october gk

iLearn Centre for Competitive Exams, Aurangabad. Contact – (0240) 6451577 / 6451588

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

ONLINE EXAM PATTERN OF IBPS CLERK CWE III

Sr. No. Section Max. Marks Total Time

1 Reasoning 40

2 HOURS

2 English Language 40

3 Numerical Ability 40

4 General Awareness (with special reference to Banking Industry) 40

5 Computer Knowledge 40

TOTAL 200

" " !

भ !

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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 (4) Montek Singh

Ahluwalia

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 (3) South East Asia (4) Southern

Argentina

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


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


23) Arundhati Bhattacharya took charges as first women chairperson of

(1) ONGC (2) CBI (3) NABARD (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 (3) Ranchi, Jharkhand (4) Amethi, Uttar

Pradesh


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


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 (3) Philippines – Nari (4) Indonesia –

Sandy

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


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


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


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 (4) Roberto Carlos

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 (4) Mahendra Singh

Dhoni

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


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


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 (4) Anchal Joseph

76) Who is the winner of the women’s Luxembourg Open Tennis title 2013?

(1) Caroline Wozniacki (2) Annika Beck (3) Simona Halep (4) Svetlana

Pironkova

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


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) (4) Bandar Seri

Begawan (Brunei)

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?


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 (3) Science & Technology (4) New &

Renewable Energy


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 (4) Bharat Anna

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) 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?


(1) Mukesh Ambani, Lakshmi Mittal and Azim Premji (2) Mukesh Ambani, Azim Premji and Lakshmi Mittal

(3) Lakshmi Mittal, Mukesh Ambani and Dilip Shanghvi (4) Mukesh Ambani, Lakshmi Mittal and Dilip

Shanghvi

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


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


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 (3) Author (4) Classical singer

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 (4) Science &

Technology

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


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?


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 (4) Manmohan

Singh


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


ANSWERS FOR CURRENT AFFAIRS Q & A

Q. No. Answer

Q. No. Answer

Q. No. Answer

Q. No. Answer

1 1

42 1

83 4

124 1

2 4

43 3

84 4

125 4

3 3

44 1

85 2

126 1

4 3

45 2

86 3

127 2

5 2

46 3

87 1

128 3

6 4

47 1

88 4

129 2

7 4

48 3

89 4

130 3

8 2

49 2

90 4

131 2

9 3

50 2

91 4

132 3

10 1

51 1

92 4

133 3

11 1

52 2

93 4

134 3

12 3

53 2

94 3

135 1

13 1

54 2

95 3

136 2

14 3

55 1

96 2

137 3

15 2

56 1

97 1

138 2

16 2

57 1

98 1

139 1

17 2

58 2

99 3

140 2

18 4

59 1

100 2

141 2

19 4

60 2

101 1

142 1

20 4

61 1

102 2

143 3

21 2

62 1

103 1

144 3

22 1

63 2

104 3

145 1

23 4

64 2

105 3

146 2

24 3

65 2

106 4

147 3

25 4

66 4

107 2

148 1

26 1

67 1

108 3

149 3

27 2

68 2

109 2

150 2

28 3

69 1

110 4

151 3

29 3

70 1

111 2

152 2

30 3

71 2

112 1

153 3

31 4

72 1

113 3

154 1

32 3

73 2

114 1

155 1

33 3

74 2

115 2

156 2

34 3

75 2

116 1

157 2

35 3

76 1

117 1

158 3

36 1

77 2

118 3

159 2

37 4

78 2

119 2

160 2

38 3

79 1

120 2

161 1

39 1

80 1

121 2

162 3

40 3

81 4

122 1

163 3

41 2

82 3

123 2

164 3

165 2


QUESTIONS ASKED IN RECENT IBPS EXAMS

IBPS PO III (19th, 20th, 26th & 27th October) Source: www.bankersadda.com

1. Full Form of IBSA?

India, Brazil, South Africa

2. Who has directed the Bollywood film The

Lunchbox?

Ritesh Batra

3. According to 2011 census which state has highest

Rural Population?

