IFSC code

 Indian Financial System Code ( IFSC )

> IFSC provided by RBI

> IFSC helps to transfer money using RTGS NEFT or IMPS

> IFSC is a alpha numeric code

> IFSC having 11 characters

> First 4 digit in IFSC mention Bank 

> Last 6 digit indicate branch 

> Fifth digit of the IFSC is zero

Milma

• Kerala Co operative Milk Marketing Federation ( KCMMF ) known as Milma 

• KCMMF established on 21st April 1980 

• Headquarters of KCMMF at Thiruvananthapuram 

• Farmers prosperity through consumer satisfaction , Keralam Kanikandunarunna Nanma are the slogan of KCMMF

• KCMMF established in connection with operation flood 2 

• Kshreera Sandesham is the publication of KCMMF

• The training institute of KCMMF is at Thrissur 

• KCMMF has a 3 tier structure 

• KCMMF at the top level , Regional Co operative Milk Producers Unions (RCMPU)at the middle level and APCOS at the base level

•  KCMMF has 3 RCMPU

               1 TRCMPU
               2 ERCMPU
               3 MRCMPU 

1. TRCMPU 

• Thiruvananthapuram Regional Co operative Milk Union Limited known as TRCMPU 

• Thiruvananthapuram , Kollam , Pathanamthitta , Alappuzha districts are come under TRCMPU 

• TRCMPU registered in 1985

2. ERCMPU

• Ernakulam Regional Co operative Milk Producer's Union Known as ERCMPU 

• Ernakulam , Thrissur , Kottayam , Idukki district are its area of operation 

• ERCMPU registered on 12th September 1985

3. MRCMPU 

• Malabar Regional Co operative Milk Producer's Union Known as MRCMPU 

• Malappuram , Wayanad , Kozhikode , Kannur , Kasaragod district are its area of operation 
• MRCMPU registered on 29 June 1989 

Member of Regional Milk Producer's Union is Apcos

First Milk supply union in Kerala is Calicut Milk Supply Union

Refresh is the brand name of fruit juice Marketed by Milma

Production bonus related to dairy societies

Thirumala Vanitha Ksheera Vyavasaya Co operative Society is the first Milk society in Kerala

CSEB Previous Question 7

 1 . Farming societies in Russia known as ?

            Ans : Kolkhoz

2 . The system of note issue followed by RBI ?

           Ans : Minimum Reserve System

3 . The headquarters of Hudco is at ?

           Ans : Delhi 

4 . Delcredere commission is usually  calculated on ? 

           Ans : Total Sales

5 . Unearned income is a ?

          Ans : Liability

 6 . Quorum for special general body  meeting  ?

          Ans: 1/3 majority 

 7 . Any officer who exicute an award or  decree is called ?

           Ans : Sale officer 

 8 . The salary and allowances of co  operative Tribunal decided by ? 

          Ans : Government

 9 . The chief exicute of PACS ?

           Ans : Secretary 

10 . The structure of co operatives in Kerala  is ? 

             Ans : Federal type

11 . First society registered under the Cochin co operative society Act ? 

              Ans : Edavanakkad Service co operative society 

12. The monitory disputes shall be referred    to ? 

              Ans : Registrar 

13. Quorum for meeting of a Circle co co operative union is ? 

              Ans : 8

14. A smaller general body constituted out            of  of general body is ? 

            Ans : Representative general body

15. Registrar of diary co operative societies          in Kerala ? 

              Ans : Director of Diary Development

16. The bank draft drawn by ? 

               Ans : Bank 

17. A bill is drawn by ? 

               Ans : creditor 

18. Another name of quantitative credit                control ? 

               Ans : General credit control

19. Deligation of authority of registrar                    mentioned in ? 

         Ans : The co operative socities Act 1912 

20. Credit to an income means ? 

              Ans : Increase

21. Poor people committee organised by ? 

              Ans : Reiffesen 

22. General ledger known as ? 

               Ans : Impersonal ledger

23. A country which no co operative.                       legislation ? 

                Ans : Denmark

24. ICA ROAP inaugurated by ? 

               Ans : Jawaharlal Nehru

25. The president of school co operative                society is ? 

               Ans : Headmaster

Cash Book

• Cash book is a book of original entry 

• Cash book is a ledger and journal 

• Cash book is a Real Account

• Cash book records Cash receipts on the debit side and payment on the Credit side 

• The opening entry in the cash book appear in the debit side 

• Credit balance in cash Book means overdraft 

• A transaction recorded in the both sides of the cash book is a contra entry

• A cash book both a journal and ledger

• Credit transactions are not recorded in the cash book 

• Cash book in a non trading concern is receipt and payment account

    Types of Cash book

       1. Single column cash book

       2. Double column cash book

       3. Three column cash book

       4. Petty cash book 

1. Single column cash book 

          

Single column cash book record all                  cash transactions 

It records all cash receipts and cash payments 

Single column cash book contains only one amount column in the debit and credit side of the cash book 

Left hand side of the cash book is receipt and right side of the cash book is payment 

2 . Double column cash book 

In double column cash book there are two column on debit and credit side , one is used to record cash transactions and second is used to record bank transactions

