JAIIB General Banking very important points
1.Mutual Funds are controlled by: SEBI.
2.Duplicate DD should be issued within: 14 days from date of request.
3.Public Debt Office (PDO) is an ______: Autonomous body and Investment Banker to Central Govt.
4.What is the rate of TDS in case of Savings Bank deposit account as per Income Tax Act Section 80TTA : TDS is not applicable in
savings bank interest.
5.What is the rate of TDS in case the customer does not submit PAN card and 15G/ 15H : @ 20%.
6. Complaints under Consumer forum should be dealt with within (Where no testing of commodities is required) : 90 days
7.Locker Operation to be categorised under High and Low risk. In case of non-operation of such accounts for ____ and ______: 1
year and 3 years respectively.
8.Maximum deposit for allotting a locker: 3 year advance rent plus locker breaking charges.
9.What is the latest RBI directives for issuing DD for amount of Rs. 20,000 and above: It should Account Payee only.
10. RBI can issue bank note with highest denomination : Upto Rs. 10,000
11. Govt. of India can issue currency note in denomination of : Rs. 1
12. In FDR if the principal and interest is Rs. 20,000 or above it is not to be paid in cash as per: Section 269T of Income Tax Act.
13. SB /CD to be treated as inoperative if there are no transaction for over a period of: 2 years
14. If counterfeit notes up to _______ are detected in a single cash transaction in the bank branch, the bank should send a
consolidated report to the Police at the end of the month?: Less than 5.
15. Letter of Administration is issued by court when: A person dies without leaving a Will ( Intestate).
16. When is letter of administration issued:When a person dies intestate.
17. Differential rate of interest can be paid on fixed deposit if deposit is for: Rs.1.00 crore and above.
18. What is Hybrid debt instrument? a) Debenture b) Bond c) Preference shares d) Convertible Bonds*
19. Implied authority of a partner does not allow ______ singly? Settle a dispute relating to the business of the firm thru
20. If ____ number of counterfeit notes are detected in single transaction, a consolidated report sent to police station: Less than
21. Under Ombudsman, on receiving the award both the bank and the complainant can appeal to the appellate authority in how
many days: 30 days.
22. TDS deducted for interest amount: If interest amount is above Rs 10,000/-.
23. Minimum subscription in PPF cannot be less than: Rs.500/-.
24. The single portal initiated by Ministry of Corporate Affairs for one stop solution for all Companies: MCA21.
25. The RBI is using _____ index of inflation for policy making: Consumer Price Index.
26. BCSBI is affiliated or regulated by? An independent body.
27. Certificate of Incorporation is: Not required in case of Pvt Ltd Co’s.
28. What is full form of IFRS: International Financial Reporting Standards.
29. General Insurance works on principle of: Spread of Risk.
30. Contract of Insurance is a contract of: Indemnity.
31. FIR to be filed if number of Counterfeit notes in a single deposit is: 5 or above.
32. Under RBI KYC directives, CFT stands for: Combating Financing of Terrorism
33. Full KYC is required at least once in __ yr in case of high risk customer: 2 years
34. Govt. of India issue which note : Re. 1
35. Letter of administration is issued by court when: there is no Will and there is estate to manage.
36. Time limit for preservation of record under KYC: 5 years from close of account in respect of records relating to opening of
account and 5 years from date of transaction in respect of transactions reported to FIU.
37. If Locker rent is Rs.7400/- per year, locker breaking charge:Rs.2000/-, how much Maximum deposit can be taken from the
lessee while allotting a locker?: Rs.24200/-
38. ALCO does not decide: Budgets and Targets
39. The focus of Asset Liability Management is: To protect Net InterestMargin.
40. A customer deposited huge amount in cash several times. When Branch manager enquired about the same, the customer did
not give the details. What should be done?: Report to FIU as part of Suspicious Transaction Repot.
