Welcome to the official blog of AIPSA. This blog is meant for use by members of All India Postal Stenographers' Association******E-mail: parambilmohan@gmail.com
================ Blog maintained by : P. Radhamohan Nair, Private Secretary to Post Master General, (Retired) Northern Region, Calicut, Kerala Circle=================

Monday, September 14, 2015

Message from the Secretary, Department of Posts, New Delhi.

FAQs - Pradhan Mantri Suraksha Bima Yojana

Pradhan Mantri Suraksha Bima Yojana

For details: Click on the following link:


Rules for Pradhan Mantri Suraksha Bima Yojana

Rules for Pradhan Mantri Suraksha Bima Yojana

For details: Click on the following link:


FAQs - Pradhan Mantri Jeevan Jyothi Bima Yojana

FAQs - Pradhan Mantri Jeevan Jyothi Bima Yojana

For details: Click on the following link:


Rules for Pradhan Mantri Jeevan Jyothi Bima Yojana

Rules for Pradhan Mantri Jeevan Jyothi Bima Yojana 
For details : Click on the following link:


Employment News

  1. BHEL ( Bharat Heavy Electricals Limited)
    Name of Post – Fitter and Welder
    No. of Vacancies – 200
    Last Date –30.09.2015
  2. UPSC(Union Public Service Commission) Name of Posts –Various Posts
    No. of Vacancies - 84
    Last Date – 01.10.2015
  3. MES(Military Engineer Services)Name of Posts – Electrician, Mate Carpenter or Mate Mason Etc.
    No. of Vacancies – 241
    Date- 10.10.15
  4. ISRO(Indian Space Research Organization) Name of Posts – Light Vehicle Driver, Heavy Vehicle Driver and Staff car drivers. 
    No. of Vacancies –112
    Last Date – -24.09.15
  5. GAIL Limited(Gas Authority of India Limited ) Name of Post –Senior Engineer(Chemical PC operations, Mechanical PC O&M etc.)
    No. of Vacancies -60
    Last Date: – 05.10.2015
  6. Bureau of Indian Standards Name of Post –Scientist-‘B’ in various disciplines
    No. of Vacancies –97
    Last Date – 24.09.2015

