You’ denotes the member bank and ‘We’ denote BCSBI etc 
65. As per BCSBI Code, when customer makes a complaint Bank will inform the customer
a. how to do so 
b. where a complaint can be made
c. Whom to approach for redressal 
d. same complaint is not raised again by customer 
options are combinations
66. As per BCSBI Code, for collection of dues customers should be contacted between 
a. 7 hrs and 1900 hours 
67. Nominee can be two persons in the case of accounts opened as 
a. Either or Survivor
b. Former or survivor
c. Joint accounts with joint operation etc 
68. in case of revision in minimum balance to be maintained in current account and as customer’s current account does not meet the minimum balance in the last quarter bank as per BCSBI code should 
a. Inform customers 30 days in advance of any change in minimum balance
69. As per BCSBI Code, in case of inoperative/dormant accounts
a. Bank should inform three months before account is made as inoperative
b. Inform when account is made inoperative etc 
70. In case of cheque collection policy, we will provide you compensation for delay in collection of instruments as per 
a. Compensation policy of respective bank
b. Compensation policy of RBI
c. compensation policy of IBA etc 
71. In case a cheque is lost in transit as per cheque collection policy,
a. Bank will help in obtaining duplicate cheque and offer compensation
72. In case of a cheque issued by B to A, amount in figures is Rs. 10,000 and in words is ten thousand which is striked off and written as five thousand. Alteration is duly signed by B. In that case, bank should 
a. Honour the cheque and pay the amount given in figures
b. Return the cheque as material alteration is not allowed
73. As per BCSBI Code, while opening a Term deposit we will (incorrect one)
a. Get instructions from you for disposal of deposit at maturity 
b. Inform about procedure to withdraw deposit before maturity
c. None of these
74. As per BCSBI code, on receiving a loan application (incorrect one)
a. acknowledges the receipt of application
b. Communicate in writing reasons for rejection of loan application
c. Provide a provisional sanction letter on receipt of loan proposal
75. As per BCSBI code, bank will return all securities/documents/title deeds to mortgaged property within --- days of the repayment of all dues
a. 15 days 
76. In the event of unauthorized transaction in internet banking after customer has received means to access Internet banking, maximum liability will be 
a. Full amount 
b. Nil 
c. Rs, 10,000/- 
77. Request for cancellation/closure of credit card will be processed in 
a. 7 days 
78. As per BCSBI Code, prepayment penalty of fixed rate loans is waived till 
a. 10 lakhs 
b. 5 lakhs
c. 10 lakhs etc 
79. For a unit to be classified as a sick unit, it should remain as ------------for three months or more or if there is erosion in the net worth due to accumulated losses to the extent of --- of net worth 
a. NPA ,50%
b. Doubtful,50%etc 
80. In small accounts, balance at any time should not exceed ---------- and total credits in a year not to exceed ----------
a. Rs. 50,000/- and Rs. 1,00,000
81. Banks can allow small accounts to operate for a period of 
a. up to 1 year 
b. up to 2 years 
82. A customer approaches a bank for opening an account without any of the required KYC documents, bank can open 
a. Small account 
b. Refused to open the account 
83. As per Consumer Protection Bill of 2015, cases not admitted within --- days will be deemed admitted 
a. 21 days 
84. Customer orientation means 
85. As per BCSBI Code, when customer avails a safe deposit locker (incorrect one)
a. Bank will not link fixed deposit to allocation of lockers
b. explains all the rules of allocating a locker
c. Explain the lesser and lessee relation created 
86. In case of illiterate persons, nomination can be given 
a. Thumb impression to be attested by two witnesses
b. No need to authenticate thumb impression
c. Authorized official should authenticate in the presence of customer etc 
87. Number of grids in grid based cheque truncation system 
a. Six
b. Ten 
c. Three 
d. Four 
88. In order to provide customer satisfaction, bank should 
a. Hire new staff in place of retirees 
b. Staff to be trained in handling complaints 
c. Deploy more staff in counters 
etc

https://iibfadda.blogspot.com/

ISB Recollcted

ISB Recollected Questions and Exam Tips::::

Function of modem, which is not an OOP Lang.

 C C++ Java C#, questns abt DRP,

Trojan horse, sniffing, spoofing, availability, integrity, DBMS, preventive, corrective, detective controls, BCP

LOANS AND ADVANCES INCLUDING BALANCE SHEET ANALYSIS

LOANS AND ADVANCES INCLUDING BALANCE SHEET ANALYSIS

1. ˜Credit Rating Agencies in India are regulated by: RBI
2. ˜CRISIL stands for: Credit Rating Information Services of India Ltd.
3. ˜Deferred Payment Guarantee is : Guarantee issued
when payment by applicant of guarantee is to be made in installments over a period of time.
4. ˜If Break Even Point is high, it can be construed that the margin of safety is ____: Low.
5. ˜Long Term uses – 12; total Assets – 30; Long Term source 16; What is net working capital : 4
6. ˜On which one of the following assets, depreciation is applied on Straight line method: Computers.
7. ˜Projected Turnover is Rs.400 lacs, margin by promoter is Rs. 20 lacs. What is maximum bank
finance as per Annual Projected Turnover method: 80 lakhs.
8. ˜Rohit was a loanee of the branch and news has come that he has expired. On enquiry, it was
observed that he left some assets. Upto what extent the legal heirs are liable to the Bank? Legal heirs are
liable for the liabilities upto the assets inherited by them.
9. ˜The appraisal of Deferred Payment Guarantee is same as that of a) Demand Loan b) OD c) Term
Loan d) CC : Term Loan.
10. A cash credit account will be treated as NPA if the CC limit is not renewed within ___days from the
due date of renewal: 180 days.
11. A director of a bank wants to raise loan of Rs 10 lakh from his bank against Life Insurance Policy with
surrender value of more than Rs 15 lakh. What will be done?: Bank can sanction.
12. A firm is allowed a limit of Rs.1.40 lac at 30% margin. It wants to avail the limit fully. How much will
be the value of security : Rs.2 lac
13. A guarantee issued for a series of transactions is called: Continuing guarantee
14. A lady who has taken a demand loan against FD come to the branch and wants to add name of her
minor son, as joint a/c holder. What you will do?: Name can be added only after adjustment of the loan.
15. A letter of credit which is issued on request of the beneficiary in favour of his supplier: Back to Back

