Banking Awareness Inward Elementary Linguistic Communication – Lesson 18

Dear Gr8 Ambitionists, due to hectic piece of work inwards my bank, I was unable to post service my lessons on Banking Awareness regularly. As the exams convey been approaching, I volition endeavour to speedup the lessons in addition to volition post service 2 to iii lessons per day. Please brand your schedule accordingly. In our previous Banking Awareness 2017 Lesson 17, nosotros convey learnt close about Important Banking in addition to Financial Organizations inwards examination betoken of view. In today’s lesson too, nosotros shall perish on amongst about other of import organizations. Happy Reading 🙂

Banking Awareness 2017 : Banking & Financial Organizations (Part 2)

MSME (Micro, Small, Medium Enterprises)

Headquarter : Delhi 
The Ministry of MSME, a branch of the GOI, is the apex trunk for the formulation in addition to management of rules, regulations & laws relating to micro, little in addition to medium enterprises inwards India. MSME are classified into ii classes

  1. Manufacturing Sector 
  2. Service Sector

Manufacturing Sector
Service Sector
Enterprises
Investment inwards Plant in addition to machinery
Enterprises
Investment inwards Equipments
MICRO
Doesn’t transcend 25 lakh Rs.
MICRO (40% of manufacturing)
Doesn’t transcend 10 lakh Rs.
SMALL
More than 25 lakh but doesn’t transcend five crore.
SMALL (40% of manufacturing)
More than 10 lakh Rs. but doesn’t transcend twenty crore Rs.
Medium
More than five crore but doesn’t transcend 10 crore Rs.
Medium
More than 2 crore but doesn’t transcend five crore Rs.

SME (Small & Medium Enterprises)

SMEs are critical for the economical & social evolution of emerging markets They play a major role inwards creating jobs & generating income for depression income people; they foster economical growth, social stability & contribute to the evolution of a dynamic individual sector.

CGTMSE (Credit Guarantee Fund Trust for Micro & Small Enterprises)

The give-and-take CGTMSE in addition to its LOGO ensure assured assist for the entrepreneurs to laid upwards MSE units. The ministry building of Micro, Small in addition to Medium Enterprises & Small Industries Development banking concern of Republic of Republic of India (SIDBI) established a trust named CGTMSE to implement the Credit Guarantee Fund Scheme for Micro & Small enterprises. The scheme was formally launched on Aug, 30,2000 in addition to its operational amongst number from 1 Jan, 2001 collateral costless loans nether CGTMSE scheme. 
The Credit Guarantee Scheme (CGS) provides guarantee to bank, inwards illustration if borrower fails to repay the loan in addition to hence CGTMSE repay the loan sum upto 50% to 85% in addition to maximum loan sum which tin live covered nether CGTMSE is Rs. 1 crore. 

SIDBI (Small Industries Development Bank of India)

Headoffice : Lucknow
CEO : Dr. Kshatrapati Shivaji 
  1. Small Industries evolution of Republic of Republic of India human activity 1989. 
  2. Set upwards on 2 Apr 1990. 
  3. Independent fiscal establishment focuses on increment & evolution of Micro, Small in addition to Medium Scale Enterprises (MSME) inwards India. 
Note: SIDBI is a subsidiary of Industrial Development Bank of India. 
Function : It refinances loans & advances provided yesteryear the existing lending establishment to the little scale units. 
Note : Finance Minister Arun Jaitley launched ii funds yesteryear SIDBI 1 for funding start-ups inwards Republic of Republic of India in addition to about other to assist little enterprises. 
  1. The Republic of Republic of India Aspiration Fund (IAF) is intended to catalyse tens of thousands of crores of equity investment into start-ups in addition to MSMEs, creating occupation for lakh of persons, to a greater extent than frequently than non educated youth over the adjacent iv to five years. LIC volition live partner in addition to co-investor inwards the fund. 
  2. The minute fund is a debt fund called SIDBI brand inwards Republic of Republic of India loan for enterprises (SMILE), which was announced inwards the Union budget (2015) inwards February. The fund volition render brusk term loans in addition to loans inwards the nature of quasi-equity of MSMEs to encounter debt-to-equity norms in addition to pursue growth. 

