Published On: Mon, Jun 20th, 2016

Banking Quiz -June 2016

1.In India, the e-filing for Income tax returns is compulsory for the persons and entities which have an income of more than___?
[A]5 Lakh [B]10 Lakh [C]15 Lakh [D]20 Lakh
10 Lakh
2.Recently, the Government sector banks have urged the Reserve Bank of India ( RBI) to consider perpetual non-cumulative preference shares (PNCPS) as part of their core Tier-I capital under Basel-III norms. The features of the PNCPS are:
1. They have no redemption dates
2. They have no voting rights Which among the above is / are correct?
[A]Only 1
[B]Only 2
[C]Both 1 & 2
[D]Neither 1 nor 2
Both 1 & 2
PNCPS is a preference share that has no redemption date and voting rights. The claims of the investors in PNCPS will be senior to the claims of investors in equity shares and subordinate to the claims of all other creditors and depositors.
The FCNR Accounts refer to ___?
Foreign Currency Non-Resident Account
Which among the following banks of India has recently announced formation of an Indian Mortgage Guarantee Company, India’s first mortgage guarantee entity?
National Housing Bank The National Housing Bank (NHB) has announced formation of an Indian Mortgage Guarantee Company, a joint venture with US-based financial security company Genworth, the Asian Development Bank and the International Finance Corporation. This is the first mortgage guarantee company in India. Its aim is to offer credit risk coverage in the form of guarantees to housing finance companies and banks in case of borrowers defaulting. This would help mortgage lenders avoid piling bad debts in their books.

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