Introduction
The article Banking Awareness One Liners March 2019 includes Banking Awareness One Liners with an explanation, analysis and issues of current events in the month of March. And these One Liners will help in the Competitive Exams like IBPS, RBI Grade B, SBI PO, RRB and other banking examinations.
March 2019
- Construction of a dam activity is termed as activity of tertiary sector.
- Information Technology industry is known as sun rising industry.
- 119 services (till 2012) are included in the service tax currently in India.
- Since 1994 the service tax is being imposed in India.
- America does receive largest share of total Indian exports.
- India imports 13.50% of its total import from China.
- India exported US $ 255.522 million till March 2015, while imports from the US during this period amounted to Rs 13,342 crore.
- India's foreign debt was $ 475 billion in March 2015, which increased $ 10.6 billion in 2016 to reach $485.6 billion.
- The maximum loan on the Government is in the form of commercial borrowings. It is 37.3% of the total loan.
- Indian state Maharashtra has highest SGDP of $380 billion while Lakshadweep has lowest SGDP of $60 million.
- In FY16, Uttar Pradesh's Gross Domestic Product was $ 184 billion, which is equivalent to the Gross Domestic Product of 'Romania'.
- At the end of March 2016, 57% of India's total external debt was in US dollars.
- In the financial year 2016, India's quota has increased from 2.44% to 2.7% in the IMF.
- India's total external debt in fiscal year 2016 was 23.7% of its Gross Domestic Product.
- Income tax, wealth tax and corporation tax are all direct taxes and levied by the central government. Sales tax, Excise duty and custom duty are indirect taxes.
- The Goods and Services Tax (GST) will only eliminate indirect taxes such as sales tax, excise duty and customs duty. There will be no impact on direct taxes.
- Custom duty is imposed on imported and exported goods.
- The right to impose stamp duty lies with Central Government, but the state government has the right to collect it.
- A country that gives foreign citizens the facility to invest in their country and do not pay any tax on the profit earned by the invested money. Mauritius and Cyprus provide this facility.
- There are three rates of income tax are applicable in India i.e. 5%, 10%, 20% and 30% which is progressive in nature initially but later on it becomes Proportional which is called degressive rate.
- According to Budget 2017-18, those peoples are earning 5 lakh to 10 lakh per annum have to pay income tax at the rate of 20% per annum.
- Agriculture comes under the jurisdiction of the state government; hence state can impose tax on it.
- 53% of total population of Indian population is dependent on agriculture.
- Punjab state uses biggest quantity of fertilizer in India.
- Black revolution is related to the Crude oil production.
- 60 % of GDP is contributed by the service sector.
- Formation of electronic television sector does not comes under the service sector in India.
- RBI was established on [latex]1^{st}[/latex] April 1935, based on recommendations of Hilton Young Commission.
- RBI allocates funds to NABARD for agricultural development. NABARD further allocates funds to farmers for agricultural development through rural banks and commercial banks.
- In India, the RBI is responsible for the printing of currency notes, while the work of printing one rupee note and all the minting of coins is done by the Finance Ministry.
- The first Indian-origin governor of the Reserve Bank of India was C.D. Deshmukh while very first Governor of RBI was Osborne Smith, an Englishman.
- The accounting year of the Reserve Bank of India is between [latex]1^{st}[/latex] July and [latex]30^{th}[/latex] June, while the country's financial year is between [latex]1^{st}[/latex] April and [latex]30^{th}[/latex] March.
- The term blue chip is not related to monetary policy. Blue chip is an adjective given to a company which provides assured profit.
- The Goods and Services Tax (GST) is a Canadian value-added tax levied on most goods and services sold for domestic consumption. In India this tax is levied to abolish the multiple indirect taxes in the country.
- GST will subsume all the indirect taxes applicable in India. Service tax is an indirect tax so it will be abolished throughout India.
- GST will comprise five basic rates: 0 percent, 5 percent, 12 percent, 18 percent and 28 percent.
- The GST Council aims to develop a harmonized national market of goods and services. The Union Finance Minister Arun Jaitley is the Chairman of the GST council.
- Market segmentation means grouping the customers as per their needs and tastes.
- Entertainment tax is imposed by State Government.
- The speakers of Lambadi language / dialect are prominently found in Rajasthan.
- NBFCs is not covered under the Banking Ombudsman Scheme, 2006.
- Muscat is the capital of Oman.
- Socio-economic planning is a part of Concurrent list.
- International Currency A/c is not called a Non-resident account.
- Usha Ananthasubramanian, Former MD & CEO of PNB has challenged the NLCAT order that made her a respondent in the case.
- Paytm and Paytm Mall are together out to raise fresh funding of around $2 billion which may take their valuation to around $20 billion.
- Tata Group has entered into airports segment and invested Rs.3555 Crores for a 20 percent stake in GMR Airports.
- Sonia Dhawan, former Paytm Executive, one of the prime accused in an extortion bid against Vijay Sharma, Paytm founder, has reportedly rejoined the company.
- Mutilated banknote is a banknote of which a portion is missing or which is composed of more than two pieces.
