CAIIB HRM A-Z GUIDE

HERE SHARING IMPORTANT LINKS OF CAIIB HRM.

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CAIIB RETAIL A-Z GUIDE

HERE SHARING IMPORTANT LINKS OF IMPORTANT POSTS FOR  CAIIB RETAIL.

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Frequently asked Questions on Prevention On Money Laundering.

Here Sharing a link of PDF on Frequently asked Questions on Prevention On Money Laundering.

Very useful for the basic knowledge

Relevancy : AML/KYC, JAIIB

Frequently Asked Questions Regarding Anti-Money Laundering (AML)

1) What is Money Laundering?

Money Laundering is the process by which, criminals attempt to make the proceeds of crime appear legitimate with no obvious links to their criminal origins. This is achieved by three processes:

1. Placement – Placing of the proceeds of crime
2. Layering – Hiding of the proceeds from their criminal origin by ‘layers’ of transactions
3. Integration – Creating a legitimate explanation for the proceeds

2) Who needs to perform Anti-Money Laundering checks?
Solicitors, accountants, tax advisors, insolvency practitioners, financial institutions, credit institutions, estate agents, chartered surveyors, trust/service providers, gaming companies and high value dealers with the potential for a business relationship worth over 15,000 Euros, such as automotive dealers and jewellers.

3) Why do I need to perform Anti-Money Laundering checks?

The Anti-Money Laundering regulations are governed by 4 Acts: The Proceeds of Crime Act, The Serious Organised Crime and Police Act, The Terrorist Act and the Money Laundering Regulations. . Failure to report suspicious activity can carry a criminal sentence and lead to substantial fines from the relevant regulatory body.

4) I have dealt with my clients for many years , do I still need to carry out Customer Due Diligence?

You need to keep CDD up-to-date for all your clients. You may  have sufficient documentary ID details on your files but if there has been any subsequent change to their circumstances or risk profile, you should update your CDD. It is advised to review clients’ CDD on a regular basis.

5) Who enforces the Anti-Money Laundering regulations?

The AML regulations are enforced by a range of regulatory bodies. Guidelines are set by the JMLSG (Joint Money Laundering Steering Group) and enforced by the FCA/PRA (Financial Conduct Authority/ Prudential Regulation Authority), the SRA (Solicitors Regulation Authority in England), OFT (Office of Fair Trading), HMRC (HM Revenue & Customs), ICAEW (Institute of Chartered Accountants in England & Wales, plus other Accountancy bodies), RICS (Royal Institute of Chartered Surveyors) and more.

6) What is Electronic Verification?

In order to prevent fraud and money laundering it is important to verify individuals carrying out financial transactions. Previously documentary evidence was relied on to verify an individual. These may not always be available and they can also be easily forged or altered therefore electronic verification provides extra security and reduces risk against money laundering and fraud.

Electronic verification removes the need for the customer to be present, this saves time and helps support customer relationship building. The risk of money laundering is reduced as several data sources are called upon to verify the customer rather than just relying on documentary evidence.

7) If I collect Passports and Driving Licences, why do I need to check anything else?
EV can check a wider range of information, thus providing a more thorough knowledge of your client (KYC – Know Your Customer). In addition, it can also enable you to check other data sets such as PEPS and Sanctions lists, which is advisable and specified by the 3rd European Money Laundering Directive. 
With fraudulent documentation on the rise, there is a need to refocus efforts on identifying them. Electronic verification is designed to remove the risk of receiving potentially fraudulent documents; therefore you can have a greater level of confidence in their authenticity. Various checks are carried out on the documents to confirm as much as possible, therefore reducing the risk of ID fraud.

8) Online systems are too expensive, what if I cannot afford it?

There are often hidden costs associated with taking paper documents, which are not always immediately recognisable. For example, if dealing with a client at distance, the posting through of important documents by recorded delivery in order to ensure they do not get lost carries a charge, which is often more than the cost of an electronic search. If the documents are then lost, there is then the cost of replacing the documents for your potential client. This may also be more time-consuming as a process, but by performing a quick electronic search, could this then allow for more searches to be performed and in turn, increase the number of clients taken onboard?

9) Why are you allowing me to see sensitive information?

The information held in electronic systems is consented for use in these systems. For an AML check, the Full Electoral Roll is allowed for this purpose and this is covered in the Representation of the People Act (2002). When a Credit Reference Agency (CRA) utilises financial records in an AML check, it does not show any financial details, apart from the information necessary to ID someone.

