Banking GK.pdf

8/14/2019 Banking GK.pdf

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New provisioning norms to impact bank

profits

The banking system could take a collective hit of around `13,000 crore on bottom-line in thenext two years if Reserve Bank of India (RBI) puts in place fresh provisioning norms forrestructured loans. To begin with, banks will need to step up provisioning on the existing

portfolio of restructured loans expected to touch `3.25 lakh crore at the end of March thisyear from 2.75% to 5% by March 2015. This could cost them an estimated `7,300 crore.Moreover, assuming the recasts continue at a pace of `5,000 crore a month, it would take the

portfolio to roughly `4.5 lakh crore by 2015. That could result in additional provisioningrequirement of around `6,000 crore.

Base Rate: What is Base Rate?

Base Rate. What is Base Rate?

Base Rate is the minimum rate below which Banks are not permitted to lend barring certainexceptions. It is the minimum rate of interest that a bank is allowed to charge from itscustomers. Reserve Bank of India (RBI) rule stipulates that no bank can offer loans at a ratelower than the Base Rate to any of its customers.

Base Rate replaced Bank Prime Lending Rate (BPLR) on July 1, 2010.

Present Base Rate:9.70% 10.50%

New Bank: RBI Issued Final Guidelines for

New Bank Licenses

Posted byAdminon February 23rd, 2013 |No Comments

Reserve Bank of India (RBI) Issued Final Guidelines for New Bank Licenses in Private

Sector.

The Reserve Bank of India (RBI), the central banking authority of India, on February 22,2013 issued the final guidelines for new bank licenses, allowing any type of company toapply for a permit, paving the way for new banks after nine years.
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Reserve Bank of India (RBI) said it would allow applications till July1, 2013. No specific industry was barred from applying, although draft rules issued in August2011 had barred real estate companies and brokerages.

The players which are expected throw their hat in the ring to get banking licenses are: L&TFinance Holdings, Tata Capital, Aditya Birla Financial Services, Reliance Capital, LICHousing Finance, Mahindra & Mahindra Financial Services, Religare Enterprises, andIndiabulls.

The guidelines come three years after the then Finance Minister Shri Pranab Mukherjeeannounced that the RBI is considering giving some additional banking licenses to privatesector players.

The last time that the central bank gave banking licenses was a decade ago when KotakMahindra Finance Ltd got converted into a commercial bank and YES Bank was floated.

Abstracts of Final Guidelines for new bank licenses issued by RBI:

Everyone is welcome, but with caveats:

Corporates, non-banking finance companies (NBFCs) and public sector entities canset up banks. Broking and real estate companies can also apply.

Promoters need to be financially sound with track record of 10 years. Positive feedback from other regulators and investigative agencies critical.

Ring fenced structure:

Promoters must set up banks through wholly-owned non-operative financial holdingcompanies.

Holding company and bank not permitted to lend or invest in any entity belonging tothe promoter group.

Shares of holding companies cannot be transferred to entities outside the promotergroup.

Shareholding in the bank:

Holding company to hold 40% stake in bank for 5 years. Holding company to reduce stake in the bank to 20% in 10 years, 15% in 12 years. Foreign shareholding capped at 49% for 5 years.

Capital requirements:

Minimum paid-up capital of the bank must be Rs 500 crore.
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The bank needs to maintain capital adequacy ratio at 13% for initial 3 years. The bank must get listed within 3 years.

Other conditions:

At least 25% of new branches must be in unbanked rural centres. At least 50% of the directors of holding company must be independent directors. The banks board must have a majority of independent directors.

Application process:

Applications for banking licenses need to be submitted by July 1, 2013. RBI to issue in-principle approval after considering recommendations from a high

level advisory committee. The in-principle approval will be valid for 1 year.

RTGS: Real-time gross settlement

Important Points

Posted byAdminon February 1st, 2013 |3 Comments

RTGS. What is RTGS? Short Notes on Real-time gross settlement (RTGS). All about Real-

time gross settlement (RTGS).

Real-time gross settlement (RTGS) maintains by the Reserve Bank of India. RTGS system

is a funds transfer mechanism where transfer of money takes placefrom one bank to another on a real time and on gross basis. This is the fastest possiblemoney transfer system through the banking channel. Settlement in real time means payment

transaction is not subjected to any waiting period. The transactions are settled as soon as theyare processed. Gross settlement means the transaction is settled on one to one basis without

bunching with any other transaction. Considering that money transfer takes place in the booksof the Reserve Bank of India, the payment is taken as final and irrevocable.

RTGS is a large value funds transfer system whereby financial intermediaries can settleinterbank transfers for their own account as well as for their customers. The minimum valueof transaction in RTGS system is Rs 2,00,000. The system effects final settlement ofinterbank funds transfers on a continuous, transaction-by-transaction basis throughout the

processing day. Customers can access the RTGS facility between 9 am to 4:30 pm onweekdays and 9 am to 1:30 pm on Saturdays.
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Basel Norms: What are Basel banking

norms? (Basel-III, Basel-II, Basel- I)

Posted byAdminon February 1st, 2013 |2 Comments

Basel Norms: What are Basel banking norms? (Basel-III, Basel-II, Basel- I). Short Notes

on Basel Banking Norms.

