FINANCIAL

INSTITUTIONS
IN INDIA
PART – 2

TALK & MOCK

BANKING AWARENESS – DAY 8
- By GOKUL RAJ
1. The first three digit of the MICR Code represents
what?
2. _______ is the amount of liquid assets that is to be
maintained by Individual banks
3. Notice money is the amount lent for a period of
_________ days
4. Incase of a self cheque, who becomes the payee?
5. A cheque which is torn into two or more pieces is
known as?
IRDAI ✓ Headquarters: Hyderabad
Insurance Regulatory Development Authority of ✓ Established: 1999
India
✓ Present Chairman: S C Khuntia
✓ IRDAI is the regulator of insurance and
reinsurance industries in India. Its main aim is
to promote the interests of the policyholders. It
also ensures speedy settlement of genuine
claims and aims to prevent insurance frauds
and malpractices.
LIC ✓ Established : 1956
Life Insurance Corporation of India ✓ Head quarters: Mumbai

✓ Present Chairman: M R Kumar

✓ Largest life insurance company of India. It
offers a wide array of insurance products.
NPCI ✓ Established: 2008
National Payments Corporation of India ✓ Headquarters: Mumbai

✓ Present MD: Dilip Asbe

✓ NPCI is the provider of services like Rupay
Cards, UPI (Unified Payment Interface), BHIM ,
IMPS (Immediate Payment Service), BBPS
(Bharat Bill Payment System), AEPS (Aadhar
Enabled Payment System)
CDSL ✓ Established: 1999
Central Depository Services Limited ✓ Headquarters: Mumbai

✓ Present Chairman: Nehal Vora

✓ Central Depository Services (India) Limited
(CDSL) is a leading securities depository,
promoted by BSE Ltd. CDSL facilitates holding
and transacting in securities in the electronic
form and facilitates settlement of trades on
stock exchanges. These securities include
equities, debentures, bonds, units of mutual
funds, AIFs, certificate of deposits, commercial
paper, Government securities and Treasury
Bills.
NSDL ✓ Established: 1996
National Securities Depository Limited ✓ Headquarters: Mumbai

✓ Present MD: Mr. Gagan Rai

✓ One of the largest depositories in the world. It
handles most of the securities held and settled
in dematerialized form in the Indian capital
market.
CERSAI ✓ Established: 2011
Central Registry of Securitization Asset ✓ Headquarters: New Delhi
Reconstruction and Security Interest
✓ Present MD and CEO: Praveen Kumar Sharma
✓ CERSAI is a central online mortgage registry of
India which maintains all mortgages in India. It
was primarily created to check mortgage
frauds in which people took multiple loans on
same assets from different banks.
PFRDA ✓ Established: 2003
Pension Fund Regulatory Development Authority ✓ Headquarters: New Delhi

✓ Present Chairman: Supratim Bandyopadhyay.

✓ PFRDA is the regulator of National Pension
System subscribed by employees of Govt. of
India, State Governments and by employees of
private organizations & unorganized sectors..
The PFRDA is ensuring the orderly growth and
development of pension market.
NIBM ✓ Established: 1969
National Institute of Bank Management ✓ Headquarters: Pune

✓ Present Chairman: RBI governor

✓ It is an autonomous apex institution, playing
the role of "think-tank" of the banking system.
It is an institution for research, training and
consultancy in banking and finance.
EPFO ✓ Established: 1952
Employees Provident Fund Organization ✓ Headquarters: New Delhi

✓ Central Provident Fund Commissioner: Sunil

Barthwal
✓ It is a statutory body of GOI under the
"Ministry of Labour & Employment". It
administrates the compulsory contributory
provident fund scheme, pension scheme and
Insurance Scheme.
 – BY
GOKUL RAJ

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