Banking System of India
A bank is a financial institution that provides banking and other financial services to their customers. A bank generally provides banking services such as accepting deposits and providing loans.
There are also non-banking institutions that provide certain banking services.
The following are functions of bank:
• To provide security to the savings of customers.
• To control the supply of money and credit.
• To encourage public confidence in the working of the financial system increase savings speedily and efficiently.
• To avoid focus of financial powers in the hands of a few individuals and institutions.
• To set equal norms and conditions (i.e.; rate interest, period of lending etc) to all types of customers.

Reserve Bank of India (RBI)
Reserve Bank of India Bank of India is the Central Bank of our country. On the recommendation Hilton Young Commission, it was established on 1st April 1935 and in 1949 it was nationalized. Reserve Bank is the Central Bank of India. RBI (Reserve Bank of India) is constituted under RBI act 1934, and started functioning on 1st April 1949 with a capital of Rs.5 crore. Central Banking Functions are as under Issue of Paper Currency: The Reserve Bank is one nation’s sole note issuing authority. Indian Currency System: The Present Monetary system of India is based on inconvertible paper Currency and is managed by the Reserve Bank of India. The Present currency system is based on Minimum reserve system, of note issue. It was adopted in 1957 under the minimum reserve system, minimum of Gold and foreign securities to the extent of Rs.200 crore (of which Gold should be value Rs.115 crore) and the balance in rupees securities maintained.

Important Function of the Reserve Bank Of India
As Central Bank —————–Function————–As an ordinary Bank
Note issuing Authority —————————————Granting short-term loans
Banker of Government —————————————Recovering short-term loans
Banker’s Bank ————————————————–Buying/ Selling of bills
Collects and Publishes Banking Data ——————- Accepting Deposits
Custodian of Foreign Exchange Reserves———– Buying and selling of agricultural bills
Provision of Agricultural Credit ————————-Dealing with foreign Securities
Provision of industrial Credit—————————- Dealing with costly metals
Training Facilitation —————————————Dealing with banks of other countries
Controller of Credit
Clearing House Function

First Governor Of RBI:- Sir Osborne Smith
Current Governor Of RBI:- Dr. Raghuram Rajan.
Banker of the Government: The RBI deals as an agent of the Central and State Governments. It Performs various banking functions such as to accept deposits, taxes and make payments on Behalf of the government.
Banker of Bank and Lender of the Last Resort: RBI acts as a banker for all the commercial banks. All scheduled banks come under the direct control of RBI and follow the Rules and Regulation of RBI.
By performing the following functions, the RBI helps the member bank significantly.
• It acts as the lender of the last resort
• It is the custodian of cash reserves of commercial banks.

ACD – Accredited Clients Program
ACTPN – advisory committee for trade policy and negotiations
AEO – Authorised Economic Operator
AFI – Athletics federation of India
AFSPA – Armed forces special powers act
AFSPA – Armed force special Power act
AIIB – Asia infrastructure investment Bank
AIM – Atal innovation mission
AOP – Air operator Permit
BDL – Bharat Dynamic Limited
BIFR – Bureau for industrial and financial reconstruction
BRC – Bank Realization Certificate
CAGR – compound annual growth rate
CARE – crew model atmospheric re-entry experiment
CCEA – cabinet committee on economic affairs
CCEA – cabinet committee on Economic Affairs
CCI – competitive commission of India
CCP – Custom Clearance Permit
CCTNS – Crime and criminal tracking network system
CEIB – Central economic Intelligence Bureau
CPCB – Central pollution Promotion Board
CPGRAMS – centralized public grievance and monitoring system
CRZ – Coastal regulatory zone
CSS – central sponsor schemes
DAC– Defence acquisition council
DAVP – directorate of audio visual publicity
DBT – Direct benefit transfer
DBTL – direct benefit transfer of LPG
DCCO – data of commencement of commercial operations
DGFT – Director General of Foreign Trade
DIAL – delhi international airport limited
DIPP – department of industrial policy & promotion
ECB – External commercial borrowings
ECIL – Electronic Corporation of India Limited
Eco Soc – Economic Social Council
EPIC – electro photo identity card
ETF – Exchange Traded Fund
EZs – Exclusion Zones
FFFAI – federation of freight forward association of India

