All about Kisan Vikas Patra Scheme- KVP Features and Liquidity

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Kisan Vikas Patra is saving scheme that was issued by the government of India that doubles money within Eight Years and four months’ time period. The Directorate of small Saving Government of India that sells these saving bonds through all post offices in the country so that the scheme can be accessed by citizens from all over the country. Kisan Vikas Patra can be enchased after two and half years from the date of release at the value it has been bought and the interest accrued for the period.

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Important facts about KVP:

  1. In case of Kisan Vikas Patra Scheme, The Invest amount would get doubled in 100 months or 8 years and four months.
  2. So, Investor would not get any tax benefit for their investment in Kisan Vikas Patra unlike PPF. KVPs would be giving a return of 8.7 % annually.
  3. In case of Kisan Vikas Patra certificates would be provide in the denominations of Rs. 1000, 5000, 10000 and 50, 000 and there will be no upper limit in case of KVPs.
  4. KVP Certificates can be encashed after a Lock-in period of 30 months or 2 years and 6 months , so investor can withdrawal in any block of six months.
  5. KCP Certificates can be released in single or joint names; it can be transfer one person to other persons many times.
  6. In case of KVPs, the facilities of transfer from one post office to another post office anywhere in India and of information will be available.
  7. KVPs Certificates can also pledged as security to avail loans from the banks.
  8. In earlier, KVP Certificate will be sold through post office, but now it will be made available to the through designated branches of nationalized banks.

Some features of new KVP Scheme in brief:

  • Interest – 8.7 percent
  • Time period – 8 years and four months
  • Investment amount will be doubled in 100 months
  • In case of KVP scheme, Minimum Lock-in period two years and six months.

Liquidity of KVPs:

  • KVPs Certificates can be encashed in eight equal monthly installments after lock-in period
  • KVP Certificate can be transferred to another person by endorsement and delivery
  • KVP Certificate can also be given as collateral for loans by banks
  • In case of KVP, Minimum investment Rs.1000. thereafter in denominations of Rs.5000, Rs. 10000and Rs.50000. There will be no maximum limit.
  • Fully taxable
  • Way of investment –Cash or Cheque
  • In Case of KVPs, Known your customer (KYC) norms: PAN card not required but identity and address proof required.

Banking Awareness Study Material- Important point related to NABARD and NPA

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Important Point about NABARD:

  1. National Bank for Agriculture and Rural Development is shortly known as NABARD, It was established on 12 July 1982.
  2. National Bank for Agriculture and Rural Development (NABARD) is apex development bank in India, set up at Mumbai.
  3. National Bank for Agriculture and rural Development (NABARD) was established on the recommendation of Sivaraman Committee on 12th July 1982 at Mumbai.
  4. The Chairman of NABARD Apex development bank Dr.Harsh Kumar Bhanwala
  5. NABARD was established by the Central bank of India (RBI) under the championship of Shri B.Srivaraman.
  6. National bank of Agriculture Development bank (NABARD) was organized by replacing the Agricultural Credit Development (ACD) and Rural Planning and Credit cell (RPCC) of Central bank of India (RBI).

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Main Function of NABARD Apex Development bank in details:

  1. It is providing service to rural India by enhancing the credit flow for evaluation of agriculture and rural area.
  2. It was formed with initial capital of Rs.100 Cr now which increased to almost 2000 Cr. It is fully organized by the Government of India and Central bank of India.
  3. NABARD Apex development bank with a direction for providing and regulating credit and other facilities for the promotion and growth in agriculture field, small scale industries, cottage and rural small industries and other rural activities in rural area.
  4. It is providing integrated rural Development program.
  5. NABARD works on development Women and Children in rural areas, like NABARD organization prepared guidelines for promoting group activities under the programme and also provides 100 percent refinance support.
  6. It is providing training cum production centers for women in rural area.
  7. NABARD organization has been implementing different foreign aided projects; these projects are assisted by World Bank group and other foreign countries organizations.

Some Important point always keeps in mind related to NABARD organization:

  1. NABARD Abbreviation – National Bank of Agriculture Rural Development bank
  2. NABARD Headquarter – Mumbai
  3. NABARD Established which Year-12 July 1982
  4. Current Chairman of NABARD organization – Harish Kumar Bhanwala
  5. In year 2007 NABARD organization has completed 25 years.
  6. NABARD recommendation by which committee: Shivaramans Committee
  7. NABARD organization is also regulated Cooperative bank as well as RRB.
  8. Recently NABARD organization announced rural innovation award to celebrate its 30th foundation day.

Net Preforming assets (NPA):

Full Details about NPA Click here

Banking Awareness Study material- Important point about SBI and SBI Associate

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Here In this article we are representing the valuable information banking awareness study material 2015. So those students are going to participate in IBPS, SBI, Clerk and PO exam must read this article. Here you can gain your knowledge about Banking awareness, Banking Terminology, all about bank and financial system, important point about SBI, PNB, Canara Bank, and other basic knowledge.

