Knowing the syllabus of NABARD Grade A syllabus 2025 will be your first step towards your preparation on a strong note. Now that the around the corner with the conclusion of the current exam cycle, you should begin your preparation with C4S Courses as quick as you can. Click on the link to get the best mentorship for NABARD Grade A 2025 : https://learn.c4scourses.in/learn/NABARD2025 JOIN US for the best preparation of your NABARD GRADE A 2025 NABARD Grade A Prelims Syllabus SECTION TOPICS Quantitative Aptitude Time and Work, Mensuration, Average, Speed, Distance and Time, Mixture and Allegations, Permutation and Combination, Probability, Data Interpretation, Ratio & Proportion, Simplification & Approximation, Percentage, Set Theory, Data Interpretation, Quadratic Equation, Number Series, Profit & loss, Boats & Stream, Simple and Compound Interest, Data Sufficiency. English Language Grammar, Vocabulary, Reading Comprehension, Passage Making, Error Spotting, Jumble Words, Sentence Framing, Fill in the Blanks, Cloze Test, Sentence Rearrangement, Idioms & Phrases. General Awareness Monetary Policies, Banking & Financial Awareness, Economic Terms, Current Affairs, Static GK, Financial & Economics News, Government Schemes, Agreement & Deals, Banking terms, rates, processes, National Institution. Reasoning Ability Puzzles, Seating Arrangement – Circular, Square and Linear, Data Sufficiency, Directions and Distance, Coding Decoding, Blood Relations, Inequality, Syllogism, Machine Input Output, Verbal Reasoning, Ordering and Ranking, Alphanumeric Series. Computer Knowledge Computer Languages, Basic Hardware and Software, History of Computer, Devices, Viruses and Hacking, MS Office, Networking. Decision Making Behaviour Decision Making ,Managerial Decision making ,Eligibility Criteria based decision making ,Data Arrangements Based Decision making. NABARD Grade A Mains Syllabus NABARD Grade A Phase 2 (Mains) syllabus is different of different streams. For general stream, topics from Agriculture & Rural Development and Economic & Social Issues are covered. For the specialized posts, Paper 2 will consist of questions from the respective field of specialization. NABARD Grade A Mains Syllabus ( Generalist ) Paper 1 Paper 1 of NABARD Grade A Mains will consist of English Language which is descriptive type in online mode. Candidates are supposed to type their answers and comprehension skills will be examined in this phase. The detailed NABARD Grade A syllabus Paper 1 is given below. SECTION TOPICS English (Writing Skills) Essay, Precis writing, Comprehension and Business/Office Correspondence. NABARD Grade A Mains Syllabus ( Generalist ) Paper 2 Paper 2 will consist of questions from the respective field of specialization. NABARD Grade A Syllabus for Economic and Social Issues SECTION TOPICS Economic and Social Issues Nature of Indian Economy – Structural and Institutional features – Economic underdevelopment – Opening up the Indian Economy – Globalisation – Economic Reforms in India – Privatisation. Inflation – Trends in Inflation & their Impact on National Economy and Individual Income. Poverty Alleviation and Employment Generation in India – Rural and Urban – Measurement of Poverty – Poverty Alleviation Programmes of the Government. Population Trends – Population Growth and Economic Development – Population Policy in India. Agriculture – Characteristics / Status – Technical and Institutional changes in Indian Agriculture – Agricultural performance – Issues in Food Security in India – Non Institutional and Institutional Agencies in rural credit. Industry – Industrial and Labour Policy – Industrial performance – Regional Imbalance in India’s Industrial Development – Public Sector Enterprises. Rural banking and financial institutions in India – Reforms in Banking/ Financial sector. Globalisation of Economy – Role of International Funding Institutions – IMF & World Bank – WTO – Regional Economic Co-operation. Social Structure in India – Multiculturalism – Demographic trends – Urbanisation and Migration – Gender Issues Joint family system – Social Infrastructure – Education – Health and Environment. Education – Status & System of Education – Socio -Economic Problems associated with Illiteracy – Educational relevance and