Economic Survey 2012 Ch5 - Banking Sector Intermediaries

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1. Prologue
2. Banks and interest rates
3. Rural Banking: Background
Governments action
Timeline: Banking in rural areas
After independence
Why RRB?
How is RRB different from commercial banks?
Rural Infrastructure Development Fund (RIFD)
Financial Inclusion
Swabhimaan scheme
Ultra Small Branches
SHG Bank linkage program
4. Development Banks/AIFI
1.ICICI
2.SIDBI
3.IDBI
4.IFCI
5.IIBI
6.NABARD
7.NHB
Reverse Mortgage product
[Economic Survey Ch5] Financial Intermediaries: Banks, RRBs, NBFCs
(Part 3 of 3)
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E
5. FINANCIAL PERFORMANCE OF BANKS

Capital Adequacy Ratio
NPA: steps taken to reduce it
6. Chindus Budget speech
More cash to NABARD
Multilateral Development banks: Roads in NE
Bank for Women?
Urban housing fund
7. Core Banking Solution (CBS)?
Why is CBS in news?
Why UCBs havent implemented CBS?
8. Conclusion (Chapter 5)
9. Mock Questions
Prologue
In the earlier articles, we saw
What is financial intermediaries? Why are they important for Economy?
Then in part 1 of 3, we saw insurance sector
In part 2 of 3, capital market
In this third and final part, well see the banks and NBFCs.
Banks
What do banks do? They collect deposits from savers and lend it as loan to the
borrowers, and earn Commission in between. Hence theyre one type of financial
intermediaries.
We already know that banks have to invest some of their deposit money in govt.
securities (and high rated corporate bonds) under the statutory liquidity ratio (SLR).
For past few years, this SLR rate has remained steady 23-24%. Yet banks have invested
more than 30% of their deposits in Government securities.
Recall that Government securities are safe investments and if an investment is safe
then it wont give much profit.
So why are the bank investing more money in Government securities, even above the
SLR requirement?
1. because they think it is safer investment (compared to lending it to the likes of
Kingfisher) and or
2. because businessmen are not coming forward to take loans and or
3. Consumers are also not coming forward for getting loans for bike, car, or home loans
(due to inflation).
Interest rate
There are mainly three type of bank account:
Current
Account
Savings
account
Term deposits/Fixed Deposit
Interest paid by
bank
0% 4-6*%
Depends on how long you keep the
money. 6-8*%
These rates change from bank to bank, ^these are just approximate numbers for
illustration.
For banks Current account and savings account (CASA) are most important. Why?
Because on these deposits, bank has to pay very low interest. So if bank gets lot money
from CASA source, and lends it as car/bike/home/business/personal loans @12-18%
=there is big profit margin.
Interest rate change
Deposit rates (bank pays to accounts
holders)
Lending rate (bank charging to loan takers)
RBI controls the interest rates on
foreign currency non-resident account
(FCNR).
In 2011, RBI deregulated the interest
rates on savings deposits.
Still no public sector bank has
increased its savings deposit rate. (they
just offer 4%). Although private sector
banks offer higher.
2012: RBI deregulated the interest rate
on loans given to exporters (in foreign
currency). This was done to improve
the exports.
In 2012-13 period, RBI started reducing
the repo rate and consequently banks
too lowered their loan interest rates a
bit.
Rural Banking: Background
During the British raj and the initial years after independence, the banks (and insurance
companies) only operated in the urban areas. Why?
1. Staff/Manpower: easy availability of educated youth in cities.
2. Urban areas had better availability of electricity, telephone, telegram, railways, office
supplies etc.
3. Customers: Main Target audience of banks and insurance companies= educated middle
class, rich people and businessmen. They live in cities.
4. At that time, Banks and insurance companies were controlled by private players: they
had only one motive=Profit. And city folks have more surplus income compared to
villagers.
Result:
Villagers did not get facility of banking / insurance, and they had to rely on the (evil)
money lender who charged whatever interest rate he wanted to.
Sometimes they paid more money in interest, than the actual principle they had
borrowed.
And thus villagers remained in debt and poverty forever.
Governments action
Over the years, Government certain things to achieve following objectives:
1. To help the villagers get easy loans for buying cows, buffalos, diesel pump sets, seeds,
fertilizers, digging wells and bores in their farms etc.
2. increase the penetration of banking services in rural areas
3. To achieve financial inclusion in rural areas
Timeline: Banking in rural areas
50s Cooperative banks / societies
55 Birth of SBI and ICICI (although not related with rural banking directly)
60s Bank nationalization (first round)
75 Regional rural banks were setup
80s NABAD was setup.+ Bank nationalization (second round)
Early 90s Self Help groups (SHG) and bank linking
Late 90s Kisan Credit Card
Mid-2000s
1. No-frills account
2. Banking Business correspondence Agents (BCA)
3. Interest subvention scheme on crop loans
2011 Swabhiman scheme
Now lets fill in the details
After independence
The structure looked like this (for rural banking)
1. RBI
2. State cooperative banks
3. Central cooperative banks (@District level.) || Urban cooperative banks (in cities and
small towns)
4. Primary Agriculture Credit societies (PCAS) (@village level)
Then came RRB and NABARD.
Why RRB?
1975: Government appointed MM Narsimhan Committee to look into rural banking.
Narsimhan observed that Commercial banks (such as SBI, BoB) have high cost structure
(building, staff etc.) so they prefer to open branches in cities rather than villages-
Because city branches make more profit.
The staff of commercial banks= expert in banking and financial matters but not aware of
the problems of rural people.
On the other hand, the Primary agriculture Cooperative societies have members from
the villagers themselves, so they are more aware of the needs and problems of the
villagers.
Therefore, we need to create a hybrid institution that has positive characters of both
1. Financial strength and expertise of commercial banks) +
2. Grassroot problem awareness of cooperative society).
Thus, Regional rural banks were born.
RRB provides loan and savings facilities to villagers. These villagers include
1. farmers (small and marginal)
2. agri laborers
3. rural artisans
4. rural entrepreneurs
5. cooperative societies
6. primary agriculture credit societies
RRBs are sponsored by Commercial banks.
The Sponsor bank provides training to the staff of Regional rural bank.
The sponsor bank also provides initial capital to setup the regional rural bank.
