Answer Key Check Your Progress JAIIB-01

Lets check your progress with these Answer key for our JAIIB-01

Question No	Answer
1	A. Can be restricted and entrusted to one partner
2	B. Tele-banking
3	D. All the above
4	C. Multi State Co-operative Societies Act, 2002
5	D. All the above
6	A. Right of set-off
7	D. All the above
8	D. All the above
9	B. Wide Area Network
10	D. Both A and B

Hope, you doing your best while playing with this magic answer

Thanks...!!!

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Check Your Progress JAIIB - 01

Q1. Partners are mutual agents. It applies to sleeping or secret partners also. The right of other partners –

A.      Can be restricted and entrusted to one partner

B.      Can’t be restricted and not be entrusted to one partner

C.      Can be enjoyed jointly

D.      Can be enjoyed severally

Q2. Name any e-banking services,  which is based on voice processing facility-

A.      Anytime Banking

B.      Tele-banking

C.      Anywhere banking

D.      Online banking

Q3. Non-Performing Assets are those assets which are overdue for a period of more than-

A.      90 days in interest and/or installment in term loan

B.      90 day out of order in case of overdraft/cash credit , Bill purchase and bill discounted

C.      2 harvest seasons for advances for cultivation of short duration crops

D.      All of above

Q4. When Co-operative banks are functioning in more than one state, then they are governed by

A.      Multi State Co-operative Societies Act, 1984

B.      Multi Units Co-operative Societies Act   

C.      Multi State Co-operative Societies Act, 2002

D.      Banking Laws (Application to Co-operative Societies) Act, 1965

Q5. Banking regulation Act, 1949 deals with

A.      The regulation of banking companies

B.      The control over the management of banking companies

C.      Suspension and winding of banking companies

D.      All of above

Q6. There is no need to give notice to customer, of bank’s intention to exercise

A.      Right of set-off

B.      Right to sell the pledged goods

C.      Banker’s lien

D.      Contingent contracts

Q7. Under what circumstances can the bank close a partnership account –

A.      Death of partners

B.      Retirement of a partner

C.      Insolvency of a partner

D.      All the above

Q8. Power of attorney is a stamped document and generally executed in the presence of

A.      A Notary Public

B.      A Magistrate of a Court

C.      An Authorized Government officials

D.      All of these

Q9. Large scale computer network spread over the sizable geographic area is –

A.      Local Area Network

B.      Wide Area Network

C.      Topology

D.      RDBMS

Q10. Following are the feature of Mobile Banking  

A.      Encryption with 128 bit

B.      Open internet technology

C.      Dependent on any specific service provider

D.      Both A and B

kindly go through out the all question and choose the correct answer, We provide the Answer of these in next series.

for more question visit our page Mock Test JAIIB/CAIIB

Thanks...!!!

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Chillr Mobile App

Chillr is a “smart phone application” developed by Kerala-based start up Mobme Wireless. It was subsequently farmed out into a separate company promoted by Sony Joy, founder and CEO Chillr. Currently Bank of Baroda and HDFC Bank are the partner Bank.

It is a multi-bank mobile banking app that enables easy, secure and immediate transfer of money between its registered users. Users can transfer funds to other chillr users and also request money from them. It uses the immediate payment services (IMPS) of NPCI as backbone to transfer funds immediately. Users will require their Mobile banking MPIN to transact using this application. After registration, chillr application is directly linked to the Bank account where the customer’s Mobile no. is registered and Mobile Banking is activated.

Features and Services of ‘Chillr’

1.    Customers can send money through Chillr mobile app to both partner and non partner.

2.    Non partner bank customers can only received funds.

3.    Customers who are registered for Bank's Mobile banking facility can transfer money instantly to their phone book contacts without the need for account details of the recipient.

4.    Person to person (P2P) money transfer.

5.    Split bills amongst friends

6.    View transaction history.

7.    Check account balance.

8.    Request money from friends

9.    Mobile recharge and Utility Bill payments

Limit Of Transaction

1.    Minimum amount – Rs. 10/- per transaction.

2.    Maximum amount – Rs. 1000/- per transaction.

3.    Daily limit – Rs. 5000/-

Chillr mobile app is available on iOS, Windows and Android mobile platform.

