Entrance Exams
Govt. Exams
The Usha Thorat Committee (2023) was constituted to review the regulatory framework for Non-Banking Financial Companies (NBFCs) in India.
Commercial banks are not NBFCs. NBFCs are financial institutions that provide lending and other financial services but cannot accept deposits from the general public.
SWIFT is the Society for Worldwide Interbank Financial Telecommunication, a secure international messaging system used for cross-border fund transfers.
RBI's inflation target is 4% (Consumer Price Index) with an upper tolerance of 6% and lower tolerance of 2%, as per the RBI Act amendment.
PMFBY provides comprehensive crop insurance coverage to farmers against crop failure due to natural calamities, pests, and diseases at affordable premiums.
CRR is the percentage of bank deposits that commercial banks are required to keep as cash reserves with the RBI without earning any interest.
PMMY targets non-corporate and non-farm small/micro businesses for collateral-free loans. It includes Shishu, Kishor, and Tarun loan schemes up to ₹10 lakh.
SLR is the minimum percentage of deposits that commercial banks are required to maintain in the form of government securities and other approved securities with RBI.
The Monetary Policy Committee, headed by the RBI Governor, is responsible for fixing the Repo Rate and conducting monetary policy to achieve inflation control and growth.
The Basel Committee on Banking Supervision sets international standards for bank capital adequacy. Basel III norms have been implemented in India by RBI for regulatory framework.