Business/Economy -One Liners
1- In India, one rupee coins are issued by Govt. of India
2-When a bank returns a cheque unpaid, it is called dishonour of the cheque.
3-Banks in India are regulated under Banking Regulation Act, 1949
4-If a cheque is postdated, the bank on which it is drawn will not honour the cheque before the date of the cheque.
5- Demat Accounts- Accounts in which shares of various companies are traded in electronic form.
6-Regulator of Capital Market in India – SEBI
7-RBI nationalized in January 1, 1949
8-First Indian Bank to introduce credit card -Central Bank of India
9- RBI established in April1, 1935.
10-Loans of very small amounts given to low income groups is called Micro Credit
11-Banking sector falls under Service Sector
12-ASBA scheme is related to the purchase of IPO
13-Bad advances of a Bank are called Non – performing Asset
14-The term ‘pre – shipment’ finance relates to export credit
15-The sole authority to issue and manage currency in India- RBI
16- If a bank offers a slightly lower rate in the initial years and higher rate in later years, it is called a teaser loan.
17-Cheque which is not crossed is called Open cheque
18-The term ‘Smart Money’ refers to Credits Card
19-. Special Drawing Right (SDR) is a monetary unit of IMF
20- The Regulatory body for RRBs- NABARD
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