Double column cash book known as Two column cash book

Double column cash book records cash and bank transactions

When a cheque received and not deposited in the same day the amount of the cheque is entered in the cash column

When a cheque is received and deposited to the bank on the same day the amount of the cheque is entered in the bank column on the debit side 

3. Three column cash book 

In three column cash book there are three column in debit and credit side one is used to record cash transactions and second is used to record bank transactions and three is used to record discount 

4. Petty cash book

Petty cash book is a journal

The first column in the petty cash book is receipt column 

Petty cash book records all petty expenses

The balance of petty cash book is a asset

The amount given to the petty cashier in advance means Imprest Money 

Petty cash book is usually kept under imprest system 

Mudra bank

• Micro Unit Development and Refinance Agency Bank called as MUDRA bank 

• Mudra bank was set up under the Pradhan Mantri Mudra Yojna ( PMMY ) Scheme 

• The scheme launched by The prime minister of India Narendra Modi on 8th April 2015 

• The Loans are given by the commercial banks , RRBs , Small Finance Banks , NBFC'S . 

• The banks will classify it's client into 3 catagories 

1. Shishu 
2. Kishore
3. Tarun 

• Under Shishu covers loan upto Fifty thousand Rupees 

• In Kishore covering loans above Fifty thousand upto Five lakh 

• In Tarun covering loan above Five lakhs upto Ten Lakhs

SARFAESI ACT

 SARFAESI ACT 2002

• Full form of SARFAESI is  Securitization And Reconstruction of Financial Assets and Enforcement of Security Interest Act 

• SARFAESI ACT came into force on 21 June 2002 

• SARFAESI ACT related to loan recovery 

• SARFAESI ACT not applicable to loan  below rupees one lakh 

• SARFAESI Act does not apply to loan debt below 20% of the loan given

CSEB Previous Question 6

  1. The first committee on co operation in            India ?

               Ans : Mac Lagan Committee

 2. Formation of Land Mortgage Bank                   recommended by ?

               Ans : Royal Commission on                                           Agriculture 

 3. R G Saraiya Committee also known as ? 

               Ans : Co operative Planning                                           Committee 

 4. SBI recommend by ?

                Ans : A D Gorwala Committee

 5. The member in AIRCSC and AIRCRC was ?

                Ans : B Venkitapaih

 6. Chairman of Royal Commission on                   Agriculture ?

                 Ans : H Calvert

 7. A D Gorwala Committee appointed by ?

                 Ans : RBI

 8. One man one vote recommended by ?

                 Ans : Mac Lagan Committee

 9. B Sivaraman committee appointed by ?

                 Ans : RBI

10. Urban banks recommended by ?

                 Ans : Mac Lagan Committee

11. " If co operation fails, there will be best             hope for rural India " said by ? 

                 Ans : Royal Commission on                                           Agriculture 

12. B Venkitapaih committee appointed by ?

                 Ans : RBI

13. Sir Edward Law Committee known as ?

                Ans : Law commission

14. Mac Lagan Committee appointed by ?

                Ans: British Government

15. Craficard Committee appointed in ?

                Ans : 1979

16. Member secretary of AIRCSC ?

                Ans : N S R Sashtri

17. " Co operation had failed but it must                   succeed " said by ?

                Ans : AIRCSC

18. Prompt and timely elections in co                      operative society recommended by ? 

                Ans : A M Khusro

19. Lamps recommended by ?

                Ans : Bawa Committee

20. Magna Carta of Indian co operation ?

                Ans : AIRCSC

21. " Lack of teaching both before and after             registration " said by ?

                Ans : Mac Lagan Committee

22. A M Khusro Committee appointed by ?

               Ans  : RBI

23. Committee on model co operatives                     headed by ?

               Ans : Brahma Prakash Choudhary

24. Multi purpose co operative society                     recommended by ? 

               Ans : Saraiya Committee 

25. Integrated Scheme of Rural Credit                    recommended by ?

               Ans : AIRCSC

Relationship between Bank and Customer

Banker Customer Relationship

Deposit in Bank           - Debtor and Creditor

Loans and advances   - Creditor and Debtor

Collection of cheque   -  Agent and Principal

Payment of phone bills, Insurance etc - Agent and Principal 

Shares given for sale  -  Agent and Principal

Safe custody                 - Bailee and Bailor

Safe deposit locker     - Lessor and Lessee

Money deposited for a special purpose - Trustee and Beneficiary 

CSEB Previous Question 5

 1.Who is the father of co operation ?

