hw s devraj ray kindle edition????
What kind of questions(5marks) are asked in economics optional paper.
Which of the following cannot be called as Debt Instrument as referred in financial transactions?
- Stocks
- Loans
- Commercial papers
- Certificate of deposits
- Bonds
0 voters
I was going through some comments on this forum where there was a long discussion about how some courses are not useful etc etc
I don' t want to get into that debate. I just want to share my experience with one of the courses.
I stumbled upon "preper" course though a wordpress blog. When I checked the contents of the course, I realised the course is properly structured.
The content has chapter wise notes, MCQs and even videos for some chapters.
Instead of following multiple courses, I decided to focus only on this course as the material is to the point and easy to understand.
MCQs (Quiz) at the end of each chapter plays very important role to clear the concepts and strengthen the understanding.
The course also has discussion forum where we can discuss and ask doubts. More importantly, faculty does provide a response to each and every query.
The user interface of the course is simple and glitch free. I specially liked the quiz section where you get not just the marks but also your rankings.
This course is perfect especially for those who want to start from scratch as the chapter wise notes are very easy to understand.
This is not like other commercial packages where once u pay the fees u don't get any response from the faculty. Here, the faculty is equally involved with students solving their doubts and providing updates as and when required.
I am not here to do blatant marketing of any body. I am just sharing my experience with the course.
I am just one of the RBI aspirants and I really liked the way this course is delivered.
Hence, I am sharing my experience.
Those who are not sure about the course, can go through the sample material to get better idea.
#RBI
#Finance-1
Identify agency(ies) responsible for oversight on Money laundering in India :
1.SEBI
2.ED
3.FIU
Pick correct option
a. 2 only
b.2,3
c.1,2
d.1,2,3
#RBI #Finance-2 Consider following regarding ADR/GDRs :
1.They are foreign currency denominated instruments with option of repatriation.
2.They are non negotiable securities issued in foreign jurisdiction.
3.On the basis of Tarapore committee,ADR/GDR regime in India was liberalised.
Pick incorrect statement
a.2 only
b.1,2
c.2,3
d.1,2,3
#RBI #Finance-3 #MPC
Consider following regarding MPC(Monetary Policy committee) :
1.It will consist of 6 members and 1 chairperson(RBI Governor).
2.3 members will be from RBI and rest 3 to be selected by search and selection committee headed by Finance Secretary.
3.Members will not be eligible for reappointment.
4.MPC to meet at least 6 times in a year. Pick incorrect statement a.1,4
b.1,2
c.1,2,4
d.2,3,4
rakshit bught 19 erasers for 10 rs . he paid 20 paise more for each white eraser than for each brown eraser. what could be the price of a white eraser and how many white eraser could he have bought?? method plz
two oranges theree bananas and four apples cost 15. theree oranges two bananas and one apple cost 10. i bought 3 oranges 3 bananas and 3 apples. how much did i pay.
A B and C working together completed a job in 10 days. however C only worked for the first three days when 37/100 of the job was done. also the work done by A in 5 days is equal to the work done by B in 4 days. how many days would be required by the fastest worker to complete the entire work? method plzz
it takes six days for three women and two men working together to complete a work. three men would do the same work five days sooner than nine women. how many times does the output of a man exceed that of a woman.
What are Payment Banks? Why India Needs Payment Banks?
In last few days, newspapers and internet news websites have been carrying many stories about payment banks. In my 30 years of service in bank, I never heard of this term as it is a new concept introduced for first time in India. However, now almost everybody is talking about these new type of banks!. Thus, question arises what are these Payment Banks? Why suddenly they have come into news so much.
BackGround to "Payment Banks" in India :
The term "Payment Banks" is new and seems to have been invented in Indian context. In September 2013, a "Committee on Comprehensive Financial Services for Small Businesses and Low Income Households", headed by Nachiket Mor, was formed by the RBI. By January 2014, the Nachiket Mor committee submitted its final report and one of its recommendations was the formation of a new category of bank called payments banks.
