Banking Awareness Capsule : March - 2017
Multilateral Investment Guarantee Agency: Role in Healthy Investment Environment
Introduction: (i) Equity, loan, share holder loans and share holder guarantees. . Multilateral Investment Guarantee Agency (MIGA) is an international financial (ii) Management contracts, asset institution associated with the World Bank securitization bonds, leasing activities, franchise Group. agreements and license agreements. . It came into being in the year of 1988 and is . primarily a development finance institution. Small Investment Programme by MIGA aims . It has its headquarters in Washington D.C., to promote FDI specifically into small and United States and has around 181 nations as medium enterprises, via offering exclusive insurance coverage scheme SME's. its members. . . The prime motivation of MIGA as an Offers political risk insurance to a wide International Financial Institution is to range of investments effectively, especially in encourage a confident investment developing nations. . Promotion of Foreign Direct Investment into environment via the act of insurance against unforeseen situations, especially in developing countries to support economic developing nations. growth, reduce poverty and improve standard of living. . Functions: Creation of new Job opportunities, development of infrastructural facilities, . Offers insurance to cover different types of generation of new tax revenues, as well as non-commercial risks such as effective utilization of natural resources via (i) Risks associated with currency adoption of Judicious programmes and inconvertibility. policies. (ii) Risks associated with government . Insurance of Long term debt equity as well expropriation. as other assets and contracts of long (iii) Risks associated with war. gestation period. (iv) Risks associated with terrorism. (v) Risks associated with civil Role in Healthy Investment Environment disturbances in the host country. MIGA endeavors to promote a healthy investment (vi) Risks associated with non-honoring environment in developing nations by insuring the of financial obligations between Investing and Investment against various risks associated with host entity the peculiarities of developing nations, which ranges from political risks to investment related . Offers insurance coverage to investment insecurities. It is being owned by its 181 member vehicles such as
Page 2
Banking Awareness Capsule : March - 2017 governments which includes both developing as entity that plays out its role as a multi lateral well as developed nations. Membership in MIGA is financial entity, offering insurance services to available only to those countries who have potential investors as well as the investments membership with the World Bank especially which they undertake in developing nations. This International Bank for Reconstruction and infact ensures that Foreign Direct Investments do Development (IBRD). It is being governed by the find destination in almost all developing nations member countries, represented by the council of irrespective of their internal as well as external Governors, Board of Directors and an Executive environment and the investors do get the Vice President who strategically coordinates the assurance, confidence as well as the expected functioning of the organization. potential benefits out of the same. This do well reflects the motives of the World Bank group Conclusion which is to ensure the sustained development of MIGA which has the characteristics of a the nations around the world. Development Finance Institution is a non-political
List of Currency Terms With Explanation
Legal tender: Soiled note:
As per provisions of coinage Act 1996, bank notes, "Soiled note" means a note which, has become currency notes and coins (Re. 1 and above) are dirty due to usage and also includes a two piece legal tender for unlimited amount. The subsidiary note pasted together wherein both the pieces coins (below Re. 1) are legal tenders for sum not presented belong to the same note and form the exceeding Re 1. Issue of 1, 2 and 3 paisa coins entire note. discontinued wef Sep 16, 1981. Mutilated Note: Currency chest: Mutilated banknote is a banknote, of which a Currency chests are operated by the Reserve Bank portion is missing or which is composed of more of India (RBI) so that they can provide good than two pieces. quality currency notes to the public. However, RBI Imperfect Note: has appointed commercial banks to open and monitor currency chests on behalf of RBI. The Imperfect banknote means any banknote, which is money kept in currency chests in the commercial wholly or partially, obliterated, shrunk, washed, banks is considered to be kept in RBI. altered or indecipherable but does not include a mutilated banknote. Small coin depot: Soiled and Mutilated banknotes can be The bank branches are also authorized to exchanged for value. All banks are authorized to establish Small Coin Depots to stock small coins. accept soiled banknotes for full value. They are The Small Coin Depots also distribute small coins expected to extend the facility of exchange of to other bank branches in their area of operation. soiled notes even to non-customers. All currency
