Knowledge portal for Civil Services Aspirants: February 2012

BANKING INTERVIEW QUESTIONS

1. Who are forensic accountants?

Forensic accountants are trained to detect evidence of frauds in financial

statements. They go beyond the numbers and attempt to analyze 100% of the data as against the sampling procedure adopted by auditors. When the extended procedures are invoked, cases like the overvaluation of the sales or the debtors become easy to investigate. In India there is an urgent
need of large number of forensic accountants in view of the preponderance of corporate frauds.
2. What do you mean by Financial Inclusion?

Financial inclusion means providing to the large unbanked population of India access to financial products and services like:Bank accounts, immediate credit, savings products, remittance and payment services, insurance, mortgage, entrepreneurial credit, financial advisory services.

Steps taken so far for promotion of financial inclusion have been – the cooperative movement, setting up of State Bank of India, nationalization of banks, lead bank scheme, regional rural banks, service area approach, self help groups.
Out of 611 districts in the country, only 68 districts have been covered by so called financial inclusion (as of July 2009).
3. What do you mean by Capital adequacy ratio?

CRAR is the acronym for capital to risk weighted assets ratio, a standard metric to measure balance sheet strength of banks.
BASEL I and BASEL II are global capital adequacy rules that prescribe a minimum amount of capital a bank has to hold given the size of its risk weighted assets. The old rules mandate banks to back every Rs. 100 of commercial loans with Rs. 9 of capital irrespective of the nature of these loans. The new rules suggest the amount of capital needed depends on the credit rating of the customer.
4. What are Banking Codes and Standards Board of India BCSBI?

BCSBI is an independent and autonomous body set up by RBI to ensure that comprehensive code of conduct for fair treatment of customers was evolved and adhered to. In substance the board has been set up to ensure that the common consumer of banking services is in no way in a disadvantageous position and really gets what he has been promised by the banks.
Member banks of the board have voluntarily agreed to abide by the provisions enumerated in the codes which have been drawn up for the benefit of customers. These are:
Code of Bank’s Commitment to Customers, and
Code of Bank’s Commitment to Micro and Small Enterprises.
5. Who is a Banking Ombudsman?

An independent dispute resolution authority provided by RBI to deal with disputes that bank customers have with their respective banks. The authority is to be approached after the customer fails to get his grievance resolved from the concerned bank in terms of the grievance redressal mechanism.

6. What is meant by nomination facility for bank accounts?

Nomination in bank accounts prevents harassment and facilitates the bank to make payment to the nominee of a deceased depositor, of the amount standing to the credit of the depositor without the need for producing succession certificate and completion of other legal formalities as required to determine the legal heirs.
7. What is a ‘no frills’ account?

It is supposed to be a basic savings bank account for the benefit of all sections of the population. Such accounts require either nil or low minimum balance to be maintained. Services available for these accounts are also limited.
8. What is meant by insurance cover for deposits in banks?

All deposits upto Rs. 1 lakh in a commercial or cooperative bank in India are insured by the Deposit Insurance and Credit Guarantee Corporation of India DICGC. The insurance protection is available free of cost to the depositors and covers the principal and interest dues taken together. Deposits in different banks are separately insured with each deposit eligible for Rs1lakh cover. Insurance cover is available across savings accounts, current accounts, recurring and fixed deposit accounts.
9. What is meant by credit score?

