BankExamsToday Express Bites: Part 22

• LP. Parthasarathi committee is a committee on data standardization. 
• DICGC (Deposit Insurance and Credit Guarantee Corporation) is a subsidiary of Reserve Bank of India, headquartered in Mumbai. It provides insurance of deposits and guaranteeing of credit facilities. 
• Bearer cheque refers to a cheque that is payable to whoever presents the cheque. 
• Hyper Inflation is the extremely rapid escalation of prices for goods and services. 
• The full form of NMCEX is National Multi Commodity Exchange. 
• Depreciation- amounts charged to provide for the part of thd cost or book value of a fixed asset, which is not recoverable when it is finally put out of use. 
• Term loan is a bank advance for a specific period, normally three to ten years. It is repaid with interest usually by regular periodical payments. 
• When articles of value like jewellery, wills, government bonds or other documents or articles are given to a bank for safe keeping under mutually agreed terms in its safe vault is called safe custody. Bank charges a fee from its clients for such safe custody. 
• Quick assets refers to assets which are liquid or nearly liquid in nature and easily be turned into cash. 
• Prime rate is the rate on which each bank fixes its own prime lending rate for advances. 
• Mutilated bank note is a bank note of which a portion is missing or which is composed of more than two pieces. 
• Bank of Baroda established in 1908 in the princely state of Baroda was founded by Maharaja Sayaji Rao-III, nationalised in 1969. It is headquartered in Baroda (Gujarat). Slogan is India’s International Bank. 
• The first Indian bank to have been started solely with Indian capital is Punjab National Bank. It is formed on the efforts of Lala Lajpat Rai.

Test Your Memory Take Quiz

LP. Parthasarathi committee is a committee on/to

a. banking sector reforms

b. data standardisation

c. dissemination of credit information

d. rationalisation of foreign investment norms

data standardisation

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The headquarter of DICGC (Deposit Insurance and Credit Guarantee Corporation) is located in

a. Mumbai

b. Delhi

c. Chennai

d. Hyderabad

Mumbai

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EX in NMCEX refers to

a. Exalter

b. Expedition 

c. Export

d. Exchange

Exchange

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_________ is a bank advance for a specific period, normally three to ten years.

a. Auto Loans

b. Term Loan

c. Payday Loans

d. Consolidated Loan

Term Loan

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_________ refers to assets which are liquid or nearly liquid in nature and easily be turned into cash. 

a. Quick Assets

b. Operating Assets

c. Current Asset

d. Tangible Assets

Quick Assets

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___________ is the rate on which each bank fixes its own prime lending rate for advances.

a. Call rate

b. Bank rate

c. Repo rate

d. Prime rate

Prime rate

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The first Indian bank to have been started solely with Indian capital is

a. Punjab National Bank

b. Bank of Baroda

c. State Bank of Patiala

d. Indian Bank

Punjab National Bank

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In which years was Bank of Baroda established?

a. 1912

b. 1908

c. 1904

d. 1916

1908

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