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CONTENTS CURRENT AFFAIRS Q & A .................................................................................................................................................. 2 ANSWERS FOR CURRENT AFFAIRS Q & A ........................................................................................................................ 15 QUESTIONS ASKED IN RECENT IBPS EXAMS ................................................................................................................... 16 THE NOBEL PRIZE ............................................................................................................................................................ 23 RBI’s Second Quarter Monetary Policy review ............................................................................................................... 24 BANKING Q & A ............................................................................................................................................................... 26 ANSWERS WITH EXPLANATIONS..................................................................................................................................... 30 BASIC SAVINGS BANK DEPOSIT ACCOUNT ...................................................................................................................... 33


Section Reasoning English Language Numerical Ability General Awareness (with special reference to Banking Industry) Computer Knowledge TOTAL

" " भ

Max. Marks 40 40 40 40 40 200

Total Time





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CURRENT AFFAIRS Q & A 1) Every year International Day of Older Persons is observed on (1) 1 October (2) 2 October (3) 3 October

(4) 4 October

2) Former Foreign Secretary Ranjan Mathai has been appointed as India’s High Commissioner to (1) United States (2) China (3) France (4) UK 3) Which of the following countries has decided to withdraw from commonwealth with immediate effect? (1) Chad (2) Gabon (3) Gambia (4) Pakistan 4) Union Government has decided to constitute a committee to define FDI and FII under (1) C Rangarajan (2) Raghuram Rajan (3) Arvind Mayaram Ahluwalia

(4) Montek Singh

5) The Indian Railways and Rashtriya Ispat Nigam Limited (RINL) has signed a pact to set up the country’s biggest forged wheel plant at (1) Amethi (2) Raibareli (3) Gorakhpur (4) Patna 6) Cabinet Committee on Economic Affairs (CCEA) has approved which of the following mission for reforming the state higher education system? (1) Uchchatar Shiksha Abhiyan (2) Rajya Sarva Siksha Abhiyan (3) Rajya Uchchatar Shiksha Abhiyan (4) Rashtriya Uchchatar Shiksha Abhiyan 7) According to World Bank report “Migration and Remittance Flows” released on 2 October 2013, which of the following countries emerged as the largest recipient of foreign remittances? (1) China (2) Philippines (3) Mexico (4) India 8) What is the name of the indigenously produced Japanese Encephalitis (JE) vaccine? (1) JEVacc (2) JENVAC (3) JaEn

(4) JaEnVacc

9) A ship named Samudra Ratnakar is for the purpose of (1) exploring the drowned ships and valuable items laden with them (2) high-sea drilling for petroleum products and shale gas (3) undertaking deep-sea surveys as well as exploration of the minerals lying in the depths of oceans (4) coastal surveillance and coastal survey 10) Tropical storm Karen recently hit at (1) US Gulf coast (2) Japan’s eastern coast Argentina

(3) South East Asia

(4) Southern

11) The National Voluntary Blood Donation Day is celebrated every year in India since 1975 on (1) October 1 (2) October 2 (3) October 5 (4) October 6 12) A comprehensive food security scheme based on the National Food Security Act, 2013, has been launched in (1) Haryana (2) Gujarat (3) Rajasthan (4) Uttar Pradesh 13) Who among the following has been elected as the President of Indian Newspaper Society for 2013-14? (1) Ravindra Kumar (2) K.N. Tilak Kumar (3) N Ram (4) Chandan Mitra

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14) The Arogya Kiranam scheme, the first-of-its-kind in the country and a fine model for all States to emulate, has been launched in (1) Delhi (2) Punjab (3) Kerala (4) Karnataka 15) Who among the following has been named as the PGA Tour's Player of the Year for a record 11th time? (1) Henrik Stenson (2) Tiger Woods (3) Matt Kuchar (4) Phil Mickelson 16) Which of the following states has the highest slum population? (1) Uttar Pradesh (2) Maharashtra (3) Bihar

(4) Tamil nadu

17) Sonia Gandhi has launched a "zero landless" scheme, to ensure that one lakh families in Kerala get to own land by 2015 at which of the following places? (1) Kochi (2) Thiruvananthpuram (3) Kasargod (4) Kollam 18) Soon, India’s longest railway platform will be in (1) Patna (2) Durgapur

(3) Bokaro

(4) Gorakhpur

19) According to a study complied by HSBC, which of the following G 20 nation shown faster rise in temperature than any other one? (1) Brazil (2) China (3) India (4) Australia 20) Aga Khan, a philanthropist and Muslim Spiritual Leader visited India from 17 to 29 September 2013. He was born in (1) Pakistan (2) Iran (3) Saudi Arabia (4) Switzerland 21) James Rothman and Randy Schekman of US and a German, Thomas Suedhof won the 2013 Nobel Prize for Medicine and Physiology. They have been awarded for (1) deciphering the work action of stem cells (2) ground-breaking work on how the cell organises its transport system (3) differentiation of cancer cells (4) protein signalling by HIV 22) Indian Air Force day is observed on (1) October 8 (2) October 9

(3) October 10

23) Arundhati Bhattacharya took charges as first women chairperson of (1) ONGC (2) CBI (3) NABARD

(4) October 11

(4) SBI

24) The Reserve Bank of India (RBI) on 7 October 2013 reduced the Marginal Standing Facility (MSF) rate to 9 per cent from 9.5 per cent. How this will affect the economy? (1) it will reduce the unemployment (2) it will contain falling rupees (3) it will improve the liquidity system (4) it can improve the condition of Current Account Deficit 25) Shaktiman mega Food Park has been inaugurated at (1) Bhatinda, Punjab (2) Nainital, Uttarakhand Pradesh

(3) Ranchi, Jharkhand

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(4) Amethi, Uttar

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26) Which of the following companies announced that it would start the mass production of world's first flexible OLED (organic light-emitting diode) panel for the smartphones? (1) LG (2) Samsung (3) Sony (4) Apple 27) The Supreme Court of India has directed the Union and all state governments to provide ______ job reservation to disabled persons in all their departments, companies and institutions. (1) 2 percent (2) 3 percent (3) 4 percent (4) 5 percent 28) Indira Gandhi International Airport has signed a Memorandum of Understanding (MOU) to become a sister airport with which of the following airports? (1) Frankfurt (2) Heathrow (3) Birmingham (4) Paris 29) Election Commission of India has decided to introduce which features in EVMs in phased manner for the next general elections in 2014? (1) Vote Verifier Paper Audit Trail (VVPAT) system (2) None Of The Above (NOTA) option (3) Both (1) & (2) (4) Face recognition system 30) Janet L. Yellen has been nominated to be as the first woman head of which of the following body? (1) FBI (2) CIA (3) Federal Reserve Board (4) World Bank 31) Malala Yousafzai won the Sakharov human rights prize 2013 on 10 October 2013.Sakharov human rights prize is awarded by (1) UNO (2) UNHCR (3) Amnesty International (4) European Union's (EU) 32) The India Post has launched instant electronic money transfer service in partnership with Wall Street Exchange under the name of (1) InstaCash (2) QuickMoney (3) Instant Cash (4) AirCash 33) World Arthritis Day is observed on (1) October 9 (2) October 10

(3) October 11

(4) October 12

34) The Organisation for the Prohibition of Chemical Weapons (OPCW) has won the Nobel Peace Prize for the year 2013 for its extensive efforts to eliminate chemical weapons. It is based in (1) Geneva (2) Paris (3) The Hague (4) Washington DC 35) Which country’s Prime Minister was recently abducted? (1) Syria (2) Egypt

(3) Libya

(4) Lebanon

36) Alice Munro won Nobel Prize 2013 in literature and became the first ________ woman to take the Nobel Prize since its launch in 1901. (1) Canadian (2) Australian (3) British (4) Brazilian 37) Which of the following pairs is not correctly matched? (1) India – Phailin (2) China – Fitow Sandy

(3) Philippines – Nari

(4) Indonesia –

38) In which of the following districts many people were feared killed and many other injured in a stampede on 13 October 2013 near a temple at Ratangarh? (1) Mandi, Himachal Pradesh (2) Allahabad, Uttar Pradesh (3) Datiya, Madhya Pradesh (4) Sikar, Rajasthan iLearn Centre for Competitive Exams, Aurangabad. Contact – (0240) 6451577 / 6451588

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39) Which of the following state of the art Geo-scientific research vessel to carry out sea bed mapping and mineral exploration has been recently inaugurated? (1) RV Samudra Ratnakar (2) RV Sindhu Kuber (3) RV Sindhu Khajana (4) Samudra Vaibhav 40) Who among the following personalities has been awarded with Indira Gandhi Award for National Integration for the year 2012? (1) Javed Akhtar (2) Shabana Azmi (3) M S Swaminathan (4) Swami Agnivesh 41) Name the New Zealand author, who won the Man Booker prize 2013 for her second novel entitled ‘The Luminaries’. (1) Laura Solomon (2) Eleanor Catton (3) Rosie Scott (4) Lauren Kim Roche 42) Which among the following countries has signed the bilateral agreement with India for the promotion and development of traditional systems of medicine on October 17, 2013? (1) Hungary (2) Finland (3) Sweden (4) Croatia 43) According to the Global Slavery Index 2013, which among the following countries has the highest numbers of people enslaved? (1) China (2) Pakistan (3) India (4) Nigeria 44) Recently, which country has granted honorary citizenship to Pakistani teenage activist Malala Yousafzai? (1) Canada (2) Australia (3) France (4) Italy 45) Name the Indian-American woman administrator, who has been confirmed as the assistant secretary of state for South and Central Asia by the US Senate. (1) Priyanka Desai (2) Nisha Desai Biswal (3) Nisha Arora (4) Nikki Halley 46) Which of the following States has lifted the Girls' title of the 54th Subroto Cup football tournament on October 17, 2013 held in New Delhi? (1) Haryana (2) Meghalaya (3) Manipur (4) Punjab 47) Li-Fi Tech, a new cheaper way of getting connected to internet by using signals sent through light bulbs, has been developed by the scientists of (1) China (2) Japan (3) Australia (4) South Korea 48) Recently, who has been appointed as the Chairperson of the Central Electricity Regulatory Commission (CERC) by Union Government of India? (1) Pramod Deo (2) V.S.Verma (3) Gireesh B. Pradhan (4) M Deena Dayalan 49) Name the eminent Telugu writer and Gyanpeeth award recipient, who passed away in Hyderabad on October 18, 2013. (1) Vecheru Narayana Rao (2) Ravuri Bharadwaja (3) Abburi Chayadevi (4) C. Ramachandra Rao 50) An international team of scientists has discovered a new species of dragon tree (Dracaena Kaweesakii) recently in (1) Brazil (2) Thailand (3) Zaire (4) Colombia iLearn Centre for Competitive Exams, Aurangabad. Contact – (0240) 6451577 / 6451588

