BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Indian-Creditor Agreement
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Inter-Cash Agreement
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Inter-Creditor Agency
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Inter-Creditor Agreement
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Detailed explanation-1: -Last year, over two dozen lenders, led mostly by state-run banks, signed the inter-creditor agreement (ICA) under ‘Project Sashakt’ to speed up the resolution of stressed assets that are under the Rs 500 crore bracket.
Detailed explanation-2: -What was the purpose of Inter-Creditor Agreement signed by Indian banks and financial institutions recently? To lessen the Government of India’s perennial burden of fiscal deficit and current account deficit.
Detailed explanation-3: -The minimum paid-up voting equity capital for a bank shall be 500 Crore Rupees for universal banks and 200 Crore Rupees for small finance banks. And any addition to this capital will be based upon the plan presented by the promoters of the bank to the RBI.
Detailed explanation-4: -(Pre19-SetA) Q72. What was the purpose of the Inter-Creditor Agreement signed by Indian banks and financial institutions recently? (d) To aim at faster resolution of stressed assets of Rs 50 crore or more which are under consortium lending.