Dear Friends, This booklet entitled " Latest Banking Updates - Bank Promotions(as of 31.08.2018) has been prepared with an intention to provide 'Latest Developments in Banking and Financial Sector' for the enrichment of Bank’s Staff, the Banking knowledge and Banking Developments taking place in present day scenario, when the entire Banking Industry is facing heavy Turbulence in the form of huge NPA and mounting losses. Most of the Banks registered loss in the March 2018 with Punjab National Bank leading the list of Loss Making Banks, and only two PSB viz. Indian Bank and Vijay Bank have registered profit.
Banks are the Back-bone of any Economy.
Banks are at the core of any economic system whether developed or developing.
-Essentially, a technologically advanced, transparent and efficient banking system is the need of the hour for the growing economy like India.
-In order to achieve the goal of faster and inclusive growth, it is high time the government and banking industry undertake a comprehensive relook into the existing policies and structures.
Status of Banking Sector at a glance
- The Indian banking system consists of 21 public sector banks including State Bank of India & IDBI, 40 private sector banks including LAB, Small Finance Bank & Payment Banks and the recent India Post Payment Bank launched on 1st September 2018, 45 Foreign Banks, 56 regional rural banks, 31 State Cooperative Banks,1548 urban cooperative banks and 93913 rural cooperative banks.
- Rising Rural Penetration:
- As of June 2017, 56 regional rural banks are functioning in the country.
- RBI has allowed, regional rural banks with net worth of at least US$ 15.28 million to launch internet banking facilities.
- As of February 2017, Airtel payments bank opens over 1 lac accounts in UP, of which 60 per cent have been opened in rural areas.
- Indian Banks have successfully adopted the Basel II norms of international banking supervision and as per the Reserve Bank of India (RBI) majority of the banks have already met Basel III capital norms prior to its deadline of 31 March 2019.
It is hoped that India would be amongst First 5th/6th World Economy in next few Years.
Indian Banking has undergone several changes during the last 20 years or so from traditional banking to Universal Banking and Technology Banking.
Crisis in Management
Retirement of Public-sector banks employees was in large number during these days. So, younger employees are replacing the elder, more-experienced employees.
As a result there was a virtual vacuum at the middle and senior level. The absence of middle management could lead to adverse impact on banks' decision making process. This younger generation has to learn a lot and equip themselves with the required skills for improving overall efficiency with decreased operation costs.
It is therefore important for the front office staff and fresher’s as well as younger generation to equip themselves with skills by acquiring Banking Knowledge and be ready to learn day-to-day Banking practically.
Our attempt is to provide 'Latest Developments in Banking and Financial Sector' along with the Global Trade War Impact on Indian Economy and the Rupee Depreciation etc.
The following Topics are covered in the Booklet:
|1||Making Written Test a successful Event||3|
|2||Rupee hits all time Low – Reasons for Sharp Decline & What Next||4-9/10|
|3||Policy Rates & Upto Date Information||10|
|4||Present Banking Scenario & Challenges||11-18|
|5||News in Focus||19-20|
|6||Latest Banking Policies & Banking Developments as of 31.08.2018 – IIBF News||21-26|
|7||Latest Amendments to Negotiable Instruments Act||27-31|
|8||Kisan Credit Card – New Update||32-39|
|9||Priority Sector Lending – Updates||40-45|
|10||Interest Subvention Scheme for Agriculture Loan & Other Agril Loans||46-47|
|11||DRI Scheme & Educational Loans||48-49|
|12||Fugitive Offender’s Bill||50-52|
|15||Investment limit for Foreign Portfolio Investment in Debt||59|
|16||Evolution of Money||59-61|
|19||Guidelines for Senior Citizens & Differently Able Persons||66|
|20||Banking Terms for Bank Interview & Exams||67-81|
Viewers are requested to please click on the following link to view the Booklet in PDF format:Latest Banking Updates - As of 31.08.2018
Wishing You all the Best