Wednesday, 2 August 2017

3rd Bi-monthly Monetary Policy Statement, 2017-18

Third Bi-monthly Monetary Policy Statement, 2017-18 Resolution of the Monetary Policy Committee (MPC) Reserve Bank of India

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to:
reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.25 per cent to 6.0 per cent with immediate effect.

Consequently, the reverse repo rate under the LAF stands adjusted to 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.25 per cent.

The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth. The main considerations underlying the decision are set out in the statement below.

Dr. Chetan Ghate, Dr. Pami Dua, Dr. Viral V. Acharya and Dr. Urjit R. Patel were in favour of the monetary policy decision, while Dr. Ravindra H. Dholakia voted for a policy rate reduction of 50 basis points and Dr. Michael Debabrata Patra voted for status quo. The minutes of the MPC’s meeting will be published by August 16, 2017.

The next meeting of the MPC is scheduled on October 3 and 4, 2017.

Monday, 26 June 2017

Abbreviations for bank exam

VAR- Vector Autoregressive
BVAR- Bayesian vector autoregressive
ADs- Authorised Dealers
FERA- Foreign Exchange Regulations Act
LERMS- Liberalized Exchange Rate Management System

Tuesday, 13 June 2017

Questions asked in Allahabad Bank promotion exam

Allahabad Bank promotion exam questions asked scale 1 to scale 2-
Q 1 IN PCA what is the mean of P                       
Q2 NPCI AND BHEL STANDS FOR                       
Q 3 SBI cap after merger 

Monday, 12 June 2017

Subvention and subsidies on short term crop loan up to Rs. 3 lakh

The Central Government will provide interest subvention of 5 per cent per annum to all farmers for short term crop loan up to one year for loan up to Rs 3 lakh borrowed by them during the year 2016-17. Farmers will thus have to effectively pay only 4 per cent as interest.

Farmers will get short-term crop loans of up to Rs 3 lakh at a subsidised interest rate of 4 per cent this fiscal year, provided they repay in time, or else a higher rate of 7 per cent will be charged.

Sunday, 11 June 2017

Monetary Policy Committee (MPC)

Constitution of the Monetary Policy Committee under the Reserve Bank of India Act, 1934

The Reserve Bank of India Act, 1934 (RBI Act) has been amended by the Finance Act, 2016, to
provide for a statutory and institutionalised framework for a Monetary Policy Committee, for
maintaining price stability, while keeping in mind the objective of growth. The Monetary Policy
Committee would be entrusted with the task of fixing the benchmark policy rate (repo rate)
required to contain inflation within the specified target level. A Committee-based approach for
determining the Monetary Policy will add lot of value and transparency to monetary policy
decisions. The meetings of the Monetary Policy Committee shall be held at least 4 times a year
and it shall publish its decisions after each such meeting.

Sunday, 28 May 2017

Sale of Goods Act- 1930 "Bullet Points"

Sale of Goods Act

·       A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in the goods to the buyer for a price( sec-4 of the Act )

Monday, 22 May 2017