10) What are Politically Exposed Persons, Specially Designated Nationals and Financial Sanctions and why do I need to check them?
It is recommended by the 3rd European Money Laundering Directive  to have a procedure in place to check PEPs, SDNs and the HMT Financial Sanctions.  A PEP is a Politically Exposed Person, and is someone who holds a prominent public position, or an individual linked to them. An SDN is a Specially Designated National , on a list which specifies that US Citizens are not permitted to conduct business with them. The HM Treasury Financial Sanctions list specifies individuals with whom it is prohibited to transfer or make funds available to.

What is Money Laundering ??

Money laundering is an act of converting illegal money to legal money. By illegal money we mean the money which has come from illegal sources of earning money like smuggling, any terrorist activity, drug trade, etc.

A person who is found having money from illegal sources can be made to go to prison, or any other liable punishment. So the persons or rather criminals try to convert their illegal money to legal money so that their money appears clean which is known as money laundering.

The banks have also been directed to look into this matter like if they find any suspicious activity in an account or there is huge transaction of money from an account, etc.
There are three stages in which money laundering is done which we will discuss later.

Before that some of the methods of converting illegal money to legal money as the criminals follow include

• doing investments in property or any business,
• multiple transfers of money in various bank accounts or from one place to another,
• used for purchasing foreign currency and then  back to own currency,
• repayment of loans and credit cards,
• through political parties, corporate companies and the shares market, etc.

The three stages of money laundering are:

• Placement Stage: As the name suggests, the first stage is pacing the money into the system by the methods provided above. Placing money in bank accounts, smuggling money to abroad, etc.
• Layering Stage: The main aim of this stage is to separate the illegal company from its source. In this stage the money placed in transferred to other accounts. The money is then distributed among various investments, like some in a business, some in charity, investments in share markets, etc.
• Integration Stage: Integration means joining. So in last stage of money laundering, the whole illegal money which was divided at various places in layering stage starts getting integrated into a single account so that the money now appears to have come from legal sources i.e. from businesses in the country, from share markets, any profits, etc.

If the money reaches the last stage, it appears to have come from legal sources and does not draw any attention of being illegal money.

To study the issue, in 2002, an act was passed by the Parliament of India called the Prevention of Money laundering Act 2002.

According to Section 3 of the act: “Whosoever directly or indirectly attempts to indulge or knowingly assists or is involved in any process or activity connected with the proceeds of crime and is projecting it as the untainted property shall be guilty of the offence of money laundering”.

A step to prevent money laundering is Know Your Customer (KYC) policy. The KYC helps to ensure that banks’ services are not misused.

IIBF AML/KYC A-Z Guide

Here sharing important links of AML/KYC Certification Exam.

Happy Reading :)

AML/KYC Mix Questions

This post will be updated with time with addition of more questions . 

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FULL FORMs:  FATF, AML, CET, CDD, PMLA, CIP, FIU IND

FATF : Financial Action Task Force
AML : Anti Money Laundering
CFT : Combatting Financing of Terrorism
CDD: Customer Due Diligence
PMLA : Prevention of Money Laundering
CIP : Customer Identification Procedure
FIU IND : Financial Intelligence Unit India

RBI Master Direction - Know Your Customer (KYC) Direction, 2016

SOURCE : RBI 

DIRECT LINK : CLICK HERE

DOWNLOAD LINK : CLICK HERE

RBI Master Circular – Know Your Customer (KYC) norms / Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under PMLA, 2002

Here sharing RBI MASTER CIRCULAR – Know Your Customer (KYC) norms / Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under PMLA, 2002

SOURCE: RBI WEBSITE

DOWNLOAD LINK

LINK OF OTHER MASTER CIRCULARS : CLICK HERE

BANKING MATERIALS : SEBI The Securities and Exchange Board of India

SEBI   The Securities and Exchange Board of India

The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India

 "Its Basic function is to protect the interests of investors in securities and to promote the development, and to regulate the securities market and for matters connected there with or incidental there to"

The Securities and Exchange Board of India was established on April 12, 1992 in accordance with the provisions of the Securities and Exchange Board of India Act, 1992.

SEBI has to be responsive to the needs of three groups, which constitute the market:

The issuers of securities

The investors

The market intermediaries.

