Bank Promotion Exam (Scale I to III) - Indian Overseas Bank Circular Based Super Hot 41 Questions - August 2021
1. As per UDAAN 2021, it has been decided to Extend the waiver of processing charges of Housinng Loans through Takeover and concessionary interst rate to women Borrowers till 31.08.2021
2. It has been decided to provide operational flexibility for reporting of such transactions undertaken by the Foreign Portfolio Investors (FPIs) in Government securities, as under.a. FPIs/custodian banks shall report their transactions to the NDS-OM platform within three hours after the close of trading hours for the Government securities market.
3. SBI General Bharat Sookshma Udyam Suraksha policy is meant for enterprises where the total value at risk across all insurable asset classes at one location does not exceed Rs 5 Crore (Rupees Five Crore) at the policy commencement date.
4.SBI General Bharat Laghu Udyam Suraksha Policy :This policy is for enterprises where the total value at risk across all insurable asset classes at one location exceeds Rs 5 Crore (Rupees Five Crore) but does not exceed Rs 50 Crore ( Rupees Fifty Crore)at the policy commencement date.
5.AD Category -I banks were required to upload the data in respect of number of applications received and the total amount remitted under the Liberalised Remittance Scheme (the Scheme) on Online Return Filing System (ORFS).
ii. It has now been decided to collect this information through XBRL system instead of the ORFS.
iii. Accordingly, AD Category – I banks shall upload the requisite information on XBRL system on or before the fifth of the succeeding month from July 01, 2021 onwards.
6. IOB Covid Shield Personal Loan:
Tested positive on or after 01.4.21
Age:Above 20 Years to 60 Years Max
Max: 5.00 Lakh for Salaried
3.00 lakh for Non Salaried
CIBIL: Min score of 700
Loan Period: Max 5 years including 3 months Moratorium
Rate of Int: RLLR+ 1.65 = 8.50%
Validity of scheme: 31.03.2022
7. IOB Sanjeevani has been renamed as Sanjeevani plus
Loan Amt: Min 10.00 Lakh
Max : 25 Cr
Margin: Term Loan 25 %
Cash Credit: 25% (Stocks)
Receivables:40% fora period of 90 days
Bank Guarantee/ Letter of Credit: 25%
Rate of Interest: for MSME: RLLR Rate applicable
For non MSME: MCLR Rate Applicable
Repayment: Max 10 Years Including Moratorium period
Moratorium Period Max 8 months for construction of Hospital/ Clinic/ Nursing Home
Moratorium Period Max 6 Months for purchase of Equipment
8. BHIM IOB UPI: Max limit of UPI transaction per bank account within 24 hrs: 10
IOB acc: Max per day transaction limit:Rs50k
and per day limit: Rs 1.00 lakh
9. After Registration, For 1st 24 hrs: Max transaction limit: Rs5k
person to person (P2P) collect request max limit is Rs 2k per Transaction
10. Arogya Sanjeevani Standard Health policy coverage Rs1.00 Lakh to Rs 5.00 Lakh in multiples of Rs 50k
Pre Hospitalization- 30 days
Post Hospitalization: 60 days
Min Entry Age: ADULT: 18 Yrs Max 65
Min Entry age: For dependent: 91 days to Max 25 years
11. For Onboarding of Merchants on BHIM ADHAAR IOB, BC's are paid commission of Rs 100 per merchant
12. TATA AIG General Insurance Company LTD will continue to be the insurance Partner with NPCI for RU PAY Insurance Program 2021-22 for Rupay Premium Cards
13. Insurance Covers of Rs 2.00 lakhs( Accidental Death or permanent Total Disablement only) for RuPay Premium Card (Rupay Platinum card)
14. Insurance Covers of Rs 10.00 lakhs( Accidental Death or permanent Total Disablement only) for higher variant Card (Rupay Select Card)
15. Under Claim Process- Rupay Insurance program 2021-22 for Rupay Platinum & Higher Variant cards, claim Intimation should be within 90 days from date of accident
16. Under Claim Process- Rupay Insurance program 2021-22 for Rupay Platinum & Higher Variant cards, supporting documents relationg to the claim must be submitted within 60 days form the date of intimation.
17. New India Assurance Co LTD will be the insurance Partner with NPCI for RU PAY Insurance Program 2021-22 for Rupay PMJDY Cards
18. Insurance Covers of Rs 1.00 lakhs( Accidental Death or permanent Total Disablement only) for RuPay PMJDY Card (Old PMJDY card)
19. Insurance Covers of Rs 2.00 lakhs( Accidental Death or permanent Total Disablement only) for RuPay PMJDY Card (New PMJDY card)
20. AT CO Level, Task force meeting with account with O/s above 10 Cr is Headed by GM(SAMD) and Regional Head
21. AT RO Level, Task force meeting with account with O/s above 1 Cr upto 10 Cr is Headed by Regional Head
22. AT RO Level, Task force meeting with account with O/s above 50 lakhs upto 1 Cr is Headed by Senior Officer at Regional Office
23. AT branch Level, Task force meeting with account with O/s upto 50 lakh is Headed by Branch Head
24. If the branch is headed by DGM ,Task force meeting with account upto 10 Cr is Headed by Branch Head at Branch Level
25. The limits for FPI investment in Corporate bonds shall remain unchanged at 15% of outstanding stock of securities for FY 2021-22
26. Government of India has approved the extension of Interest equalisation Scheme for Pre and Post Shipment Rupee export credit with same scope and coverage for 3 more months i.e upto june 30th, 2021
27. To be eligible under ECLGS 2.0 scheme, the borrwer account should be less than or equal to 60 days past Due i.e (SMA 0 & SMA 1 borrowers are eligible) as on 28.02.21
28. It has been decided to collect more details of international transactions using credit card / debit card / unified payment interface (UPI) along with their economic classification (merchant category code – MCC) through a new return called ‘FETERS-Cards’
29. The threshold limit of Rs 5.00 Cr for aggregated retail exposure to a counterparty has been increased to Rs 7.5 crore and Turnover for the counterparty remains same at Rs 50 Cr
30. Risk weight of all the exposures under Retail Regulatory portfolio - 75%
31. Risk weight of all the loans classified under consumer credit- 100%
32. RBI has now decided to introduce the LEI system for all payment transactions of value Rs 50 crore and above undertake by entities (non individuals) using Reserve bank run Centralised Payment System vi RTGS and NEFT
33. Risk weight of credit Card Receivables - 125%
34. DL against Deposit/LIC/ NSC and JL others for indivividual will be treated as Consumer loan with a risk weight of 100%
35. The consultants would be engaged for TEV study for new (Green Field) projects of Rs 25 crore and above.
36. In case of consortium/multiple banking advances where the total cost is Rs 50 crores and above , bank shall insist on TEV study.
37. Approval of Fresh empanelment of TEV is given by Credit monitoring Department, CO.
38. The charges for Disptaching Personalised Chequebook is Rs 50+ GST
39. In case of personalised Cheque book being return delivered , Rs 100 + GST is to be charged by the Branch
40. Under Stand up India Margin Loan Scheme, minimum Margin should be 15% of the project Cost. However, Borrower will continue to contribute atleast 10% of the project cost as own contribution
41. As per RBI directive, Contactless transaction limit has been increased from Rs 2000 to Rs 5000 /- Per transaction