- Banks keep notes/coins in Currency Chest on behalf of RBI.
- The Reserve Bank of India has fined a penalty of Rs 2 crore on Punjab National Bank for non-compliance of regulatory directions with regard to SWIFT operations.
- Indian Oil Corporation (IOC), Bharat PetroResources Ltd. (BPRL), a subsidiary of Bharat Petroleum Corporation Ltd. (BPCL), acting jointly as a consortium through Urja Bharat Pte Ltd.
- The first Forex swap auction by Reserve Bank of India (RBI), which was aimed at infusing primary liquidity, received $16.31 billion bidding by banks. In turn, RBI infused Rs.34,561 crore rupee liquidity.
- L&T has made an open offer to acquire a 31% stake in Mindtree for Rs.5,030 crore.
- Grasim Industries has challenged the Rs.5,872.13 crore IT demand with respect to its merger with two Aditya Birla group firms.
- Northern Arc Capital has raised Rs.910 crore from IIFL Special Opportunities Fund and Standard Chartered PE. Northern Arc is a debt capital platform for financial institutions.
- RBI has directed banks to keep their branches dealing with government business open on [latex]31^{st}[/latex] March being the last day of the fy.
- Visa has launched a platform that will enable any bank to offer EMI facility to their debit cardholders for online purchases.
- Lakshmi Mittal helped his younger brother Pramod, owner of Global Steel Holdings, clear dues worth Rs.2210 crores to avoid legal troubles.
- Unitech has sold its power transmission business to Sterling and Wilson for Rs.100 crore.
- Singapore's DBS Bank plans to grow its balance sheet size three fold in five years. DBS recently started operations in India as a wholly owned subsidiary (WoS).
- NBFCs is not covered under the Banking Ombudsman Scheme, 2006.
- Certificate of Deposit (CD) is a negotiable money market instrument.
- Reserve Bank of India offered schedule bank status to Himachal Pradesh State Co-operative Bank.
- The monetary units of the International Monetary Fund is called SDR.
- 'How Not to Make Money' is a book written by Raj Kundra.
- Periyar tiger reserve is situated in Kerala.
- Bank rate refers to the Rate at which Central Bank re discounts bills of exchange of Commercial Banks.
- Corporation tax is levied by the union and belongs to it exclusively.
- Dodoma is the capital of Tanzania.
- Capital of Cambodia is Phnom Penh.
- The Full form of IFSC is Indian Financial System Code.
- Monetary Policy committee is chaired by Urjit Patel.
- “Open Market Operations” are a part of Credit Policy.
- The longest National Highway in India is Varanasi - Kanyakumari (NH7).
- A senior official appointed by the Reserve Bank of India is a Banking Ombudsman.
- Naresh Goyal and his wife Anita Goyal may reportedly leave the board of Jet Airways. However, Vinay Dube, the CEO, is expected to stay on board.
- Minority lenders have agreed to grant priority status to funding to Jet Airways. This will allow SBI and PNB to provide emergency funding to keep the airline afloat till the time a complete resolution plan is chalked out.
- PharmEasy is reportedly in early-stage talks to raise $100 million from SoftBank at a valuation of around $400 million.
- The Karnataka government revoked the suspension order of Ola. It had banned Ola last week from operating in the state for six months.
- State Bank of India has become the first domestic bank to link the interest rate it offers on savings account deposits to an external benchmark - the Reserve Bank of India's repo rate.
- The Reserve Bank of India has eased business guidelines for white label ATMs by allowing companies that manage these machines to source cash directly from the central bank.
- Indirect taxes are charged the same for all income groups and termed regressive taxing mechanisms.
- The Current MSF Rate is 6.75%.
- HDFC Bank enjoys the reputation of being at the top in market capitalization among all the private banks.
- "Claused Bill of Landing" is one which indicates Escalation in Project Cost.
- In the matter of handling bills of exchange for collection, the relationship between customer and the bank is Principal and agent.
- Hypothecation is A legal transaction whereby goods may be made available as security for a debt.
- Payment of a cheque may be countermanded by the Drawer.
- A Usance Bill when presented for acceptance has to be accepted/ dishonoured within 48 hours.
- First bank in India to launch its interactive banking service through Dish TV HDFC Bank.
- CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) has been set up on the recommendations of Kapoor Committee.
- The primary relationship between the banker and the customer is that of Debtor and Creditor.
- A debt becomes time-barred after Three years.
- Insurance cover for bank deposits in our country is provided by DICGC.
- Loan of very small amounts given to low income groups is called Micro credit.
- When a banker talks about CDR, he is talking about Corporate Debt Restructuring.
- Invoice is a Commercial document.
- A person become insolvent When he declares an insolvent by the Court.
- When two parties make an arrangement to exchange future cash flows, it is called Swap.
- YES Bank Wallet fully integrates the India Stack APIs and National Payment Corporation of India (NPCI) Products.
- A U Small Finance Bank financial institutions has received approval from RBI to operate as Scheduled Commercial Bank.
- Imperial Bank of India was re-named in 1955 as SBI.
