Financial Awareness-October(1-10) 2016

  1. RBI issues circular on Aadhaar usage in banks (Source: MINT)
  • In an attempt to encourage the use of Aadhaar, the Reserve Bank of India (RBI) said that all the banks should ensure that all new card acceptance infrastructure, deployed with effect from 1 January 2017, are also enabled for processing payment transactions using Aadhaar-based biometric authentication.
  • In 2013, the RBI had advised banks that card infrastructure has to be enabled for both EMV Chip (chip-enabled card acceptance) and PIN (personal identification number) and Aadhaar acceptance. This decision came after the recommendation of a working group established by the central bank, favouring Aadhaar as an effective alternative for additional factor of authentication for domestic transactions, subject to fulfilment of certain conditions.

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Strategy for RBI Grade B Exam

I have been selected for the interview of RBI GRADE B 2016 exam. On request of many fellow aspirants, I am sharing preparation strategy.


The pattern is as follows:

Reasoning- 60 marks Continue reading “Strategy for RBI Grade B Exam”

Corporate Governance


Corporate Governance may be defined “as a set of systems, processes and principles which ensure that a company is governed in the best interest of all stakeholders”. It is the system by which companies are directed and controlled. It is about promoting corporate fairness, transparency and accountability. The system of rules, practices and processes by which a company is directed and controlled. Corporate  governance essentially  involves  balancing  the  interests  of  the many  stakeholders  in  a  company  –  these  include  its  shareholders,  management,customers, suppliers, financiers, government and the community. Continue reading “Corporate Governance”


In the wake of declining exports, the government took various measures to boost exports in the Union Budget 2015-16 and a new Foreign Trade Policy (FTP). The Foreign Trade Policy is also known as Export-Import Policy.

A new FTP for the period 2015-20 was announced on 1 April 2015, with a focus on supporting both manufacturing and services exports and improving the ‘Ease of Doing Business’.

The new FTP aims to increase India’s exports to US$900 billion by 201920. Continue reading “EXPORT IMPORT POLICY”

Financial Awareness-September(21-30) 2016

  1. RBI plans fund to push card swipe machines (Source: ET)
  • Concerned over low use of debit cards in electronic payments, the Reserve Bank of India wants banks that are not installing card accepting machines to contribute to a fund that will subsidise installation of point of sales (PoS) terminals.
  • There are over 68-crore debit cards in India. Over a third of these have been added in the last two years following the implementation of the Jan-Dhan Yojana. But the number of PoS terminals (credit card accepting machines) has gone up marginally from 12 lakh to 14 lakh. The average debit card holder in India uses his/her card only once at a PoS machine for every 10 transactions in an ATM.
  • The proposal envisages creation of an ‘acceptance development fund’ which will subsidize installation of PoS machines with smaller merchants and in small towns and villages. The RBI has come out in support of a fund rather than mandating installation of PoS terminals for banks as some lenders are not interested in the business. Today, four lenders dominate the merchant acquisition business -State Bank of India, HDFC Bank, ICICI Bank and Axis Bank.

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Various Concepts on National Income

Income level is the most commonly used tool to determine the wellbeing and happiness of the nations and their citizens.

As the income of a single person can be measured, it can be measured for a nation and the whole world, although the method of calculating may be a little bit complex in the latter’s case.There are four ways to look at ‘income’ of an economy, although different from each other in some way, are the concepts of GDP, NDP, GNP and NNP. Continue reading “Various Concepts on National Income”