RBI Vision 2022 (Utkarsh 2022)
RBI released Utkarash 2022, its vision documentBANKING POLICYduring July 2019. It provides information about, what RBI's plans for future. A summary is provided.
Mission: To promote the economic and financial well-being of the people of India in terms of price and financial stability; fair
and universal access to financial services; and a robust, dynamic
and responsive financial intermediation infrastructure.
Core Purpose :
1. To foster confidence in the internal and external value of the
Rupee and contribute to macro-economic stability
2. To regulate markets and institutions under its ambit, to ensure
financial system stability and consumer protection
3. To promote the integrity, efficiency, inclusiveness and
competitiveness of the financial and payment systems
4. To ensure efficient management of currency as well as banking
services to the Government and banks
5. To support balanced, equitable and sustainable economic
development of the country
Values: RBI commits itself to the following shared values that
guide organisational decisions and employee actions in pursuit ofthe Bank’s core purpose:
Public Interest : RBI in its actions and policies, seeks to promote
public interest and the common goodResponsiveness and Innovation: RBI seeks to be a dynamicorganisation responsive to public needs.
Integrity and Independence: To maintain highest standards of
integrity through openness, trust and accountabilityIntrospection and pursuit of excellence: RBI is committed toself-appraisal, introspection and professional excellence
VISION 1: Excellence in performance of functions.
A: Furthering the monetary policy framework and operating
procedure; enriching statutory publications; and striving for a
‘state-of-the-art’ data-intensive policy research framework
B : Creating a resilient financial intermediation ecosystem; refining
the regulatory, supervisory and financial inclusion framework.
C : Strengthening resilience, integrity and efficiency of the financialmarkets infrastructure with a focus on deepening digital payments
D: Enhancing efficiency of the ‘Banker to Government’ function
E: Broadening and widening debt markets.
F: Revamping the currency management system through enhanced
efficiency in procurement and distribution.
VISION 2: Strengthened trust of citizens and other institutions.
A : Strengthening external communication framework.
B: Creating an enabling environment to develop consumer-friendly
financial services providers
C: Ensuring sound and comprehensive internal
and external RBI policies
D: Adopting a ‘less paper’ and virtual workflowfor external stakeholders
VISION 3: Enhanced relevance andsignificance in national and global roles
A: Intensifying presence in national forums to
improve domestic financial infrastructure
B: Enhancing RBI’s brand equity.
C: Amplifying international financial
engagement by articulating RBI’s stance and
views on major global economic and regulatory
D: Strengthening existing positions in
VISION 4: Transparent, accountable andethics-driven internal governance
A: Reinforcing governance and code of ethics
B: Upgrading internal controls through robust
risk management, auditing & compliance
functions through international best practices
C: Adopting ‘less paper’ & virtual internal
VISION 5: Best-in-class and environment-friendly digital as well as physical infrastructure
A: Automating processes, achieving integration
of information and ensuring cyber security.
VISION 6: Innovative, dynamic & skilledHuman Resources
A: Reviewing and reframing the organisational
structure to effectively implement all strategies
B: Enhancing skills of human resources for
creating a suitable training framework
C: Establishing an objective performance
assessment system for efficient HRM.
D: Using technology and data analytics to
promote research-based decision making by
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Question no. 26-30 are to be answered based on the Paragraph:
Bushra Nazir from Jammu and Kashmir, shares "I am from a poor family. I wanted to do a job to support my family. But I was not able to find a way out. One day, a team of Mass Infotech Society visited my area and approached many youth including me for skill development training programme. They informed that they have started a job-linked skill development programme under "GoI" Scheme in our area, which gave me a ray of hope". After completing my studies up to class 12th, I was not able to study further because of financial problems. I was losing my hopes and enthusiasm. When a team of Mass Infotech Society visited our area and gave us the details of the scheme, I decided to join the skill development programme without any delay. I visited the Mass Infotech Centre at Bohri Kadal, Srinagar and got further details regarding the program. Considering my capabilities, the organization informed me about Banking & Accounting Trade. I was also informed that I would get training on soft skills, IT and personality development in addition. I joined the programme and did my training. It was a new experience for me. I enjoyed the training by participating in many activities. In classes I learned many things related to my sector. The classes on soft skills, computers and personality development helped me in grooming myself. After the training, the organization has helped me to get a job as an Accountant at Digital Computer Institute with monthly salary of Rs. 12300. Before this job, my family suffered a lot as my father was the only bread earner. I am very thankful to Ministry & Mass Infotech Society as they have taken up such a useful programme for economic empowerment of poor minorities. I wish this programme continues in Jammu and Kashmir which would provide a better option to the unemployed youth.
Q.26 Which of the following scheme has been referred in the above paragraph:
a. Nai Udaan Scheme
b. Seekho aur Kamao
c. Nai Roshni
d. Nai Manzil
Q.27 The referred scheme is implemented by which of the following ministry:
Q.28 The referred scheme is a Central Sector scheme implemented since …..for skill development of minorities:
Q.29 The scheme will be implemented for the benefit of the 6 (Six) notified minority communities under National Commission for Minorities Act 1992, which of the following is not a minority community
Q.30 Which of the following is not true about the scheme:
a. Minimum 33% seats will be reserved for minority girl/ women candidates in programme.
b. Priority will be given to organizations who would guarantee 75% overall placement percentage and out of that at least 50% placement should be in organized sector.
c. The trainee should be between 14-45 years of age.
d. The minimum qualification of trainee should be at least Class10th.