- NABARD is the regulatory body for Regional Rural Banks (RRBs).
- Yes bank launched a deposit scheme, which could fetch up to 8 per cent for a tenure of little over 18 months.
- Indian lenders want the central bank to let their customers with UPI 2.0-enabled devices use the recurring payments feature for monthly loan repayments.
- Personal loans have become one of the most sought-after products for banks and new-age lenders.
- Hotstar has launched a subscription service, Hotstar VIP, at Rs.365 per year. The service will offer original and Star Network content including VIVO IPL, Cricket World Cup, etc.
- Phonepe is planning to invest Rs.500 Crore to give it a marketing push. It has also reportedly spent Rs.100 Crores in sponsorship during the upcoming IPL.
- The amount of gross NPAs in Gujarat at the end of December 2018 stood at Rs 38,520 crore which was 6.59 per cent of the gross advances made by the banks.
- The overall capital adequacy ratio (CAR) of SBI stood at 12.77 per cent, as against the regulatory requirement of 11.325 per cent as on December 31, 2018.
- IL&FS Transportation Networks is a subsidiary of debt-laden Infrastructure Leasing and Financial Services Ltd (IL&FS), which the government took control of in October, citing the need to protect the country's financial system and markets from a potential collapse.
- Non-banking finance companies’ (NBFC) dependence on bank credit has grown by a huge 48% year-on-year till January, reflecting a shift in focus from money markets to banks for funds amid tighter liquidity condition.
- Bank shares were trading in the positive zone in morning session with their sectoral index hitting the 30,000 mark for the first time ever.
- SBI chairman Rajnish Kumar has said that lenders would make all efforts to keep the airlines from slipping into bankruptcy.
- The headquarters of Oriental Bank of Commerce is New Delhi.
- Boutique Finance Scheme is launched by State Bank of India.
- State Bank of India launched 'YONO cash', cardless withdrawal of cash.
- Karur Vysya Bank announced that it has raised Rs 487 crore through Basel-III compliant bonds for funding its growth plans.
- As per RBI notification, IDBI Bank has been categorized as a private sector lender following the acquisition of majority stake by Life Insurance Corporation.
- Corporation Bank celebrated its 114th Foundation Day on 12th March at various centres of the bank across the nation and undertook 114 Corporate Social Responsibility (CSR) activities to mark the day.
- State Bank of India (SBI) has launched doorstep banking service for senior citizens over 70 years of age and differently-abled customers.
- State-owned Bank of India (BoI) raised Rs.660.80 crore by issuing shares to employees under Employee Share Purchase Scheme (ESPS). The bank issued 6,25,52,188 shares of Rs.10 each to eligible employees.
- Korea Exim Bank has come forward to extend a Rs 4,100 crore loan for Visakhapatnam (VIZAG) Metro Rail project.
- State Bank of India has become the first domestic bank to link the interest rate it offers on savings account deposits to an external benchmark - the Reserve Bank of India's repo rate.
- Reserve Bank of India(RBI) has eased business guidelines for White Label ATM's to source cash directly from the central bank.
- DBS Bank plans to grow its balance sheet size threefold in five years.
- Yes Bank has been empaneled as “ Settlement Bank “ by National Stock Exchange.
- Paytm Bank has launched an initiative ‘AshaKiran’ to empower women in India’s smaller towns and cities.
- Sebi has directed Fortis Healthcare and Fortis Hospitals to continue efforts to recover more than Rs.403 crores from Singh brothers and seven other entities.
- Asian Development Bank has entered into an agreement with Avaada Energy, a solar energy project developer, to invest USD 50 million.
- Cred, a fintech funded by Kunal Shah, is looking to raise another $70-100 million. The funding round is likely to be led by Sequoia Capital and Ribbit Capital, its existing investors.
- DivyaSree, a south Indian property developer and Kotak Investment Advisors have launched a new fund of $400 million to develop and acquire commercial office assets across India.
- Banks are likely to infuse fresh funds into cash-strapped Jet Airways provided major shareholders of the airline, including Gulf carrier Etihad Airways, pledge their shares as collateral.
- An RBI-appointed panel sought suggestions from the public on long-term solutions for economic and financial sustainability of MSME sector, including ways to improve credit rating mechanism to help them raise funds at competitive rates.
- Yes Bank has launched a deposit scheme named ‘Green Future: Deposit’, which could fetch up to 8 per cent for a tenure of little over 18 months.
- Global Rating agency Fitch has announced that Axis bank and ICICI banks have inequalities in their risk control mechanisms and has revised down its outlook on the latter to negative on sour assets worries.
- Marg ERP limited partnered with ICICI Bank to offer an integrated payments platform to Micro, Small and Medium Enterprise (MSME) customers, using MARG’s accounting software.
- According to forbes list HDFC Bank has been ranked as the 5th biggest public company globally in the ‘ consumer financial services category’.
- Union Bank of India was inaugurated by Mahatma Gandhi in 1919.
- After State Bank of India, Punjab National Bank has the largest number of offices.
- Bank rate and Repo rates are reviewed by the RBI at the time of bi-monthly review of the policy.
