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27,940 cr funds in 2015-16 in the public sector banks. The provision is for
 recapitalisation of public sector banks to enable them to maintain their Tier-I
capital at comfortable level. Additionally. in order to raise funds, banks have been
allowed to reduce govt stake to 52 per cent. For 2014-15, the govt had proposed capital
infusion of Z11,200 cr. However, against that, the govt disbursed 26,990 cr to nine
public sector banks based on their performance. Largest public sector lender SBI leads
the pack with a capitalisation of 22,970 cr, followed by BoB Zl,260 cr, PNB 2870 cr and
Canara Bank 2570 cr. Public sector banks require 22.40 lakh cr capital by 2018 to meet
global Basel III norms. The govt has infused 258,600 cr between 2011 and 2014 in the
state-owned banks. RBI cuts repo rate The Reserve Bank of India (RBI) lowered its policy
 repo rate by 25 basis points to 7.5 per cent on 4 Mar, its second inter-meeting cut this
 year on the back of easing inflation and what it said was weak state of parts of the
economy. The RBI had lowered interest rates by 25 bps on Jan 15. Both rate cuts this year
were outside of the central banks scheduled policy review meetings. The cash reserve
 ratio was kept unchanged at 4 per cent. The cut comes just days after the govt and the
RBI agreed to formally adopt inflation targeting, though the central bank introduced its
 own targets a year ago. Indian companies welcomed the RBIs move to cut interest rates,
saying it would boost demand for home and auto loans and hence revive these two key
sectors. Nine Executive Directors appointed in PSBs The Govt appointed nine Executive
Directors in Public Sector Banks. The Appointments Committee of the Cabinet has approved
the appointments. Charan Singh UCO Bank K Venkata Rama Moorthy Bank of Baroda RP Marathe
Bank of India Harideesh Kumar B Canara Bank NK Sahoo Allahabad Bank Pawan Kumar Bajaj
Indian Overseas Bank Ravi Shankar Pandey Syndicate Bank Kishore Piraji Kharat Union Bank
of India RC Lodha Central Bank of India RBI ready to relax authentication norms With the
increasing demand for making electronic payments easier, the Reserve Bank on 14 Mar said
it was willing to relax the norms only for card present transactions where near-field
communication (NFC) technology is used. It said the ATM transactions where the card was
 not present would continue to require the additional factor of authentication – a PIN or
one-time password. The regulator has set a limit of ?2,000 per transaction even for
 contact-less cards. The two-factor authentication issue came to light after the RBI
discovered that the US-based tax aggregator Uber was circumventing this norm. Pressed by
 the RBI, Uber fell in line and complied with the norms. At present, a customer has to
 key in the personal identification number (PIN) for authenticating every transaction.
If the draft circular gets implemented, customers using contactless cards will not have
 to key in the PIN for transaction up to 22,000. At present, only 1CICI Bank has a
contactless card offering, while industry sources say the largest lender SBI is also
mulling to launch such a card.
14
Union Bank opens UK arm The public sector Union Bank of India (UBI) opened its British
subsidiary on 13 Mar. The bank plans for a balance sheet of up to $1 bn in the next few
years, and the potential for further expansion into Europe. Opening a subsidiary.
regulated by Britains Prudential Regulatory Authority, would give the bank freedom
to expand its branch network in the UK as well as into the Euro area, Union Bank Chairman
Arun Tiwari said on the occasion, ahead of the official inauguration of the subsidiary by
 Union Finance Minister Arun Jaitley. Last year, the UK overhauled the regulations
governing foreign banks operating banks — pushing them towards acquiring subsidiary
status as part of efforts to toughen up governance and strengthen stability of the banking
system. UBI began overseas expansion in 2007, with offices in Dubai, Hong Kong and Sydney.
It has had an office in Britain since 2010 but has been cautious on expanding. Mudra Bank
 to begin as Sidbi unit The proposed Micro Units Development Refinance Agency (Mudra)
Bank will be set up soon, first as a subsidiary of the Small Industries Development Bank
of India (SIDBI). It will later be converted to a full-fledged bank through an Act of
 Parliament. The Prime Minister Narendra Modi would soon launch Mudra Bank. In his
2015-16 Budget speech. Finance Minister Arun Jaitley had announced the creation of
Mudra with a corpus of 220,000 cr and a credit guarantee corpus of 23,000 Cr, with the
 aim of providing loans to the smallest of businesses. These bottom-of-the-pyramid,
 hardworking entrepreneurs find it difficult, if not impossible, to access formal systems
 of credit. The FM also promised lending priority to enterprises owned by Scheduled Castes
and Tribes. The National Sample Survey Office (NSSO) has revealed that of 57.7 mn such
micro enterprises, 65 per cent are owned by people from the SC/ST communities or from
Other Backward Classes. RBI revises priority sector lending norms The Reserve Bank of
India (RBI) revised guidelines for lending to the priority sector on 2 Mar. Highlights •
 The loans to medium enterprises, sanitation and renewable energy sectors will come under
 the ambit of priority sector lending. • The target for lending to the redefined priority
 sector is retained uniformly at 40 per cent of adjusted net bank credit (ANBC) or credit
 equivalent of off-balance sheet exposure, whichever is higher, for all scheduled
commercial banks. • Foreign banks will, however, be given time to comply with the revised
norms. • The target for lending to the agriculture sector has been retained at
 18 per cent of ANBC, but the RBI has recommended a sub-target of 8 per cent ofANBC for
 small and marginal farmers, which is to be achieved in a phased manner.
Priority Sector Lending Certificates for Banks The govt proposes to introduce Priority
Sector Lending Certificates (PSLCs) on the lines of carbon credit trading, wherein banks
can earn premium for exceeding targets. This will be a part of the govts re-orientation
 of the priority sector lending schemes where banks are given targets to provide credit to
 specific sectors,
BANKING SERVICES CHRONICLE MAY 2015