The Basel Committee on Banking Supervision (BCBS) provides aforum for regular cooperation on banking supervisory matters. Its objective is to enhanceunderstanding of key supervisory issues and improve the quality of banking supervisionworldwide.

Currently there are 27 member nations in the committee. Basel guidelines refer to broadsupervisory standards formulated by this group of central banks- called the Basel Committeeon Banking Supervision (BCBS).

What are Basel norms?

Basel is a set of standards and practices developed for global banks to ensure that theymaintain adequate capital to withstand periods of economic strain. It is a comprehensive setof reform measures designed to improve the regulation, disclosures and risk managementwithin the banking sector.

Basel I

In 1988, BCBS introduced capital measurement system called Basel capital accord, alsocalled as Basel 1. It focused almost entirely on credit risk. It defined capital and structure of

risk weights for banks. The minimum capital requirement was fixed at 8% of risk weightedassets (RWA). RWA means assets with different risk profiles. For example, an asset backed

by collateral would carry lesser risks as compared to personal loans, which have no collateral.India adopted Basel 1 guidelines in 1999.

Basel II

In 2004, Basel II guidelines were published by BCBS, which were considered to be therefined and reformed versions of Basel I accord. The guidelines were based on three

parameters. Banks should maintain a minimum capital adequacy requirement of 8% of riskassets, banks were needed to develop and use better risk management techniques inmonitoring and managing all the three types of risks that is credit and increased disclosure
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requirements. Banks need to mandatorily disclose their risk exposure, etc to the central bank.Basel II norms in India and overseas are yet to be fully implemented.

Basel III

In 2010, Basel III guidelines were released. These guidelines were introduced in response tothe financial crisis of 2008. A need was felt to further strengthen the system as banks in thedeveloped economies were under-capitalized, over-leveraged and had a greater reliance onshort-term funding. Also the quantity and quality of capital under Basel II were deemedinsufficient to contain any further risk. Basel III norms aim at making most banking activitiessuch as their trading book activities more capital-intensive. The guidelines aim to promote amore resilient banking system by focusing on four vital banking parameters viz. capital,leverage, funding and liquidity.

ASBA: What is ASBA? | ASBA Facility |

ASBA Procedure

Posted byAdminon January 27th, 2013 |2 Comments

ASBA: What is ASBA? ASBA Facility, ASBA Procedure, Who can apply for ASBA?

ASBA (Applications Supported by Blocked Amount)is a process developed by the IndiasStock Market Regulator Securities and Exchange Board of India (SEBI) for applying to IPO.In ASBA, an IPO applicants account doesnt get debited until shares are allotted to them.

ASBA is a supplementary process for applying in public issues floated by the Companies.ASBA can be used for Initial and Follow-on Public Offers (IPO & FPO), Rights Issues, DebtIssues and Mutual Funds. Under ASBA, funds will continue to earn interest during theapplication processing period. Bank will mark a lien on the deposit account of the investor tothe extent of the application money. Lien will be removed immediately after finalization ofthe basis of allotment. If bid is successful, the shares allotted will be transferred to theapplicants Demat account.

An Investor can apply through ASBA, provided he/she:

is from any of the approved category eligible to apply in IPO as per SEBI guidelines. is maintaining a Savings Bank or Current Account with any bank. is having Demat account with any of the DP along with Permanent Account Number

(PAN). has sufficient clear credit balance in his/her Savings Bank or Current account for

application money.

Important Points

A Retail Individual Investor (Individual or HUF Applicant up to Rs 200000/-) canalso modify, revise or delete the bid within bidding period.

All other categories cannot withdraw the application and can modify only upwardly. An Investor can make 5 applications from a single deposit account.
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ASBA Procedure Explained by National Stock Exchange (NSE):

Picture:NSEIndia

Marginal Standing Facility or MSF Rate,Definition, Short Note


Marginal Standing Facility (MSF) Rate- Definition/Meaning of Marginal Standing

Facility (MSF) by Reserve Bank of India (RBI). What is MSF?

Marginal Standing Facility (MSF) is the rate at which scheduled banks could borrow fundsovernight from the Reserve Bank of India (RBI) against approved government securities.

Banks can borrow funds through MSF during acute cash shortage(considerable shortfall of liquidity). This measure has been introduced by RBI to regulate

short-term asset liability mismatches more effectively.
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The Marginal Standing Facility (MSF) is pegged 100bps or 1 % above the Repo Rate.

To provide greater liquidity cushion the Reserve Bank of India (RBI) introduced MarginalStanding Facility or MSF. RBI announced the introduction of MSF on May 3, 2011 and itwas effected from May 9, 2011.

Reserve Bank of India, in its annual policy statement, has declared The stance of monetarypolicy is, among other things, to manage liquidity to ensure that it remains broadly inbalance, with neither a large surplus diluting monetary transmission nor a large deficitchoking off fund flows.

