Business/Economy -One Liners

1- In India, one rupee coins are issued by Govt. of India

2-When a bank returns a cheque unpaid, it is called dishonour of the cheque.

3-Banks in India are regulated under Banking Regulation Act, 1949

4-If a cheque is postdated, the bank on which it is drawn will not honour the cheque before the date of the cheque.

5- Demat Accounts- Accounts in which shares of various companies are traded in electronic form.

6-Regulator of Capital Market in India – SEBI

7-RBI nationalized in January 1, 1949

8-First Indian Bank to introduce credit card -Central Bank of India

9- RBI established in April1, 1935.

10-Loans of very small amounts given to low income groups is called Micro Credit

11-Banking sector falls under Service Sector

12-ASBA scheme is related to the purchase of IPO

13-Bad advances of a Bank are called Non – performing Asset

14-The term ‘pre – shipment’ finance relates to export credit

15-The sole authority to issue and manage currency in India- RBI

16- If a bank offers a slightly lower rate in the initial years and higher rate in later years, it is called a teaser loan.

17-Cheque which is not crossed is called Open cheque

18-The term ‘Smart Money’ refers to Credits Card

19-. Special Drawing Right (SDR) is a monetary unit of IMF

20- The Regulatory body for RRBs- NABARD