The oldest existing insurance company in India is the National Insurance Company, which was founded in 1906, and is still in business.

Repo Rate is the rate at which commercial banks borrow funds from RBI. A reduction in the repo rate will help banks to get money from the central bank at a cheaper rate. When the repo rate increases borrowing from RBI becomes more expensive.
A value of (0) for Gini Coefficient in a country implies that there is perfect equality in the system. If the value is 1 then there is complete inequality in the country.

National Housing Bank has been set up under the National Housing Bank Act of 1987, which was passed on 9th July, 1988. It is wholly owned by the Reserve bank of India and was created to encourage housing, finance institutions and provide them with financial support.

Shangai – Shcomp; Singapore – SIMEX, Straits Time. Shcomp is a composite index of Shanghai Stock exchange. SIMEX and Strait Times are indicators for Singapore.

A non-banking financial company (NBFC) is a company registered under the Companies Act, 1956 and is engaged in the business of loans and advances, acquisition of shares/stock/bonds/debentures/ securities issued by government or local authority or other securities of like marketable nature, leasing, hire-purchase, insurance business, chit business, but does not include any institution whose principal business is that of agriculture activity, industrial activity, sale/purchase/construction of immovable property. They cannot accept demand deposits like commercial banks as they are not a part of clearance and settlement system.

Bear is a speculator who sells shares in anticipation of fall operator prices to buy them back and thus make a profit.

It is fixed by Reserve Bank of India. In 2011, RBI permitted the commercial banks to fix interest rate on saving account independently.

The Banking ombudsman Scheme is an expeditious and inexpensive forum for bank customers for resolution of complaints relating to certain services rendered by banks. Any person aggrieved by the decision of the Banking Ombudsman can approach the Appellate Authority. The Appellate Authority is vested with a Deputy Governor of the RBI.

“Financial inclusion” is the delivery of financial services at affordable costs to vast sections of disadvantaged and low income groups. Banking services are in the nature of public good. It is essential that availability of banking and payment services be available to the entire population without discrimination.

Miscellaneous functions of commercial banks in India include : Transfer and collection of funds, purchase and sale of shares on behalf of customers, acting as executors and transfers of wills, purchase and sale of foreign exchange etc.

International Development Association (IDA) , is that part of the World Bank that helps the world’s poorest countries. It complements the World Bank’s other lending arm— the International Bank for Reconstruction and Development (IBRD) which serves middle-income countries with capital investment and advisory services. IDA was created in 1960.

The basic aim of Lead Bank scheme is that the bank should adopt particular districts for intensive development by offering loans and banking services.

The Reserve Bank of India is the main monetary authority of the country and beside that, in its capacity as the central bank, acts as the bank of the national and state governments.

A tight monetary policy is a course of action undertaken by Central bank to constrict spending in an economy, or to curb inflation when it is rising too fast. The increased bank rate increases the cost of borrowing and effectively reduces its attractiveness.

Land development bank started financing long term loan for more significant rural development activities like rural and cottage industries, rural artisans etc. The main purpose of RRB’s is to mobilize financial resources from rural / semi-urban areas and grant loans and advances mostly to small and marginal farmers, agricultural labourers and rural artisans. NABARD doesnot give “direct” credit assistance. It provides credit Via intermediaries such as Microfinance companies, Cooperative society, RRB.

Those who benefit from higher inflation are debtors and those who suffer from it are creditors. If one has substantial debt, each rupee one has to repay would be worth less than when it was borrowed. In this way, one pays back less in real terms.

Currency/cash is the most liquid, then the demand deposits (current accounts), then the saving deposits with bank and finally the least liquid is the time deposits with the bank (fixed deposits).

Besides giving access to banking, it also enables government subsidies and social security benefits to be directly credited to the accounts of the beneficiaries, enabling them to draw the money from the bank saathi or business correspondents in their village itself.