What is Mudra Bank

What is Mudra Bank?

• MUDRA means Micro Units Development and Refinance Agency(known as the MUDRA bank) 
• Mudra bank is being set up through a statutory enactment and will be responsible for developing and refinancing through a Pradhan Mantri Mudra Yojna.
• It is first set up as a subsidiary of the Small Industries Develpoment Bank of India(SIDBI). It will later be converted into full-fledged bank through an act of the parliament.
• MUDRA Bank is a public sector financial institution in India, It provides loan at low rates to small entrepreneurs.

OBJECTIVE -

• It was launched in 8th April 2015 with the objective of regulating micro and small enterprise financing business, and supporting them particularly those members who belongs from scheduled castes and scheduled tribes. 
• MUDRA Bank will also register MFIs(Micro Finance Institutions) and will be responsible for accreditation and rating of MFI. 
• It will also make proper last mile practices to be followed by MFI to provide proper client protection and to prevent from indebtedness.

AIM -

• The finance ministry said measures to be taken up by the MUDRA are targeted mainly on young, educated or skilled workers and entrepreneurs including women entrepreneurs.
• Basically small entrepreneurs and small businessman are often cut from banking system because of limited branch presence, so MUDRA bank will partner with local coordinators and provide finance to small and micro businesses

• IMPORTANT FIGURES ABOUT MUDRA BANK

  • The bank will be set up with the initial corpus of Rs 20000 cr and a credit guarantee corpus of Rs 3000cr.
  • The bank have categorized the amount of loan to be given in three different categories-
  • SHISHU- This is the first stage and in it the loan will be given for upto 50000 Rs.
  • KISHOR- In the second stage a loan amount will be ranging from 50,000 to Rs 5 lakh.
  • TARUN- This is last category which will provide upto Rs 10 lakh.
  • The bank will cater to 5.77 crore small business units that spread all across India who currently find it difficult to access credit from the regular banking system.
  • According to Mr NARENDRA MODI the bank would help over 6 cr families out of which 65% of them belongs to scheduled caste and scheduled tribes.

Banking Terms for Bank Exams

In general awareness section of IBPS exam, there are atleast 3-4 four questions asked from banking terminology. I have compiled the list of banking abbreviations for general awareness section of IBPS exams. Read and learn them thoroughly, atleast 2 question must be asked in IBPS PO and clerk exam.

