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Table of Contents RBI’S Key Policy Rates Table of Contents RBI’s Key Policy Rates ....................................................................................................................................... 4 ASBA (Applications Supported by Blocked Amount) ........................................................................................ 4 CASA .................................................................................................................................................................. 6 Quantitative Easing .............................................................................................................................................. 6 Asset classes ........................................................................................................................................................ 8 Know Your Customer (KYC) .............................................................................................................................. 9 Debt Crisis ....................................................................................................................................................... 9 All about Deficits ........................................................................................................................................... 10 DTC and other taxes .......................................................................................................................................... 12 Budget Process .................................................................................................................................................. 12 Deposit Insurance .............................................................................................................................................. 14 Cheque Truncation System ................................................................................................................................ 14 Real-time gross settlement (RTGS) ................................................................................................................... 15 National Electronic Fund Transfer (NEFT) ....................................................................................................... 15 GDP deflator ...................................................................................................................................................... 16 Base rate ............................................................................................................................................................ 16 Indian Depository Receipts ................................................................................................................................ 17 Double-Dip Recession ....................................................................................................................................... 18 Nomination ........................................................................................................................................................ 18 Profitability of Banks ......................................................................................................................................... 19 Non-tax sources of income for the government ................................................................................................. 20 Business Correspondents ................................................................................................................................... 21 EEFC accounts .................................................................................................................................................. 21 Reserve Bank ‘oversight’ functioning ............................................................................................................... 22 Self-help groups ................................................................................................................................................. 23 Priority-sector lending ....................................................................................................................................... 23 Islamic-finance .................................................................................................................................................. 24 GAAR ................................................................................................................................................................ 24 Current Account Deficit Funding ...................................................................................................................... 24 White Label ATMs ............................................................................................................................................ 25 Unified Financial Regulatory Agency ............................................................................................................... 25 What is core inflation? ....................................................................................................................................... 27 Exchange Traded Funds (ETFs) ........................................................................................................................ 27 Foreign Institutional Investor (FII) .................................................................................................................... 30 SOME RECENT INNOVATIONS ................................................................................................................... 36 AADHAAR PAYMENTS BRIDGE ................................................................................................................. 38 AADHAAR ENABLED PAYMENT SYSTEM ............................................................................................... 38 Basic Features of BHIM .................................................................................................................................... 39 Special Features of BHIM ................................................................................................................................. 39 New Features of BHIM ................................................................................................................................. 40 Banking Awareness …..where career starts Page 1 of 101 IDFC AADHAAR PAY .................................................................................................................................... 42 Aadhar Pay – Aadhar Payment App .................................................................................................................. 43 Download Aadhar Pay – Aadhar Payment App ............................................................................................ 43 Why Aadhar Payment App ............................................................................................................................ 43 CURRENCY ISSUES ....................................................................................................................................... 44 COMMITTEES ON VARIOUS SECTORS OF INDIAN ECONOMY ........................................................... 46 FLAGSHIP PROGRAMMES OF GOVERNMENT OF INDIA ...................................................................... 46 EDUCATION ORIENTED PROGRAMMES .................................................................................................. 47 EMPLOYMENT, POVERTY, RURAL & URBAN ......................................................................................... 47 DEVELOPMENT PROGRAMMES ................................................................................................................. 47 HEALTH ORIENTED PROGRAMMES.......................................................................................................... 47 RURAL EMPLOYMENT PROGRAMMES .................................................................................................... 47 WOMEN EMPOWERMENT PROGRAMMES ............................................................................................... 48 MAJOR AGRICULTURAL REVOLUTIONS ................................................................................................. 48 BANKING QUESTIONS .................................................................................................................................. 49 ANSWER KEY ................................................................................................................................................. 64 BANKING QUESTIONS .................................................................................................................................. 65 Banking Awareness …..where career starts Page 2 of 101 Banking Awareness …..where career starts Page 3 of 101 RBI’s Key Policy Rates What are the key policy rates used by RBI to influence interest rates? The key policy or ‘signalling’ rates include the Bank Rate, the Repo Rate, the Reverse Repo Rate, the Cash Reserve Ratio (CRR) and the Statutory Liquidity Ratio (SLR). RBI increases its key policy rates when there is greater volume of money in the economy i.e. when too much money is chasing the same or lesser quantity of goods and services. Conversely, when there is a liquidity crunch or recession, RBI would lower its key policy rates to inject more money into the economic system. What is Repo Rate? Repo Rate, or Repurchase Rate, is the rate at which RBI lends to banks for short periods. This is done by RBI buying government
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