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Banking Awareness Notes by Banking Teacher Das Sir, Kolkata (09038870684)
Banking Awareness Notes by Banking Teacher Das Sir, Kolkata (09038870684)
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Ans The remitting bank transmits the funds transfer message to RBI so as
to reach NCC, before the cut off time for the settlement, the receiving
banks account is credited by RBI at the destination centre and beneficiary
gets credit on the same day.
Q.4. How does the RBI EFT system operate?
Ans Step-1: The remitter fills in the EFT Application form giving the
particulars of the beneficiary (city, bank, branch, beneficiarys name,
account type and account number) and authorises the branch to remit a
specified amount to the beneficiary by raising a debit to the remitters
account.
Step-2: The remitting branch prepares a schedule and sends the duplicate
of the EFT application form to its Service branch for EFT data preparation.
If the branch is equipped with a computer system, data preparation can be
done at the branch level in the specified format.
Step-3: The Service branch prepares the EFT data file by using a software
package supplied by RBI and transmits the same to the local RBI (National
Clearing Cell) to be included for the settlement.
Step-4: The RBI at the remitting centre consolidates the files received from
all banks, sorts the transactions city-wise and prepares vouchers for
debiting the remitting banks on Day-1 itself. City-wise files are transmitted
to the RBI offices at the respective destination centres.
Step-5: RBI at the destination centre receives the files from the originating
centres, consolidates them and sorts them bank-wise. Thereafter, bankwise remittance data files are transmitted to banks on Day 1 itself. Bankwise vouchers are prepared for crediting the receiving banks accounts the
same day or next day.
Step-6: On Day 1/2 morning the receiving banks at the destination centres
process the remittance files transmitted by RBI and forward credit reports
to the destination branches for crediting the beneficiaries accounts.
Q.5. How is this RBI EFT System an improvement over the existing
facilities?
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Ans The primary modes of funds transfer at present are demand draft, mail
transfer and telegraphic transfer. The demand draft facility is paper based.
The remitter, after purchasing demand draft from a bank branch,
dispatches the same by post/courier to the beneficiary. The beneficiary, in
turn, lodges the draft to his/her bank for collection and clearing. The time
taken for completing the process is about 10 days. In the case of
telegraphic transfer, fund reaches the beneficiary either on the same day or
the next; but both the remitter and the beneficiary would have to be account
holders of the same bank. If they are customers of different banks, a good
deal of paper processing is required. On the other hand, RBI EFT system is
an inter-bank oriented system. RBI acts as an intermediary between the
remitting bank and the receiving bank and effects inter-bank funds transfer.
The customers of banks can request their respective branches to remit
funds to the designated customers irrespective of bank affiliation of the
beneficiary.
Q.6. Any limit on the amount of individual transaction?
Ans There is no value limit for individual transactions.
Q.7. What is the procedure for acknowledgment? How would the
sending branch know that the remitted amount has been credited to
the beneficiary?
Ans The receiving branch acknowledges every transaction it receives after
crediting the beneficiarys account. The acknowledgment particulars reach
the remitting branch as an inward message on Day 3 of the EFT
processing cycle. The remitting branch will, therefore, have precise
information as to when the beneficiarys account was credited.
Q.8. Is it necessary for all branches to install computer system?
Ans No. It is not necessary for all branches to have computer systems.
Branches can send the remittance details to their service branch in paper
format (the copies of the EFT Application Forms submitted by the remitting
customers accompanied by a Remittance Scroll). The Service branch will
make data entry and transmit the funds transfer information electronically to
local NCC. But, if a branch has computer facility, it can transmit funds
transfer information electronically to its service branch either on a floppy or
through a network. This would minimise the data entry work at the service
branch.
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market has deep roots with this black money. Black money creates
parallel economy. It puts an adverse pressure on equitable distribution
of wealth and income in the economy.
Blue Chip
It is concerned with such equity shares whose purchase is extremely
safe. It is a safe investment. It does not involve any risk.
Blue Collar Jobs
These Jobs are concerned with factory. Persons who are unskilled and
depend upon manual jobs that require physical strain on human muscle
are said to be engaged in Blue Collar Jobs. In the age of machinery, such
Jobs are on the decline these days.
Brain-Drain
It means the drift of intellectuals of a country to another country.
