Banking
Banking Awareness Quick Revision Notes for All Banking Exams
2025-12-05 10 min read By Vedanti Academy
Banking Awareness carries 40-50 marks in Mains and is often the deciding factor. Here are comprehensive revision notes.
RBI Basics
RBI was established on April 1, 1935. Nationalized on January 1, 1949. Current Governor: Sanjay Malhotra. Key rates: Repo Rate, Reverse Repo, CRR, SLR, MSF, Bank Rate. RBI conducts monetary policy through the MPC (Monetary Policy Committee) with 6 members.
Key Financial Terms
NEFT: National Electronic Funds Transfer - Available 24x7. RTGS: Real-Time Gross Settlement - Min Rs. 2 lakh. IMPS: Immediate Payment Service - 24x7, max Rs. 5 lakh. UPI: Unified Payments Interface - Instant transfer up to Rs. 1 lakh (Rs. 5 lakh for some banks).
Important Government Schemes
- PM Jan Dhan Yojana - Zero balance savings accounts
- MUDRA Yojana - Loans for micro enterprises (Shishu, Kishore, Tarun)
- Stand-Up India - Loans for SC/ST and women entrepreneurs
- PM SVANidhi - Micro credit for street vendors
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