41. When the letter of Administration is issued by court?: When the customer expired without writing will.
42. R Gandhi commitee related to: Urban Co-operative Banks (UCBs); to strengthen co operative banking structure.
43. Headquarter of world economic forum: Cologny, Switzerland
44. What payment bank cannot do: Lending
45. SLR w.e.f. 2016-17: 20.50%
46. Under Sovereign Gold Bond scheme maximum units acquired up to: 500 unit (i.e. 500 gm gold).
47. SCORES is related to – a)SEBI; b)IRDAI; C)PFRDA: SEBI. SCORES is Sebi’s online platform that provides a centralised database of
48. In case of Fixed Deposits premature payment option is must for the deposit up to : Rs.15 lac
49. Scoring is related to which of the following – a.RBI. b.NSE c.PFRDA d. None of these:
50. Maximum foreign investment in Public sector bank: 20%
51. For Payment bank, Reliance Industries tie up with: SBI
52. Gold Monetisation Scheme: MTGD interest rate: 2.25%
53. Committee on Bankruptcy Law: T.K.Vishwanathan
54. Money market mutual fund regulated by? Earlier by RBI and now by SEBI
55. What is the target for CPI based inflation in Jan 2016?: 6%
56. Bhartiya Mahila Bank is a) Nationalized bank, b) Gramin bank, c) Public sector bank, d) Private bank: Public Sector Bank
57. Indian Currency Rupee is in circulation in two more countries. One is Nepal, the other is _______: Bhutan.
58. Why International Financial Reporting System (IFRS) should be implemented: For comparison of financials of companies
operating in two different international jurisdictions.
59. The value of a gift that can be given by banks to its customers cannot exceed rupees: Rs. 250
60. Which is not the function of ALCO: Achieving Budget target.
61. Maximum age under PMSBY: 70 Years.
62. Monthly consolidated report to Police in case of how many counterfeit notes: Detected upto 5 and above pieces in a
63. What is incorrect about RTI: Reason to be mentioned in RTI application.
64. Which of the following is not a case of bailment?: When cash is deposited with bank.
65. Full form of P-notes in financial jargon? Participatory Notes
66. International Financial Reporting System (IFRS) should be implemented: For comparison of financials of companies operating in
two different international jurisdictions.
67. After issuing a Garnishee Order by court, Bank is referred is _______: Garnishee.
68. What is Regressive Taxation: As the tax base increases or income increases, the taxation rate decreases.
69. The coins of which denomination have been released as part of the 125th birth anniversary year celebrations of Dr. B.R.
Ambedkar? (10 rupee and 125 rupee)
70. According to report of the Global Financial Integrity’s (GFI’s), India has been placed at which position in black money outflows
among the developing and emerging economies? (Fourth)
71. Who is the CEO of NITI Aayog? (Amitabh Kant)
72. Name the Central bank of U.S. (Federal Reserve System)
73. Who has been appointed as an Executive Director on the board of International Monetary Fund (IMF). (Former RBI Deputy
Governor Subir Gokaran)
74. Which bank has recently been pulled up by the CBI for disbursing Rs. 950 crore to KFA despite it having an unfavourable rating?
75. Name the New Finance Secretary: Ratan Watal.
76. NABARD undertakes supervision on which type of Bank: RRBs.
77. Hindi day is celebrated on: 14th Sept.
78. Annual Inspection of large loans is carried out by RBI inspectors. What is this audit is called? Statutory Audit.
79. What is minimum amount of DD which should be issued by bank with account payee crossing: Rs. 20,000.
80. Aggregate Capital Market exposure of a bank should not be more than: 40% of net worth of bank
81. Minimum capital required for Small Finance Bank and Payment Banks is Rs. _______: Rs.100 cr.
82. Service Tax increased to 14.50% with effect from : 15.11.2015 and 0.5% wef 01.06.2016 (KISAAN CESS)
83. What should be the Promoter contribution in Small Bank: 40%
84. What is the interest rate in case of Sovereign Gold Bond scheme: 2.50%.