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51) Which among the following countries has turned down a coveted seat on the United Nations Security Council on October 18, 2013? (1) Saudi Arabia (2) Egypt (3) Iraq (4) Kuwait 52) Who is the winner of Indian Open Snooker tournament 2013? (1) Aditya Mehta (2) Ding Junhui (3) Cao Yupeng

(4) Mark Allen

53) Union Ministry of Environment and Forests (MoEF), has constituted an expert committee to study whether the environmental degradation caused by hydro-electric projects on Alaknanda and Bhagirathi rivers led to Uttarakhand floods, under the chairmanship of (1) Pradeep Singh (2) Ravi Chopra (3) K.S.Chawla (4) B.K. Joshi 54) Who is the winner of Australian Grand Prix 2013? (1) Marc Marquez (2) Jorge Lorenzo

(3) Dani Pedrosa

(4) Valentino Rossi

55) World Osteoporosis day observed on (1) October 20 (2) October 21

(3) October 19

(4) October 17

56) How many regional parties of North East India have formed the North East Regional Political Front (NERPF) on October 20, 2013? (1) 10 (2) 5 (3) 8 (4) 6 57) The Cabinet Committee on Economic Affairs (CCEA) has enhanced the Minimum Support Price (MSP) of wheat by 50 rupees per quintal to ______ for the fiscal, starting April 2014. (1) 1400 rupees (2) 1250 rupees (3) 1050 rupees (4) 1500 rupees 58) Name the Brazilian football legend, who has launched a new book titled '1283'. (1) Rolando (2) Pele (3) Ronaldinho 59) Who is the fastest century scorer (in 52 balls) of India in One day International (ODI)? (1) Virat Kohli (2) Virender Sehwag (3) Mohammad Azharuddin Dhoni

(4) Roberto Carlos

(4) Mahendra Singh

60) Name the Cuban-American writer, who's first novel- 'Our House in the Last World' received the Rome Prize in the year 1985, and who died recently (1) Ruth Behar (2) Oscar Hijuelos (3) Carlos Pintado (4) Carlos Eire 61) Who has been awarded 3rd Hridaynath Mangeshkar award for his/her contribution to the film industry? (1) Amitabh Bachchan (2) Lata Mangeshkar (3) Asha Bhosle (4) Dilip Kumar 62) Who has been appointed as the Director General of Indo-Tibetan Border Police (ITBP)? (1) Subhas Goswami (2) Ajay Chadha (3) Sanjeev Dayal

(4) Arup Patnaik

63) Which among the following Bollywood’s female actors has been honoured in the House of Commons, London on October 29, 2013 (1) Priyanka Chopra (2) Kareena Kapoor (3) Deepika Padukone (4) Aishwarya Rai Bachchan 64) In which district of Gujarat, Prime Minister Dr. Manmohan Singh has inaugurated the Sardar Vallabhbhai Patel National Museum on October 29, 2013? (1) Surat (2) Ahmedabad (3) Gandhinagar (4) Rajkot iLearn Centre for Competitive Exams, Aurangabad. Contact – (0240) 6451577 / 6451588

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65) Dancer Geeta Chandran has been honoured with the Guru Debaprasad Award for outstanding contribution in the field of dance. She is associated with (1) Kuchipudi (2) Bharatnatyam (3) Kathak (4) Mohiniaattam 66) Name the Bollywood female actor who recently become the global brand ambassador of American fashion brand ‘Guess’ (1) Dipika Padukone (2) Katrina Kaif (3) Aishwarya Rai Bachchan (4) Priyanka Chopra 67) Reserve Bank of India increased the Repo Rate by 25 Basis Points to (1) 7.75 % (2) 7.50% (3) 7.25%

(4) 8.00%

68) Which among the following Bollywood actors has been conferred with the Mother Teresa Memorial International Award 2013 for his/her efforts towards achieving social justice on October 27, 2013? (1) Amir Khan (2) Sushmita Sen (3) Amitabh Bachchan (4) Aishwarya Rai Bachchan 69) The United Nations Day was observed on (1) October 24 (2) October 27

(3) October 21

(4) October 23

70) World’s first underwater rail link that connects two continents Asia and Europe was opened in (1) Turkey (2) Greece (3) Bulgaria (4) Romania 71) Who among the following Tennis players is the winner of World Tennis Association (WTA) Championships 2013 held in Istanbul, Turkey? (1) Li Na (2) Serena Williams (3) Petra Kvitova (4) Jelena Jankovic 72) Who is the head of Foreign Investment Promotion Board (FIPB)? (1) Arvind Mayaram (2) Rajat Sachar (3) Rajesh Khullar

(4) M. L. Meena

73) Who is the winner of gold medal in men’s 50-metre free rifle prone event, in the Asian Air Gun shooting championship in Tehran, Iran? (1) Sushil Ghalay (2) Sanjeev Rajput (3) Li Jiahong (4) Satyendra Singh 74) According to the China-based Hurun India Rich List, who is India's richest man with personal assets of USD 18.9 billion? (1) L N Mittal (2) Mukesh Ambani (3) Dilip Shanghvi (4) Azim Premji 75) Name the Indian-American who won Miss New Jersey USA 2014 title? (1) Nina Davuluri (2) Emily Shah (3) Sunita Param 76) Who is the winner of the women’s Luxembourg Open Tennis title 2013? (1) Caroline Wozniacki (2) Annika Beck (3) Simona Halep Pironkova

(4) Anchal Joseph

(4) Svetlana

77) Who has been elected as the President of the Indian Hockey Federation (IHF) for a four-year term on October 21, 2013 by Indian Hockey Federation (IHF)? (1) V. Dinesh Reddy (2) Kanwar Deep Singh (3) Balraj Aher (4) R.K Shetty 78) Name the legendary playback singer, Dadasaheb Phalke Award winner, who has died on October 24, 2013 in Bangalore. (1) S. P. Balasubrahmanyam (2) Manna Dey (3) K. J. Yesudas (4) Jayachandran iLearn Centre for Competitive Exams, Aurangabad. Contact – (0240) 6451577 / 6451588

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79) As per the study done by Global Initiative for Restructuring Environment and Management, which of the following cities has topped the list of best business destinations in India? (1) Bangalore (2) Chennai (3) Mumbai (4) Gurgaon 80) Twenty-three years after being awarded the Sakharov Prize for Freedom of Thought, who has collected the award in Strasbourg, France? (1) Aung Suu Kyi (2) Taslima Nasrin (3) Hu Jia (4) Dalai Lama 81) The 23rd ASEAN Summit was held in which of the following cities in October 2013? (1) Bali (Indonesia) (2) Phnom Penh (Cambodia) (3) Jakarta (Indonesia) Begawan (Brunei)

(4) Bandar Seri

82) Which Bangladesh cricketer became the first player to score a century and take a hat-trick in the same Test match in October 2013? (1) Tamim Iqbal (2) Shakib Al Hasan (3) Sohag Gazi (4) Abdur Razzak 83) Which of the following statements is not true with regard to OPCW? (1) The Organization for the Prohibition of Chemical Weapons (OPCW) was awarded the 2013 Nobel Peace Prize for its efforts to stop chemical warfare (2) It was established in 1997 with headquarters in The Hague, Netherlands (3) It has 189 member states and currently involved in destroying Syria's stockpiles of chemical weapons (4) OPCW is an agency of the United Nations 84) The 2013 Global Hunger Index (GHI) was released on October 14, 2013 by the International Food Policy Research Institute (IFPRI). What is India's rank? (1) 118 (2) 56 (3) 37 (4) 63 85) The United Nations Organization declared which of the following days as the International Day of the Girl Child? (1) October 10 (2) October 11 (3) October 12 (4) October 14 86) Laiki Bank was closed in 2013. It was the second largest banking group in? (1) Greece (2) Spain (3) Cyprus

(4) Portugal

87) According to the Stockholm International Peace Research Institute (SIPRI), which is the largest exporter of major conventional arms worldwide? (1) USA (2) Russia (3) Germany (4) France 88) An elected government completed its five-year term for the first time in which of the following countries in 2013? (1) Bangladesh (2) Myanmar (3) Italy (4) Pakistan 89) Belgian mathematician Pierre Deligne was given the 2013 Abel Prize. This Prize is given by (1) Belgium (2) USA (3) UK (4) Norway 90) Who has been recently awarded the highest civilian honour “Chevalier de laLegion d’Honneur” by France? (1) Anitha Jain (2) Madhu Chaudhary (3) Chaitra Singh (4) Anjali Gopalan 91) Akshay Urja shops are set up by the Ministry of (1) Commerce and Industry (2) Power Renewable Energy

(3) Science & Technology

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(4) New & Page 8

92) Which of the following schemes is not an employment generation scheme? (1) Food for Work scheme (2) Sampoorna Grameen Rozgar Yojana (3) Rural Landless Employment Guarantee Program (4) Mid-Day Meal scheme 93) Which of the following is NOT included while calculating Human Development Index (HDI)? (1) Life expectancy at birth (2) Per capita income (3) Literacy rate (4) Rate of migration to urban areas 94) The scheme launched for the empowerment of adolescent girls in India is (1) Prerna (2) Swabhiman (3) Sabla