Page 3
Banking Awareness Capsule : March - 2017 chest branches of commercial banks are more than 50 percent of the area of authorized to adjudicate mutilated banknotes and respective denomination, rounded off to the pay value for these, in terms of the Reserve Bank next complete square centimeter. of India (Note Refund) Rules, 2009 . For denominations of Rs. 50, Rs.100, Rs. 500 A mutilated banknote can be exchanged for full and Rs. 1000, the area of the single largest value if: undivided piece of the note presented is more than 65 percent of the area of . For denominations of Re. 1, Rs. 2, Rs. 5, Rs. respective denomination, rounded off to the 10 and Rs. 20, the area of the single largest next complete square centimeter. undivided piece of the note presented is
National Financial Switch: Gateway of ATM Switching
What is NFS:
National Financial Switch is a network of shared NOTE: ATM’s. It was developed by Institute for ➢Before 14 August 2011, NFS was limited to Development and Research in Banking Technology scheduled banks with RTGS membership. (IDRBT), Hyderabad in 2004. It is run by the ➢The first bank to open ATM service in India was National Payment Corporation of India (NPCI) the Hongkong and Shanghai Banking Corporation currently. (HSBC) in 1987 in Mumbai.
Objective: Background:
. It aims to interconnect all the ATM’s in the . The national financial switch started with country and facilitate easy banking to the connecting the automated teller machine users.NFS connects the ATM of member (ATM) of three banks, which are ICICI Bank, banks under a single network. The user or corporation Bank and Bank of Baroda. Later the customer need not avail the use of his IDBRT worked to bring all the banks under core/ home bank for transactions. Since all common network thereby connecting 37 the ATM of the member banks are banks by 2009. connected, the customer can use any ATM . Though NFS was developed and maintained other than that of his specified bank. by IDBRT, it was later shifted to National . The banks without ATM network but which Payments Corporation of India (NPCI) in the can provide core banking facilities with 24x7 year 2009. services can join the NFS through a sponsor bank. The objective behind such a move is to Services offered in NFS: enable the non-scheduled cooperative banks NFS offers various basic transactions through its and other regional rural banks (RRB) to member banks, such as: access the wide network of ATMs in the ➢Balance Enquiry / Balance available with the country, enabling the customers of such account holder bank to access banking services through any ➢Cash Withdrawal ATM of a connected bank. ➢Change of ATM PIN
Banking Awareness Capsule : March - 2017
➢Mini Statement of the transactions made the past. Some of which were: ➢Swadhan- the first network of shared ATM’s in NFS also introduced value-added services, such India which was managed by India Switch as: Company (ISC) for a five-year period. It was set up ➢Request for Cheque book by Indian Banks Association (IBA) in 1997.It ➢Request for Transactions Statement. allowed its member banks cardholders to ➢Instant fund transfer withdraw cash from any ATM in the network for ➢Security free of cost. The customers of the non-member ➢Card to card fund transfer, in which transactions banks were charged for any transaction made. can be done using an ATM or debit card. The card ➢Cash Tree- formed with interconnecting ATM holder has to enter the ATM/ Debit card number network of Union Bank of India, Indian Bank, Bank of the person whom the fund is to be transferred. of India, United Bank of India and syndicate Bank. Both the banks of the depositor and remitter ➢Cashnet- A similar network formed by Citibank, should be a member of NFS. the Industrial Development Bank of India, Standard Chartered Bank and Axis Bank ➢Punjab National Bank and Canara Bank also HEADQUARTERS: Mumbai created such networks.
