Q1. What is RTGS System?
Ans. The acronym 'RTGS' stands for Real Time Gross Settlement,
which can be defined as the continuous (real-time) settlement of funds
transfers individually on an order by order basis (without netting).
'Real Time' means the processing of instructions at the time they are
received rather than at some later time; 'Gross Settlement' means the
settlement of funds transfer instructions occurs individually (on an
instruction by instruction basis). Considering that the funds settlement
takes place in the books of the Reserve Bank of India, the payments
are final and irrevocable.
Showing posts with label GA/GS Notes. Show all posts
Showing posts with label GA/GS Notes. Show all posts
FLAGSHIP SCHEMES OF GOVERNMENT
FLAGSHIP SCHEMES OF GOVERNMENT
1. BHARAT NIRMAN:
Componets-1. Road 2. Irrigation 3. Drinking Water 4. Electricity 5. Houses 6. Communicaton
• It was implemented and extended in three phases i.e., from (2005 - 2009), (2009 - 2012), (2012- 2014)
• It is centrally sponsored scheme for the rural development of India started in September 2005.
• There are 6 objectives in this scheme
Objectives:
a) To provide all weather road connectivity to the village which have more than 1000 population in plain areas and 500 population in hilly areas.
1. BHARAT NIRMAN:
Componets-1. Road 2. Irrigation 3. Drinking Water 4. Electricity 5. Houses 6. Communicaton
• It was implemented and extended in three phases i.e., from (2005 - 2009), (2009 - 2012), (2012- 2014)
• It is centrally sponsored scheme for the rural development of India started in September 2005.
• There are 6 objectives in this scheme
Objectives:
a) To provide all weather road connectivity to the village which have more than 1000 population in plain areas and 500 population in hilly areas.
Banking Ombudsman, 2006
1. What is the Banking Ombudsman Scheme?
The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from
1995.
2. Who is a Banking Ombudsman?
The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services.
Banking Notes- Reserve Bank Of India
Dear Redaers, we are presenting Banking Notes- Reserve Bank Of India. It will help you in Banking section of exams.
Establishment
The Reserve Bank of India was established on
April 1, 1935 in accordance with the
provisions of the Reserve Bank of India Act, 1934.
provisions of the Reserve Bank of India Act, 1934.
The Central Office
of the Reserve Bank was initially established in Calcutta but was permanently
moved to Mumbai in 1937. The Central Office is where the Governor sits and where
policies are formulated.
Though originally
privately owned, since nationalisation in 1949, the Reserve Bank is fully owned
by the Government of India.
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