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IMPORTANT TOPIC FOR RBI GRADE B 2019 EXAM (NOTICE ALREADY OUT)
Prompt Corrective Action (PCA)
What is it?
Prompt Corrective Action or PCA is a framework under which banks with weak financial metrics are put under watch by the RBI. The PCA framework deems banks as risky if they slip below certain norms on three parameters — capital ratios, asset quality and profitability.
It has three risk threshold levels (1 being the lowest and 3 the highest) based on where a bank stands on these ratios. Banks with a capital to risk-weighted assets ratio (CRAR) of less than 10.25 per cent but more than 7.75 per cent fall under threshold 1.
Those with CRAR of more than 6.25 per cent but less than 7.75 per cent fall in the second threshold. In case a bank’s common equity Tier 1 (the bare minimum capital under CRAR) falls below 3.625 per cent, it gets categorised under the third threshold level.
Banks that have a net NPA of 6 per cent or more but less than 9 per cent fall under threshold 1, and those with 12 per cent or more fall under the third threshold level.
On profitability, banks with negative return on assets for two, three and four consecutive years fall under threshold 1, threshold 2 and threshold 3, respectively.
When is PCA invoked?
The PCA is invoked when certain risk thresholds are breached. There are three risk thresholds which are based on certain levels of asset quality, profitability, capital and the like. The third such threshold, which is maximum tolerance limit, sets net NPA at over 12% and negative return on assets for four consecutive years.
Why is it important?
As most bank activities are funded by deposits which need to be repaid, it is imperative that a bank carries a sufficient amount of capital to continue its activities. PCA is intended to help alert the regulator as well as investors and depositors if a bank is heading for trouble. The idea is to head off problems before they attain crisis proportions. Essentially PCA helps RBI monitor key performance indicators of banks, and taking corrective measures, to restore the financial health of a bank.
On breach of any of the risk thresholds mentioned above, the RBI can invoke a corrective action plan. Depending on the threshold levels, the RBI can place restrictions on dividend distribution, branch expansion, and management compensation. Only in an extreme situation, breach of the third threshold, would identify a bank as a likely candidate for resolution through amalgamation, reconstruction or winding up.
Owing to the sharp deterioration in finances of state-owned banks on the back of rising NPAs, 11 public sector banks were put under PCA last year. Based on FY18 financials of the 21 PSBs, 17 can fall under PCA based on net NPA threshold alone and nine on ROA alone (negative for two consecutive years).
Why should I care?
If a bank in which you hold deposits falls under PCA, don’t press the panic button. The RBI’s corrective measures may bode well for your bank. But do keep a watch on the RBI’s PCA announcements, as they can offer vital cues on the performance of your bank.
Contrary to the perception, PCA does not really limit the normal lending operations of banks. Arguments that so many banks slipping into PCA has stifled credit growth are overdone. While the RBI has placed restrictions on credit by PCA banks to unrated borrowers or those with high risks, it hasn’t invoked a complete ban on their lending.
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Key Announcements Of Union Budget 2019-20:
- PAN and Aadhaar will become interchangeable. One can use your Aadhaar number to file I-T Returns soon
- Rs 5 lakh minimum limit announced for taxpayers.
- 3% surcharge hike on an income of Rs 2 crore and 7% on Rs 5 crore and above
- Corporate tax with turnover of up to Rs 400 crore slashed to 25 per cent from a current rate of 30 per cent
- MDR charges waived on cashless payment
- Fiscal deficit in FY 19 at 3.3% of the GDP
- GST rate on electric vehicles lowered to 5%
- Nari tu Narayani: Women SHG Interest Subvention Programme to be expanded to all districts in India
- Rs 1 lakh loan to be provided for SHG women members under Mudra Scheme
- Additional income tax deduction of Rs 1.5 lakh on interest on loans taken to purchase electric vehicles
- Additional deduction of Rs 5 lakh on loans up to March 31 2020 for buying affordable houses, giving Rs 7 lakh benefit to home buyers.
- To provide Aadhaar cards for NRIs with Indian passports, after their arrival in India, with no waiting period.
- Rs 20 coin coming up
- Regulation of HFCs (Housing Finance Cos) to move to RBI from National Housing Bank
- Excise duty on fuel hiked by Rs 1
- To resolve the angel tax issue, startups will not be subject to any scrutiny in respect to valuation. Funds raised by startups will not require any scrutiny by the I-T department.
- TDS of 2% on cash withdrawals exceeding Rs 1 crore in a year from bank accounts, to discourage business payments in cash.
- Period of exemption for capital gains arising from sale of house for investment in startups to be extended to March 31, 2021
- Rs 70,000 crore in recapitalisation for public sector banks
- Rs 1.05 lakh crore disinvestment target for the year.
- TV channel to be launched for promoting startups and to help matchmaking for funds
- Rs 50 lakh crores proposed for Railway infrastructure
- By 2022, the 75th year of Independence, every single rural family, except those who are unwilling to take the connection, will have electricity and clean cooking facility
- The pension benefit will be extended to 3 crore retail traders under PM Karam Yogi Maan Dhan Scheme. It requires only Aadhaar numbers and bank accounts
- Rs 1 crore worth of loans proposed to MSMEs
- 2% interest subvention for GST-registered MSME on fresh or incremental loans
- Investment by FIIs and FDIs in debt securities in infrastructure debt funds to be allowed. Minimum public shareholding in listed companies can be increased from 25% to 35%
- Global Investors Meet to happen in India
RRB has announced result of stage 1. Check RRB JE Result 2019 here : https://www.sarkariservices.com/rrb-je-result-2019/