Govt Exams
Bancassurance is the delivery and distribution of insurance products through banking channels to customers.
As per RBI guidelines, a savings or current account becomes 'inoperative' if there is no transaction for 12 consecutive months.
SWIFT is a global standard for secure international fund transfers and messaging between banks worldwide.
As of 2024, RBI's repo rate is maintained at 6.5% as per the latest monetary policy decision by the Monetary Policy Committee.
GST is a fiscal policy tool controlled by the GST Council, not a monetary policy tool of RBI. Repo, Reverse Repo, and SLR are RBI instruments.
Indian banks can accept fixed deposits for any tenure as per the individual bank's policies, with no regulatory upper limit.
PMMY aims to promote micro and small enterprises by providing collateral-free loans up to 10 lakhs for business activities.
As per RBI's current guidelines, the Statutory Liquidity Ratio is fixed at 18% of net demand and time liabilities.
SLR is the percentage of deposits that banks must maintain in prescribed liquid assets such as government securities and treasury bills.
RBI prescribes a minimum CAR of 10.5% for scheduled commercial banks, which includes minimum Tier I capital of 7.5%.