BANKING ABBREVIATION BASED QUESTIONS for promotion and jaiib exam

Important Banking Awareness Questions 🌹🌹
👇👇👇👇 #Banking Abbreviations Part – V
1). In EFT, “T” stands for- Transfer
2). In FEMA, “E” stands for – Exchange
3). In ICRA, “R” stands for – Rating
4). In IFCI, “F” stands for – Finance
5). In MIGA, “G” stands for – Guarantee
6). In FERA, “R” stands for – Regulatory
7). In NASDAQ, “S” stands for – Securities
8). In NECS, “C” stands for – Clearing
9). In SWOT, “O” stands for – Opportunities
10). NHM stands for – National Health Mission
11). NSDC stands for – National Skill Development Corporation
12). NHAI stands for – National Highways Authority of India
13). NPS stands for – National Pension System
14). FTA stands for – Free Trade Agreement
👇👇👇👇 Reserve Bank of India Sections – Part I
15). Section 3 of Reserve Bank of India defines – Establishment and incorporation of Reserve Bank
16). Section 4 of Reserve Bank of India defines – Capital of the Bank. The capital of the Bank shall be five crores of rupees.
17). Section 6 of Reserve Bank of India defines – Establishment of Offices, branches and agencies
18). Section 8 of Reserve Bank of India defines – The composition of central board of Reserve Bank of India
19). Section 17 of Reserve Bank of India defines – The business that RBI can carry out
20). Section 20 of Reserve Bank of India defines – Obligation of the Bank to transact Government business
21). Section 21 of Reserve Bank of India defines–  Bank to have the right to transact Government business in India
22). Section 21 (A) of Reserve Bank of India defines – Bank to transact Government business of States on agreement
23). Section 22 of Reserve Bank of India defines – Right to issue bank notes
24). Section 24 of Reserve Bank of India defines – Denominations of notes
25). Section 26 (1) of Reserve Bank of India defines – Defines legal tender of notes
26). Section 26 (2) of Reserve Bank of India defines – Withdrawal of legal tender of notes
27). Section 27 of Reserve Bank of India defines – The Bank shall not re-issue bank notes which are torn, defaced or excessively soiled.

28). Section 42 of Reserve Bank of India defines – Cash reserves of scheduled banks to be kept with the Bank.
29). Section 45 (U) of Reserve Bank of India defines – Defines repo, reverse repo, derivative, money market instruments and securities.

👇👇👇👇 Banking Committee– Part I
30). _____Committee related to Non-Banking Financial Company – A C Shah Committee
31). _Committee related toFrauds& Malpractices in Banks – A Ghosh Committee
32). ___Committee related toInstitutional Credit for Agricultural& Rural Development – B Sivaraman Committee
33). _____Committee related toStock Lending Scheme – BD Shah Committee
34). ____Committee related toMulti Agency Approach in Agricultural Finance – CE Kamath Committee
35). ____Committee related toMutual Funds (Functioning) – Dave Committee
36). ____Committee related toRural Finance – Godwala Committee
37). ____Committee related toReforms in Insurance Sector – J Reddy Committee
38). ____Committee related toSecurities Transactions of Banks& Financial Institutions – Jankiramanan Committee
39). ____Committee related toEducation Loan Scheme – Kamath Committee
40). ___Committee related toNon Performing Assets – Khanna Committee
41). ___Committee related to Financial Derivatives – LC Gupta Committee
42). ____Committee related toAgricultural Credit– Khusrau Committee
43). ___Committee related toSingle Window System – Mahadevan Committee
44). ____Committee related toComputerization of Banking Industry – Rangrajan Committee
👇👇👇 Banking Terminology – Part I
45).  _____is the distribution of insurance products and the insurance policies of insurance companies by banks as corporate agents through their branches – Bancassurance

46). When an account has insufficient funds the cheque is not payable and is returned by the bank with a reason “Exceeds arrangement” or “funds insufficient” is called – Bouncing of a cheque