There were other interconnected ATM networks in
10 Important Banking Terms To Remember
1) The Balance of Trade: international transactions: the balance of payments surplus. The difference of the country’s exports and the value of its imports are known as the Balance of 3) NOSTRO Account: Trade. It normally incorporates trade in services A NOSTRO account is one which is maintained by unless mentioned as the balance of merchandise an Indian Bank in the foreign countries. trade. It includes earnings (interest, dividends, etc.) on financial assets. 4) VOSTRO Account:
2) A Balance of Payments (BOP): A VOSTRO account is one which is maintained in India by a foreign bank with their corresponding A list that states a country’s transactions with bank. other countries for a certain time period (generally 1 year). Payments into the country (receipts) are 5) BCBS: entered as positive numbers, called credits. Basel Committee on Banking Supervision body is Payments out of the country (payments) are formed by the governors of the Central Bank of entered as negative numbers called debts. A the ten nations group. single number summarises the country’s
6) LIBOR:
Page 5
Banking Awareness Capsule : March - 2017 chest branches of commercial banks are more than 50 percent of the area of authorized to adjudicate mutilated banknotes and respective denomination, rounded off to the pay value for these, in terms of the Reserve Bank next complete square centimeter. of India (Note Refund) Rules, 2009 . For denominations of Rs. 50, Rs.100, Rs. 500 A mutilated banknote can be exchanged for full and Rs. 1000, the area of the single largest value if: undivided piece of the note presented is more than 65 percent of the area of . For denominations of Re. 1, Rs. 2, Rs. 5, Rs. respective denomination, rounded off to the 10 and Rs. 20, the area of the single largest next complete square centimeter. undivided piece of the note presented is
National Financial Switch: Gateway of ATM Switching
What is NFS:
National Financial Switch is a network of shared NOTE: ATM’s. It was developed by Institute for ➢Before 14 August 2011, NFS was limited to Development and Research in Banking Technology scheduled banks with RTGS membership. (IDRBT), Hyderabad in 2004. It is run by the ➢The first bank to open ATM service in India was National Payment Corporation of India (NPCI) the Hongkong and Shanghai Banking Corporation currently. (HSBC) in 1987 in Mumbai.
Objective: Background:
. It aims to interconnect all the ATM’s in the . The national financial switch started with country and facilitate easy banking to the connecting the automated teller machine users.NFS connects the ATM of member (ATM) of three banks, which are ICICI Bank, banks under a single network. The user or corporation Bank and Bank of Baroda. Later the customer need not avail the use of his IDBRT worked to bring all the banks under core/ home bank for transactions. Since all common network thereby connecting 37 the ATM of the member banks are banks by 2009. connected, the customer can use any ATM . Though NFS was developed and maintained other than that of his specified bank. by IDBRT, it was later shifted to National . The banks without ATM network but which Payments Corporation of India (NPCI) in the can provide core banking facilities with 24x7 year 2009. services can join the NFS through a sponsor bank. The objective behind such a move is to Services offered in NFS: enable the non-scheduled cooperative banks NFS offers various basic transactions through its and other regional rural banks (RRB) to member banks, such as: access the wide network of ATMs in the ➢Balance Enquiry / Balance available with the country, enabling the customers of such account holder bank to access banking services through any ➢Cash Withdrawal ATM of a connected bank. ➢Change of ATM PIN
Page 4
Banking Awareness Capsule : March - 2017
Purvanchal Bank State Bank of India Gorakpur, Uttar Pradesh
Saptagiri Grameena Bank Indian Bank Chitoor, Andhra Pradesh
Chaitanya Godavari Andhra Bank Guntur, Andhra Pradesh Grameena Bank
Ellaquai Dehati Bank State Bank of India Sri Nagar, Jammu and Kashmir
Gramin Bank Of Aryavrat Bank of India Lucknow, Uttar Pradesh
Kashi Gomti Samyut Gramin Union Bank of India Varanasi, Uttar Pradesh Bank
Langpi Dehangi Rural Bank State Bank of India Diphu, Assam
Kaveri Grameena Bank State Bank of Mysuru Mysuru, Karnataka
Malwa Gramin Bank State Bank of Patiala Sangrur, Punjab
Narmada Jhabua Grameen Bank of India Indore, Madhya Pradesh Bank
Pallavan Grama Bank Indian Bank Salem, Tamil Nadu
Bangiya Gramin Vikash Bank United Bank of India Baharampur, West Bengal
HDFC BANK (Housing Development Finance Corporation)
Introduction: inaugurated by the then Union Finance Minister, Manmohan Singh. . HDFC (Housing Development Finance . As of December 31, 2016, the Bank’s Corporation) Bank is an Indian banking and distribution network was at 4,555 branches financial services company. and 12,087 ATMs across 2,597 cities. . It is India’s second-largest private sector . Tagline :We Understand Your World lender by assets. . Headquarter : Mumbai, Maharashtra. . It is the largest bank in India by market . MD & CEO : Mr.Aditya Puri capitalization as of February 2016. . Founded on : August, 1994.
