1. Habiba Sarobi recently conferred with....
1) Bharat Ratna
2) Noble Award for Peace
3) Ramon Magsaysay Award
4) Templeton Prize
5) None
2. First full pledged legislation to allow the formation of Co-operative Societies is .......
1) Co-operative Credit Societies Act, 1904
2) Co-operative Credit Societies Act, 1912
3) Co-operative Credit Societies Act, 1911
4) Co-operative Credit Societies Act, 1971
5) None
3. The first Act to pass to pave the establishment of Co-operative banks -
1) Co-operative Credit Societies Act, 1922
2) Co-operative Credit Societies Act, 1924
3) Co-operative Credit Societies Act, 1972
4) Co-operative Credit Societies Act, 1951
5) Co-operative Credit Societies Act, 1912
4. Which committee was appointed in 1944 to give recommendations to improve co-operative movement?
1) Hilton-young
2) Radhakrishnan
3) MacLagan
4) Rodgers
5) None
5. Which sector is the major beneficiary of Cooperative banking system till 1969?
1) Education
2) Service
3) Agriculture
4) Export
5) Industrial
6. Indian Co-operative Bank system is ........
1) Unicameral
2) Semi Federal
3) Less Federal
4) Federal
5) Autocrat
7.
On 13 April 2013, RBI decided to cancel the licenses of 26 loss-making
co-operative banks as they got losses. Majority of them are in .....
1) AP
2) MP
3) Karnataka
4) Rajasthan
5) UP
8. ......... is the apex of the three-tier co-operative structure in India.
1) District Central Co-operative banks
2) Union Co-operative banks
3) District Co-operative banks
4) State Co-operative banks
5) None
9. Which bank finance, coordinate and control the working of District Central Co-operative Banks in the states?
1) National Co-operative Bank
2) Primary Co-operative Bank
3) State Co-operative Bank
4) Lower Development Bank
5) None
10. State Co-operative Banks (SCB) usually lend .......
1) District Central Co-operative Banks
2) Primary Co-operative banks
3) to individuals in exceptional cases
4) All of above
5) None
11. Capital of State Co-operative Banks (SCB) mobilized from ........
1) Members of District Central Co-operative Banks
2) Members of Primary Cooperative banks
3) 1 & 2
4) Only (1)
5) None
12. The external lending agencies to State Cooperative Banks (SCB) are ......
1) NABARD
2) Development Banks
3) State Government
4) Financial institutes
5) All of above
13. ........ is the intermediate rung in the threetier Co-operative Credit structure.
1) Primary Co-operative Banks
2) State Co-operative Banks
3) National Co-operative Banks
4) District Central Co-operative Banks
5) None
14. The funds of District Central Co-operative Banks arisen from ..........
1) NABARD lending
2) State government
3) Affiliated Co-operative societies
4) Funds from State Co-operative Banks
5) All of above
15. Gross level of arms of the short term cooperative credit structure is ........
1) District Central Co-operative banks
2) Primary Agricultural Credit Society
3) State Co-operative Banks
4) National Co-operative Banks
5) None
16. The functions of Primary Agricultural Credit Society is .......
1) lending
2) mortgage
3) pledge
4) accepting deposits
5) All of above
17. Primary Urban Co-operative banks established with the aim of giving delivering banking services in .... areas.
1) Urban
2) Rural
3) Metro
4) Villages
5) None
18.
By which date, the Urban Co-operative banks must implement CBS facility
in all its branches as per the order of RBI on 13 March 2013?
1) 31 October 2013
2) 31 December 2013
3) 31 January 2014
4) 31 August 2013
5) None
19. The recent actions/ orders of RBI to control Co-operative banks given. Pick the correct one.
1)
Customers of Pune-based Rupee Cooperative Bank restricted by limiting
the amount of money that depositors can withdraw up to Rs.1000 only. It
is pune based bank.
2) On 5 March 2013, RBI asked Urban
Cooperative Banks (UCBs) to take necessary steps to ensure smooth
transition to new international accounting norms IFRS from April 2014.
3)
Amanath Co-operative Bank can conduct a financial transaction of not
more than Rs.1,000 per account a day as per the directions of RBI on 7
April 2013. It is Karnataka based bank.
