1. Swing loan or gap financing - Bridge loan. It is a short term loan used to biy assets or covers obligations under longer term financing is found. Max tenure- 2years.
2. .Payday loan - is a short term borrowing where the lender will extend high rate of interest credit based on a borrower's income and credit profile. Its principal is typically a portion of a borrower's next paycheck.
3. Teaser loans - are rate of interest in which initially rates are less and go up subsequently as time passes by.
4. Commercial banks are nationalized in 2 Phases under .Banking Companies acquisition and transfer of undertaking act in 1969.
5. Established--
◆ RBI- 1st January 1949 (Nationalised under RBI ACT 1948)
◆ SBI- 1st July 1955 (was estd under 1st 5 year plan)
●【History- Bank of Bengal (1806), Bombay (1840) and Madras (1843) were known Presidency banks, formed under Presidency act. these were merged on 27 Jan 1921 and were known Imperial Bank of India. Acc to SBI Act 1955 on 1st July 1955.
●5 associate SBI banks got merged with SBI on 1st April 2017 + 1 was Bhartiya Mahila Bank.】
● At present SBI has more branches abroad.
◆ 1st bank of India- Bank of Hindustan (closed)
◆ Oldest PSB working at present- SBI.
◆ 1st nationalization- 1969
(Capital- Rs. 50 crore, 14 banks, By Indira Gandhi)
◆ 2nd nationalization- 1980
(Capital- Rs. 200 crore, 6 banks, By Indira Gandhi) (New bank of India was in loss thats why it was merged with PNB in September 1993.) 【We had 19 banks now.】
●After this BOB got merged with Dena and Vijaya bank 【We had 17 banks】
●Finance Minister Nirmala Sitharaman announces the merger of 10 PSB into 4 banks --- √ PNB + OBC + United Bank of India
√ Canara + Syndicate
√ United + Andhra + Corporation
√ Indian + Allahabad
【Now we have 12 PSB and 11 Nationalized bank. Bcz SBI is nationalised under SBI Act 1955】
◆ IDBI- 2004
6. Kisan Vikas Patra maturity - 124 months. (Imp) (Previous 113 months)
7. Sukanya Samridhi has the highest rate of interest in the 1st quarter (April-June)of FY 2020-21.
8. In Basic Savings Bank Deposit account total withdrawals and transfers (Debits) in a month does not exceed Rs. 10000. Where in a financial year total deposit cant exceed Rs. 1 lakh. While at a time total deposits cant exceed Rs 50000.
9. BSBDA Account - (Papa ques😂) check screenshot.
10. Sukanya Samridhi Account can be opened upto the age of 10 years from the date of birth of girl child. (Papa ki age 10 yrs thodi hogi😂)
11. Premature encasement is possible in the National Savings Certificate after the completion of 5 years. It is not possible to encash it before this maturity period. NSC is qualified for 80C - Income Tax Act.
12. Bank Run - occurs when (bank is running out of funds) a large number if customers of a bank or other financial institution withdrawal their deposits simultaneously over concerns of the bank's solvency. (Example- LVB, PMC, Yes bank)
13. OD Facility of PM Jan Dhan Yojana account holders has been raised to Rs. 10000 with the age limit of 18-65 years.
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