- The country Durban will host the 2022 Commonwealth Games.
- The headquarters of Allahabad Bank is located in Kolkata.
- Individual banks decides the interest rate on saving bank account.
- The tag line of Bank of Baroda is India’s international bank.
- The RBI is pushing banks to tighten the process of monitoring the end use of funds through enhanced surveillance as it seeks to arrest ever greening and prevent divergence of funds by corporate borrowers.
- The country's largest lender SBI said it has signed a pact with the Bank of China to boost business opportunities.
- RCom has terminated the deal to sell its telecom assets to Reliance Jio as it did not receive approval from Trai.
- Canada’s Brookfield Asset Management has agreed to acquire four hotels and a land parcel from Hotel Leelaventure for Rs.3,950 crore.
- SBI has revamped its credit-appraisal process, digging deep into step-down units at conglomerates to assess the credit worthiness of individual companies to which the bank is loaning funds.
- Heated Currency is used in forex market to denote the domestic currency which is under pressure of depreciation.
- Cash Cow is used for a profitable business which gives regular cash flow to the owner.
- Iran country’s security and exchange organisation signed an MoU with SEBI, India for mutual cooperation on matters pertaining to securities markets.
- National Housing Bank approved the merger of Aadhar Housing Finance and DHFL Vysya Housing Finance.
- Central Vigilance Commission has pointed out several irregularities in transactions involving the sale of NPA loan accounts by banks.
- BSNL will approach NLCT to recover dues of around Rs.700 Crores from Reliance Communications.
- RBI is not in favour of changing the name of IDBI Bank. The Board of IDBI Bank had proposed last month for a change of name after its takeover by LIC.
- Shaktikanta Das, the RBI Governor will hold discussions with the representatives of trade bodies and rating agencies on steps to boost economic activities and the interest rate on 26th March.
- The Reserve Bank of India’s newly constituted committee for MSME development has called for public suggestions on a list of seven underlying issues faced by the sector ranging from definition of MSME to infrastructural gaps and even the credit rating mechanisms in the industry.
- Private sector Lakshmi Vilas Bank has raised Rs 460 crore in a share sale from multiple investors helping it improve the finances which is battling to avoid getting into the Prompt Corrective Action of Reserve Bank of India.
- Top Indian officials, led by Sanjeev Sanyal, Principal Economic Adviser in the Ministry of Finance,are in talks with MSCI(Morgan Stanley Capital International), to strengthen the country’s case for higher weightage on key gauges.
- The human resource development ministry signed an MoU with Canara Bank had set up an agency to fund creation of infrastructure and research facilities at higher education institutes such as IIM and IIT.
- Axis bank announced biodegradable prepaid gift cards on the occasion of World Environment Day. The cards will be acceptable at all domestic merchant outlets and online portals.
- Depicting the nation's cultural heritage, the new currency notes of 50 have motif of – Hampi.
- Cash Advance Fee charged by Banks commonly on – Credit Cards.
- 2% of NDTL banks can borrow under Marginal Standing Facility (MSF).
- MMID stands for Mobile Money Identifier, a digit code issued by banks for availing IMPS. 7 digits are there in MMID.
- EFTPOS is an electronic payments system used to pay for goods & services. the 'T' stands for Transfer.
- Banking Ombudsman is appointed by – RBI.
- In India, Mutual Funds are regulated by– Securities and Exchange Board of India.
- A cheque which is payable to any person who presents it for payment at the bank counter is called – Bearer Cheque.
- Federal Bank was launched a new trading platform called as “Selfie”.
- The name of the first artificial intelligence based application launched by HDFC Life insurance email bot is SPOK.
- The rank of India in Healthcare Index 2017 is [latex]154^{th}[/latex].
- Investigation has been initiated against e-commerce giants Amazon and Flipkart for alleged violation of foreign exchange law.
- LIC holds 51 per cent stake in IDBI Bank under a specific permission from Irdai, but under the condition that it will bring it down.
- Bandhan Bank said it has received no objection from the Reserve Bank of India (RBI) for the proposed acquisition of Gruh Finance.
- City-based Allahabad Bank, which had recently come out from the prompt and corrective action (PCA) after RBI removed it from the weak bank watch list in February, is looking ways to raise capital in the next financial year.
- Corporation Bank celebrated its 114th Foundation Day on 12th March at various centres of the bank across the nation and undertook 114 Corporate Social Responsibility (CSR) activities to mark the day.
- State Bank of India (SBI) has launched doorstep banking service for senior citizens over 70 years of age and differently-abled customers.
- The Board of Directors of Kotak Mahindra Bank noted appointment of Narayan S.A as non-executive chairman of the Kotak Securities.
- HDFC Capital Advisors, the real estate-focused fund management arm of HDFC Ltd, and property developer Tribeca have set up a platform to develop mid-income housing projects in Mumbai and Delhi-National Capital Region (NCR).
- Customers of State Bank of India will no longer require debit cards to withdraw cash from ATM. The state-owned lender announced Friday that the customers can generate a one-time pin (OTP) on their mobile application and use the pin to transact from the bank’s ATM.
