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General Knowledge for Competitive Exams

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What is the Banking Regulation (Amendment) Bill, 2020?

Jul 13, 2020
The Banking Regulation Act, 1949 is a law that regulates banking firms in India. This act has been amended by the Banking Regulation (Amendment) Bill, 2020. Read this article to know that what are the salient features of the Banking Regulation Act 2020.

List of Finance Ministers of India

Jun 3, 2020
Ministry of Finance is one of the most important ministries within the Government of India and is headed by the Finance Minister. Nirmala Sitharaman is the current Finance Minister of India. She took charge on 31 May 2019. Let us have a look at the list of Finance Ministers of India from 1947 till present.  

Foreign Direct Investment: Sectorwise FDI Limit, Countrywise FDI inflow, and FDI Inflow in India

Apr 28, 2020
FDI limits in different sectors in India 2020: India has attracted total FDI amount US$ 62,001 million in 2018-19. The service sector has the highest share in India's FDI share amount of US$ 80,670.79 from April 2000 to December 2019. Agriculture & Animal Husbandry, Auto components, and E-commerce activities have the permission of 100% FDI through automatic route.

Provident Fund, National Savings Certificate, Kisan Vikas Patra: Meaning and current rate of interest

Apr 1, 2020
National Savings Certificate, Fixed deposits, Provident Fund, and Kisan Vikas Patra are some products launched to increase saving habit in the general public.These are some products to get stable return. Let us have a look on the rate of interest offered on these products.   

What are the main functions of Reserve Bank of India?

Mar 31, 2020
Reserve Bank of India (RBI) is the Central Bank of India. RBI was established on 1 April 1935 by the RBI Act 1934. Key functions of RBI are, banker’s bank, the custodian of foreign reserve, controller of credit and to manage printing and supply of currency notes in the country.

Yes Bank Crisis: 5 Key Reasons to Know

Mar 6, 2020
The Yes bank is another Indian commercial bank that is in financial trouble. The yes bank has repayment liability of amount US$ 24000 crore. The RBI has set the withdrawal limit of 50000 rupees per customer from March 5 to April 3 for yes bank customers. Read this article to know the reasons for the Yes bank crisis.

What is the cost of printing 200, 500 and 2000 rupees notes in India?

Feb 12, 2020
The Reserve Bank of India (RBI) prints currency notes of all denominations except one rupee note. In its annual report, the Reserve Bank has stated that the cost of printing a note of 200 rupees is Rs.2.93, printing cost of 500 rupee note is Rs. 2.94 and printing of a 2000 rupee note cost Rs.3.54.

6 Amazing Questions on Indian Budget You Never Knew

Jan 31, 2020
The term 'Budget' is not mentioned in the Indin Constitution. It is mentioned as ‘Annual financial statement’ in article 112. The Union budget is an estimate of income and expenditure of the central Government for a definite duration usually one year.  

Union Budget of India: Definition and Types

Jan 31, 2020
Union Budget: Meaning and Types: A Union budget is an estimation of revenue and expenditure of the Central government over a specified period of time and is usually one year.

What is the difference between payments banks and commercial banks?

Dec 10, 2019
Payments Banks and the Commercial Banks both work as per the Banking Regulation Act, 1949. The basic difference between commercial banks and payment banks is that later can accept deposits upto maximum Rs. 1 lakh/customer while there is no such limit for commercial banks.

The Monetary Policy Committee (MPC): Composition and Objectives

Oct 4, 2019
 Monetary Policy Committee (MPC) constituted by the Central Government as per the Section 45ZB of the amended RBI Act, 1934. The first meeting of the MPC was held on October 3 and 4, 2016. This committee decides various policy rates like Repo rate, Reverse repo rate, MSF and Liquidity Adjustment Facility etc.  On 4th October, 2019 the RBI Monetary Policy committee has cut the repo rate by 25 bps to 5.15%. Now the repo rate stands at 5.15%, the lowest since March 2010.

What is RBI's Monetary Policy: Objectives & Instruments

Oct 4, 2019
The monetary policy refers to a regulatory policy whereby the central bank maintains its control over the supply of money to achieve the general economic goals. Main instruments of the monetary policy are: Cash Reserve Ratio, Statutory Liquidity Ratio, Bank Rate, Repo Rate, Reverse Repo Rate, and Open Market Operations.

What is the Sensex and how is it calculated?

Sep 23, 2019
The term 'Sensex' was given by stock market analyst Deepak Mohoni and it is made from combination of two words Sensitive and Index. The Sensex measures the stock prices of 30 listed companies of the Bombay Stock Exchange. The main reason behind fluctuation in the Sensex is the up and down in the share price  of top 30 companies.

SEBI: Powers and Functions to regulate Security Market in India

Aug 22, 2019
The Securities and Exchange Board of India is the regulatory body which deals in matters related to the development and regulation of securities market in India. It was established on 12th of April in 1988 but it got statutory status in 1992. Ajay Tyagi is the Chairperson of SEBI.

All about Goods and Services Tax (GST)

Jul 5, 2019
Goods and Services Tax (GST) is a federal tax. GST is an indirect tax, imposed on the sale of goods and services. It is implemented throughout the country since July 1, 2017. There will be no distinction between goods and services for the purpose of taxation. GST will be a destination-based tax. This implies that all State GST collected will ordinarily accrue to the State where the consumer of the goods or services sold resides.

List of Governors of Reserve Bank of India

Jun 24, 2019
The first Governor of the Reserve Bank of India was British banker Osborn Smith, while C.D. Deshmukh was the first Indian Governor of Reserve Bank of India. At present, the Governor of Reserve Bank of India is Shashikant Das, who took charge on 12 Dec. 2018.

Paytm Credit Card: Key Features and Benefits

May 16, 2019
Paytm offers facility of online shopping, paying bills, money transfer etc. Recently Paytm launched its much expected Paytm credit card which is also called Paytm First Card. So get to know key features and benefits of the Paytm credit card read this article.

What is the Meaning and Purposes of Deficit Financing?

Apr 9, 2019
When the revenue of the government is shorter than its expenditure then this situation is dealt by printing more currency, buying from public and foreign institution. This temporary arrangement of the money is known as the deficit financing.

Why Rupee is falling against Dollar currently?

Apr 2, 2019
At the time of India's independence, the value of one dollar was equal to one rupee but in the June 2018, the value of Indian rupee against the US dollar has reached its lowest level at Rs.72.51 per dollar. In this article, we explained the reasons behind the depreciation of Indian Rupee in the current months.

Structure of Banking Sector in India

Apr 1, 2019
Reserve Bank of India is the Central Bank of our country. It was established on 1st April 1935 under the RBI Act of 1934. It holds the apex position in the banking structure. RBI performs various developmental and promotional functions. As of now 26 public sector banks in India out of which 21 are Nationalised banks and 5 are State Bank of India and its associate banks. There are total 92 commercial banks in India. Public sector banks hold near about 75% of the total bank deposits in India.

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