Scientists, doctors and technology experts generally go to other
prominent countries of the world to better their lot and earn huge
sums of money. This Brain-Drain deprives a country of its genius and
capabilities.
Bridge Loan
A loan made by a bank for a short period to make up for a temporary
shortage of cash. On the part of borrower, mostly the companies for
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period of a year or even for several years allocating capital outlays for
the various investment projects. In other words, it is the process of
budgeting capital expenditure by means of an annual or longer period
capital budget.
Capital-labour Ratio
Latest models of machinery and equipment raise the labour efficiency
and the output is maximized. Capitallabour ratio is the amount of
capital against the given labours that a firm employs. Capital-labour
ratio is the ratio of capital to labour.
Capital Market
Capital market is the market which gives medium term and long term
loans. It is different from money market which deals only in short term
loans.
Capitalism
Capitalism is an economic system in which all means of production are
owned by private individuals Selfprofit motive is the guiding feature for
all the economic activates under capitalism. Under pure capitalism
system economic conditions are regulated solely by free market forces.
This system is based on Laissez-faire system i.e., no state intervention.
Sovereignty of consumer prevails in this system. Consumer behaves like
a king under capitalism.
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Clearing Bank
Clearing bank is one which settles the debits and credits of the
commercial banks. Even of the cash balances are lesser, clearing bank
facilitates banking operation of the commercial bank.
Clearing House
Clearing house is an institution which helps to settle the mutual
indebtedness that occurs among the members of its organisation.
Closed Economy
Closed economy refers to the economy having no foreign trade (i.e.,
export and import). Such economies depend exclusively on their own
internal domestic resources and have
no dependence on outside world.
Collusion
Producers of an industry reduce competition among themselves to
raise their profits. They fix the price themselves with a clear
understanding in this regard. This understanding among different firms
is called collusion.
Coinage
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Art and practice of making coins is called coinage. The metal is melted
and moulded to shape into a coin. The coinage is a medium of
exchange (money).
Collectivism
Collectivism is a belief that nation's interest is superior to individual
interest. This is the collective thinking of the society and polity national
leaders and also communist opine the theory of collection.
Commercial Bank
Commercial Bank is an institution of finance. It deals with the banking
services through its branches in whole of the country. Operation of
current accounts, deposits, granting of loans to individuals and
companies etc. are various functions of the commercial bank.
CommunismCommunism is a political and economic system in which
the state makes the major economic decision State owns the bulk of
capital assets. Responsibility for production and distribution lies with
the state in this system.
Core SectorEconomy needs basic infrastructure for accelerating
development. Development of infrastructure industries like cement,
iron and steel, petroleum, heavy machinery etc. can only ensure the
development of the economy as a whole. Such industries are core
sector industries.
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Corporation Tax
It is a tax on company's profit. It is a direct tax which is calculated on
profits after interest payments and allowance (i.e., Capital allowance)
have been deducted but before dividends are allowed for.
Cost-push InflationIt arises due to an increase in production cost. Such
type of inflation is caused by three factors : (i) an increase in wages, (ii)
an increase in the profit margin and (iii) imposition of heavy taxation.
Credit RationingCredit rationing takes place when the banks
discriminates between the borrowers. Credit rationing empowers the
bank to lend to some and to refuse to lend to others. In this way credit
rationing restricts lending on the part of bank.
Credit SqueezeMonetary authorities restrict credit as and when
required. This credit restriction is called credit squeeze. Monetary
authorities adopt the policy of credit squeeze to control inflationary
pressure in the economy.
Custom DutyCustom duty is a duty that is imposed on the products
received from exporting nations of the world. It is also called protective
duty as it protects the home industries.
Cyclical UnemploymentIt is that phase of unemployment which
appears due to the occurrence of the downward phase of the trade
cycle. Such an employment is reduced or eliminated when the business
cycle turns up again.
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Dear Money
Dear money is that money which can only be borrowed at a high rate of
interest. In dear money policy, bank rate and other rates of interest are
high and as a result borrowing becomes expensive. Dear money policy
is deliberate policy which is adopted by the monetary authorities to
check inflation in the economy.
Death Duty
It is a direct tax which is imposed on the estate of deceased person.
Death duty or Death Tax is a form of personal tax on property which is
levied when property passes from one person to other at the time of
death of the former.