Uttar Pradesh (15.51 crore- 18.16% of India’s Rural

Population)

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

Marion Bartoli

5. Who is the Head of WTO?

Robert Azevedo

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

9%

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

Yann Martel

8. International Children's Peace Prize 2013 was

awarded to?

Malala Yousafzai

9. Limit of educational loans under priority sector?

10 lakh for studies in India and 20 lakh for studies

abroad

10. Senior citizens can invest up to under Senior

Citizens Saving Scheme?

15 lakh

11. Duration of 12th five year plan?

2012-2017

12. Full Form of FTP?

File Transfer Protocol

13. GDP Growth rate of India as per Central Statistics

Office (CSO) for 2013?

4.4%

14. Full form of CDS?

Credit Default Swap

15. Fairfax group head who brought blackberry?

Prem Watsa

16. Gujar Mal Modi award winner 2013?

Vinod Prakash Sharma

17. Bank which has headquarters in Bangalore?

Vijaya Bank

18. Aadhaar Bill name?

UIDAI bill

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

Germany

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

3.8%

21. CRR changed to?

4%

22. Who among the following is chairman FMC

(Forward Markets Commission)?

Ramesh Abhishek

23. What is the name of food grain scheme of

Himachal Pradesh?

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

26. Who among the following is the new chairman of

AADHAR?

Nandan Nilekani

27. Full form of NOFHC

Non Operative Financial Holding Company


28. India’s place in global competitive list by WEF

2012-13?

59

29. Which of the following is the population growth

rate (2001-2011)?

1.7%

30. Graphic biography of whom released by Amar

Chitra Katha?

Dhyan Chand

31. Bank rate wef 7th October

9%

32. The book ‘Fault lines’ is written by whom?

Raghuram G Rajan

33. Which of the following Bank open 15000

branches?

SBI

34. Which of the following country in BRICS?

Brazil, Russia, India, China, South Africa

35. Rajiv Gandhi Sadbhavana Award ?

Ustad Amjad Ali Khan

36. One question related to INS VIKRANT.

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 %

40. According to MSMED Act 2006,maximum limit in

services is 5 crore .what is minimum limit for medium

enterprises?

2 crore

41. Who is the First women chief information

commissioner?

Deepak sandhu

42. Sundarban located in which state?

West Bengal

43. Best Foreign Language Film at the 86th Academy

Awards(From India)

The Good road

44. Which scheme was started by Himachal Pradesh

under food security program from Sept 20?

Rajiv Gandhi Anna Yojana

45. Iran’s New President?

Hassan Rouhani

46. India inked DTA pact with which country?

Morocco

47. Company Bill 2013

48. Decadal Growth Rate according to Census 2011?

17.64%

49. Indira Gandhi peace prize was conferred on?

Ellen Johnson Sirleaf

50. World heart day?

29th September

51. Who monitors 5year plan?

Yojana Ayog

52. Which company has launched Jupiter Bike?

TVS

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

56. New High Commissioner to UK?

Ranjan Mathai

57. UN Representative of India?

Asoke Kumar Mukerji

58. Nobel Peace Prize in Economics: Eugene F. Fama

(and Robert J. Shiller and Lars Peter Hansen)

59. Nikkei is the stock exchange of which country?

Japan


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


91. The book ‘My Journey: Transforming Dreams Into

Actions’ is written by?

APJ Abdul Kalam

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

David O. Russel

93. Germany Chancellor?

Angela Merkel

94. Which one is not Credit Rating Agency?

95. Tennis Hall of Fame

Martina Hingis

96. FTSE 100?

London Stock Exchange

97. FDI in pension sector?

49%

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

Kharif Crop

99. India’s Defense satellite recently launched by

France?

GSAT-7

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

102. India- China defence summit held in

Beijing

103. KYC is not for the purpose of

financial position of the account holder

104. RBI 0 % EMI on credit card related question

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

108. NEFT maximum limit? No limit

109. One question on Prithvi-2

110. Currency swap agreement between?

India and Japan

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

112. Deep discount bond feature?

Zero coupon bond

113. First cyber forensic laboratory set up in?

Tripura

114. If depreciation of assets is not taken into account

what will happen to balance sheet of bank?

