Economy One-Liners for various competitive examinations
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Here are some important Economy one-liners for students competing for various exams
Watch some of the important Economy Bits below.
1-Hilton Young Commission (Royal Commission) Commission recommended the formation of Reserve Bank of India (RBI)
2- Reserve Bank of India (RBI)is known as Banker’s Bank
3- Reserve Bank of India introduced the Banking Ombudsman Scheme
4-Cash reserve Ratio (CRR) is a number of funds that the banks have to keep with the RBI.The RBI uses the CRR to drain out excessive money from the system.
5-Reverse Repo rate is the rate at which the RBI borrows money from commercial banks.
It is also a tool which can be used by the RBI to drain excess money out of the banking system.
6-The rate at which the RBI lends money to commercial banks is called repo rate.
The repo rate in India is similar to the discount rate in the US.
7- Statutory Liquidity Ratio is determined and maintained by the Reserve Bank of India in order to control the expansion of bank credit.
It refers to the amount that the commercial banks require to maintain in the form of gold or govt. approved securities
8-ATMs- Automated Teller Machines; WLAs- while-label ATMs; NDTL- Net Demand and Time Liabilities
9-C.D.Deshmukh was the first Indian RBI Governor
10-The Headquarters of Reserve Bank of India (RBI) moved to Mumbai in 1937
11- Sir Osborne Smith was the First Reserve Bank of India (RBI) Governor
12-Reserve Bank of India (RBI) formed on April 1, 1935
13-The first Headquarters of Reserve Bank of India (RBI) was in Kolkata
14-Reserve Bank of India (RBI) was Nationalised in 1949
15-The census in India is done after a gap of every 10 yrs.
16-National Sample Survey Organisation (NSSO) was established in 1950
17-Focus Market Scheme introduced in 2006-07
18-The full form of ‘NBFC’ as used in the financial sector is New Banking and Finance Corporation
19- Gilt-edged market means the market for government securities
20- Reserve bank Of India promoted securities Trading Corporation of India Limited (STCI) jointly with the Public sector Banks
21-Devaluation of a currency means reduction in the value of a currency vis-a-vis major internationally traded currencies
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