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National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the Reserve Bank of India (RBI). Started in November 2005, the setup was established and maintained by Institute for Development and Research in Banking Technology. [1]
In January 2020, Patra was appointed a Deputy Governor of the Reserve Bank of India by the Appointments Committee of the Cabinet—on the recommendation of the Cabinet Secretary-headed Financial Sector Regulatory Appointment Search Committee [6] —for a period of three years, succeeding Viral Acharya, who had resigned in July 2019.
The RBI regulates this ratio so as to control the amount a bank can lend to its customers. For example, an individual wants to buy a car using borrowed money and the car's value is ₹1 million. If the LTV is set to 70% he can borrow a maximum of ₹700,000. The RBI can decrease or increase to curb inflation or deflation respectively.
Public Sector Undertakings (Banks) are a major type of government-owned banks in India, where a majority stake (i.e., more than 50%) is held by the Ministry of Finance (India) of the Government of India or State Ministry of Finance of various State Governments of India.
The Securities and Exchange Board of India (SEBI) was first established in 1988 as a non-statutory body for regulating the securities market.Before it came into existence, the Controller of Capital Issues was the market's regulatory authority, and derived power from the Capital Issues (Control) Act, 1947. [6]
Prime Minister Narendra Modi chairing a video conference with the state Chief Ministers on May 11, 2020. The Indian state governments have responded to the COVID-19 pandemic in India with various declarations of emergency, closure of institutions and public meeting places, and other restrictions intended to contain the spread of the virus.
Priority sector lending is lending to those sectors of the economy which may not otherwise receive timely and adequate credit. This role is assigned by the Reserve Bank of India to the banks for providing a specified portion of the bank lending to few specific sectors like agriculture and allied activities, micro- and small enterprises, education, housing for the poor, and other low-income ...
The 2020 United States Olympic trials for track and field were staged in Eugene, Oregon, having been moved from the initially selected Hilmer Lodge Stadium in Walnut, California. [1] This was first major event for the redesigned and rebuilt Hayward Field .