Notes--- History / Structure of RBI
1. Hilton Young Commission recommended the formation of RBI in 1926. Acc to act RBI Act 1934 it was formed on 1 April 1935 headquartered in Kolkata then shifted to Mumbai in 1937.
2. Last coin withdrawn from circulation was of 25 paise. GOI is responsible for minting the coins under Coinage Act 1906.
3. Banking Ombudsman Scheme is introduced in 1995 under Section 35A of the Banking Regulation act 1949.
◆At present Banking Ombudsman scheme 2006 (which was formed in 2006, reintroduced in 2016) (as ammended on 1 July 2017 to bring all concepts of ATM's, Cooperative banks etc) is working at present.
◆There is no amount / no charge for filing and resolving and resolving customer complaints.
◆There are 22 Banking ombudsman centres operationg in Infia at present. (New one is at Delhi.)
4. Priority sector lending sectors--
◆Agriculture,
◆education (loan limit- inside India (till 10 lakhs) , outside India (20 lakhs)
◆social infrastructure,
◆non renewable energy,
◆MSME,
◆housing (max limit for non-metropolitan city- 25 lakhs with population upto 10 lakhs with dwelling unit of Rs. 30 lakh and for metropolitan city- 35 lakhs with above 10 lakh population and dwelling unit should be 45 lakhs)
◆export category,
◆others (BPL- Below Poverty Line)
5. RBI will change its financial accounting with that of the central govt with effect from the 2020-21.
◆Fiscal 2019-20 will end on 30 June 2020.
◆Fiscal year 2020-21 will begin on 1 July 2020 but ends on 30 March 2021
◆Accounting year was changed to July-June in March 1940.
6. Present
◆ SLR- 18% (Statuary Liquidity Ratio) (Defined under Section 24 and 56 of the Banking Regulation Act, 1949) (Papa ques😂)
◆ CRR- 3% (only for 1 year) (RBI pays 0% CRR to banks)(Cash Reserve Ratio)
◆ MSF- 4.25% (Marginal Standing Facilty) (Overnight loan borrowed by banks from RBI of 1 crore and 2% of NDTL)(Till 30th June 2% is increased to 3%).
◆ LAF (Liquidity Adjustment Facilty) was introduced in the Statement on Monetary and Credit Policy of 2000-1. It is defined under Section 17(8)of the RBI Act 1934. It was implemented on the recommendations of Narasimham Committee.
◆Sponsor Bank contribute 35%
◆ RRB (not required from December 2018)/ SFB/ Foreign Banks / Domestic Private Banks are not required to maintain SLR/CRR. (By RBI) (For all the banks NDTL and ANBC are different)
◆ ANBC- Adjusted Net Bank Credit. (Total lending capacity of the bank)
◆ NDTL- Net Demand and Time Liability. (Total amount holded by the bank)
7. Reason for inflation--
◆Increase in administered prices
◆Increase in cost of capital
◆More dependence on the indirect taxes for revenue.
8. OD limit to PM Jan Dhan Yojana will quality as achievement of the target for lending to Micro Enterprises.
9. NPCI (National Payment Corporation of India) Paid up capital-- Rs 100 crore.
◆Authorised Capital of NPCI-- Rs 300 crore
◆There are 10 promoter banks in NPCI. 【SBI, PNB, Canara, BOB, Union Bank of India, BOI, ICICI, HDFC, CityBank, HSBC】. IN 2016 the shareholding was broad based to 56 member banks to include more banks including all sectors.
◆CEO- Dilip Asbe
◆Chairman- Bishwa Mohan Mohapatra
10. There are 48 settlements in NEFT at present. 30 mins/ settlements.
11. Suraksha Bima Yojana-- Accident insurance
◆ Available to people of age group 18-70 years.
◆Premium- Rs 12 / annum
◆Risk Cover- For accidental death and full disability- Rs 2 lakhs and for partial disability Rs 1 lakh.
◆Period for Risk cover- June 1 to 31 May
12. PM jeevan jyoti bima yojana-- Life insurance
◆Available for people of age group 18-50 years.
◆ Premium- Rs 330/ annum
◆Risk cover- Rs 2 lakh are insured in case of death due to any reason.
◆Period of Risk cover- June 1 to 31 May
@nandabankingexam
0 Comments