Daily Banking Awareness Points to Remember

Banking Awareness Important Points
Dear Readers,
Welcome to Banking Awareness section. Here I am presenting some important points to be remembered on banking awareness for upcoming exams like SBI PO, IBPS PO and other exams. Kindly make use of these!!!

1. Banking Ombudsman is appointed by Reserve Bank of India
2. Maximum age for retirement for MD/CEO of all private banks is 70 years
3. 'Financial Exclusion' is Lack of Access to Financial Services
4. Mutual Funds are regulated by Securities and Exchange Board of India
5. To solve the problems of Balance of Payments of member countries is function of International Monetary Fund
6. Regulatory Authority for Regional Rural Bank is of RBI and NABARD
7. The instrument can-not be presented for the payment in the Clearing House is Fixed Deposit Receipt
8. Apex institution which handles refinance for agriculture and rural development in India is NABARD
9. First Multi-currency international Debit Cards are issued in India by State Bank of India
10. The Foreign Exchange Reserves of India are kept in the custody of Reserve Bank of India
11. "Bank of Rajasthan" merged with ICICI Bank
12. 'Drawer' in the bank cheques is who issues the cheque
13. 'Drawee' in the bank cheque is Always the Banker
14. The first bank to set up talking ATM in India is Union Bank
15. During the period of Inflation, tax rates should Increase
16. Biggest tax paying sector in India is Industrial Sector
17. Insurance sector is regulated by: IRDA (Insurance Regulatory and Development Authority)
18. The merchant banking activities in India are governed by SEBI
19. State Bank of India comes in to existence in the year 1955
20. "Hum Hai Na" is slogan of ICICI Bank