Marginal Standing Facility Rate:Under this scheme, Banks will be able to borrow upto 2%(wef 17/04/2012) of their respective Net Demand and Time Liabilities (NDTL).

Some Important Questions on Marginal Standing Facility (MSF):

1.What is the Present Marginal Standing Facility (MSF) Rate?Answer:9%

2.What is Marginal Standing Facility (MSF)?Answer: Already explained above.

3.MSF is costlier than Repo Rate, then Why do banks borrow money from RBI using MSF?Answer:Yes, MSF is 1% costlier than the Repo Rate. But usually banks borrow money fromRBI during acute cash shortage.

If you have any queries/questions please ask in comment section.

Connected Lending: What is Connected

Lending and Guidelines


Connected Lending. What is Connected Lending, RBI Guidelines on Connected Lending

Relationships.

What is Connected Lending?

If a Bank owned by private person or entities, start to lend to itsdifferent verticals. To safeguard the interest of customers and stake holders, the ReserveBank of India (RBI) has set few norms for that.
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Example- Mr X is a owner/director of a Bank and he is also involved in different businesslike aviation, telecom, retail, insurance, infrastructure etc. If he utilities banks fund to financehis other vertical it will be termed as Connected Lending.

What happens in connected lending is that the bank of Mr X might be in profit but Mr Xs

verticals might be in losses, to sustain that losses he might not increase interest rates and alsowill not pay dividend to stake holders which has to be given as the bank was in profit.

Cheque Truncation System (CTS)

Important Points and FAQs

Posted byAdminon January 15th, 2013 |1 Comment

Cheque Truncation System (CTS) Important Points and Frequently Asked Questions

(FAQs) on Cheque Truncation System.

What is Cheque Truncation?

Cheque Truncation is settlement of clearing transactions on the basis of images and electronicdata without the physical movement of the instruments. The Clearing Cheque is truncated atthe Presenting bank itself.

A cheque truncation system allows a Financial Institution to truncate cheques at the Point ofCapture by providing the capabilities of presenting chques to the paying bank

electronically and process return cheques electronically.

CTS 2010 is the standard prescribed by the RBI for cheques issued by all banks in thecountry.

Why Cheque Truncation System in India?

Cheque Truncation speeds up the process of collection of cheques resulting in better serviceto customers, reduces the scope for clearing-related frauds or loss of instruments in transit,lowers the cost of collection of cheques, and removes reconciliation-related and logistics-related problems, thus benefiting the system as a whole.

Cheques are still the prominent mode of payments in the country and Reserve Bank of Indiahas decided to focus on improving the efficiency of the cheque clearing cycle, offeringCheque Truncation System (CTS) as an alternative. As highlighted earlier, CTS is a moresecure system vis-a-vis the exchange of physical documents.

In addition to operational efficiency, CTS offers several benefits to banks and customers,including human resource rationalization, cost effectiveness, business process re-engineering,

better service, adoption of latest technology, etc. CTS, thus, has emerged as an importantefficiency enhancement initiative undertaken by RBI in the Payments Systems area.

Cheque Truncation Conceptual Diagram:
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Cheque Truncation System (CTS) Process Flow:

(Click Here to Zoom in)

Benefits of Cheque Truncation System:

Better Customer Service Enhanced Customer Window T+0 for Local Clearing and T + 1 for inter-city clearing. Elimination of Float Incentive to shift to Credit Push payments. The jurisdiction of Clearing House can be extended to the entire country No Geographical Dependence Operational Efficiency will benefit the bottom lines of banks Local Clearing activity

is a high cost no revenue activity. Minimises Transaction Costs. Reduces operational risk by securing the transmission route.

Whether the Cheque Truncation System has legal sanction?

With amendments in the Sections 6 and 1(4), coupled with the introduction of 81 A to theNegotiable Instruments Act, 1881, truncation of cheques is now legalized.

For more updates onCheque Truncation Systemplease refer the website of Reserve Bank

of India.
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NEFT: National Electronic Funds Transfer

Important Points

Posted byAdminon January 1st, 2013 |No Comments

NEFT. What is NEFT? Short Notes on National Electronic Funds Transfer (NEFT). All

about National Electronic Funds Transfer (NEFT).

National Electronic Fund Transfer (NEFT) system is a nation-wide system that facilitatesindividuals, firms and corporates to electronically transfer funds from any bank branch to anyindividual, firm or corporate having an account with any other bank branch in the country.

The Reserve Bank of India (RBI) maintains this payment network. NEFT system is a fundstransfer mechanism where transfer of money takes place from one bank to another on a

deferred net settlement basis.

For being part of the NEFT funds transfer

network, a bank branch has to be NEFT-enabled. Indian Financial System Code (IFSC) isrequired to perform a transaction using NEFT. IFSC code identifies a specific branch of a

bank.

Important Points to Know about NEFT:

1. The National Electronic Funds Transfer enables electronic transfer of funds between twoNEFT-enabled bank branches. It can also be used to transfer funds from or to NRE/NROaccounts in India. Remittance is not allowed to a foreign country, except Nepal.

