Banking Awareness Capsule !!
By GovJobAdda, Bengaluru 1 year ago 8739 Views
Gross National Product (GNP):
Gross National Product (GNP) is Gross Domestic Product (GDP) plus net factor income from abroad.
GNP measures the monetary value of all the finished goods and services produced by the country's factors of production irrespective of their location. Only the finished or final goods are considered as factoring intermediate goods used for manufacturing would amount to double counting. It includes taxes but does not include subsidies.
Know Your Customer (KYC):
Know your customer (KYC) is the process of a business identifying and verifying the identity of its clients. The term is also used to refer to the bank and anti-money laundering regulations which governs these activities.
Real Time Gross Settlement (RTGS):
Real Time Gross Settlement (RTGS) is an electronic form of funds transfer where the transmission takes place on a real time basis. In India, transfer of funds with RTGS is done for high value transactions, the minimum amount being Rs 2 lakh.
National Electronic Money Transfer (NEFT):
National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the Reserve Bank of India (RBI). Started in November 2005,NEFT is a facility enabling bank customers in India to transfer funds between any two NEFT-enabled bank accounts on a one-to-one basis. It is done via electronic messages.
Interbank Mobile Payment Service (IMPS) or Immediate Payment Service:
Immediate Payment Service (IMPS) is an instant real-time inter-bank electronic funds transfer system in India. IMPS offers an inter-bank electronic fund transfer service through mobile phones. Unlike NEFT and RTGS, the service is available 24/7 throughout the year including bank holidays.
Unique Identification Development Authority of India (UIDAI):
Unique Identification Authority of India (UIDAI), is an agency of the Government of India responsible for implementing the AADHAAR scheme, which aims to provide a unique identification number for all residents of India.
International Bank For Reconstruction And Development (IBRD):
The International Bank for Reconstruction and Development (IBRD) is an international financial institution that offers loans to middle-income developing countries.
Foreign Portfolio Investment (FPI):
In economics, foreign portfolio investment is the entry of funds into a country where foreigners deposit money in a country's bank or make purchases in the country’s stock and bond markets, sometimes for speculation.
Bank for International Settlements (BIS):
The Bank for International Settlements (BIS) is an international financial institution owned by central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks".
Banking Codes and Standards Board of India (BCSBI):
The Banking Codes and Standards Board of India (BCSBI) is an independent banking industry watchdog that protects consumers of banking services in India.
Capital to Risk-weighted Assets Ratio (CRAR):
Capital Adequacy Ratio (CAR) is also known as Capital to Risk (Weighted) Assets Ratio(CRAR),is the ratio of a bank's capital to its risk. National regulators track a bank's CAR to ensure that it can absorb a reasonable amount of loss and complies with statutory Capital requirements.
How to increase concentration when you are preparing for competitive exams ?
A student on Quora asked me a very important question today. It was about increasing concentrat...
RRB Group D 18th September 2018 1st Shift Analysis
Today is the second day of Railways Group D exam. The first shift has come to an end...
RRB Group D 18th September 2018 2nd Shift Analysis
The second shift of RRB Group D 18th September Exam is over and here is a detailed analys...
RRB Group D 2018: Exam city, Dates Out!!
Railway Recruitment Board (RRB) Group D Examination Dates and City has been released. The...
RRB Group D 19th September 2018 1st Shift Analysis
The 1st Shift of RRB Group D Exam of 19th September 2018 is over now. We have provid...
20 Sept - Today's FREE Mock Tests on GovJobAdda
1. Indian Polity Test 2 https://govjobadda.org/test/ind...
RRB Group D 19th September 2018 2nd Shift Analysis
The 2nd Shift of RRB Group D Exam of 19th September 2018 is over now and it is time ...
NIACL Assistant Prelims 2018 Result Declared
NIACL has released the online Prelims examination result 2018 for the post of Assistant,...
LIST OF ALL GOVERNMENT EXAMINATIONS 2018
Friends, Today we are going to provide you a comprehensive list of all the upcoming Banking, SSC ...