Death Rate
Death rate signifies the number of deaths in a year per thousand of the
population. It is mostly known as crude death rate. Life expectancy is
important determinant of death rate.
A country having high life expectancy will have a high crude death rate.
DecentralisationDecentralisation means the establishment of various
unit of the same industry at different places. Large scale organisation or
industry can not be run at one particular place or territory. In order to
increase the efficiency of the industry, various units at different places
are located.
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(GNP).
Gross National Product (GNP)
It refers to the money value of total output or production of final goods
and services produced by the nationals of a country during a given
period of time, generally a year.
Gross National Product Deflator
It is a Price Index Number used to correct the money value of Gross
National Product (GNP) for price changes so as to isolate the changes
which have taken place in the physical output of goods and services.
Guild Socialism
This form of socialism accepts the leadership of artisans. The operation
of the whole economy specially the management and control of
industries lies in the hands of artisans Socialism established by artisans
is termed a Guild Socialism.
HDI
HDI (Human Development Index) is a composite index measuring
average achievement in three basic dimensions of human lifea long
and healthy life, knowledge and a decent standard of living.
Import Duty
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When a sector is jointly owned, managed and run by both public and
private sector, it is called joint sector. This sector indicates the
partnership between the two i.e., public and private sector.
Labour Union
Labour union represents that organisation of workers which works for
improving working condition of labours and also for raising their wage
by adopting collective bargaining measures with the management of
the industry in particular.
Laffer Curve
This curve is given by American economist Prof. Arthur Laffer. It
represents relationship between total tax revenue and corresponding
tax rates.
Laissez Faire
It is a French word meaning non-interference. This doctrine was
popularised by classical economists who gave the view that
government should interfere as little as possible in the economic
activities of the individuals.
Life Expectancy at Birth
The number of years a newborn infant would live if prevailing pattern
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of age specific mortality rates at the time of birth were to stay the same
throughout the childs life.
Liquidation
It refers to the termination (or winding up) of a registered company.
Liquidation takes place because of company's insolvency. In liquidation,
assets are turned into cash for settling outstanding debts and for
apportioning the balance, if any, amongst the owners.
Liquidity
Assets which can easily be converted into cash money are said to have
liquidity. Land does not possess liquidity at it takes longer time to get
converted into cash.
Liquidity Ratio
The commercial banks under banking regulations have to maintain a
certain specified proportion of their total deposits of various categories
in liquid assets. This maintainable proportion is called liquidity ratio.
Lock-out
Lock-out refers to such a situation when the management does not
permit the workers to work unless they agree to accept the employer's
term. Lock-out is the closing of work by the management for an
uncertain period of time to put pressure on the labour union. It is an
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Those assets are quick assets which are liquid or nearly liquid in nature
and easily be turned into cash.
Quoted Company
That company is called quoted company whose share prices are quoted
on a stock exchange.
Reflation
It signifies general increase in the level of business activity in the
economy. Reflation generally involves greater government expenditure
and the easing of credit to encourage increased production.
Regressive Tax
It is a tax in which rate of taxation falls with an increase in income. In
regressive taxation incidence falls more on people having lower
incomes than that of those having higher incomes.
Repressed Inflation
It is a state in which aggregate demand is greater than the total supply
of goods and services in an economy, but prices are prevented from
rising to eliminate excess demand. The holding down of price is
sometimes done by government as a means of suppressing inflation.
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Share Capital
It is the amount of money raised by a company by issuing shares. The
authorized share capital is the amount that a company is allowed to
issue as laid down in its Articles of Association. The issued share capital
is the amount actually issued i.e., the number of issued shares
multiplied by their par value. Fully paid share capital is the amount
raised by payment of the full par value of the issued shares.
Single Tax System
It is a system in which all tax revenues are raised from one form of
taxation.
Socialism
The political doctrine that the means of production (machines,
materials and output) should be owned by society and specifically
either by the state, as in the case of nationalized industries or by the
workers directly, as in the case of producer co-operatives.
Social SecurityProvision by the state out of taxation of welfare
assistance to those in need as a result of illness, unemployment, or old
age compare national insurance refers to social security.
Soft CurrencyA currency with limited convertibility into gold and other
currencies, either because it is depreciating due to balance of payments
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with the correct details and a verifiable signature could act as a cheque.
Even an elephant was once used!
Cheque Clearing This is the process of getting the money from the
cheque-writers account into the cheque receivers account.