BANKING MATERIALS : SCHEMES RELATED TO BANKING

Pradhan Mantri Jan Dhan Yojana (PMJDY)

Hon’ble Prime Minister announced Pradhan Mantri Jan Dhan Yojana as the National Mission on Financial Inclusion in his Independence Day address on 15th August 2014, to ensure comprehensive financial inclusion of all the households in the country by providing universal access to banking facilities with at least one basic bank account to every household, financial literacy, access to credit, insurance and pension facility. Under this, a person not having a savings account can open an account without the requirement of any minimum balance and, in case they self-certify that they do not have any of the officially valid documents required for opening a savings account, they may open a small account. Further, to expand the reach of banking services, all of over 6 lakh villages in the country were mapped into 1.59 lakh Sub Service Areas (SSAs), with each SSA typically comprising of 1,000 to 1,500 households, and in the 1.26 lakh SSAs that did not have a bank branch, Bank Mitras were deployed for branchless banking.

Thus, PMJDY offers unbanked persons easy access to banking services and awareness about financial products through financial literacy programmes. In addition, they receive a RuPay debit card, with inbuilt accident insurance cover of Rs. 1 lakh, and access to overdraft facility upon satisfactory operation of account or credit history of six months. Further, through Prime Minister’s Social Security Schemes, launched by the Hon’ble Prime Minister on 9th May 2015, all eligible account holders can access through their bank accounts personal accident insurance cover under Pradhan Mantri Suraksha Bima Yojana, life insurance cover under Pradhan Mantri Jeevan Jyoti Bima Yojana, and guaranteed minimum pension to subscribers under Atal Pension Yojana.

PMJDY was conceived as a bold, innovative and ambitious mission. Census 2011 estimated that out of 24.67 crore households in the country, 14.48 crore (58.7%) had access to banking services. In the first phase of the scheme, these households were targeted for inclusion through the opening of a bank account within a year of the launch of the scheme. The actual achievement, by 26th January 2015, was 12.55 crore. As on 29.3.2017, the number of accounts has grown to 28.17 crores. Further, in 2011, only 0.33 lakh SSAs had banking facility and through the provision of Bank Mitras in 1.26 lakh branchless SSAs, banking services were extended throughout rural India. The inclusive aspect of this is evident from the fact that 16.87 crores (60%) of PMJDY accounts are in rural areas and 14.49 crore (over 51%) PMJDY account holders are women.

The deposit base of PMJDY accounts has expanded over time. As on 29th March 2017, the deposit balance in PMJDY accounts was Rs. 62,972 crore. The average deposit per account has more than doubled from Rs. 1,064 in March 2015 to Rs. 2,235 in March 2017.

The Bank Mitra network has also gained in strength and usage. The average number of transactions per Bank Mitra, on the Aadhaar Enabled Payment System operated by Bank Mitras, has risen by over eightyfold, from 52 transactions in 2014-15 to 4,291 transactions in 2016-17.

From Jan Dhan to Jan Suraksha- 

For creating a universal social security system for all Indians, especially the poor and the under-privileged the Hon’ble Prime Minister launched three Social Security Schemes in the Insurance and Pension sectors on 9th of May 2015.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)-

The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join /enable auto-debit. Aadhar is the primary KYC for the bank account. The life cover of Rs. 2 lakh is for the one year period stretching from1st June to 31st May and is renewable. Risk coverage under this scheme is for Rs. 2 lakh in case of death of the insured, due to any reason. The premium is Rs. 330 per annum which is to be auto-debited in one installment from the subscriber’s bank account as per the option given by him on or before 31st May of each annual coverage period under the scheme. The scheme is being offered by the Life Insurance Corporation and all other life insurers who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose. As on 31st March 2017, cumulative gross enrollment reported by banks subject to verification of eligibility, etc. is over 3.10 crore under PMJJBY. A total of 62166 claims were registered under PMJJBY of which 59118 have been disbursed.

Pradhan Mantri Suraksha Bima Yojana (PMSBY)- 

The Scheme is available to people in the age group 18 to 70 years with a bank account who give their consent to join/ enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis. Aadhar would be the primary KYC for the bank account. The risk coverage under the scheme is Rs. 2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability. The premium of Rs.12 per annum is to be deducted from the account holder’s bank account through ‘auto-debit’ facility in one installment. The scheme is being offered by Public Sector General Insurance Companies or any other General Insurance Company who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose. As on 31st March 2017, cumulative gross enrolment reported by Banks subject to verification of eligibility etc. is over 9.94 crore under PMSBY. A total of 12,534 Claims were registered under PMSBY of which 9,403 have been disbursed.

