1-Under Core Banking Solution (CBS) customers may access their bank account and perform basic transactions from any of the member branch office.
2-RBI (Reserve Bank of India) controls the Monetary Policy in India.
3-Current Account deficit- A measurement of a country’s trade in which the value of goods and services it imports exceeds the value of goods and services it exports.
4- RuPay Card card is issued by NPCI (National Payments Corporation of India.
5- Exchange of cash flow in different currency is known as Currency Swap.
6-Full form IFSC is Indian Financial System Code
7-Assets or loans which stop performing after 90 days is known as Non Performing Asset (NPA).
8-AML- Anti Money Laundering- It is a term mainly used in the financial and legal industries.
9-PIN is a number allocated to an individual and used to validate electronic transactions.
10-Bancassurance -It is the selling of life assurance and other insurance products and services by banking institutions.
11- What does CAR stands for? – Capital Adequacy Ratio
12-Minimum capital requirement for Foreign banks that want to set up operations in India is Rs. 500 crore.
13- A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956.
14-ATMs or Cash Dispensing machine which are owned and operated by Non-Banking Financial Companies are called White Label ATMs.
15-Full form of CASA – Current Account Saving Account.
16-If any customer is not satisfied by the decision of Banking Ombudsman, customer can appeal against the award before the appellate authority within 30 days from the date of receipt.
17-IMPS – Immediate Payment Service is an interbank electronic instant mobile money transfer service through mobile phones in India, the facility is provided by NPCI (National Payment Corporation of India).
18-Full form of REIT is Real State Investment Trust.
19-Mutual funds regulated by SEBI (Securities and Exchange Board of India).
20-What is the full form of MTSS? – Money Transfer Service scheme