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PMMY aims to promote micro and small enterprises by providing collateral-free loans up to 10 lakhs for business activities.
UPI is a real-time payment system developed by NPCI and promoted by RBI for seamless fund transfers.
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%.
Allahabad Bank, established in 1865, is the oldest bank in continuous operation in India and was the first bank founded by Indians.
KYC (Know Your Client) is a mandatory process for banks to verify customer identity and assess potential risks of illegal activities.
The RBI is the central bank and primary regulator of payment systems in India, including NEFT, RTGS, and UPI.
Cross-border rupee transactions are regulated under FEMA and specific RBI guidelines for internationalization of rupee.
An LTD ratio of 95% indicates the bank is lending aggressively relative to deposits, which may strain liquidity.