       Ans : Robert Owen 

2. Closing stock is a ?
      

       Ans : Asset 

3. DICGC established in the year ?
       

       Ans : 1978 

4. Village level Dairy co operative Societies      are known as ?
       

        Ans : Apcos 

5. Bank without any branch is called as ?
       

        Ans : Unit Bank 

6. All expenses account are known as ?
      

         Ans : Nominal Account 

7. First Development Bank in India ?
       

          Ans : IFCI 

8. The largest fertilizer factory in Asia ?
     

          Ans : IFFCO 

9. Section 9 of NI Act deals with ?
      

          Ans : Holder in due course 

10. Grameeya is the half yearly publication         of ?
      

          Ans : NABARD 

11. Father of co operative credit Movement?
      

           Ans : FW Reiffesen 

12. Protest is issued by ?
      

           Ans : Notary public 

13. Village adoption scheme is related with?
      

          Ans : SBI 

14. The supreme body of NCDC ?
      

           Ans : General Council 

15. Village Co operatives were founded by ?
      

          Ans : Robert Owen 

16. The apex institution in the field of.                   industrial finance ?
      

           Ans : IDBI 

17. Debit in asset means ?
      

          Ans : Increase 

18. Depreciation for property and building?
       

          Ans : 2.5% 

19. Cash reserve ratio is determined by ?
      

         Ans : RBI 

20. Depreciation of iron mine due to ?
      

         Ans : Depletion 

21. Cancellation of shares is called as ?
      

        Ans : Forfeiture 

22. Which banks are called as Romance of           co operation ?
      

        Ans : Urban Banks 

23. An agreement enforceable by law is              called ?
      

        Ans : Contract 

24. Miscellaneous journal means ?
      

       Ans : Journal proper 

25. A group of account is known as ?
      

      Ans : Ledger

CSEB Previous Question 4

 1. President of NCDC ? 

         Ans : Union Agriculture Minister 

2. Lead link Scheme implemented in ? 

         Ans : 1976 

3. Area of operation of branch banking ? 

        Ans : Unlimited 

4. Section 6 (b) of NI Act ?

       Ans : Truncated Cheque

5. The delivery of goods by one person to            another for some purpose upon a contract      is called as ?

        Ans : Bailment

6. The clearing house activities in Kerala            coordinated by ? 

        Ans : SBI 

7. Auditor plan of action is known as ? 

        Ans : Audit Program 

8. The first international co operative day          was celebrated in ? 

        Ans : 7- 7- 1923 

9. The duty of publishing the preliminary            voters list of a co operative society in                Kerala is ? 

         Ans : Electoral officer 

10. Assets subject to depletion are called ? 

         Ans : Wasting assets

11. Full form of CIBIL ?

         Ans : Credit Information Bureau India                        Limited

12. The application for registration is                       submitted by ?

          Ans : Chief promoter 

13. The president and office bearers of the            Society shall be elected within ?

       Ans : 7 days 

14. The total number of rules in the KCS Act ?

       Ans : 201

15. The constitution of a co operative society         ?

       Ans : Byelaw

16. The winding up of a co operative society         is known as ?

       Ans : Liquidation

17. Co operation is included in the schedule           of Indian Constitution ?

        Ans : seven

18. Internal auditors of a co operative                    society is appointed by ?

      Ans : Managing committee

19. The co operative service examination               board shall consists of not more than               members ? 

       Ans : 3

20. One man one vote Principle                                 recommended by ? 

       Ans : Mac Lagan Committee

21. The custodian of minute Book of a co               operative society ? 

       Ans : Secretary

22. Neethy stores was started in Kerala in ?

       Ans : 1997

23. The number of members in a co                        operative tribunal ? 

       Ans : One 

24. Registration of partnership is ?

       Ans : Optional 

25. A bank reconciliation statement is                     prepared by ? 

       Ans : Customer 

26. A co operative society defined in ?

       Ans : Section 2h of KCS Act

27. District level Audit officer for a co                    operative society ? 

      Ans : Joint Director

28. The president and office bearers of the            Society shall be elected within of election        days from the date ?

       Ans : 7 days

29. Auditors create provisions for ?

      Ans : Overdue

30. The managing committee of state co                operative union consists of ?

     Ans : 23

31. Number of ICDP projects in kerala ?

      Ans : 5

32. Chairman of NABARD is appointed by ?

      Ans : Govt of India

33. The secretary of Circle co operative                   union ?

      Ans : Assistant Registrar

34. The custodian of professional education           fund ?

       Ans : Registrar of co operative society

35. The technical enquiry report in PCARDB         is prepared by ? 

       Ans : Valuation officer 

36. The first marketing society in India ?

       Ans : Hubli

37. Thrift fund is created by ?

       Ans : Handloom weavers Society

38. An employee of a co operative society              dismissed by ?

      Ans : President

39. Highest award given to the best co                    operator in India is ? 

      Ans : Sadanandan Award

40. DV files maintained by ?

       Ans : Agricultural and Rural                                         Development Bank 

41. Loss of goods by fire may be ?

        Ans : Credited to Trading account

42. The accounting equation is based on ? 

       Ans : Dual aspect consept

43. Author of the book ' Fundamental of co          operation ' ? 

      Ans : S . S . Puri

44. Investment banks are also called as ? 

       Ans : Industrial Bank

45. Sinking fund is usually created in ? 

       Ans : State agricultural and rural                                 development bank 

46. The headquarters of marketfed ?

       Ans : Cochin

47. The monthly publication of NCUI ?

       Ans : The co operator

48. The first non Agricultural Credit Society           in India established at ? 

      Ans : Baroda

49. Bills payable is a ? 

       Ans : Liability

50. Surabhi is an apex co operative society            of ?

      Ans : Handicraft Society