educational wastage – Educational Policy for India. Social Justice: Problems of scheduled castes and scheduled tribes – socio-economic programmes for scheduled castes and scheduled tribes and other backward classes. Positive Discrimination in favour of the under privileged – Social Movements – Indian Political Systems – Human Development. Current Economic & Social Issues. NABARD Grade A Syllabus for Agriculture and Rural Development SECTION TOPICS Agriculture Agriculture: definition, meaning and its branches, Agronomy: definition, meaning and scope of agronomy, Classification of field crops, Factors affecting crop production, Agro Climatic ZonesCropping Systems: Definition and types of cropping systems, Problems of dry land Agriculture- Seed production, seed processing, seed villageMeteorology: weather parameters, crop-weather advisory, Precision Farming, Organic farmingSoil and Water Conservation: Major soil types, soil fertility, fertilizers, soil erosion, soil conservation, watershed managementWater Resource: Irrigation Management: types of irrigation, sources of irrigation, crop-water requirement, command area development, water conservation techniques, micro-irrigation, irrigation pumps, major, medium and minor irrigationFarm and Agri Engineering: Farm Machinery and Power, Sources of power on the farm- human, animal, mechanical, electrical, wind, solar and biomass, bio fuels, water harvesting structures, farm ponds, watershed management, Agro-Processing, Controlled and modified storage, perishable food storage, godowns, bins and grain silos.Plantation & Horticulture: Definition, meaning and its branches. Agronomic practices and production technology of various plantation and horticulture crops. Post-harvest management, value and supply chain management of Plantation and Horticulture crops.Animal Husbandry: Farm animals and their role in Indian economy, Animal husbandry methods in India, common terms pertaining to different species of livestock, Utility classification of breeds of cattle. Introduction to common feeds and fodders, their classification and utility.Introduction to poultry industry in India (past, present and future status), Common terms pertaining to poultry production and management. Concept of mixed farming and its relevance to socio-economic conditions of farmers in India. Complimentary and obligatory nature of livestock and poultry production with that of agricultural farming.Fisheries: Fisheries resources, management and exploitation – freshwater, brackish water and marine; Aquaculture- Inland and marine; biotechnology; post-harvest technology. Importance of fisheries in India. Common terms pertaining to fish production.Forestry: Basic concepts of Forest and Forestry. Principles of silviculture, forest mensuration, forest management and forest economics. Concepts of social forestry, agroforestry, joint forest management. Forest policy and legislation in India, India State of Forest Report 2017. Recent developments under Ministry of Environment, Forest and Climate Change.Agriculture Extensions: Its importance and role, methods of evaluation of extension programs, Role of
World Meteorological Department
Overview The World Meteorological Organization (WMO) https://c4scourses.in/current-affairs/current-affairs-10-december-2024/ has issued a stark warning, stating that sea levels around Pacific Islands are rising at a rate of about 4 mm per year, slightly above the global average. About World Meteorological Organization is a specialized agency of the United Nations (UN) Governance Structure :
RBI Syllabus 2025
The syllabus of RBI Grade B https://learn.c4scourses.in/learn/RBI2025 covers various topics like General Awareness , Quantitative Aptitude , English Language , and Reasoning. It also covers social issues and economic issues, Finance and , Management and also includes descriptive papers for Phase-2. We are providing you the best guidance for your RBI Grade B 2025 exam : Get yourself enrolled for the best mentorship of RBI Grade B 2025 The RBI Grade B exam consists have been categorized into three parts : RBI Grade B Phase 1 Syllabus English Language Reasoning Ability Quantitative Aptitude General Awareness Reading Comprehension Puzzles Data Interpretation Indian Banking System Cloze Test