History: Abroad Offices: . In 1994 HDFC Bank was incorporated, with its registered office in Mumbai, India. . Bahrain . Its first corporate office and a full-service . Hong Kong branch at Sandoz House, Worli, Mumbai was . Dubai
Page 7
Banking Awareness Capsule : March - 2017
Awards Received (2016): . 15-minute Two-Wheeler Loan . 10 second personal loan . Best Banking Performer Award, India in 2016 . e-payment gateways by Global Brands Magazine. . Digital Wallet . Bank of the year & best digital banking
initiative award 2016 by KPMG study of Project AI: India’s Best Bank . Business leader of the year for Aditya puri by . The latest project of HDFC bank is “Project AIMA Managing India AI”, under which it would deploy robots at . Best Performing Branch in Microfinance selected bank branches. among Private sector bank, 2016 by . These robots will offer options such as cash NABARD withdrawal or deposit, forex, fixed deposits . It was ranked 69th in 2016 BrandZ Top 100 and demat services displaying on the screen Most Valuable Global Brands. to persons coming into the branch.
Mergers: CSR Activities: . Times Bank in February 2000. . Sustainable Livelihood - . Centurion Bank in 2008. Provide empowerment to the rural section of the
country, especially women Digital offerings provided by HDFC: . . Chillr Financial Literacy - . PayZapp Financial literacy in 600 schools across Andhra Pradesh and Odisha. . SME Bank . Watch Banking . 30-Minute Auto Loan
Aadhaar App - A New Era In Digital Payments
Demonetisation of high domination currency payments through any bank account without notes in Nov 2016,has paved the way in shaping using the internet facility. Indian economy as a Cashless Economy.To ease the transactions,many efforts have been taken.A INTRODUCTION : serious attemot could be Aadhaar payment app.Since 109 crore out of 120 crore are "This app can be used by a person to make registered with Aadhaar. payments without any phone. Almost 40 crore Aadhaar Payment App is an initiative by the Aadhaar numbers already stand linked to bank government for making cashless transactions accounts – that is half the adults in India. The aim through your multiple bank accounts. The is to link all Aadhaar numbers with bank accounts universal app offers you to ease out your by March, 2017".
