BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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New Product Scheme
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Nominal Pension Scheme
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New Pension Service
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New Pension Scheme
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Detailed explanation-1: -Synopsis. NBFCs with asset size of Rs 500cr and above and have made a net profit in the preceding financial year. The Reserve Bank of India has allowed systematically important non-banking finance companies to offer the new pension scheme (NPS).
Detailed explanation-2: -All NBFCs – ND with an asset size of Rs. 500 crore and more as per the last audited balance sheet will be considered as a systemically important NBFC–ND (NBFC-ND-SI).
Detailed explanation-3: -Residuary Non-Banking Company is a class of NBFC which is a company and has as its principal business the receiving of deposits, under any scheme or arrangement or in any other manner and not being Investment, Asset Financing, Loan Company.
Detailed explanation-4: -RBI’s main responsibilities include serving as a banker’s bank, custodian of foreign reserves, credit controller, and managing the country’s printing and distribution of currency notes. Answer: The money market serves three main purposes. It acts as a balancing mechanism for short-term fund demand and supply.