2. The transactions are bunched up and settled in batches at specified times. There are 12

settlements from 8 am to 7 pm on weekdays, and six from 8 am to 1 pm on Saturdays. If atransaction is initiated after a batch settlement time, its deferred to the next batch.

3. There is no minimum or maximum limit on the amount that can be transferred underNEFT. Even those who do not have a bank account with a branch can deposit cash at theNEFT-enabled branches, but such remittances can be made up to a maximum of Rs 50,000per transaction.

4. The credit for the first 10 batches on weekdays (8 a.m. to 5 p.m.) and the first five batcheson Saturdays (8 a.m. to 12 noon) takes place on the same day. For the other batches, the funds

may be credited on the next working day.
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5. The inward transactions for NEFT are free, while the outward transactions are charged.This ranges from a maximum of Rs 2.50 for amounts up to Rs 10,000 to a maximum of Rs 25for transfer amounts above Rs 2 lakh.

Salient Features of Banking Laws

(Amendment) Bill 2012

Posted byAdminon December 25th, 2012 |No Comments

Salient Features of Banking Laws (Amendment) Bill 2012. Important Points of Banking

Laws (Amendment) Bill 2012.

The Banking Laws (Amendment) Bill 2011 was introduced in order to amend the BankingRegulation Act, 1949, the Banking Companies (Acquisition and Transfer of Undertakings)Act, 1970/1980. The Banking Laws (Amendment) Bill 2012 has been passed by both theHouses of Parliament during Winter Session, 2012.

This Bill would strengthen the regulatory powers ofReserve Bank of India (RBI), the central banking institution and to further develop the

banking sector in India. This bill will also enable the public sector banks to raise capital byissue of preference shares or rights issue or issue of bonus shares. It would also enable themto increase or decrease the authorized capital with approval from the Government and RBI

without being limited by the ceiling of a maximum of Rs. 3000 crore.

Beside above, the Bill would pave the way for new bank licenses by RBI resulting in openingof new banks and branches. This would not only help in achieving the goal of financialinclusion by providing more banking facilities but would also provide extra employmentopportunities to the people at large in the banking sector.

The salient features of the Bill are as follows:

To enable banking companies to issue preference shares subject to regulatory guidelines by

the RBI;
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To increase the cap on restrictions on voting rights;

To create a Depositor Education and Awareness Fund by utilizing the inoperative depositaccounts;

To provide prior approval of RBI for acquisition of 5% or more of shares or voting rights ina banking company by any person and empowering RBI to impose such conditions as itdeems fit in this regard;

To empower RBI to collect information and inspect associate enterprises of bankingcompanies;

To empower RBI to supersede the Board of Directors of banking company and appointmentof administrator till alternate arrangements are made;

To provide for primary cooperative societies to carry on the business of banking only after

obtaining a license from RBI;

To provide for special audit of cooperative banks at instance of RBI by extendingapplicability of Section 30 to them; and

To enable the nationalized banks to raise capital through bonus and rights issue andalso enable them to increase or decrease the authorized capital with approval from theGovernment and RBI without being limited by the ceiling of a maximum of Rs. 3000 croreunder the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980.

Certain additional official amendments have been proposed on the basis of recommendationsof the Standing Committee of Finance which gave its report on the Bill on the 13thDecember, 2011 and has recommended enactment of the Bill, subject to the followingmodifications:

i) Voting rights in banks may be restricted up to 26%.

ii) The Depositors Education and Awareness Fund may be used for the purpose of promotingdepositors interests.

Further, pursuant to the discussion with Indian Banks Association (IBA), RBI and Industry

Associations, the following additional amendments are proposed:

a) to exempt guarantee agreements of banks from the purview of the section 28 of the IndianContract Act, 1872 to bring finality to redemption of such guarantees;

b) to allow select Directors on the Board of RBI a fixed maximum tenure of eight years withterms of not more than two terms of four years each either continuously or intermittently inconsonance with the directions of the ACC;

c) to exempt conversion of branches of foreign banks to wholly owned subsidiary entities offoreign banks and transfer of shareholding of banks to the Holding Company structure

pursuant to guidelines of RBI from payment of stamp duty; and


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d) to ensure that unnecessary inspections are avoided and to encourage regulatorycoordination, a condition has been added such that the inspection of the associate enterpriseof a banking company would be conducted by RBI jointly with the sector regulator.

Foreign Institutional Investor (FII)

Important Points, Short Notes about FII

Posted byAdminon September 17th, 2012 |4 Comments

Foreign Institutional Investor (FII) Important Points. Short Notes on Foreign Institutional

Investor (FII). Question and Important Points about FII.

Short Note on Foreign Institutional Investor (FII):

Foreign Institutional Investor (FII) means an institution established

or incorporated outside India which proposes to make investment in India in securities, realproperty and other investment assets. In India Foreign Institutional Investor (FII) refers tooutside companies investing in the Indian Financial Markets.