- The RBI told the Supreme Court that the inter-creditor agreement (ICA) aimed at helping debt defaulters avoid bankruptcy proceedings requires the approval of 66% of lenders and not all of them, backing the plan that had been drawn up at the behest of the finance ministry.
- The Reserve Bank of India (RBI) came out with guidelines to prevent misuse of price-sensitive information by participants in markets for financial instruments.
- One of the key prongs for the welfare of ex-servicemen — the Army Group Insurance Fund (AGIF) — has exposure to toxic IL&FS bonds amounting close to Rs 210 crore.
- Private sector Lakshmi Vilas Bank has fixed the issue price for its qualified institutional placement at Rs 72 per equity share, around 9% more than the floor price for the issue.
- Industrial and Commercial Bank of China (ICBC) has launched the country’s first India-dedicated publicly offered investment fund.
- Fino Payments Bank launched a suite of digital products that can be accessed online and through mobile phones with the focus to build the transaction platform.
- Securities and Exchange Board of India came out with a detailed framework for risk-based Know Your Customer (KYC) documentation of foreign portfolio investors (FPIs).
- IDBI Bank said Hemant Bhargava has ceased to be its Non Executive Chairman as he no longer heads the parent company LIC.
- Yes Bank has received the Reserve Bank of India’s (RBI) approval to open two representative offices in London and Singapore.
- Economic growth is usually link with Inflation.
- “Batuaa App” has been launched by State Bank of India in India.
- Free trade policy refers to a policy where there is Absent of tariff.
- Marie Tussauds is the founder of Madame Tussauds.
- The Reserve bank of India has classified IDBI Bank as a private lender after LIC took control of it. The move may lead to a rating downgrade and a rise in cost of funding as investors would factor in the absence of sovereign backing for the bank.
- Private sector lender Lakshmi Vilas Bank may end up raising Rs 200-250 crore through qualified institutional placement of shares, which is about 10 per cent of the bank’s Rs 2,000 crore capital raising plan announced in June last year.
- Public Sector Banks (PSBs) may raise capital themselves to meet regulatory and growth capital needs because there is unlikely to be any fresh bank recapitalisation till the next government takes over in June.
- Fresh NPAs in the banking sector are expected to moderate to 1.9 per cent to 2.4 per cent in FY20 due to an aggressive recovery drive and write-offs by banks. Public sector banks are expected to turn profitable after four consecutive years of losses.
- The Board of Etihad Airways is reportedly not prepared to meet Jet Airways bailout terms proposed by lenders led by SBI.
- Nirav Modi entered UK on a ‘golden visa’ issued to investors on a commitment to invest 2 Million pounds in UK.
- Sebi found diversion of Rs.2,315 crore from two Religare firms to Singh brothers and has directed the firms to recover the loans.
- In the year 1971 Credit Guarantee Corporation created.
- A draft issued by the bank has been lost by the payee. He sends a letter to the issuing bank to stop payment. Bank will Note caution and will advice the payee to contact purchaser of the draft.
- Mutual funds are required to be registered with SEBI.
- Disinvestment means To reduce the government share in the public sector.
- World Suicide Prevention Day (WSPD) is observed every year on 10-Sep.
- The currency of Eritrea is Nakfa.
- SEBI is the Regulator of Capital Market.
- HSBC is a foreign Bank.
- The author of the book "Cryptocurrency for beginners" is Amit Bhardwaj.
- Santosh Trophy is given in the field of Football.
- E-com players including ShopClues, UrbanClap, Snapdeal, Flyrobe and Shop101 have launched a new trade association TECI (The E-Commerce Council of India).
- M R Kumar has been appointed the Chairman of LIC for five years. He was was Zonal Manager of North Zone.
- Baring PE Partners Asia is set to acquire AGS Health for around Rs.2230 Crores. AGS Health is a medical revenue cycle management firm.
- Indian equities opened higher, with buying in select heavy weights including HDFC twins, Reliance Industries and Axis Bank.
- Karur Vysya Bank said it has raised Rs 487 crore through Basel III compliant bonds to fund its growth plans.
- “India could be a $3 trillion (digital) economy in the next four to five years. That is the goal we have set. Digital India is designed to empower ordinary Indians.
- SBI has launched a doorstep banking for senior citizens over 70 years, differently abled and infirm customers at a nominal fee of Rs.60-100.
- The term Ante- Dated Cheque means A cheque bearing the date earlier than it was drawn.
- Human development report is prepared by UNDP.
- Investment Information and Credit Rating Agency of India (IICRA) is a Public company.
- Banking ombudsman means A person to whom customer can approach for redress of his grievances.
- Consortium Advances refer to Joint Financing by more than one bank.
- Balance of trade is the difference between the monetary value of exports and imports of output in an economy over a period of time.
- Crossing of a cheque means a direction to the bank to not to pay the cheque across the counter.
- Currency of Luxembourg is Euro.
- ICRA estimates that SFBs have reported an annualised growth of 33% in the assets under management (AUM) in 9M FY 2019 to Rs. 64,325 crore.