Page 8
Banking Awareness Capsule : March - 2017
Ajay Bhushan Pandey, CEO, Unique Identification instantly from Aadhaar linked account after Authority of India (UIDAI) biometric verification. The app has been developed by IDFC Bank along How to Download Aadhar Payment App? with UIDAI and National Payments Corporation of India. Finance Minister Mr. Arun Jaitley and Aadhar Payment app “Aadhar Pay” for merchants information and Technology Minister Mr. Ravi can be downloaded from the Google Play store on Shankar Prasad were shown the technology on 19 android smartphone. The link to download the December. Aadhar Payment app would be available once the app is officially launched. Objective: Alternatively, the app can also be searched directly in the play store app in android The main objective of Aadhar payment app is to smartphone and downloaded instantly from increase the use of digital transactions among there. merchants in the country. The smartphone app What is the Security Concern? will be easy to use and there will be no charges for transactions as being charged by private card It is a highly secure app which will use two main companies such as “Visa” and “MasterCard”. platforms – Now there is no need to download and make 1. Aadhaar Payment Bridge (APB). payments through various digital apps. Aadhaar 2. Aadhaar Enabled Payment System (AEPS). Payment App is an initiative by the government APB will act as repository between the banks and for making cashless transactions through your the customers to provide a smooth flow of multiple bank accounts. The universal app offers transactions, while AEPS will help in you to ease out your payments through any bank authenticating the online process. account without using the internet facility. The What are its Benefits for a Customer? unique 12-digit number, which carries your identity, is needed to do payments at the various . No requirement of a debit card or credit card merchant who is accepting payments through the for payments Aadhaar card. . No need of POS machine to swipe the card. . No requirement of the internet connection to What is Aadhaar Payment Merchant’s App? any app to register. It is an application used by the merchants to take . No requirement of multiple apps like digital payments online from customer’s bank account to wallets to make any payment. their own account using 12-digit unique Aadhaar . Highly secured,as fingerprint is used as number of the clients where clients can choose validation for payments. any of their bank accounts to do the transactions. Each transaction will be authenticated by the How can you use it? fingerprint of the customer. Transactions can be Android users can download the app from play made through Aadhaar-linked bank store while iPhone users can download it accounts (AEBA) only.Also Aadhaar App uses from iTunes. Merchants can login from their biometric reader(available for Rs 2,000 currently) Aadhaar number using the fingerprint scanner. attached to a smartphone.Money would be paid Once the app is validated, merchants can use it to Page 9
Banking Awareness Capsule : March - 2017 take payments. Conclusion : Options like account summary, payments, etc. are Over time,this would reduce the need for banking available in the app where the merchant needs to correspondents as more and more merchants use click on the pay option and enter the Aadhaar Aadhaar App on their phones for transactions.The number of the customer. As soon as the Aadhhaar App itself has been tested by a couple of banks number is entered, it will show you the numbers of and is being finalised. banks through which want to do payments. Make In contrast,at the moment,they earn from other sure that before using the Aadhaar number you digital transactions.UIDAI was convincing banks need to register your Aadhaar number with all that the commission must be seen in the light of your bank accounts.Validation of payment will existing commission structures for correspondents again require the customer’s fingerprint to and the cost of transactions. authenticate the transaction process.
List of Insurance companies in India: Tagline, Founder and Heads
MUMBAI BASED COMPANIES:
CODE WORD: “Birla had accounts in ICICI and HDFC for his future needs. With that money he boughtnew LG TV, Videocon dish,Kotak Camera, Tata Indica car and Reliance Jio.”
Name of the Tagline Founders Heads of the Company Company
Life Insurance Yogaksheman Government of India V.K. Sharma Corporation Limited Vahamyaham (Public sector)
New Indian India’s Premier Assurance General Insurance Public Sector G. Srinivasan Corporation Limited Company
General Insurance Aapatkale Public Sector Alice Vaidyan Company Rakshisyami
Kotak Mahindra Old G. Muralidhar Mutual Life Faideyka Insurance Private sector
Insurance Limited
Page 10
Banking Awareness Capsule : March - 2017
Future Generali Life Ekshaagun Zindagi Joint venture K. G. Krishnamoorthy Rao Insurance ke naam
Tata AIA Life Private (Tata son’s Insurance Company You click we cover and American Naveen Tahilyani Limited International Group)
ICICI Prudential Life Zimmedarika Insurance Company Joint Venture N. S. Kannan Humsafar Limited
HDFC Standard Life Private (Hasmukhbai Insurance Company Sarutha ke Jiyo Amitabh Chaudry Parekh) Limited
Birla Sun Life Tour Dreams our Private (Aditya Vikram Insurance Company Pankaj Razdan commitment Birla) Limited
Reliance General Public listed company Sam Ghosh Insurance Company
Liberty Videocon Roopam Asthana General Insurance
ICICI Lombard Public Listed General Insurance Quick easy Smart Company ICICI and Bargava Dasgupta Company Limited Fair Fax
NEW DELHI BASED COMPANIES :
CODE WORD: ‘SBI gives MAXimum ORIENTATION in New Delhi’.