India opened its stock market to Foreign Institutional Investors (FII) in September 1992.Since 1993, India received portfolio investment from foreigners in the form of ForeignInstitutional Investment (FII) in equities.

In order to trade in Indian equity market, all Foreign Institutional Investors (FII) must registerwith the Securities and Exchange Board of India (SEBI) which is the regulator for thesecurities market in India.

One who propose to invest their proprietary funds or on behalf of broad based funds or offoreign corporates and individuals and belong to any of the under given categories can beregistered for FII.

Pension Funds Mutual Funds Investment Trust Insurance or reinsurance companies Endowment Funds University Funds
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Foundations or Charitable Trusts or Charitable Societies who propose to invest ontheir own behalf, and

Asset Management Companies Nominee Companies Institutional Portfolio Managers Trustees Power of Attorney Holders Bank

NABARD Important Points to

Remember, Short Notes on NABARD

Posted byAdminon August 30th, 2012 |15 Comments

Short Notes on NABARD:

National Bank for Agriculture and Rural Development (NABARD) is an apex developmentbank in India. The Committee to Review Arrangements for Institutional Credit forAgriculture and Rural Development (CRAFICARD) under the Chairmanship of Shri B.Sivaraman, conceived and recommended the establishment of the National Bank forAgriculture and Rural Development (NABARD).

The Committee to Review Arrangements for Institutional Credit forAgriculture and Rural Development (CRAFICARD) was set up by the Reserve Bank of India(RBI). NABARD was established on 12 July 1982 by a special act by the parliament.

The main objective behind the set up of NABARD was to uplift rural India by increasing thecredit flow for elevation of agriculture & rural non farm sector.

Government of India holds 99% stake. in NABARD and currently 1% is held by the RBI.Initially, the RBI held 72.5 per cent of equity in NABARD but in October, 2012 the ReserveBank of India (RBI) has divested 71.5 per cent stake amounting to Rs 1,430 crore in NationalBank for Agriculture and Rural Development (NABARD) in favour of the government.

NABARD is active in developing financial inclusion policy and is a member of the Alliancefor Financial Inclusion.
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NABARD replaced the Agricultural Credit Department (ACD) and Rural Planning andCredit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and DevelopmentCorporation (ARDC).

Headquarters of NABARD is situated in Mumbai, Maharashtra, India. The Present Chairman

of NABARD is Dr. Prakash Bakshi.

Important Points to Remember about NABARD:

National Bank for Agriculture and Rural Development (NABARD) is an apexdevelopment bank in India.

NABARD was established on the recommendations of Shivaraman Committee. NABARD was established by an act of Parliament on 12 July 1982 to implement the

National Bank for Agriculture and Rural Development Act 1981. NABARD replaced the Agricultural Credit Department (ACD) and Rural Planning

and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and

Development Corporation (ARDC). Headquarters of NABARD is situated in Mumbai, Maharashtra, India. The Present Chairman of NABARD is Dr. Prakash Bakshi. NABARD completed its 25 years on 12 July 2007 and Completed its 30 year in 12

July, 2012. NABARD announced Rural Innovation award to celebrate its 30th foundation day.

RuPay Card All Information aboutRuPay and RuPay Card

Posted byAdminon August 29th, 2012 |6 Comments

All Information about RuPay and RuPay Cards (RuPay ATM, RuPay MicroATM,

Debit, Prepaid and Credit Cards)

Short Notes of RuPay:

RuPayis the Indian domestic card payment network set up by National PaymentsCorporation of India (NPCI) at the behest of banks in India. The RuPay project had beenconceived by Indian Banks Association (IBA) and had the approval of Reserve Bank of India(RBI).
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National Payments Corporation of India(NPCI) has a plan to provide a full range of card payment services including the RuPayATM, RuPay MicroATM, Debit, Prepaid and Credit Cards which will be accepted in Indiaand abroad, across various channels like POS, Internet, IVR and mobile etc.

The initial focus of NPCI would be to approach those banks who have not been issuing anypayment card at all more specifically Regional Rural Banks (RRBs) and urban co-operativebanks.

All Public Sector Undertakings (PSU) banks set to join RuPay system by the end of year2012. RuPay-based debit cards can be used by the consumers on the Internet from September,2012.

The government of India had launched Indias first domestic payment card network, RuPay,to compete with Visa Inc and Mastercard Inc.

Objectives of RuPay:

The Main Objective of the RuPay payment network project is to reduce the overalltransaction cost and develop products appropriate for financial inclusion.

Reduce overall transaction cost for the banks in India by introducing competition tointernational card schemes.

Develop products appropriate for the country particularly for financial inclusion. Provide card payment service option to many banks who are currently not eligible for

card issuance under the eligibility criteria of international card schemes. Build environment whereby payment information of the country remains within the

country Shift Personal Consumption Expenditure (PCE) from cash to electronic payments in a

growing economy with a population of 1.2 billion

Important Points to Remember:

RuPayis the Indian domestic card payment network. The RuPay payment network set up by National Payments Corporation of India

(NPCI) at the behest of banks in India. The RuPay project had been conceived by Indian Banks Association and had the

approval of Reserve Bank of India.
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The main objective of RuPay project is to reduce overall transaction cost for the banksin India by introducing competition to international card schemes.

