GENERAL BANKING Archive
Bad Bank or Asset Management Company for Public Sector Banks
Setting up of a Bad Bank or Asset Management Company for Public Sector Banks (PSBs) has been in the consideration of the central government since 2017. The idea has gained momentum again in the wake of mounting
18 Public sector banks report losses of Rs. 56,970 Crore in Q4, 2018.
Balance sheets of public sector banks are bleeding in Q4, 2018. According to publically available data 18 listed public sector banks have reported losses to the tune of Rs. 56,970 Cr during Q4 of FY 2017-18 as
Small account becomes the only bank account that can be opened without Aadhaar
Small account is the only bank account that can be opened without producing Aadhaar and PAN Card / Form 60. Even though, Aadhaar and Permanent Account Number (PAN) / Form 60 have been made mandatory for all
Common banking terms associated with Aadhaar
Bank account holders have come across much news about linking Aadhaar with bank accounts in the recent past. All bank account holders were earlier directed to link their accounts with Aadhaar by RBI and central government. Many
Aadhaar is mandatory for all new accounts; small accounts exempted
Aadhaar is now essential for opening of new accounts. RBI has made Aadhar and Permanent Account Number (PAN) / Form 60 mandatory for all new accounts to be opened. However, for opening small accounts these documents are
RBI revises all in cost for ECB to 450 basis points
Reserve bank of India has revised the all in cost for External Commercial Borrowing (ECB) to 450 basis point above the bench mark rate. The rationalization and liberalization amendments announced by RBI on April 27, 2018 vide
Facilities under Liberalised Remittance Scheme (LRS) for Resident Individuals
In India, remittances to overseas were always subjected to controls and regulations. These restrictions were in place to ensure that uncontrolled overseas remittances do no drain the forex reserves of the country. However, there have always been
India ranks sixth in terms of total wealth
India ranks sixth among the wealthiest countries, says the New World Wealth report. The report states that the total wealth of India is $ 8,230 billion. This is based on the total wealth calculated as at the
Indian Budge 2018-19- Proper Mix of Populism and Prudence
The Finance Minister Mr. Arun Jaitley, presented the budget for the FY 2018-19 on February 1, 2018. In the pre-election budget, Finance minister has taken earnest efforts to have a proper mix of populism and financial prudence.
Economic Survey and Indian Economy-2018
The Economic Survey for 2017-18 expects the GDP growth to be 7-7.5% in 2018-19 compared to the 6.75% estimated for 2017-18. It projects India to retain the tag ‘the fastest growing major world economy’. At the same