- POSB account holders can also transact, open, close an RD account and fixed deposit (FD) accounts via the India Post internet banking facility.
- Puig has invested Rs.100 Crores in Kama Ayurveda for its domestic and international expansion.
- RBI shall infuse Rs.12,500 Crores in the system through open market operations.
- The government reported NPA level in Mudra loan portfolio to be 5.39 per cent in March 2018.
- The government's failure to create enough jobs in Asia's third-biggest economy is a key issue for voters in the polls.
- Scheduled commercial banks' reliance on bulk deposits is likely to increase if credit growth is higher than that of deposit.
- Markets watchdog Sebi has levied a penalty of Rs 25 lakh on Indus Portfolio for carrying out reversal of trades in the illiquid stock options segment on the BSE.
- PayU is in final stages of discussion with Wimbo for an estimated value of $50-60 million. Zefo specializes in processing online payments.
- Public sector banks are in no hurry to follow big brother SBI in linking their deposit and lending rates to the RBI's repo rate, which may further irk the Reserve Bank of India for not transmitting the lower interest rates to the customers.
- The National Company Law Appellate Tribunal (NCLAT) pulled up SBI, the lead lender of debt-ridden Reliance Communications, along with others for giving a 'false impression' to monetise Rs 37,000 crore from asset sales of the telecom company to Reliance Jio.
- PNB Fraud case – ED has filed a supplementary charge sheet against Nirav Modi under the anti-money laundering law. He allegedly transferred Rs.934 crores in his personal accounts. ED has also attached his assets worth around Rs.1,873.08 crores and seized assets linked to him and his family worth Rs.489.75 crores.
- Quikr has entered into a definitive agreement for acquisition with Zefo, a refurbished goods marketplaces, for Rs.200 Crores.
- Kotak will offer loans up to Rs 1 cr to micro, small & medium enterprises in India through this platform.
- The Reserve Bank permits a ceiling of 15 per cent for promoter stake in a private sector bank.
- UP regulator has asked Resurgent to cut tariffs for consumers for buying Prayagraj at a lower valuation.
- Rural growth to drive consumer discretionary spends for next few months.
- Repo Rate is a money market instrument, which enables collateralized short term borrowing through Govt Securities.
- In Karnataka state Kunchikal waterfall is located.
- National Handloom Day celebrated on 07-Aug.
- China is not a member of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).
- Rakesh Sharma, MD & CEO of IDBI has been proposed to be re-appointed for the next three years.
- As per Preqin, the alternative assets data tracker, India-based PE and VC fund managers were holding around $28 billion in assets under management as of June 2018.
- There is little in the public domain to throw light on what the RBI thought about demonetisation.
- Cheque and demand draft are valid for a period of 3 months.
- When banks accept a fixed sum of money from an individual for a definite term and pay on maturity with interest, the deposit is known as Term Deposit.
- The maximum age limit for registering as a subscriber under the Atal Pension Yojana, a pension scheme launched by the Government of India is 40 years.
- State Bank of India or SBI, the country's largest lender, offers several home loan products under its personal finance portfolio. Home loan is a product, where customers take loan to buy or renovate house against the same property as collateral.
- The foreign exchange market in India is regulated by Reserve Bank of India.
- Basel norms stressed that banks should maintain a CAR (Capital Adequacy Ratio ) above 10.
- Gilt-edged market means Market of government securities.
- When the employees of the bank went on strike then such situation is termed as Operational risk.
- Rajiv Bansal, former Infosys CFO, is joining DXC Technology as senior VP. Bansal had won an arbitration award against Infosys for severance fee.
- Reliance Capital has initiated discussions with global investors for selling a stake of 42.88 per cent in Reliance Nippon.
- In an Economy, If there is an increase in the prices of goods and services with an increase in the rate of unemployment, such a condition is called Stagflation.
- Kelkar Committee is related to Goods and Services Tax.
- The name of ISRO'S Commercial Arm is Antrix.
- With regards to UJALA Scheme, EESL stands for Energy Effeciency Services Limited.
- Non-bank ATM operators are authorized under Payment & Settlement Systems Act, 2007 by the Reserve Bank of India.
- BBPOU stands for Bharat Bill Payment Operating Units.
- The maximum limit on the value stored in a prepaid card Rs 50,000.
- Maximum number of remittances allowed under Indo Nepal Remittance Facility Scheme, in a year is 12.
- CRAs have off late come under criticism for failing to timely identify the stressed assets of IL&FS, which saw a series of defaults in loan repayments.
- State-owned Punjab National Bank (PNB) has sanctioned loans worth Rs 689 crore to over 1,600 Micro, Small and Medium Enterprises (MSMEs) through the psbloansin59minutes.Com portal as part of its effort to promote such industries.
- Commerce and Industry minister Suresh Prabhu said the government has set a target of attracting USD 100 billion in foreign direct investments over the next two years.
- Reserve Bank Governor Shaktikanta Das said credit rating agencies play a critical role in the stability and efficient functioning of the financial sector.
- The Expiry date of Priority Sector Lending Certificates (PSLC) Valid till [latex]31^{st}[/latex]March and will expire on [latex]1^{st}[/latex]April .