NPCI has plan to provide full range of credit service like RuPay ATM, RuPayMicroATM, Debit, Prepaid and Credit Cards which will be accepted across variouschannel POS, Internet, IVR, Mobile etc.

All state-owned banks are expected to join the RuPay system by the end of this year. RuPay-based debit cards can be used by the consumers on the Internet from

September, 2012.

Female Deputy Governors of Reserve Bank

of India a Complete List

Posted byAdminon August 1st, 2012 |7 Comments

Female Deputy Governors of the Reserve Bank of India (RBI). First Female/ Woman/ LadyDeputy Governors of the RBI. List of Female Deputy Governors of the Reserve Bank ofIndia (RBI).

K J Udeshi: (10.06.2003 to 12.10.2005)

K J Udeshi becomes the first woman RBI deputy governor. K J Udeshi has been appointedthe deputy governor of the Reserve Bank of India (RBI). She is the first woman deputygovernor of the RBI. The appointment is till 12 October 2005 when she completes 62 years

of age.

Shyamala Gopinath:(21.09.2004 to 08.09.2009, 09.09.2009 to 20.06.2011)

Shyamala Gopinath is the former deputy governor of the Reserve Bank of India (RBI).Gopinath served as deputy governor of Reserve Bank of India from September 21, 2004 toJune 20, 2011. She was the second lady deputy governor of RBI.

Smt Usha Thorat:(10.11.2005 to 09.11.2010)

Usha Thorat served as Deputy Governor of the Reserve Bank of India (RBI) from November10, 2005 to November 8, 2010. Prior to this she was the executive Director of the RBI.
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Gyanodaya e-learning portal of State

Bank of India

Posted byAdminon April 25th, 2012 |1 Comment

The Union Finance Minister Pranab Mukherjee inaugurated the Golden JubileeCelebrations of State Bank of India Staff College, Hyderabad from State Bank of IndiaAcademy at Gurgaon, Haryana on March 11, 2012. Mukherjee ee also unveiled theFoundation Stone of Gyan Prasar Kendra (Knowledge Dissemination Centre) to be set-up atSBI Staff College, Hyderabad. The Finance Minister also launched Gyanodaya, an E-Learning Portal of SBI on the occasion.

Indian Banks Association (IBA)

Posted byAdminon March 19th, 2012 |4 Comments

The Indian Banks Association (IBA) was formed on the 26th September, 1946 with 22members. Today IBA has more than 156 members comprising of Public Sector Banks,Private Sector Banks, Foreign Banks having offices in India, Urban Co-operative Banks,Developmental Financial Institutions, Federations, Merchant Banks, Mutual Funds, HousingFinance Corporations, etc.

Organizational Structure of IBA:

The Managing Committee manages the affairs, business and funds of IBA. The managingCommittee is elected by the Ordinary members of the Association, and is the highestmanagement and policy making body of the Association.

The Chairman of the Association heads upon the working of the Association. He providesguidelines to the Association. The administrative head of IBA is the Chief Executive of IBA.

General Awareness Questions for IBPS2012 Exams


Latest General Awareness Questions with Special reference to the Banking Industry for IBPSPO/MT, IBPS Specialist Officer, IBPS Clerk Examinations.

1. The man who re-invented The New York Times Lois Silverstrein2. Bank of India (BOI) picks up 51% stake in Bharti Axa Mutual fund
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3. Union Bank of India (UBI) has hiked the benchmark prime lending rate to 15.5percent

4. State Bank of Travancore has announced a hike in interest rates for NREDeoisitsDeposits

5. SBI has increased rates on FCNR (B) deposits in all six currencies by 25 basis points6. Finance Ministry supported for 26% FDI in aviation Industry7. Indias export to Canada rose by 32 percent8. The Federation of Indian Chamber of Commerce and Industry (FICCI) has announced

to open an office in which city of Pakistan? Lahore9. A recent study reveals, 40 percent of Worlds Uranium reserves is in Australia10.Naresh K Nayyar has been appointed Deputy Chairman of Essar Oil

HDI Report 2011- India Human

Development Report 2011

Posted byAdminon November 22nd, 2011 |2 Comments

India Human Development Report 2011 was released by Planning CommissionDeputy Chairman Montek Singh Ahluwalia and rural Development minister JairamRamesh on October 21, 2011.

This was the Second India Human Development Report. The report has been prepared by Institute of Applied Manpower Research, an

Autonomous body under the Planning Commission. The report says Indias Human Development Index (HDI), based on indicators such

as Health, Education and Income, registered impressive gains in the last decade as theindex increase by 21 percent ti 0.467 in 2007-2008 from 0.387 in 1999-2000.