(4) SEWA

95) Which bank has launched an 'Incredible India Travel Card' in association with the Tourism Ministry? (1) SBI (2) HDFC Bank (3) YES Bank (4) ICICI Bank 96) The Petroleum Ministry has appointed a Committee to prepare a roadmap for enhancing domestic production of oil and gas so as to reduce the country's import dependency by 2030. Who is its Chairman? (1) Y.V. Reddy (2) Vijay Kelkar (3) Bimal Jalan (4) D. Subba Rao 97) Who won the men's singles title at the 2013 All-England Badminton Championship? (1) Chen Long (2) Lee Chong Wei (3) Zhengming Wang

(4) Pengyu Du

98) Which of the following schemes was launched with the aim of increasing self-reliance and autonomy of women by providing self-employment? (1) STEP (2) IFAD (3) Aadhar (4) Aastha 99) As per the World Bank’s ease of doing business index, the best place within India to do business is (1) Hyderabad (2) Mumbai (3) New Delhi (4) Bangalore 100) India has provided Rs. 100 crore as a grant to Economic Stimulus Plan (ESP) to which one of the following countries? (1) Bangladesh (2) Bhutan (3) Maldives (4) Sri Lanka 101) Which of the following countries will assume the role of Chairman of the Indian Ocean Rim Association for Regional Cooperation (IOC-ARC) for next two year term? (1) Australia (2) Bangladesh (3) Sri Lanka (4) Indonesia 102) What is the newfangled name for the Targeted Public Distribution System (PDS)? (1) Anna Bhagya Yojana (2) Indiramma Anna Yojana (3) Indira Ahara Yojana Yojana 103) Who among the following has been appointed as next Air Force Chief of India? (1) Arup Raha (2) Sridar Chandra (3) Anup Gupta

(4) Bharat Anna

(4) Subrata Guha

104) The US space agency NASA is preparing to launch MAVEN spacecraft to probe the atmosphere of (1) Jupiter (2) Saturn (3) Mars (4) Moon 105) Which of the following states has been named as the best region to visit in 2014 by a leading travel guide Lonely Planet? (1) Kerala (2) Tripura (3) Sikkim (4) Assam 106) As per the latest Forbes magazine’s annual list of India’s 100 richest, top three richest business tycoons of India are? iLearn Centre for Competitive Exams, Aurangabad. Contact – (0240) 6451577 / 6451588

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(1) Mukesh Ambani, Lakshmi Mittal and Azim Premji (3) Lakshmi Mittal, Mukesh Ambani and Dilip Shanghvi Shanghvi

(2) Mukesh Ambani, Azim Premji and Lakshmi Mittal (4) Mukesh Ambani, Lakshmi Mittal and Dilip

107) The “She Taxi” project, which is aimed at ensuring safe travel for women, will be launched in which state? (1) Gujarat (2) Kerala (3) Goa (4) Mizoram 108) Which of the following islands have been named as the new “hope spot” by International Union for Conservation of Nature (IUCN) recently? 1. Andaman and Nicobar 2. Lakshadeep 3. Minicoy 4. Salsette (1) Only 1 (2) Only 2 (3) Only 1 & 2 (4) 1, 2, 3 & 4 109) Who among the following has been awarded with the prestigious Mother Teresa Memorial International Award for Social Justice? (1) Jaya Bachchan (2) Sushmita Sen (3) Medha Patkar (4) Ila Bhat 110) Which one of the following is a recently launched pension and life insurance fund scheme for blue collar Indian workers? (1) Rajiv Gandhi Pravasi Suraksha Yojana (2) Mahatma Gandhi Pravasi Sandhya Yojana (3) Rajiv Gandhi Pravasi Sandhya Yojana (4) Mahatma Gandhi Pravasi Suraksha Yojana 111) Who among the following is the author of "The Accidental Apprentice"? (1) K. M. Chandrasekhar (2) Vikas Swarup (3) Vijay K. Nambiar

(4) K. Raghunath

112) Who among the following is the chairman of the committee constituted to implement a national bill payment system? (1) Umesh Bellur (2) Ramesh Chandran (3) Subramanian Singh (4) Sudharshan Nayak 113) Who among the following has emerged as winner of Indian Grand Prix 2013? (1) Jaun Manuel (2) Michael Schumacher (3) Sebastian Vettel

(4) Mark Webber

114) Recently (October, 2013), BCCI has terminated which of the following from Indian Premier League? (1) Pune Warrior (2) Rajasthan Royals (3) Royal Challengers Bangalore (4) Mumbai Indians 115) "Udangundi a coal based thermal power" project is coming up in which state? (1) Andhra Pradesh (2) Tamil Nadu (3) Karnataka

(4) Odisha

116) Terry Walsh, who has been appointed as head coach of the Indian men's hockey team is from (1) Australia (2) England (3) South Africa (4) None of the above 117) Which among the following is India's largest Onion Producing state? (1) Maharashtra (2) Andhra Pradesh (3) Gujarat

(4) Karnataka

118) Which among the following banks have recently become the first bank to allow customers to open an account with just their Aadhaar number (no paperwork needed)? (1) ICICI Bank (2) State Bank of India (3) Axis Bank (4) HSBC

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119) With which among the following neighbouring countries, India has signed a Border Defence Cooperation Agreement recently (October 2013)? (1) Pakistan (2) China (3) Bangladesh (4) Nepal 120) For development of the infrastructure at panchayat level, which among the following state governments gives Rs. 1 crore as grant to panchayats under its ‘Din Dayal Panchayat Raj Infrastructure Development Scheme’? (1) Maharashtra (2) Goa (3) Gujarat (4) Haryana 121) Recently, the government of India has announced a ‘funding for lending’ scheme. Who are the beneficiaries for this scheme? (1) Micro-finance Institutions (2) Commercial Banks (3) Finance departments of the State Governments (4) Regional Rural Banks 122) Who among the following is has won “Macau Open Title 2013”? (1) Dipika Pallikal (2) Natalie Grinham (3) Suzanne Horner

(4) Rachael Grinham

123) Which of the following nations has signed a comprehensive free trade agreement with European Union? (1) USA (2) Canada (3) Japan (4) China 124) Jnanpith Awardee, Dr Ravuri Bharadwaj, who passed away recently, was an eminent writer in (1) Telugu (2) Konkani (3) Hindi (4) Bengali 125) At which of the following places India’s largest Air Traffic Control Tower has been inaugurated recently? (1) Bangalore International Airport (2) Rajiv Gandhi International Airport (3) Indira Gandhi International Airport (4) Mumbai International Airport 126) What is the name of joint military exercise, which was started by Indian and Russian armies recently? (1) INDRA (2) SHAKTI (3) VARUN (4) MILAN 127) “At The Close of Play” is an upcoming autobiography of which cricket player? (1) Brian Lara (2) Ricky Ponting (3) Sachin Tendulkar

(4) Chris Gayle

128) Who among the following has been presented with first Yash Chopra Memorial Award? (1) A P J Kalam (2) Meera Kumari (3) Lata Mangeshkar (4) Aamir Khan 129) According to International Monetary Fund (IMF) figures how many commercial bank branches are there in India per 100,000 adults? (1) 10.50 (2) 11.38 (3) 12.50 (4) 15.50 130) The book titled “1283” is about of the career illustration of which football legend? (1) Lionel Messi (2) David Beckham (3) Pele

(4) Baichung Bhutia

131) Which of the following states has announced “door delivery scheme” for all ration card holders of state to provide them food grain? (1) Karnataka (2) Himachal Pradesh (3) Haryana (4) Assam 132) Who among the following has been appointed as brand ambassador of Micromax smartphone? (1) Johnny Depp (2) Salman Khan (3) Hugh Jackman (4) Akshay Kumar 133) The “Fort of Raja Rao Ram Bux” which is news recently for its hidden gold treasure is located in which state? (1) Maharashtra (2) Tamilnadu (3) Uttar Pradesh (4) Rajasthan iLearn Centre for Competitive Exams, Aurangabad. Contact – (0240) 6451577 / 6451588

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134) The “Babli Project” is a controversial reservoir project between which of the following states? (1) Andhra Pradesh & Karnataka (2) Karnataka & Goa (3) Maharashtra & Andhra Pradesh (4) Karnataka & Tamilnadu 135) India’s Aditya Mehta is associated with which one of the following sports/games? (1) Snooker (2) Tennis (3) Football

(4) Shooting

136) In which of the following seas India has building Tsunami warning device? (1) Arabian Sea (2) South China Sea (3) Bay of Bengal

(4) Indian Ocean

137) In October 2013, who among the following has become the first Indian cricketer to score fastest century in one day international matches? (1) Yuvraj Singh (2) M.S. Dhoni (3) Virat Kohli (4) Shikhar Dhawan 138) The Ministry of Overseas Indian Affairs is in the process of implementing “Swarn Pravas Yojana”. The objective of the proposed scheme is to (1) Provide free Insurance scheme for overseas workers (2) Train youth for overseas jobs (3) Provide financial assistance for overseas workers (4) Provide pension scheme for aged overseas workers 139) Name the Geo-scientific research vessel, which is dedicated to the nation recently? (1) RV Samudra Ratnakar (2) Samudra Prahari (3) Sagara Deepa

(4) Sea Pearl

140) Mohan Dharia, who passed away recently, was a (1) Scientist (2) Diplomat

(4) Classical singer

(3) Author

141) Recently (October 2013), ONGC Videsh limited has won 2 land oil blocks in which of the following countries? (1) Nigeria (2) Myanmar (3) Indonesia (4) Australia 142) The “Bimal Roy Memorial Award” is associated with which of the following fields? (1) Cinema (2) Sports (3) Journalism Technology

