Regional Rural Bank ( RRB )

• Regional Rural Bank ( RRB ) established on 2nd October 1975

• RRB Act passed in the year 1976

• RRB established as per the recommendation of Narasimhan committee

• To implement 20 point programme announced by former prime minister Indira Gandhi the central Govt decided  to start RRB in the Nation

• The share capital contribution by the central government , state government and sponcer bank in the ratio 50 : 15 : 35

• Central government contributed RRB through NABARD

• First RRB in India is Moradabad in UP

• Kerala Gramin Bank is the largest RRB in India 

• Number of RRB in India is 43

Co operative Movement in Kerala

Cochin co operative Movement started in the year 1911

Cochin co operative societies Act 1913

A R Banerjee was the diwan at the time of passing Cochin co operative Societies Act 1913

The first co operative society registered under this Act was Edavanakkad Co operative society No 1

Liability of Edavanakkad Co operative society was Unlimited 

Present Name of Edavanakkad Co operative society is Edavanakkad service co operative Bank Ltd No 1

Travancore co operative societies Act 1914

First society registered under this Act was Trivandrum central Co operative Bank

Present Name of Trivandrum central Co operative Bank is Kerala Bank 

First registrar of travancore state was C Govindapillai

The first society registered under this Act was Koduvayur Agricultural credit society

Koduvayur Urban Bank is the present name of Koduvayur Agricultural credit society

Travancore Cochin co operative societies Act 1951

Travancore and Cochin states merged in the year 1949

Kerala Co operative Societies Act 1969

Madras co operative societies Act 1932

Full Form of Banking Terms

 1.Full form of NEFT 

National Electronic Fund Transfer

2. Full form of RTGS

Real Time Gross Settlement

3.Full form of CIBIL

Credit Information Bureau (India ) Limited

4. Full form of IFSC

Indian Financial System Code

5. Full Form of EMI

Equated Monthly Statement

6.Full form of MICR

Magnetic Ink Character Recognition

7.Full form of CASA

Current Account and Saving Account

8.Full form of NACH

National Automated Clearing House

9.Full form of MMID

Mobile Money Identifier

10.Full form of KYC

Know Your Customer

11.Full Form of KCC

Kissan Credit Card

12.Full form of OTP

One Time Password

13. Full form of NPCI

National Payments Corporation Of India

14. Full form of NBFC

Non Banking Financial Institution 

15. Full form of UPI

Unified Paymets Interface

16. Full Form of SWIFT

Society for World Wide Interbank Financial Telecommunication

17. Full form form GST 

Goods and Services Tax

18. Full form of NPA

Non Performing Asset

19. Full form of  TIN

Tax Information Network

20. Full form of   CVV

Card verification value

21. Full form of   SDR

Special Drawing Right

22. Full form of   IRDAI  

Insurance Regulatory and Development Authority of India

Co operative Movement in England

 

Co operative Movement England

• Co operative party is a venture in England 

• Father of co operative movement in the world - Robert Owen

• Father of co operative movement  in England -Robert Owen

• Father of British Socialism - Robert Owen

• Robert Owen born on - 14th May 1771

• The word Co operative Society first used by Robert Owen in his book the Economist

• The book, The Economist published in - 1821

• The book new view of society written by - Robert Owen

• The Village co operative was founded by - Robert Owen 

• The book " Principles of Environment " written by Robert Owen

• Doctrine of Circumstances is the idea of  - Robert Owen

• Labour exchange, Labour colonies, Labour note are the idea of - Robert Owen

• New Harmony is the co operative colony started by Robert Owen in USA

• Robert Owen is known as -Utopian Socialist

• No competition, No money, No profit is a statement made by - Robert Owen 

• Co operative wholesale stores started in England in 1863

• " Owen did not invent co operation but he was the inspiration for the co operative Movement " said by CR Fay

• First successful co operative society in the world - Rochdale equitable pioneer society

• Rochdale equitable pioneer society also known as - Toad Line 2 Stores 

• Roachdale Equitable Pioneer Society started on - 21st December 1844

• Rochdale pioneers entered into wholesale trade in the year 1855

• Formation of co operative principles was the main reason for the success of Rochdale Pioneers

• The women member in Rochdale Equitable Pioneer Society is - Eliza Brierley

• First president of Rochdale Equitable Pioneer Society - CHARLES HOWRAH

• First secretary of Rochdale Equitable Pioneer Society - JAMES DALY

• At first 28 Members joined together to form Rochdale Equitable Pioneer Society

• The working capital of Rochdale Equitable pioneer Society - 28 Pounds

• The members in Rochdale pioneers were engaged in flannel weaving 

• The book Weavers of dream written by - David J Thomson

• The book The History of Rochdale Pioneers written by - George Jacob Holyoke

• The book A century of co operation in Rochdale  written by - Henry Brown 

• Father of Co operative education - Dr William King

• Dr William King known as - christian socialist

• The christian socialist were responsible for passing of Industrial Provident Societies Act in 1852

• Dr William King born in - 1786

• The first co-operative journal in the world The Co operator 

• The Co operator Written by - Dr William King 

• The Co operator published in the year - 1828

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