...WEBSITES: DRT Cases • DRTC is the only Journal available, devoted exclusively to DRT cases. • DRTC published in monthly parts provides in full text, the most systemic access to cases by the Supreme Court, High Courts, DRAT & DRT’s. • DRTC is a current record of the latest substantive cases on the DRT Auction Sale, Bank & Customer, Banking Frauds, Cheating, Banking relating to Companies, Partner-ship, Proprietorship, Central & Financial Corporation Act, Dishonour of Cheques, Debt Laws, Embezzle-ment, Hypo-thecation. Interest Act, Selected cases under Banking Regulation Act, Negotiable Instruments Act, BIFR, AAIFR, MRTP Commissions, SEBI, SICA, State Recoveries of Dues Act and several Allied Act making this an essential reading for Practitioners, Financial Institutions, Banks, Corporate Sector wth an invaluable reference source of developments in matters related to the above topics. • Fast access to information. • Each issue contains up to 20 decisions with full text every Judgment. • Almost all reportable / non-reportable judgements, decisions delivered by Debt Recovery Appellate Tribunals and DRT’s. • Cases are clearly presented ith catch words and concise head notes summarizing the judgments clearly and accurately. • Cross – references are given to other major legal decisions delivered by the Supreme Court & various High Courts. Accurate Case Reporting of land mark case, with topical Index, Subject Index & Important Law Point and the background of the case, the judgement...
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...under this 100% provision is made. When account holder comes in this category their account can be written off by the banks. Types of NPA: * Gross NPA: reflects the quality of the loan made by the banks. * Net NPA: reflects the actual burden of the banks. The main reason behind NPA would be lack of proper enquiry by the bank, wilful defaulter, change in government policies etc. which could affect the bank by restriction on flow of cash by the bank for sanctioning a loan, drain of profit, bad affects on goodwill, etc. There are different acts and institution for the NPA recovery like SARFAESI ACT, 2002; SARC; ARC; DRT; Lokadalats; etc. Current status of NPA in Indian banking system: analysis of the RBI NPA data demonstrates interesting recovery trends by Legal Channels. The NPA involved has increased for all three channels: Lok Adalats, DRTs (Debt Recovery Tribunals), SARFAESI Act. However, the highest year-on-year increase has been with the Lok Adalats (c 80% per annum over last two years). The amount recovered by Lok Adalats...
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...4/28/2015 Sarfaesi act Essay Sanay1988 What is Sarfaesi? The Securitization & Reconstruction of Financial Assets & Enforcement of Security Interest Act,2002 (SARFAESI) empowers banks /financial institutions to recover their nonperforming assets without intervention of court. The Act provides 3 alternate methods for recovering of NPA namely Securitization Asset Reconstruction Enforcement of security without intervention of court Provisions of this Act are applicable only for NPA loans with outstanding balance above 1 lakh rupees. NPA loan accounts where the amount is less than 20% of the principal and interest are not eligible to be dealt with under this Act. NPAs should be backed by securities charged to the bank by way of hypothecation or mortgage or assignment.Security interest by way of lien,pledge,hire purchase and lease not liable for attachment under Sec 60 of CPC ,are not covered under this Act. Strengths of the Act The Act empowers the Bank: 1.To issue demand notices to the defaulting borrower and guarantor,calling upon them to discharge their dues in full within 60 days from the date of notice. 2.To give notice to any person who has acquired any of the secured assets from the borrower to surrender the same to the bank. 3.To ask any debtor of the borrower to pay any sum due or becoming due to the borrower. If the borrower fails to comply with the notice,the Bank may take recourse to one or more of the following measures 1.Take possession of the security...
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...What is Banking Ombudsman (BO)? * He hears customers’ complaints against banks. * BO was first setup in UK. * In India, RBI started this scheme in 1995. Appointment & Tenure * Earlier RBI used to appoint reputed persons from banking, finance, management, legal etc. sectors as Banking Ombudsmen (BO). * But now RBI has reserved this BO post for its own Chief General Managers and General Managers. * Tenure: 3 years at a time. * Reappointment: yes possible. Jurisdiction * Banking Ombudsman (BO) Scheme applies to whole of India (including Jammu and Kashmir). Banking Ombdusmen have jurisdiction over 1. All commercial banks (scheduled and non scheduled, public and private) 2. Regional rural banks 3. scheduled primary co-operative banks 4. NBFCs (BO’s Jurisdiction limited to “loan” part.) * BO is not a replacement of Consumer forum/courts. He merely supplements them. * BO deals with matters less than or equal to Rs.10 lakhs. * Here are some examples situation where BO can help you: Regular banking 1. Demand draft, cheques, pay orders etc. not issued on time. (or not paid on time) 2. Credit card related complaints (e.g. bank putting hidden charges. Your credit card was stolen but bank did not disable it even after you called them.) 3. You asked the bank to close your account / credit card but they are not doing it. 4. Bank refuses to open your account without giving valid reasons. 5. Bank closes down your account without valid...