LC
16. A loan is given by the bank on hypothecation of stock to Mr. A. Bank receives seizure order from
State Govt. What should bank do?: Bank will first adjust its dues and surplus if any wilt be shared with
the Govt.
17. A loan was sanctioned against a vacant land. Subsequently a house was constructed at the site.
What security is available now to the bank? : Both
18. A minor was given loan. On attaining majority he acknowledges having taken loan and promises to
pay. Whether the loan can be recovered? : He can not ratify the contract. Hence recovery not possible.
19. A negotiating bank and issuing bank are allowed days each for scrutiny of documents drawn
under Letter of credit to ensure that documents are as per LC: 5 banking days each.
20. Age limit staff housing loan: 70 years;
21. An L/C is expiring on 10.05.2008. A commotion takes place in the area and bank could not open.
Under these circumstances can the LC be negotiated?: The L/C can not be negotiated because expiry date
of LC can not be extended if banks are closed for reasons beyond their control.
22. As per internal policy of certain banks, the net worth of a firm does not include: a. Paid up capital b.
Free Reserve c. Share Premium d. Equity received from Foreign Investor : Revaluation Reserves
23. Authorised capital is Rs.10 lac. Paid up capital Rs.6 lac. The loss of previous year is Rs.1 lac. Loss in
current year is Rs3 _ lac. The tangible net worth is : Rs.2 lac
24. Authorised capital= 10 lac, paid-up capital = 60%, loss during current year = 50000, loss last year =
2 lacs, what is the tangible net worth of the company? : 3.5 lac
25. Bailment of goods by a person to another person, to secure a loan is called : Pledge
26. Balance outstanding in a CC limit is Rs.9 lakh. Value of stock is Rs.5 lakhs. It is in doubtfUl for more
than two years as on 31 March 2012. What is the amount of provision to be made on 31-03-2013?: Rs.9
lakhs (100% of liability as account is doubtful for more than 3 years)
27. Balance Sheet of a firm indicates which of the following – Balance Sheet indicates what a firm
owes and what a firm owns as on a particular date.
28. Bank limit for working capital based on turn over method: 20% of the projected sales turnover
accepted by Banks
29. Banks are required to declare their financial results quarterly as per provisions of : SEBI
30. Banks are required to maintain -a margin of ___ for issuing Guarantee favouring stock exchange on
behalf of share Brokers.
31. Banks are required to obtain audited financial papers from non corporate borrowers for granting
working capital limit of: Rs.25 lakh &above
32. Banks provide term loans and deferred payment guarantee to finance capital assets like plant and
machinery. What is the difference between these two: Outlay of funds.
33. Benchmark Current Ratio under turn over method is: 1.25
34. Break Even Point: No profit no loss. ( TR-TC=Zero)
35. Calculate Debt Equity ratio – Debenture – Rs 200, capital 50; reserves – 80; P& L account credit
balance – Rs 20: 4: 3 ( 200 divided by 150).
36. Calculate Net working capital– Total assets 1000; Long Term liabilities 400; Fixed assets, Intangible
assets and Non current assets (i.e. long term uses) Rs 350; What is net working capital : 400- 350= Rs
50
37. Calculate Tangible Net Worth: Land and building: 200 Lacs; Capital:80000 intangible asset:15000:

Micro finance 70 recollected questions

Micro finance 70 recollected questions



Q1.C.rungrajan committee on microfinance

Q2. Breath length and depth meaning.

Q3. Difference between poverty lending approach and financial system approach.

Q4. Microfinance focus on poorest of the poor.

Q5. Nabard and it's role.

Q6. Nationalization of banks and it's purpose.

Q7.IRDP programm substitute the SJGSY program.

Q8.what is facilitater and it's role.

Q9.what is GRT group recognition test and it's purpose.

Q10.one question on Money lenders.

Q11.break even analysis and CPV analysis 3 questions.

Q12.what is microcredit.

Q13.what is microfinance.

Q14. What is sustainability.

Q15 what is BRI bank Ryat Indonesia.

Q16 .what is unit diseas.

Q17.chikola group of Kenya is example of which model.

Q18.Difference between SHG and JLG model

Q19 detailed question on grameen bank model.

 Q20. What is SHG bank linkage model...

Q22. Assumptions of grameen bank model of Bangladesh.

 Q23.diffrence between direct cost indirectcost setupcost and cost of fund.

Q24 .capital=assets-liability.

Q25.for NBFC model minimum networth requires rs.5 crore.

Q26.malegam committee and its recommendation.

Q27.qualifying assets and its significance

Q28.what is most accepted and widely usedmodel of microfinance in india.

 Q29.what is ghostborrower or multiple lending.

Q30.details of BC model.

Q31.what is reckless lending.

Q32. Details of SHG2 model part2.

 Q33. What is refinancing.

Q34. National rural livelihood mission.

 Q35 .Swarn jayanti gramin Swarojgar yojna

Q 36.what is mutual fund.

 Q37. What is merchant banking.

Q38.details of Revolving Fund.

 Q39. Financial inclusion definition and scope.

Q40. What is kyc and it's purpose

Q41 .Illiterate person can open which type of exam.

Q42 .Difference between impact accessment and social performance.

Q43.what is social rating

Q44. What is minimalist and integrated approach.

Q45.what is micro Insurance.

 Q46. Role of SEBI.

 Q47.role of IRDA.

 Q48. What is cash flow statement

.Q49. What is flat rate of interest.

 Q50. What is travel expanses.

 Q51.what is operating expense Ratio.

 Q52. What is asset depricitation.

 Q53 what is accounting stanard 2

. Q54. What is average case load.

Q55. What is Target group.

Q56. What is PAR.

Q57. What is market risk.

Q58. What is bank rate.

Q59.what is reprising risk.

 Q60. What is riskmanagement loop

Q61 what is schedule and nonshedule bank.

Q62. What is human risk.

 Q63.what is operational risk.

Q64.what is merchant banker.

 Q65. What is trading in stock exchange.

 Q66.two questions on mutual fund.

Q67.three question on Break Even Analysis.

Q68. What is regulatory risk.

 Q 69.what is Repayment rate.

 Q70.trust and Trust feed and what NBFC banking Model and what is business Correspondent model (BC Model)...... these All are 70 Recollected Questions of microfinance held on 15 july 2018. best of luck to All

Can MFIs Eradicate Poverty from India?

Can MFIs Eradicate Poverty from India?
Though the question is very simple, its answer is quite complex. Poverty in India is rising at an alarming rate.
Lack of education has lead to unemployment and that in turn has invited extreme poverty. With the introduction
of microfinance by the MFIs, the poor section of the society is now able to get funding for business and other
money-earning activities. Along with economic support, the organisations are also offering them a scope of
education. Thus saying MFIs only help in setting up business will be completely wrong. Apart from setting
business, they also help to educate people by conducting fast-track training session to build a skilled and wellequipped
workforce. Moreover, with new start-up businesses, more employment possibilities will emerge. As
people will get employed and start earning, the poverty ratio will come down slowly. So, it can be said that
MFIs can play a very big role in eradicating not only poverty but making people self-sufficient economically.
The microfinance institutions have paved the ground for the under-banked section of India to change their
financial status and take themselves up to the high societal pedestals. You can take a loan from these
organisations without any security for a certain time-period. Since these institutions don’t set any stringent
eligibility criteria for the borrower’s people can take loans whenever they feel the need without any inhibitions.
The only thing that the institutions lay focus on is that the borrower must be from the low-income group and the
money is taken for income-generation purposes. Hence, if you are facing issues while getting loans for setting
up business due to your bad economic condition, opting for microloans from the MFIs is a feasible and
beneficial option.

