Govt Exams
The Payment and Settlement Systems Act, 2007 provides the legal framework for regulating payment systems in India.
NEFT stands for National Electronic Fund Transfer, a system for electronic transfer of funds between banks in India.
Basel III replaced Basel II framework with stricter capital requirements and liquidity standards implemented post-2008 financial crisis.
RBI guidelines specify 80% as the maximum LTV ratio for housing loans to manage systemic risk.
FSDC, chaired by the Finance Minister, coordinates between RBI, SEBI, IRDA, and other financial regulators to ensure financial stability.
The Microfinance Institutions (Development and Regulation) Act, 2006 specifically regulates MFIs, focusing on transparency and consumer protection.
CASA (Current Account Saving Account) ratio measures the proportion of low-cost deposits, indicating deposit quality and profitability.
OMO involves buying and selling government securities to regulate liquidity and money supply in the banking system.
LAF allows banks to borrow through Repo (overnight) or Reverse Repo to manage short-term liquidity needs.
The RBI Governor's tenure is typically 6 years or until the age of 65 years, whichever is earlier.