Atal Pension Yojana (APY)- 

APY was launched on 9th May 2015 by the Prime Minister. APY is open to all saving bank/post office saving bank account holders in the age group of 18 to 40 years and the contributions differ, based on pension amount chosen.  Subscribers would receive the guaranteed minimum monthly pension of Rs. 1,000 or Rs. 2,000 or Rs. 3,000 or Rs. 4,000 or Rs. 5,000 at the age of 60 years. Under APY, the monthly pension would be available to the subscriber, and after him to his spouse and after their death, the pension corpus, as accumulated at age 60 of the subscriber, would be returned to the nominee of the subscriber. The minimum pension would be guaranteed by the Government, i.e., if the accumulated corpus based on contributions earns a lower than estimated return on investment and is inadequate to provide the minimum guaranteed pension, the Central Government would fund such inadequacy. Alternatively, if the returns on investment are higher, the subscribers would get enhanced pensionary benefits.

In the event of premature death of the subscriber, Government has decided to give an option to the spouse of the subscriber to continue contributing to APY account of the subscriber, for the remaining vesting period, till the original subscriber would have attained the age of 60 years. The spouse of the subscriber shall be entitled to receive the same pension amount as that of the subscriber until the death of the spouse. After the death of both the subscriber and the spouse, the nominee of the subscriber shall be entitled to receive the pension wealth, as accumulated till age 60 of the subscriber. As on 31st March 2017, a total of 48.54 lakh subscribers have been enrolled under APY with a total pension wealth of Rs. 1,756.48 crore.

Pradhan Mantri Mudra Yojana- 

The scheme was launched on 8th April 2015. Under the scheme a loan of upto Rs. 50,000 is given under sub-scheme ‘Shishu’; between Rs. 50,000 to 5.0 Lakhs under sub-scheme ‘Kishore’; and between 5.0 Lakhs to 10.0 Lakhs under sub-scheme ‘Tarun’.Loans taken do not require collaterals. These measures are aimed at increasing the confidence of young, educated or skilled workers who would now be able to aspire to become first generation entrepreneurs; existing small businesses, too, will be able to expand theirs activates. As on 31st March 2017, Rs. 1,80,528.54 crores sanctioned (Rs. 85,100.74 cr. - Shishu, Rs. 53,545.14 cr. Kishore and Rs. 41,882.66 cr. - Tarun category), in 3,97,01,047 accounts.

Stand Up India Scheme- 

The government of India launched the Stand Up India scheme on 5th April 2016. The Scheme facilitates bank loans between Rs.10 lakh and Rs.1 crore to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one Woman borrower per bank branch for setting up greenfield enterprises. This enterprise may be in manufacturing, services or the trading sector. The scheme which is being implemented through all Scheduled Commercial Banks is to benefit at least 2.5 lakh borrowers. The scheme is operational and the loan is being extended through Scheduled Commercial Banks across the country.

Stand Up India scheme caters to promoting entrepreneurship amongst women, SC & ST category i.e those sections of the population facing significant hurdles due to lack of advice/mentorship as well as inadequate and delayed credit. The scheme intends to leverage the institutional credit structure to reach out to these underserved sectors of the population in starting greenfield enterprises. It caters to both ready and trainee borrowers.

To extend collateral free coverage, Government of India has set up the Credit Guarantee Fund for Stand Up India (CGFSI). Apart from providing credit facility, Stand Up India Scheme also envisages extending hand-holding support to the potential borrowers. It provides for convergence with Central/State Government schemes. Applications under the scheme can also be made online on the dedicated Stand Up India portal (www.standupmitra.in). As on 29.03.2017, Rs. 5,237.29 crore has been sanctioned in 25,435 accounts (20,305 – women, 1,086-ST and 4,044 – SC).

Pradhan Mantri Vaya Vandana Yojana- 

Based on the success and popularity of Varishtha Pension Bima Yojana 2003 (VPBY-2003), Varishtha Pension Bima Yojana 2014 (VPBY-2014) schemes, and to protect elderly persons aged 60 years and above against a future fall in their interest income due to the uncertain market conditions, as also to provide social security during old age, it has been decided to launch a simplified scheme of assured pension of 8% called the ‘प्रधानमंत्री वय वन्दना योजना’. This is implemented through Life Insurance Corporation (LIC) of India.  As per the scheme, on payment of an initial lump sum amount ranging from a minimum purchase price of Rs. 1,50,000/- for a minimum pension of Rs 1,000/- per month to a maximum purchase price of Rs. 7, 50,000/- for the maximum pension of Rs. 5,000/- per month, subscribers will get an assured pension based on a guaranteed rate of return of 8% per annum, payable monthly.

