Banking Awareness Questions What is an abbreviation of IFSC ?

1)What is the Cash Reserve Ratio that is  effective from September -22-2012?

A) 4.5%

2)RBI has made it mandatory for all banks to print following codes on Pass Book and Statement of account of the customers?

MICR Code and IFSC Code

3) What is an abbreviation of MICR ?

Magnetic Ink Character Recognition

4)What is an abbreviation of IFSC ?

Indian Financial System Code

5)As per RBI guidelines MICR code is necessary for?

MICR Code is Necessary for all electronic clearing services (Debit and Credit Card ) Transactions

6)IFSC Code is pre-requisite for?

National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement(RTGS) trasactions.

7)Which Card is First India's Domestic Card Payment Network set up by National Payment Corporation of India ?

RuPay Card

8)What is the main objective of RuPay Card?

Reduce overall transaction cost for the banks in India when compare with VISA Inc and Master Card

9)Woori Bank has set up its first Indian branch in Chennai .It is based in which of the following Asian Countries?

South Korea

10)FirstRand Bank belongs to which Country?

South Africa