The Fugitive Offenders Bill 2018

The Fugitive Offenders Bill 2018 was introduced on March 12, 2018. It was passed by Lok Sabha on July 19, 2018 & then by Rajya Sabha on July 25, 2018. It will come into effect from the date President accords his assent.   Rationale behind the Fugitive Offender’s Bill – After the recent financial frauds…

Project Sashakt: 5 prong strategy on stressed asset resolution

Finance Minister Piyush Goyal unveiled ‘Project Sashakt’, a five-prong strategy to deal with non-performing assets. Sashakt aims to strengthen the credit capacity, credit culture and credit portfolio of public sector banks. What is Project Sashakt? Project Sashakt was proposed by a panel led by PNB chairman Sunil Mehta.  The Five-Prong Approach is as under:- 1. Outlining SME Resolution approach for…

FREQUENTLY ASKED QUESTIONS – Priority Sector Lending – Targets and Classification

Priority Sector Lending – Targets and Classification – (FAQ’s As on April 18, 2018)   1. What are the different categories under priority sector? Priority Sector includes the following categories: (i) Agriculture (ii) Micro, Small and Medium Enterprises(iii) Export Credit(iv) Education(v) Housing(vi) Social Infrastructure(vii) Renewable Energy(viii) Others 2. What are the Targets and Sub-targets for banks under…

RBI’s new cash management norms hike banks’ costs

With the Reserve Bank of India’s (RBI’s) new standards as of 6th April 2018 , for cash logistics companies kicking in from July 6, some lenders are raising the issue of higher costs and are making a case for higher inter-bank payments for use of automated teller machines (ATMs). On April 6, 2018, the RBI…

Buyer’s name to be compulsorily printed on Demand Drafts: RBI moves to plug money laundering avenue

The Reserve Bank of India (RBI) has made it mandatory to mention the name of the person on the front of the demand draft while purchasing it at a bank branch. At present, the DD form only asks for the name of the entity or person in whose favour it is to be prepared. In…

INTRODUCTION OF CERTIFICATE EXAMINATIONS ON EVERY 1st AND 3rd SATURDAY FROM AUGUST 2018 AT 100 CENTRES

IIBF has introduced Conduction of Certificate Examinations such as Certificate Course on MSME, Certificate Examination in Customer Service & Banking Codes and Standards, Certificate Examination in Anti-Money Laundering & Know your Customer, Certificate Examination in Prevention of Cyber Crimes and Fraud Management on every 1st and 3rd Saturday from August 2018. Institute will the conducting the following online examinations…

RBI Dy. Governor Portfolios

DG Portfolios Effective 22nd June 2018, the distribution of portfolios amongst the Deputy Governors will be the following: Name Departments Shri N.S.Vishwanathan 1. Co-ordination 2. Department of Banking Regulation (DBR) 3. Department of Communication (DoC) 4. Department of Co-operative Banking Regulation (DCBR) 5. Department of Non- Banking Regulation (DNBR) 6. Enforcement Department 7. Inspection Department…

Banking Regulation Act, 1949 – Section 26A Depositor Education and Awareness Fund Scheme, 2014 – Operational Guidelines – Payment of Interest

RBI vide its notification dated 7th June 2018 inform all the Scheduled Commercial Banks (including RRBs), Local Area Banks (LABs), Urban Co-operative Banks / State Co-operative Banks /District Central Co-operative Banks and Small Finance Banks/Payment Banks that wef 1st July 2018 the rate of interest has since been reviewed and it was  decided that the rate of interest payable…

Draft guidelines on Loan System for Delivery of Bank Credit

Banks provide working capital finance by way of cash credit/overdraft, working capital demand loan, purchase/discount of bills, bank guarantee, letter of credit, factoring, etc. Cash credit (CC) is by far the most popular mode of working capital financing. While CC has its benefits, it also poses several regulatory challenges such as perpetual roll overs, transmission…

Banking Promotion Test Study Material – 2018

Dear Friends, We have revised the study Materials for Bank Promotion Tests from Scale I, II, III, IV & V as of 6th June 2018, which covers Current Events Related to Banking, Interview Questions . It will be our endeavor to update the Study Material on a regular basis.The hard copy of the same is available…