The above was followed by announcement in Union Budget 2014-2015 (presented on July 10, 2014) wherein it was decided that "After making suitable changes to current framework, a structure will be put in place for continuous authorization of universal banks in the private sector in the current financial year. RBI will create a framework for licensing small banks and other differentiated banks. Differentiated banks serving niche interests, local area banks, payment banks etc. are contemplated to meet credit and remittance needs of small businesses, unorganized sector, low income households, farmers and migrant work force".
Taking cues from the Budget, RBI issued the draft guidelines in July 2014 itself on payments banks and small banks as differentiated or restricted banks. Based on the feedback RBI came out with final guidelines for Payment Banks in November 2014, and called the applications from entities which are interested to start such banks.
What are Payment Banks or Define a Payment Bank : We can define a Payment Bank in India as a type of bank which is a non-full service niche bank. A bank licensed as a Payments Bank can only receive deposits and provide remittances. It cannot carry out lending activities. Thus, Payment Banks can issue ATM/debit cards, but can not issue credit cards as they are not empowered to carry out lending activities.
What is the Objective of Creating Payment Banks in India : We can sum up the objectives in one sentence that these banks have been created to help India reach its financial inclusion targets. This type of bank can be highly useful for migrant labourers, low income households, small businesses, and other unorganised sector entities. RBI in its guidelines says "the objectives of setting up of payments banks will be to further financial inclusion by providing (i) small savings accounts and (ii) payments/remittance services to migrant labour workforce, low income households, small businesses, other unorganised sector entities and other users.
Some Regulations for Payment Banks : ·
The minimum paid-up equity capital for payments banks shall be Rs. 100 crore.. For the first five years, the stake of the promoter should be 40% minimum. Foreign share holding will be allowed in these banks as per the rules for FDI in private banks in India.
· The bank should be fully networked from the beginning. The bank can accept utility bills. It cannot form subsidiaries to undertake non-banking activities.
· Initially, the deposits will be capped at Rs.1,00,000 per customer, but it may be raised by the RBI based on the performance of the bank. The bank cannot undertake lending activities.
· 25% of its branches must be in the unbanked rural area. The bank must use the term "payments bank" in its to differentiate it from other types of bank. The banks will be licensed as payments banks under Section 22 of the Banking Regulation Act, 1949 and will be registered as public limited company under the Companies Act, 2013.
· The banks must maintain CRR, minimum 75% of demand deposits in government bonds of up to one year and maximum 25% in current and fixed deposits with other scheduled commercial banks for operational purposes and liquidity management.
What will be the Scope of activities to be allowed to Payment Banks :
a. Acceptance of demand deposits. Payments bank will initially be restricted to holding a maximum balance of Rs.100,000 per individual customer.
b. Issuance of ATM/debit cards. However, payment banks cannot issue credit cards.
c. Payments and remittance services through various channels.
d. BC of another bank, subject to the Reserve Bank guidelines on BCs.
e. Distribution of non-risk sharing simple financial products like mutual fund units and insurance products, etc.
Where Payments Banks will be able to Deploy their funds :
a. The payments bank cannot undertake lending activities.
b. Apart from amounts maintained as Cash Reserve Ratio (CRR) with the Reserve Bank on its outside demand and time liabilities, it will be required to invest minimum 75 per cent of its "demand deposit balances" in Statutory Liquidity Ratio(SLR) eligible Government securities/treasury bills with maturity up to one year and hold maximum 25 per cent in current and time/fixed deposits with other scheduled commercial banks for operational purposes and liquidity management.
RBI's In Principle Licences to 11 Entities In response to RBI's call for applications for new Payment Bank licences, 41 applicants were in the race On 19 August 2015, RBI gave "in-principle" licences to following eleven entities to launch payments banks:-
1 Aditya Birla Nuvo
2 Airtel M Commerce Services
3 cholamandam Distribution Services
4 Department of Posts
5 FINO PayTech
6 National Securities Depository
7 Reliance Industries
8 Dilip Shanghvi, (founder of Sun Pharmaceuticals)
9 Vijay Shekhar Sharma, (CEO of Paytm)
10 Tech Mahindra
11Vodafone M-Pesa
The "in-principle" licence is valid for 18 months within which the entities must fulfill the requirements. They are not allowed to engage in banking activities within the period. The RBI will consider grant full licences under Section 22 of the Banking Regulation Act, 1949, after it is satisfied that the conditions have been fulfilled.