CAIIB BFM :DGFT

• DGFT India - Director General of Foreign Trade provides a set of guidelines and framework for importers and exporters wanting to trade in India. 
• DGFT IEC stands for Importer Exporter Code issued by DGFT.
• Any bonafide person/ company starting a venture for International trade requires DGFT IEC. 
• The guidelines are set by DGFT India -Director General of Foreign Trade.
• Presently DGFT India office is presided over by Mr. P.K. Chaudhery, Director General Of Foreign Trade. 
• The DGFT forms can be obtained from the DGFT offices in various zones.
• DGFT Delhi is located at IP Bhawan , New Delhi and all DGFT 
• DGFT India Foreign Trade enables companies to acquire benefits on their imports, exports, customs, exports promotion council etc.
• DGFT India is laying stress on the development of foreign trade in the country in the recent years. This is because foreign trade is gaining immense importance in the country by the day.
• DGFT views this as a national priority in terms of gaining economic as well as overall growth.

BFM UNIT : 5 Facilities for Exportors and Importors

Post will be updated from time to time with addition of new questions. Keep reading :)

1. Foreign exchange is controlled by ?
Ans- RBI

2. Foreign Trade is controlled by ?
Ans- DGFT

3. DGFT Full form?
ans- Directorate General of Foreign Trade

4. EXIM policy is implemented by whom??
Ans- DGFT

5. IEC Full Form ?
Ans- Importor Exportor Code

6. Which code is necessay for importors and exportors?
Ans- IEC Code

7. EDF full form?
Ans- Electronic Declaration Form

8. Export of software is done in which form?
Non physical form
Physical form
Ans..non physical form

9. EDF replaced what ??
Ans-GR form

10. The commissioner of customs will handover which document in the form of EDF to authorized dealer?
Ans-Exchange control copy

11. Upto what amount goods accompnied by a declaration by the exportor are exempted from export declaration form?
Ans- 5 lakh rupees in value

12. The exportor is required to submit the export documents along with the duplicate /exchange control copy of EDF form within how many days if import?
Ans- 21 days

13. The amount representing the full export value of goods or services exported shall be realised and repatriated to India within how much time from the date of export?
A. 1 year
B. 9 months
C. 21 days
D. 2 years
Ans- b

14. EOU full form?
Export orinted units

15. EHTP full form?
Ans- Electronics Hardware Technology Park

16. STP and BTP are defined where?
Ans - Foreign Trade Policy

17. STP full form?
Ans - Software Technology Parks

18. BTP full form?
And- Bio Technology Parks

19. ACU full form?
Ans- Asian Clearing Union

20. Name of ACU countries?
Ans- Bangladesh,Burma Myanmar,Islamic Republic of Iran ,Pakistan,Sri Lanka,repulbic of Maldives

21. Export Declaration Form used for banks, other than by post are called:
a. PP Forms
b. PR Forms
c. EDF Forms
d. RR Forms
Ans- c

22. Payments are received by ADs in the form of a special dollar accounts in case of ACU countries. which of the following is such a currency :
a. ACU Dollar Only
b. ACU Pound Only
c. ACU Euro Only
d. ACU Dollar/ ACU Euro
Ans- d

23. The export declaration form used for software in non physical form is :
a. SE1
b. SE2
c. Softex
d. Software
e. COD
Ans- c

24. A status holder can avail the normal repatriation period for export proceeds to India up to :
a. 365 days
b. 300 days
c. 270 days
d. 225 days
e. 200 days
Ans- a

Correct me for any any mistake .

CAIIB ABM CASE STUDY COLLECTION

Here sharing link of case study of abm by murugan sir.

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CAIIB RETAIL MURUGAN MCQ COLLECTION

Here sharing murugan mcq collection for CAIIB RETAIL

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CAIIB HRM : MURUGAN MCQ COLLECTION

Here sharing murugan sir hrm collection for CAIIB.

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CAIIB ABM : Laissez Faire

Laissez Faire

An economic theory from the 18th century that is strongly opposed to any government intervention in business affairs.

Sometimes referred to as "let it be economics." People who support a laissez faire system are against minimum wages, duties, and any other trade restrictions.