(4) Science &

143) As per the latest data by National Human Rights Commission (NHRC), which of the following states tops in human rights violation cases? (1) Bihar (2) Haryana (3) Uttar Pradesh (4) Odisha 144) Recently (October, 2013), India Post has launched Instant Cash, an instant electronic money transfer service in partnership with (1) Bombay Stock Exchange (2) BSNL (3) Wall Street Exchange (4) Reliance 145) Recently, which of the following movies has entered into Guinness World Record for its larger post? (1) Boss (2) Ishk Actually (3) Shahid (4) Krish 3 146) The Campaign named “Heal India” aims to create awareness about which of the following diseases? (1) HIV/AIDS (2) Leprosy (3) Mental illness (4) Alzheimer 147) The “Maitri Thermal Power” project is a joint venture of India and which country? (1) Pakistan (2) Bhutan (3) Bangladesh

(4) Nepal

148) Recently, Indira Ghandi International airport signed a MoU called Sister Airport Agreement with which airport? (1) Birmingham Airport (2) Glasgow Airport (3) Tokyo Airport (4) Durban Airport iLearn Centre for Competitive Exams, Aurangabad. Contact – (0240) 6451577 / 6451588

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149) Which of the following banks has won the Golden Peacock Award for excellence in corporate governance 2013? (1) SBI (2) Syndicate Bank (3) Canara Bank (4) Vijaya Bank 150) Who among the following has won International Press Institute Award for excellence in Journalism? (1) Tilak Kumar (2) Karan Thapar (3) Vyasa Rao (4) N Ravi 151) On which of the following days “World Habitat Day” was observed? (1) October 3 (2) October 5 (3) October 7

(4) October 6

152) Who among the following has been recently inducted into the prestigious National Academy of Engineering, United States for his contribution to industrial development in India and world? (1) E. Sridharan (2) Ratan Tata (3) Chandra Shekar (4) Navin Murthy 153) Who among the following has been appointed as chairperson of State Bank of India (SBI)? (1) Kavitha Krishnamurthy (2) Usha Chandrashekar (3) Arundhati Bhattacharya (4) Sonakshi Vishal 154) Which of the following pairs has won China Open women’s double 2013 tennis title? (1) Sania Mirza, Cara Black (2) Vera Dushevina, Arantax Parra (3) Sania Mirza, Arantax Parra (4) Cara Black, Vera Dushevina 155) The Rashtriya Uchchatar Shiksha Abhiyan (RUSA) schemes aims to reform (1) Higher Education (2) Primary Education (3) Girl child Education

(4) Tribal Education

156) Who among the following is the chairman of the committee on Comprehensive Financial Services for Small Businesses and Low-income households? (1) Vikram Pandit (2) Nachiket Mor (3) Shiksha Sharma (4) Deepak Parekh 157) In October 2013, SEBI has announced new Foreign Portfolio Investor (FPIs) regulations for easier registration process and operating framework for investors from abroad. The new FPIs will encompass which of the followings? 1. Foreign Institutional Investors 2. Qualified Foreign Investors 3. Non-Resident Indians (1) Only 1 (2) Only 1 & 2 (3) Only 1 & 3 (4) All 1, 2 & 3 158) Recently (October, 2013), India and which of the following countries come together to practice amphibious war manoeuvres in Goa under the code name “Exercise Shatrujeet” ? (1) Italy (2) Russia (3) America (4) Iran 159) Recently (October, 2013), which of the following has signed MoU with Archaeological Survey of India for an endeavour to create 360 degree online panoramic imagery of 100 nationally-important monuments in India? (1) Yahoo (2) Google (3) Facebook (4) Twitter 160) Who among the following has been appointed as Brand Ambassador of National Tobacco Control campaign? (1) Sachin Tendulkar (2) Rahul Dravid (3) Saurav Ganguly (4) Kapil Dev 161) Who among the following has been conferred “Allard Prize for International Integrity”? (1) Anna Hazare (2) Arvind Kejriwal (3) Kiran Bedi Singh

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(4) Manmohan

Page 13

162) In October 2013, which of the following states has launched “Kanyashree” project with an aim to bring betterment to the life of girl children? (1) Odisha (2) Uttar Pradesh (3) West Bengal (4) Tamil Nadu 163) On which among the following dates, the International Day for Older persons is observed ? (1) September 28 (2) September 30 (3) October 1 (4) October 2 164) Who among the following has been appointed as Chairman of India Premier League (IPL)? (1) Rajeev Shukla (2) Sameer Singh (3) Ranjib Biswal (4) Sanjay Jagdale 165) As per the latest survey, which of the following is emerged as topmost global brand in the world? (1) Coca Cola (2) Apple (3) Samsung (4) Nokia

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ANSWERS FOR CURRENT AFFAIRS Q & A Q. No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41

Answer 1 4 3 3 2 4 4 2 3 1 1 3 1 3 2 2 2 4 4 4 2 1 4 3 4 1 2 3 3 3 4 3 3 3 3 1 4 3 1 3 2

Q. No. 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82

Answer 1 3 1 2 3 1 3 2 2 1 2 2 2 1 1 1 2 1 2 1 1 2 2 2 4 1 2 1 1 2 1 2 2 2 1 2 2 1 1 4 3

Q. No. 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123

Answer 4 4 2 3 1 4 4 4 4 4 4 3 3 2 1 1 3 2 1 2 1 3 3 4 2 3 2 4 2 1 3 1 2 1 1 3 2 2 2 1 2

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Q. No. 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165

Answer 1 4 1 2 3 2 3 2 3 3 3 1 2 3 2 1 2 2 1 3 3 1 2 3 1 3 2 3 2 3 1 1 2 2 3 2 2 1 3 3 3 2 Page 15


IBPS PO III (19th, 20th, 26th & 27th October) Source:

1. Full Form of IBSA? India, Brazil, South Africa

14. Full form of CDS? Credit Default Swap

2. Who has directed the Bollywood film The Lunchbox? Ritesh Batra

15. Fairfax group head who brought blackberry? Prem Watsa

3. According to 2011 census which state has highest Rural Population? Uttar Pradesh (15.51 crore- 18.16% of India’s Rural Population)

16. Gujar Mal Modi award winner 2013? Vinod Prakash Sharma 17. Bank which has headquarters in Bangalore? Vijaya Bank

4. Which tennis player has retired in August 14, 2013? Marion Bartoli

18. Aadhaar Bill name? UIDAI bill

5. Who is the Head of WTO? Robert Azevedo

19. DAX 30 is the stock exchange of which country? Germany

6. What is the MSF rate as on October 2013? 9%

20. As per IMF India's GDP Growth rate? 3.8%

7. Who is the writer of the novel 'Life of Pie'? Yann Martel

21. CRR changed to? 4%

8. International Children's Peace Prize 2013 was awarded to? Malala Yousafzai

22. Who among the following is chairman FMC (Forward Markets Commission)? Ramesh Abhishek

9. Limit of educational loans under priority sector? 10 lakh for studies in India and 20 lakh for studies abroad

23. What is the name of food grain scheme of Himachal Pradesh?

10. Senior citizens can invest up to under Senior Citizens Saving Scheme? 15 lakh 11. Duration of 12th five year plan? 2012-2017

24. Which of the following is the GAAR implementation date? April 1,2016 25. Who among the following is the new chairman of SBI? Arundhati Bhattacharya

12. Full Form of FTP? File Transfer Protocol

26. Who among the following is the new chairman of AADHAR? Nandan Nilekani

13. GDP Growth rate of India as per Central Statistics Office (CSO) for 2013? 4.4%

27. Full form of NOFHC Non Operative Financial Holding Company

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28. India’s place in global competitive list by WEF 2012-13? 59

43. Best Foreign Language Film at the 86th Academy Awards(From India) The Good road

29. Which of the following is the population growth rate (2001-2011)? 1.7%

44. Which scheme was started by Himachal Pradesh under food security program from Sept 20? Rajiv Gandhi Anna Yojana

30. Graphic biography of whom released by Amar Chitra Katha? Dhyan Chand

45. Iran’s New President? Hassan Rouhani


31. Bank rate wef 7 October 9% 32. The book ‘Fault lines’ is written by whom? Raghuram G Rajan

46. India inked DTA pact with which country? Morocco 47. Company Bill 2013 48. Decadal Growth Rate according to Census 2011? 17.64%

33. Which of the following Bank open 15000 branches? SBI

49. Indira Gandhi peace prize was conferred on? Ellen Johnson Sirleaf

34. Which of the following country in BRICS? Brazil, Russia, India, China, South Africa

50. World heart day? 29th September

35. Rajiv Gandhi Sadbhavana Award ? Ustad Amjad Ali Khan

51. Who monitors 5year plan? Yojana Ayog

36. One question related to INS VIKRANT.

52. Which company has launched Jupiter Bike? TVS

37. Pullela Gopichand related to which game? Badminton 38. Maharashtra state launches 'Manodhairya' scheme for whom? For rape victims 39. What is the Maximum limit in priority sector by public sec? 40 %

53. Parsi Community new scheme to increase parsi population? Jiyo Parsi 54. RTI Information fees? Rs.10 55. Sandeep Tulsi Yadav is related to which sport? Wrestling

40. According to MSMED Act 2006,maximum limit in services is 5 crore .what is minimum limit for medium enterprises? 2 crore

56. New High Commissioner to UK? Ranjan Mathai

41. Who is the First women chief information commissioner? Deepak sandhu

58. Nobel Peace Prize in Economics: Eugene F. Fama (and Robert J. Shiller and Lars Peter Hansen)

42. Sundarban located in which state? West Bengal

57. UN Representative of India? Asoke Kumar Mukerji

59. Nikkei is the stock exchange of which country? Japan

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60. Director of ‘The Good Road’ Gyan Correa 61. Anna Hazare received which prize? Allard Prize for International Integrity 62. Aircel Parternership with which mobile company? Micromax 63. Decrease in currency’s value due to market forces, not government policies or actions Depreciation 64. Movable Assets: Movable assets are those which are 'movable'- stocks, money, shares, furniture, gold, jewellery 65. First RBI Governor? Sir Osborne Smith 66. Brand Ambassador for Tobacco Abandoning Rahul Dravid 67. Currency of Bhutan Ngultrum 68. Microsoft bought Nokia for $7.2 billion 69. First Greco Roman Medal is baaged by whom in India? Sandip Tulsi Yadav 70. Who received Saraswati Samman? Sugatha Kumari 71. Head of financial committee on small and low income and financial inclusion? Nachiket Mor 72. 1st Indigenous Submarine? INS Arihant 73. Basic point difference between MSF and Repo rate? 150 points 74. KBC current season? 7th