According to the RRB Act, the paid up capital is Central Government : State Government :
Sponsor bank = 50 : 15 : 35
How is RRB dierent from commercial banks?
Commercial Bank RRB
Area of
operation
Huge. Small.
Whole India (although mainly
concentrated in urban areas
and small towns)
One or a few districts. (rural)
Source of
finance
Savings accounts, fixed
deposit etc.
Borrowing from RBI and other
sources
Borrowing from NABARD, SIDBI.
They also have savings account of
villagers, but it is not sufficient to
cover the loan demands.
Apart from RRBs, villagers also get services from cooperative credit societies,
Microfinance institutions;
Even commercial banks such as SBI also serve the villagers via BCA (Banking
correspondence agents).
And the urban-rural geographical breakup has changed a lot since the birth of RRBs.
(Many places that were villages in 70s have now become small towns).
In this context, it was necessary to consolidate/merge various RRBs- to reduce their
overhead expenses and make them more competitive
Therefore in 2005: Government of India started amalgamation of RRB. So now the
number of RRBs have decreased.
Till 1 January 2013, 22 RRBs had already been amalgamated into 9 RRBs.
Rural Infrastructure Development Fund (RIFD)
Started in mid 90s.
NABARD operates the Rural Infrastructure Development Fund (RIDF).
This fund provides cheap loans to states and state-owned corporations
So they can quickly complete projects related to
1. medium and minor irrigation,
2. soil conservation,
3. watershed management
4. Flood Protection;
5. Forest Development;
6. Cold storage
7. Community Irrigation wells for the village as a whole;
8. Village Knowledge Centres;
9. Desalination plants in coastal areas;
10. Building schools, Anganwadi Centres etc.
11. Building toilet blocks in existing schools, specially for girls
12. Rural Roads, Bridges
13. and other forms of rural infrastructure.
Banks who do not meet their Priority sector lending requirements, provide money to this
rural infrastructure development fund.
Financial Inclusion
Financial inclusion = getting all poor people in the banking, insurance, pension net. So
they dont become victims of evil money lenders who charge 36% compound interest
rates (or even more).
Swabhimaan scheme
Weve already discussed this scheme and Banking business correspondents (BCs) in
earlier article. Click me (http://mrunal.org/2013/01/economy-banking-business-
correspondents-agents-bca-meaning-functions-financial-inclusion-swabhimaan-
common-service-centres-csc.html)
Budget 2012, Chindu Pranab had announced that Swabhimaan would be extended to
habitations with population more than 1,000 in the north-eastern and hilly states and
population more than 1,600 in the plains areas as per Census 2001.
Ultra Small Branches
Ultra small branches (USBs) are being set up in all villages covered through Banking
Correspondence Agents. (Weve already discussed Banking business correspondents in
earlier article. Click me (http://mrunal.org/2013/01/economy-banking-business-
correspondents-agents-bca-meaning-functions-financial-inclusion-swabhimaan-
common-service-centres-csc.html))
These Ultra small branches (USBs) will have a small area of 100-200 sq. feet.
A bank officer will be available here with a laptop on pre-determined days.
The Banking Correspondence agents will offer cash service to villagers (e.g. depositing or
taking out money),
This bank officer (in Ultra small branch) will offer other services, undertake field
verification (for loan applications), and follow up banking transactions.
A total of over 40,000 Ultra small branches (USBs) have so far been set up in the country.
SHG Bank linkage program
Self-Help Group (SHG)-Bank Linkage Programme started in early 90s.
Under this programs, self-help group open savings account in the bank. They get loans for
their projects, deposit money from members (and NGOs earn commission in between).
It is being implemented by
1. commercial banks,
2. regional rural banks (RRBs)
3. Cooperative banks.
Development Banks/AIFI
They can be further classified based on their target audience
Agro Housing Industry Import-export
NABARD National Housing Bank
1. SIDBI
2. IDBI
3. ICICI
4. IFCI
5. IIBI
EXIM bank
Out of ^them, names highlighted in bold (NABARD, NHB, SIDBI, EXIM) = All Indian financial
institutions (AIFI). Rest are development banks.
Industrial Development Bank?
First question: How is industrial development bank different from regular (commercial)
banks such as SBI, PNB etc.?
Industrial
development bank
Commercial Bank
Examples
1. ICICI*
2. IDBI
3. SIDBI (AIFI)
4. IFCI
5. IIBI
Public Sector
1. SBI
2. PNB
3. BoB
Pvt.Sector
1. ICICI*
2. HDFC
Accept
deposit
from
public?
No Yes
Job?
Provide
medium/long term
finance to ONLY
industries.
Provide short/medium/long term finance to
both common men
(car/bike/home/education/personal loans) + to
industries.
*The ICICI started in 1955 to provide finance to industries. In 1994 they also started ICICI
Bank. And in 2002, the original parent (ICICI) was merged with ICICI Bank Ltd.
how do Industrial development banks provide finance to industries?
1. By directly giving loans to a company.
2. By buying shares and bonds of a company.
3. By underwriting new IPOs.
In the beginning, these organizations started as All India financial institutions, their job
was to provide medium / long term finance to companies.
But after the LPG reforms in the 90s, capital market become popular. Now businessmen
had more options to arrange for finance (via IPOs, bonds). So these All India financial
institutions (AIFI) lost their original glamour and government converted them into
Development banks (as per Narsimhan Committees recommendation).
Now only four AIFI left: NABARD, SIDBI, EXIM and NHB. They are regulated by RBI.
In the (part 2 of 3), we had seen that now SIDBI and NHB are allowed to borrow via
external commercial borrowing (ECB) route.
1.ICICI
Full name: Industrial Credit and Investment Corporation of India.
Private sector development bank
Setup in 55. (same year SBI was also born).
2002: Merged it with ICICI Bank ltd.
2.SIDBI
Small industries development bank of India
Started in 1990.
SIDBI helps the micro, small and medium enterprises (MSME).
It provides finance to State Industrial Development Corporation
(SIDC), State finance corporations, Commercial banks, cooperative
banks and regional rural banks. And then those organizations
deliver loans/finance to the ultimate target group (MSME
industries).
Industrial development bank of India
UTI is a subsidiary of IDBI
3.IDBI
It borrows money by issuing bonds (and then lends that money to
industries at a higher interest rate.)
4.IFCI
Industrial finance corp. of India
Setup in 1948: that makes it the first industrial financial institution
in India.