Digital banking recollected questions

 Digital banking recollected



Aeps

Nach

Upi

Virtual keyboard to safegaurd against keylogger

4 questions on process of chargeback

Nfc technology and RFID

Approx 8-10 question on security of POS terminals

2 que on MDR

What is cash withdrawal through pos called







Many questions were there from BC

, POS,

off us,

 on us transactions,

  pharming attack,

phishing attack,

 ATM skimming,

 business risk,

 memory scrapping,

 jackpotting,

 Financial inclusion,

Dispute Management System,

CTS,

Digital marketing,

 internet banking 2FA

, AEPS,

Keylogger Virtual keyboard,

Pinterest ,

Graffiti,

OOH,

brown level ATM,

 ekyc ,

FI is backed by       

wat is Graffiti.                                                 

wat is CRM customer Relationship Management. one questions on fraud in ATM card and Internet banking. wat is RTGS and Next generation RTGS

wat is Rupay Paysecure Solution. Benefits of Rupay Card. wat is NACH and it's Role.                         

ABPS and NACH diffrence. .wat is ASA and KSA. .one question on NFS and EKYC. Offus and OnUs transaction Diffrence. RTGS and NgTGS.                                 

NG rtgs works on ISO 20022. wat is CCIL clearing Corporation of India it's Role and Functions. wat is Diffrence between DVP-lll (Delivery vs payment and Payment Vs Delivey) System..



 Diffrence between Compliance and convenience. masquerading and Cyber mugging.   

wat is Jeckpotting. wat is MILTDOWN and Spectrame. One question on Telebanking. MMID and MPlpin wat Digit MMID 4 Digit                                                               

  wat is giftcard prepaid card and store value card diffrences. .credit and charge card diffrences. .questions on magnetic strip card EMV chipbased card. questuons on what Document requires for Representment in prearbitration process...... operating system hardening is a Application server risk. diffrence between Enduser risk and application server risk. wat is mobile device risk. wat is Identity Theft. Difference between Basic Phishing and Spear phishing. . ......



Digital banking Recollected Questions on 1st July 2018 paper.... 1.cyber mugging 2.Miltdown & Spectrate. 3.what is Jeckpotting in ATM. 4.NPCI.... 5.CCIL one question. 6 .one question on CIA confidentiality Availability and Integrity. 7 .one separete question on only Integrity. 8.what is Plastic card. 9.one question on prepaid card. 10.wat is single purpose and multy purpose Cards. 11.diffrence between credit and charge card. 12.wat are benefit for using virtual key board. 13.diffrence between Emv chip card and Magnetic strip cards. 14.diffrence between NFC near feild communication and RFID Radio frequency Identifications...... 15.diffrence between openscheme (4th Party and 3rd party close scheme.....



Digital banking Recollected Questions on 1 July 2018............. 16.one Questions on MDR. 17.diffrence between transaction processing clearing and settlement. 18.one separate question on CTS and Clearing. 19.wat is phishing Pharming and Cyber mugging. 20.one question on Aadhar bridge system for giving Subsidy. 21 which is not a 24*7 system IMPS NPCI UPI or USSD. 22.one question on what is SFMS. 23.diffrence between In Us and Off Is ATM 24.wat is difference between IMPS and IMT. 25.diffrence between CDM ATM and POS





1 July Digital Banking Paper Recollected Questions. 26.diffrence between white and Brown level ATM. 27.diiffrence between Clearing and Settlement process. 28.wat is keystroke Logging and benefits of vitual key board. 29.wat is difference between business Declines and technical Declines. 30.difference between authorization and Settlement process. 31.wat is limit of chargebeck-90 days. 32.one question on prearbiration process and dispute management Collette. 33.one question on smshing and Phishing attack....... 34 diffrence between malware and Torzan. 35.wat is *99*99# and it's benefit. 36 .mobile wallets are prepaid or postpaid. 37.one question on OTP and TWO factor Authonthication process. 38.What is end-user risk. 39.wat is mobile device risk. 40 one question on Spearphishing. 41 .wat is query service on Aadhar Mapper.42.one question on firewell and intrusions detection system. 43.diiffrence between encryption and Decryption. 44.diffrence between GPRS and PSTN POS 45.diffrence between portable and Pooled terminal. 46.one question only on Mobile POS. 47.wat is EKYC and it's benefits. 48.wat is Terminal Management System. 49.wat is Mural-Advertising. 50.wat is OOH out of home.....







Recollected Questions on Digital Banking Paper 1 July. .51.wat is Graffiti. 52.wat is CRM customer Relationship Management. 53.one questions on fraud in ATM card and Internet banking. 54.wat is RTGS and Next generation RTGS 55.wat is Rupay Paysecure Solution. 56.Benefits of Rupay Card. 57.wat is NACH and it's Role. 58.ABPS and NACH diffrence. 59.wat is ASA and KSA. 60.one question on NFS and EKYC. 61. Offus and OnUs transaction Diffrence. 62.RTGS and NgTGS. 63.NG rtgs works on ISO 20022. 64.wat is CCIL clearing Corporation of India it's Role and Functions. 65 .wat is Diffrence between DVP-lll (Delivery vs payment and Payment Vs Delivey) System..



Recollected Questions. 66.diffrence between Compliance and Convenience. 67.masquerading and Cyber mugging. 68.wat is Jeckpotting. 69.wat is MILTDOWN and Spectrame. 70.one question on Telebanking. 71.MMID and MPlpin wat Digit MMID 4 Digit 72.wat is giftcard prepaid card and store value card diffrences. 73.credit and charge card diffrences. 74.questions on magnetic strip card EMV chipbased card. 75.questuons on what Document requires for Representment in prearbitration process...... 76.operating system hardening is a Application server risk. 77.diffrence between Enduser risk and application server risk. 78.wat is mobile device risk. 79.wat is Identity Theft. 80.Difference between Basic Phishing and Spear phishing. . ......



 Q81.what is SSL full form and it's signal turns into which colour green blue Aur Red. Q82.one Drawback of Smishing. Q.83.the process of remain hidden Online is called..... Q.84.what is Back and Access.... Q 86.one question on Cash Advance. Q87.wat is diffrence between VOID and Refund. Q 88.SFMS. Q 89.Encoding deciding Difference.. Q90..wat is Rootkit. Q 91.Social engineering. Q 92.diffrence between IDS and IPS. Q.93.OTP and Two fector Authonthication. Q.94.KeyStroke Loggers

Highlights of Union Budget for 2019-20

Highlights of Union Budget for 2019-20

10 POINTS OF VISION
* Building social infrastructure among 10 points of vision
* Building pollution-free environment among 10 points of vision
* Digital India in every sector among 10 points of vision
* Make in India with stress on MSME in 10 points of vision
* Water management, clean rivers among 10 points of vision
* Export of food grain in 10 points of vision
* Ayushman Bharat, clean India among 10 points of vision
* Space programmes, safety of citizen in 10 points of vision