It is the statistical summary of the individual bits of information on the credit report of an entity. A credit score predicts how likely it is that a company or individual will repay debts. Banks use this information to take a decision whether to sanction the loan or not and if so, the applicable rate of interest.
10. What is Plastic Money?
With the increasing use of credit, debit cards for withdrawal of cash from ATMs, the use of the term plastic money is common. These cards being of plastic facilitating availability of cash or money to the card holder, have come to be referred commonly as plastic money.
11. What is Free look period for insurance policies?
Free look period is a fortnight given to a new insurance policy holder to examine the life insurance contract that he has signed. In case he does not want to continue with it, he can rescind the contract and the insurance company shall refund the amount paid. In India IRDA has made it mandatory for all insurance companies to grant 15 days free look period. The free look period starts from the day of receipt of policy documents by an individual and the cancellation of the policy must be intimated to the insurance company within this time period.
12. What are Riders on an insurance policy?
The riders are meant to provide additional cover against risks. Depending upon the risk perception additional covers can be brought with the basic policy. These riders may cover accidental death, critical illnesses, disability etc. Though extra premium would be charged for each of the additional risk covers it would still be much less when compared to separate policies.
13. Give some examples of Functions of Finance?
Determination of the financial requirements of the firm, obtaining necessary finance from the necessary sources at minimum possible cost & allocation of finance in different assets. In simple terms the finance fuinctions are raising of funds, planning for funds and allocation & control of funds.
14. What do you mean by profit maximization?
Profit maximization is the indicator of economic efficiency. It includes measurement of success of business decisions. It is also a source of incentives.
15. Is there any difference between a finance manager and treasurer?
The major functions of a a treasurer are management of Cash, Management of Credit , Management of pensions and overlooking the banking transactions. He is subordinate to finance manager in big firms however the finance manager may perform the duty of a treasurer in small firms or vice versa.
16. What kind of decisions a Finance Manager has to make in a firm?
The main decision is financial analysis & performance appraisal, making financing decisions, Investing decisions and dividend decisions. He plays an important role in Financial Control, Dividend Decisions, Management of Income and Financial analysis. Besides he also plays an important role in amalgamation, reconstruction, liquidation decisions, continuous audits, co-ordination in funds, preparation of cost account and maintaining adequate liquidity.
17. What does come under financial Control?
The financial control involves Accounting functions, control planning and audit and tax Administration apart from this.
18. What is the meaning of value in a business?
Value in simple means is a worth of an asset, security or a business. There are certain kinds of value like Market value, Intrinsic value, Liquidation value, replacement value etc.
19. What is market value?
Market value is the price which is present in market. It is different from intrinsic value which is a synonym to net Assets, Liquidation value is the value at wind up and Salvage value is the scrap value.
20. Can you give some examples of all these?
Yes, For example any price given in a price list or a quotation is a market value, any price which is realizable for any asset is liquidation value. If the same asset has to be replaced with a new asset then it becomes the replacement value, and lastly the cost incurred in removing the asset from the premises is called Scrap value.
21. Ok, on what does this value imply upon?
The value may imply upon valuation of a plant, machinery, intangible assets of the firm like Goodwill, Tangible assets like Stock and even human resources.
22. Ok then what is Fair value?
Fair value is an average of market value and book value. Book value is the value given in the balance sheet of the company. Market value is the economic value which is also called as present value.
23. How valuations are done?
Valuation can be by several approaches. For example, asset based approach, earning based approach, market value based approach etc.
24. Suppose you are starting a business. Which kind of sources of finance you will require to start your business as you need working capital and current assets?
The arrangement of working capital and current assets can be done by short-term sources. The short term sources are trade credit, short term bank finance and also public deposits.
25. But suppose, you are given an option to go for either trade credit or Bank loans which option you will choose?, keep in mind that you are in a new business.
Trade credit is in most cases not available to new customers as it depends upon the intangible assets of the business like goodwill and brand. Besides, trade credit is also not advisable as high price is charged in credit purchases. Sometimes, low quality or inferior good are to be accepted.
26. Ok, then what are the other options?
Bank loans such as overdraft, cash credit, discounting of trade bills and loans and advances are options.
27. What is the main function of Competition Commission of India?
CCI is an independent body which become operational w.e.f. May 20, 2009 and is responsible for investigating the mergers, market shares & conditions besides regulating firms. CCI will ultimately replace the Monopolies and Restrictive Trade Practices Commission (MRTPC) of India.
28. What is Lead Bank Scheme?
Lead bank scheme was introduced around 40 years ago and recently it was in the news as a high level committee chaired by RBI Deputy Governor Usha Thorat was constituted to review and revitalize this scheme. The scheme aims at facilitating credit delivery to the farfetched areas of India. There are members of the committee from NABARD and SIDBI. Thus the scheme focuses upon financial inclusion.
The Opinion of this committee is that full financial inclusion is possible only if it makes a facility of opening of no frill accounts backed by other specialized services.
29. What are Nostro & Vostro Accounts ?
A nostro account is maintained by an Indian Bank in the foreign countries for a facility of easy clearing of their transactions. For instance, if the bank pays a demand drawn on it by its correspondent bank, there is no delay because the foreign corresponded bank would already have credited the nostro account of the paying bank while issuing the demand draft.
A vostro account is maintained by a foreign bank in India with their corresponding bank.
30. From which country India imports maximum?
From China. Import from China was $ 24.16 billion in 2008-09, which got doubled in 3 years. This is 10.3 % of all the imports of India.
31. What is Gold Standard?
A system of setting currency values whereby the participating countries commit to fix the prices of their domestic currencies in terms of a specified amount of gold.
32. What is a Free Float Exchange Rate system?
An exchange rate system characterized by the absence of government intervention. Also known as a clean float