At the time of installing Chillr -
You may used my Refferal code - ALOKK6756

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Collateral Linkage Maintenance for LABOD account

In the previous, we learn about to Opening of LABOD account in finacle. When we open a LABOD account against the FDR, then we should have to link that FDR to the loan account for the purpose of lien & customer can't break this FDR before the settlement of LABOD account.
In other word, we should have to lien their FDR as security, in the bank custody along with their loan document & link this to the loan account.
Here to follow the step by which we make lien on FDR as collateral security.

Step 1 -
Use the Menu - HCLM

Step 2 -
Function - L-Lodge
Type - D-Deposits
linkage Type - A/c
A/c. ID - write the loan account number
then ACCEPT
As see below-

Step 3
Collateral Code - DEPOSITS
Collateral Class - 01A
Ceiling Limit - FD amount
Dr. A/c for fee - Loan a/c number
Nature - Primary
then VALIDATE

Step 4
Now go to the Particulars field
Received Date - 09-09-2016 (say)
Review Date - 08-09-2017
Due Date - 09-09-2017
Dep. A/c. ID - write the FD account number
Apportion Value - write the value of FD
then SUBMIT

Now we complete the process of collateral linkage.
I hope it will helpful, when you open a LABOD account after that you have to the linkage of FDR. If any suggestion and idea share with me, you can write down in comments.
Thanks...!!!

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LABOD account opening in Finacle

Hello Friend,
In our previous post we tell about opening of Car loan account  and Festival Advance . Now here we comes with the Process of LABOD account opening in Finacle. We all know that LABOD ( Loan Against Bank Own Deposit) can be given toward the various deposit such as Fixed Deposit Receipt etc.

Here we discuss when a customer approach us for loan against their Fixed Deposit Receipt (FDR).
As we know we can given loan up to 95% of FDR and received Interest 1% more than the rate of interest of FDR.

First of all we considered the following case study after sanction that help us to complete the process:-



Case Study

FDR Amount:   75,000/-
Maturity Date:   23.07.2017
Rate of Interest: 7.30%

LABOD A/c opening Date : 09.09.2016
Lets require loan amount : 50,000


Now use the menu: HOAACLA

Step 1.

Cust ID: Write the Customer ID of Borrower
Scheme Code : LA172 ..then click on treesàSubmit

                            àLA172-LABOD-Non EMI-24361-Loan Agn Bank Own DepositàSelect

                                              Then àAccept


Step-2

General

Charge Level: Select from trees
Location Code: Select from trees as branch location
Mode of Operation: 001

è Validate

A/c Interest

A/c Pref. Int.(Dr) – 8.30
  ( Note: This is total of ROI of FDR and 1 i.e 7.30 + 1 = 8.30)
And Don't change in any other field, leave it as usual ,
see as below-

è Validate

Scheme

Loan Amount:– 50,000 (from above )
Loan Period:– 12
Credit file No. – write as per your branch
Review level:– select from trees
Review Authority: – select from tress as per your branch authority
Operative A/c ID:- Not needed
Debt Acknowledgement:-  usually date of a/c opening i.e 09.09.2016  

è Validate

LA Interest

Just à Validate

Flow Parameters

No of installments: 1
Installment start date : Maturity date of FDR
Int. Start Date : After one month
Installment freq. - Bullet ------ Date--------Previous
Int. freq              -  Montly-----09(date of a/c open)-----previous

See as below:

è Validate

Flow Details

Just validate

è Validate

Miscellaneous

Sector code: - 290.  Other Non Priority
Sub Sector Code: Select from trees As per borrowers
Occupation Code: - Select from trees As per borrowers
Borrowers Category:- Select from trees As per borrowers
Purpose of Advances: 09512
Mode of Adv: DA
Types of Adv: LABOD
Nature of Adv:
Gurantee cover code: NA
Industry type: NA
Free Code 3: TF

è Validate

Account limit


Sanction Date:-09.09.2016
Expiry Date- 09.09.2017
Document Date: 09.09.2016
Review Date: NOT REQUIRED
Sanction level: select from trees as per sanction letter
Sanction Authority: Select from trees as per sanction letter
Limit refence no:  writer as per sanction letter
Drawing Power: E-Equal

è Validate

Document

Document Code: DPNTL
Received Date: 06.09.2016
Expiry Date:06.09.2019

è Submit

Now temporary a/c generated.

I hope it will help you to open a LABOD a/c in Finacle. After opening a/c of LABOD, we should have to doing following -

Collateral Linkage Maintenance for LABOD account

Thanks.

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