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.