Govt Exams
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.
Basel III prescribes a minimum CET-1 ratio of 4.5% of risk-weighted assets. India has implemented Basel III norms with additional conservation buffers.
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.
The Financial Action Task Force (FATF) establishes international standards for combating money laundering and terrorist financing. India complies with FATF recommendations.
PMFBY provides comprehensive crop insurance coverage to farmers against crop failure due to natural calamities, pests, and diseases at affordable premiums.
Tier-2 capital includes subordinated debt, revaluation reserves, and general loan loss provisions. It supplements Tier-1 capital for meeting capital requirements.
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.