NPCI (National Payments Corporation of India)  

Headquarter : Mumbai
Chairman : Sh. Balachandran 
MD & CEO  : A.P. Hota 
  1. NPCI was incorporated inwards December 2008 & the certificate of foremost of describe organisation was issued inwards April, 2009. 
  2. NPCI formed to operate for the create goodness of all the fellow member banks in addition to their customers.
  3. NPCI has successfully completed the major projection of developing a domestic carte du jour payment network-Rupay. 
  4. Presently, at that spot are 10 crore promoter banks (SBI, PNB, BOB, BOI, Canara bank, Union Bank of India, ICICI, HDFC, Citi Bank & HSBC). 
Features of NPCI Model : 
  • AEPS (Aadhar Enabled Payment System): It is a novel payment service offered yesteryear the NPCI to banks, fiscal institutions using “Aadhar” number in addition to online UIDAI authentication through their respective describe organisation correspondent service centres. RBI has approved the airplane pilot of AEPS. 
  • IMPS (Immediate Payment System) : It is an over the mobile 24 x vii interbank electronic payment mechanism that enables customers to utilization mobile instruments, Internet banking & ATMs equally channels for accessing their banking concern accounts in addition to placing interbank fund transfers inwards secured manner.
Requisites
  1. MMID : Mobile Money Identifier is a vii digit code issued yesteryear banking concern to their customers. This number is mandatory for the beneficiary of funds if he wants to locomote inwards into a transaction.  
  2. IFSC : Indian Financial System Code is a code which is a form of identity for a specific bank. 
  3. NFS (National Financial Switch) : It was initiated yesteryear Institute of Development & Research inwards Banking Technology in addition to handed over to NPCI inwards 2009. NFS consists of an national switch to facilitate connectivity betwixt banks switcher & their ATM’s in addition to interbank payment gateway for authentication in addition to routing the payment details of diverse e-commerce transactions. NFS is India’s largest ATM connecting facility. Main purpose of NFS initially was to include rural in addition to co-operative banks nether its umbrella. 
  4. Rupay : Rupay is the Indian domestic carte du jour payment network existence laid upwards yesteryear NPCI on the behalf of banks inwards India. 

SEBI (Securities in addition to Exchange Board of India)

Headquarter : Mumbai
Head : Upendera Kumar Sinha
  • Established inwards 1988 in addition to got statutory might on 12 Apr 1992 nether SEBI human activity 1992. 
  • Objective : Protects the involvement of investors in addition to to promote the evolution of stock commutation & regulate the activities of stock market. 
  • 1st chariman of SEBI is Dr. S.A. Dave [12 Apr 1988-23 Aug 1990] Current chairman of SEBI is Great Britain Sinha [18 Feb 2011 — Incumbent] 
  • As per the SEBI regulations, the grade of run a hazard volition live depicted yesteryear the coloring code boxes for Mutual Funds :
    • Blue : Principal at depression risk 
    • Yellow : Principal at medium risk 
    • Brown : Principal at high risk. 
      • This regulations came into number on 1 July 2013 post service which all the fund houses convey labelled their funds tin live the set down of the run a hazard levels. 
  • SEBI has launched a centralised spider web based scheme to redress complaints yesteryear — SCORES. 

EXIM (Export — Import Bank of India)

Headquarter : Mumbai
Chairman & doc : Sh. Yadwendra Mathur
  1. It was established inwards 1982 nether EXIM Bank of Republic of Republic of India Act 1981
  2. The banking concern lays especial emphasis on extension of Lines Of Credit (LOCs) to overseas entities, national govts., regional fiscal establishment in addition to Commercial Banks. 
  3. The banking concern extends Buyers credit & suppliers credit to finance in addition to promote country’s exports. 
  4. To promote hi-tech exports from India, the banking concern has a lending programme to finance Research & Development (R & D) activities of export-oriented companies.
  5. The authorised upper-case missive of the alphabet of the EXIM banking concern is Its. 200 crore & paid upwards upper-case missive of the alphabet is Rs. 100 crore, wholly subscribed yesteryear the key government. 
Functions :
To tap domestic & unusual markets for resources, nether taking evolution & fiscal activities inwards export sector (export & import). 