5.IIBI
Industrial investment Bank of India.
6.NABARD
NABARD = National bank for Agriculture and rural development
It was setup in early 80s. (Regional rural banks (RRB) were started
in 75, that means first RRB came and then NABARD came).
It acts as the regulatory authority for cooperative banks and
regional rural banks
NABARD lends it downwards to State cooperative banks (SCB),
Regional Rural banks (RRBs), Microfinance institutions,
cooperative credit societies etc.
Thats how farmers, villagers, cottage/handicraft, self help group
(SHG) get loans at reasonable interest rate.
NABARD operates the Rural Infrastructure Development Fund
(RIFD)
7.NHB
National Housing Bank (NHB)
Started in late 80s
As the subsidiary of RBI
It is the apex institution for housing finance in India (just like how
NABARD is for rural / agri).
Reverse Mortgage product
Launched by National Housing bank.
For senior citizen
The senior citizen can mortgage his house and hell be given monthly income.
He doesnt need to repay loan or pay any EMIs, but when he dies, bank will take over his
house and auction it to recover the loan money. (and if house fetches more than loan
dues, then bank will give that extra money to heirs of the dead person.)
Punjab National bank also has a scheme like that, called PNB Baghban.
FINANCIAL PERFORMANCE OF BANKS
NPA = Non performing asset, in crude term, bank gave loan to someone but he is not
repaying it back on time.
Reasons for rising NPAs
1. current macroeconomic situation in the country;
2. increased interest rates in the recent past;
3. lower economic growth;
4. aggressive lending by banks in earlier good economic times (i.e. prior to 2007). And now
some of those businessmen / salaried individuals are not earning enough due to slow
down, hence unable to repay the loans.
5. Our banks had also loaned to some State electricity boards and airline companies (but
they are not paying back on time) so the banks NPA increased.
6. switchover to system-based identification of NPAs by Public Sector Banks
Capital Adequacy Ratio
A measure of a banks ability to absorb losses.
Formula: value of its capital divided by the value of risk-weighted assets.
To put this crudely : CAR= banks capital / banks risky assets.
A low capital adequacy ratio (CAR) = bank has a limited ability to absorb losses (meaning
bank is more likely to collapse if people start defaulting on their loans.)
High CAR= bank has good ability to absorb losses.
In public sector banks, government of India (GoI) has regularly infused capital to keep
the CAR high. But over the years, GoI too is running low on cash (thanks to fiscal deficit),
so government had formed a committee, and committee recommended that
Government should create a new financial holding company. This company will raise
money from domestic and international sources and then infuse it as equity in public
sector banks.
NPA: steps taken to reduce it
1. SARFAESI act and asset reconstruction companies (ARCs) (already discussed, click me
(http://mrunal.org/2012/12/economy-sarfaesi-asset-reconstruction-company-arc-
security-receipt-sr-qib-drt.html))
2. nodal officers in banks for each Debts Recovery Tribunal (DRT);
3. close watch on NPAs
RBI has also announced the following remedial measures:
1. sanction of fresh loans/ad-hoc loans from 1st Jan 2013 will be made on the basis of
sharing of information among banks;
2. banks will conduct sector- /activity-wise analysis of NPAs;
3. banks will put in place a robust mechanism for early detection of sign of distress,
amendments in recovery laws, and strengthening of loan appraisal and post credit
monitoring.
Chindus Budget speech
Interest subvention scheme
It was started in 2006
Govt. will continue this scheme for 2013-14 also.
Given for short term crop loans
For loan Upto Rs.3 lakh
Time period: 1 year.
Under this scheme, farmer can get loan @7% interest rate.
But if he repays the loan on time, then he will get additional 4% interest subvention.
(meaning loan would cost him 7-4=3% interest rate only.)
So far, the scheme has been applied to loans taken from public sector banks, RRBs and
cooperative banks.
Chindu proposed to extend this scheme to crop loans borrowed from private sector
scheduled commercial banks as well.
In case you wonder WHY? Why is govt. giving 3% interest subversion to farmer who repay
the loans on time? Earlier the interest subvention was 1% (2009), It was increased to 2%
(2010) and 3%(2011).
Because, in 2009, govt. had launched debt waiver scheme. (Meaning farmers didnt have
to repay the loans they had taken earlier.) Govt. say they are doing it to prevent farmers
suicides, but experts believe it was more of an election gimmick.
It hurt the economy in two ways
1. It increased fiscal deficit of the government.
2. The farmers who had been regularly repaying loan, felt cheated. Now they also dont
repay the loans on time, thinking sooner or later govt. would announce another debt-
waiver.
Thus, banks, particularly regional rural banks (RRBs) are facing really hard time recovering
the loan money. Thats why Chindu is doing two things
1. On one hand, he offers additional interest subersion to farmers who repay loans on
time.
2. On the other hand, he is also working for amalgation of RRBs.
More cash to NABARD
Govt. will provide Rs. 5000 crore to NABARD
NABARD will give it as loan for construction of warehouses, godowns, silos and cold
storage units both in the public and the private sectors.
Panchayats can also use this money for construction of godowns to help farmers to
store their produce.
Multilateral Development banks: Roads in NE
These banks operate at international level. They are formed by group of countries.
Examples of MDB= Word Bank, Asian Development Bank (ADB), African development
bank.
Chindu wants to get loan from both World Bank and the Asian Development Bank to
build roads connecting North East India with Myanmar. This will help in our look east
policy and improve the economic prosperity of north eastern States of India.
Bank for Women?
At present, there is no bank that exclusively serves women.
Chindu porposed that we should have have a bank that
1. lends mostly to women and women-run businesses,
2. supports women SHGs and womens livelihood,
3. employs predominantly women,
4. addresses gender related aspects of empowerment and financial inclusion
for this,
MBN Rao committee = theyll prepare the blueprint for the countrys first womens bank.
Govt. shall provide Rs 1,000 crore as initial capital to start this bank.
Chindu hopes RBI will give banking license to this by October, 2013.
Urban housing fund
There is already Rural Housing Fund set up through the National Housing Bank.
In this system, govt. gives cash to NHB. And NHB lends it to other banks operating in
rural areas >> finally those bank lend it to villagers to construct houses.
Chindu has proposed to start similar fund for Urban housing under National housing
bank.
Banking
1. Govt. will provide capital infusion to public sector banks and make sure they meet BASEL
III norms.