33. What are Special Drawing rights SDR?
SDR are new form of international reserve assets, created by the International Monetary Funds in 1967. The value of SDR is based on a portfolio of widely used currencies and they are maintained as accounting entries and not as hard currency or physical assets like Gold.
34. What are the requirements to open a New Branch in Rural Area?
Since 2006, RBI has approved the opening of new branches only on the condition that at least half of such branches are opened in under-banked areas as notified by the regulator.
The opening of branches by banks is governed by the provisions of Section 23 of the Banking Regulation Act, 1949. In terms of these provisions, banks cannot open a new place of business in India or abroad or change otherwise than within the same city, town or village, the location of the existing place of business without the prior approval of the Reserve Bank of India (RBI). Thus, it is mandatory for RRBs to seek prior approval/ license from Rural Planning and Credit Department (RPCD) of RBI before opening of new branches/offices.
RRB should fulfill the following conditions to become eligible for opening of new branch/es.
1. It should not have defaulted in maintenance of SLR and CRR during the last two years.
2. The RRB should be making operational profits, its net worth should show improvement 3. Its net NPA ratio should not exceed 8 per cent.
35. What is concept sustainable Development?
Meeting the needs of the present without compromising the ability of future generations to meet their needs is called sustainable development. This concept is popular in present context of development.
36. What is the meaning of Financial Inclusion?
Today is is well recognized that large population of India is out of reach of the formal banking services. Financial inclusion is the concept which has been floated to bring the most of the rural population / area under the net of the financial and banking services.
37. What is a fiscal deficit?
A deficit in the government budget of a country and represents the excess of expenditure over income. So this is the amount of borrowed funds required by the government to meet its expenditures completely.
India's fiscal deficit widened to Rs. 541.58 billion in April, 2009 as compared to Rs. 329.39 billion rupees in April 2008.
38. What is Black Money ?
Black Money is the unaccounted money concealed from the tax authorities. The black money runs a parallel economy adversely affecting the distribution of wealth & income in the economy. The total amount of black money globally is estimated between $2.1 and 2.5 trillion. This is roughly about seven percent of the world’s GDP.
39. What is a Black Market?
A black market is an illegal market, in which something is bought and sold outside of official government-sanctioned channels. Black markets tend to arise when a government tries to fix a price without itself providing all of the necessary supply or demand. Black markets in foreign exchange almost always exist when there are exchange controls.
40. What is a blue chip company?