GROWTH, INFLATION
* Well within capacity to reach $5-trln economy in few years
* India to become $3-trln economy in FY20
* India now 6th largest economy vs 11th five years ago

REFORMS
* Need to continue undertaking structural reforms
* Need to continue structural reforms to reach $5-trln aim
* Need to invest in job creation in MSMEs
* Need to invest heavily in digital India, job creation
* $5-trln economy target is imminently achievable
* "Gone are the days of policy paralysis"
* Wish to propose many initiatives to kick-start growth
* Reforms needed in power tariffs
* To soon announce policy package for power tariffs
* Model tenancy law to soon be finalised
* Propose several reform measures for rental housing
* PPP to fast develop track, rolling stock, freight svcs
* To have blueprint for water grids, gas grids, airways
* Examining performance of UDAY scheme
* One nation, one grid to ensure power connectivity
* 2 more terminals at Sahibganj, Haldia to be functional soon
* Movement of cargo in river Ganga to rise 4 times in 4 yrs

FINANCIAL SECTOR, MARKETS
* FDI inflows remain robust despite global headwinds
* Important to increase retail invest in T-bills
* Propose to create platform for listing social enterprises
* To work with regulators for AA bonds as collateral for repo
* Asked SEBI to mull hiking minimum public shareholding to 35%
* Propose to rationalise existing KYC norms for FPIs
* India needs 20-trln-rupee estimated investment every year
* To put in place action plan to deepen long-term bond mkt
* Action plan to deepen market for long-term bonds
* Invest driven growth requires access to low-cost capital
* To create payment platform for MSMEs
* Large infrastructure can be built on land owned by CPSEs
* To allow FPIs to subscribe to listed debt papers of REITs
* Propose to merge NRI, FPI investment scheme routes
* To mull hiking FDI limit in media, insurance, animation cos
* Contemplating an annual global investors meet in India
* Propose 100% FDI in insurance intermediaries
* To examine suggestions to further open up FDI in aviation
* FDI flows rose 6% to $64.37 bln in FY19
* Propose to make India a more attractive FDI destination
* To take steps for RBI, SEBI depositories' inter-operability
* To allow FPIs to subscribe to listed debt papers of REITs
* Propose to merge NRI, FPI investment scheme routes
* To mull hiking FDI limit in media, insurance, animation cos
* Contemplating an annual global investors meet in India
* Propose 100% FDI in insurance intermediaries
* To examine suggestions to further open up FDI in aviation
* FDI flows rose 6% to $64.37 bln in FY19
* Propose to make India a more attractive FDI destination
* To take steps for RBI, SEBI depositories' inter-operability
* To allow FPI invest in listed debt securities of InvITs

INFRASTRUCTURE, INDUSTRY
* Need to invest heavily in infrastructure
* Rail infra may need investment of 50 trln rupees 2018-2030
* 2nd stage of Bharatmala to help develop state roads
* To incentivise advanced vehicle battery manufacturing
* Need to develop inland waterways for cargo movement
* To comprehensively restructure national highway programme
* To comprehensively restructure national highway programme
* 210 km of new metro lines operationalised in 2019
* Launching national common mobility card
* To leverage engineering skill for project maintenance work
* Public infra, affordable housing to be taken up in FY20
* To aid cluster-based development of traditional industries
* To use more PPP mode for metro rail network
* Railways to be encouraged to use


Taxes:
* No change in personal income tax rates
* Increase in surcharge on super rich: 3% surcharge for Rs 2 crore income; 7% on Rs 5 crore and above

* Annual turnover limit for 25% Corporate tax raised to Rs 400 crore from Rs 250 crore

* Taxpayers with annual turnover of less than Rs 5 crore to have to file only quarterly

* Direct tax revenue has increased by 78%

* Additional Rs 1.5 lakh deduction on home loans

* Interchangeability of PAN and Aadhaar for ITR who don't have PAN cards

* 2% TDS on withdrawals of Rs 1 crore in a year from bank accounts for business payments

* Govt waives MDR changes on cashless payment

Current affair s on 05.07.2019

Today's Headlines from www:

*Economic Times*

📝 Unshackle MSMEs to create 55-60L jobs a year for next decade

📝 Brickwork Ratings cuts outlook on Edelweiss’ NCDs to negative

📝 Kalpataru seeks shareholders' nod to raise borrowing limit to Rs 12,000 cr from Rs 10,000 cr

📝 Indian pharma industry to grow at 11-13 pc in FY2020: Icra

📝 Govt working out package for BSNL to make it more productive: Ravi Shankar Prasad

📝 Hardcastle eyes Rs 2,500cr topline, 400 McDonald's stores by 2022

📝 Govt mulling ban on petrol, CNG two and three-wheelers: Nitin Gadkari

*Business Standard*

📝 Govt orders probe into grounded Jet Airways, SFIO summons Naresh Goyal

📝 Ola expands global footprint, gets London licence to take on Uber

📝 Bank of Baroda begins post-merger innings on a strong wicket; stock rises

📝 Essel group's plan to acquire 62% stake in LKP Finance dealt a blow

📝 YES Bank acquires 9.47% stake in Eveready by invoking pledged shares

📝 IT firms may log muted growth in Q1, see 50-160 bps decline in margins

📝 Ambuja Cement scouts for buys in ready-mix concrete to fuel growth

📝 8% annual growth needed for GDP to touch $5 trn by FY25: Economic Survey

📝 Srei to merge all its lending biz in a bid to become a universal bank

📝 IndiaMART InterMESH ends debut session with 34% gain over issue price

📝 RBI, banks begin holding company model talks; norms to be finalised by Sept

📝 Federal Bank Q4 net jumps two-fold to Rs 381 cr on higher interest income

*Financial Express*

📝 Bulk tea producers to feel tepid price pressure: Icra

📝 Non-food credit falls to 11.p8%, lowest in 14 months

📝 Dubai woos Indian fintech start-ups with $100 million fund

📝 Sikka group raises Rs 130 crore from NBFC to complete Noida housing project

📝 China says existing US tariffs must be removed for a trade deal

📝 IMF board approves $6 billion loan package for Pakistan

📝 REC board to consider proposal to raise Rs 75,000 cr via bonds

*Mint*

📝 Lok Sabha passes bill allowing voluntary use of Aadhaar

📝 Energean to buy EDF arm for up to $850 million

📝 Cash-strapped Dewan Housing seeks ₹1,500 crore in fresh loans every month

📝 US drags India to WTO over duty hike on 28 American goods

📝 Pakistan airspace closure costs over ₹548 crore to Indian airlines

📝 India's first highway corridors for e-vehicles expected by March 2020

📝 Rainfall deficit comes down to 27%, but water storage in reservoirs remains low

📝 FY19 gross tax to GDP ratio dips to 10.9% on shortfall in indirect tax revenue

📝 Banks see whopping 73% spike in frauds at ₹71,543 cr in FY19: RBI official

📝 L&T Finance unit to raise $550 million in IFC-led investment round.