2. All scheduled commercial banks and all RRBs are on core banking solution (CBS) and
on the electronic payment systems (NEFT and RTGS).
3. Public sector banks have assured Chindu that well set up ATM in all our branches by the
end of March 2014
4. We are working with RBI and NABARD to bring all other banks, including some
cooperative banks, on CBS and e-payment systems by the end of December 2013.
What is Core Banking Solution (CBS)?
Core banking solution= Bank integrates all of its branches in a single IT network.
Whenever you take out money or deposit money from your account, the database is
updated in the central server directly.
Any branch of the bank, can access this date from the central server.
Thus Core banking solution helps customers to operate their accounts, and avail
banking services from any branch of the Bank on CBS network, regardless of which
branch he had opened the account.
The customer is no more the customer of a Branch. He becomes the Banks Customer.
Thus CBS = Anywhere and Anytime Banking.
You can deposit money in any branch-office, you can give cheque, you can take out
money, you can get your account statement, etc...as long as that branch is part of the
core banking solution.
CBS branch is like a Sales & Service Delivery Center. Internet banking, mobile banking,
ATM are all interconnected in Core banking solution.
Why is CBS in news?
Because of two reasons
#1: Chindus budget speech
All scheduled commercial banks and all RRBs are on core banking solution (CBS) and on
the electronic payment systems (NEFT and RTGS).
We are working with RBI and NABARD to bring all other banks, including some
cooperative banks, on CBS and e-payment systems by the end of December 2013.
#2: RBIs notice to UCB
in March 2013, RBI issued a notice that
Many Urban Co-operative Banks (UCBs) havent implemented the core banking solutions
(CBS) yet. Were giving them deadline: Dec 2013.
If they do not implement core-banking solutions by that time, then we (RBI) could deny
them various approvals (e.g. permission to open new branch etc.)
Why UCBs havent implemented CBS?
All the state-owned commercial banks have implemented CBS system already.
But other Urban cooperative banks at district level are unable do it due Lack of funds
(takes lot of money to setup server, buy licensed softwares, intenet bill etc).
Although RBI maintains that in long term, use of Information technology and CBS will
reduce the cost of operation so its a win-win situation if UCBs implemented the CBS.
Finally, conclusion, summary, what do we get from fifth chapter?
Conclusion
Indian Government started reforming the financial markets under LPG reforms in 90s.
The results of these reforms have been encouraging.
Today, India has one of the most vibrant and transparent capital markets in the world.
But still there are certain challenges before Indian capital market becomes an important
avenue for investors both foreign and domestic.
1) Our corporate sector requires long term funds (@low cost), and
2) we need lot of money for infrastructure project.
To help ^these two, we need three things
1. Well developed Banking systemalready present
2. Well developed equity market.already present.
3. Well developed corporate bond marketyet to develop.
So, Government needs to take policy initiatives for developing a robust corporate bond
market. These policy initiatives include:
1. Need to strengthen the legal, regulatory framework for corporate debt market.
2. Legal regulatory framework for financial products which is new or still in nascent stage
e.g. municipal bonds, credit default swaps.
3. At present our public sector organizations related to pension-insurance sector (LIC,
EPFO) cannot invest lot money in corporate debts. Government needs to relax their
investment guidelines.
Infrastructure development funds (IDF)
IDF are already discussed in earlier article click me (http://mrunal.org/2012/12/economy-
infrastructure-debt-funds-idf-withholding-tax-epfo-angle-meaning-concept-
explained.html)
Infrastructure Development funds will financing the long term infrastructure projects
@cheaper cost.
However, for the IDF to become effective, Government needs to take policy initiatives.
(allowing public sector insurance and pension funds to invest in them).
Financial literacy
Investment will not come just by relaxing the legal/regulatory framework.
You need to encourage people to invest in capital market. (and to prevent them from
investing all their money in gold- because gold purchase increases current account
deficit and creates more problems for Indian economy).
Govt also tried to give the carrot of RGESS. But challenge : much of the target audience
doesnt have PAN card and DEMAT account.
Banks
Banking Laws (Amendment) Act 2012 already discussed click me
(http://mrunal.org/2012/12/economy-banking-amendment-bill-issues-features-
problems-reforms-meaning-explained.html)
This will give more regulatory and supervisory to RBI and
help banks in raising funds from the capital market for expanding their banking
business.
SARFAESI act amendment help banks reduce their NPAs.
Other issues related to RRBs, NABARD etc given in this article itself.
Pension
Pension reforms in India
1. Will facilitate the flow of long-term savings for development
2. Will help establish a credible and sustainable social security system in the country
But challenge: NPS is not popular due to low commission, bill pending in parliament. More
explained earlier, click me (http://mrunal.org/2013/04/economy-new-pension-scheme-
swavalamban-nps-lite-pfrda-meaning-issues.html)
Insurance
Chindu gave revival package.
Challenge: Less insurance penetration, FDI Bill pending in parliament
Mock Questions
1. Correct Chronological order (older to newer)
a. NABARD, RRB, SHG-Bank linking program
b. SHG-Bank linking program, RRB, NABARD
c. RRB, NABARD, SHG-Bank linking program
d. None of Above
2. RRBs are sponsored by
a. NABARD
b. RBI
c. Commercial banks
d. None of Above
3. Correct statement about Priority sector lending (PSL)
a. RBI has mandated that banks should lend maximum 40% of their advances to PSL.
b. As per RBI rules, the Priority sector lending target for foreign banks is higher than
Indian banks.
c. Both A and B
d. None
4. Who benefits from Priority Sector Lending?
a. Small scale industrialist
b. exporter
c. education loan seeker
d. All of above
5. Priority sector lending targets _____
a. Are Uniform for all foreign banks in India
b. Depend on number of branches a foreign bank has.
c. Donot apply to any foreign banks.
d. None of above.
