Financial Action Task Force (FATF) was founded by the G-7 countries in 1989 to develop and promote national and international policies to combat money laundering and terror financing. The membership of the FATF is limited to 35 countries at present. India has an observer status. India is a member of the Asia-Pacific Group, a FATF-style regional body. Membership of FATF will allow India easy access to real-time information on money laundering and terror financing and help to raise the diplomatic pitch against perpetrators. It will also make India more attractive in the eyes of global investors.
Archive for the ‘Economics’ category
Financial Action Task Force(FATF)
February 3rd, 201013th Finance Commission of India
February 3rd, 201013th Finance Commission
The 13th Finance Commission, which makes recommendations on sharing of tax revenues by the Centre and States, has suggested a new path for fiscal prudence in its report submitted to President Pratibha Devi Singh Patil on December 30, 2009.
The Commission was headed by Vijay Kelkar. Other members of the Commission were B.K. Chaturvedi, Indira Rajaraman, Atul Sarma and Sanjiv Misra.
The recommendations of the 13th Finance Commission, Finance Minister Pranab Mukherjee said “would get reflected in the 2010-11 Budget”.
The report, Kelkar said, dealt with the sharing of tax revenue between the Centre and States, distribution of funds among States and support to local bodies. The Finance Commission report assumes significance in view of the ongoing reforms in indirect and direct taxes, which will have a bearing on the tax collections.
Economics Quiz-Commonly Used Banking Terms
January 27th, 2010Banking Terms
1. Providing credit facilities by more than one banks for single party with formal agreement with each other. What is this concept called?
Consortium
2. Rate at which RBI purchases or rediscounts bills of exchange of
commercial banks. What this rate is called?
Bank Rate
3. An instrument in the form of depository receipt created by an Indian depository against underlying equity shares of the issuing company.
Indian Depository
4. An instrument that derives its value from a specified underlying [currency , Gold, stocks] etc. is called as ……..?
Hedge Fund
5. What is derived from total expenditure less total receipts excluding borrowing?
Fiscal Deficit
6. In the capital market , simultaneous purchase and sale of securities to reduce the loss on purchase is known as …..?
Arbitrage
7. Injecting liquidity by the central bank of a country through purchase of Govt. securities. What do we call this?
Reverse repo
8. What is used to manage cash flows in different currencies?
Currency Swap
9. Lending done by financing institutions including banks to customers not meeting with normally required credit appraisal standards. What do we call this?
Sub Prime
10. In instrument (bond) issued in a country other than the country of the currency of the bond. What type of bond is this?
Eurobond
11. What does Money Laundering includes?
placement, layering, integration of funds
12. Which organization is capital market regulator?
SEBI
13. What term is used for Money borrowed or lent for a day or overnight ?
Call Money
14 . Which bank uses punch line “India’s International Bank”
Bank of Baroda
15. Which bank uses punch line ” Trusted Family Bank”?
Dena Bank
16. What is NSCCL?
National Securities Clearing Corporation Ltd
17. In which year Bombay Stock Exchange was established?
1875
18. In which year NSE was established?
1994
19. Personal Finance is a part of Financial System in India. Is it true or false?
False, includes agricultural, industrial, government, development finance
20. Money lenders are part of scheduled banking in India. True or false?
False, Public sector, Pvt sector, Regional & Rural and State Cooperative banks
21. International Atomic Energy Agency provides a facility to help nations in enrichment of Uranium. What this concept has been named?
Nuclear Bank
22. An agreement in two parties to buy or sell an underlying asset in future
at a predetermined rate. What this agreement is called as?
Future Trading
23. Inflation is measured on basis of which index in India?
WPI wholesale price index
Economic Terms-Questions asked in Bank P O Exams
January 10th, 20101- The RBI Governor reviews the Annual Monetary and credit policy every time after a gap of ———months?
three
2- Reserve Bank of India keeps changing the ratio which regulates the minimum reserve each bank must hold to customer’s deposits. What this ratio called?