1. ADR - American Depository Receipt
2. AGM - Annual General Meeting
3. AIRCSC - All India Rural Credit Survey Committee
4. AFS - Available For Sale
5. AMFI- Association of Mutual Fund in India
6. ASSOCHAM - Associated Chambers of Commerce and Industry of India
7. ATM - Automated Teller Machine
8. ALM- Asset Liability Management
9. BSBDA - Basic Savings Bank Deposit Account
10. BIS - Bank for International Settlements
11. BoP - Balance of Payments
12. CAD - Capital Account Deficit
13. CAG - Controller and Auditor General of India
14. CAMELS- Capital Adequacy, Asset Quality, Management, Earnings, Liquidity, Systems & Controls
15. CBS- Consolidated Banking Statistics
16. CEPA- Comprehensive Economic Partnership Agreement
17. CC - Cash Credit
18. CD - Certificate of Deposit
19. CECA - Comprehensive Economic Cooperation Agreement
20. CF - Company Finance
21. CII - Confederation of Indian Industries
22. CP - Commercial Paper
23. CPI - Consumer Price Index
24. CCEA – Cabinet Committee on Economic Affairs
25. CR - Capital Receipts
26. CRR - Cash Reserve Ratio
27. CRAR- Capital to Risk-weighted Assets Ratio
28. CSIR- Council of Scientific and Industrial Research
29. CSO- Central Statistical Organisation
30. CBS: Core Banking Solution
31. DBOD - Department of Banking Operations and Development
32. DBS - Department of Banking Supervision, RBI
33. DCA - Department of Company Affairs
34. DTC- Direct Tax Code
35. DCCB- District Central Cooperative Bank
36. DCM- Department of Currency Management, RB
37. DTAA-  Double Taxation Avoidance Agreement
38. DD- Demand Draft
39. DEAF- Depositor Education and Awareness Fund
40. DDS- Data Dissemination Standards
41. DICGC- Deposit Insurance and Credit Guarantee Corporation of India
42. EEFC- Exchange Earner's Foreign Currency
43. ECGC- Export Credit and Guarantee Corporation
44. ECS- Electronic Clearing Scheme
45. EEA- Exchange Equalization Account
46. EPF- Employees Provident Fund
47. EEFC- Exchange Earner's Foreign Currency
48. ECBs- External Commercial Borrowings
49. FIPB- Foreign Investment Promotion board
50. FDI- Foreign Direct Investment
51. FSLRC- Financial Sector Legislative Reforms Commission
52. FEMA- Foreign Exchange Management Act
53. FII- Foreign Institutional Investor
54. FRBMA- Fiscal Responsibility and Budget Management Act
55. FTA- Free trade agreement
56. FINO- Financial Inclusion Network Operation
57. FCNR(B)- Foreign Currency Non-Resident Bank
58. FEMA- Foreign Exchange Management Act
59. EFSF- European Financial Stability Facility
60. FICCI- Federation of Indian Chambers of Commerce and Industry
61. FII- Foreign Institutional Investor
62. FPI- Foreign Portfolio Investment
63. FSLRC- Financial Sector Legislative Reforms Commission
64. GDP- Gross Domestic Product
65. GDR- Global Depository Receipt
66. GFD - Gross Fiscal Deficit
67. GIC - General Insurance Corporation
68. GAAR - General anti avoidance rule
69. GPD - Gross Primary Deficit
70. GIRO - Government Internal Revenue Order
71. HDFC - Housing Development Finance Corporation
72. HFT - Held For Trading
73. IBS - International Banking Statistics
74. ICAR - Indian Council of Agricultural Research
75. ICICI - Industrial Credit and Investment Corporation of India
76. ICMR - Indian Council of Medical Research
77. IDBI - Industrial Development Bank of India
78. IFC - International Finance Corporation
79. ITEs: Intra-Group Transactions and Exposures
80. IFCI - Industrial Finance Corporation of India
81. IIP - Index of Industrial Production
82. IMF - International Monetary Fund
83. IRBI - Industrial Reconstruction Bank of India
84. ISDA - International Swaps and Derivative Association
85. ISIC - International Standard Industrial Classification
86. ISO - International Standards Organization
87. LBS - Locational Banking Statistics
88.  LIBOR: London Inter-Bank Offer Rate
89. LERMS - Liberalised Exchange Rate Management System
90. LIC - Life Insurance Corporation of India
91. LCR: Liquidity Coverage Ratio
92. LRMT: Liquidity risk monitoring tools
93. LAF – Liquidity Adjustment Facility
94. MCA - Ministry of Company Affairs
95. MSF-Marginal Standing Facility
96.  MIBOR: Mumbai Inter-Bank Offer Rate
97. MIS - Management Information System
98. MMSE - Minimum Mean Squared Errors
99. NABARD - National Bank for Agriculture and Rural Development
100. NASSCOM - National Association of Software and Services Companies
101. NCTC - National Counter-Terrorism Centre
102. NBFC-Non Banking Finance Companies
103. NBC - Non-Banking Companies
104. NEFT - National Electronic Funds Transfer
105. NBFC - Non Banking Financial Companies
106. NEER - Nominal Effective Exchange Rate
107. NFA - Non-Foreign Exchange Assets
108. NSFR: Net Stable Funding Ratio
109. NGO - Non-Governmental Organization
110. NHB - National Housing Bank
111. NSG – Nuclear Suppliers Group
112. NPA - Non-Performing Assets
113. NSC - National Statistical Commission
114. NSSF - National Small Savings Fund
115. OD - Over Draft
116. ODA - Official Development Assistance
117. OMO - Open Market Operations
118. PACS - Primary Agriculture Credit Societies
119. PDAI - Primary Dealers Association of India
120. PDO - Public Debt Office
121. PIO - Persons of Indian Origin
122. PO - Principal Office
123. PRB - Primary Revenue Balance
124. PSE - Public Sector Enterprises
125. PUC - Paid Up Capital
126. PPP – Public Private Partnership & Purchasing Power parity
127. QFI -Qualified Foreign Investors
128. RD - Revenue Deficit
129. RDBMS - Relational Database Management
130. RTGS - Real Time Gross Settlement System
131. RE - Revenue Expenditure
132. REC - Rural Electrification Corporation
133. REER - Real Effective Exchange Rate
134. RIDF - Rural Infrastructure Development Fund
135. RoC - Registrars of Companies SLR-Statutory Liquidity Ratio
136. RR - Revenue Receipts
137. RRB - Regional Rural Bank
138. RTP - Reserve Tranche Position
139. RWA - Risk Weighted Asset
140. SAS - Statistical Analysis System
141. SCARDB - State Cooperative Agriculture and Rural Development Bank
142. SWIFT: Society for Worldwide Interbank Financial Telecommunication
143. SCB - State Cooperative Bank
144. SCB - Scheduled Commercial Bank
145. SDDS -Special Data Dissemination Standards
146. SDR - Special Drawing Right
147. SEBI - Securities and Exchange Board of India
148. SIFI - Systemically Important Financial Intermediaries
149. SEBs - State Electricity Boards
150. SGSY - Swarnajayanthi Gram Swarrojgar Yojana
151. SHGs - Self-Help Groups
152. SIDBI - Small Industries Development Bank of India
153. SIDC - State Industrial Development Corporation
154. SJSRY - Swarna Jayanti Shahari Rojgar Yojana
155. SLR - Statutory Liquidity Ratio
156. SMG - Standing Monitoring Group
157. SNA - System of National Accounts
158. SRWTO - Small road & Water Transport Operators
159. SSI - Small-Scale Industries
160. STRIPS - Separate Trading for Registered Interest and Principal of Securities
161. TB - Treasury Bills
162. TARC - Tax Administration Reform Commission
163. TC - Temporary Change
164. TT - Telegraphic Transfer
165. TAPI - Turkmenistan-Afghanistan-Pakistan-India
166. TFTS - Trade for Trade Settlement
167. TIEA – Tax Information exchange Agreement
168. UCB - Urban Cooperative Bank
169. UCN - Uniform Code Number
170. UNDP - United Nations Developement Programme
171. UNICO - Umbrella Organisation for Large Cooperative Banks in Europe
172. UNDP - United Nations Development Programme
173. UNIDO - United Nations Industrial Development Organisation
174. UNME - Urban Non-Manual Employees
175. UTI - Unit Trust of India
176. VC - Venture Capital
177. WPI - Wholesale Price Index
178. WTO - World Trade Organisation
179. Y-o-Y - Year-on-Year
180. YTM - Yield to Maturity
181. ZTC - Zonal Training Centree

