P K Mohanty Chairman: Committee for conversion of large NBFCs into banks

Shyamala Gopinath Applications for universal banks and small finance banks
Jayant Kumar Dash Digital lending
N S Vishwanathan Urban cooperative banks
T Rabi Sankar RBI Deputy Governor
Jose J. Kattoor Executive Director (ED) of Reserve Bank of India
S Janakiraman Chairman: Group of Advisors to Regulations Review Authority
M Rajeshwar Rao Deputy Governor has been appointed as the Regulations Review Authority
Pradhan Mantri Kisan Maan-dhan Yojana (PM-KMY)
• The Government of India has introduced an old age pension scheme for all
land holding Small and Marginal Farmers (SMFs) in the country, namely,
the “Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY)”, as a
voluntary an contributory pension scheme for the entry age group of 18 to
40 years.
• The Scheme is effective from the 9th August, 2019.
• The PM-KMY is a Central Sector Scheme, administered by the
Department of Agriculture, Cooperation & Farmers Welfare, Ministry of
Agriculture & Farmers’ Welfare, Government of India in partnership
with the Life Insurance Corporation of India (LIC).
• The LIC shall be the Pension Fund Manager and responsible for Pension
pay out.
Pradhan Mantri Kisan Maan-dhan Yojana (PM-KMY)
• Pradhan Mantri Kisan Maan-Dhan Yojana has been started
to provide social security to all landholding Small and
Marginal Farmers in the country.
• Under this scheme, a fixed pension of Rs.3,000/- will be
provided to all eligible small and marginal farmers.
• Those farmers who are of the age of 18 years and above and
upto 40 years are eligible to join the scheme.
• Spouses of the Small and Marginal farmers are also eligible
to join the scheme separately and they will also get separate
pension of Rs.3000/ when they reach the age of 60 years.
Pradhan Mantri Kisan Maan-dhan Yojana (PM-KMY)
Pradhan Mantri Kisan Maan-dhan Yojana (PM-KMY)
• The farmers who have joined the scheme may also leave the
scheme later if they do not wish to continue for any reason.
• Their contributions to the Pension Fund will be returned to
them along with interest.
• In case of unfortunate death of the farmer before retirement
date, the spouse may continue in the scheme by paying the
remaining contributions till the remaining age of the
deceased farmer.
• In case of death of the farmer before retirement date, if the
spouse does not wish to continue, the total contribution made
by the farmer along with interest will be paid to the spouse.
Pradhan Mantri Kisan Maan-dhan Yojana (PM-KMY)
• In case of death of the farmer before retirement date, if there
is no spouse, then total contribution along with interest will
be paid to the nominee.
• If the farmer dies after the retirement date, the spouse will
receive 50% of the pension i.e. Rs.1500 per month as Family
Pension.
 CURRENT RATES
Repo Rate 4.00%
Reverse Repo Rate 3.35%
Marginal Standing Facility Rate 4.25%
Bank Rate 4.25%
CRR 4.00%
SLR 18.00%