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Business/Economy -One Liners

1-The Reserve Bank of India (RBI) recently,  designated State Bank of India (SBI) and ICICI Bank Ltd,  the country’s two largest lenders,  as Domestic Systemically Important Banks (D-SIBs).

2- Full form of CVV is – “Card Verification Value” on your credit card or debit card is a 3 digit number on VISA, MasterCard etc

3- The mobile banking app “LIME” has been launched by Axis Bank.

4– K. V. Kamath appointed as the first head of the new development bank the BRICS group.

5- Union Government has launched a seven pronged plan called Indradhanush Mission to revamp functioning of public sector banks (PSBs).

6-Foreign exchange Reserves in India are kept in the custody of Reserve Bank of India .

7- Simply click a card launched by SBI special for Online Shopping.

8- The Central Bank of India (RBI) had adopted the new Consumer Price Index (CPI) as the key measure of inflation.

9-Deposit Insurance and Credit Guarantee Corporation ( DICGC)  is a subsidiary of Reserve Bank of India.

DICGC insures all bank deposits, such as saving, fixed, current, recurring deposits for up to the limit of Rs. 100,000 of each deposits in a bank.

10-A fixed deposit (FD) is also known as Term Deposit a financial instrument provided by banks which provides investors with a higher rate of interest than a regular savings account, until the given maturity date.

The minimum deposit amount required for the FD account is Rs 1,000. There is no fixed multiple or upper limit. FD can be opened for a minimum period of 7 days up to maximum period of 10 years.

11- The full form of the term NDTL, as used in banking environment is Net Demand and Time Liability.

12- SMART Money term used for Credit Card, is an electronic wallet, that allows you to Shop, pay bills, etc.

13- China has unveiled the world’s first facial recognition ATM. The new cash machine was developed by Tsinghua University, a research
university in Beijing.

14– HDFC Bank Ltd. had launched ‘Dhanchayat‘, an educational film to raise awareness on the dangers of borrowing money from unorganised sources.

15- The full form of ECB is External Commercial Borrowing.

16-ICICI Bank has launched ‘Saral-Rural Housing Loan scheme’ for weaker sections of society.

17-Under Pradhan Mantri Jan-Dhan Yojana (PMJDY), the accidental insurance cover of Rs. 1 lakh will be provided to all the beneficiaries. Life insurance cover of Rs.30,000.

18- Rs. 1000 is the minimum and Rs. 1.5 lakh is the maximum amount to be invested under Sukanya Samriddhi Scheme.

19-The Atal Pension Yojana (APY) is open to all Indians between the age of 18 and 40. Under the scheme, the minimum monthly pension for the subscribers ranging between Rs 1000 and Rs 5000 per month.

20-India’s first International Financial Services Centre set up in Gujarat International Finance Tec-City

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