75. ‘Jo biwi se kare pyar wo prestige se kaise kare inkaar’ ad done by which couple? Abhishek Bachchan & Aishwarya Rai Bachchan 76. Growth forecast in 12 five year plan? 8 per cent 77. Question related to dividend equity. 78. Who is Headley? Terrorist 79. Who has written a book on Meena Kumari? Vinod Mehta 80. Question on JNNURM 81. “Run on bank” means? Heavy cash withdrawal from depositors from their accounts at the same time 82. Rupay Project of? NPCI 83. According to 2011 census there were 640 districts in India, but how many villages? More than 600,000 84. Who is the author of the book “The first woman President in India Reinventing Leadership – Pratibha Devisingh Patil”? Sunaina Singh 85. Which is not included in balance sheet? 86. Foreign Currency Limits for tourists? USD 10,000 87. Accounts maintained by Foreign Banks in India? Vostro 88. IIFCL stands for? India Infrastructure Finance company Limited 89. Highest remittance receiving countries? India & China 90. Campaign launched to promote virgin peaks of Himalayas and make India favoured tourist destination? 777 days of Incredible Indian Himalayan Campaign

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91. The book ‘My Journey: Transforming Dreams Into Actions’ is written by? APJ Abdul Kalam

108. NEFT maximum limit? No limit

92. Director of the movie ‘Silver Linings Playbook’? David O. Russel

110. Currency swap agreement between? India and Japan

93. Germany Chancellor? Angela Merkel 94. Which one is not Credit Rating Agency?

111. Which Indian actor is/has been selected for a US award for his television show by the America Abroad Media (AAM)? Aamir Khan for Satyameva Jayathe

95. Tennis Hall of Fame Martina Hingis

112. Deep discount bond feature? Zero coupon bond

96. FTSE 100? London Stock Exchange

113. First cyber forensic laboratory set up in? Tripura

97. FDI in pension sector? 49%

114. If depreciation of assets is not taken into account what will happen to balance sheet of bank?

98. Rice, pulse, millets belongs to which crop? Kharif Crop

115. Trade deficit was how much low as on September?

99. India’s Defense satellite recently launched by France? GSAT-7

116. Which option will be provided to voters by Election Commission in upcoming elections as per the directives of Supreme Court? Option to Reject All (NOTA)

100. 1% extra tax on buying property above? Rs. 50 lakh 101. Senior citizens over 80 years of age exempted from tax limit? Upto Rs. 5 Lakh

109. One question on Prithvi-2

117. Full form of SLR Statutory Liquidity Ratio 118. Bank Rate on 20th September 2013 9.50%

102. India- China defence summit held in Beijing

119. Which of the following is not a type of an asset? Loss

103. KYC is not for the purpose of financial position of the account holder

120. After how much time is an asset declared NPA? 90 days

104. RBI 0 % EMI on credit card related question

121. SARFAESI Act for Asset Reconstruction, Recovery of debt

105. Jet and Etihad deal 51% state of company, 24% Etihad, 25% public share 106. Maximum deposit amount insured by DICGC? Rs. 1 lakh 107. Who announced retirement from Tennis in October? Nalbandian

122. Which of the following terms is related to cricket? T20 123. Tagore Award 2013 for cultural harmony Zubin Mehta

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124. Father of mouse Douglas Engelbart

141. Fiscal Deficit target 4.8%

125. MICR stands for Magnetic Ink Character Recognition

142. Microprocessor manufacturing company INTEL

126. 28th Prime Minister of Australia Tony Abbot

143. Tablet produced by Microsoft Surface

127. CCTV stands for Closed Circuit Television

144. Raghuram Rajan’s recent monetary policy

128. 28th Member of European Union Croatia 129. US Federal Chief Ben Bernanke 130. IMEI is related to Mobile 131. Debentures are Medium to long term debt instruments 132. Federal Bank Head Shyam Srinivasan 133. National Award for wholesome entertainment Vicky Donor 134. Who has never been a Member of Parliament? Amitabh Bachchan 135. Limit of Micro enterprise as per MSMED Act, 2006 25 lakhs 136. The ‘Lowland Writer’ author nominated for Man Booker award Jhumpa Lehri 137. Related to MGNREGA and BASEL 138. BSBDA initial minimum deposit amount Zero balance account for BPL people 139. Credit information is collected and recorded by CIBIL 140. Which of the following cannot be used as a proof of identification Electricity Bill

145. Raj Bhasha Award given by RBI 146. Low housing Scheme India signed 100 million$ agreement with World Bank 147. Which is the rate that RBI changes in this 20 September Bank Rate 148. RTGS minimum transaction amount 2 lakh 149. Pension given to those people who are suffered from Muzaffarnagar riots come under which scheme? Rani Laxmi Bai Pension Scheme 150. Who directed the bollywood film Satyagraha? Prakash Jha 151. The limit of Rajiv Gandhi Equity Savings Scheme (RGESS) hiked to Rs. 12 Lakh per year 152. ATM wrong deduction to be refunded within? 153. Which of the following bank doesn’t have its head office in Kolkata? IOB 154. When RBI wants to absorb liquidity from market by – increase reverse repo, decrease repo or increase CRR? Increase Reverse Repo Rate 155. Committee on Gold KUB Rao committee

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156. Which book is not written by Chetan Bhagat Two people

172. “Bhaag Milkha Bhaag” actor? Farhaan Akhtar

157. Who becomes the first Indian-origin Miss America 2013? Nina Davuluri

173. CEO of Women’s Bank Usha Ananthasubramanian

158. GDP Growth Forecast by CSO for 2013-14? 5.3% 159. The name of the airline venture float by TATA and Singapore Airlines? Tata SIA Airlines Ltd 160. Which is the Most Important Stock Exchange in the World? NYSE / NASDAQ

174. Full form of EASIEST Electronic Accounting System in Excise and Service Tax 175. ATM without the label of any bank White label ATM 176. Capital of Lebanon Beirut 177. Information technology Act in which year? Information Technology Act 2000 (also known as ITA2000)

161. Which award given to Finance Minister P Chidambaram by Business Reformer Award

178. IFSC Code is needed in Online or Net Banking Transaction

162. Balance Sheet indicates what? Company's assets

179. Who is the first Indian to win shooting completion in world championship Rahi Sarnobat

163. Which award given to Finance Minister P Chidambaram by Business Reformer Award 164. G20 Summit 2013 Venue Saint Petersburg, Russia 165. Infosys launches new version of banking solution Finacle11 166. R. Sodhi related to which sport? Shooting 167. MacMohan Line between which countries India and China 168. Who developed rupee symbol Udaya Kumar 169. CEO of Apple Inc.? Timothy D. Cook 170. FCNR (B) interest rate? 171. REER full form? Real Effective Exchange Rate

180. 726 MW ONGC power project in which NorthEastern state Tripura 181. The 78-year-old RBI history book released by Prime Minister Manmohan Singh RBI History – Looking Back and Looking Ahead 182. Mandatory for companies to spend at least 2% of net profits on CSR (Corporate Social Responsibility) 183. If an NRI wants to deal in Indian market , he can do so by Participatory notes 184. Adjustments done by central bank of a country to control money is called Monetary Policy 185. Who is the richest Indian in world 6 times continuously Mukesh Ambani

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186. International Women’s day? 8 March

191. Hassan Rouhani is the President of Iran

187. GAAR full form General Anti-Avoidance Rule

192. Wheat , Bajra comes under Kharif crop

188. SAFTA full form South Asian Free Trade Area (SAFTA)

193. New Director General of CPRF Dilip Trivedi

189. Zimbabwe President Robert G.Muagabe

194. Head-quarters of WTO Geneva

190. The process of making blackmoney white Money Laundering

195. Import duty on gold 15%

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THE NOBEL PRIZE The Nobel Prize is a set of annual international awards bestowed in a number of categories by Swedish and Norwegian committees in recognition of cultural and/or scientific advances. The will of the Swedish inventor Alfred Nobel established the prizes in 1895. The prizes in Physics, Chemistry, Physiology or Medicine, Literature, and Peace were first awarded in 1901. The related Nobel Memorial Prize in Economic Sciences was created in 1968. The Peace Prize is awarded in Oslo, Norway, while the other prizes are awarded in Stockholm, Sweden. The Nobel Prize is widely regarded as the most prestigious award available in the fields of literature, medicine, physics, chemistry, peace, and economics. The Royal Swedish Academy of Sciences awards the Nobel Prize in Physics, the Nobel Prize in Chemistry, and the Nobel Memorial Prize in Economic Sciences; the Nobel Assembly at Karolinska Institutet awards the Nobel Prize in Physiology or Medicine; the Swedish Academy grants the Nobel Prize in Literature; and the Nobel Peace Prize is not awarded by a Swedish organisation but by the Norwegian Nobel Committee. The various prizes are awarded yearly. Each recipient, or laureate, receives a gold medal, a diploma and a sum of money, which is decided by the Nobel Foundation. The prize is not awarded posthumously; however, if a person is awarded a prize and dies before receiving it, the prize may still be presented. Also, a prize may not be shared among more than three people. YEAR



Martin Karplus François Englert 2013

Michael Levitt Peter Higgs Arieh Warshel

Serge Haroche 2012 David Wineland

Brian Kobilka Robert Lefkowitz





Organisation for Eugene Fama the Prohibition of Chemical Randy Schekman Alice Munro Lars Peter Hansen Weapons Thomas Südhof Robert Shiller (OPCW) James Rothman