FIBA – federation of international basket ball association
FIEO -federation of Indian exports Organisation
FIPB – Foreign investment promotion board
FIPB – Foreign Investment Promotion Board
FIU – Financial intelligence units
FMC – Forward Market Commission
FPIs – Foreign Portfolio Investors.
FPIs – Foreign portfolio investors
FRBM – Fiscal responsibility and budget management
FRP – Fair Price Remunerative
FTAAP – Free trade area for Asia-pacific
GAAR – General anti avoidance rule
GCTOC – Gujarat Control Of Terrorism and organised crime
GIFT – Gujarat international Finance tech-city
GIIC – Guizhou maritime silkroad international investment corporation
GMS – Gold monetized scheme
IAMAI – Internet and mobile assocaition of india
ICBM – Intercontinental ballistic missile
IEDs – improvised Explosive Devices
IFSC – international finance Service Centre
IGMDP – integrated Guided Missile Development Programme
IMEI – international mobile equipment identity
INDCs – Intended Nationally Determined Contribution
INSTC – International north south transport corridor
InvITs – Infrastructure Investment Trusts.
IPCC – International panel for climate changes
IREDA – Indian renewable energy development agency
IRNSS – Indian Regional Navigation Satellite System
ISSF – international shooting sport federation
ITR – Income Tax Returns.
JAM – jandhan yojana aadhaar mobile number
LARR – land acquisition rehabilitation and resettlement
LCA – light combat aircraft
LEA – loss of ecology authority
MAI – Market Access Initiative
MAT – Minimum Alternate Tax
MEIS – Merchandise exports from India scheme
MEIS – Merchandise Export from India Scheme
MIAL – Mumbai international airport limited
MII – MAKE in INDIA
MPC – Monetary policy committee
MSP – Minimum support price
MUDRA – multi units development and refinance agency
NERPAP– National Electoral Roll Purification and Authentication Programme
NALSA – National Legal Services Authority
NASSCOM – National Association Of Software and Services Companies
NASSCOM – National Association of Software & Services companies
NBT – National Book Trust
NDB – new development bank
NDLM – National digital literacy mission
NDRF – National disaster response fund
NFC – near field communication
NFE – Net Foreign Exchange
NFTP – New Foreign trade policy
NGT– national green tribunal
NIIF – national investment infrastructure fund
NIIF – National Investment and Infrastructure fund
NJAC – national judicial appointment commission
NMDA – national disaster management act
NOFNP – National optic fiber network programme
NPCI – National payment commission of India
NRI – Nonresident Indian
NSFR – Net stable funding ration
NTCA – National tiger conservation authority
OCI – Overseas citizens of India
OMCs – Oil marketing companies
OPCW – Organization for the Prohibition of Chemical Weapons
OROP – One Rank One Pension
PAT – Profit After Tax
PCI – Paraolympic committee of India
PDMA – public debt management act
PHWRs – Pressurised heavy water reactors
PIO – person of Indian origin
PIT – Prohibition of insider trading
PMG – project monitoring group
POTA – prevention of terrorism Act
PSKs – Pass port seva Kendra
PSLCs – Priority sector lending certificates
QIP – Qualified intuitional placement
REITs – Real Estate Investment Trusts
RFA – Red Flag Account
RNI – Registate of newspapers of India
RPA – Rupee payment Area
RRAI – railway regulatory authority of India
SaaS – Software as a Service
SAC – Space Application Centre
SAI – sports authority of India
SAT– Securities Appellate Tribunal
SDRF – state disaster response fund
SEIS – Services exports from India scheme
SEIS – Service export from India Scheme
SETU – self employment and talent utilization
SLACC – sustainable livelihoods and adaption to climate change
SPV – special purpose vehicles
STC – State Trading corporation
STPs – sewage treatment plants
SWFs – Sovereign Wealth Funds
TADA – Terrorist and disruptive activities act
TFA – Trade Facilitation Agreement
TPO – Trade Promotion Organization
TRAI – telecom regulatory authority of india
TRANSLOC – Transport logistic corporation of India
TReDS – Trade Receivables Discounting System
UAC – Unit Approval Committee
UCC– Union carbide corporation
ULFA – United liberation front of ASOM
UPSI – Unpublished price sensitive information
VSAT – very small aperture terminal
WCO – World Custom Organization
WGEEP – Western Ghats ecology expert

Q.1) MP is related to HK, in the same way HK is related to _______?
a) CE
b) CF
c) CG
d) DG
e) None of these
Q.2) In a certain code MUMBAI is written as NFNYZR, how THANE is written in that code.
a) VMZSG
b) GSZMV
c) ENAHT
d) AHTEN
e) None of these
Q.3) In a certain code, DOMAIN is written as CNLZHM. How is STREAM written in that code?
a) RSQDZL
b) TUSFBN
c) UTSFBN
d) LZDQSR
e) None of these
Q.4) If PRISM is written as OSHTL and RUBLE is written as QVAMD. How will WHORL is written in that code?
a) XIPSM
b) VGNQK
c) UINSK
d) XGPQM
e) VINQK
Q.5) In a certain code, GARNISH is written as RGAINHS. How Will GENIOUS be written in that code?
a) NEGOISU
b) NGEOIUS
c) NGESUOI
d) NEGSUOI
e) None of these
Q.6) In a certain code COMPUTER is written MOCUPRET, in the same way PRODUCTS is written as
a) UDSTCORP
b) ORPUDSTC
c) PUDSTCOR
d) RODUCTSP
e) None of these.
Q.7) In a certain code TEMPORAL is written as OLDSMBSP. How is CONSIDER written in that code?
a) RMNBSFEJ
b) BNMRSFEJ
c) RMNBJEFS
d) TOPDQDCH
e) None of these
Q.8) In the word MELODRAMATIC, position of 1st and 7th letter is interchanged, similarly 2nd to 8th and so on till after arrangement. What is the position of 5th element from the right end?
a) E
b) G
c) K
d) M
e) None of these
Q.9) If “red means white” “White means black” “Black means yellow” “Yellow means green” “Green means blue” “Blue means indigo” then which of the following will represent the color of the “sunflower”.
a) Sky
b) Green
c) Yellow
d) Blue
e) None of these.
Q.10) If in the word, DOCUMENT, all the vowels are first arranged alphabetically followed by the entire consonant arranged alphabetically then which letter is fifth from right?
a) U
b) D
c) M
d) N
e) None of these

Answer:
1. b) 2. b) 3. a) 4. e) 5. e) 6. b) 7. a) 8. a) 9. b) 10. b)