Foreign Trade Policy 2015-20

Foreign Trade Policy 2015-20
The Foreign Trade Policy (FTP), 2015-20, is notified by Central Govt., in exercise of powers conferred
under Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992).
Duration of FTP : 2015-20 FTP, incorporating provisions relating to export and import of goods and
services, came Into force w.e.f. 01.04.2015 and shall remain in force up to 31st March, 2020, unless
otherwise specified. All exports and imports made upto the date of notification shall, accordingly, be
governed by the relevant FTP.
Director General of Foreign Trade (DGFT) can, by means of a Public Notice, notify Hand Book of
Procedures, including Appendices and Aayat Niryat Forms or amendment thereto, if any, laying down
the procedure to be followed by an exporter or importer or by any Licensing/Regional Authority or by
any other authority for purposes
of implementing provisions of FT (D&R) Act, the Rules and the Orders made there under and provisions
of FTP.
IMPORTER EXPORTER CODE (IEC): No export or import can be made by any person without
obtaining an IEC number unless specifically exempted. Further, only one IEC is permitted against one
Permanent Account Number (PAN). If any PAN card holder has more than one IEC, the extra IECs is
disabled.
IEC : An IEC is a 10-digit number allotted to a person that is mandatory for undertaking any
export/import activities. The facility for IEC in electronic form or e-IEC has also been operationalised.
Exports from India Schemes: There are two schemes for exports of Merchandise and Services
respectively: (I) Merchandise Exports from India Scheme (MEIS).
(ii) Service Exports from India Scheme (SEIS).
Niryat Bandhu - Handholding Scheme for new Exporters / Importers: As per provisions of Foreign
Trade Policy 2015-20, DGFT is implementing the Niryat Bandhu Scheme for mentoring new and
potential exporter on the inbicades of foreign trade through counselling, training and outreach
programs.
Towns of Export Excellence (TEE): Selected towns producing goods of Rs. 750 cr or more may be
notified as TEE, based on potential for growth in exports. For TEE in Handloom, Handicraft, Agriculture
and Fisheries sector, threshold limit would be Rs.150
EOU, EHTP, STP, BTP: Units undertaking to export their entire production of goods and services (except
permissible sales in Domestic Tariff Area-DTA), may be set up under Export Oriented Unit (EOU)
Scheme, Eledronics Hardware Technology Park (EHTP) Scheme, Software Technology Park (STP)
Scheme or 1310-Technology Park (BTP) Scheme for manufacture of goods, rendering of services,
development of software, agriculture induding bio-tedinology. Trading units are not covered under
these schemes.
Export Promojion Capital Goods Scheme: (a) Scheme allows import of capital goods for pre-production,
production and post-production, at Zero customs duty. The Authorisation holder may also procure
Capital Goods from indigenous sources: Capital goods shall indude capital goods as defined in foreign
trade policy; (ii) Computer software systems; (iii) Spares, moulds, dies, jigs, fixtures, tools &
refractories and spare refractories; and (iv) catalysts for initial charge-i- one subsequent charge.
(b) Import of capital goods for Project Imports notified by CBEC.
Second hand capital goods are not permitted.
Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit (December 4,
2015): The scheme is effective from April 1, 2015. (a) The rate of interest equalisation would be 3 percent
and will be available on Pre Shipment Rupee Export Credit and Post Shipment Rupee Export Credit; (b)
The scheme would be applicable w.e.f 01.04.2015 for 5 years. (c) The scheme will be available to all
exports under 416 tariff lines [at ITC (HS) code of 4 digit] and exports made by Micro, Small & Medium
Enterprises (MSMEs) across all ITC(HS) codes; (d) Scheme would not be available to merchant exporters;
(e) A study may be initiated on the impact of the scheme on export promotion on completion of 3 years of
the operation of the scheme. The study may be done through one of the IIMs
Export Refinance
1. Who will provide? Export Refinance is provided by RBI.
2. Maximum period of refinance is 180 days.
3. Extent of Refinance: 15% (w.e.f. 27.10.2009) of eligible export finance outstanding on the reporting Friday
of the preceding fortnight. Outstanding Export Credit for the purpose of working out refinance limits will be
aggregate outstanding export credit minus export bills rediscounted with other banks/Exim Bank/Financial
Institutions, export credit against which refinance has been obtained from NABARD/Exim Bank, pre-shipment
credit in foreign currency (PCFC), export bills discounted/rediscounted under the scheme of 'Rediscounting of
Export Bills Abroad', overdue rupee export credit and other export credit not eligible for refinance.

Interest rate is Repo Rate. 5. Packing Credit in Foreign Currency is not eligible for export refinance
EXPORTS FROM INDIA
Export trade is regulated by DGFT under Govt. of India, which announces policies and procedures for
exports from India. AD-I banks conduct export transactions in conformity with the Foreign Trade Policy,
the Rules framed by the Govt. of India and the directions issued by RBI. Manner of receipt of export
proceeds: (i) The amount can be received through AD Banks in the form of (a) Bank draft, pay order,
banker's or personal cheques (b) Foreign currency notes/travellers' cheques from the buyer during his
visit to India. (c) Payment out of funds held in the FCNR/NRE account maintained by the buyer
(d) International Credit Cards of the buyer (e) Wef Jan 01, 2009, Asian Clearing Union participants can
settle their transactions in ACU Dollar or in ACU Euro (equivalent in value to one US Dollar and one
Euro, respectively). Payment can be received from 3rd parties named by exporters in EGF, subject to
compliance of certain conditions (RBI-Nov 08, 2013).
Time limits for realisation and repatriation of export proceeds:
(a) Units in SEZs, Status Holders, 100% Export Oriented Units and Units in EHTPs/STPsIBTPs: max 9
months
(b) Exported to a warehouse established outside India : Max 15 months from the date of shipment of
goods; and
(c) Other cases: Max 9 months.
Offices and Immovable Property for Overseas Offices: For setting up of the office, AD-I banks may
allow remittances towards initial expenses up to 15% of the average annual sales/income or turnover
during the last 2 financial years or up to 25% of the net worth, whichever is higher. For recurring
expenses, remittances up to 10% of the average annual sales/income or turnover during the last 2
financial years may be sent.
Advance Payments against Exports: The exporter shall ensure that -
i. the shipment of goods is made within one year (ADs can allow period above one year also w.e.f. 21.2.12 subject
to the condition that refund during the last 3 years is not more than 10% of advance payments received);
ii. the rate of interest payable on the advance payment does not exceed London Inter-Bank Offered
Rate (LIBOR) + 100 basis points.
(ADs to sent quarterly report to RBI, within 21 days, for delay in utilization of advance payments — 09.02.15)
LONG TERM EXPORT ADVANCE : RBI allowed (May 21, 2014) AD banks to permit exporters, having a
minimum of 3 years' satisfactory track record, to receive long term export advance up to a maximum
tenor of 10 years for execution of long term supply contracts for export of goods. The rate of interest
should not exceed LIBOR plus 200 basis points. Receipt of advance of USD 100 million or more should
be immediately reported RBI. Where AD banks issue bank guarantee (BG) / Stand by Letter of Credit
(SBLC) for export performance, BG / SBLC may be issued for a term not exceeding 2 years at a time
and further rollover of not more than 2 years at a time may be allowed subject to satisfaction with
relative export performance as per the contract.
Part Drawings /Undrawn Balances: Where it is the practice to leave a small part of the invoice
value (maximum of 10% of the full export value) undrawn for payment after adjustment due to
differences in weight, quality, etc. to be ascertained after arrival AD-I banks may negotiate the bills.
Opening / Hiring of Ware houses abroad: Banks may grant permission for opening / hiring
warehouses abroad if export outstanding does not exceed 5% of exports made during the previous
financial year and applicant has a minimum export turnover of USD 100,000/- during the last financial
year.
Supplier's Credit
Under supplier credit contracts the exporter supplier extends a credit to the buyer importer of capital goods. The
terms can be down payment with the balance payable in instalments. The interest on such deferred payments
will have to be paid on the rates determined at the time of entering Into such arrangement. The deferred
payments are supported by the promissory notes or bills of exchange often carrying the guarantee of importer's
bank. To finance the credit given to the Importer under such arrangement, the exporter raises a loan from his
banker under the export credit schemes in force. In general, the export credit insurance will be an inherent part
of the mechanism.
Buyer's credit
In a buyer credit transaction, the buyer importer raises a loan from a bank in the exporter's country under the
export credit scheme in force on the terms conforming to the OECD consensus. The loan Is drawn to pay the
exporter in full and thus for the exporter, the transaction is a cash sale. Another form of the buyer credit
arrangement is, for a bank in the exporter's country, to establish a line of credit in favour of a bank or financial
institutions, in the importing country. The later makes available, loans under the line of credit to its importer
clients for the purchase of capital goods from the credit giving country. In India BUM Bank makes available
supplier/buyer credits and also extends line of credit to foreign financial institutions to promote exports of capital
goods from India.
Export Credit Guarantee Corporation of India Ltd. (ECGC)