Heads of The Name of The Company Tagline Founder Company
Max Life Insurance Aapke Sachhee Advisor Analjit Singh Rajesh Sud Company Limited
Page 11
Banking Awareness Capsule : March - 2017
Max New Life Insurance Karo Zyada kalraada Analjit Singh Rajesh Sud Company Limited
Max Bupa Health Your Health first Analjit Singh Rajesh Sud Insurance
SBI Life Insurance SBI and BNP With us, you are sure Arjit Basu Company Limited Paribas
Oriental Insurance Prithivi, Agni, Jal, Akash, Sabhi Government of A.K. Saxena Company Limited Suraksha Hamare Pass. India
GURGAON BASED COMPANIES:
CODE WORD: ‘I am in Gurgaon and my PAApa is in Tokio.’
Heads of The Nmame of The Company Tagline Founders Company
IFFCO Tokio General Indian Farmer Fertiliser Muskurate Raho Yokesh Lokiya Insurance Co-operative
Apollo Munich Health We know Prathap C. Reddy Antony Jacob Insurance healthcare
Aviva Indian Life Insurance Kal Par Control Trevor Bull
PNB Metlife India Insurance Have you met Life Tarun Singh Company Limited today?
CHENNAI BASED COMPANIES:
CODE WORD: “U can see ITC grand CHOLA hotel in Chennai”.
Heads of The Name of The Company Tagline Founders Company
United India Insurance Company Rest Assured Government of Ariful Hoda Limited with us India
Page 12
Banking Awareness Capsule : March - 2017
Cholamandalam MS General Public Listed Gopalaratnam Insurance Company
OTHERS:
CODE WORD: BaN
Heads of The Name of The Company Tagline Founders Company
National Insurance Trusted Since 1906, Government of India Girija Kumar Company Limited Thoda simple Socho
Bajaj Alliance Life Joint Venture Insurance Company Jiyo Befiqar Bajaj groups and Alliaz SE, Anuj Aggarwal Limited a European group
Banking And Financial Awareness
INTERNATIONAL: empowerment of Adolescent girls and young women. . The amount of financing Agreement has . International Monetary Fund has reached an been signed between India and World Bank agreement with Ukraine to provide fresh for the project TEJASWINI was USD 63 disbursement of USD 1 Billion in the first half million. Tejaswini is a socio-economic of the march 2017. TIE-UPS: GOVERNMENT OF INDIA:
. Reliance General Insurance and Catholic . The amount of INR 756 crores was allotted Syrian Bank tied up for bancassurance for the treatment of cataract patients over project. next five years by the Union Health Minister . HDFC Bank and ET Money jointly launches J.P. Nadda. DATA LED group term Insurance plan . Kerala had made maximum registration under GST. HIGHLIGHTS OF MADHYA PRADESH BUDGET: . GST council has agreed to provide a composition scheme for small business. Now . Estimation of Madhya Pradesh Budget for the small business with turnover up to Rs. 50 the year 2017-2018 was 1,85,564.27 crores. lakh will have to pay a tax of 5 percent. . For Dheendhay Rasoi yojna, Madhya . Estimation of rupees 2,285 crores have been Pradesh Government has allotted 10 crores. allotted for Shahpur Kandi Dam project (joint
project of Punjab and Haryana.) Page 13
Banking Awareness Capsule : March - 2017
. The government of India has directed all the as well as maintaining monthly average banks to make available the mobile banking balance. It is applicable from April 1, 2017. facility for all the customers by March 31, . Cash deposit can be made only 3 times per 2017. month and beyond that an amount of RS. 50 will charged for per transaction. BANKING AWARENESS: . ATM transaction beyond free transaction will be charged RS. 20 per transaction. . Minimum charge of Rs. 150 per transaction . RBI tells that the bank refuse to exchange will be charged by Axis Bank, ICICI bank and soiled or multilateral notes from people will HDFC bank after 4 free transactions. have to pay a penalty of rupees 10,000. . State Bank of India have revised various
service charges on transaction and deposits
Exim Bank : All You Need to Know
