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Hello! Monthly Current Affairs Magazine – SPOTLIGHT is Out.
Download the Monthly Current Affairs Magazine – SPOTLIGHT of September 2019.
SPOTLIGHT is designed to help you for RBI Grade B, SEBI Grade A & NABARD Grade A Exam.
SPOTLIGHT of Previous Month will be provided to you by the first week of next month. It will cover news across different sections with the Question Bank of more than 150 Questions.
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SELLING THE PHASE1 AND PHASE 2 ENTIRE COURSE FOR ₹3000. I had to give up on my RBI Gr B preparation as the notification didn't come out on the time I expected as I've crossed 30 years. contact me on my email ID - firstname.lastname@example.org RBI Gr B 2019 course - Phase 1 1) All topics in Quant covered ( videos + notes + topic wise quiz) 2) All topics in Reasoning covered ( videos + notes + topic wise quiz) 3) All topics covered for English ( videos + notes + quiz) 4) Monthly Gk digest for all bank exams since December 2018 5) RBI Gk digest since December 2018. (Includes yojana and Kurushetra magazine's summary, RBI and SEBI circulars for every month and current affairs. 6) Banking awareness ( videos + notes + quiz) 7) Financial awareness ( videos + notes + quiz) 8) Static GK (videos +notes+quiz) Phase 2 1) All topics covered in ESI. (Videos +notes+quiz) 2) All topic covered in FM (videos+notes+quiz) 3) Topics covered for English descriptive paper. (Videos + notes+ quiz) 4) Govt schemes (videos+notes+quiz) 5) Reports and Index. Test series- 15 mock tests for phase 1 and 10 mock tests for EACH subject for phase 2. Discussion board available. All the notes are in pdf and can be downloaded
New scheme for exporters: NIRVIK
Export Credit Guarantee Corporation of India (ECGC) has introduced ‘NIRVIK’ scheme to ease the lending process and enhance loan availability for exporters.
- The details of the scheme were shared by Union Minister of Commerce and Industry and Railways, Piyush Goyal on September 16, 2019, during a press conference.
- The scheme was announced by the Finance Minister Nirmala Sitharaman on September 14 as a part of measures to boost exports.
- The Export Credit Guarantee Corporation of India (ECGC) currently provides credit guarantee of up to 60 percent loss.
- The new Export Credit Insurance Scheme (ECIS) which has been named the NIRVIK scheme will raise the insurance cover guarantee to 90 percent coverage of the principal and interest.
- Half of the insurance cover will be provided within 30 days.
- The insurance cover will include both pre and post-shipment credit whereas in the present system two different documents are issued by the ECGC for both.
- Under the ‘NIRVIK’ scheme, gems, jewelry and diamond(GJD) sector borrowers with a limit of over Rs 80 crore will have a higher premium rate in comparison to the non-GJD sector borrowers of this category due to the higher loss ratio.
- The scheme is being introduced for a period of 5-years and when the time period is over, the standard ECGC covers will be made available to the Banks with its regular features.
- For accounts with limits below Rs 80 crore, the premium rates will be set at 60 per annum and for those exceeding Rs80 crore, the rates will be fixed at 0.72 per annum for the same enhanced cover.
- The inspection would be waived for up to ₹10 crore. But the inspection of bank documents and records by ECGC officials is mandatory in case of losses of more than Rs.10 crore as against the present Rs 1crore.
IMPORTANT UPDATE FOR RBI GR B 2019 . (LIKE PAGE FOR MORE FREE UPDATE)
Swachhata Hi Seva (SHS) 2019
The Prime Minister, Shri Narendra Modi launched Swachhata Hi Seva (SHS) 2019, a massive countrywide awareness and mobilization campaign on Swachhata at Mathura today. SHS 2019, with special focus on ‘plastic waste awareness and management’ is being organized from 11th September to October 2nd 2019, as the Swachh Bharat Mission (SBM) is poised to dedicate an ODF India to Mahatma Gandhi on his 150th birth anniversary. The launch of SHS was organized jointly by the central Departments of Animal Husbandry and Dairying and Drinking Water and Sanitation and the Government of Uttar Pradesh.
The Prime Minister also visited the Pashudhan Arogya Vigyan Mela, where he saw cows being operated upon to remove plastic waste from their stomachs. He then interacted with a group of women from Uttar Pradesh who segregate plastic waste into recyclables and non-recyclables, and in a unique gesture, also participated in the segregation activity himself.
Addressing an audience of about 20,000 farmers, sarpanches, women groups and swachhagrahis, the Prime Minister urged all citizens to free their houses, offices and work space from single use plastic. Drawing people’s attention to the hazardous effects of such plastic for the environment, and for the health of animals and aquatic life, he reiterated his appeal to use cloth or jute bags while going out for shopping and to use metal or earthen glasses for serving water in offices. He asked people to collect all the plastic waste from their surroundings at an identified place and to ensure its safe disposal with the support of the local administration during the Swachhata Hi Seva.
Addressing the gathering, Chief Minister of Uttar Pradesh, Shri Yogi Adityanath applauded the positive impacts of the SBM and highlighted the contribution of SBM in dealing with the menace of deadly disease Encephalitis in eastern UP. He added that the significant increase in the sanitation coverage under SBM will now be leveraged for achieving the goal of plastic waste free India on the lines of ODF India.
Speaking on the occasion, Shri Gajendra Singh Shekhawat, Union Minister of Jal Shakti said that the entire world is eagerly waiting for the day when India becomes ODF. He said that the SHS 2019 campaign would give a big boost to generate mass awareness on plastic waste and its subsequent collection, recycling and disposal, and will be a new Jan Andolan for protecting environment under the inspiring leadership of the Prime Minister.
Union Minister of Fisheries, Animal Husbandry and Dairying, Shri Giriraj Singh, Minister of State, Jal Shakti, Shri Rattan Lal Kataria, other ministers from the State and local MP and MLAs also participated in the event.
This year’s Swachhata Hi Seva will see mass awareness generation activities on plastic waste management between 11th September to 1st October, nationwide Shramdaan for plastic waste collection and segregation on 2nd October, and recycling and effective disposal of the collected plastic waste from 3rd October to Diwali, 27th October 2019. The Prime Minister has also written personal letters to all Sarpanches and Swachhagrahis, motivating them make the Swachhata Hi Seva 2019 a grand success. These letters were read out today at special Gram Sabhas across the country.
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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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