HDI is a composite index comprising three indicators Consumption Expenditure (A

proxy for income), Education and Health. The states with the most serious health concerns Madhya Pradesh, Uttar Pradesh,

Orrisa and Assam showed the most improvement. The report also cites the fall of overall fertility rate as the greatest achievement in

health sector. The improvement in health index stands at 13.2 % between 2000 and 2008. The leap in development was mainly on account of the 28% jump in education index

alone, compared to a decade ago when first such report published.
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Kerala is ranked No 1 in HDI for achieving the highest literacy rate, quality healthservice and consumption expenditure of people.

Delhi ranked 2nd, Himachal Pradesh ranked 3rd, Goa ranked 4th and Punjab ranked5th in HDI report.

Report listed Chhattisgarh, Odisha, Madhya Pradesh, Uttar Pradesh, Jharkhand,Rajasthan and assam as states lagging behind in the HDI and below the nationalaverage of 0.467.

Bank for International Settlements (BIS)

Important points to remember

Posted byAdminon November 7th, 2011 |No Comments

o Bank for International Settlements is an International organization.o BIS was established by the Hague agreements.o BIS was established in 1930.o First General Manager of BIS was Pierre Quesnay of France.o The purpose of is to increase the cooperation between the Central banks.o Number of member 58 central bankso Location of Bank for International Settlements (BIS) Basel, Switzerlando The present General manager of Jaime Caruana of Spain.o Bank for International Settlements (BIS) also provides banking services, but

only to central banks, or to international organizations like itself.o BIS has representative offices in Hong Kong and Mexico City.o In 2004 Bank for International Settlements (BIS) has published its accounts in

terms of Special Drawing Rights, or SDRs, replacing the Gold Franc as thebanks unit of account.

First Bank in India GK Questions from

Banking Sector

Posted byAdminon November 6th, 2011 |No Comments

First Bank in India was Bank of Hindusthan established in 1779. Banking Concept was brought in India by European. First Presidency Bank of India Bank of Calcutta established in 1806 and

immediately became Bank of Bengal The first bank of India with limited liability to be managed by Indian board was Oudh

Commercial Bank. It was established in 1881. The first bank purely managed by Indian was Punjab National Bank. PNB was

established in Lahore in 1895. First Indian Commercial Bank wholly managed and owned by Indian was Central

Bank of India, established in 1911. Indias first truly Swadeshi bank was Central bank of India
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First Indian bank to open a branch outside India is Bank of India First Indian bank to open a branch in Continental Europe at Paris is Bank of India Which of the following was the first public sector commercial bank which had

launched a mutual fund? State Bank of India Which of the following bank became the first in India to be fully computerized?

Bank of India First cooperative bank in Asia? Anyonya Co-operative Bank. First bank in India to facilitate payment of Income tax using ATM recently? - Union

Bank of India First Bank in India to launchTalking ATMsfor differently-able person? Union

Bank of India

GK Questions: Heads of Important Indian

Organizations

Posted byAdminon November 6th, 2011 |2 Comments

Chairman, Planning Commission-Prime Minister Speaker, Lok Sabha-Mira Kumari Chairman, Rajya Sabha-Vice President Deputy Chairman, Rajya Sabha -Dr K Rehman Khan Deputy Speaker, Lok Sabha -Karia Munda

Leader of Opposition (Lok Sabha) -Sushma Swaraj Leader of Opposition (Rajya Sabha) -Arun Jaitley Deputy Chairman, Planning Commission -Montek Singh Ahluwalia Chief Election Commissioner S.Y. Quraishi (CEC),V.S. Sampath (EC),

Harisankar Brahma (EC) Election Commissioner Mr. B.R. Monga, Mr. V.S.Sampath,Mr. R.M.Bhatia Comptroller and Auditor General of India Vinod Rai Chairperson, National Human Rights Commission (NHRC) K G Balakrishnan Cabinet Secretary A.K. Seth (2011- Till date) Principal Secretary to Prime Minister Pulok Chatterji Chairman, National Commission for Backward Classes Mr. Justice M. N. Rao Chairperson, National Commission for Protection of Child Rights Ms. ShantaSinha Chairman, National Commission for Scheduled Castes Dr. Buta Singh

President, FICCI Mr. Rajan Bharti Mittal Chairman, TRAI Mr. J. S. Sarma
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Director, Enforcement Directorate Mr. R. N. Das Chairman, Pension Fund Regulatory &Development Authority Mr. Yogesh

Agarwal Central Vigilance Commissioner Pradeep Kumar Director, Bhabha Atomic Research Centre Dr. Ratan Kumar Sinha Information Commissioner -Mr. Wajahat Habibullah President, Indian Olympic Association Vijay KUMAR MALHOTRA (Acting

President) Director, NCERT -Prof. Krishan Kumar President, CII Mr. Hari S. Bharti: Chairman, National Knowledge Commission Mr. Sam Pitroda Ms. Mrinal Pande : Chairman, Prasar Bharti Board- Ms. Mrinal Pande Chairman, Investment Commission Mr. Ratan Tata Chairman, NASSCOM Mr. Harsh Manglik President, The Associated Chambers of Commerce andIndustry of India