6. Priority sector lending (PSL) target for foreign banks, is decided by
a. Department of Economic affairs
b. NABARD
c. RBI
d. None of above
7. Ultra Small (bank) branches are meant for
a. Army cantonments
b. Near SEZ units
c. Village covered through Banking Correspondence Agents
d. Major and Minor sea Ports
8. The main purpose of Ultra Small (Bank) branches is
a. Provide easy loans to exporters
b. Provide easy loans to importers
c. Achieve financial inclusion
d. None of above
9. Swabhiman scheme is associated with _____ sector.
a. Healthcare
b. Pension
c. Education
d. Banking
10. Swavalamban scheme is associated with _____ sector.
a. Healthcare
b. Pension
c. Education
d. Banking
11. Rural Infrastructure Development Fund is operated by
a. Ministry of Rural affairs
b. Planning commission
c. NABARD
d. None of above
12. Who among the following implements SHG-Bank linkage program?
a. Commercial banks
b. Regional rural banks (RRBs)
c. Cooperative banks.
d. All of above
13. RBI regulates the interest rates on
a. Interest rates on loans given to exporters
b. FCNR
c. Savings deposits
d. None of above
14. Arrange these bank accounts in the ascending order of interest offered to customer
(smaller to bigger)
a. Current, Savings, Term deposit
b. Term deposit, savings, current
c. current, term deposit, savings
d. none of above.
15. What is the similarity between industrial development bank and a commercial bank?
a. Both accept deposits from public
b. both provide short term finance to industries.
c. Both A and B
d. None
16. Which of the following is All India Financial institution
a. SIDBI
b. NABARD
c. NHB
d. All of above
17. first industrial financial institution in India was
a. IFCI
b. ICICI
c. SIDBI
d. UTI
18. National housing bank has launched Reverse mortgage product for benefits
a. Senior citizens
b. students
c. industrialists setting up new colonies
d. None of above
19. Which of the following has not fully implemented core banking solution yet?
a. Scheduled commercial banks
b. Regional rural banks
c. Urban cooperative banks
d. None of above
20. Core banking solution means
a. Bank doesnt sell mutual funds, insurance policies but concentrates on its core
banking operation.
b. Information related to a customers account is stored in a centralized server.
c. Indian bank offering outsourcing services to foreign banks.
d. None of above.
21. For a bank customer, Core banking solution
a. Prevents him from getting services from branches other than his local branch.
b. helps him avail banking services from any branch of his bank.
c. Helps him buy mutual fund and insurance policies via local branch.
d. None of above.
22. Which of the following is an example of NBFC?
a. Infrastructure Finance Companies,
b. Infrastructure Debt Fund
c. Both A and B
d. None
23. correct statement about NBFC-factoring companies
a. Theyre infrastructure companies that help entrepreneur in setting up new factory.
b. Theyve to register themselves with RBI.
c. Both A and B
d. None
24. A gold loan company
a. is an example of NBFC
b. Has to follow the Loan to Value ratio stipulated by SEBI
c. Both A and B
d. None
25. for a bank, low Capital adequacy ratio (CAR) means
a. It has low capacity to absorb losses.
b. It has high capacity to absorb losses.
c. Bank will be exempted from SLR requirement
d. None of above
26. If you have to deposit your savings, which of the following bank is most reliable?
a. Bank with low CAR and low NPA
b. Bank with low CAR and high NPA
c. Bank with high CAR and high NPA
d. Bank with high CAR and low NPA
27. If you have to deposit your savings, which of the following bank is least reliable?
a. Bank with low CAR and low NPA
b. Bank with low CAR and high NPA
c. Bank with high CAR and high NPA
d. Bank with high CAR and low NPA
28. Correct statement
a. A Bank customer doesnt earn interest on current account
b. A Bank doesnt earn interest on CRR
c. Both A and B
d. None
29. Who among the following, will help a bank reduce its NPA?
a. Asset reconstruction company
b. NBFC-factor company
c. Both A and B
d. None
30. Interest subvention scheme
a. was started in 2006 and stopped in 2012
b. is applicable to long term agriculture loans
c. both
d. None
31. Example of Multilateral development bank?
a. SIDBI
b. IDBI
c. ADB
d. None of above
32. Who among the following, is outside the regulatory control of RBI?
a. Urban cooperative banks
b. SIDBI, NHB and EXIM bank
c. Multilateral development banks
d. None of above
33. MBN Rao is to prepare the blueprint for _____
a. GAAR
b. Food security
c. Indias first womens bank
d. Indias first multilateral bank
For more on Economy related articles, visit mrunal.org/economy
(http://mrunal.org/economy)
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R E PL Y ( / 2 0 1 3 / 0 4 / E CONOMI C- S U R VE Y- CH 5 - FI NA NCI A L - I NT E R ME DI A R I E S - B A NK S - R R B S -
NB FCS - PA R T - 3 - OF- 3 . H T ML ? R E PL YT OCOM= 5 1 0 7 9 #R E S POND)
Manish
04.21.2013 AT 2:20 AM (HTTP://MRUNAL.ORG/2013/04/ECONOMI C-SURVEY-CH5-FI NANCI AL-
I NTERMEDI ARI ES-BANKS-RRBS-NBFCS-PART-3-OF-3.HTML/COMMENT-PAGE-1#COMMENT-
51079)
aaj iss article ko bina padhe nahi sounga
thankkyou sir
~
R E PL Y ( / 2 0 1 3 / 0 4 / E CONOMI C- S U R VE Y- CH 5 - FI NA NCI A L - I NT E R ME DI A R I E S - B A NK S -
R R B S - NB FCS - PA R T - 3 - OF- 3 . H T ML ? R E PL YT OCOM= 5 1 0 8 0 #R E S POND)
Manish
04.21.2013 AT 2:38 AM (HTTP://MRUNAL.ORG/2013/04/ECONOMI C-SURVEY-CH5-
FI NANCI AL-I NTERMEDI ARI ES-BANKS-RRBS-NBFCS-PART-3-OF-3.HTML/COMMENT-
PAGE-1#COMMENT-51080)
xlnt work
IITian
51090)
Civils Main exam delayed; scheduled from Dec. 1
http://www.thehindu.com/news/cities/Hyderabad/civils-main-exam-
delayed-scheduled-from-dec-1/article4637451.ece?homepage=true
(http://www.thehindu.com/news/cities/Hyderabad/civils-main-exam-
delayed-scheduled-from-dec-1/article4637451.ece?homepage=true)
~
Bibliophile
04.21.2013 AT 1:03 PM (HTTP://MRUNAL.ORG/2013/04/ECONOMI C-SURVEY-CH5-
I just loved the 5 day concept.Its a good news for working
professionals.One week off and job is done!
mannu
51091)
thankyou sir,the way u write articles i like it..
nav
51094)
switchover to system-based identification of NPAs by Public Sector
Banks?????