- Kempegowda International Airport is located at Bengaluru city.
- Somasila Dam is built at Pennar River.
- PM Mudra Bank Yojana was launched on [latex]8^{th}[/latex]April 2015.
- The threshold amount in 'Shishu' under PMMBY is 50,000.
- Economic Survey is presented every year, just before the Union Budget.
- Reserve Bank of India nationalized in [latex]1^{st}[/latex] January 1949.
- Open Market Operation is a part of Monetary Policy.
- The word Letter of Credit has been derived from French language.
- The Headquarter of Punjab National Bank is located in New Delhi.
- The minimum maturity period of a Commercial Paper is 14 days.
- Capital Market is the financial market for the buying and selling of long-term debt- or equity-backed securities.
- An increase in the total volume of goods and services produced by a nation that is growth in its GDP is termed as Economic growth.
- Working capital is also called Circulating capital.
- The Centre has transferred the first instalment of Rs 2,000 each to over 2 crore farmers so far under the ambitious Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme.
- The Anil Ambani-led Reliance Capital Ltd said it will reduce its debt by approximately Rs 10,000 to 12,000 crore in the next three-four months by monetising its stakes in group companies and non-core investments.
- Cabinet approves Airports Authority of India's (AAI) proposal to surrender claim on 106.76 acres of land encroached by Madhya Pradesh government.
- Power Finance Corp (PFC) will fund the acquisition of REC Ltd majorly through its internal accruals and expects to receive sanctions from about four state-run banks for up to Rs 6,000 crore in a week.
- The government has doubled the income tax exemption limit on gratuity to Rs.20 Lakh.
- CBDT has said that the relief for startups facing tax demands for selling shares at a premium to their fair market value will be effective from the 19 February 2019.
- The Enforcement Directorate has reportedly so far established that Chanda Kochhar and her family received Rs.500 crores as kickbacks.
- For SBI customers, there are no account opening and closure charges, according to the website of the lender- sbi.co.in.
- India bulls Housing Finance has emerged as the front runner to pick up a minority stake in Lakshmi Vilas Bank(LVB), The private sector lender has called fundraising board meeting on March 8.
- The government has promised to lower corporate tax rate to 25 per cent for all companies once Goods and Services Tax (GST) mop-up improves.
- he World Bank will provide a $250-million loan for the National Rural Economic Transformation Project (NRETP) to help women in rural households develop viable enterprises for farm and non-farm products.
- IIFL Finance, India’s non-banking finance company, is bringing exciting offers on Gold Loan schemes by launching its Gold Loan Mela from 1st March to 11th March 2019.
- SoftBank has completed its investment commitment of $350 million in Delivery.
- The World Bank will provide a loan of $250 million for National Rural Economic Transformation Project to help women in rural households.
- Former IL&FS heads Ravi Parthasarathy and Hari Sankaran, two subsidiaries and 18 others are being probed by ED for alleged siphoning off approx. Rs.10000 Crores from IL&FS books.
- Spotify has reportedly hit 1 million user base in India within just a few days of its launch.
- UB group has opposed the plea of a consortium of banks, led by SBI, to sell properties of Vijay Mallya as the claim for restoration can only be considered during the trial of the case.
- Yes Bank also informed about a fine of Rs 1 crore for non-compliance of directions on Swift.
- After initial dithering, banks are now falling in line to cut interest rates after the RBI asked them to do so last month. A low interest rate cycle is on the anvil with a majority of banks now settling to cut lending rates by 5-10 basis points.
- About 800,000 jobs moved from the informal economy to the formal sector between 1999 and 2011 because of export growth, representing 0.8 percent of the labour force, the World Bank study shows.
- While protecting small investors is at the heart of the law, it also targets the scourge of black money.
- MCA has found 25 violations of the Companies Act by Videocon Industries and NuPower Renewables. Chanda Kochhar was part of the panel that approved Videocon loans, which in turn funded NuPower.
- Jet Airways has assured its staff to resolve salary payment issues within the next 30 days. Around 43 aircraft of Jet Airways are reportedly grounded for various reasons.
- M. Visvesvarayya made first attempt to initiate economic planning in India.
- If somebody wants to establish a small-scale business unit or industry, loan on easy terms can be availed through SIDBI.
- World Bank has established the Poverty Reduction and Growth Facility to help the developing countries.
- Morris David Morris developed the Physical Quality of Life Index (PQLI), a measure of Development.
- Ram Nath Kovind has been appointed new Governor of Bihar.
- Sarva Shiksha Abhiyan (SSA) was implemented to address the needs of children in age group of 6-14 years.
- RBI has introduced the concept of Payment Banks and Small Banks.
- The Headquarters of WHO is located in Geneva (Switzerland).
- The permission to use offline Aadhaar could emerge as a ray of hope for the fintech companies, bogged down by paper-based documentation process.
- Some of the loans disbursed under the Pradhan Mantri Mudra Yojana could be turning toxic, rating agencies and bankers said, causing concern to lenders with exposure to this borrowing segment that falls in a category qualifying for priority access to funds.