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...of their NPAs. It is only since a couple of years that this particular aspect has been given so much importance. The banks have to overcome these difficulties properly in order to effectively counter the competition faced by the foreign banks. With the framing of laws as per international standards and setting up of Debt recovery tribunal we can say that steps have been taken in this direction. Banks in India have traditionally been saddled with very high Non-Performing Assets. Banks burdened with huge NPA’s faced uphill tasks in recovering then due to archaic laws and procedures. Realizing the gravity of the situation the government was quick to implement the recommendations of the Narsimham Committee leading to the enactment of the SARFAESI ACT 2002. (Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act). This Act gave the banks the much needed teeth to curb the menace of NPA’s. The non performing assets (NPAs) of banks have at last begun shrinking. As reported from surveys, it is understood that there has been substantial improvements in non performing assets and this has been because of several measures such as formation of asset reconstruction companies, debt restructuring norms, securitization, provisioning norms and prudential norms for income recognition. We also give our suggestions as to how NPA retrieval can be made easy and in what way the NPA scenario is headed. The problem is no doubt about recovery management...
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...Banking Awareness Study Material Shared by Rajesh Kumar and Bhavya Vadudevan www.Gr8AmbitionZ.com your A to Z competitive exam guide Page 1 Banking Awareness Study Material - powered by Gr8AmbitionZ.com Indian Banking Structure a) b) c) d) e) Central Bank (RBI) Specialised Banks Commercial Banks Development Banks Co-operative Banks Specialised Banks: NABARD: National Bank for Agriculture and Rural Development. This bank is meant for financing the agriculture as well as rural sector. It actually promotes research in agriculture and rural development. EXIM Bank: Export Import Bank of India. This bank gives loans to exporters and importers and also provides valuable information about the international market. If you want to set up a business for exporting products abroad or importing products from foreign countries for sale in our country, EXIM bank can provide you the required support and assistance. SIDBI: Small Industries Development Bank of India. This bank provides loans to set up the smallscale business unit / industry. SIDBI also finances, promotes and develops small-scale industries whereas IDBI (Industrial Development Bank of India) gives loans to big industries. Gr Commercial Banks: Normal banks are known as commercial banks, their main function is to accept deposits from the customer and on the basis of that they grant loans. (Loans could be short-term, mediumterm and long-term loans.) Commercial banks are further classified into three types...
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...Banking Sector Module NATIONAL STOCK EXCHANGE OF INDIA LIMITED Test Details: Sr. No. Name of Module Fees (Rs.) Test Duration (in minutes) 120 120 120 120 120 120 105 105 120 120 120 120 120 120 120 120 120 No. of Questions Maximum Marks Pass Marks (%) 50 50 50 50 50 50 60 50 60 60 60 60 60 60 60 60 50 Certificate Validity 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Financial Markets: A Beginners’ Module * Mutual Funds : A Beginners' Module Currency Derivatives: A Beginner’s Module Equity Derivatives: A Beginner’s Module Interest Rate Derivatives: A Beginner’s Module Commercial Banking in India: A Beginner’s Module Securities Market (Basic) Module Capital Market (Dealers) Module * Derivatives Market (Dealers) Module * FIMMDA-NSE Debt Market (Basic) Module Investment Analysis and Portfolio Management Module Fundamental Analysis Module Banking Sector Module Insurance Module Macroeconomics for Financial Markets Module NISM-Series-I: Currency Derivatives Certification Examination NISM-Series-II-A: Registrars to an Issue and Share Transfer Agents – Corporate Certification Examination NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents – Mutual Fund Certification Examination NISM-Series-IV: Interest Rate Derivatives Certification Examination NISM-Series-V-A: Mutual Fund Distributors Certification Examination * NISM-Series-VI: Depository Operations Certification Examination NISM Series VII: Securities Operations and Risk Management Certification Examination Certified...