Why it is blue color only used in such companies?
A blue chip is concerned with stocks & shares of company, which are well established and whose purchase is considered extremely safe. Due to stable earnings and no extensive liabilities these companies are called blue chip companies.
The term blue chip comes from casinos, where blue chips stand for counters of the highest value. Most blue chip stocks pay regular dividends, even when business is faring worse than usual.
41. What is a direct Tax?
A direct tax is that which is paid directly by someone to taxing authority. Income tax and property tax are examples of direct tax. They are not shifted to somebody else.
42. What is an Indirect Tax?
This type of tax is not paid by someone directly to the authorities and it is actually passed on to the other in the form of increased cost. They are levied on goods and services produced or purchased. Excise tax, Sales tax, VAT are indirect taxes.
43. What are LDCs or Least Developed Countries?
Least Developed Countries (LDCs) are countries which as per United Nations show the lowest indicators of socioeconomic development.
They have lowest Human Development Index ratings of all countries in the world.
A country which has three-year average Gross national Income per capita of less than US $750 is tagged as LDC. a LDC must have an income of $ 900 to escape this tag. Besides if thse countries show human resource weakness based on indicators of nutrition, health, education and adult literacy and also or economic vulnerability based on instability of economy . Currently UN has tagged 49 countries in LDC. India is not an LDC.
44. What are Middle Income Countries ?
Middle-income countries (MICs) are the 86 countries that fall into the middle-income range set by the Bank's World Development Indicators. They account for just under half of the world's population; are home to one-third of people across the globe living on less than $2 per day; and are found in all six of the Bank's geographical regions. They cover a wide income range, with the highest income MIC having a per capita income 10 times that of the lowest.
45. What is Policy of Laissez Faire?
Laissez Faire is a French term and means no interference. It is a doctrine that states that government generally should not intervene in the marketplace.
46. What is the difference between Monopoly and Monopsony ?
In monopsony only one buyer faces many sellers. So this is called Buyer's Monopoly. It is a rare situation in today's economy.
In monopoly one seller faces many buyers. As the only purchaser of a good or service, the "monopsonist" may dictate terms to its suppliers in the same manner that a monopolist controls the market for its buyers.
47. What is Balance of Trade?
The value of a country's exports minus the value of its imports. Unless specified as the balance of merchandise trade, it normally incorporates trade in services, including earnings (interest, dividends, etc.) on financial assets.
48. What is Balanced Trade?
When A balance of trade equal to zero. (exports-imports=0)
49. What is Balance of merchandise trade?
The value of a country's merchandise exports minus the value of its merchandise imports.
50. What is a favorable balance of trade?
It is the difference between exports and imports. Debit items include imports, foreign aid, domestic spending abroad and domestic investments abroad. Credit items include exports, foreign spending in the domestic economy and foreign investments in the domestic economy. A country has a trade deficit if it imports more than it exports; the opposite scenario is a trade surplus.
51. What is Balance of Payments?
A list, or accounting, of all of a country's international transactions for a given time period, usually one year. Payments into the country (receipts) are entered as positive numbers, called credits; payments out of the country (payments) are entered as negative numbers called debits. A single number summarizing all of a country's international transactions: the balance of payments surplus.
52. What is Balance of payments adjustment mechanism?
Any process, especially any automatic one, by which a country with a payments imbalance moves toward balance of payments equilibrium
53. What is Monopolistic Competition?
A market structure in which there are many sellers each producing a differentiated product. Each can set its own price and quantity, but is too small for that to matter for prices and quantities of other producers in the industry.
54. What is MFN?
MFN stands for Most Favoured Nation. The principle, fundamental to the GATT, of treating imports from a country on the same basis as that given to the most favored other nation. That is, and with some exceptions, every country gets the lowest tariff that any country gets, and reductions in tariffs to one country are provided also to others.
55. What is Gold Standard
A monetary system in which both the value of a unit of the currency and the quantity of it in circulation are specified in terms of gold. If two currencies are both on the gold standard, then the exchange rate between them is approximately determined by their two prices in terms of gold.
56. What is Balance on capital account?
A country's receipts minus payments for capital account transactions.
57. What is Balance on current account ?
A country's receipts minus payments for current account transactions. Equals the balance of trade plus net inflows of transfer payments.
58. What is a Balanced budget ?
A government budget surplus that is zero, thus with net tax revenue equaling expenditure. A balanced budget change in policy or behavior is one in which a component of the government budget, usually taxes, is adjusted as necessary to maintain a balanced budget.
59. What is balanced growth of an Economy?
Growth of an economy in which all aspects of it, especially factors of production, grow at the same rate.
