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NEW BANKING UPDATES OD JAIIB/CAIIB

Expand UTR The moment the RTGS message reaches the PI Server,the system generates aUTR(Unique Transaction Reference No.)akin to the IBR Tr. Sl. No. UTR is a 16 digitAlpha-Numeric code, the first 4 digits contains the Bank Code in alphabets, 5th one meantfor the message code, 6th & 7th mentions the year, 8-10th mentions Julian Date (No. ofdays in the calendar year are reckoned as the basis to arrive at the date of remittance) andthe last 6 digits mentions day’s serial no. of the message. Repo rate in India When banks have any shortage of funds, they can borrow it fromReserve Bank of Indiaor from other banks. The rate at which the RBI lends money to commercial banks is calledrepo rate, a short term forrepurchase agreement. A reduction in the repo rate will help banks to get money at a cheaper rate. When the repo rate increases borrowing from RBI becomes more expensive.[1]. the repo rate in India is currently 8 % as of July 2011
SEBI
The Securities and Exchange Board of India (SEBI), the…

MODEL QUESTIONS --- JAIIB principles of banking important questions

1) An account holder draws a cheque on a : a)Banker of the Payee b)Banker of the Drawee c)Banker of the Drawer d)Banker of the Endorsee(c) 2)Obligation of a Banker to maintain secrecy is applicable to a) Existing deposit accounts b) Existing safe deposit accounts c) Closed deposit accounts d) a,b and c(existing/closed)(d)
3)A holder for value is : a) A bank allows one of its clients to withdraw against clearing of a cheque. b) A bank which maintainshigh net worth customers accounts b) A bank which collects cheques for non customers c) A bank which handles high value clearing cheques(a) 4)State which ofthe following is/are incorrect: i) A Certificate of Deposit (CD) is issued by a banker ii) In a garnishee order the banker on whom the order is issued is judgement debtor’s debtor iii) A book debt advance is secured by a mortgage iv) CAMEL model is used by RBI inspectors a) i and ii

MODEL QUESTIONS --- JAIIB+PRINCIPLES OF BANKING – MODULE A & B

MODEL QUESTIONS---JAIIB
1)Reserve Bank of India’s functions are classified into: a)Supervisory & Regulatory b)Promotional & Developmental c)Refinance Activities d)All of the above(d)
2)Minimum Bank Rate is: a) 3% b) 4% c) 5% d) None(d)
3)Sec ---- ofRBI Act,1934 gives sole power to RBI to issue currency notes a) 10 b) 18 c) 22 d) 26( c )
4)KYC means a)Know Your Customer very well b)Know Yourexisting Customer very well c)Know Yourprospective Customer very well