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...Bankers 1. RBI Act 1934 2. Banking Regulation Act 1949 3. Negotiable Instrument Act 1881 4. Indian Contract Act 1872 5. Indian Partnership Act 1932 6. The Companies Act 1956 7. Consumer Protection Act 1986 8. Banking Ombudsman Act 2006 9. Transfer of property Act 1882 10. Foreign Exchange Management Act 1999 11. Indian Stamp Act 1899 12. Code of Civil Procedure 1908 13. Banker’s book Evidence Act 1891 14. Information Technology Act 2000 15. Right to Information Act 2005 16. Recovery of Debt Due to Banks And Financial Institutions Act 1993 (DRT Act) 17. Securitisation & Reconstruction of Financial Assets and Enforcement of Security interest Act 2002 (SARFAESI Act 2002) Indian Contract Act 1872 Who is competent to contract – Sec 11 Every person is competent to contract who is of the age of majority according to the law to which he is subject and who is of sound mind and is not disqualified from contracting by any law to which he is a Subject A minor is a person who has not attained majority. According to Sec 3 of Indian Majority Act 1875, a minor is a person who has not completed 18 years of age. Where a guardian has been appointed by court (for minor’s person or property or both) , the minor attains majority on completion of 21 years. A contract with a minor is void ab-initio (Right from inception) Contract with a minor is void but minor’s discharge...
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...A Survey analysis for the scopes of securitization in India Submitted By Group 8, Section 2 – Shitiz Singhal Shivam Goel Siddharth Sagar Subrat Singh Sumit Mittal Surya Kiran Sharma A Survey analysis for the scopes of securitization in India Introduction to securitization Financial sector’s primary role is intermediation between ultimate savers and ultimate investors. Initially, it was banks which were the intermediaries. As the financial sector evolved, other types of financial institutions came on the scene to undertake such intermediation directly, or between and among other intermediaries. A parallel development is the emergence of varieties of financial products, far removed from simple deposits and advances, delivering such intermediation. Securitization, as we all know, is among the latest of such intermediating product. Securitization is basically defined as a financial practice of taking illiquid assets and pooling various types of contractual debts like residential mortgage, commercial mortgages, auto loans, credit card debt obligations and selling them as securities to third party investors which may be described as bonds, pass-through securities, or collateralized debt obligations (CDOs). Securitization helps in diversifying the credit market as the process of lending and borrowing is broken into several discrete leading to economies of scale. Consider the case of a limited company and its financing advantages over a partnership firm. A partnership...
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...Budget 16-17 HIGHLIGHTS OF UNION BUDGET 2016-17 Growth of Economy accelerated to 7.6% in 2015-16. India hailed as a ‘bright spot’ amidst a slowing global economy by IMF. Robust growth achieved despite very unfavourable global conditions and two consecutive years shortfall in monsoon by 13% Foreign exchange reserves touched highest ever level of about 350 billion US dollars. Despite increased devolution to States by 55% as a result of the 14th Finance Commission award, plan expenditure increased at RE stage in 2015-16 – in contrast to earlier years. ROADMAP & PRIORITIES 'Transform India' to have a significant impact on economy and lives of people. Government to focus on – ensuring macro-economic stability and prudent fiscal management. boosting on domestic demand continuing with the pace of economic reforms and policy initiatives to change the lives of our people for the better. Focus on enhancing expenditure in priority areas of - farm and rural sector, social sector, infrastructure sector employment generation and recapitalisation of the banks. Focus on Vulnerable sections through: 1. Pradhan Mantri Fasal Bima Yojana 2. New health insurance scheme to protect against hospitalisation expenditure 3. facility of cooking gas connection for BPL families FISCAL DISCIPLINE Fiscal deficit in RE 2015-16 and BE 2016-17 retained at 3.9% and 3.5%. Revenue Deficit target from 2.8% to 2.5% in RE 2015-16 Total expenditure projected...
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...Legal Blog: Doctrine of Repugnancy : The Law Legal Blog The Legal BlogLex Crawler : The Best Legal Search EngineSubmit your Legal QueriesBare ActsAdvertise with UsContact Us Legal Blog on the Social Networks .......................Follow Us on Twitter ...Become a fan in Facebook... Add This to Buzz... Add Linkedin... RSS Feed.... Follow NLD Wednesday, August 24, 2011 Doctrine of Repugnancy : The Law Justice M.K. Sharma Supreme Court of India The Supreme Court in Zameer Ahmed Latifur Rehman Sheikh Vs. State of Maharashtra has examined the law relating to the Doctrine of Repugnancy. In essence, Part XI of the Indian Constitution describes the legislative relations between the States and the Centre. Further, Article 254 establishes the doctrine of Repugnancy which acts as a safeguard to solve disputes arising between the states and the Union. The term ‘Repugnancy’ means inconsistency between the State-made law and the Union-made law. The relevant extracts from the judgment are reproduced hereunder; 46. Before we proceed to analyze the said aspect, it would be appropriate to understand the situations in which repugnancy would arise. 47. Chapter I of Part XI of the Constitution deals with the subject of distribution of legislative powers of the Parliament and the legislature of the States. Article 245 of the Constitution provides that the Parliament may make laws for the whole or any part of the territory of India, and the legislature of a State may make laws...