60. What is a Bank rate
The interest rate charged by a central bank to commercial banks for very short term loans.
61. What is a Repo?
Repo is “Repurchase Agreement. An agreement to sell a security for a specified price and to buy it back later at another specified price. A repo is essentially a secured loan.
62. What is Repo Rate?
Whenever the banks have any shortage of funds they can borrow it from RBI. Repo rate is the rate at which our banks borrow rupees from RBI. A reduction in the repo rate will help banks to get money at a cheaper rate. When the repo rate increases borrowing from RBI becomes more expensive. On March 4, 2009 it was 5% in India (please check the latest figure by RBI)
63. What is CRR Rate in India?
Cash reserve Ratio (CRR) is the amount of funds that the banks have to keep with RBI. If RBI decides to increase the percent of this, the available amount with the banks comes down. RBI is using this method (increase of CRR rate), to drain out the excessive money from the banks.
64. What is a Reverse Repo Rate?
Reverse Repo rate is the rate at which Reserve Bank of India (RBI) borrows money from banks. Banks are always happy to lend money to RBI since their money are in safe hands with a good interest. An increase in Reverse repo rate can cause the banks to transfer more funds to RBI due to this attractive interest rates. It can cause the money to be drawn out of the banking system. Due to this fine tuning of RBI using its tools of CRR, Bank Rate, Repo Rate and Reverse Repo rate our banks adjust their lending or investment rates for common man. On March 4, 2009 Reverse Repo Rate is 3.5% (please check latest rate by RBI)
65. What is SLR Rate?
SLR (Statutory Liquidity Ratio) is the amount a commercial bank needs to maintain in the form of cash, or gold or govt. approved securities (Bonds) before providing credit to its customers. SLR rate is determined and maintained by the RBI (Reserve Bank of India) in order to control the expansion of bank credit.
66. How is SLR determined?
SLR is determined as the percentage of total demand and percentage of time liabilities. Time Liabilities are the liabilities a commercial bank liable to pay to the customers on their anytime demand. .
67. What is the Need of SLR?
With the SLR (Statutory Liquidity Ratio), the RBI can ensure the solvency a commercial bank. It is also helpful to control the expansion of Bank Credits. By changing the SLR rates, RBI can increase or decrease bank credit expansion. Also through SLR, RBI compels the commercial banks to invest in government securities like government bonds.
68. What is the main use of SLR?
SLR is used to control inflation and propel growth. Through SLR rate tuning the money supply in the system can be controlled efficiently.
69. What is Inflation in India?
Increase in the overall price level of an economy, usually as measured by the CPI /WPI or by the implicit price deflator. Inflation is as an increase in the price of bunch of Goods and services that projects the Indian economy. An increase in inflation figures occurs when there is an increase in the average level of prices in Goods and services. Inflation happens when there are less Goods and more buyers, this will result in increase in the price of Goods, since there is more demand and less supply of the goods.
70. What is Deflation?
A fall in the general level of prices. Unlikely unless the rate of inflation is already low, it may then be due either to a surge in productivity or, less favorably, to a recession. Deflation is the continuous decrease in prices of goods and services. Deflation occurs when the inflation rate becomes negative (below zero) and stays there for a longer period.
71. What is a Barter economy?
An economic model of international trade in which goods are exchanged for goods without the existence of money. Most theoretical trade models take this form in order to abstract from macroeconomic and monetary considerations.
72. What is Basel I?
Also known at Basel Capital Accord, this was an agreement in 1988 by the Basel Committee of central bankers to measure the credit risk of commercial banks and set minimum standards for bank capital in order to reduce the likelihood of international repercussions due to bank failures.
73. What is Basel II?
The Basel II Framework describes a more comprehensive measure and minimum standard for capital adequacy that national supervisory authorities are now working to implement through domestic rule-making and adoption procedures. It seeks to improve on the existing rules by aligning regulatory capital requirements more closely to the underlying risks that banks face. In addition, the Basel II Framework is intended to promote a more forward-looking approach to capital supervision, one that encourages banks to identify the risks they may face, today and in the future, and to develop or improve their ability to manage those risks. As a result, it is intended to be more flexible and better able to evolve with advances in markets and risk management practices.
The efforts of the Basel Committee on Banking Supervision to revise the standards governing the capital adequacy of internationally active banks achieved a critical milestone in the publication of an agreed text in June 2004.
74. What is a Beggar thy neighbor policy?
For a country to use a policy for its own benefit that harms other countries. Examples are optimal tariffs and, in a recession, tariffs and/or devaluation to create employment.
75. What is a Bill of Lading?
This term is normally used in shipping industry. The receipt given by a transportation company to an exporter when the former accepts goods for transport. It includes the contract specifying what transport service will be provided and the limits of liability.
76. What is the use of color boxes in WTO category of subsidies?