115. Trade deficit was how much low as on

September?

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)

117. Full form of SLR

Statutory Liquidity Ratio

118. Bank Rate on 20th September 2013

9.50%

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

Loss

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

90 days

121. SARFAESI Act for

Asset Reconstruction, Recovery of debt

122. Which of the following terms is related to

cricket?

T20

123. Tagore Award 2013 for cultural harmony

Zubin Mehta


124. Father of mouse

Douglas Engelbart

125. MICR stands for

Magnetic Ink Character Recognition

126. 28th Prime Minister of Australia

Tony Abbot

127. CCTV stands for

Closed Circuit Television

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

141. Fiscal Deficit target

4.8%

142. Microprocessor manufacturing company

INTEL

143. Tablet produced by Microsoft

Surface

144. Raghuram Rajan’s recent monetary policy

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


156. Which book is not written by Chetan Bhagat

Two people

157. Who becomes the first Indian-origin Miss

America 2013?

Nina Davuluri

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

161. Which award given to Finance Minister P

Chidambaram by

Business Reformer Award

162. Balance Sheet indicates what?

Company's assets

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

172. “Bhaag Milkha Bhaag” actor?

Farhaan Akhtar

173. CEO of Women’s Bank

Usha Ananthasubramanian

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 ITA-

2000)

178. IFSC Code is needed in

Online or Net Banking Transaction

179. Who is the first Indian to win shooting

completion in world championship

Rahi Sarnobat

180. 726 MW ONGC power project in which North-

Eastern 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


186. International Women’s day?

8 March

187. GAAR full form

General Anti-Avoidance Rule

188. SAFTA full form

South Asian Free Trade Area (SAFTA)

189. Zimbabwe President

Robert G.Muagabe

190. The process of making blackmoney white

Money Laundering

191. Hassan Rouhani is the President of

Iran

192. Wheat , Bajra comes under

Kharif crop

193. New Director General of CPRF

Dilip Trivedi

194. Head-quarters of WTO

Geneva

195. Import duty on gold

15%


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 PHYSICS CHEMISTRY PHYSIOLOGY /

MEDICINE LITERATURE PEACE ECONOMICS

2013 François Englert

Peter Higgs

Martin Karplus

Michael Levitt

Arieh Warshel

James Rothman

Randy Schekman

Thomas Südhof

Alice Munro

Organisation for

the Prohibition

of Chemical

Weapons

(OPCW)

Eugene Fama

Lars Peter Hansen

Robert Shiller

2012 Serge Haroche

David Wineland

Brian Kobilka

Robert

Lefkowitz

John Gurdon

Shinya Yamanaka Mo Yan European Union

Alvin Roth

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


RBI’s Second Quarter Monetary Policy review

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 mid-

November

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 %


* 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


BANKING Q & A

1. Savings Banks interest is calculated on the basis of

(1) Minimum available balance (2) Bank's liquidity (3) Profitability preferences of a bank

(4) Daily balance method (5) None of these

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 (3) Contractionary policy

(4) Fiscal Policy (5) Credit 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 (3) Market discipline

(4) Thrift (5) All of the above

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 (5) Grihastha


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 (3) Ultra Simplified Banking

(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 (3) Embodied cognitive science

(4) Electronic Clearing Service (5) Extended Core Storage

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


(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 ?


(1) Reserve Bank of India Act, 1934 (2) Banking Regulation Act, 1949

(3) Negotiable Instruments Act, 1881 (4) Banking Supervision Act, 1956

(5) Payment and Settlement Systems Act, 2007

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 (3) IRDA

(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 (4) Onicra (5) Experian

38. With which institution is the TransUnion Score associated ?

(1) Educational institutions (2) Credit Institutions (3) Legal Institutions

(4) Forex Institutions (5) None of these

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


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


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.


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).


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 'no-

frills' 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:


(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, non-

discriminatory and transparent manner by banks.


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, non-

discriminatory 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


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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