Banking awareness

1. MICR code consists of how many digits?
Ans: 9 digits.
(First three digits denotes city, next three digits representing the bank and the last three digits representing the bank branch)
2. What is the minimum limit in RTGS system?
Ans: 2 lakhs (there is no upper limit in RTGS)
3. What is full form of CTS?
Ans: Cheque Truncation System
4. Under which service, customers may access their bank account and perform basic transactions from any of the member branch offices.
Ans: Core Banking Solution (CBS)
5. Exchange of cash flow in different currency is known as:
Ans: Currency Swap
6. Assets or loans which stop performing after 90 days is known as:
Ans: Non Performing Asset (NPA)
7. Who controls the Monetary Policy in India?
Ans: RBI (Reserve Bank of India) 
8. Which card is issued by NPCI (National Payments Corporation of India)?
Ans: RuPay Card
9. Definition of Current Account deficit:
Ans: A measurement of a country's trade in which the value of goods and services it imports exceeds the value of goods and services it exports.
10. Full form IFSC ?
Ans: Indian Financial System Code
11. Commercial paper can be issued for a maximum period of:
Ans: 365 days or 1 year.
12. The Mutual funds in India follow accounting standards laid by:
Ans: SEBI (Securities and Exchange Board of India)
13. Minimum amount for Certificate of Deposit hasbeen fixed at:
Ans: Rs. 1 Lakh
14. AML is a term mainly used in the financial and legal industries. Expand the term AML:
Ans: Anti Money Laundering
15. PIN is a number allocated to an individual and used to validate electronic transactions. Expand PIN:
Ans: Personal Identification Number
16. What is Repo rate?
Ans: It is the rate is the rate at which RBI lends money to the commercial banks.
17. What is Stale Cheque?
Ans: A cheque which is presented to a bank after 3 months from date of issue is considered as stale cheque and will often not be honored for cash or deposit at a bank.
18. What is Bancassurance?
Ans: The selling of life assurance and other insurance products and services by banking institutions.
19. The objective of KYC guidelines is to prevent banks from being used, intentionally or unintentionally, by criminal elements for money laundering or terrorist financing activities. What is the full form of KYC?
Ans: Know Your Customer (KYC)
20. Know Your Customer (KYC) guidelines are issued under:
Ans: Section 35A of the Banking Regulation Act, 1949
21. In BSBDA (Basic Savings Bank Deposit Account) the credits in a financial year does not exceed rupees:
Ans: Rs. 1 lakh
22. In BSBDA (Basic Savings Bank Deposit Account) the balance at any point of time does not exceed rupees:
Ans: Rs. 50,000
23. In BSBDA (Basic Savings Bank Deposit Account) the withdrawals and transfers in a month does not exceed rupees:
Ans: Rs. 10,000
24. At which rate RBI give loans to commercial banks?
Ans: Repo rate
25. Full form of CASA:
Ans: Current Account Saving Account
26. In what denominations Commercial Paper (CP) can be issued?
Ans: Rs. 5 lakh
27. What is the minimum denomination of Treasury bills to issue in India?
Ans: Rs. 25,000
28. Who cannot issue Certificate of Deposit (CD)?
Ans: Regional Rural Banks (RRBs) and Local Area Banks (LABs)
29. Expand ASBA:
Ans: Application Supported by Blocked Amount
30. Depositor Education and Awareness Fund (DEAF) is maintained with:
Ans: RBI
31. Cash Reserve Ratio (CRR) is the amount of funds that the banks have to keep with:
Ans: Central Bank (RBI)
32. What is the maximum amount per transaction NEFT limit for cash-based remittances to Nepal?
Ans: Rs. 50,000
33. What does CAR stands for?
Ans: Capital Adequacy Ratio
34. IFSC code consists of _____ alpha numeric code.
Ans: 11 digits
(The IFSC is an 11 digit alpha numeric code, with the first four digits identifying the bank, fifth is numeric (kept 0) and the last six digits represent the bank branch.)
35. When money is lent or borrowed for one day or on overnight basis it is known as:
Ans: Call Money
36. When money is lent or borrowed for between 2 days and 14 days it is known as:
Ans: Notice money
37. When money is lent or borrowed for a period of more than 14 days, it is known as:
Ans: Term money
38. Treasury Bills and Certificate of Deposit are considered as the ____instruments.
Ans: negotiable money market
39. Commercial Paper (CP) is an unsecured money market instrument issued in the form of a _____.
Ans: Promissory note.
40. What is the upper limit in Public Provident Fund (PPF)?
Ans: Rs. 1.5 lakhs
41. As per RBI guidelines, with effect from April 1, 2012, the validity period of Cheques, Demand Drafts, Pay Orders and Banker's Cheques is _____. 
Ans: 3 months
42. What is the time limit for an asset or loan to be declared as Non-Performing Asset?
Ans: 90 days
43. Deposit Insurance and Credit Guarantee Corporation (DICGC) does not cover: 
Ans: Primary co-operative societies
44. RBI measure to liquidate the market:
Ans: Repo rate.
45. Full form of EFT:
Ans: Electronic Fund Transfer
46. Fastest mode of transaction:
47. Alphanumeric code on cheque is known as:
Ans: Indian Financial System Code (IFSC)
48. Bank pays interest on savings account?
Ans: Daily Basis
49. What is the loan limit for education under priority sector for studies abroad?
Ans: Rs. 20 lakh
(Loans to individuals for educational purposes including vocational courses upto Rs.10 lakh for studies in India and Rs. 20 lakh for studies abroad are included under priority sector.)
50. RuPay Card is an Indian version of credit/ debit card is launched by which organization:
Ans: NPCI (National Payments Corporation of India)
51. Fixed Deposit (FD)Account may be opened for a minimum period of:
Ans: 7 days
52. What is the minimum amount required to open a Fixed Deposit (FD)?
Ans: Rs.1000
53. The Banks has converted all ?no - frills' accounts? into:
Ans: Basic Savings Bank Deposit Accounts
54. 'Pradhan Mantri Jan Dhan Yojana' is a Scheme for:
Ans: Financial inclusion
55. How much overdraft facility to be provided in 'Pradhan Mantri Jan Dhan Yojana'  (PMJJY) scheme?
Ans: Rs. 5,000
56. In CBS, C stands for: 
Ans: Core
57. In CRAR, A stands for:
Ans: Assets (Capital to Risk Weighted Assets Ratio)
58. IMPS - Immediate Payment Service is an interbank electronic instant mobile money transfer service through mobile phones in India, the facility is provided by:
Ans: NPCI (National Payment Corporation of India)
59. The Central Bank of India has adopted new measure of inflation:
Ans: Consumer Price Index (CPI)
60. When a cheque is torn into two or more pieces and presented for payment, such a cheque is called:
Ans: mutilated cheque
61. How much fee charged to file a complaint under Banking Ombudsman? 
Ans: Banking Ombudsman does not charge any fee
62. Who is the appellate authority in Banking Ombusdsman?
Ans: Deputy Governor of RBI 
63. If any customer is not satisfied by the decision of Banking Ombudsman, customer can appeal against the award before the appellate authority within how many days from the date of receipt?
Ans 30 days
64. ATMs or Cash Dispensing machine which are owned and operated by Non-Banking Financial Companies are called:
Ans: White Label ATMs.
65. RBI gave in-principle for Banking license to:
Ans: IDFC and Bandhan
66. Minimum capital requirement for new banks in private sector is:
Ans: Rs. 500 crore
67. A Non-Banking Financial Company (NBFC) is a company registered under the:
Ans: Companies Act, 1956
68. Minimum capital requirement for Non-Banking Financial Company (NBFC) is:
Ans: Rs. 500 crore
69. The NBFCs are allowed to accept/renew public deposits for a minimum period of:
Ans: 12 months ( and maximum period of 60 months)
70. A NBFCs cannot offer interest rates higher than the ceiling rate prescribed by RBI? What is the present ceiling?
Ans: 12.5 per cent per annum
71. Minimum capital requirement for Foreign banks that want to set up operations in India is: 
Ans: Rs. 500 crore
72. What is the minimum paid-up capital requirement of both small banks and payments banks in India?
Ans: Rs. 100 crore

Additional instalment of Dearness Allowance

Union Cabinet approved release of an additional instalment of Dearness Allowance to Central Government employees and Pensioners
Release of additional instalment of Dearness Allowance to Central Government employees and Dearness Relief to Pensioners due from 1.7.2015 
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved release of an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to Pensioners w.e.f. 01.07.2015. This represents an increase of 6 percent over the existing rate of 113 percent of the Basic Pay/Pension, to compensate for price rise. 

This will benefit about 50 lakh Government employees and 56 lakh pensioners. 
The increase is in accordance with the accepted formula, which is based on the recommendations of the 6th Central Pay Commission (CPC). The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be in the order of Rs. 6655.14 crore per annum and Rs.4436.76 crore in the financial year 2015-16 (for a period of 8 months from July, 2015 to February, 2016).