~
manukoleth
Switchover to system-based identification of NPA by Public Sector
Banks System-based identification of NPA means Automated-
Computer based identification. Computer-based NPA recognition
removes the subjectivity that the banker may exercise in
classifying a loan as non-performing. So RBI has asked, in 2011,
all subsidiary banks to switch to this system.
~
R E PL Y ( / 2 0 1 3 / 0 4 / E CONOMI C- S U R VE Y- CH 5 - FI NA NCI A L - I NT E R ME DI A R I E S -
B A NK S - R R B S - NB FCS - PA R T - 3 - OF- 3 . H T ML ? R E PL YT OCOM= 5 1 1 6 6 #R E S POND)
nav
04.21.2013 AT 8:23 PM (HTTP://MRUNAL.ORG/2013/04/ECONOMI C-SURVEY-
CH5-FI NANCI AL-I NTERMEDI ARI ES-BANKS-RRBS-NBFCS-PART-3-OF-
3.HTML/COMMENT-PAGE-1#COMMENT-51166)
thank u very much manukoleth
~
bhaz
thanks. have been trying to find out what it meant for a
long time
manu
51101)
bhai
it would be nice if u could finish your economic survey series before
the SBI PO exam ( just a request)
TPK
51102)
thank you bhai
phani
51105)
01.C
02.A
03.B
04.B
05.A
06.C
07.C
08.C
09.D
10.B
11.C
12.D
13.C
14.A
15.B
16.D
17.B
18.A
19.C
20.B
21.B
22.C
23.C
24.A
25.A
26.D
27.B
28.C
29.A
30.D
31.C
32.C
33.C post the comment if answer is wrong..
Mohanbabu
51106)
Very useful
Thanks
Answers
1c
2c
3a
4d
5b
6c
7c
8c
9d
10b
11c
12d
13b
14a
15b
16a
17a
18a
19c
20b
21b
22a
23b
24a
25a
26d
27b
28c
29a
30d
31c
32c
33c
Bibliophile
51111)
What are the BASEL III norms?????
~
SHANDEV
basel- a city is swiz.Its just a regulatory standards for the capital
adequency of the commercial banks..its jst a set of rles so that a
bank can withstand losses..yo can read those rules in Ramesh
singh or just google it..
~
Bibliophile
04.24.2013 AT 12:11 AM (HTTP://MRUNAL.ORG/2013/04/ECONOMI C-SURVEY-
thanks.Appreciate that.
CSN
51112)
The last joke was awesome,its only way congis can allure youth voter
towards it
smit
51117)
c
c
d
d
b
c
c
c
d
b
c
d
b
a
b
d
a
a
c
b
c
c
b
a
a
d
b
c
a
d
d
c
c
Amar
51118)
Thanx mrunal bhai
TRA
51123)
1.c 10.b 19.c 28.c
2.c 11.c 20.b 29.c
3.a 12.d 21.b 30.d
4.d 13.b 22.c 31.c
5.b 14.a 23.b 32.c
6.c 15.d 24.a 33.c
7.c 16.d 25.a
8.c 17.a 26.d
9.d 18.a 27.b
~
Praghu
will NBFC help in reducing NPAs, are u sure in 29th ?
~
TRA
not sure.ostensibly it doesnt.
~
R E PL Y ( / 2 0 1 3 / 0 4 / E CONOMI C- S U R VE Y- CH 5 - FI NA NCI A L -
I NT E R ME DI A R I E S - B A NK S - R R B S - NB FCS - PA R T - 3 - OF- 3 . H T ML ?
R E PL YT OCOM= 5 1 2 7 8 #R E S POND)
Praghu
04.22.2013 AT 8:34 AM (HTTP://MRUNAL.ORG/2013/04/ECONOMI C-
SURVEY-CH5-FI NANCI AL-I NTERMEDI ARI ES-BANKS-RRBS-NBFCS-PART-
3-OF-3.HTML/COMMENT-PAGE-1#COMMENT-51278)
I also think so , bcz , in SARFEASI ACT (recent
amendment), there is no such provision. its ARCs
who participate via QIB.
~
TRA
04.22.2013 AT 5:57 PM
(HTTP://MRUNAL.ORG/2013/04/ECONOMI C-SURVEY-CH5-
FI NANCI AL-I NTERMEDI ARI ES-BANKS-RRBS-NBFCS-PART-3-OF-
definitely not.factoring has nothing to do with
NPAs.genesis of factoring relates to a non
conventional lending spree in tough times in a
vertical different altogether from normal
lending routes).though it helped businesses
mitigate short term liquidity crises,etc etc.
moreover RBI doesnt encourage factoring
business anymore. for ex factoring arm of citi,
sbi are mostly redundant mulling merger.(dont
know their current status,it was in news
sometimes back for NPAs)
also in no way a scheduled comm bank can
approach nbfc factoring for NPAs mitigation.
~
TRA
04.22.2013 AT 7:27 PM
(HTTP://MRUNAL.ORG/2013/04/ECONOMI C-SURVEY-CH5-
FI NANCI AL-I NTERMEDI ARI ES-BANKS-RRBS-NBFCS-PART-3-OF-
*by factoring i meant NBFC factor company and
not factoring per se
~
Murali
3-d
mama
04.21.2013 AT 1:03 PM (HTTP://MRUNAL.ORG/2013/04/ECONOMI C-SURVEY-CH5-FI NANCI AL-
51131)
Thanks for ur contibution..
Answers
A3,14,17,18,24,25
B5,10,13,20,21,23,27
C1,2,6,7,8,11,19,22,28,29,31,32,33
D4,9,12,15,16,26,30
Rohin kotwal
51136)
Gud one sir ji
Ritu Sharma
51141)
Dear Sir,
Is it true that the exam suppose to be held on 28th april is further
postponed to 19th may??
~
Mrunal (http://mrunal.org)
yes that is correct.
i) The SSC Combined Graduate Level Examination 2013, which
was initially scheduled to be held on 14th April, 2013 will now be
held on 19th May, 2013.
ref: sscnr.net.in/newlook/NoticeDetail/Notice15413.aspx
kundan
51143)
excellent job sir hatts off you
Aftab Ahmad Khan
51151)
Dear Sir,
Is it true that the exam suppose to be held on 28th april is further
postponed to 19th may??
or not??