Used with a color, a category of subsidies based on status in WTO: red=forbidden, amber or orange=go slow, green=permitted, blue=subsidies tied to production limits. Terminology seems only to be used in agriculture, where in fact there is no red box.
77. There are mainly two types of liabilities on any bank:
Demand Liabilities: The liabilities which bank have to pay on demand. Current deposits, demand liabilities portion of savings bank deposits, margins held against letters of credit/guarantees, balances in overdue fixed deposits, cash certificates and cumulative/recurring deposits, outstanding Telegraphic Transfers (TTs), Mail Transfer (MTs), Demand Drafts (DDs), unclaimed deposits, credit balances in the Cash Credit account and deposits held as security for advances which are payable on demand come under Demand Liabilities.
Time Liabilities: The liabilities which bank have to pay after specific time period. Fixed deposits, cash certificates, cumulative and recurring deposits, time liabilities portion of savings bank deposits, staff security deposits, margin held against letters of credit if not payable on demand, deposits held as securities for advances which are not payable on demand and Gold Deposits come under Time Liabilities.
78. What is REER Model in Currency Markets?
There is difference between the exchange rate of a currency and the real value of a currency. A Nominal Effective Exchange Rate (NEER) is weighted with the inverse of the asymptotic trade weights. A Real Effective Exchange Rate (REER) adjusts NEER by appropriate foreign price level and deflates by the home country price level. Thus REER model is more useful in determining the real value of a currency.
79. What is Alpha Factor in Financial Markets?
Alpha Factor is the concept which basically measures the inherent volatility of a particular share. For example, a share which has an Alpha Factor for example 1.5 is slated to rise in price by 50% in a year on its inherent strength such as growth in earnings per share , regardless of inherent strength such as growth in earning per share regardless of the market behavior.
80. Corporate Tax:
This tax is imposed on the profits of companies or organizations. It is also depend on the profits shared to the shareholders. Currently 33.9 % corporate tax is levied on the companies. But in Direct Tax Code, which is going to be implemented from 1 April 2011, it is proposed to be at 30%.
81. Capital Gain Tax
This tax is levied on the sale of capital assets/equities. The “Gain” here means the difference of price of asset/share when purchased and when sold. The tax is levied on that gain. For the Capital Assets the time limit is minimum three years but in the context of equities it is minimum one year.
82. Direct Taxes:
As the name suggests Direct tax means the tax which is directly paid to the government by individuals and the companies.
Ex: Corporate Tax, Personal Income Tax, Securities Transaction Tax, Banking Cash Transaction Tax, and the Fringe Benefit Tax
83. Indirect Taxes:
As the name suggests Indirect Taxes are those taxes which are paid indirectly to government by the individuals or the companies.
Ex: Sales Tax, Service Tax, Custom and Excise Duties, VAT and Anti-Dumping Duties
84. What is Security Transaction Tax?
Security Transaction Tax (STT) is levied on all the transactions done on the stock exchange. This tax is levied on purchase of equity, sale of equity, derivatives, equity oriented funds and equity oriented Mutual Funds. Current rate of this tax is 0.075% on equity.
85. What is Service Tax?
Service tax is tax paid on the services provided in the country. According to Finance Act 1994, all service provider of the country except in the Jammu and Kashmir have to pay service tax. This tax comes under Indirect Tax. Currently 10% tax is surcharged as service tax.
86. Excise Duty :
According to Central Excise act 1944 and the Central Excise Tariff Act 1985, every manufacturer of the goods in the country has to pay Excise duty. Most of the products attract 16% excise duty But in case of some products it more than that.
87. Custom Duty:
The custom duty in India is regulated by Customs Act of 1962. This duty is imposed on the imported and exported goods in the country. This duty is one of the most important duty because it hampers illegal import and export of goods
88. What is Fringe Benefit Tax?
This tax is imposed on the fringe benefits provided by the company to their employee. Here fringe benefit means non wage compensation which are given to employees by their company. This duty was initiated from 1 April 2005 under the Finance Act 1995.
89. Fiscal Policy:
All the policies taken by the Government to control the economy of the country are called Fiscal Policies. The two main instrument of fiscal policy are government expenditure and taxation. How government decides taxes, collect them and spend them comes under the fiscal policy. In broad level all the action done by government to maintain the economy is collectively called fiscal policy.
90. Monetary Policy:
The actions taken by Reserve Bank of India, which is the monetary authority, to control the economy is collectively called Monetary Policy. Time to time RBI makes changes in the various rates like CRR, Repo Rate, Reverse Repo Rate, SLR etc. to maintain the supply of money that is liquidity in the system.
91. Microeconomic Policy:
How the individual firms, markets, the households are using resources and making the country productive is being measured in Microeconomic policy. In these policies the centre of attraction is on very small level of the economy as it will collectively help the country to become more competitive.
92. Which Constitution amendment Bill seeks to add Service tax in Union List?
The 95th amendment in the Constitution brought Services in India under the purview of Value Added Tax system. Currently 10% tax is levied on the Services