John Gurdon

Alvin Roth Mo Yan

European Union

Shinya Yamanaka

Lloyd Shapley

Only four Indian citizens have won the Nobel prize – Rabindranath Tagore in 1913 for Literature C. V. Raman in 1930 for Physics Mother Teresa in 1979 for Peace Amartya Sen in 1998 for Economic Sciences Indians with foreign citizenship, who have won the Nobel prize – Har Gobind Khurana in 1968 for Medicine Subrahmanyan Chandrasekhar in 1983 for Physics V. S. Naipaul in 2001 for Literature Venkatraman Ramakrishnan in 2009 for Chemistry iLearn Centre for Competitive Exams, Aurangabad. Contact – (0240) 6451577 / 6451588

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RBI’s Second Quarter Monetary Policy review

Policy Rates – Bank Rate = 8.75 % ; Repo Rate = 7.75 % ; Reverse Repo Rate = 6.75 % ; Marginal Standing Facility = 8.75 % Reserve Ratios – Cash Reserve Ratio (CRR) = 4 % ; Statutory Liquidity Ratio (SLR) = 23 %

The Reserve Bank of India (RBI) raised its policy interest rate for the second time in two months, warning that inflation is likely to remain elevated for the rest of the fiscal year, and rolled back an emergency measure put in place to support the slumping rupee. The central bank lifted its policy repo rate by 25 basis points (bps) to 7.75 %, despite the risks to an economy experiencing sluggish (slow) growth. Following are the highlights of the central bank's second quarter review of the Annual Monetary Policy Statement for 2013/14 – POLICY MEASURES * Repo rate hiked by 25 bps to 7.75 % * Reverse repo rate rises to 6.75 % * Banks' cash reserve ratio unchanged at 4 % * Marginal Standing Facility Rate (MSF) cut by 25 bps to 8.75 % * Increases cash provided to banks through term repo to 0.50 % of net demand and time liability from 0.25 % POLICY STANCE * WPI inflation to remain higher than current levels, warranting "appropriate policy response" * Important to break the spiral of rising price pressures in order to curb the erosion of financial saving * Process of realigning interest rate corridor to normal monetary policy operation now complete * Will closely monitor inflation risks while being mindful of the evolving growth dynamics FORECASTS * India's GDP growth at 5 % for 2013/14 * Retail inflation likely to remain around or even above 9 % without policy action MEASURES FOR BANKS, NON-BANK FINANCIAL COMPANIES * Foreign banks setting up wholly-owned subsidiaries will be given near-national treatment, to issue scheme by midNovember

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* Initial minimum paid-up voting equity capital or net worth for wholly owned foreign bank's subsidiary will be $5 billion * More durable way for banks to mitigate mismatch in demand and supply of cash is to step up efforts to mobilise deposits * Draft report on Basel III capital framework likely by end-November * Draft of proposed framework for domestic systemically important banks by end-November * To issue updated guidelines on stress testing for banks by end-November * To give banks option to pay interest on savings deposits and term deposits at intervals shorter than quarterly intervals * First meeting of High Level Advisory Committee on new bank licences on November 1 * To issue guidelines on restructuring for non-bank finance companies (NBFCs) by end-November MEASURES FOR MARKETS & LIQUIDITY * To issue 10-year retail inflation-indexed securities in November/December * To launch 10-year interest rate futures contracts by end-December * Allows partial credit enhancement for corporate bonds by banks via credit, liquidity facilities * To issue final guidelines on unhedged foreign currency exposures by end-December * To close special repo window for mutual funds with immediate effect

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BANKING Q & A 1. Savings Banks interest is calculated on the basis of (1) Minimum available balance (2) Bank's liquidity (4) Daily balance method (5) None of these

(3) Profitability preferences of a bank

2. A customer deposits a sealed box in a bank in Safe Custody. What will be the relation between the customer and the bank in this case ? (1) Creditor – Debtor (2) Bailor – Bailee (3) Trustee – Beneficiary (4) Principal – Agent (5) Licensor - Licensee 3. Which term is used for an account which has been inoperative since 2 years due to change of residence of the customer ? (1) Dormant account (2) Inactive account (3) Static account (4) Unclaimed account (5) Anonymous account 4. Which policy of the Reserve Bank of India does not deal in fixing interest rates ? (1) Monetary Policy (2) Expansionary policy (4) Fiscal Policy (5) Credit Policy

(3) Contractionary policy

5. Which of the following bodies/organizations is responsible for the inspection, supervision and surveillance of Regional Rural Banks (RRBs) ? (1) NABARD (2) SEBI (3) RBI (4) IRDA (5) Union Ministry of Rural Development 6. The "Three Pillar Approach" of Risk Management does not include (1) Minimum capital requirements (2) Supervisory review (4) Thrift (5) All of the above

(3) Market discipline

7. According to the Micro, small and Medium Enterprises Development (MSMED) Act, 2006 micro enterprise is an enterprise where investment in plant and machinery does not exceed (1) Rs. 5 lakh (2) Rs. 10 lakh (3) Rs. 25 lakh (4) Rs. 50 lakh (5) Rs. 1 crore 8.Public Provident Fund in India is open for a period of (1) 1 year (2) 5 years (3) 10 years

(4) 15 years

(5) 20 years

9. Which of the following bank customer relationship does not come under the Code of Fair Banking Practice ? (1) To describe standards of good practice and service (2) To force the customers comply with the Know Your Customer (KYC) norms (3) To promote disclosure of information relevant and useful to customers (4) To promote informed and effective relationship between Banks and Customers (5) To require Banks to have procedures for resolution of disputes between Banks and Customers 10. Which among the following constitutes the largest percentage of retail loans in India ? (1) Personal Loans (2) Auto Loans (3) Home Loans (4) Consumer Loans (5) Education Loans 11. The head of Hindu Undivided Family is called (1) Karta (2) Dharta (3) Co-Partner

(4) Mukhya

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(5) Grihastha Page 26

12. What is the Reverse Repo Rate at present ? (1) 7.50 % (2) 7 % (3) 6.5 %

(4) 6.25 %

(5) 6 %

13. Which among the following, is not one of the main purposes behind the start of Basic Saving Account by banks in India ? (1) To provide normal banking service available to all (2) To provide saving account facility without requirement of any minimum balance (3) To promote 'no-frills' account (4) To provide facility of ATM card or ATM-cum Debit Card (5) None of these 14. Under the Prevention of Money laundering Act, every banking company is needed to furnish details of cash transactions of the value of more than ____ or its equivalent in foreign currency. (1) Rs. 1 lakh (2) Rs. 5 lakh (3) Rs. 10 lakh (4) Rs. 25 lakh (5) Rs. 50 lakh 15. At present, Demand Drafts in India are valid for a period of (1) 1 month (2) 2 months (3) 3 months

(4) 6 months

(5) 1 year

16. As per the guidelines issued by the Reserve Bank of India in May 2013, debt service coverage ratio should be greater than ___ within the 5 years period. (1) 0 % (2) 0.50 % (3) 1 % (4) 1.25 % (5) 1.50 % 17. Which of the following is not correct regarding the Cheque Truncation System (CTS) in India ? (1) It speeds up the process of collection of cheques (2) It reduces the scope for cheque clearing-related frauds (3) Truncation of cheques is yet to be legalized (4) It lowers the cost of collection of cheques (5) It removes reconciliation related and logistics-related problems 18. What is the liability of the Banker in case of Wrongful Dishonour of Cheques ? (1) He is liable to compensate the customer for the loss suffered by him (2) He is not liable to compensate the customer for the loss (3) He can transfer the matter to the Customer Grievance Redressal Department (4) Both the customer and the banker have to split the compensation in the ratio of 50 : 50 (5) None of these 19. In the context of financial inclusion, what does USB refer to ? (1) Ultra Small Banking (2) Unified Services Branch (4) Union Saving Banking (5) Ultra Small Branch 20. In the field of banking sector, what is the full form of ECS ? (1) E-Commerce Service (2) Entity Component system (4) Electronic Clearing Service (5) Extended Core Storage

(3) Ultra Simplified Banking

(3) Embodied cognitive science

21. If a person had income from salary, pension and interest income, then which Income Tax Form will be filled by him ? (1) ITR-1 (2) ITR-2 (3) ITR-4 (4) ITR-8 (5) ITR-12 22. Which of the following is not correct regarding Financial Inclusion ? (1) It is the delivery of financial services at affordable costs iLearn Centre for Competitive Exams, Aurangabad. Contact – (0240) 6451577 / 6451588

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(2) It is targeted at sections of disadvantaged and low-in-come segments of society (3) It promotes financial and institutional sustainability (4) The Reserve Bank of India (RBI) set up the Jalan Commission in 2004 to look into financial inclusion (5) Opening of no-frills accounts is a step towards financial inclusion 23. Which of the following is a fully-owned subsidiary of the Reserve Bank of India ? (1) Reserve Bank of India Staff College (2) Institute for Development and Research in Banking Technology (3) Indira Gandhi Institute for Development Research (4) Deposit Insurance and Credit Guarantee Corporation of India (5) National Institute for Bank Management 24. Which of the following is the currency of the European Union ? (1) Pound Sterling (2) Euro (3) Franc

(4) Krona

(5) Forint

25. Under which Act can criminal prosecution of the defaulter be initiated for dishonouring of an electronic fund transfer instruction due to insufficiency of funds in the account ? (1) Negotiable Instruments Act, 1881 (2) Indian Penal Code, 1860 (3) Payment and Settlement Systems Act, 2007 (4) Both (1) and (2) (5) Both (2) and (3) 26. Which of the following statements correctly describe Brown Label ATMs in India ? (1) They are those ATMs where hardware and the lease of the ATM machine is owned by a service provider (2) They are those ATMs where cash management & connectivity to banking networks is provided by a sponsor bank (3) They are alternative between bank-owned ATMs and 'white label' ATMs (4) These ATMs are marked by an incentive to ensure efficiency in terms of usage (5) All of the above 27. A bank customer (a company has a cash credit limit of Rs. 1,00,000. After making a payment on a scheduled date, its credit balance gets reduced to Rs. 80,205. In this context, under which facility can one entity / company make payments from its bank account to a number of recipients by direct credit to their bank account ? (1) NEET (2) RTGS (3) ECS (4) Standing Instructions (5) Only (1) & (2) 28. A letter of credit where in the credit available to the customer gets reinstated after the bill is paid is known as (1) Back to back LC (2) Red clause LC (3) Recourse LC (4) Revolving LC (5) Back to front LC 29. Banks are required to maintain secrecy and confidentiality of customers’ accounts under (1) Indian Contract Act 1872 (2) Banker's Book Evidence 1891 (3) Consumer Protection Act, 1986 (4) Banking Regulation Act 1949 (5) Income Tax Act 1961 30. Which of the following authorities instructs a bank that funds held on behalf of debtor should not be released until directed by it ? (1) Reserve Bank of India (2) Banking Ombudsman (3) Court (4) Union Ministry of Finance (5) Cabinet Committee on Economic Affairs 31. Which Act has empowered the Reserve Bank of India to conduct the inspection of banks and regulate them in the interest of banking system ? iLearn Centre for Competitive Exams, Aurangabad. Contact – (0240) 6451577 / 6451588