CHIP and P IN A Chip is a small electronic insert placed into a
cheque or credit card. The PIN is a four digit personal identification
number which is used with the card by the card-holder.
Clearing Bank This is a bank that can clear funds between banks. For
general purposes, this is any institution which we know of as a bank or
as a provider of banking services.
Contract Hire This is a way of hiring an item of large capital value
where the maintenance is the responsibility of the company that hires out
the item. A fixed monthly figure is paid and the item can be sold, usually
to an unconnected third party.
Credit Rating This is the rating which an individual (or company)
gets from the credit industry. This is obtained by the individuals credit
history, the details of which are available from specialist organisations
(Equifax and Experian are the two big operators in the U.K.
www.equifax.co.uk and www.experian.co.uk).
Credit Scoring This is the process of assessing an individuals creditworthiness. The process involves taking information from an individual
on an application form (for example when applying for a store card) and
weighting the answers given. Certain responses will attract higher scores
than others and the total score will determine whether or nor the
organization wants to do business with the individual, or if they
represent too high a credit risk.
Credit-Worthiness This is the judgement of an organization which is
assessing whether or not to take a particular individual on as a customer.
An individual might be considered credit-worthy by one organisation but
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of the credit held in other accounts, which reduces the amount that is
being borrowed.
Overdraft This is when a person has a minus figure in their account. It
can be authorized (agreed to in advance or retrospect) or unauthorized
(where the bank has not agreed to the overdraft either because the
account holder represents too great a risk to lend to in this way or
because the account holder has not asked for an overdraft facility).
Payee The person who receives a payment. This often applies to
cheques. If you receive a cheque you are the payee and the person or
company who wrote the cheque is the payer.
Payer The person who makes a payment. This often applies to
cheques. If you write a cheque you are the payer and the recipient of the
cheque is the payee.
PEP Personal Equity Plans have been replaced by ISAs. Existing
PEPs can be retained but, since April 1999, no new ones can be opened.
Phishing This is when a criminal uses the internet to try to
fraudulently obtain details of peoples accounts so that they can use these
accounts themselves, usually to take money out of.
Repayment mortgage This is a mortgage where the sum borrowed is
paid off by the end of the mortgage term. It involves monthly
repayments which consist of the interest on the loan plus some of the
capital borrowed.
Security for Loans Where large loans are required the lending
institution often needs to have a guarantee that the loan will be paid
back. This takes the form of a large item of capital outlay (typically a
house) which is owned or partly owned and the amount owned is at least
equivalent to the loan required.
Standing Order A regular payment made out of a current account
which is of a set amount and is originated by the account holder.
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E-banking refers to electronic banking. It is like e-business in banking industry. Ebanking is also called as "Virtual Banking" or "Online Banking".
E-banking is a result of the growing expectations of bank's customers.
E-banking involves information technology based banking. Under this I.T system,
the banking services are delivered by way of a Computer-Controlled System. This
system does involve direct interface with the customers. The customers do not
have to visit the bank's premises.
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8. Internet Banking,
9. Telephone Banking, etc.
Advantages of E-Banking
The main advantages of E-banking are :1. The operating cost per unit services is lower for the banks.
2. It offers convenience to customers as they are not required to go
to the bank's premises.
3. There is very low incidence of errors.
4. The customer can obtain funds at any time from ATM machines.
5. The credit cards and debit cards enables the Customers to obtain
discounts from retail outlets.
6. The customer can easily transfer the funds from one place to
another place electronically.
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ii. Any asset, including a leased asset, becomes non performing when it ceases to
generate income for the bank.
However, there is a prescribed definition by the RBI which defines the NPAs as:
i. Terms Loans on which interest and / or installment of principal remain overdue for a
particular quarter for a period of more than 90 days from the end of that particular
quarter.
ii. The Bills those remain overdue for a period of More than 90 Days from the end of a
quarter.
iii. Any amount to be received remains overdue for a period of more than 90 days.
iv. The Cash Credit account remains out of order for a period of more than 90 days. Out
of order means over the sanctioned limit.
5. Investment through P-Notes hits 3-month high of $26 billion
i. As per share market regulator SEBI, investments into Indian shares through
participatory notes (P-Notes), hit a three-month high of Rs 1.65 lakh crore (about $26
billion) in August 2013.