International trade finance

INTERNATIONALCOMMERCIALTERMS(INCOTERMS):::

INCO terms are a series of international sales terms, published by International Chamber Of Commerce (ICC) and widely used in
international commercial transactions. These are accepted by governments, legal authorities and practitioners worldwide for the
interpretation of most commonly used terms in international trade. This reduces or removes altogether, uncertainties arising from
different interpretation of such terms in different countries. They closely correspond to the U.N. Convention on contracts for the
international sale of goods. The first version of INCO terms was
introduced in 1936. INCO terms 2010 (8th edition) were published on Sept 27, 2010 and these came into effect wef Jan 1, 2011.
Main changes in INCOTERMS 2010

I. Removal of 4 terms (DAF, DES, DEQ and DDU) and introduction of 2 new terms (DAP - Delivered at Place and DM - Delivered at
Terminal). As a result, there will be a total of 11 terms instead of 13 (2 additions, DAP and DAT and 4 deletions, DAF, DDU, DEQ
and DES).
2. Creation of 2 classes of INCOTERMS - (1) rules for any mode or modes of transport and (2) rules for sea and inland waterway
[INCOTERMS 2000 had 4 categories namely E (covering departure), F (covering main carriage unpaid), C (covering main carriage
paid) and D (covering arrival)]

Class-1 terms

1. EXW means that a seller has the goods ready for collection at his premises (works, factory, warehouse, plant) on the
date agreed upon. The buyer pays transportation costs and bears the risks for bringing the goods to their final destination.
This term places the greatest responsibility on the buyer and minimum obligations on the seller.
2. FCA — Free Carrier (named places) : The seller hands over the goods, cleared for export, into the custody of the first carrier
(named by the buyer) at the named place. This term is suitable for all modes of transport, including carriage by air, rail, road, and
containerized / multi-modal sea transport.
3. CPT—Carriage Paid To (named place of destination): (The general/containerized/ multimodal equivalent of CFR) The seller
pays for carriage to the named point of destination, but risk passes when the goods are handed over to the first carrier.
4. CIP — Carriage and Insurance Paid (To) (named place of destination): The containerized transport/multimodal
equivalent of CIF. Seller pays for carriage and insurance to the named destination point, but risk passes when the goods
are handed over to the first carrier.
5. DAP : delivered at place
6. DAT : delivered at terminal
7. DDP — Delivered Duty Paid (named destination place): This term means that the seller pays for all transportation
costs and bears all risk until the goods have been delivered and pays the duty. Also used interchangeably with the term
"Free Domicile". It is the most comprehensive term for the buyer. In most of the importing countries, taxes such as (but
not limited to) VAT and excises should not be considered prepaid being handled as a "refundable" tax. Therefore VAT and
excise usually are not representing a direct cost for the importer since they will be recovered against the sales on the
local (domestic) market.

Class-2 terms

8. FAS — Free Alongside Ship (named loading port): The seller must place the goods alongside the ship at the named
port. The seller must clear the goods for export. Suitable for maritime transport only but NOT for multimodal sea transport
in containers. This term is typically used for heavy-lift or bulk cargo.
9. FOB — Free on board (named loading port): The seller must themselves load the goods on board the ship nominated by the
buyer, cost and risk being divided at ship's rail. The buyer must instruct the seller the details of the vessel and port where the
goods are to be loaded, and there is no reference to, or provision for, the use of a carrier or forwarder.
10. CFR or CNF — Cost and Freight (named destination port): Seller must pay the costs and freight to bring the goods to
the port of destination. The risk is transferred to the buyer once the goods have crossed the ship's rail. Maritime transport
only and Insurance for the goods is NOT included. Insurance is at the Cost of the Buyer.
11. CIF — Cost, Insurance and Freight (named destination port): Exactly the same as CFR except that the seller must in addition
procure and pay for insurance for the buyer (Maritime transport only).

Digital banking very important

Digital Banking: Very important

National Payments Corporation of India (NPCI) – Its Products & Services National Payments Corporation of India (NPCI), is the umbrella organisation for all retail payment systems in India, which aims to allow all Indian citizens to have unrestricted access to e-payment services. Founded in 2008, NPCI is a not-for-profit organisation registered under section 8 of the Companies Act 2013. The organisation is owned by a consortium of major banks,[3] and has been promoted by the country’s central bank, the Reserve Bank of India. Its recent work of developing Unified Payments Interface aims to move India to a cashless society with only digital transactions. It has successfully completed the development of a domestic card payment network called RuPay, reducing the dependency on international card schemes. The RuPay card is now accepted at all the ATMs, Point-of-Sale terminals and most of the online merchants in the country. More than 300 cooperative banks and the Regional Rural Banks (RRBs) in the country have also issued RuPay ATM cards. More than 250 million cards have been issued by various banks, and it is growing at a rate of about 3 million per month. A variant of the card called ‘Kisan Card’ is now being issued by all the Public Sector Banks in addition to the mainstream debit card which has been issued by 43 banks. RuPay cards are also issued under the Jan Dhan Yojana scheme. NPCI has taken over NFS (National Financial Switch) operations from 14 December 2009 from IDRBT. Membership regulations and rules are being framed for enrolling all banks in the country as members so that when the nationwide payment systems are launched, all would get included on a standardized platform.
The key products of NPCI are: National Financial Switch (NFS) which connects 1, 98, 953 ATMs of 449 banks (91 Member Banks, 358 Sub- Member). Immediate Payment Service (IMPS) provided to 84 member banks, with more than 8.49 crore MMID (Mobile Money Identifier) issued, and crossed 10 million transactions. National Automated Clearing House (NACH) - has close to 400 banks on board. Aadhaar Payments Bridge System (APBS) has more than 358 banks. Cheque Truncation System (CTS)