Seating Arrangements Inequalities (Quadratic Equations) Indian Financial System Fillers Direction Sense Number Series Govt. Schemes and Policies Error Detection Blood Relation Approximation or Simplification Current Affairs Vocabulary based questions Syllogism Data Sufficiency Static Awareness Sentence Improvement Order and Ranking Miscellaneous Arithmetic Problems Monetary Plans Jumbled Paragraph Coding-Decoding Quantity Comparison (Q1 & Q2) National Institutions Phrase Replacement/ Phrase Correction Machine Input-Output Banking Terms Match The Column Inequalities Word Swap Alpha-Numeric-Symbol Series Word Rearrangement Data Sufficiency Idioms Logical Reasoning (Passage Inference, Statement,Assumption, Conclusion, Argument) Paragraph /Sentences Restatement Paragraph Based Questions Paragraph Fillers RBI Grade B Phase 2 Syllabus for General ( DR ) In the phase 2 of the examination RBI Grade B officer there are three papers mentioned below : Syllabus of Paper 1 ( Economic and Social Issues ) CATEGORY KEY TOPICS Growth and Development 1. National Income and Per Capita Income2. Poverty Alleviation and Employment3. Sustainable Development and Environment Economic Landscape 1. Economic History2. Industrial and Labor Policy Changes 3. Monetary and Fiscal Policy 4. Economic Survey and Union Budget Policies Financial System 1. Money and Financial Markets 2. Role of Banks and Reserve Bank of India3. Public Finance 4. Political Economy’s Influence Economic Sectors 1. Industrial Developments2. Importance of Agriculture3. Services Sector Growth Globalization 1. Opening Up of Indian Economy2. Balance of Payments Explained3. Export-Import Policy4. International Economic Institutions ( IMF, World Bank, WTO )5. Regional Economic Cooperation and International News Social Structure 1. India’s Multiculturalism2. Demographic Trends and Analysis3. Urbanization and Migration Impact4. Gender Issues and Social Justice Syllabus of Paper 2 ( English Writing Skills ) The RBI Grade B Syllabus 2025 for Phase 2 Paper II will be descriptive. The paper on English shall be framed in a manner to assess the writing skills including expression and understanding of the topic. Syllabus of Paper 3 ( Finance and Management ) CATEGORY TOPICS Financial System Structure and Functions Of Financial InstitutionsFunctions Of the Reserve Bank of IndiaBanking System in India – Structure and Developments, Financial Institutions – SIDBI, EXIM Bank, NABARD, NHB, NaBFID etc.Recent Developments in the Global Financial System and its Impact on the Indian Financial SystemRole Of Information Technology in Banking and FinanceNon-Banking SystemDevelopments in Digital Payments Financial Markets Primary and Secondary Markets (Forex, Money, Bond, Equity, etc.), function, instruments, recent developments. General Topics Financial Risk ManagementBasics of DerivativesGlobal financial markets and International Banking-broad trends and latest developmentsFinancial InclusionAlternate source of finance, private and social cost-benefit, Public-Private PartnershipCorporate Governance in the Banking SectorThe Union Budget – Concepts, approach and broad trendsBasics of Accounting and Financial Statements- Balance Sheet, Profit and Loss, Cash Flow Statements, Ratio AnalysisInflation: Definition, trends, estimates, consequences, and remedies (control): WPI, CPI -components and trends; striking a balance between inflation and growth through monetary and fiscal policies Management Fundamentals of Management & Organizational BehaviourIntroduction to management; Evolution of management thoughtManagement functions and Managerial rolesMeaning & concept of organizational behaviour; Personality: meaning, factors affecting personality, Big Five model of personalityPerception: concept, perceptual errors. Motivation: Concept, importance, Content theories and process theoriesLeadership: Concept, TheoriesEmotional Intelligence: Concept, Importance, DimensionsAnalysis of Interpersonal RelationshipConflict: Concepts, Sources, Types, Management of conflictOrganizational Development (OD)Ethics At The Workplace and Corporate GovernanceMeaning of ethics, why ethical problems occur in businessTheories of ethicsEthical principles in BusinessCorporate GovernanceCommunication Phase 1 Paper 1 Objective Type ( on Economics ) MODULE TOPICS Microeconomics Theories of consumer’s demand; Production; Market Structures and Pricing; Distribution; and Welfare Economics. Macroeconomics Theories of Employment, Output and Inflation; Monetary Economics; ISLM Model; Schools of Economic Thought. International Economics Theories of International Trade; Balance of Payments; Exchange Rate Models. Theories of Economic Growth Classical neo-classical approaches to economic growth and major theories of economic development. Public Finance Theories of taxation and public expenditure and Public Debt Management. Environmental Economics Green GDP, Environmental Valuation, Environmental policy instruments. Quantitative Methods in Economics Mathematical and Statistical Methods for Economics, Ordinary Least Square Regression. Current Developments in the Indian Economy Growth, inflation, poverty, unemployment, financial sector developments, external sector developments, fiscal developments, agriculture, industry, infrastructure, and services. Phase 1 Paper 2 Descriptive Type ( in English ) The English paper will evaluate the candidate’s writing abilities, including their expression and comprehension of the given topic. Phase 2 Paper 1 Descriptive Type ( On Economics ) Microeconomic Module TOPIC DESCRIPTION Consumer Theory Cardinal and Marginal Utility Analysis, Consumer Surplus, Indifference Curve Analysis, Price, Income and Substitution Effects, Game Theory Protection Theory Forms of Production function; Laws of Returns to Scale; Partial Equilibrium Vs General Equilibrium Analysis Market Theory Pricing under different market structures Distribution Theories Ricardo, Marx, Kalecki, and Kaldor Welfare Economics Pareto Optimality, Schools of Welfare Thought including Arrow, Coase, and Sen Macroeconomic Module TOPIC DESCRIPTION National Income Accounting Various methods for measurement of National Income Theory of Employment and Output Classical and Neo-classical approaches, Keynesian theory of Employment and output, Post-Keynesian developments, Business Cycles Inflation Types of Inflation, Philip’s curve, Taylor’s Rule, Lucas Critique Money and Banking Quantity theory of Money, Neutrality of money, IS-LM Model and AD-AS Models, Money Multiplier, Monetary Policy Theories of Economic Growth Theories of growth, Classical and neoclassical approaches, Theories of Economic Development International trade and Balance of payments Theories of international trade, Determination of exchange rates, Impossible Trinity Public Finance Theories of taxation, Theories of public expenditure, Theories of public debt management Phase 2: Paper 2 Descriptive ( on Economics ) Module on quantitative methods in economics TOPIC DESCRIPTION Mathematical Methods
RBI Grade B exam 2025 Preparation
“The essence of strategy is choosing what not to do.” — Michael E. Porter . Well said for the students who are seeking to clear their RBI Grade-B exams . C4S is providing you the exact platform where you can learn the strategies for you exams and get the best guidance . For making your plan strategically in limited time this content is providing you all the preparation strategies and key aspects of RBI-Grade B examination . When you will go through the previous year question papers you may get an idea of the difficulty level of the examination and the types of questions asked . Preparation strategy : RBI Grade B Phase 1 and 2 If you are preparing for the upcoming RBI Grade B examination then at very first you have to choose the correct platform ! In this content every important details for the examination has been provided which you must master upon the RBI Grade B examination . Subject-wise study plans , detailed informations about the exam have been mentioned in the content , so that you can analyse it and schedule your study plans accordingly .The best things is that these study plans are exceedingly easy to understand and are in a tabulated form . Important topics related to the RBI Grade-B preparation : At this point make sure that you are updated about every certain changes in RBI Grade B exam and syllabus . Important Techniques Approach to Mocks DO’s and DONT’s in RBI Grade A and B Exam These were all important points to keep in mind while preparing for RBI Grade B exam .