Cash Reserve Ratio
3- Which bank has the punchline”Much more to do with YOU in focus”?
Andhra Bank
4- A new field of banking system made up of large-scale banks that operate extensive networks of branches and provide different services. This new termed emerged in the banking field is —————?
Universal Banking
5- Providing credit and other financial services and products of very small amount to the poors in rural / semi-urban area is callled as …………..?
Micro Finance
6- What are Basel Norms?
Norms specially designed to control various risk factors in bank operations
Stock Exchanges in India
November 21st, 2009Recognised Stock Exchanges in India
| Name | Address |
| THE BOMBAY STOCK EXCHANGE | Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001. |
| The Ahmedabad Stock Exchange Association Ltd,. | Manek Chowk, Ahmedabad – 380 001 |
| BANGALORE STOCK EXCHANGE LTD,. | ‘M’ Block, First Floor, Unity Building, J.C. Road, Bangalore – 560 002. |
| BHUBANESHWAR STOCK EXCHANGE ASSN., LTD,. | 217,Budhraja Building, Jharpada Cuttack Road, Bhubaneswar, Orissa – 751 006. |
| THE CULCUTTA STOCK EXCHANGE ASSOCIATION LTD,. | 7, Lyons Range , Calcutta – 700 001. |
| COCHIN STOCK EXCHANGE LTD., | Veekshanam Road P.B. 3529,Ernakulam, Cochi – 682 035. |
| THE DELHI STOCK EXCHANGE ASSN. LTD., | 3&4/4B,Asaf Ali Road, New Delhi 110 002. |
| THE GAUHATI STOCK EXCHANGE LTD,. | Saraf Building Annexe A.T. Road, Guwahati – 781 001. |
| THE HYDERABAD STOCK EXCHANGE LTD,. | Bank Street, Hyderabad – 500 001. |
| JAIPUR STOCK EXCHANGE LTD,. | Rajasthan Chamber Bhawan, M.I. Road, Jaipur – 302 003. |
| KANARA STOCK EXCHANGE LTD. | 4th Floor, Rambhavan Complex, Kodialbail, Mangalore – 575 003. |
| THE LUDHIANA STOCK EXCHANGE ASSN. LTD. | Lajpat Rai Market, Clock Tower, Ludhiana 141 008. |
| MADRAS STOCK EXCHNAGE LTD. | ‘Exchange Building’, Post Box No.183, 11, Second Line Beach, Chennai – 600 001 |
| MADHYA PRADESH STOCK EXCHANGE LTD. |
67, Bada Sarafa, Indore – 452 002. |
| THE MAGADH STOCK EXCHANGE LTD. | Bihar Industries Assn. Premises, Sinha Library Road, Patna – 800 001. |
| PUNE STOCK EXCHANGE LTD. | 1177,Budhwar Peth, Bank of Maharashtra Bldg., 2nd Floor, Bajirao Road, Pune 411 002. |
| SAURASHTRA KUTCH STOCK EXCHANGE LTD., | 4,Swaminarayan Gurukul Bldg., Dhebarbhai Road, Rajkot – 380 002. |
| THE UTTAR PRADESH STOCK EXCHANGE ASSN. LTD. | Padam Towers, 14/113,Civil Lines, Kanpur – 208 001 |
| VADODARA STOCK EXCHANGE LTD. | 101, Paradise Complex, Tilak Toad, Sayaji Gunj, Vadodara – 390 005. |
| COIMBATORE STOCK EXCHANGE | Chamber Tower, 8/732,Avvinashi Road, Coimbatore 641 018. |
| MEERUT STOCK EXCHANGE LTD. | Kingsway Building, 345, Bombay Bazar, Meerut Cantonment – 250 001. |
| OTC EXCHANGE OF INDIA. | Maker Towers “F” Cuffe Parade, Bombay – 400 005. |
| THE NATIONAL STOCK EXCHANGE OF INDIA LTD. | Mahindra Towers, A-Wing, RBC, Worli, Mumbai 18 |
