All you need to know about India Post Payments Bank

India Post launched its long-awaited payments bank by launching 650 branches across the country on September 1, 2018 making it the fourth such entity to start operations. The India Post Payments Bank was launched by Prime Minister Narendra Modi at Talkatora Stadium in Delhi. IPPB was the third entity to receive payments bank permit after Airtel and Paytm. Payments banks can accept…

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Various Indicators of Deficit in the Budget

  A budget is a financial plan for a defined period of time, usually a year. In India, it is for a year. This plan includes approximate costs, revenues during a specific period and reflects future financial conditions. It is essential for managing spending, avoiding debts and properly allocating resources. The Union Budget of India is also referred to as the Annual…

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List of Important Abbreviations used in Banking Industry

Banking Awareness Questions

Banking and Financial Abbreviations are commonly asked all banking and related exams like SBI PO, IBPS PO/Clerk, IBPS RRB, RBI Grade B/Assistant, IPPB, LIC, UIIC, OICL, NICL, NIACL, etc. We are sharing a list of important Abbreviations which will be useful for the upcoming Exams. List of Important Abbreviations used in Banking and Finance Industry: Click here to Download Important…

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FDI Limits In India

Foreign Direct Investment (FDI) is an investment made by a company or individual in one country in another country, in the form of either establishing business operations or acquiring business assets in the other country, such as ownership or controlling interest in a foreign company. Examples: Various IT companies like IBM, Ericsson, etc. have invested in India by establishing business…

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Prompt Corrective Action (PCA)

Prompt Corrective Action

Simply, Prompt Corrective Action can be referred to as penalties on the banks when they do not comply with the regulator’s (The Reserve Bank of India here in India) guidelines. To ensure that banks don’t collapse at any point, RBI has put some threshold limits on activities according to which RBI monitors the banks’ working and then take corrective actions…

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Banking Regulation Act 1949 and Important Sections (Updated)

Banking Regulation Act 1949

The Banking Regulation Act 1949 is a legislation in India that regulates all banking firms in India. Initially, the law was applicable only to banking companies. But, 1965 it was amended to make it applicable to cooperative banks and to introduce other changes. There are total 55 Sections in the Banking Regulation Act, 1949. Some important sections are listed below:  …

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Negotiable Instruments Act and Important Sections

Negotiable Instruments Act 1881

Negotiable instruments recognized by Negotiable Instruments Act 1881 are: (i) Promissory notes (ii) Bills of exchange (iii) Cheques. A negotiable instrument is a piece of paper which entitles a person to a sum of money and which is transferable from one person to another by mere delivery or by endorsement and delivery. There were total 142 Sections in the Negotiable Instruments Act…

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