Important For IBPS Clerk Exam : IFSC : • The full form of IFSC is – Indian Financial System Code • How many digits are contained in IFSC – 11 • The first four characters represent the – bank code • The 5th character of a IFSC code is - zero • The last 6 characters represent the – bank branch code • The IFSC code facilitates - uniquely identifies a bank-branch participating in the NEFT system KYC : • The full form of KYC is – Know Your Customer • KYC was introduced by – RBI • RBI introduced KYC guidelines for all banks in the year - 2002 • The components of KYC – Identity proof , address proof , photographs • The objective of KYC guidelines is – to prevent banks from criminal money laundering activities • KYC day is celebrated on – First working day of august every year NEFT : • The full form of NEFT is – National Electronic Fund Transfer • The minimum limit that could be transferred using NEFT – No Limit • The maximum limit that could be transferred using NEFT – No Limit • Can remittances be sent abroad using NEFT- No(except Nepal under the Indo-Nepal Remittance Facility Scheme) • Can NEFT be used to transfer funds from / to NRE and NRO accounts-Yes • Maximum amount per transaction for cash-based remittances to Nepal is limited to -Rs.50,000/- KISAN CREDIT CARD : • The full form of KCC – Kisan Credit Card • KCC scheme was intoduced by – GOI , RBI , NABARD • KCC scheme was introduced in the year – 1998 • The objective of KCC is – to fulfill the credit needs of farmers during cropping season through banking system. BSBDA: • The full form of BSBDA is – Basic Saving Bank Deposit Account • The BSBDA scheme is launched by – RBI • Who can open BSBDA - Any individual, including poor or those from weaker section of the society • BSBDA guidelines are applicable to -all scheduled commercial banks in India including foreign banks having branches in India. • As per guidelines issued on 22 august 2012 by RBI, all the existing No-frill accounts opened by the banks are now converted into – BSBDA • What is the initial minimum deposit required while opening a Basic saving bank deposit accounts – Zero Balance • How many Basic Savings Bank Deposit Account can an individual have in one bank – Only one • Whether there are any restrictions like age, income, amount etc criteria for opening BSBDA by banks – No • The BSBDA helps in promoting – Financial Inclusion
Posted on: Tue, 03 Dec 2013 12:31:45 +0000
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