What is monetary policy?
A Monetary policy is the process by which the government,
central bank, of a country controls (i) the supply of money, (ii) availability
of money, and (iii) cost of money or rate of interest, in order to attain a set
of objectives oriented towards the growth and stability of the economy.
What is Fiscal Policy?
Fiscal policy is the use of government spending and revenue
collection to influence the economy. These policies affect tax rates, interest
rates and government spending, in an effort to control the economy. Fiscal
policy is an additional method to determine public revenue and public
expenditure.
What is Core Banking Solutions?
Core banking is a general term used to describe the services
provided by a group of networked bank branches. Bank customers may access their
funds and other simple transactions from any of the member branch offices. It
will cut down time, working simultaneously on different issues and increasing
efficiency. The platform where communication technology and information
technology are merged to suit core needs of banking is known as Core Banking
Solutions.
What is bank and its features and types?
A bank is a financial organization where people deposit
their money to keep it safe.Banks play an important role in the financial
system and the economy. As a key component of the financial system, banks
allocate funds from savers to borrowers in an efficient manner.
Regional Rural
Banks were established with an objective to ensure sufficientinstitutional credit
for agriculture and other rural sectors. The RRBs mobilizefinancial resources
from rural / semi-urban areas and grant loans and advancesmostly to small and
marginal farmers, agricultural labourers and rural artisans.The area of
operation of RRBs is limited to the area as notified by GoI coveringone or more
districts in the State.Banking services for individual customers is known as
retail banking.A bank that deals mostly in but international finance, long-term
loans for companies and underwriting. Merchant banks do not provide regular
banking services to the general publicOnline banking (or Internet banking)
allows customers to conduct financialtransactions on a secure website operated
by their retail or virtual bank.Mobile Banking is a service that allows you to
do banking transactions on yourmobile phone without making a call , using the
SMS facility. Is a term used for performing balance checks, account
transactions, payments etc. via a mobile device such as a mobile phone.
Traditional banking is the normal bank accounts we have. Like, put your money
in the bank and they act as a security and you will get only the normal
interests (decided by RBI in our case, FED bank in US).Investment banking is
entirely different. Here, people who are having so much money (money in excess
which will yield only less interest if in Banks) will invest their money and
get higher returns. For example, If i have more money instead of taking the
pain of investing in share market, buying properties etc. I will give to investment
banks and they will do the money management and give me higher returns when
compared to traditional banks.
What is E-Governance?
E-Governance is the public sector’s use of information and
communication technologies with the aim of improving information and service
delivery, encouraging citizen participation in the decision-making process and
making government more accountable,transparent and effective.
What is Right to information Act?
The Right to Information act is a law enacted by the Parliament
of India giving citizens of India access to records of the Central Government
and State overnments.The Act applies to all States and Union Territories of
India, except the State of Jammu and Kashmir - which is covered under a
State-level law. This law was passed by Parliament on 15 June 2005 and came
fully into force on 13 October 2005.
Credit Rating Agencies in India?
The credit rating agencies in India mainly include ICRA and
CRISIL. ICRA wasformerly referred to the Investment Information and Credit
Rating Agency of India Limited. Their main function is to grade the different
sector and companies in terms of performance and offer solutions for up
gradation. The credit rating agencies in India mainly include ICRA and
CRISIL(Credit Rating Information Services of India Limited)
What is Cheque?
Cheque is a negotiable instrument instructing a Bank to pay
a specific amount from a specified account held in the maker/depositor's name
with that Bank.A bill of exchange drawn on a specified banker and payable on
demand.“Written order directing a bank to pay money”.
What is demand Draft?
A demand draft is an instrument used for effecting transfer
of money. It is a Negotiable Instrument. Cheque and Demand-Draft both are used
for Transfer of money. You can 100% trust a DD. It is a banker's check. A check
may be dishonored for lack of funds a DD can not. Cheque is written by an
individual and Demand draft is issued by a bank. People believe banks more than
individuals.
What is a NBFC?]
A non-banking financial company (NBFC) is a company
registered under the Companies Act, 1956 and is engaged in the business of
loans and advances, acquisition of shares/stock/bonds/debentures/securities
issued by government, but does not include any institution whose principal
business is that of agriculture activity, industrial activity,
sale/purchase/construction of immovable property.NBFCs are doing functions akin
to that of banks; however there are a few differences:
(i)A NBFC cannot accept demand deposits (demand deposits are
funds deposited at a depository institution that are payable on demand --
immediately or within a very short period -- like your current or savings
accounts.)
(ii) it is not a part of the payment and settlement system
and as such cannot issue cheques to its customers; and
(iii) Deposit insurance facility of DICGC is not available
for NBFC depositors unlike in case of banks.
Difference between banking & Finance?
Finance is generally related to all types of financial, this
could be accounting, insurances and policies. Whereas banking is everything
that happens in a bank only.The term Banking and Finance are two very different
terms but are often associated together. These two terms are often used to
denote services that a bank and other financial institutions provide to its
customers.
What is NASSCOM ?
The National Association of Software and Services Companies
(NASSCOM), the Indian chamber of commerce is a consortium that serves as an
interface to the Indian software industry and Indian BPO industry. Maintaining
close interaction with the Government of India in formulating National IT
policies with specific focus on IT software and services maintaining a state of
the art information database of IT software and services related activities for
use of both the software developers as well as interested companies overseas.
What is ASSOCHAM?
The Associated Chambers of Commerce and Industry of India
(ASSOCHAM), India's premier apex chamber covers a membership of over 2 lakh
companies and professionals across the country. It was established in 1920 by
promoter chambers, representing all regions of India. As an apex industry body,
ASSOCHAM represents the interests of industry and trade, interfaces with
Government on policy issues and interacts with counterpart international
organizations to promote bilateral economic issues.
What is NABARD?
NABARD was established by an act of Parliament on 12 July
1982 to implement the National Bank for Agriculture and Rural Development Act
1981. It replaced the Agricultural Credit Department (ACD) and Rural Planning
and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and
Development Corporation (ARDC). It is one of the premiere agency to provide
credit in rural areas. NABARD is set up as an apex Development Bank with a
mandate for facilitating credit flow for promotion and development of
agriculture, small-scale industries, cottage and village industries,
handicrafts and other rural crafts.
What is SIDBI?
The Small Industries Development Bank of India is a
state-run bank aimed to aid the growth and development of micro, small and
medium scale industries in India. Set up in 1990 through an act of parliament,
it was incorporated initially as a wholly owned subsidiary of Industrial
Development Bank of India.
What is SENSEX and NIFTY?
SENSEX is the short term for the words "Sensitive
Index" and is associated with the Bombay (Mumbai) Stock Exchange (BSE).
The SENSEX was first formed on 1-1-1986 and used the market capitalization of
the 30 most traded stocks of BSE. Where as NSE has 50 most traded stocks of
NSE.SENSEX IS THE INDEX OF BSE. AND NIFTY IS THE INDEX OF NSE.BOTH WILL SHOW
DAILY TRADING MARKS. Sensex and Nifty both are an "index”. An index is
basically an indicator it indicates whether most of the stocks have gone up or
most of the stocks have gone down.
What is SEBI?
SEBI is the regulator for the Securities Market in India.
Originally set up by the Government of India in 1988, it acquired statutory
form in 1992 with SEBI Act 1992 being passed by the Indian Parliament. Chaired
by C B Bhave.
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