~
thats correct. please see Northern regions website:
http://sscnr.net.in/newlook/NoticeDetail/Notice15413.aspx
(http://sscnr.net.in/newlook/NoticeDetail/Notice15413.aspx)
Aakansha
51156)
reli thankful for this info..
krish
51161)
ccdddcccdbcdbcbdaacbbdddbdbcadccc
Hemant
51344)
thanks mrunal sir
plzz keep helping garib aspirants like us
Krishnam Naidu
51370)
@ Mrunal , U told that NABARD only takes care of RIDF but when u
tabulated banks into different categories U have typed that NABARD
wud b working to cater needs of only AGRO industries . plz explain
love shandilya
51393)
i want 2 ask a question tht under IT ACT SECTION 67,67 A N 68
Publishing or transmitting obscene material in electronic
form./pornography/child pornography LED TO Imprisonment term up
to 5/7 years and fine up to 10 lakh rupees so why porn sites n people
postin such pics not booked under tht???
A random mrunal fan
51428)
hi Mrunal,
I have learnt so much from your articles, specialy economy, that It
wouldve been quite ungrateful on my part to not to thank you I
really appreciate you for doing all the dirty work for us. And I marvel at
your pateince of reading and answering the queries in comments.
PS. Did u know u r a genious?
Sameer
51439)
Thanks Mrunal.. great job..keep posting..:)
Prashant
51686)
1c
2c
3a
4d
5b(http://www.rbi.org.in/scripts/FAQView.aspx?Id=87
(http://www.rbi.org.in/scripts/FAQView.aspx?Id=87))
6c
7c
8c
9d
10b
11c
12d
13b
14d
15d
16d
17a
18a
19c
20b
21b
22c
23b
24a
25a
26d
27b
28c
29a
30d
31c
32c
33c
~
PIRAI
check ur 14th answer
somia1314
51758)
i want to sell my brilliant tutorials mains sociology material. it contain
12 sets of socio wid previous years papers is der any1 interested . can
mail me at snsharma1007@gmail.com
(mailto:snsharma1007@gmail.com).
vinod simha
52158)
1. c
2. a
3. d
4. d
5. b
6. c
7. c
8. c
9. d
10. b
11. c
12. d
13. c
14. a
15. b
16. d
17. a
18. a
19. c
20. b
21. b
22. c
23. c
24. a
25. a
26. d
27. b
28. c
29. c
30. d
31. c
32. c
33. c
Correct me if i am wrong
Suresh
52321)
1. c
2. c
3. d
4. d
5. b
6. c
7. c
8. c
9. d
10. b
11. c
12. d
13. b
14. a
15. d
16. d
17. a
18. a
19. c
20. b
21. b
22. d
23. d
24. d
25. a
26. d
27. b
28. c
29. a
30. d
31. c
32. c
33. c
sunil
52706)
1 c
2 c
3 d
4 d
5 b
6 c
7 c
8 c
9 d
10 b
11 c
12 d
13 b
14 a
15 d
16 d
17 a
18 a
19 c
20 b
21 b
22 c
23 murnal plz give solution
24 murnal plz give solution
26 d
27 b
28 c
29 a
30 d
31 c
32 c
33 c
~
23 only B Theyve to register themselves with RBI.
24 only A it is an example of NBFC.
~
keerti
@ Sunil
Q 3 ans is (A)
~
priti
09.18.2013 AT 12:42 AM (HTTP://MRUNAL.ORG/2013/04/ECONOMI C-SURVEY-
yup its (a) (ref rbi site)
david
52729)
hey mrunal,appreciate your great work. those of us who are unable to
join coaching institute or lacks exposure to various exams are major
beneficiaries. here is a doubt in me whether Vice president of India is a
member of Rajya Sabha. this question was recently asked in CGL.
thanks.
~
monu
vice president is the ex officio chairman of the rajya sabha but
not the member
Simran
53043)
Can you explain NBFCs a little more please? And What are NBFC-factors
which is introduced this year?
totallyRed
53168)
Hi Mrunal,
Can you please write more (here or in a separate article) on NBFCs and
Priority Sector LendingI was not able to find much about them.
Thanks a Ton!
Dc
53290)
What is the correct ans for Q no . 3 and 29 ??????
IS THIS STATEMENT CORRECT
RBI has mandated that banks should lend MAXIMUM 40% of their
advances to PSL.
Abhishek Kumar
56314)
I found the FAQs section on RBI Website Useful
http://www.rbi.org.in/scripts/FAQDisplay.aspx
(http://www.rbi.org.in/scripts/FAQDisplay.aspx)
sandip
56788)
Mrunal sirplz also give the correct answers to the MCQs
Thanks a ton
bb+
57630)
Excellent saab.
SONIYA
58555)
mrunal sir can u plzz put on d answerkey.problem wid few
questions
SONIYA
59010)
mrunal sir can u plzz put on d answerkey.problem wid few
questions
smit
59126)
as per eco survey 2013 in Interest subvention scheme the subvantion
is 3 % not 4%..
please correct me if i am wrong
Kris
79974)
01.C
02.C
03.MRUNAL SIR PLZ GIVE ME ANS TO THIS QUESTION
04.D
05.B
06.C
07.C
08.C
09.D
10.B
11.C
12.D
13.B
14.A
15.D
16.D
17.A
18.A
19.C
20.B
21.B
22.MRUNAL SIR PLZ GIVE ME ANS TO THIS QUESTION
23.B
24.A
25.A
26.D
27.B
28.C
29.A
30.D
31.C
32.C
33.C
~
Kris
@mrunal sir please give me answers to 3rd and 22nd
questionsplease
kris
82647)
sir,
what is priority sector lending for commercial banks with less than 20
branches?
Search b4 asking
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The paid up capital Central Government : State Government : Sponsor
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or not and not whether terrace cultivation is associated with the problem... } [Answerkey]
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26-Sep: Haryana Gr.D (http://www.hprbonline.com/)
18-Sep: Haryana Constbles (http://www.hprbonline.com/)
16-Sep: CISF constables 985 (http://cisf.gov.in/)
06-Sep: Navy SSC (http://nausena-bharti.nic.in/forthcomingOfficer.php)
f
B.COM, HR, MBA
30-Sep: NTPC Company Secretary (http://www.ntpccareers.net/)
19-Sep: Ludhiyana Accounts (http://web.pau.edu/index.php?