ISRO International Space Research Organization
What is ISRO ? It is a space agency of India under the Department of Space of Government of India . ISRO coming into being Achievements of ISRO Communication Satellites It was established in the year 1983 with the commissioning of INSAT-1B . INSAT is one of the largest domestic satellite system in Asia-Pacific region . Given below is the list of some important communication satellites : SATELLITE LAUNCH DATE LAUNCH VEHICLE APPLICATION GSAT-31 06 Feb 2019 Ariane-5 VA-247 Communication GSAT-7A 19 Dec 2018 GSLV-F11 / GSAT-7A Mission Communication GSAT-11 Mission 05 Dec 2018 Ariane-5 VA-246 Communication GSAT-29 14 Nov 2018 GSLV Mk III-D2 / GSAT-29 Mission Communication GSAT-6A 29 Mar 2018 GSLV-F08/GSAT-6A Mission Communication GSAT-17 29 Jun 2017 Ariane-5 VA-238 Communication GSAT-19 05 Jun 2017 GSLV Mk III-D1/GSAT-19 Mission Communication GSAT-9 05 May 2017 GSLV-F09 / GSAT-9 Communication GSAT-12 15 July 2011 PSLV-C17/GSAT-12 Communication GSAT-8 21 May 2011 Ariane-5 VA-202 Communication / Navigation EDUSAT 20 Sep 2004 GSLV-F01 / EDUSAT(GSAT-3) Communication Earth Observation Satellites At very first India started with IRS-1A in 1988 , then with times ISRO launched many operational remote sensing satellites . Today India is having one of the largest constellations of the remote sensing satellites in operation . Given below is the list of some important earth observation satellites : Satellite Launch Date Launch Vehicle Application HysIS Nov 29, 2018 PSLV-C43 / HysIS Mission Earth Observation Cartosat-2 Series Satellite Jan 12, 2018 PSLV-C40/Cartosat-2 Series Satellite Mission Earth Observation Cartosat-2 Series Satellite Jun 23, 2017 PSLV-C38 / Cartosat-2 Series Satellite Earth Observation Cartosat-2 Series Satellite Feb 15, 2017 PSLV-C37 / Cartosat -2 Series Satellite Earth Observation RESOURCESAT-2A Dec 07, 2016 PSLV-C36 / RESOURCESAT-2A Earth Observation SCATSAT-1 Sep 26, 2016 PSLV-C35 / SCATSAT-1 Climate & Environment INSAT-3DR Sep 08, 2016 GSLV-F05 / INSAT-3DR Climate & Environment, Disaster Management System CARTOSAT-2 Series Satellite Jun 22, 2016 PSLV-C34 / CARTOSAT-2 Series Satellite Earth Observation SARAL PSLV-C20/SARAL PSLV-C20/SARAL Climate & Environment, Earth Observation RISAT-1 Apr 26, 2012 PSLV-C19/RISAT-1 Earth Observation Megha-Tropiques Oct 12, 2011 PSLV-C18/Megha-Tropiques Climate & Environment, Earth Observation RESOURCESAT-2 Apr 20, 2011 PSLV-C16/RESOURCESAT-2 Earth Observation CARTOSAT-2B Jul 12, 2010 PSLV-C15/CARTOSAT-2B Earth Observation Oceansat-2 Sep 23, 2009 PSLV-C14 / OCEANSAT-2 Climate & Environment, Earth Observation RISAT-2 Apr 20, 2009 PSLV-C12 / RISAT-2 Earth Observation CARTOSAT-1 May 05, 2005 PSLV-C6/CARTOSAT-1/HAMSAT Earth Observation The Technology Experiment Satellite (TES) Oct 22, 2001 PSLV-C3 / TES Earth Observation Oceansat (IRS-P4) May 26, 1999 PSLV-C2/IRS-P4 Earth Observation Rohini Satellite RS-D1 May 31, 1981 SLV-3D1 Earth Observation Bhaskara-I Jun 07, 1979 C-1 Intercosmos Earth Observation, Experiment
Foreign Currency Non Resident FCNR
Difference between FCNR and FCNR (B) The basic difference between FCNR and FCNE (B) is mentioned below : FCNR (B) was introduced to replace the already prevailing FCNR scheme which was known as FCNR A . Who can open a FCNR account ? The FCNR (B) account has provision for the nomination facility like usual FD account … etc . An Indian resident can also be the nominee for the account . This account can be closed permanently if required by the account holders. In case the account holder if wishes to earn interest on the same , the account should be functional for a minimum time period of 1 year .
