SARFAESI Act

 The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, allows banks and financial institutions to auction properties (residential and commercial) when borrowers fail to repay their loans. It enables banks to reduce their non-performing assets (NPAs) by adopting measures for recovery or reconstruction.

When do properties fall under this Act?
If a borrower defaults on repayment of his/her home loan for six months at stretch, banks give him/her a 60-day period to regularise the repayment, that is, start repaying. On failure to do so, banks declare the loan an NPA and auction it to recover the debt.

IBPS Clerk Mains- Banking Awareness Quiz Collection

Dear Readers, Banking Awareness Questions play important role in IBPS Clerk-V Mains Exam. Around 50-60% of questions in IBPS Clerk-V Mains comes from Banking Awareness which includes recent Banking updates also.

Try to understand Banking Awareness questions collection given in this post. Questions Collection consist of more than 300 questions

Banks And their Headquarters

Banks	Headquarters
Delhi	1.       Punjab National bank 2.       Punjab and sind bank 3.       Bharatiya Mahilla Bank 4.       Oriental Bank of Commerce(Gurgaon)
Mumbai	1.       Bank of India 2.       Union Bank 3.       IDBI 4.       ECGC 5.       Dena Bank 6.       Central Bank of India
Bangalore	1.       Canara Bank 2.       Vijaya Bank 3.       Syndicate bank(Manipal) 4.       Corporation Bank(Mangalore)
Kolkata	1.       Uco bank 2.       Allahabad bank 3.       United Bank
Vadodara	1.       Bank Of Baroda
Chennai	1.       Indian Overseas Bank 2.       Indian Bank
Pune	1.       Bank of Maharshtra

One Liners of Banking Awareness

o    RBI is the Central bank of India
o    RBI was setup on the recommendations of Royal Commission on Indian Currency and Finance also known as the Hilton- Young Commission.
o    RBI has 4 regional offices at Mumbai, Kolkatta, Chennai and Delhi.
o    The head office of RBI is located at Mumbai.
o    Currency notes other than one rupee notes are issued by RBI.
o    Scheduled commercial banks are included in the second schedule to the RBI act 1934.
o    Schedule commercial banks are- SBI and its associates, Nationalized banks, private sector banks, regional rural banks, urban cooperative banks, state cooperative banks.

Banking terms

Cheque: Cheque is a negotiable (which can be transferred to another person in exchange of money) instrument drawn on a specified banker ordering the banker to pay a certain sum of money to the drawer of cheque or another person. Cheque is always payable on demand.

Types of Cheque:
 i. Ante Dated Cheque: A cheque bearing a date prior to actual date of signing the cheque or opening of an account is called an ante dated cheque which is valid and can be paid till it become stale.

important Banking Terms

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1.what is bank?
A bank is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. A bank links together customers that have capital deficits and customers with capital surpluses.