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…

Bi-Monthly Monetary Policy Review on June 6th 2018 – Highlights & Key Takeaways

In its Second Bi-Monthly review on 6th June 2018, The Reserve Bank of India’s (RBI’s) monetary policy committee (MPC) voted unanimously to hike the repo rate by 25 basis points. Reserve Bank of India, however, maintained its policy stance at neutral—leaving the door open for more rate hikes, and saw oil prices and higher minimum…