exports and agriculture. Earlier, a Reserve Bank of India (RBI) committee had recommended
introduction of PSLCs to enable banks to meet their PSL requirements even while leveraging
 their comparative advantage in lending. So far, total credit extended by banks in
 priority sector lending is 221,54,356.29 cr. Banks are required to lend 40 per cent of
their advances to priority sectors, which also include agriculture, education and housing.
 Under carbon credit trading norms, companies who pollute more can buy the points from
those whose emissions are less. SBI composite index shows significant uptrend The SBI
 Composite Index, an indicator for tracking Indias manufacturing activity, has shown a
significant growth in output both in terms of month-on-month and yearly basis in Mar.
The monthly index has shown robust growth of 58.5 in Mar 2015, from 47.6 in Feb 2015,
signalling the highest pace of growth in the last 48 months. The monthly index had slipped
from 52.6 in Jan 2015 to 47.6 in Feb 2015. The yearly SBI Composite Index for Mar 2015
inched up to 54.6 from 53.5 in Feb 2015, a six-month high.The index captures two components
 of the manufacturing cycle — month-on-month and year-on-year —growth on a scale of 0 to
100. Index above 50 implies growth over previous respective period and less than 50 will
suggest a contraction over respective period. MoU between Indian Army, SBI A Memorandum of
 Understanding (MoU) was signed between the Indian Army and the State Bank of India (SBI)
 on the Defence Salary Package on 23 Feb 2015. The first MoU between SBI and the Indian
Army was signed in 2011 and was valid for a period of three years. The revised MoU is
 tailor-made to suit the requirements of serving soldiers, pensioners and families.
A number of additional facilities have been incorporated in the revised MoU after
concerted efforts spanning over a year. The basic features of the MoU include a number
of free / concessional services like free drafts, free cheque books, free funds transfers
 to any bank in India through RIGS / NEFT, free ATM cards etc. The provision also includes
the Nepal Express Remittance Scheme which enables instant fund transfers to Nepal for the
benefit of the Nepali Domicile Gorkha Soldiers serving in the Indian Army. Union Cabinet
 nods for NDB The New Development Bank (NDB) and BRICS Contingent Reserve Agreement (CRA)
 have been given a green signal by the Union Cabinet chaired by Prime Minister Narendra
 Modi on Feb 25, 2015. The BRICS group envisaged the development of NDB and CRA in Jul
2014 at the sixth summit in Fortaleza, Brazil. It will help BRICS group (Brazil, Russia,
 India, China and South Africa) in availing the resources of infrastructure and sustainable
 development projects. Further, it will enhance the economic co-operation among the
countries and bound them into closer relation. With the signatory approval, India is
 expected to raise resources for its infrastructure that has been lagging behind in some
sort and could not contribute to the overall development. Earlier, India had only two
public sources that were involved in the infrastructural financing – one was the Centre
itself and another was the existing multilateral development banks. The agreement and
the Bank will be operational once the members of the group submit their instruments of
ratification with Brazil.
Newswatch
What do NDB and BRICS Contingent Reserve Agreement propose to do? New Development Bank
will help in availing resources for enhancing infrastructure of each country and
sustainable development. BRICS CRA will provide short-term liquidity support to the
