Govt. Exams
Entrance Exams
As per RBI guidelines, banks must complete KYC verification within 30 days of opening an account.
FIU-IND is India's financial intelligence unit responsible for combating money laundering and terrorist financing.
The RBI's policy repo rate stands at 6.5% as per the latest monetary policy decisions in 2024-2025.
UPI (Unified Payments Interface) is operated by NPCI for retail payments. NEFT and RTGS are operated by RBI, while CHIPS is a US-based system.
SLR refers to the percentage of their deposits that commercial banks must maintain in the form of liquid assets like government securities.
The maximum deposit insurance coverage under DICGC is ₹5 lakhs per depositor per bank as per the current norms.
The Usha Thorat Committee (2023) was constituted to review the regulatory framework for Non-Banking Financial Companies (NBFCs) in India.
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.
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.