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(1) Reserve Bank of India Act, 1934 (3) Negotiable Instruments Act, 1881 (5) Payment and Settlement Systems Act, 2007

(2) Banking Regulation Act, 1949 (4) Banking Supervision Act, 1956

32. Major portion of share capital in the case of Regional Rural Banks in India is held by (1) Indian Banking Association (2) Central Government (3) Reserve Bank of India (4) State government (5) Sponsor Bank 33. Which of the following statements sum up the features of a Debit Card ? (1) It is a plastic payment card (2) Payments using a debit card are immediately transferred from the cardholder's designated bank account (3) It is known as a bank card or check card (4) The debit card transactions are routed through the Visa or MasterCard networks (5) All of above 34. What does the letter 'S' stands for in BRICS (1) Sustainable (2) Sweden (3) Service

(4) South Africa

(5) Sales

35. Which of the following bodies is responsible for maintaining the Cash Reserve Ratio ? (1) All scheduled commercial banks (2) All Private Banks (3) Regional Rural Banks (4) Non-Banking Financial Companies (5) All of the above 36. Foreign Exchange Reserves in India are maintained and managed by (1) SEBI (2) RBI (4) Planning Commission (5) Union Ministry of commerce 37. Which of the following is not a Credit rating agency of India ? (1) CIBIL (2) ICRA Limited (3) Fitch 38. With which institution is the TransUnion Score associated ? (1) Educational institutions (2) Credit Institutions (4) Forex Institutions (5) None of these

(3) IRDA

(4) Onicra

(5) Experian

(3) Legal Institutions

39. A cheque which bears the word "Not Negotiable" between the two parallel lines is considered as a (1) Uncrossed cheque (2) Truncated cheque (3) Valid cheque (4) Crossed cheque (5) Post-dated cheque 40. To which of the following clients of the Reserve Bank of India does its rates (Bank Rate and Repo rate) apply ? (1) Union Government (2) State Government (3) NABARD (4) NBFCs (5) All of the above

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ANSWERS WITH EXPLANATIONS 1. (4) Savings bank interest, at present, is calculated based on the daily balance method. This means that a customer will earn interest based on the closing balance he maintains every day, giving him the maximum benefits. This system was implemented by the Reserve Bank of India from April 2010. 2. (2) Bailment is a contract for delivering goods by one party to another to be held in trust for a specific period and returned when the purpose is ended. So, when a customer gives a sealed box to the bank for safe keeping, the customer becomes the bailor, and the bank became the bailee. 3. (4) Current Accounts / Savings Accounts which have not been operated for a period of two years are classified as 'unclaimed.' They are levied a charge as per the current Tariff of the bank. 4. (5) 5. (1) NABARD shares with the Reserve Bank of India certain supervisory functions in respect of cooperative banks and Regional Rural Banks (RRBs). It undertakes inspection of Regional Rural Banks (RRBs) and Cooperative Banks (other than urban / primary cooperative banks) under the provisions of Banking Regulation Act, 1949. 6. (4) Basel II uses a "three pillars" concept - (1) minimum capital requirements (addressing risk), (2) supervisory review and (3) market discipline. Generally speaking, these rules mean that the greater risk to which the banks is exposed, the greater the amount of capital the bank needs to hold to safeguard its solvency and overall economic stability. 7. (3) According to the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 a micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh. A small enterprise is an enterprise where the investment in plant and machinery is more than Rs. 25 lakh but does not exceed Rs. 5 crore. 8. (4) Public Provident Fund Account is a Long Term Debt Scheme of the Government of India on which regular interest is paid. The maturity period is 15 years from the close of the financial year in which the initial subscription was made. It can be closed at any time after the expiry of 15 years from the date on which it was opened. 9. (2) 10. (3) Retail loans include residential mortgages, consumer credit cards, automobile and personal loans, loans against securities, and small business loans. The share of housing loans in total bank credit or retail loan has been over 50 per cent since the last 10 years. 11. (1) 12. (4) 13. (3) Banks were advised in November 2005 to make available a basic banking 'no-frills' account either with 'nil' or very low minimum balance as well s charges that would make such accounts accessible to vast sections of population. RBI asked banks to provide zero balance facility in the basic banking accounts along with ATM-cum-debit cards without any extra charge. 14. (3) 15. (3) As per RBI guidelines, with effect from April 1, 2012, the validity period of Cheques, Demand Drafts, Pay Orders and Banker's Cheques was reduced from 6 months to 3 months. The step was taken as some people were iLearn Centre for Competitive Exams, Aurangabad. Contact – (0240) 6451577 / 6451588

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taking undue advantage of the long validity period and circulating these instruments in the market like cash for six months. 16. (4) 17. (3) Truncation is the process of stopping the flow of the physical cheque issued by a drawer at some point with the presenting bank en-route to the drawee bank branch. With amendments in the Sections 6 and 1(4), coupled with the introduction of 81 A to the Negotiable Instruments Act, 1881, truncation of cheques is now legalized. 18. (1) 19. (5) 20. (4) Electronic Clearing Service (ECS) is an electronic mode of payment / receipt for transactions that are repetitive and periodic in nature. ECS is used by institutions for making bulk payment of amounts towards distribution of dividend, interest, salary, pension, etc. It facilitates bulk transfer of monies from one bank account to many bank accounts or vice versa. 21. (1) There are eight Indian Income Tax Return (ITR) forms. Depending on the various streams of income a person had, he has to select the form accordingly. For example, if he has income from salary, pension and interest income, then ITR-1 is the form for him. If he has capital gains or rental income, then he needs to fill ITR-2. 22. (4) 23. (4) 24. (2) There are twelve currencies of the European Union as of 2013, the principal currency being the Euro. The Euro is used by the institutions of the European Union and by the Eurozone states, which account for 17 of the 28 member states of the European Union. 25. (3) Under the PSs Act, 2007, dishonour of an electronic fund transfer instruction due to insufficiency of funds in the account etc., is an offence punishable with imprisonment or with fine or both, similar to the dishonour of a cheque under the Negotiable Instruments Act, 1881, Subject to complying with the procedures laid down under the PSS Act, 2007, criminal prosecution of defaulter can be initiated in such cases. 26. (5) 27. (3) Under Electronic Clearing Service or ECS (Credit) one entity / company would make payments form its bank account to a number of recipients by direct credit to their bank accounts. For instance, companies make use of ECS (Credit) to make periodic dividend / interest payments to their investors. Similarly, employers like banks, government departments, etc. make monthly salary payments to their employees through ECS (Credit). 28. (4) when a letter of credit (L/C) is specifically designated "revolving letter of credit", the amount involved when utilized is reinstated, that is, the amount becomes available again without issuing another L/C and usually under the same terms and conditions. The revolving L/C may be used in shipments of a wide range of goods to a buyer within a period of time (several months to one year usually) 29. (3) The Consumer Protection Act, 1986 defines the rights of consumer in India and is applicable to banking services as well. Under this Act, Banks are required to maintain secrecy and confidentiality of customer's accounts.

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30. (3) Garnishee order is court order instructing a bank that funds held on behalf of a debtor should not be released until directed by the court. The order may also instruct the bank to pay a given sum to the judgement creditor from these funds. 31. (2) 32. (2) Regional Rural Banks (RRBs) are jointly owned by Government of India, the concerned State Government and Sponsor Banks (27 scheduled commercial banks and one State Cooperative Bank). The he issued capital of a RRB is shared by the owners in the proportion of 60 per cent, 20 per cent, 20 per cent. 33. (5) The debit card therefore is mostly used for ATM transactions. Most of the banks issue Visa debit cards, while some banks (like SBI and Citibank India) issue Maestro cards. The debit card transactions are routed through the Visa or MasterCard networks rather than directly via the issuing bank. 34. (4) BRICS is the acronym for an association of five major emerging national economies ; Brazil, Russia, India, China and South Africa. The grouping was originally known as "BRIC" before the inclusion of South Africa in 2010. 35. (1) 36. (2) The Reserve Bank of India manages and maintains the foreign exchange reserve of India under the Foreign Exchange Management Act, 1999. It serves to facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India. 37. (3) Fitch Ratings is a global rating agency dedicated to providing value beyond the rating through objective and balanced credit opinions, research and data. Fitch Ratings is dual-headquartered in New York, USA, and London, UK. Fitch, Moody's and Standard & Poor's are collectively known as the "Big Three credit rating agencies." 38. (2) 39. (4) A Cheque is crossed generally when : (a) It has to transverse parallel lines marked across its face; or (b) It bears abbreviation "& Co." between the transverse parallel lines ; or (c) It bears the word "Not Negotiable" between the two parallel lines. A cheque crossed generally will be paid to the banker through which it is presented. 40. (5) The clients of the Reserve Bank of India are Union Government, State Government, NABARD, Commercial Banks and Non-Banking Financial Companies (NABFCs). Bank Rate, Repo Rate and Reverse Repo Rate applies to all clients of RBI. The CRR, SLR applies to Commercial Banks (including Urban Cooperative banks but excluding Regional Rural Banks).

