Banking Awareness Archive
Digital Banking: Opportunities and Challenges
Digital Banking, over a period has revolutionized banking and has moved beyond internet banking. Digital Banking today enables a bank to have a 360 degree interaction with the customer. Technology has played a pivotal role in this
Compliance Audit and Risk Based Supervision
An audit is basically an inspection of the financial accounts, transactions and conduct of an entity or company undertaken by supervisory authorities. Compliance Audit and Risk Based Supervision (Audit) are two prominent forms of audits. In finance
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
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
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
Pradhan Mantri Mudra Yojana (PMMY) and MUDRA Bank
Pradhan Mantri Mudra Yojana (PMMY) is a scheme announced by Central Government for ensuring loans to enterprises in manufacturing, trading and service sectors whose credit needs are below Rs.10L. Farm income generating activities are excluded from the
NHB Residex, House Price Index and National Housing Bank
NHB Residex is a benchmark that measures the price changes of residential housing in Indian cities. A House Price Index (HPI) basically tracks housing price indicators in a city or state or country. NHB Residex and National
Micro, Small and Medium Enterprise: Classification and Original investment- MSMED Act, 2006
Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 was enacted to meet the long standing demand from entrepreneurs and small industry associations. This was the first and single comprehensive legislation for micro, small and medium enterprises.
SBN Ready Reckoner: Instructions Related to Exchange of Specified Bank Notes
Consequent to the withdrawal legal tender status of Rs. 500 and Rs. 1000 notes, RBI has provided various instructions to banks for strict compliance. Details as to how banks are ensuring such instructions are compiled and provide