Aartee Mishra is teaching live on Unacademy Plus
Daily Lecture Series Ramsb Sigh's A brief summary of (S unacademy By Aartee Mishra ndian Economy Banking in India-D Hindi
I am Aartee Mishra Graduated from Delhi University, Topper in all my semesters, Pursuing P.G and preparing for CSE 2 Years of teaching experience of General Studies for competitive examination Have been teaching on Unacademy Plus
Basel Accords The Basel Accords are three series of banking regulations (Basel I, Il and IIl) set by the Basel Committee on Bank Supervision (BCBS), which provides recommendations on banking regulations in regards to capital risk, market risk and operational risk. The purpose of the accords is to ensure that financial institutions have enough capital on account to meet obligations and absorb unexpected losses. The objectives of the accords could be summed up as: a. to strengthen the international banking system b. to promote convergence of national capital standards c. to iron out competitive inequalities among banks across countries of the world High Power Money: The central banks of all the countries are empowered to issue the currency. The currency issued by the central bank is called 'high power money because it is generally backed by supporting reserves' and its value is guaranteed by the government and it is the source of all other forms of money In India, there are two sources of high power money supply: RBI and Government of India
Credit Rating: To assess the credit worthiness (credit record, integrity capability) of a prospective (would be) borrower to meet debt obligations is credit rating Today it is done in the cases of individuals, companies and even countries. There are some world-renowned agencies such as the Moody's, S & P. The concept was first introduced by John Moody in the USA (1909) MUDRA BANK: As per the Government of India, large industries provide employment to only 1.25 crore people in the country while the micro units employ around 12 crore people. There is a need to focus on these 5.75 crore self- employed people (owners of the micro units) who use funds of Rs. 11 lakh crore, with an average per unit debt of merely Rs. 17,000. Capital is the key to the small entrepreneurs. These entrepreneurs depend heavily on the local money lenders for their fund requirements.
MUDRA BANK Looking at the importance of these enterprises, the Government of India launched (April 2015) the Micro Units Development and Refinance Agency Bank (MUDRA Bank) with the aim of funding these unfunded non-corporate enterprises This was launched as the PMMY (Prime Minister Mudra Yojana). Important features of the MUDRA Bank are as given below: Under this banking model, the micro units can avail up to Rs. 10 lakh loan through refinance route (through the Public and private sector banks, NBFCs, MFls, RRBs, District Banks, etc) Though the scheme covers the traders of fruits and vegetables, in general, it does not refinance the agriculture sector There is no fixed interest rate in this scheme. As per the Government of India, presently, banks are charging the interest rates between Base Rate plus one per cent to 7 per cent per annum. Interest rates on the loans are supposed to vary according the risk involved in the enterprises seeking loans. There is no general subsidy offered on interest rates except if the loan is linked to some other government scheme.
Ancient & Medieval History From Harappa to Revolt of 1857 with brief Art and Culture (Prelims & Mains) Aartee Mishra Course Starting Detailed Coverage of each and every topic from Ancient to Medieval India Short Crisp Notes for better Revision Test Series from, 30th July 9:30pm-10:30pm on Unacademy Plus
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