- The IDBI Bank has received government nod to handle import and export transactions with Iran, a move which would help in promoting two-way trade amid US sanctions on the Persian Gulf nation.
- The expansion of BIFR, in the context of the Indian Industry is Board for Industrial and Financial Reconstruction.
- Weak global sentiment extended to the Indian equity market as benchmarks Sensex and Nifty opened in the negative territory in the absence of any major domestic trigger.
- The Capital Market Segment of NSE commenced operations in November 1994.
- A stockbroker means a member of a recognized stock exchange.
- Bandipur National Park is located in Karnataka State.
- An application for arbitration can be filed within 6 months from the date of dispute.
- As per Banking Companies Ordinance, 1962, the total suspension time of the operation of all or any provision of Companies Ordinance, 1962 should not exceed one year.
- Mana Patel is associated with Swimming.
- Under Pradhan Mantri Jan Dhan Yojna 30,000 rupees life insurance is provided.
- According to the government data Delhi, parts of Uttar Pradesh and Haryana account for about one-fourth of foreign direct investment (FDI) received by the country during April-December 2018-19.
- India's stocks, bonds, commodities and forex markets will remain closed on account of Mahashivratri. Commodities markets will see trading in the evening session.
- Historically, farm loan waivers have been used as a quick-fix solution to agrarian distress in India. Commonly used by political parties before elections, they have a long history at both central & state levels.
- The Reserve Bank of India has levied an aggregate penalty of Rs 40 million on the bank for delayed implementation of four of the Swift related operational controls.
- Groups of people such as workers who pool their money together for savings and to make loans is called Credit Union.
- The purpose of the National Green Tribunal is it hears cases related to environmental degradation.
- Credit Risk is the most prominent assumed risk for banks.
- The minimum amount of transaction in RTGS is Rs. 2 lakh.
- Open Market Operations (OMO) is an indirect instrument that is used in the formulation and implementation of monetary policy by RBI.
- Fiat Money is the inconvertible paper money made legal tender by a government decree.
- Fifty thousand rupees is the maximum limit per transaction on the amount of funds that could be transferred using NEFT for cash-based remittances and remittances to Nepal.
- Priority Sector does not includes the Life Insurance Policy.
- Your Perfect banking Partner is the punch line of Federal Bank.
- Head office of Bank of Maharashtra is located at Pune.
- Mutual funds are required to be registered with SEBI.
- IFSC (Indian Financial System Code) consists of 11 digits. The first four characters represent the Bank Branch Code.
- Zero initial minimum deposit required while opening a BSBDA.
- When an existing non-profit organization is converted into a for-profit company, the process is called Demutualization.
- In 1999 the Swarnajayanti Gram Swarojgar Yojna launched in India.
- A Micro Enterprise is an enterprise, where investment in plant and machinery does not exceed Rs. 25 lakh.
- The International Finance Corporation (IFC) is a private sector funding arm associated with World Bank.
- SEBI has its headquarters in Mumbai.
- 5.75% is the Reverse Repo Rate at present.
- Sarva Shiksha Abhiyan (SSA) was implemented to address the needs of children in age group of 6-14 years.
- Punjabi language became the third most common language in Canada's new Parliament.
- Under the PMJDY Saving Deposit Account is modified with additional features with an aim to achieve financial inclusion.
- Banking Companies are prohibited under Sec 8 of banking Regulation Act to sell and purchase securities. Yet Banks are selling securities (of the customer) which are under pledge as permitted by Banking Regulation Act.
- Cryptocurrency is a Digital Medium of Exchange.
- Computer Emergency Response Team India comes under Ministry of Communications and Information Technology.
- The Countries India, Israel, Iran participated in the 44th World Economic Forum.
- Bimal Jalan Panel is scrutinizing applications for new bank licences.
- Market Discipline is not the most common objective of Banking regulations.
- The Supreme Court has allowed Delhi Police to arrest Amrapali group CMD Anil Sharma and two directors Shiv Priya and Ajay Kumar. It has also directed attachment of their personal properties.
- Grofers has raised $60 million from SoftBank in a fresh round of funding.
- As per Hurun Global Rich List 2019, Mukesh Ambani is now the 8th richest person in the world with a net worth of $54 billion.
- Union Cabinet has approved promulgation of an ordinance to amend SEZ Act whereby Trusts can now approach the govt to set up units in SEZ areas.
- Union Cabinet has approved a national policy on software products aiming to position India as a hub for s/w development and creating around 65 Lakh jobs by 2025.
- Niti Aayog has given the in-principle approval to the scheme and now the proposal has gone to the Expenditure Finance Committee for clearance.
- Finance Minister Arun Jaitley said the situation of bad loans in public sector banks (PSBs) has improved in the last three quarters, and that the government will amalgamate banks to create healthy large lenders that are globally competitive.
- India’s economy slowed more than expected in the third quarter, dragged down by a slump in agriculture and liquidity constraints.
- Muthoot Microfin, the micro finance arm of Muthoot Pappachan Group (MPG), may list in the local stock market as soon as mid-March.