Mahatma Gandhi National Rural Employment Guarantee Act ( MGNREGA )
Mahatma Gandhi National Rural Employment Guarantee (MGNREGA) Act has helped in reimbursing 20%-80% of the income loss caused due to COVID-19 lockdown as per study conducted of 4 states i.e, (Maharashtra , Madhya Pradesh , Bihar and Karnataka . MINISTRY Ministry of Rural Development What is MGNREGA ? ABOUT MGNREGA was launched in the year 2005 as one of the largest work guaranteed program by the Ministry of Rural Government . The basic objective of MGNREGA was providing 100 days guaranteed employment in every financial year to any rural or adult people who are willing to do public work – related which is unskilled manual work. As per the data of 2023-24 in there are more than 15.4 crores active workers under the MGNREGA . Legal Right to Work Women should be at least one-third of the beneficiaries of this scheme . Wages should be paid as prescribed under the Minimum Wages Act,1948 as specified for the agricultural labourers in state. Demand Driven Scheme The most crucial and important part of MGNREGA is that work should be provided to any rural or adult person within 15 days when demanded and if he/she did not get the work on proper time “unemployment allowance” must be paid to them. The demand-driven program allows the self-selection of work . Decentralized Planning Through giving significant roles to Panchayati Raj Institutions there is a focus on strengthening the way or process of decentralization . Now this act is mandating the Gram Sabha for recommending the works which are to be undertaken and a minimum of 50% work should be performed by them. Issues Related with Implementation of this Scheme Way Forward There is an urgent need of better coordination with in various departments of government . There is a lack of incompatibility in the payouts which should be addressed genuinely. Women earn less tha 22.24 % in this sector as compared to their male partners . The State Government must positively look upon the mandate of the work that it should be appointed within the time mandated . The local body have to look upon the quarantined migrants who need the work cards . MGNREGA should also be converged with other governmental schemes so that the rate of opportunities can be increased .
The Bhartiya Nyay Sanhita 2023
Major changes have been made in the field of law . The Indian Penal Code has now been amended as Bhartiya Nyay Sanhita .This change is being enforced with effect from 1st of July 2024 .Certain amendments have also been made regarding the old laws of Indian Penal Code . The Bhartiya Nyay Sanhita(BNS) 2023 have now replaced the Indian Penal Code(IPC) 1860. Deletions made in the new BNS LIST of the SECTIONS DELETED New Offences Promise to marry : Criminalizing ” deceitful ” promises to marry . Mob Lynching : Codified offences linked to mob lynching and any hate crime – murders. Terrorism and Organized Crime : Now the ordinary criminal law covers the terrorism and the organized crime which also includes a broader scope for terror financing in BNS. Attempt to Suicide : Now it has been criminalized attempt to suicide with an intent to compel or restrain any public servant from discharging official duty. Community Service : Now this has been added as a possible form of punishment. Deletions Unnatural and Sexual Offences : In IPC section 377 which criminalized homosexuality has now been replaced completely. Adultery : In the consonance of the judgement of the Supreme Court ( apex court ) offences of adultery has now been omitted completely. Thugs : Section 310 of Indian Penal Code has been mitted completely. Gender Neutrality : Some of the laws which dealt with children has also been omitted . Modifications made Fake News : Now publishing fake news and information has been criminalized . Sedition : Under the new law it has been given a new name i.e, ” deshdroh ” with a wider definition of it . Damage to Public Property : Now on damaging any public property a graded fine will be charged in corresponding of the amount of the damage caused. Madatory Minimum Sentence : In many of the provisions there is a mandatory minimum sentences prescribed. Death by Negligence : Now punishments for causing death by negligence ( 2years imprisonment for doctors ) . Bhartiya Nagrik Suraksha Sanhita 2023 The Code of Criminal Procedure , 1973 (CrPC) has now been changed to Bhartiya Nagrik Suraksha Sanhita , 2023 (BNSS) which was being enforced with effect from 1st of July 2024 . Certain amendments have also been made regarding the old laws of CrPC. Basic Key Provisions Hierarchy of the courts : Eliminated distinction and role of metropolitan magistrate . BNSS DEFINITIONS ( New Insertions ) Section 2 a. Electronic Audio -Video b. Bail c. Bail bond d. Bond e. Electronic communications f.” Investigation”- explanation Major Changes Made ; Bhartiya Sakshya Adhiniyam 2023 On 1st July 2024 the Indian Evidence Act(IEA) 1872 have been replaced by the Bhartiya Sakshya Adhiniyam (BSA) 2023. Key Provisions In the Bhartiya Sakshya Adhiniyam major changes have been made to get rid of the old evidence act which consisted rules and laws of the English evidence act too . It consists of too many new provisions to maximize the transparency , objectives and many more legal proceedings .
