IBPS2020

The Union Cabinet has approved a proposal to notify the Trade Facilitation Agreement (TFA) of the World Trade Organization (WTO).  Decision in this regard was taken by Union Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi as per India’s consonance of ‘ease of doing business’ initiative. The proposal regarding ratification and acceptance of the instrument of acceptance of protocol of TFA to WTO Secretariat was also approved by the Union Cabinet.  National Committee on Trade Facilitation   The Union Cabinet also has decided to constitute National Committee on Trade Facilitation (NCTF) to facilitate both domestic coordination and implementation of the provisions of the Agreement. NCTF will be set up under the Joint Chair of Secretary under the aegis of Union Ministry of Commerce and Industry’s Department of Revenue and Secretary, Department of Commerce.   What is Trade Facilitation Agreement (TFA)?   The TFA is the WTO’s first-...

Similar programmes in the past have failed as they were not profitable for the banks The Indian government will pay banks a 2.5 percent commission to unlock the country's massive stash of gold under a new monetisation scheme, the central bank said, as the ambitious plan received a poor response from banks and customers. Prime Minister Narendra Modi launched the Gold Monetisation Scheme on November 5 to lure an estimated 20,000 tonnes of gold hoarded in households and temples into the banking system and trim the import bill of the world's second biggest gold consumer after China. But only a few kilograms trickled in over the last two months as banks showed little interest in popularising the scheme because of negligible returns for them. Now the government has decided to pay the participating banks a total commission of 2.5 percent, including 1.5 percent handling charges, for the first year, the Reserve Bank of India said in a statement late on Thursday. Support fr...

Cabinet approves New Crop Insurance Scheme – Pradhan Mantri Fasal Bima Yojana – A boost to the farming sector T he Union Cabinet chaired by the Prime Minister Shri Narendra Modi today has approved  the ‘Pradhan Mantri Fasal Bima Yojana’ - a path breaking scheme for farmers’ welfare. The highlights of this scheme are as under: i)               There will be a uniform premium of only 2% to be paid by farmers for all Kharif crops and 1.5% for all Rabi crops. In case of annual commercial and horticultural crops, the premium to be paid by farmers will be only 5%. The premium rates to be paid by farmers are very low and balance premium will be paid by the Government to provide full insured amount to the farmers against crop loss on account of natural calamities. ii)              There is no upper limit on Government subsidy. Even if balance premium is 90%, it will be borne by the Government...

Non-Performing Asset   Loans and advances given by the banks to its customers are an Asset to the bank. Just for the sake of simplicity, we can understand that a loan (an asset for the bank) turns as NPA when the EMI, principal or interest component for the loan is not paid within 90 days from the due date. Thus a Bad Loan is a n asset that ceases to generate any income for the bank . As per RBI guidelines, NPA is defined as under: Non performing asset (NPA) is a loan or an advance where; i.     interest and/ or installment of principal remain overdue for a period of more than 90 days in  respect of a term loan, ii.    the account remains‘out of order’ in respect of an Overdraft/Cash Credit (OD/CC), iii.   the bill remains overdue for a period of more than 90 days in the case of bills purchased and  discounted, iv.   the instalment of principal or interest there on remains overdue for two crop seasons for short  duration cro...

What is ECGC? Export Credit Guarantee Corporation of India Ltd. ( ECGC ) is a Government of India Enterprise which provides export credit insurance facilities to exporters and banks in India. It functions under the administrative control of Ministry of Commerce & Industry, and is managed by a Board of Directors comprising representatives of the Government, Reserve Bank of India, banking , insurance and exporting community. Over the years, it has evolved various export credit risk insurance products to suit the requirements of Indian exporters and commercial banks. ECGC is the seventh largest credit insurer of the world in terms of coverage of national exports. The present paid up capital of the Company is Rs. 1200 Crores and the authorized capital is Rs. 5000 Crores. ECGC is essentially an export promotion organization, seeking to improve the competitive capacity of Indian exporters by giving them credit insurance covers comparable to those available to their competitors...

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L, N, P, R, M, Q, T and Y are the members of a committee sitting around a circular table but not facing the centre. Each member has a different zodiac sign, viz Leo, Virgo, Libra, Cancer, Aries, Gemini, Pisces and Scorpio, but not necessarily in the same order. T is third to the right of P. The one whose sun-sign Leo is second to the left of the one whose sun-sign is Libra. Y's sun-sign is Libra and is sitting exactly between P and L. The one whose sun-sign is Pisces sits second to the right of N. The one whose sun-sign is Aries is second to the right of the person whose sun-sign is Gemini. P sits third to the left of the person whose sun-sign is Virgo. Neither Q nor L is the immediate neighbour of N. Q is fourth to the left of L. N's sun-sign is neither Cancer nor Ariel. The person whose sun-sign is Leo is sitting second to the right of the person whose sign is Cancer. R’s sun-sign is Leo and is not an immediate neighbour of N. 1. Which of the following is ...