(ASSOCHAM)- Mr. Dilip Modi. Chairman, National Film Development Corporation Om Puri Chairman, United News of India Ravindra Kumar Chairman, PTI Mr. N. Rav President, Indian Newspaper Society Hormusji N. Cama Chairperson, Competition Appellate Tribunal- Chairman and MD, NHPC -Shri. A.B.L. Srivastava, Chairman and MD, ONGC -Sudhir Vasudeva replacing A K Hazarika. Chairman and MD, GAIL -B. C. Tripathi Chairman and MD Coal India Limited -Nirmal Chandra Jha Chairman, Indian Oil Corporation (IOC) -R S Butola CMD, Oil India Ltd -Mr. Nayan Mani Borah Chairman, CBSE -Vineet Joshi Chairman, Securities and Exchange Board of India -U.K Sinha Chairman, NABARD -Dr. Y S P Thorat Managing Director NABARD -Dr. K G Karmakar Chairman, SBI -Pratip Chaudhuri Chairman, United Bank of India (UBI) -Shri Bhaskar Sen Chairman, Bank of Baroda -Shri. M. D. Mallya Chairman, Bank of India-Shri Alok Kumar Misra Chairman, Allahabad Bank -Shri J. P. Dua. Chairman, Punjab National Bank-K R Kamath

Chairman, Central Bank of India -M.V TANKSALE Chairman, Andhra Bank-Sri R Ramachandran Chairman, Bank of Maharashtra -Anup Sankar Bhattacharya Chairman, Canara Bank -Shri. S RAMAN Chairman, Corporation Bank-Shri Ajai Kumar (Appointed on 1st October 2011) Chairman, Dena Bank -Smt. Nupur Mitra Chairman, Indian Bank -Shri T.M. Bhasin Chairman, Indian Overseas Bank -Shri. M.Narendra Chairman, Oriental Bank of Commerce -Nagesh Pydah Executive Director, Punjab and Sind Bank -Shri Praveen Kumar Anand Chairman, Syndicate Bank -Basant Seth Chairman, UCO Bank -Shri Arun Kaul Chairman, Union Bank of India -SHRI M.V.NAIR


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Chairman, Vijaya Bank -Albert Tauro Chairman, IDBI-Shri neelabh krishna Governor, RBI -Duvvuri Subbarao Chairman, Company Law Board -Dilip Raosaheb Deshmukh Indias Permanent Representative to UN -Hardeep Singh Puri Chairman, LIC -Shri D.K. Mehrotra Managing Director, LIC -Shri T. S. Vijayan Chairman, Central Water Commission -Ex-Officio Secretary to the Government of

India Chairperson, National Commission for Women-Ms. Mamta Sharma Chairman, 13th Finance Commission -Prime Minister Chairman, National Statistical Commission -R.Radhakrishna Chairperson, Central Board of Film Certification -Leela Samson Director-General, Archaeological Survey of India -Dr. Gautam Sengupta Director-General, Defence Intelligence Agency -Lt. Gen. Avtar Singh Chairman, UGC -Prof. Sukhadeo Thorat Scientific Adviser to Defence Minister and Secretary, Defence Research and

Development Organisation -Dr.V.K.Saraswat, Principal Scientific Adviser to the Government -Rajagopala Chidambaram Chairman, Space Commission and ISRO -Dr. K. Radhakrishnan Chairman, Atomic Energy Commission and Secretary, Dept. of Atomic Energy -

Dr. S. Banerjee, Chairman, SSC -NK Raghupat Chairman, National Forest Commission -Justice B. N. Kirpal Chairperson, National Dairy Development Board (NDDB) -Dr. Amrita Patel Director-General, Border Roads Organisation -Lt. Gen. S Ravi Shankar Secretary & Director General, Indian Council of Medical Research-Dr. V.M.

Katoch Registrar-General of India and Census Commissioner -Dr. C. Chandramouli, Chairman, Law Commission -Justice P.V. Reddy(19th law commission) Chairman, Press Council of India -Justice Markandey Katju Chairman, Audit Bureau of Circulations (ABC) -Vijay Darda Chairperson, Central Board of Direct Taxes(CBDT) -Sudhir Chandra Chairman, Central Board of Excise and Customs -S.Dutt Majumdar Chairman, National Commission for Scheduled Tribes -Shri Kunwar Singh Chairman, UPSC -Prof. D.P.Agrawal Chairman, National Commission on Farmers -Dr. MS Swaminathan

National Security Adviser and Special Adviser to PM (Internal Security) -ShivShankar Menon Director-General, National Investigation Agency(NIA) -SC Sinha Chairman, Railway Board -Vinay Mittal Secretary-General, Rajya Sabha -DR. VIVEK KUMAR AGNIHOTRI Secretary-General, Lok Sabha -Shri T. K. Viswanathan Director, IB -Mr. Nehchal Sandhu. Director, CBI -A.P. Singh Director, Research and Analysis Wing (RAW) -Sanjeev Tripathi Director-General, NSG -R K Medhekar Director-General, CRPF -K Vijay Kumar Director-General, Border Security Force (BSF) -U.K Bansal replacing RamanSrivastava


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Documents

Banking GK.pdf