PRADHAN MANTRI JAN – DHAN YOJNA
Why in news ? Achievements of PMJDY in these TEN Years… About PMJDY This scheme is a financial program which aims in ensuring access to different financial services , savings, deposits, insurance , pensions in an affordable manner . Under this anyone can open Basic savings banak deposits in any bank branch those who are not having any account opened already. Features: In PMJDY accounts there is no any requirement to maintain any minimum balance. Free debit cards are provided to the account holders. The account holders can also avail accidental insurance. This account is eligible for many governmental schemes listed below: No mandatory free cheque book will be provided to the account holders. Challenges to PMJDY The temp of getting all the insurance cover , accidental death benefit cover results in people opening multiple accounts in different banks using different identification like PAN Card, Aadhar Card. Many accounts creates financial problem for the banks in maintaining and managing them. It is also creating money laundering issues as the some accounts of the poor peoples are being used by the black money operators . Many a times some of the business correspondents do misuse of the authority which the life of the people below poverty line miserable. There is also a lack of financial and technical illiteracy which is creating problem in savings ,deposits to may account holders.
BANKING SECTOR : ACTS and AMMENDMENTS
Banking Reforms in India is a regular and continuous process in order to ensure a strong and vigorous Financial System and also for supporting in the Sustainable Growth of the nation. These reforms are making the banking sector transparent ,more competitive which is contributing in the Economic Growth of the nation. NEW AMMENDMENTS IN BANKING SECTOR MINISTRY : FINANCE INTRODUCED IN LOK SABHA on 9th AUGUST 2024 Banking Laws ( amendment ) Bill,2024 was being introduced in the Lok Sabha on 9th of August 2024 . It has now amended the old banking laws . The amended new Banking Laws are listed below : OBJECTIVE OF THE BILL Basically it aims in building up the banking governance in India by enhancing the reporting consistency to the RBI . It is also improving the security of the depositors and the investors. The bill also seeks to upraise the audit quality in the public sector banks. It is also extending the tenure of the directors in the cooperative banks (except the chairman or whole-time director ) . These changes have been made in order to enshrine a better accountability within the banking sector in India. MAJOR CHANGES Fortnight for cash reserves The scheduled banks have to maintain certain levels of daily average balance with RBI ,as cash reserves , under the Reserve Bank of India Act. The daily average balance is based upon the average of the balances which is held by the banks at closing of each day of fortnight. Changes in tenure of the directors of the cooperative banks ? The director of the bank ( except chairman or whole-time director ) is prohibited to uphold the office more than eight consecutive years ,under the Banking Regulation Act . The new bill has increased it up-to 10 years ,for the cooperative banks. The Cooperative Banks may have the common directors or not ? Under the Banking Regulation Act , any director serving on the banks board cannot serve for the board of another bank, but this is not applicable to the directors who are appointed by the Reserve Bank of India. Now the new bill has extended this exemption to the central cooperative banks, and this exemption will be applied where they are elected for the board of a state cooperative bank in which they are the members . What is the amount of substantial interest in a company ? As per the Banking Regulation Act, it refers to the holding shares over Rs. 5 Lakh or 10% of the paid up capital of the company or whichever is the lesser one. It may be held either individually or collectively or by any individual , his spouse or minor child. Now the new bill has amended this to increase this to two crore rupees. The amount may be altered by the central government through a notification. NOMINATION To appoint a nominee for their deposit, under the Banking Regulation Act ,banks only allows single or joint deposit holders. In case of death of the person who appointed the nominee, he/she will have all the access to the deposits, articles or locker . Now according to the new bill, four nominees can be appointed for these purposes . For a consecutive nomination ,the nominee who has been named higher will be given the priority. SETTLEMENT OF UNCLAIMED AMOUNT Banking Companies ( Acquisition and Transfer of Undertakings ) Act, 1970 and 1980 and State Bank of India Act is there for transferring the unpaid or unclaimed dividend to an unpaid dividend account. If the money will stays in the account unpaid and unclaimed for a time period of seven years it will be transferred to the IEPF. This money can be claimed for refund or transfer if the money is unclaimed or unpaid. REMUNERATION OF AUDITORS Presently remuneration being paid to the auditors of the respective banks is decided by the Reserve Bank of India , with a consultation with the Central Government. The new bill have empowered the banks to decide the remuneration amount of their auditors.
