IBPS2020

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...

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...

Monetary and Liquidity Measures On the basis of an assessment of the current and evolving macroeconomic situation, it has been decided to: • keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 7.25 per cent; • keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liability (NDTL); • continue to provide liquidity under overnight repos at 0.25 per cent of bank-wise NDTL at the LAF repo rate and liquidity under 14-day term repos as well as longer term repos of up to 0.75 per cent of NDTL of the banking system through auctions; and • continue with daily variable rate repos and reverse repos to smooth liquidity. Consequently, the reverse repo rate under the LAF will remain unchanged at 6.25 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 8.25 per cent Assessment 2. Since last statement, global economic activity has recovered modestly in Q2 of calendar 2015. The...

1.Terracota warriors museum in which country(visited by modi)? –  China 2.What is the currency of Isreal?  Israeli new shekel 3.Tajakhastan capital is?  Dushanbe 4.Monetary regulation done by?  Central Bank (RBI) 5. Largest chain of atms in India?  SBI 6. 2 lakh accident cover on which yojna?  Pradhan Mantri Suraksha Bima Yojana (PMSBY) 7.Commerce minister of India?  Nirmala Sitaraman 8.Wimbeldon single mens champion?  Novak Djokovic 9.South asia basket ball championship winner?  India 10.Age after which cheque and atm transaction allowed? 11.Maximun limit in a financial year in sukanya samriddhi yojna account? 12.Who is omar sharif?  Egyptian actor 13.Lakswadeep capital?  Kavaratti 14. CEO of niti aayog?  Sindhushree Khullar 15.Kanha national park is located in which state?  Madhya Pradesh 16.where is gift city?  Gandhinagar, Gujurat 17.Notes can be printed upto which denominat...

The Reserve Bank of India has issued 100 denomination banknotes in Mahatma Gandhi Series – 2005 with a new numbering pattern. Now the numerals in both the number panels of these banknotes will be in ascending size from left to right, while the first three alphanumeric characters (prefix) will remain constant in size.  Printing the numerals in ascending size is a visible security feature in the banknotes so that the general public can easily distinguish a counterfeit note from a genuine one. The Reserve Bank, in consultation with Government of India, has been improving security features of Indian banknotes so as to make their counterfeiting difficult and make it easy for members of public to identify genuine banknotes. The design of banknotes with numerals in ascending size is similar in all other respects to the current design of 100 banknotes in Mahatma Gandhi Series – 2005 except for the new numbering pattern. The banknotes will continue to have " " symbol on t...

The Reserve Bank of India has extended the date for the public to exchange their pre-2005 banknotes till December 31, 2015. It had, in December 2014, set the last date for public to exchange these notes as June 30, 2015. Soliciting cooperation from members of public in withdrawing these banknotes from circulation, the Reserve Bank of India has urged them to deposit the old design notes in their bank accounts or exchange them at a bank branch convenient to them. The Reserve Bank has stated that the notes can be exchanged for their full value. It has also clarified that all such notes continue to remain legal tender. Explaining the move, the Reserve Bank said that the banknotes in Mahatma Gandhi series have now been in circulation for a decade. A majority of the old banknotes have been withdrawn through bank branches. It has, therefore, decided to withdraw the remaining old design notes from circulation. Not having currency notes in multiple series in circulation at the same time i...

The Finance Ministry’s proposal to incentivise the use of electronic payments by providing tax breaks to establishments that facilitate electronic card payments, as well as income tax breaks to those who use them, is the first serious effort to tackle the predominance of cash in the Indian economy. One hopes that the proposals, contained in a draft paper put up for discussion and comment by the ministry, will become policy. Finance Minister   Arun Jaitley   deserves to be congratulated for actually following through on his   Budget   promise to crack down on black money by promoting the use of an alternative payment system that leaves an electronic trail. The draft proposals, however, concentrate on tackling two key areas of resistance to the adoption of card payments by both merchants and consumers. The first is the higher cost of electronic transactions, where the fees charged by the payment gateway provider adds to the transaction costs. This can be a maj...

The Securities and Exchange Board of India (SEBI) on Tuesday relaxed the norms for technological start-ups to raise funds from the capital market, while easing the norms for issuance of Initial Public Offering (IPO) by companies. The capital market regulator reduced the post-listing lock-in period for tech start-up promoters to six months, instead of three years for other IPOs. “Exchanges will have a separate platform, Institutional Trading Platform (ITP), and would facilitate capital raising as well for start-ups,” said SEBI Chairman U.K. Sinha while addressing press conference here after its board meeting. 1 Exchanges will have a separate platform for start-ups 2 Reduces post-listing lock-in period for tech start-up promoters to six months 3 Rationalises the framework for reclassification of promoters as public It also said that this platform is accessible to companies, which are intensive in their use of technology, information technology, intellectual pro...