Laissez faire is French for "leave alone."

CAIIB BFM : UNIT 4 Documentary Letters of Credit

More questions will be updated later from time to time. Keep reading :)

1. UCPDC full form ?
Ans- Uniform Customs and Practices For Documentary Credits

2. ICC Full form ??
Ans- International Chamber of Commerce

3. Headquaters of ICC??
Ans- Paris

4. First UCPDCwas published in which year?
Ans- 1933

5. Latest UCPDC was published in which year?
Ans- 2007

6. updated UCPDC in 2007 is called what??
Ans- UCPDC 600

7. UCPDC was implemented on ??
Ans- 1.7.2007

8. ..... LC can be amended or cancelled at any moment by issuing bank without the consent of any other party?
Ans- Revocable LC

9. ..... LC holds a commitment by the issuing bank to pay or reimburse the negotiating bank,provided conditions of the LC are complied with ??
Ans- Irrevocable LC

10. ..... LC is an unconditional undertaking by the issuing bank to make payment on submission of documents confirming to the terms and conditions of the LC
Ans- Irrevocable LC

11. Change in number of articles in UCPDC 600??
a) 49 to 39
b) 39 to 49
c) 36 to 46
d) 42 to 49
Ans- 49 to 39

12. What is 600 in UCPDC?
Ans- Publication Number

13. As per UCPDC , the issuing bank has .......... banking days to accept or refuse the documents drawn under LC.
Ans- 5 banking days

14. INCOTERM full form??
Ans- International Commercial Terms

15. ucp norms is max ............days aftr shipment date for presentation of documents
Ans-21

16. which clause related to riots, acts of god??
Ans- Force Majeure

17. UCPDC is :

a) SET of rules applicable to cctransactions
b)set of rules having 500 articles
c) set of rules framed by ICC governing LC business globally
d) set of universaly applicable rules governing LC business in INDIA only

Ans- c

18. ICC is ::
a) the issuer of the LC under UCPDC
b) The trade body governing the UCPDC rules
c) A trade for Indian exporters helping to increase exports
d) The confirming bank, which governs rules for LC drawn under UCPDC

Ans- b

19. In an LC transaction,following parties are not involved...
a) The exporter
b) The Issuing bank
c) The advising bank
d) The opening banks representative office in beneficiary's country, who helps source business for the issuing bank

Ans- d

20. Which of the following issues LC?
a) sellers bank
b)buyers bank
c Negotiating bank
d)Advising bank

Ans- b

21. The beneficiary of an LC insists that another bank should give gurantee for payments to the opening bank . Which type of LC will be opened?
a)condirmed lc
b) Restricted LC
c) Standby LC
d) Transferable LC

Ans- a

22. When a bank in India binds itself to honour the drafts drawn by the beneficiary of the LC without recourse to it, this gurantee is known as ....
a. packing credit insurance
b. export finance gurantee
c. transfer gurantee
d. exchange fluctuation risk cover scheme

Ans- c

23. w.e.f 01.07.2007, which will be applicable for foreign LC
a. UCPDC - 400
b. UCPDC 600
c. UCPDC 500
d. UCPDC 700

Ans- b

24. Normally , who will request for the confirmation of LC from the confirming bank ?
a. Exporter
b. Importer
c. Opening bank
d. Advising Bank

Ans- c

25. ICC is ........... Governing the UCPDC rules
a. statuory
b. Non statuory
c. Trade body
d. Self Oriented body

Ans- c

Please correct me in case of any mistake. Happy reading :)

IIBF EXAM REVIEW : CYBER CRIME 23 July 2018

Please read diff type of controls

Digital signature, fines imposed

How many keys are involved in symmetric encryption

Diff between virus and worm

Phishing, stuxnet

Which technology is used to ensure that only authorised person can read the message?

Why hashing is used?

Netra was developed by?

Cyber crime is monitored by?

Who communicated with interpol?

Fine for noncompliance of guideline?

Cyber stalking, cyber terrorism

Hacking definition

Stylomery,

Ways to give strong password

Technology used to tackle keylogger

Blue hat hacker, white hacker

SQL injection

Where antivirus is placed

Smoke detector is IPS or IDS?

Rupay

Drone is developed by

5/7 case studies

Which card can't be skimmed

Card jamming

IT act 2000 and 2008 diff

Script kidder

Which virus attacked Microsoft in 2001

What plays an important role in digital signature

X called Y (a customer)  to give his

Credit card details. X told that he is the BM of the branch

What type of technique is this?