With the increase in trade opportunities in the bank has tied up with financial institutions global market and to enhance the country’s under TIEID. domestic competitiveness, a specialised institution . Grassroots Initiatives & Development (GRID) for foreign trade was required. Exim bank was set program – to provide assistance to up for this purpose. Export-Import Bank or Exim enterprises from rural areas of the country, bank of India is the export finance institution of Exim bank supports through GRID program. the country. It was established in the year 1982 From this program, assistance is extended to under the Export-Import Bank of India Act 1981. It small enterprises, NGO’s, artisans across the provides financial assistance to exporters and country helping and encouraging them to importers. It coordinates the institutions which export. provide finance to export and import of goods. . The credit facility is extended to overseas The sole aim is to enhance exports from India as sovereign governments and government- well as to promote country’s international trade owned entities for import of goods and and investment. services from India. . Exim Bank provides assistance to Indian HOW DOES EXIM BANK PROVIDE ASSISTANCE companies in locating overseas distributors /partners /buyers/ for their . It offers finance at all stages of the business products/services. cycle, starting from importing technology, . The Exim Bank introduced a program called product development, marketing, pre- the Export Marketing Fund (EMF), in June shipment and post-shipment to overseas. 1986, under which finance is made available . Technology and Innovation Enhancement to Indian companies for undertaking export and Infrastructure Development (TIEID) – To marketing activities. The program also meet the long-term foreign currency needs covers activities like desk research, minor of Indian exporters from MSME sector, Exim
Page 14
Banking Awareness Capsule : March - 2017
product adaptation, overseas operations and travel to India by buyers overseas.
Functions of Exim Bank:
1. Corporate banking group: 4. Export marketing group:
Corporate banking group handles various Export marketing group provides loans/assistance financing programs for exporters, importers and for exporters (example Indian company) to overseas investment by Indian companies. perform export operations to overseas markets.
2. Project finance/trade finance : 5. Support services group:
Project finance group deals with the services Support services group render services which related to export credit such as pre-shipment include areas of planning, research, corporate credit, suppliers credit. The projects related to the finance, loan recovery, etc. financing of export transactions of the agricultural 6. Small and medium enterprises: sector are also handled by this group. Various lending/ financial assistant programs are 3. Export services group: formed to handle credit proposals from small and Export services group provides services such as medium enterprises (SME). value added information for promoting investments and advisory services.
Board of members:
The Exim bank constitutes of the board of directors with managing director and chairman. Headquarter is located at Mumbai, Maharashtra. Currently, they are 13 members body. The board EXIM MITRA – created by EXIM bank to promote of member consists of: digital India, a one step solution for all export and import needs. It is an online platform to delivery . Representatives of government of India trade related information and provides access to . Reserve bank of India insurance for exporters and importers. . IDBI – Industrial Development Bank of India . ECGC - Export Credit Guarantee Corporation Types of Export Finance of India . Representatives of commercial banks Huge quantities of goods are sold in the form of . Representatives of exports exports in the International Market. These exports . Chairman and managing director require a certain amount of financial assistance
Page 15
Banking Awareness March 2017
50% OFF
Publisher : Faculty Notes Author : Panel Of Experts
Type the URL : http://www.kopykitab.com/product/11152
Get this eBook