How Payment Banks Are Likely To Impact Indian Population :
Indian Finance Minister, Mr Arun Jaitley said payment banks "will change the way people think, change the way they keep the money, where they keep their money, the way they pay,"
We know that still there are large population in India do not have banking facilities due to India's geographical spread, regional disparities, reach and connectivity. It is expected that these payment banks can use the mobile platform to provide basic banking transactions, in particular, payment for services and subsidies through mobile phones. Thus, there is still lot of opportunity available in India for this type of banking provided they get their technology solutions right. These banks are likely to help expand banking services to the remotest corner of the country. New Payment banks needs to introduce new products or new applications, so that instead of cash, people start carrying out more transactions electronically. Globally, that has been the trend. However, in India, although the number of users of credit and debit cards have increased yet these have been limited penetration on account of costs involved for merchants or establishments which accept these cards. Mobile phone platforms still has lot of opportunity to penetrate rural India with alternate methods for transactions.
Whether New Payment Banks Can Prove to be Disrupters for Existing Banks :
It is very difficult to predict how these new payment banks will impact the existing banks. Some believe that these banks will prove as disrupters to the existing PS and private banks. However, RBI Governor is of the view that these banks would complement rather than compete; as he pointed out, universal banks can do everything that a payments bank can, but the reverse is not true. Thus, the existing PS and private banks will have to introduce some changes in their technology platforms so as to provide similar facilities to their customers. Undoubtedly the new payment banks are likely to increase competition for PS Banks and private sector banks. However, as these new banks will be catering to the needs of people who have limited funds at their disposal, PS banks, with much more resources available, can focus on high networth clients. One of the interesting part is that RBI has given licences for 11 payment banks, which includes names like Airtel, Vodafone and Idea, which are mobile service providers and thus already have a customer base of over 580 million potential customers. They have also already in place the mobile technology which can really change the scenario. Thus, biggest threat to PS Banks will be coming from these mobile service providers, as they already have grounds prepared for them.
How These Payment Banks Will Survive, when they can not lend? :
This is also an interesting question. The questions are being raised as to how these new banks will be able to survive in absence of income from lending. However, we are forgetting that most of the new players are already well established in their fields. These payments banks are expected to play on volumes as they are likely to romp in to their fold millions of customers who are currently not within the fold of the formal financial system. This would lead to large volumes of transactions fetching the payments banks fees - a charge of even 1 or 2 per cent on a large volume can be lucrative on normal cash transfers, which will include government's direct benefits transfer programmes. Moreover, new payments banks can also earn 7.0% or so on their investments in government securities. The mobile companies will have limited additional costs and thus they may even offer payment of more than 4% interest, which is the norm among banks as they pay mere 4% on savings banks. With no need for any provisions or losses on NPAs for these payment banks, they may become fitter banks than existing banks. .
Is there anyone who had given statistics optional last year??
after 7th pay commission , what would be the in hand salary of rbi grade b officers ??
The ESI syllabus mentions "International Economic Institutions – IMF and World Bank – WTO". My question is, what exactly to study for this topic? Of course reading everything on the WTO or IMF site is not the solution..
shall we read entire Indian Economy by ramesh singh or partially ?? i'm quite skeptical seeing the time constraints we have ?? any suggestion
I have done few chapters from Ramesh Singh.I want to start with the Finance and Management now.Got myself Prasanna Chandra.Can anyone guide me what all the things I need to study from this book?
Arun Deepak and Rahul can
independently do a work in 15 days, 20 days and 30 days respectively.
They work together for some time, after which C leaves. A total of
Rs.18, 000 is paid for the work and B gets Rs.6000 more than C. For how
many days did A work?method plzzz
Someone please share gk questions asked in rbi pre exam 2014, 15.
RBI closes accounts on July 1st of every year.During closing,Human Resources planning for coming financial year through direct recruitment and Internal promotions assessed through audit figures.So we can anticipate notification for grade-b within one month from now.