REFERENCE Archive
Revised MSME Classification norms & Stimulus package
To boost MSME sector, the government has decided to amend MSMED act 2006 to revise the MSME classification norms. Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 presently classifies manufacturing and service enterprises into three categories
Types of Point Of Sale (POS)Terminals
Point Of Sales terminals (POS Terminals) have played a key role in promoting payment card based transactions in India thereby catalysing migration to digital channel payments and digital banking. Today, all banks in India promote transaction through
POS Terminal (Point Of Sale Terminal)
POS Terminal (Point Of Sale terminal) was conceived as an automated version of cash register. POS terminals have undergone a tremendous transformation thereby becoming an integral part of digital payment channels and digital banking. Today, POS terminals
Cash withdrawal facility at POS terminals
Cash withdrawal facility at POS terminals (Point-of-Sale terminals) was introduced in India by RBI in 2009, but failed to gain acceptance among public in India. However, the facility is gradually gaining popularity among the public as general
SLF-MF(Special Liquidity Facility for Mutual Funds)
Special Liquidity Facility for Mutual Funds was an unusual window announced by the Reserve Bank of India for ensuring liquidity support to mutual funds. RBI announced the Special Liquidity Facility for Mutual Funds (SLF-MF) on April 27,2020
SBI Wecare Deposit scheme offers 0.8% Senior Citizen benefit on TD
SBI Wecare Deposit is a new term deposit scheme announced by the largest commercial bank in India for Senior Citizens. The SBI Wecare scheme is announced to protect the interest income earned by senior citizens on their
WMA limit enhancement – How much?
WMA (Ways and Means Advance) facility enables states and Central government to tide over short term mismatches in cash flow by availing loan from the central bank. On April 17,2020 RBI announced an increase in the ways
Ways and Means Advance (WMA)–What is it?
Ways and Means Advance (WMA) is a mechanism through which RBI extends funding support to states and central government to enable them to tide over temporary cash flow mismatches. This can be considered similar to a bank
TLTRO 2.0-Targeted Long Term Repo Operation
TLTRO 2.0 (Targeted Long-Term Repo Operations) was announced by RBI on April 17, 2020. RBI intended that the funds raised by the banks through TLTRO 2.0 be utilised for investment grade bonds, commercial paper (CPs) and non-convertible
Targeted Long Term Repo Operations-TLTRO
Targeted Long-Term Repo Operations (TLTRO) is a special kind of LTRO or Long Term Repo Operation. LTRO is a special window announced by RBI to inject liquidity into the banking system for meeting their requirements in short