PSEB SS NSQF BFSI (BC/BF) cheat sheet

NSQF level descriptors rest on learning outcomes: level 4 = supervised routine work with some autonomy; level 5 = skilled, largely independent work with responsibility for own output; level 6 = broad, complex tasks with team/process responsibility. The BC/BF qualification sits at entry-to-skilled levels of the BFSI sector skill council ladder.

RBI's Basic Savings Bank Deposit Account (BSBD) has no minimum balance requirement, allows free deposits and 4 free withdrawals per month (including ATM and transfer debits), and must not be converted into a regular account to levy charges; anything beyond the free limits may attract charges only if disclosed.

KYC is risk-based: Officially Valid Documents (OVD) include passport, driving licence, Aadhaar (where accepted), voter ID and NREGA job card; simplified KYC applies to low-risk small accounts, while enhanced due diligence applies to high-risk customers and PEPs. Periodic KYC updation follows the customer's risk category.

Interest computations: simple interest = P x R x T / 100; compound interest = P(1 + R/100)^T - P. For recurring deposits each instalment compounds for its own remaining tenure; for loans, reducing-balance interest is charged on the outstanding principal, not the original amount.

Compound annual growth rate = (End/Start)^(1/n) - 1; EMI = P x r x (1+r)^n / ((1+r)^n - 1) where r = annual rate / 12 / 100 and n = months. A higher r or longer n lowers the EMI but raises total interest outgo.

Deposit insurance: DICGC covers each depositor up to Rs 5 lakh per bank (principal plus interest), across savings, current, fixed and recurring deposits, and is paid within 90 days of a bank's licence cancellation or liquidation being notified.

Priority Sector Lending targets for scheduled commercial banks: 40% of Adjusted Net Bank Credit overall, of which agriculture is 18%, micro enterprises 7.5%, and weaker sections 12%; shortfalls go to RIDF and similar funds.

A Negotiable Instrument (NI Act 1881) is transferable by delivery (bearer) or endorsement plus delivery (order); cheques are payable on demand, and the validity of a cheque in India is 3 months from the date on the instrument.

Banking Ombudsman (RB-IOS 2021): complaints are first made to the regulated entity, and can go to the Ombudsman if unresolved or unsatisfactory within 30 days; the Ombudsman's award is binding on the entity if the complainant accepts it within 30 days.

Account-opening lab drill: collect KYC OVD, verify name/photo match, capture customer photo and signature, complete the account opening form, obtain the customer's own mobile number for alerts, and confirm the account number before issuing a passbook - never leave blank fields on the form.

Cash handling discipline: count notes twice, check security features (watermark, security thread, microprint, intaglio feel, see-through register), sort by denomination, and reconcile physical cash against the teller/BC system at every shift close; any excess or shortfall is recorded and reported the same day.

Note exchange rule applied in the lab: soiled or cut notes are exchanged at bank counters free of charge; the 'minimum acceptable area' test is applied for mutilated notes, and exchange is refused where the note is deliberately altered or consists of more than the permitted number of pieces.

Cheque handling sequence: confirm date (within 3 months), payee name, amount in words and figures match, signature present, no material alteration (alterations must carry the drawer's full signature), and check for post-dated or stale instruments before accepting.

Digital BC tools: use the handheld/tablet application for biometric authentication, Aadhaar-enabled Payment System (AePS) transactions, and receipt printing; every transaction must generate a printed or SMS receipt with a reference number, and the device must be logged out after use.

Fraud-prevention lab checks: verify the customer's identity before a high-value withdrawal, look for SIM-swap or OTP-sharing requests, never accept a customer's PIN or share the BC's own credentials, and escalate suspected social-engineering attempts immediately.

Documentation practice: mark every customer copy 'received', keep the bank copy and customer copy distinct, record date/time/amount in the register, and retain records per the retention policy so that any transaction can be traced to its receipt number.

Customer-service lab: explain charges, interest rates and turnaround times in the customer's language, complete a complaint register entry with a reference number, and state the escalation route (branch, then the regulated entity's grievance redressal, then RBI Ombudsman).

Balancing and audit readiness: prepare the day-end summary showing opening cash, receipts, payments and closing cash; the closing balance must equal opening plus receipts minus payments, and any mismatch is investigated before the BC closes the terminal.