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BASIC SAVINGS BANK DEPOSIT ACCOUNT Whether the guidelines issued on ‘no-frills’ account with 'nil' or very low minimum balances will continue even after the introduction of ‘Basic Savings Bank Deposit Account’? No. In supersession of instructions contained in RBI’s earlier circular on No Frill accounts, banks have now been advised to offer a 'Basic Savings Bank Deposit Account' to all their customers vide a new circular dated August 10, 2012, which will offer minimum common facilities as stated therein. Banks are required to convert the existing 'nofrills' accounts’ into 'Basic Savings Bank Deposit Accounts'. Can an Individual have any number of 'Basic Savings Bank Deposit Account' in one bank? No. An individual is eligible to have only one 'Basic Savings Bank Deposit Account' in one bank. Whether a 'Basic Savings Bank Deposit Account' holder can have any other saving account in that bank? Holders of 'Basic Savings Bank Deposit Account' will not be eligible for opening any other savings account in that bank. If a customer has any other existing savings account in that bank, he / she will be required to close it within 30 days from the date of opening a 'Basic Savings Bank Deposit Account'. Can an individual have other deposit accounts where one holds 'Basic Savings Bank Deposit Account’? Yes. One can have Term/Fixed Deposit, Recurring Deposit etc. accounts in the bank where one holds 'Basic Savings Bank Deposit Account'. Whether the ‘Basic Savings Bank Deposit Account’ can be opened by only certain types of individuals like poor and weaker sections of the population? No. The 'Basic Savings Bank Deposit Account' should be considered as a normal banking service available to all customers, through branches. Whether there are any restrictions like age, income, amount, etc. criteria for opening BSBDA by banks for individuals? No. Banks are advised not to impose restrictions like age and income criteria of the individual for opening BSBDA. Is the 'Basic Savings Bank Deposit Account' a part of the Financial Inclusion plans of banks? The aim of introducing 'Basic Savings Bank Deposit Account' is very much part of the efforts of RBI for furthering Financial Inclusion objectives. All the accounts opened earlier as 'no-frills' account should be renamed as BSBDA and all the new BSBDA accounts opened now should be reported under the monthly report of the progress of Financial Inclusion plans submitted by banks to RBI. What are KYC norms applicable to BSBDA accounts? Are there any relaxations in KYC norms for BSBDAs? The 'Basic Savings Bank Deposit Account' would be subject to provisions of PML Act and Rules and RBI instructions on Know Your Customer (KYC) / Anti-Money Laundering (AML) for opening of bank accounts issued from time to time. BSBDA can also be opened with simplified KYC norms. However, if BSBDA is opened on the basis of Simplified KYC, the accounts would additionally be treated as “BSBDA-SMALL account” and would be subject to the conditions stipulated by RBI for such accounts. What are the conditions stipulated for accounts which are additionally to be treated as ‘BSBDA-Small Account’? As notified in terms of Govt. of India notification dated December 16, 2010, BSBDA-Small Accounts would be subject to the following conditions: iLearn Centre for Competitive Exams, Aurangabad. Contact – (0240) 6451577 / 6451588

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(1) Total credits in such accounts should not exceed one lakh rupees in a year. (2) Maximum balance in the account should not exceed fifty thousand rupees at any time (3) The total of debits by way of cash withdrawals and transfers will not exceed ten thousand rupees in a month (4) Foreign remittances cannot be credited to Small Accounts without completing normal KYC formalities (5) Small accounts are valid for a period of 12 months initially which may be extended by another 12 months if the person provides proof of having applied for an Officially Valid Document. (6) Small Accounts can only be opened at CBS linked branches of banks or at such branches where it is possible to manually monitor the fulfilments of the conditions What kinds of services are available free in the 'Basic Savings Bank Deposit Account’? The services available free in the 'Basic Savings Bank Deposit Account’ will include deposit and withdrawal of cash; receipt / credit of money through electronic payment channels or by means of deposit / collection of cheques at bank branches as well as ATMs. Is there requirement of any initial minimum deposit while opening a BSBDA as per the circular dated August 10, 2012? There is no requirement for any initial deposit for opening a BSBDA. Whether banks are free to offer more facilities than those prescribed for ‘Basic Savings Bank Deposit Account’? Yes. However, the decision to allow services beyond the minimum prescribed has been left to the discretion of the banks who can either offer additional services free of charge or evolve requirements including pricing structure for additional value-added services on a reasonable and transparent basis to be applied in a non-discriminatory manner with prior intimation to the customers. Banks are required to put in place a reasonable pricing structure for value added services or prescribe minimum balance requirements which should be displayed prominently and also informed to the customers at the time of account opening. Offering such additional facilities should be non discretionary, non-discriminatory and transparent to all ‘Basic Savings Bank Deposit Account’ customers. However such accounts enjoying additional facilities will not be treated as BSBDAs. If BSBDA customers have more than 4 withdrawals and request for cheque book at additional cost, will it cease to be a BSBDA? Yes. Please refer to the answer of the above question. However, if the bank does not levy any additional charges and offers more facilities free than those prescribed under BDBDA accounts without minimum balance then such accounts can be classified as BSBDA. Whether the existing facility available in a normal saving bank account of five free withdrawals in a month in other banks ATMs as per IBA (DPSS) instructions will hold good for BSBDA? No. In BSBDA, banks are required to provide free of charge minimum four withdrawals, through ATMs and other mode including RTGS/NEFT/Clearing/Branch cash withdrawal/transfer/internet debits/standing instructions/EMI etc. It is left to the banks to either offer free or charge for additional withdrawals. However, in case the banks decide to charge for the additional withdrawals, the pricing structure may be put in place by banks on a reasonable, nondiscriminatory and transparent manner by banks. iLearn Centre for Competitive Exams, Aurangabad. Contact – (0240) 6451577 / 6451588

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Are the banks free to levy Annual ATM Debit Card charges? Banks should offer the ATM Debit Cards free of charge and no Annual fee should be levied on such Cards. Whether Balance enquiry in ATMs also should be counted within the four withdrawals permitted under BSBDA? Balance enquiry through ATMs should not be counted in the four withdrawals allowed free of charge at ATMs. If a customer of BSBDA agrees not to have ATM Debit card should the bank give ATM debit card by force? ATM debit cards may be offered at the time of opening BSBDA and issued if the customer requests for the same in writing. Banks need not force ATM debit cards on such customers. What about customers who are illiterate or old who may not be in a position to safe keep and use the ATM debit card and PIN associated with it? Banks while opening the BSBDA should educate such customers about the ATM Debit Card, ATM PIN and risk associated with it. However, if customer chooses not to have ATM Debit Card, banks need not force ATM debit cards on such customers. If, however, customer opts to have an ATM Debit card, banks should provide the same to BSBDA holders through safe delivery channels by adopting the same procedure which they have been adopting for delivery of ATM Debit card and PIN to their other customers. Whether Passbooks are also to be offered free to BSBDA holders? Yes. BSBDA holders should be offered passbook facility free of charge. If a customer opens a BSBDA but does not close his existing Savings Bank Account within 30 days, are banks then free to close such savings bank accounts? While opening the BSBDA customers’ consent in writing be obtained that his existing non-BSBDA Savings Banks accounts will be closed after 30 days of opening BSBDA and banks are free to close such accounts after 30 days. In certain accounts like NREGA where disbursements are made weekly and if a month has five weeks, it may result in more than four withdrawals. In such cases can banks permit five withdrawals? In BSBDA, banks are required to provide free of charge minimum four withdrawals, including through ATM and other mode. Beyond four withdrawals, it is left to discretion of the banks to either offer free or charge for additional withdrawal/s. However pricing structure may be put in place by banks on a reasonable, non-discretionary, nondiscriminatory and transparent manner by banks. What is the prescribed rate of interest payable on balances in such ‘Basic Savings Bank Deposit Account’? RBI’s instructions on “Deregulation of Savings Bank Deposit Interest Rate”, are applicable to deposits held in ‘Basic Savings Bank Deposit Account’. If “ payable at par” / “multi-city” cheques are issued to BSBDA customers based on their request, can banks prescribe minimum balance requirements? BSBDA does not envisage cheque book facility in the minimum facilities that it should provide to BSBDA customers. They are free to extend any additional facility including cheque book facility free of charge (in which case the account remains BSBDA) or charge for the additional facilities (in which case the account is not BSBDA). What is the definition of “Basic Savings Bank Deposit Account”(BSBDA)? All the existing ‘No-frills’ accounts opened pursuant to guidelines issued vide circular DBOD. No. Leg. BC. 44/09.07.005/2005-06 dated November 11, 2005 and converted into BSBDA in compliance with the guidelines iLearn Centre for Competitive Exams, Aurangabad. Contact – (0240) 6451577 / 6451588

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issued in circular DBOD.No.Leg.BC.35/09.07.005/20012-13 dated August 10, 2012 as well as fresh accounts opened under the said circular should be treated as BSBDA. Accounts enjoying additional facilities under the reasonable pricing structure for value added services, exclusively for BSBDA customers should not be treated as BSBDAs. What is the time frame available to banks for converting “No-Frills” Account as Basic Savings Bank Deposit Account? What is the time frame available to banks for issuing ATM Cards to all the existing Basic Savings Bank Deposit Account holders? All the existing “No-Frill” accounts may be treated as BSBDA accounts from the date of RBI’s circular i.e., August 10, 2012 and banks may offer the prescribed facilities as per the circular such as issuing ATM card etc., to the existing ‘No-Frill’ account holders as and when the customer approaches the bank. However, for customers opening new accounts after the issue of our circular should be provided with the prescribed facilities immediately on opening of the account. Whether the normal saving bank account can be converted into BSBDA at the request of customer? Yes. Such customers should give their consent in writing and they should be informed of the features and extent of services available in BSBDAs. Whether Foreign Banks in India are also required to open BSBDA for customers? Whether Circular dated August 10, 2012 on BSBDA is applicable to Foreign Banks having branches in India? RBI instructions/guidelines contained in circular dated August 10, 2012 on BSBDA is applicable to all scheduled commercial banks in India including Foreign Banks having branches in India.

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October GK