members while easing Balance of Payments (130P) crisis through currency swapping.
 It will provide mutual support and strengthen the financial stability. It will also
strengthen the global financial safety net and complement existing international
arrangements (from IMF). It will help in binding the BRICS group into close relations
and increase their economic co-operation. It is expected to make additional foreign
exchange reserves more accessible. Other than that, India has IMF support in case of
Balance of Payments. It will provide a backup safety net arrangement that will allow
the govt to take bold policy decisions without being concerned about the domestic
 upheaval or worst BOP positions. CCI nod to Kotak-ING Vysya Bank merger The Competition
Commission of India (CCI) has approved the proposed merger of ING Vysya Bank with Kotak
 Mahindra Bank. ING Vysya Bank and Kotak Mahindra Bank, both separately announced that
CCI has approved the proposed combination in the nature of merger of ING Vysya Bank with
 Kotak Mahindra Bank under Section 31 (1) of the Competition Act, 2002. Kotak Mahindra
Bank and ING Vysya Bank had announced amalgamation of ING Vysya with Kotak in the ratio
 of 725 shares of Kotak for every 1,000 shares of ING Vysya. Kotak Mahindra Banks
consolidated net profit rose 21.2 per cent to 2716.61 cr on 20.3 per cent rise in total
income to 25323.46 cr in Q3 Dec 2014 over Q3 Dec 2013. India signs loan agreement with
ADB The Asian Development Bank (ADB) and the Govt of India signed on 23 Feb a $50-mn loan
agreement for the second Assam Power Sector Investment Program which aims to build up the
 capacity of power generation and distribution systems to meet the growing energy demand
 in the state ofAssam. The first tranche loan of the $300-mn multi-tranche financing
facility will fund generation capacity enhancement and distribution efficiency
improvement subprojects in the state. More than a third of households in the State face
 daily electricity cuts of 5 to 6 hours. Many important businesses, such as the tea
gardens, still arent connected to the grid. And in peak periods Assam has to buy up
to 15 per cent of its power from independent producers at very high cost. The project
is expected to be completed by 31 Dec 2018.
JAM Trinity at a glance The JAM Trinity holds the key to one of the biggest pieces of
reform ever attempted in India – direct subsidy transfers. The term has been the flavour
 of the season, finding mention both in the Economic Survey and the Budget. What is it?
It is an abbreviation for Jan Dhan Yojana, Aadhaar and Mobile number. The govt is pinning
its hopes on these three modes of identification to deliver direct benefits to Indias
poor. The govt provides subsidies on a number of items. Such subsidies cost the exchequer
 quite a bit. Yet, as they make their winding way through the hands of intermediaries,
leakages, corruption and inefficiencies eat away large parts. This is where the govt
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ibps clerk exam online preparation are held across India and has unlimited no of mock test where the aspirant can avail this facility 24 hours of the day ibps clerk exam online preparation has 24x7 support for the aspirants so that the aspirant does not face any kind of problems and this help is across in the exams ibps clerk exam online preparation has 24 hours online teacher support so that the aspirant if has any question can clarify the same with the teacher who is available ibps clerk exam online preparation by getting this online test the aspirant can get much improved the time wise ibps clerk exam online preparation