Participatory Notes or P-notes are derivative instruments, used by Foreign
Institutional Investors (FIIs) who are NOT registered with SEBI.
i. The major characteristics of P-notes are:
ii. They are derivative instruments
iii. They are used by Foreign Institutional Investors (FIIs) who are NOT registered with
SEBI.
iv. They are used on Indian shares, but at a location outside of India.
Note: This means that the FIIs who are not registered with SEBI but wish to take
exposure in the Indian securities markets can use P-notes.
ii. P-Notes, mostly used by overseas HNIs (High Networth Individuals), hedge funds
and other foreign institutions, allow them to invest in Indian markets through registered
Foreign Institutional Investors (FIIs), while saving on time and costs associated with
direct registrations.
iii. Brokers buy or sell securities on behalf of their clients on their proprietary account
and issue such notes in favor of such foreign investors.
6. Moodys cuts 2013-14 GDP growth forecast to 4.5%
i. Moodys has lowered its outlook for India's GDP growth to 4.5 per cent for 2013-14
from 5.5 per cent.
ii. This reflects the recent depreciation of the rupee, which will exacerbate inflationary
pressures, keep domestic interest rates relatively high, and hinder a recovery in
domestic demand growth
Moodys lowers SBIs debt rating
i. Global rating firm, Moodys Investors Service, has downgraded State Bank of Indias
senior unsecured debt and local currency deposit ratings to Baa3 or lowest investment
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grade rating from Baa2 and altered the outlook on SBIs financial strength rating
to negative from stable as the economic slowdown impacts banks credit quality.
Why did Moodys downgrade SBIs rating?
i. As per rating agency, the combination of mounting pressure on credit fundamentals
and the ongoing dependence on the fiscally constrained Indian government to maintain
Capital Adequacy Ratio (CAR) are key players behind the rating downgrade at a level
no higher than the sovereign.
7. Fitch slashed Indias growth projection
i. Global rating agency Fitch has scaled down its pro jections on Indias growth to 4.8%
for the current fiscal from the earlier estimate of 5.7% made in June, 2013.
The following are the key reasons behind the cut in growth projections
i. Weak Indian currency against dollar
ii. Expanding Current Account Deficit (CAD) on account of rising crude prices and falling
rupee
iii. Weak demand
8. White-label ATM Indicash ATMs opened in Mysore
i. Tata Communications Payment Solutions Ltd (TCPSL), a wholly owned subsidiary of
Tata Communications Ltd, today inaugurated Indicash ATMs in Mysore.
ii. The company simultaneously launched more than five ATMs across Mysore.
iii. TCPSL is planning to deploy a mi nimum of 1,000 Indicash ATMs in Karnataka, a
region which plays a vital role in the companys rollout plans of 15,000 Indicash ATMs
across India over the next three years.
Note: The companys first white-label ATM was launched at Chandrapada village
in Thane district on June 27. This is in keeping with the Reserve Bank of Indias vision
to accelerate growth and improve ATM penetration across the country.
9. What is Financial Stability Board (FSB)?
i. FSB is an international body which was established after the 2009 G-20 London
summit in April 2009 as a successor to the Financial Stability Forum.
ii. FSB work is to coordinate at the international level the work of national financial
authorities and international standard-setting bodies and to develop and promote the
implementation of effective regulatory, supervisory and other financial sector policies.
iii. The Board includes all G-20 major economies, FSF members, and the European
Commission. It is headquartered in Basel, Switzerland.
Note: The Reserve Bank of India (RBI), the Securities and Exchange Board of India
(SEBI) and the Ministry of Finance are the members of FSB from India.
10. China launches its first direct bank
i. China launched its first direct bank, a new mode of providing online
banking services without any entity outlets.
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ii. The direct bank has been launched by the Bank of Beijing in co-operation with
the Netherlands-based ING Group.
Note: i. A direct bank is a bank without any branch network that offers its services
remotely via online banking and telephone banking and may also provide access
via ATMs (often through interbank network alliances), mail and mobile.
ii. By eliminating the costs associated with bank branches, direct banks can make
substantial savings which they may pass on to clients via higher interest rates or
lower service charges.