4) On 8 January 2013, RBI notified that all co-operative banks should not issued cobranded ATM cards without approval of RBI.
5) All of above
20. Primary Urban Co-operative Banks norms reviewed on the recommendations of ....... committee.
1) K.Madhava Rao
2) N.Laxaman Sinha
3) Vedanarayana
4) Sacchindananda
5) None
21. Probe against the chairman and directors of Gurusiddheshwar Urban Co-operative Bank started on 19th July 2013. It is in ...
1) Hublli
2) Hyderabad
3) Pune
4) New Delhi
5) Lucknow
22. Which is India's largest co-operative bank in India looking to acquire the Pune-based Rupee Co-operative Bank?
1) Mahesh Co-operative bank
2) Mandavi Co-operative bank
3) Saraswat Co-operative bank
4) Lucknow Co-operative bank
5) None
23.
In an effort to defend rupee, the Union government proposed to hike in
the foreign investment limit in government debt by .....
1) $ 6 billion
2) $ 8 billion
3) $ 9 billion
4) $ 5 billion
5) $10 billion
24.
Who heads the inter-ministerial panel has suggested higher taxes for
non-essential imports to curb the Current Account Deficit (CAD)?
1) Anil Goswamy
2) C.Ranga Rajan
3) Rajat Bhargava
4) Anand Sharma
5) None
25.
On 20 July 2013, the Parliamentary Committee on Finance submitted
finalized its Goods and Services Tax Report. It is headed by ......
1) Murali Manohar Joshi
2) Venkaiah Naidu
3) Raghuram Govinda Rajan
4) Aravind Mayaram
5) Yashwant Sinha
26.
To settle inter-state water disputes, prevent flood and pollution, on
24 June 2013, the Union government released a Draft River Basin
Management bill which aims to set up how many river basin authorities?
1) 10
2) 24
3 ) 5
4) 18
5) 12
27. For the transformation of barren land in to cultivating land which state launched Bhumi sena scheme on 8 August 2013?
1) UP
2) AP
3) MP
4) Goa
5) Jammu and Kashmir
28. Douglas Engelbart died recently. He invented ........
1) QWERTY keyboard
2) Universal Serial Bus (USB)
3) Compact Disc
4) Computer Mouse
5) None
29.
As per the 2013 Global Peace Index published by the Institute for
Economics and Peace, the top most peaceful countries of the world are
...... ?
1) Iceland, Denmark and New Zealand
2) USA, UK and Australia
3) Japan, Switzerland and Finland
4) India, China and Mexico
5) None
30.
Indian Junior Women Hockey team won its first ever Bronze medal on 4
August 2013 in Hockey Junior World Cup held in .........
1) India
2) France
3) Japan
4) Germany
5) Australia
31. BCCI stands for ........
1) Board of Cricket Control of India
2) Board of Control for Cricket in India
3) Board of Central Cricket in India
4) Board of Cricket Commission in India
5) None
32. Parupalli Kashyap is a........
1) Badminton player
2) Chess player
3) Member of Rajyasabha
4) Mountaineer
5) None
33. From 5 September 2013, the G-20 heads of government summit to be held in ........
1) Russia
2) USA
3) UK
4) India
5) Australia
34. 'An Uncertain Glory: India and its Contradictions' co-authored by Jean Dreze and ........
1) Amartya Sen
2) Subba Rao
3) Manmohan Singh
4) Abdul Kalam
5) None
35. Kalinga prize will be given for the ......
1) Popularization of Science
2) Cricket
3) Popularization of internet
4) Architecture models
5) None
36. Informal method of borrowing is familiar from .......
1) Regional Rural Banks
2) Public Sector Banks
3) Private Sector Banks
4) Money lenders
5) NABARD
37. State Bank of Pakistan is the central bank of Pakistan. Its headquarters is in .......
1) Islamabad
2) Hyderabad
3) Sind
4) Karachi
5) Abbotabad
ANSWERS:
1-3, 2-1, 3-5, 4-3, 5-3, 6-4, 7-5, 8-4, 9-3, 10-4
11-312-5, 13-4, 14-5, 15-2, 16-5, 17-1, 18-2, 19-5, 20-1
21-1, 22-3, 23-4, 24-3, 25-5, 26-5, 27-1, 28-4, 29-1, 30-4
31-2, 32-1, 33-1, 34-1, 35-1, 36-4, 37-4
Tuesday, 27 August 2013
Safefuards in New Banking Licence Norms
Reserve Bank of India (RBI) issued guidelines for setting up new banks in the private sector vide Press Release dated 22.02.2013. The last date for receipt of applications was 01.07.2013. In all, RBI has received 26 (twenty six) applications.