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...SBI PO SOLVED EXAM PAPER 2008 - General Awareness & Computer Knowledge 1. Which of the following statement (s) reflects India’s stand on new World Trade Organization’s proposal on the issue of the subsidy to agro products ? (1) India would protect the interest of its poor farmers who can not bear the burden of the cost of the products if they have to sell them on cheaper rate. (2) Indian industry needs more flexibility as compared to the industry in developed countries. (3) WTO has set up a new committee under the chairmanship of Putin of Russia to look into the issue of subsidy and find out a solution to the problem acceptable to all the parties. (A) Only 1 (B) Only 2 (C) Only 3 (D) Both 1 & 2 (E) None of these ANS (A) 2. Which of the following statement (s) is / are true about the 11th five year plan of India ? (1) The highest priority is given to exports , education and development of steel sector. (2) The plan aims at achieving the growth at 10 % level by the end of the plan. (3) The Rashtriya Krishi Vikas Yojana is revived in such a way so that it can be achieve a growth nof 4 % for agriculture sector. (A) Only 1 (B) Only 2 (C) Only 3 (D) Both 1 & 2 (E) None of these ANS (D) 3. As per the figures released recently the Stock markets in emerging economies made handsome returns last year (2007-08). Which of the following stock markets amongst the BRIC nations registered highest increased (97 %) compared to its performance in 2006-07 ? (A) Cina (B) Brazil ...
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...CBM Course Outline For Session 2012 - 13 ------------------------------------------------- Batch: PGDM 2011 - 13 Term: IV ------------------------------------------------- ------------------------------------------------- Course: Commercial Bank Management (CBM) Credits: 3 ------------------------------------------------- ------------------------------------------------- Course Instructor: Prof. D N Panigrahi Objectives of the course: The course inputs are designed to accomplish the following objectives. * To help students to understand the role and functions of Commercial Banks, main strategic issues in retail and corporate banking and the risks faced by the Banking Industry in India. * To familiarise the students with the new Banking Practices and Processes including new banking technologies. * To familiarise the students with the legal and regulatory framework for banks in India. * To equip the students with the tools and techniques used in interpreting and evaluating the performance, profitability, productivity, and efficiency of the Commercial Banks. * To equip the students with the in-depth knowledge of Bank Financial Management Process including Treasury, Investment, Asset Liability Management & Risk Management. * To equip the students with the in-depth knowledge and skills in Credit Analysis & Appraisal Processes relating to the banks’ lending decisions like Working Capital Financing, Term Loan &...
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... * Difference between Cheques, DD, Bill of Exchanges and Certificate of Deposit ? * Direct and Indirect Taxes In India. * Important People of India - Chief of Planning Commission and Election Commission Etc. CM and Governors of All States. * Where you want to see yourself after 5 Years? * Your Strengths and Weakness ? * RBI's Role in Economy. * If you get a better job in Public Sector (IAS/PCS Etc.), will you leave us ? * Important Banking Terms - * GAAR (General Anti - Avoidance Rule) and GST (Goods and Service Tax) * CAR (Capital Adequacy Ratio) * Balance Sheet and NPA ? * BASEL Norms (Basel 1,2,3) * Banking Regulation Act, Money Laundering, Financial Inclusion * SARFAESI ACT...
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...Financial Company Systemically important Non Deposit taking Non Banking Financial Company Deposit taking Non Banking Financial Company Non Deposit taking Non Banking Financial Company Non Banking Financial Institutions Non-convertible debentures Net Owned Funds Non-Performing Asset Over-the-counter Public Financial Institution Priority Sector Lending Reserve Bank of India Residuary Non Banking Company Return on Assets Return on Equity Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Scheduled Commercial Bank Securitisation and Reconstruction Companies Securities and Exchange Board of India Statutory Liquidity Ratio Small and Medium Enterprise NBFC-D NBFC-ND NBFI NCD NOF NPA OTC PFI PSL RBI RNBC RoA RoE SARFAESI SCB SC&RC SEBI SLR SME 4 CONTENTS Section Numbers 1 2 3 4 5 6 7 8 9 10 11 12 13 Annex I Annex II Introduction Particulars Page Numbers 6 9 18 23 28 35 45 46 48 52 56 59 65 75 77...
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