General Knowledge

💘 Banking Abbreviations 💘 1. PSBs: Public Sector Banks 2. SNBCs: Schedule Non Commercial Banks 3. SENSEX: Sensitive Index Of Stock Exchange 4. GNP: Gross National Product 5. KYC: Know Your Customer 6. RTGS: Real Time Gross Settlement 7. NEFT: National Electronic Money Transfer 8. EFT: Electronic Fund Transfer 9. CBS: Core Banking Solutions 10. LIBOR: London Interbank Offered Rate 11. MIBOR: Mumbai Interbank Offered Rate 12. MIBID: Mumbai Interbank Bid Rate 13. SARFAESI: Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest 14. CAR: Capital Adequecy Ratio 15. FIIs: Foreign Institutional Investments 16. FDI: Foreign Direct Investment 17. IPO: Initial Public Offering 18. MICR: Magnetic Ink Character Recognition 19. BIRD: Bankers Institute Of Rural Development 20. IBA: Indian Bank Association 21. BPLR: Benchmark Prime Lending Rate 22. SWOT: Strength, Weaknesses, Opportunities And Threats 23. SWIFT: Society For Worldwide Interbank Financial...

❤️ RBI’s 7th Bi-monthly Monetary Policy Statement for 2019-20 ♦️Repo Rate - 4.40% ♦️Reverse Repo Rate - 4.00%  ♦️MSF - 4.65% ♦️Bank Rate - 4.65% ♦️CRR - 3% ♦️SLR - 18.25% 💐Repo rate reduced by 75 basis points to 4.4% 🎯Rev repo reduced by 90 basis points to 4% 💐GDP growth for Q4 19-20 and FY 20-21 to be affected 🎯Aggregate demand may weaken 💐Future outlook uncertain and negative 🎯CRR reduced by 100 basis points to 3% for 1 year to release 1.37 lakh crores 💐Min daily CRR balance reduced from 90% - 80% till 30/06/2020 🎯3.74 lakh crore liquidity injected 💐 3 month moratorium on payment of instalments of Term Loan outstanding 🎯Interest on WC facilities to be deferred by 3 months 💐Such deferment not to be considered for NPA 🎯Revised DP calculations by reassessing WC cycle 💐All measures not to effect credit history 🎯Total liquidity injection 3.4% of GDP