A) phishing

B) identity theft

C) telesmishing

D) hacking

Cyptolocker

BANKING MATERIALS A-Z GUIDE

Here sharing important links of important banking materials.


BASICS OF BANKING

TYPES OF BANKING

BANKING ABBREVIATIONS

CAIIB ABM A-Z GUIDE

Here is a collection of important posts for ABM PREPARATION .

Hope you like it Happy Reading :)

CAIIB ELECTIVE IT A-Z GUIDE

👉ADDITIONAL MATERIAL BY IIBF

👉RECOLLECTED QUESTIONS June 2018

👉 Recollected Questions 16 Dec 2018

👉 Discussion 15 Dec Last Day Before Exam

👉 Unit 1 Information Technology and its Implications

👉 Unit 6 Database Management Systems

👉 Unit 8 E-Learning Environment

👉 Unit 10: Electronic Clearing and Settlement System

👉 Unit 11 : Plastic Money

👉 Unit 14 : Computer Security

👉 Unit-18 Competitive Bid Process RFP and SLA

👉 Unit 19 RBI Guidelines on Cyber Security

👉 Unit 20 RBI Guidelines on Computer Governance


👉IT MATERIAL

👉IT MATERIAL QUESTIONS

👉MODULE A COLLECTION

CAIIB ELECTIVE INTERNATIONAL BANKING A-Z GUIDE

Here sharing important post links for the exam.

👉MCMILLAN BOOK PDF

👉CAIIB INTERNATIONAL BANKING RECOLLECTED QUESTIONS

👉RECOLLECTED QUESTIONS

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CAIIB BFM MODULE B MCQ

BFM MODULE B-1

BFM MODULE B - 2

IIBF CAIIB BFM ADDITIONAL READING MATERIAL BY IIBF

Here sharing important links of additional material provided by IIBF for BFM

MODULE A INTERNATIONAL BANKING

MODULE B RISK MANAGEMENT

MODULE C TREASURY MANAGEMENT

MODULE D BALANCE SHEET MANAGEMENT
.................................................................

DOWNLOAD LINK from IIBF SITE  : CLICK HERE

Source: IIBF Website

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CAIIB BFM : Murugan MCQ Collection

Here sharing link of murugan sir mcq collection. you can download directly from his website .

DOWNLOAD HERE

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IIBF EXAM REVIEW : CAIIB BFM

 Here is a collection of questions asked in previous exams.

Hope you like it. Happy reading :)

1.Most of the questions from foreign exchange numericals


2. case study on DGAP, Leverage ratio


3. case study on LC


4. Risk weight on Housing loan

CAIIB BFM: A-Z GUIDE

Here sharing all important links of CAIIB BFM . Update some more later on .Hope you like it. Happy Reading :)

CAIIB BFM DISCUSSION UNIT 3 CORRESPONDENT BANKING & NRI ACCOUNTS

Here is a collection of some questions from UNIT 3 CORRESPONDENT BANKING & NRI ACCOUNTS, will update more time to time.Happy Reading :)

1. .......... is the relationship between two banks which have mutual accounts with each other.
Ans- Corresponding Banking

2. Which of the following is the funtion of corresponding bank among :
a) accounts services   b)LC confirmation  c) clearing house functions
d) Investment services

options :
i)only d
ii)only c
iii)a and b
iv)all
Ans-all

3. "Our Account with You " is :
a) Nostro Account
b) Vostro Account
c) Loro Account
d) Mirror Account
Ans- Nostro Account

4. "Your Account with Us" is:
a) Nostro Account
b) Vostro Account
c) Loro Account
d) Mirror Account
Ans- Vostro Account

5. RMA Full form ??
Ans- Relationship Management Application

6. SWIFT FULL Form?
Ans- Society for the Worldwide Interbank Payment System

7. FEDWIRE is the payment system of which bank?
Ans- Fedral Reserve Bank

8. All US banks maintains accounts with Federal Reserve Bank are allotted which number to identify sender and reciever?
Ans- ABA NUMBER

9. CHIPS full form :
Ans- Clearing House Interbank Payment System

10. ABA Transit Number is assigned by whom ?
Ans- American Bankers Association

11. CHAPS is based in which Country ?
Ans- LONDON

12. CHAPS Full Form ?
Ans- Clearing House Automated Payment System

13.TARGET full form ?
Ans- Trans European Automated Real Time Gross Settlement Express Transfer System