NABARD (National Bank for Agriculture in addition to Rural Development)

Head business office : Bombay
Chairman : Dr. Harsh Kumar Bhanwala

  • Biggest Rural Development Bank 
  • Established on 12 July 1982 on recommendation of Shivaraman commission to implement NABARD human activity 1981. 
  • AIM : To uplift Rural Republic of Republic of India & rural non farm sector. 
  • NABARD acts equally regulator for co-operative banks & RRB’s (Regional Rural Banks).

Functions :

  • Provides refinance to lending institutions inwards rural areas. 
  • Helps SHG (Self Help Group) & pitiful people inwards rural areas.
    Runs programme for agricultural & rural development. 
  • Recommends close licensing for RRBs, Co-operative banks to RBI. 

Note : There is 99% belongings of GOI in addition to 1% of RBI inwards NABARD. 

ECGC (Export Credit Guarantee Corporation of India) 

Industry : Insurance

Founded : xxx July 1957

Headquarter : Mumbai

  1. It is a fellowship wholly owned yesteryear Government of India.
  2. OBJECTIVE: To render insurance comprehend inwards abide by of risks inwards export trade. 
  3. ECGC Ltd. provides export credit insurance back upwards to Indian exporters in addition to is controlled yesteryear the Ministry of Commerce. 
  4. ECGC Ltd. is the seventh largest credit insurer of the set down inwards damage of courage of national exports. 

DICGC (Deposit Insurance in addition to Credit Guarantee Corporation)

  • Established : Under DICGC human activity 1961 on fifteen July 1978. 
  • Subsidiary of RBI 
  • Head business office : Bombay
  • DICGC insures all banking concern deposits equally saving, fixed, current, recurring etc except next deposits: 
    • Deposits of unusual Government.
    • Deposits of state/central government 
    • Interbank Deposits 
    • Deposit of province the world evolution banks amongst province cooperative banks 
    • Any sum due on describe organisation human relationship in addition to deposit received exterior Republic of Republic of India o Any sum exempted yesteryear RBI approval. 
  • DICGC Insures upto maximum Rs. 100,000 for both main & involvement held yesteryear a client equally on engagement of scheme merger/reconstruction or cancellation of bank’s license come upwards into forcefulness (in illustration of multiple a/c yet maximum insured sum is Rs. 1 lakh). 
  • Note : All commercial banks, branches of foreign  banks functioning 1st India, RRBs, local expanse bank, co-operative banks are insured yesteryear DICGC.

IRDA (Insurance Regulatory in addition to Development Authority)

  • Head business office : Hyderabad (Telangana) 
  • Chairman : T.S. Vijayan 
  • It is an autonomous apex statutory trunk to command & educate insurance means inwards India. MBA it tinti011ftl means of GOI. 
  • Passed yesteryear Government of Republic of Republic of India nether IRDA Act 1999 on recommendation of Malhotra Committee. 
  • It was incorporated equally statutory trunk inwards Apr 2000. 
  • IRDA human activity 1999, amended inwards 2002 to contain about emerging requirements. 
  • Objective : To protect the involvement of policy holders, to regulate, promote & ensure orderly increment of the insurance manufacture & for matters connected therewith or incidental at that spot to.

GIC (General Insurance Corporation) 

Founded : 22 November 1972 nether the companies human activity 1956. 
Headquarter : Bombay GIC of Republic of Republic of India (GICRe) is the sole reinsurance fellowship inwards the Indian insurance market.
Note : GICRe wins marine Insurer of the twelvemonth Award at the maiden Maritime Standard Awards 2015. 

LIC (Life Insurance Corporation of India)  

  • The fellowship was founded inwards 1956 nether Life Insurance of Republic of Republic of India human activity on xix June 1956. LIC is an Indian province owned insurance grouping in addition to investment fellowship caput quarter inwards Mumbai. It is the largest insurance fellowship inwards India. 
  • LIC offers a diverseness of Insurance products to its customers such equally insurance plans, unit of measurement linked plans, especial plans in addition to grouping schemes. 
  • LIC’s slogan yogakshemam vahamyaha is inwards Sanskrit linguistic communication which interpret inwards English linguistic communication equally “Your welfare is our responsibility“. The slogan tin live seen inwards the logo, written inwards devnagri script.
That’s all for right away friends. In our adjacent Banking Awareness lesson, nosotros shall larn close various Banking & Financial Institutes. Happy Reading 🙂

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