18-Sep: Asst., MP Road nigam (http://www.mprdc.nic.in/ADD_dated_20-08-14.pdf)
16-Sep: CA(25),HPCL (http://www.hindustanpetroleum.com/documents/pdf/Rect_Combined_2014.pdf)
16-Sep: HR,Accounts Bihar Nigam (http://www.bmsicl.gov.in/CareerNew.aspx)
11-Sep: GAIL HR (http://www.gailonline.com/)
Q
MEDICS
16-Sep: HPCL Medics2 (http://www.hindustanpetroleum.com/documents/pdf/Rect_Combined_2014.pdf)
15-Sep: Haryana Medical Prof. (http://bpsgmckhanpur.ac.in/recruitment.aspx)
11-Sep: Medics via UPSC (various) (http://upsconline.nic.in/ora/candidate/VacancyNoticePub.php)
$ PARAMEDICS
30-Sep: Chandigarh physio, pharma, diet (http://www.gmch.gov.in/jobs.aspx)
14-Sep: Mevat Medical-various specialists (http://gmcmewat.ac.in/recruitment.php)
05-Sep: ITBP Pharmacist 13 (http://itbpolice.nic.in/)
05-Sep: ITBP Lab Techni. (http://itbpolice.nic.in/)
LEGAL
11-Sep: Haryana Civil Judge (http://hpsc.gov.in/Advertisement/Advertisement No. 6_2014_HCS%28Jud.Br.%29.pdf)
SPECIALISTS
29-Sep: Indore Technical Trainees (http://www.rrcat.gov.in/hrd/Openings/Current_Openings.html)
29-Sep: ASRB assistants 268 (http://asrb.org.in/)
26-Sep: SSC Tech Asst. Karnataka (http://ssckkr.kar.nic.in/)
25-Sep: SSC Tech Asst.(CR) (http://ssc-cr.org/notice_detail.php?noticeID=380)
22-Sep: Chattisgarh law asst. (http://cseb.gov.in/csphcl/recruitment/recruitment.htm)
22-Sep: Chattisgarh Journalism asst.
(http://cseb.gov.in/csphcl/recruitment/LA%20PA%20aug%202014/Publicity%20Assistant/Website_Adv_Pub.Asstt.pdf)
22-Sep: Agro. asst.Dir. (http://asrb.org.in/)
15-Sep: Kochi refinary workmen (http://bharatpetroleum.in/Kochicareers/kochi_career.aspx)
14-Sep: Mumbai dock 548 (http://godiwadabhartee.com/index.php/)
08-Sep: NSRC Sci. (http://www.nrsc.gov.in/Work_With_Us_careers.html)
05-Sep: Fire Spec. Kerala (http://www.vssc.gov.in:8080/RMT285/advtno_285.html)
30-Sep: ICMR Scientists (http://icmr.nic.in/Forms/Download_Forms.html)
08-Sep: Canara Sports Quota (http://www.canarabank.com/English/Scripts/Recruitment.aspx)
30-Aug: Lab Attendent NIFFT Ranchi (http://www.nifft.ernet.in/Advt No 2014_2_Non- teaching Staff.pdf)
05-Sep: RPSC various
(http://rpsc.rajasthan.gov.in/pdf_reports_files/Advt_DyComm_Ass_dril_eng_JrGeophycist_Fishdevoff_310714.pdf)
@ DESKJOBS
26-Sep: Haryana Teachers (http://recruitment-portal.in/HSTSB.htm)
23-Sep: Punjab Steno 269 (http://recruitmenthighcourtchd.com/)
26-Sep: Sonepat Uni.deskjobs (http://www.dcrustm.ac.in/)
22-Sep: Himachal HC clerks (http://hphighcourt.nic.in/pdf/Adv28082014.pdf)
15-Sep: Allahabad PA/Steno (http://www.allahabadhighcourt.in/)
17-Sep: NIT Uttarakhand (http://www.nituk.ac.in/jobs/Advt._No.1__Non_Teaching.pdf)
15-Sep: Kendriya Vidhyalaya Deskjobs, clerks, principals (http://kvsangathan.nic.in/EmployementNotice.aspx)
12-Sep: Allhabad HC Deskjobs (http://www.allahabadhighcourt.in/)
10-Sep: PGIMER deskjobs (http://pgimer.edu.in/PGIMER_PORTAL/PGIMERPORTAL/home.jsp)
08-Sep: NIT Kurukshetra (http://www.nitkkr.ac.in/pagesUI/homePage.jsf?
pageEvent=194&page=content&language=2)
x
FACULTY
08-Oct: NIT Raipur (https://www.recruitment.nitrr.ac.in/)
08-Oct: NIT Trichy (http://www.nitt.edu/home/other/jobs/)
30-Sep: NIT Jaipur 74 (http://mnit.ac.in/)
30-Sep: NIT Goa (http://www.nitgoa.ac.in/uploaded_files/Faculty_advt_28aug14.pdf)
28-Sep: Haryana Teachers' Training (http://recruitment-portal.in/HSTSB.htm)
27-Sep: Agro Kanpur (http://www.csauk.ac.in/announcement.html)
26-Sep: YMCA Faridabad (http://www.sarkarinaukriblog.com/)
22-Sep: Meerut Uni. (http://www.svbpmeerut.ac.in/pages/Jobs.html)
22-Sep: Guj Law Univ. (http://gnlu.ac.in/career.php)
22-Sep: Madras Univ. (http://www.unom.ac.in/index.php?route=administration/announcement)
19-Sep: Agro Ludhiyana (http://web.pau.edu/index.php?
15-Sep: Sarguja Univ. (http://www.sargujauniversity.in/index.php/2-uncategorised/135-university-ecruitment-2014)
14-Sep: Hissar Veterinary (http://luvas.edu.in/recruitment.php)
11-Sep: Ayurvedic Proff (http://upsconline.nic.in/ora/candidate/VacancyNoticePub.php)
05-Sep: Hindi Lecturers 54 (http://recruitment-portal.in/HSTSB.htm)
Q WARNING
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Economic Survey 2012 Ch5 - Banking Sector Intermediaries

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5. FINANCIAL PERFORMANCE OF BANKS

WHYDFACE1 { HappY Teachers DaY sirrr :) } [Answerkey] CSAT-2014: Environment &

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