Bank Name	Tag Or Punch Lines
Allahabad Bank	A tradition of trust
Andhra bank	Much more to do with you in focus
Bank of Baroda	India’s international bank
Bank of India	Relationships beyond banking
Bank of Maharashtra	One family one bank
Canara Bank	It is easy to change for those who you love
Central bank	Build a better life around Us
Dena Bank	Trusted Family Bank
Indian Bank	Taking banking technology to the common man
Indian Overseas Bank	Good people to grow with
Oriental bank of Commerce	Where every individual is committed
Punjab and Sind Bank	A government of India undertaking
Punjab National Bank	The name you can bank upon
Syndicate bank	Your faithful & friendly financial partner
State bank of India	Bank to every Indian
Union Bank of India	Good people to bank with
Uco bank	Honors your trust
United bank of India	The bank that begin with U
Vijaya Bank	A friend you can bank on

Bank of Rajasthan	Dare to dream
Citi Union Bank
Federal Bank	Your perfect banking partner
ING Vysya Bank
J&K Bank	Saving To Empower
Karnataka Bank	Your family bank across India
Karur Vysya Bank	Smart way to bank
Laxmi Vilas Bank
Nainital Bank	Banking with personal touch
Ratnakar Bank
Tamilnad Mercantile Bank	Customer oriented and committed to excellence

Development Credit bank
HDFC Bank	We Understand your world
ICICI Bank	Hum Hai Na.
IDBI Bank	Aao Sochein Bada
Kotak Mahindra Bank
Axis Bank
Yes Bank	Experience our expertise

Development Credit bank
HDFC Bank	We Understand your world
ICICI Bank	Hum Hai Na.
IDBI Bank	Aao Sochein Bada
Kotak Mahindra Bank
Axis Bank
Yes Bank	Experience our expertise

HSBC	The world’s local bank
Standard Chartered Bank
Citibank	Citi never sleeps --not used on the Indian website --
Bank of America
Santander
BNP Parisbas	The bank for a changing world
Lloyds TBS	For the journey

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Banking & Financial Awareness 92 Question