14. ......is a cross Border Euro Payments?
Ans- EBA-Euro1

15. Fedwire is a ..... system in US and is operated by .....?
a) clearing,US BANKS
b)payment, Us Govt.
c)Payment, US Banks
d) Payment,US Fedral reserve Bank
Ans- d

16. Interest and principal can be repatriated by an NRI, in the following account?
a) FCNR
b) NRE
c) EEFC
d)a and b
Ans- d

17. What is the maximum period for which a Foreign Currency non resident account can be opened by a bank?
ans-5 years

18. A foreign bank (ABC Ltd.) opens a rupee account with a bank's branch in India) This account will be designated in the books of the branch as
(a) Nostro account 
(b) vostro account 
(c) Loro account 
(d) Correspondent account
Ans- (b) vostro account 

19. Which of the following implies Vostro account
(a) Our account with you
(b) Your account with us
(c) His account with them
(d) None of these
Ans- (b) Your account with us

20. The acronym SWIFT stands for
A. Safety Width in Financial Transactions
B. Society for Worldwide International Financial Transactions
C. Society fro Worldwide Interbank Financial Transactions
D. Swift Worldwide Information for Financial Transactions


21. A foreign currency account maintained by a bank abroad is its
A. nostro account
B. vostro account
C. loro account
D. Capital account

22. Non- resident bank accounts refer to

A. nostro

B. vostro

C. loro

D. toro

Discussion 14.1.2019

Bhupendra Singh:
Our Account with you ?

Your account with us

Expand Target..

pinky:
Nostro

Vostro

Bhupendra Singh:
Interest and principal repatriated by which types of NRI accounts ?

pinky:
Trans European Automated Real Time Gross Settlement

Nre and fcnr

Bhupendra Singh:
Fcnr account maximum duration?

pinky:
Five

Year

Bhupendra Singh:
Cross border Euro payments?

pinky:
Eba euro

Bhupendra Singh:
All US banks alloted with no to identify sender and receiver?

EBA Euro 1

pinky:
ABA

Bhupendra Singh:
CHAPS based?

pinky:
Uk

Bhupendra Singh:
Expand chaps

RMA full form?

pinky:
Clearing House Automated Payments system

Bhupendra Singh:
Relationship Management Application

What is Fedwire and used by whom?

pinky:
Payment system of Federal reserved bank

Bhupendra Singh:
ABA transit number is assigned by?

pinky:
Us

FRB

Bhupendra Singh:
American Bankers Association

Expand SWIFT and describe it?

pinky:
Society for Worldwide Interbank Financial Telecommunications

It is a payment system through  authentication of messages between banks

Bhupendra Singh:
CHIPS full form and used by?

pinky:
Clearing house interbank payment system

Payment system operates in the newyork

Bhupendra Singh:
Ok, USA

pinky:
Uk

Bhupendra Singh:
SNRR account stands for

Special Non - Resident Rupee Account

NRIs investment categorized into two segments?

Repatriation and Non Repatriation

What is the limit of repatriation of fund held by NRI in their non resident accounts for a financial year?

Divan Batcha:
Nri 1 million usd

Bhupendra Singh:
upto 1 million USD per financial year

pinky:
But it is a rupee ac

Nd they can park their investment which is generated from home country

If repatriation will be allowed then our currency will be outflow

Bhupendra Singh:
Yes, it may be sale proceeds of immovable property

It's permitted nowadays

Facilities to NRI

LORO account is?

Divan Batcha:
Our account withus

Bhupendra Singh:
Non resident bank accounts refers to??

pinky:
Citi Bank referring to Rupee account of American Express Bank, with SBI Mumbai

Bhupendra Singh:
Rupee Accounts of NRI, which are non repatriable in nature and used for domestic transactions

NRO account

pinky:
Currencies of FCNR -B?

Divan Batcha:
Any convertible currencies

pinky:
Full form of PIO?

Bhupendra Singh:
Person of Indian origin

Divan Batcha:
Person of indian origin

pinky:
Can we issue credit card to NRE customer?

Bhupendra Singh:
FCNR B minimum duration

Yes

Interest on FCNR B account paid within the ceiling of??

pinky:
Normal as prevail in the bank rate

Divan Batcha:
RBi and bank discretion

Bhupendra Singh:
In the directions of Rbi but having certain ceiling that is LIBOR rates for respective currency

SNRR accounts maximum duration

84 months or 7 years