At the first stage, the applications will be screened by RBI to ensure prima facie eligibility of the applicants, including the assessment of ‘fit and proper’ status of applicants. Thereafter, the applications will be referred to a High Level Advisory Committee to be set up by RBI. In view of the processes involved, it is expected to issue ‘in-principle’ approvals for new banks by the first quarter of 2014.
The safeguards and prudential regulations which have been put in place in the guidelines for the new bank, the parent Non-Operative Financial Holding Company (NOFHC) and the consolidated bank to serve as adequate safeguards to deal with conflict of interest situations, inter-alia, include ‘fit and proper’ criteria; corporate structure of the Non-Operative Financial Holding Company (NOFHC); no exposure to the promoter group by bank, NOFHC and other financial sector entity under the NOFHC and; corporate governance of NOFHC and stipulation of majority of independent directors on the Board of the Bank.
At the first stage, the applications will be screened by RBI to ensure prima facie eligibility of the applicants, including the assessment of ‘fit and proper’ status of applicants. Thereafter, the applications will be referred to a High Level Advisory Committee to be set up by RBI. In view of the processes involved, it is expected to issue ‘in-principle’ approvals for new banks by the first quarter of 2014.
The safeguards and prudential regulations which have been put in place in the guidelines for the new bank, the parent Non-Operative Financial Holding Company (NOFHC) and the consolidated bank to serve as adequate safeguards to deal with conflict of interest situations, inter-alia, include ‘fit and proper’ criteria; corporate structure of the Non-Operative Financial Holding Company (NOFHC); no exposure to the promoter group by bank, NOFHC and other financial sector entity under the NOFHC and; corporate governance of NOFHC and stipulation of majority of independent directors on the Board of the Bank.
Investment of Banks in Money Laundering
The contravention of any of the directions and instructions issued by Reserve Bank of India (RBI) under the Banking Regulation Act, 1949 is an offence punishable under sub-section (4) of Section 46 of the Banking Regulation Act. In terms of sub-section (1) of Section 47A of the Banking Regulation Act, 1949, if a contravention or default of the nature referred to in sub-section (4) of Section 46 is made by a bank, the Reserve Bank may, inter-alia, impose on such bank, a penalty not exceeding one crore rupees for each of such contravention and a further penalty which may extend to one lakh rupees for every day during which the contravention or default continues.
The monetary penalties have been imposed on banks in exercise of powers vested in the RBI under the provisions of Section 47(A)(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
The fines and monetary penalties under section 46 and 47A of the Banking Regulation Act, 1949 respectively were substantially increased through the Banking Laws (Amendment Act, 2012 which was brought into force in January, 2013. The objective of the amendments was to establish an effective and dissuasive penalty regime for violations of the provisions of the Banking Regulation Act, 1949.
In view of the recent amendment to strengthen the regulatory and supervisory powers of RBI by rationalising the fine and penalty regime for violations under the Banking Regulation Act, 1949, there is no proposal to further rationalise the fine and penalty regime under the Banking Regulation Act, 1949.
The monetary penalties have been imposed on banks in exercise of powers vested in the RBI under the provisions of Section 47(A)(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
The fines and monetary penalties under section 46 and 47A of the Banking Regulation Act, 1949 respectively were substantially increased through the Banking Laws (Amendment Act, 2012 which was brought into force in January, 2013. The objective of the amendments was to establish an effective and dissuasive penalty regime for violations of the provisions of the Banking Regulation Act, 1949.
In view of the recent amendment to strengthen the regulatory and supervisory powers of RBI by rationalising the fine and penalty regime for violations under the Banking Regulation Act, 1949, there is no proposal to further rationalise the fine and penalty regime under the Banking Regulation Act, 1949.
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