clat online test series 2021 


clat online test series 2021 (CLAT) is a centralized test for admission to 18 prominent National Law Universities in India, recent entrant is Maharashtra National Law University, Nagpur. The test is taken after the Higher Secondary Examination or the 12th grade for admission to integrated under graduation programmers in Law and after Graduation clat online test series 2020 in Law for Master of Laws(LL.M) programmers conducted by these law universities. This test was conducted for the first time on 11 May 2008clat online test series 2021 . The two-hour admission test consists of objective type covering questions on Elementary Mathematics or Numerical Ability, English with Comprehension, General knowledge and Current affairs, Legal Aptitude and Legal Awareness and Logical reasoning clat online test series 2021 . The CLAT scores are used by other private law colleges across the country and Public Sector Undertakings for admissions and recruitment respectively for clat online test series 2020

jee advanced online test series 


jee advanced online test series Joint Entrance Examination Earlier, counseling for JEE main was conducted through CSAB but now officials have made changes in the counseling procedure. The JAB (Joint Admission Board), representing IITs and CSAB (Central Seat Allocation Board), are making agreements on the behalf of NITs and other CFTIs, and are now united to conduct a counseling (common counseling) for the two exams of JEE. The memo for the same was signed on May 2, 2015. These two together will be known as the Joint Seat Allocation Authority jee advanced online test series  gives the aspirant the present running competitive exam which is happening in the present days such as Recruitment  in medical field or any other medical competitive exam that is to be carried by any sector such  or any other kind jee advanced online test series  it is covers all competitive exams. Covers all the competitive exams and gives us the syllabus and entrance exam pattern of the to the aspirant which is must to be known to the aspirant who is attempting jee advanced online test series

Nabard grade a exam online practice test 2021 : 


Nabard grade a exam online practice test 2021 National Bank for Agriculture and Rural Development (NABARD) is an apex development financial institution in India, headquartered at Mumbai with branches all over India.Nabard grade a exam online practice test 2021 Bank has been entrusted with matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India. NABARD is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion Nabard grade a exam online practice test 2021 the aspirant the present running competitive exam which is happening in the present days such as Recruitment  Nabard grade a exam online practice test 20178that is to be carried by any sector such  or any other kind Nabard grade a exam online practice test 2021 it is covers all competitive exams. Covers all the competitive exams and gives us the syllabus and entrance exam pattern of the to the aspirant which is must to be known to the aspirant who is attempting Nabard grade a exam online practice test 2021
 

Aiims mbbs online mock test free 2021 : 


aiims mbbs online mock test free 2020 All India Institute of Medical Sciences Delhi (AIIMS Delhi; IAST: AkhilBhāratiyaÄ€yurvignanSamsthānDillÄ«) is a medical college and medical research public university based in New Delhi, India. The Institute was established in 1956 and operates autonomously under the Ministry of Health and Family Welfare aiims mbbs online mock test free 2020 gives the aspirant the present running competitive exam which is happening in the present days such as Recruitment  in medical field or any other medical competitive exam that is to be carried by any sector such  or any other aiims mbbs online mock test free 2020 it is covers all competitive exams. Covers all the competitive exams and gives us the syllabus and entrance exam pattern of the to the aspirant which is must to be known to the aspirant who is attempting aiims mbbs online mock test free 2021

Mock test for nimcet 


mock test for nimcet NIMCET is the national level entrance test for admission to Master of Computer Applications (MCA) courses in selected National Institutes of Technology (NITs). A total of 11 NITs offer MCA. Agartala, Allahabad, Bhopal, Calicut, Durgapur, Jamshedpur, Kurukshetra, Raipur, Surathkal, Tiruchirappalli and Warangal take admission based on NIMCET rank. (LIST)mock test for nimcet gives the aspirant the present running competitive exam which is happening in the present days such as Recruitment  in Computer field or any other  competitive exam that is to be carried by any sector such  or any other mock test for nimcet it is covers all competitive exams. Covers all the competitive exams and gives us the syllabus and entrance exam pattern of the to the aspirant which is must to be known to the aspirant who is attempting mock test for nimcet
fmge online test series 


fmge online test series Medical Council of India Screening Test, also known as Foreign Medical Graduates Examination (FMGE), is a licensure examination conducted by the National Board of Examinations (NBE) in India fmge online test series . The test is one of the mandatory requirements for an Indian citizen who has a medical degree from a college outside India to practice medicine in the country.(teaching hospital) fmge online test series . The screening test was introduced in 2002 as a qualifying examination for Indian students obtaining their medical degrees from countries other than India, such as countries belonging to the former. Soviet Union, Eastern European countries, China, Nepal, Philippines, and Caribbean countries .fmge online test series 
 

ibps specialist officer exam pattern 2021 : 


ibps specialist officer exam pattern 2020 is the best online test series for the aspirants who are preparing for IBPS  test  ibps specialist officer exam pattern 2020 is according to the syllabus which Indian banking personal selection has set for the examination for the aspirants who are preparing for ibps specialist officer exam pattern 2020 has marks that has been given reasoning 40 marks numerical ability 40 marks a total of 80 marks ibps specialist officer exam pattern 2020 with a cumulative span of 45 mins for the prelims that are given in theibps specialist officer exam pattern 2020 for prelims then the syllabus for the aspirants
 

aipgmee online test series : 


aipgmee online te