has fully migrated in 3 grids - southern, western & northern grids from MICR centres. Aadhaar-enabled payment system (AEPS) - has 36 member banks. RuPay – Domestic Card Scheme- has issued over 20 crore cards and enabled 10, 70, 000 PoS terminals in the country. The newest and most advanced addition to the NPCI revolution is the Unified Payments Interface (UPI) which has been launched on 11 April 2016. RuPay PaySecure - Over 20 banks now offer this authentication mechanism to their RuPay cardholders. The new transaction flow of Card + OTP has infused more simplicity to cardholders. More than 70,000 merchants accept Rupay cards online. RuPay PaySecure is live on 10 acquiring banks which includes Union Bank of India, Kotak Mahindra Bank, Citi Bank, ICICI Bank, HDFC Bank, State Bank of India, IDBI Bank, IndusInd Bank, Bank of Baroda and Bank of India.
NPCI service portfolio now and in the near future include:
 National Financial Switch (NFS) - network of shared automated teller machines in India.
 Unified Payment Interface (UPI) - Single mobile application for accessing different bank accounts
 BHIM App - Smartphone app built using UPI interface.
 Immediate Payment Service (IMPS) - Real time payment with mobile number.
 *99# - mobile banking using USSD
 National Automated Clearing House (NACH)-
 Cheque Truncation System -online image-based cheque clearing system
 Aadhaar Payments Bridge System (APBS) -
RuPay - card scheme
 Bharat Bill Payment System (BBPS) - integrated bill payment system
IMPS (Immediate Payment Services)
Immediate Payment Service (IMPS) is an instant real-time inter-bank electronic funds transfer system in India. IMPS offers an inter-bank electronic fund transfer service through mobile phones. Unlike NEFT and RTGS, the service is available 24/7 throughout the year including bank holidays. When one initiates a fund transfer via IMPS, the initiator bank sends a message to IMPS, which debits the money and sends it to the receiving account. All this happens within 5-10 seconds.
IMPS is an innovative real time payment service that is available round the clock. This service is offered by National Payments Corporation of India (NPCI) that empowers customers to transfer money instantly through banks and RBI authorized Prepaid Payment Instrument Issuers (PPI) across India.
Benefits of IMPS Instant Available 24 x7 (functional even on holidays) Safe and secure, easily accessible and cost effective Channel Independent can be initiated from Mobile/ Internet / ATM channels

Debit & Credit Confirmation by SMS to both sender and receiver
National Unified USSD Platform (NUUP):
NUUP (National Unified USSD Platform) is a USSD based mobile banking service from NPCI that brings together all the Banks and Telecom Service Providers. In NUUP, a customer can access banking services by just pressing *99# from his/her mobile phones. This service works across all GSM mobile handsets.
IMPS transactions can be sent and received 24X7, (round the clock), including on holidays. Both sender & receiver get SMS confirmation.
For using IMPS on mobile phones, a customer will have to register for mobile banking with his/her individual bank. However, for initiating IMPS using Bank branch, Internet banking and ATM channels, no prior Mobile banking registration is required. Both banked as well as un-banked customer can avail IMPS. However, unbanked customer can initiate IMPS transaction using the services of Pre-Paid Payments instrument issuer (PPI). MMID - Mobile Money Identifier is a 7 digit number, issued by banks. MMID is one of the input which when clubbed with mobile number facilitates fund transfer. Combination of Mobile no. & MMID is uniquely linked with an Account number and helps in identifying the beneficiary details. Different MMID’s can be linked to same Mobile Number. (Please contact your bank for getting the MMID issued)
Options available for a customer for doing IMPS transaction
• Using Beneficiary Mobile no. and MMID
• Using Beneficiary Account no. and IFS Code
• Using Beneficiary Aadhaar Number
Bharat Interface for Money (BHIM) Bharat Interface for Money (BHIM) is an app that lets you make simple, easy and quick payment transactions using Unified Payments Interface (UPI). You can make instant bank-to-bank payments and Pay and collect money using just Mobile number or Virtual Payment Address (VPA). The following are the features of BHIM: 1. Send Money: User can send money using a Virtual Payment Address (VPA), Account Number & IFSC, Aadhaar Number or QR code. 2. Request Money: User can collect money by entering Virtual Payment Address (VPA). Additionally through BHIM App, one can also transfer money using Mobile No. (Mobile No should be registered with BHIM or *99# and account should be linked) 3. Scan & Pay: User can pay by scanning the QR code through Scan & Pay & generate your QR option is also present. 4. Transactions: User can check transaction history and also pending UPI collect requests (if any) and approve or reject. User can also raise complaint for the declined transactions by clicking on Report issue in transactions.

5. Profile: User can view the static QR code and Payment addresses created or also share the QR code through various messenger applications like WhatsApp, Email etc. available on phone and download the QR code. 6. Bank Account: User can see the bank account linked with his/her BHIM App and set/change the UPI PIN. User can also change the bank account linked with BHIM App by clicking Change account provided in Menu and can also check Balance of his/her linked Bank Account by clicking “REQUEST BALANCE” 7. Language: Up to 8 regional languages (Tamil, Telugu, Bengali, Malayalam, Oriya, Gujarati, Kannada ,Hindi) available on BHIM to improve user experience. 8. Block User: Block/Spam users who are sending you collect requests from illicit sources. 9. Privacy: Allow a user to disable and enable mobilenumber@upi in the profile if a secondary VPA is created (QR for the disabled VPA is also disabled). **BHIM APP is available in play store (for android User) and App Store (for Apple User)** Bharat QR In a major push for seamless cashless transactions, Govt. of India has launched Bharat QR Code, which is world’s first interoperable payment platform. National Payments Corporation of India (NPCI), which is the umbrella organisation for all digital and online retail payment systems in India, has developed this platform, which is expected to inspire and encourage more digital payments, without using debit or credit card. QR Codes are black and white two-dimensional machine readable code, which stores information about the merchant’s bank accounts and URLs. With Bharat QR Code interface, merchants need to take a printout of their QR code (or have a soft copy) and show it to the consumer, who can simply scan the code using his or her smartphone, and the payment would be made. Instantly, seamlessly and without any hassles. We had reported last year that Govt. is considering to create a common QR Code based payment mechanism, which has now been officially launched. The Retail industry is excited by its possibilities because QR code-based payments solves two major problems in a single go: a) less time consumed to make the payment, compared to debit/credit card b) no requirement to actually flash your credit/debit cards for making the payment. Here are some interesting facts about Bharat QR Code payment system, which every debit/credit holder (who is also a bank account holder) should be aware of: Smart Cards
The smartcards have increased data security, an active anti-fraud capabilities, multipurpose capabilities, flexibility in applications, and off-line validation. These functions are more or less inter-related but the most important of all is the high level of security provided by the smartcard compared to the other type of cards in operation. This makes it possible the use the smart cards in transactions dealing with money, property and personal data.