GK Questions Asked in BOM Manipal PO 2016 Exam - 28.10.2016 (1st Shift)

Ques 1. Which is the umbrella organization for all retail payments system in India?

Ans: National Payments Corporation of India (NPCI )

Ques 2. Which Bank introduced India's first robotic locker facility “Smart Vault”?

Ans: ICICI Bank

Ques 3. “Apka Bhala and Sabki Bhalayi” is the tagline of which bank?

Ans: Bandhan Bank

Ques 4. Where the Patagonian desert is located?

Ans: South America

Ques 5. Which day is celebrated as World Food Day?

Ans: 16^th October

Ques 6. What is the theme of the 2016 International Day of Democracy?

Ans: Democracy and the 2030 Agenda for Sustainable Development

Ques 7. Gurudongmar Lake is located in which state of India?

Ans: Sikkim

Ques 8. Kakrapar Dam is located in which state of India?

Ans: Gujarat

Ques 9. Which is the India's first credit rating agency, incorporated in 1987

Ans: CRISIL (Credit Rating Information Services of India Limited)

Ques 10. What was the designation of Dr Urjit Patel before his appointment as Governor of RBI? Ans: Deputy Governor of RBI

Ques 11. BARAK 8 missile was developed by India in collaboration with which country?

Ans: Israel

Ques 12. What is the full form of FSB?

Ans: Financial Stability Board

Ques 13. The 17th Summit of the Non-Aligned Movement (NAM) held in-

Ans: Venezuela

Ques 14. What is the currency of Denmark?

Ans: Krone

Ques 15. Who subsidized MUDRA?

Ans: SIDBI

Ques 16. Which is the highest loan limit (Tarun) of Mudra Bank?

Ans: 10 lakhs

Ques 17. What is the share of State Government in the capital of RRB?

Ans: 15%

Ques 18. ICRA Ltd. (formerly Investment Information and Credit Rating Agency of India Ltd.) was established and promoted by which organization?

Ans: Industrial Finance Corporation of India ( IFCI)

Ques 19. Where is the headquarter of JP Morgan Chase located?

Ans: USA

Ques 20. “At the Close of Play” is an autobiography of which cricket player?

Ans: Ricky Pointing

Ques 21. Last six digit of IFSC need to identify of __________.

Ans: Bank Branch

Ques 22. In SMFS first “S” stands for?

Ans: Structured (SMFS = Structured Financial Messaging System)

Ques 23. Lisbon is capital of which country?

Ans: Portugal

Ques 24. DEAF (Depositor Education and Awareness Fund) fund associated with which act?

Ans: Banking Regulation Act, 1949

Ques 25. ECGC is funded by?

Ans: Govt. of India

Ques 26. Where is the head quarter of Bandhan Bank situated?

Ans: Kolkata, West Bengal

Ques 27. Where is the head quarter of Indian Bank situated?

Ans: Chennai

Ques 28. In UPI, “I” stands for?

Ans: Interface (UPI = Unified Payments Interface)

Ques 29. If a cheque is torn into two or more pieces such cheque is called as?

Ans: Mutilated Cheque

Ques 30. What would be the benefits under the PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) scheme and premium payable?

Ans: Rs.2 lakh is payable on a subscriber’s death due to any cause. The premium payable is Rs.330/- per annum per subscriber.

Thanks.