11. Nachiket Mor panel to study financial services for small businesses
i. The Reserve Bank of India has set up a committee headed by Nachiket Mor on
comprehensive financial services for small businesses and low-income households.
ii. The committee has been asked to come out with a set of design principles that will
guide the development of institutional frameworks,
iii. The committee has also been asked to develop a comprehensive monitoring
framework to track progress of the financial inclusion and deepening efforts on a
nationwide basis.
iv. It will review existing strategies and develop new ones that address specific barriers
to progress and that encourage participants to work swiftly towards achieving full
inclusion and financial deepening, consistent with the design principles.
12. Mayaram submits report on NSEL
i. A high- level panel, headed by Economic Affairs Secretary Arvind Mayaram, submitted its
report to Finance Minister P. Chidambaram on the alleged irregularities at the National Spot
Exchange Ltd (NSEL).
ii. Panel was set up in August 2013 to look into the 5600 crore Rupees payment crisis
at the Financial Technologies-promoted NSEL. Secretaries from the Union Corporate
Affairs and the Union Consumer Affairs Ministries, the Revenue Department, and head
of Enforcement Directorate, are part of the committee.
iii. The report was finalised based on the reports of two working group from
Enforcement Directorate and Reserve Bank.
iv. NSEL is grappling with a payment crisis for settling dues worth 5600-crore Rupees
and had to suspend trading activities on 31 July 2013 following a government directive.
About National Spot Exchange Limited (NSEL)
i. National Spot Exchange Limited (NSEL) is the national level, institutionalized,
electronic, transparent spot trading platform for commodities.
ii. It is a structured market place, set-up to transform the commodity market by way of
reducing the cost of intermediation and thereby improving marketing efficiency. Its state of-the-art technology facilitates risk free and hassle free purchase and sale of various
commodities.
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iii. They are used by Foreign Institutional Investors (FIIs) who are NOT registered with
SEBI.
iv. They are used on Indian shares, but at a location outside of India.
Note: This means that the FIIs who are not registered with SEBI but wish to take
exposure in the Indian securities markets can use P-notes.
ii. P-Notes, mostly used by overseas HNIs (High Networth Individuals), hedge funds
and other foreign institutions, allow them to invest in Indian markets through registered
Foreign Institutional Investors (FIIs), while saving on time and costs associated with
direct registrations.
iii. Brokers buy or sell securities on behalf of their clients on their proprietary account
and issue such notes in favor of such foreign investors.
16. Moodys cuts 2013-14 GDP growth forecast to 4.5%
i. Moodys has lowered its outlook for India's GDP growth to 4.5 per cent for 2013-14
from 5.5 per cent.
ii. This reflects the recent depreciation of the rupee, which will exacerbate inflationary
pressures, keep domestic interest rates relatively high, and hinder a recovery in
domestic demand growth
Moodys lowers SBIs debt rating
i. Global rating firm, Moodys Investors Service, has downgraded State Bank of Indias
senior unsecured debt and local currency deposit ratings to Baa3 or lowest investment
grade rating from Baa2 and altered the outlook on SBIs financial strength rating
to negative from stable as the economic slowdown impacts banks credit quality.
Why did Moodys downgrade SBIs rating?
i. As per rating agency, the combination of mounting pressure on credit fundamentals
and the ongoing dependence on the fiscally constrained Indian government to maintain
Capital Adequacy Ratio (CAR) are key players behind the rating downgrade at a level
no higher than the sovereign.
17. Fitch slashed Indias growth projection
i. Global rating agency Fitch has scaled down its projections on Indias growth to 4.8%
for the current fiscal from the earlier estimate of 5.7% made in June, 2013.
The following are the key reasons behind the cut in growth projections
i. Weak Indian currency against dollar
ii. Expanding Current Account Deficit (CAD) on account of rising crude prices and falling
rupee
iii. Weak demand
18. White-label ATM Indicash ATMs opened in Mysore
i. Tata Communications Payment Solutions Ltd (TCPSL), a wholly owned subsidiary of
Tata Communications Ltd, today inaugurated Indicash ATMs in Mysore.
ii. The company simultaneously launched more than five ATMs across Mysore.
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Finance Commission
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Unit Banking
The Unit Banking System is that system of banking under which an individual
bank carries on banking business either through a single office or through a few
offices operating with a limited area. In this system, independent, isolated units
perform banking business. The size of operation of Unit Banking are much smaller
when compared to branch banking. Unit banking system originated in the USA.
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