Govt. Exams
Entrance Exams
BHIM (Bharat Interface for Money) is an RBI-NPCI initiative providing a simple, secure digital payment platform accessible to all, with merchant-specific QR code features for business transactions.
The RBI has been vested with authority under the Payment and Settlement Systems Act, 2007, to regulate and supervise all payment and settlement systems in India.
Floating rate accounts have interest rates that fluctuate based on changes in the RBI's benchmark rates or market conditions, unlike fixed-rate accounts where the rate remains constant.
UPI allows real-time, 24/7 peer-to-peer and peer-to-merchant fund transfers. While RTGS is real-time for bulk transfers and NEFT/IMPS have specific timings, UPI provides true round-the-clock service.
A repo (repurchase agreement) is a short-term borrowing instrument where a seller sells securities with an agreement to repurchase them at a higher price. It's a key liquidity management tool for banks.
As per RBI guidelines (2024-2025), the statutory minimum SLR is 18% of net demand and time liabilities. This ensures banks maintain sufficient liquid assets.
Basel III is an international regulatory framework that aims to strengthen bank capital adequacy, stress testing, and market liquidity risk. It was developed post-2008 financial crisis to prevent systemic risks.
The Integrated Ombudsman Scheme 2021 provides a mechanism for customers to file complaints and seek redressal against banking services.
India undertook significant bank consolidation in 2019: Dena and Vijaya banks merged into BoB; PNB merged with OBC and UBI.
The CRR is maintained at 4.5% of banks' Net Demand and Time Liabilities (NDTL) as per recent RBI policy guidelines.