The Reserve Bank of India has set a target for banks to upgrade all ATMs by September 2017 with additional safety measures to process EMV chip and PIN cards in order to prevent skimming and cloning of debit and credit cards.
While the POS terminal infrastructure in the country has been enabled to accept and process EMV chip and PIN cards, the ATM infrastructure continues to process the card transactions based on data from the magnetic stripe. As a result, the ATM card transactions remain vulnerable to skimming, cloning, etc. frauds, even though the cards are EMV chip and PIN based.
It has become necessary to mandate EMV (Europay, MasterCard, Visa) chip and PIN card acceptance and processing at ATMs also. Contact chip processing of EMV chip and PIN cards at ATMs would not only enhance the safety and security of transactions at ATMs but also facilitate preparedness of the banks for the proposed “EMV Liability Shift” for ATM transactions, as and when it comes into effect.
Further, in order to ensure uniformity in card payments ecosystem, banks should also implement the new requirements at their micro-ATMs which are enabled to handle card-based payments.
CVV OR CSC NUMBER The CVV Number ("Card Verification Value") on credit card or debit card is a 3 digit number on VISA, MasterCard and Discover branded credit and debit cards. On American Express branded credit or debit card it is a 4 digit numeric code. The CVV number can be located by looking on credit or debit card, as illustrated in the image below: Providing the CVV number to an online merchant proves that one actually has the physical credit or debit card - and helps to keep one safe while reducing fraud. CVV numbers are NOT the card's secret PIN (Personal Identification Number). One should never enter one’s PIN number when asked to provide the CVV. (PIN numbers allow one to use one’s credit or debit card at an ATM or when making an in-person purchase with debit card or a cash advance with any credit card.) CVV numbers are also known as CSC numbers ("Card Security Code"), as well as CVV2 numbers, which are the same as CVV numbers, except that they have been generated by a 2nd generation process that makes them harder to "guess". In 2016, a new e-commerce technology called Motioncode was introduced, designed to automatically refresh the CVV code to a new one every hour or so.

Current affair s on 04.07.2019

Today's Headlines from www:

*Economic Times*

📝 Deutsche Bank to axe investment bankers in up to $5.6 billion revamp

📝 IIFL buys controlling stake in KadaiEshwar Housing Finance for Rs 100 crore

📝 Reliance Jio partners Facebook for countrywide literacy drive

📝 Televisions worth Rs 7,224 crore imported in 2018-19

📝 Corporatisation of railways' production units will offer jobs, bring investments: Piyush Goyal

📝 Bankers want jewellery industry to become more transparent

📝 IC maker Microchip technology sets up new R&D centre in Chennai

📝 Altran to boost Capgemini's ER&D outsourcing to India

*Business Standard*

📝 Dish TV promoters may cash out for Rs 5,000 cr, Bharti Airtel to pick stake

📝 Investment data to be cleaned up after overstated jobs claims

📝 Lenders to crisis-hit DHFL lay down conditions for promoters

📝 Markab Capital to acquire controlling stake in Uniply Industries

📝 Indiabulls HFC to buy back NCDs, masala bonds worth Rs 2,705 crore

📝 CLP inks deal to buy 3 power assets from Kalpataru for Rs 3,275 cr

📝 Lightspeed Ventures looks to cash in on cloud-based businesses

📝 Raheja to buy Citibank property in Mumbai's BKC for Rs 400 crore

📝 Flipkart plans to tap 50,000 MSMEs for expanding in small towns

📝 Tesla shares jump 7% after record deliveries of E-cars in second quarter

📝 Services sector shrinks for first time in 13 months, PMI falls to 49.6

📝 World's largest fighter jet deal underway as India starts process

📝 India's market turnover among lowest globally, shows World Bank data

*Financial Express*

📝 Sebi seeks seat on RBI board, more powers

📝 Birla Group patriarch BK Birla passes away

📝 Kuwait investment firm MarkabCapital picks up controlling stakes in Uniply Industries

📝 CARE downgrades Reliance Home Finance Rs 400-crore NCDs

📝 Maharashtra State Cooperative Bank to directly lend to PACs to help stressed DCCBs

📝 NCLT clears Airtel fibre business demerger

📝 LG forays into ceiling fan segment in India

📝 Service providers may now opt for GST composition scheme till July 31

*Mint*

📝 Indian entities supplying US technologies to Huawei may face penal action: Govt

📝 India's trade deficit widened with 25 major countries in 3 years

📝 New industrial policy set to be unveiled in budget

📝 HP, Dell to shift up to 30% of laptop production from China: Report

📝 Vedanta to invest $245 million in 10 oil, gas blocks

📝 Cabinet nods leasing of Ahmedabad, Lucknow, Mangaluru airports to Adani

📝 Govt ropes in IBM for pilot study on using AI, weather tech in agriculture

📝 Ola raises $11 mn from Jabbar Group founders, DIG Investments, Deshe Holdings

📝 Amid subdued monsoon, cabinet offers higher MSP relief for farmers.

Credit Guarantee Fund Trust For Micro And Small Enterprises (CGTMSE) or Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH)

In case the advance covered by CGTMSE or CRGFTLIH guarantee becomes nonperforming, no provision need be made towards the guaranteed portion. The amount outstanding in excess of the guaranteed portion should be provided for as per the extant guidelines on provisioning for non-performing assets. An illustrative example is given below:

Example

Outstanding Balance	Rs. 10 lakhs
CGTMSE/CRGFTLIH Cover	75% of the amount outstanding or 75% of the unsecured amount or Rs.37.50 lakh, whichever is the least
Period for which the advance has remained doubtful	More than 2 years remained doubtful (say as on March 31, 2014)
Value of security held	Rs. 1.50 lakhs

Provision required to be made

Balance outstanding	Rs.10.00 lakh
Less: Value of security	Rs. 1.50 lakh
Unsecured amount	Rs. 8.50 lakh
Less: CGTMSE/CRGFTLIH cover (75%)	Rs. 6.38 lakh
Net unsecured and uncovered portion:	Rs. 2.12 lakh
Provision for Secured portion @ 40% of Rs.1.50 lakh	Rs.0.60 lakh
Provision for Unsecured & uncovered portion @ 100% of Rs.2.12 lakh	Rs.2.12 lakh
Total provision required	Rs.2.72 lakh