If you have landed to this page, we understand that you are appearing for promotion in your bank in 2020. And you are not sure about which topics are covered in bank promotion test. And you are looking for Free Study Material for Bank Promotion test in 2019. Study material for Read more…
Non Performing Assets – Prudential Norms Category Treated as NPA if: Term Loan Interest and/or installment of principal remain overdue for a period of more than 90 days Overdraft/ Cash Credit (OD/CC) accounts 1) The account remains out of order continuously for 90 days. 2) Drawings are allowed on DP Read more…
Bank and Customer Relationship Sl No Type of Transaction Bank Customer 1 Deposit a/c and Credit balance in CC/OD Debtor Creditor 2 Loan a/c and Debit balance in CC/OD Creditor Debtor 3 Collection of cheques, TT, MT, Standing Instructions, sale/ purchase of securities, Maintenance of currency chest Agent Principal 4 Safe custody Read more…
Nomination facility: Section 45 ZA to 45 ZF of the Banking Regulation Act, 1949 Procedures are given in Banking Companies (Nomination) Rules, 1985. Account holder can nominate any individual of his choice as nominee to receive money from the bank in case of death of the depositor. Nomination facility is Read more…
What is the Banking Ombudsman Scheme? The Banking Ombudsman Scheme provide forum to bank customers for resolution of complaints relating to banking services. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995. Who is a Banking Ombudsman? Read more…
In this series of study material for bank promotion, these are brief Notes on Banking Regulation Act. Read the underlined words carefully as they are important part of definition on which questions may be based. THE BANKING REGULATION ACT, 1949 Applicable to entire India Effective from 10.03.1949 Regulates all banking companies Read more…
Signing of an instrument on back, face or slip annexed to it for the purpose of negotiation. It can be endorsed by Drawer/ Maker, Holder or Payee is called endorsement under Negotiable Instruments Act, 1881. Person making endorsement is called ‘Endorser’ and to whom endorsement is made is called ‘Endorsee’. Read more…
As per Section 138 of Negotiable Instruments Act 1881, Cheque drawn for payment for discharge of any debt or other liability, is returned by the bank unpaid due to insufficient funds or exceeding the arrangement (in case of CC/OD account), such person is deemed to have committed an offence. Read more…
In this series, this is the study material for bank promotion (Notes on Negotiable Instruments Act). Read the underlined words carefully as they are important part of definition on which questions may be based. Negotiable Instrument Act 1881: Applicable to entire India including J&K. NI Act came into effect on 1st Read more…
Promissory note and Bill of Exchange are defined under Negotiable Instrument Act 1881 as under: Promissory note (Section 4) An instrument in writing (not being a bank-note or a currency-note) containing an unconditional undertaking, signed by the maker, to pay a certain sum of money only to, or to the Read more…