All about bank – State bank of India and Associate Bank:

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State bank of India and Associate bank – Important point always remember:

  1. State bank of India (SBI) is largest Indian bank and financial institution company in our country.
  2. Headquarter of State bank of India – Mumbai
  3. State bank of India (SBI) is state Owned bank
  4. SBI Founded -1st July 1959

                                                 History of State bank Of India:

  1. In earlier, Bank of Bengal was set up in 1806 in Kolkata. Bank of Bengal was first Presidency bank of India.
  2. Bank of Bombay in 1840 and bank of Madras these two presidency banks was established during British raj.
  3. These Presidency banks were private shareholder’s bank.
  4. British company was also contributed to the share capital of each of them.
  5. After then Presidency banks were received the exclusive right to issue paper currency in 1861 with the paper Currency act.
  6. After in 1920, these banks were replaced into the Imperial bank of India (IBI) which was established in 27 January 1921.
  7. After according to the parliament act, State bank of India Act 1955 Imperial bank of India was obtained by the central bank of India.
  8. After then Central bank of India (RBI) was replaced Imperial Bank of India as State bank of India, State bank of India act was passed in 1959.

                                           Name of the state bank of India and Associate bank:

  1. State bank of Bikaner and Jaipur (SBBJ)
  2. State Bank of Patiala (SBP)
  3. State bank of Mysore (SBM)
  4. State bank of Travancore (SBT)
  5. State Bank of Hyderabad (SBH)

                                                     Important point about State bank of India:

Important Fact about SBI Check here:

  • State bank of India is shortly known as SBI.
  • Established -1955
  • Headquarter –Mumbai
  • Current Chairman – Arundhati Bhattacharya
  • State bank of Bikaner and Jaipur were merged to form with SBBJ in 1963.
  • Total number of SBI associate bank – five
  • Total number of Foreign office -137 in 32 countries
  • State bank of India (SBI) has 43,515 ATM’s and include associate bank ATMS has 51, 491.
  • SBI has 15, 869 branches in all over India
  • Arunshati Bhattacharya is became the first lady to appointed as Chairperson of State bank of India.
  • Tagline of State bank of India (SBI)-PURE BANKING, NOTHING ELSE, WITH YOU-ALL THE WAY, A BANK OF THE COMMAN MAN “,
  • State bank of India (SBI) has opened 15000th Branch at Sooraman (Tamil Nadu)
  • State Bank of India has become first bank to open an ATM at Drass in the Jammu &Kashmir kargil region.
  • State bank of India has been become first bank to open branch in China.

                                                                          SBI Awards 

  • Best Bankers award in 2009
  • IDRBT
  • D&B Polaries (1)
  • SKOCH
  • SKOCH Corrporate Excellence
  • PC Quest
  • Edge Awards
  • Asia’s CSR Practice Awards
  • Asian BFCI Awards
  • Best Public Sector bank awards
  • Best online banking awards 2010 by IBA
  • The Best bank in cash management

Banking Awareness study material for IBPS, RRB and SBI-Banking History

Hello friends, how are you? Here we are going to talk about bank exam study material, bank exam syllabus and Bank exam previous year question paper. We know, many students are preparation for competitive exam like bank, UPSC, IAS, state exam, SSC, railways and other government exam. But now all of worrying about exam study material, exam pattern and practice set. So here we are going to provide exam study material as well as bank exam syllabus and pattern.

So here today we are providing valuable information about banking awareness study material like banking history, banking terminology, about RBI, important point about SBI, latest banking news, full details about banks and financial system in India. As you know that banking history is most important part generally asked in IBPS, SBI exam. So those students are really want gain your knowledge about bank must check this article.

Banking history brief knowledge for IBPS, SBI and RRB exam 2015:

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Banking History:

  1. The main origin of bank in India was setup in 18th century
  2. The First bank was established in India on 1770. The Name of the first bank in India was Hindustan bank of India. It was located in Calcutta under European management.
  3. After that Hindustan bank of India, In 1786 General bank of India was established.
  4. On 1806 bank of Calcutta was set up in Calcutta. And Bank of Calcutta was the first Presidency bank during the European raj.
  5. After that bank of Calcutta was changed name on 1809. It was renamed as the Bank of Bengal.
  6. On 15th April 1840, Second Presidency bank was opened in Bombay-It was named as Bank of Bombay
  7. The third Presidency bank was established in Madras named as Bank of Madras in British raj.
  8. Allahabad bank was opened in 1865 and also working today. It is the oldest bank of India and also known as one of India’s oldest stocks Bank of India.
  9. These three Banks were worked as quasi Central bank of India (RBI) for many years.
  10. HSBC bank was established in Bengal in year 1869.
  11. The Punjab national bank was established at Lahore in Punjab. It was purely managed by Indian. Punjab national bank was become second largest public sector bank in India.
  12. After established Punjab National bank, Central bank of India was set up in 1911. It was first Indian Commercial bank which was fully managed by Indians. It was also known as India’s first Swadeshi bank.
  13. After World War I, bank of Calcutta, Bank of madras and bank of Bombay were emerged to from of Imperial bank of India.later Impeial bank of india was renamned as State bank of India. State bank of India was oldest bank in India. It was was established in 1955.
  14. After that Hilton-young Commission submitted its report.
  15. Reserve bank of India act was passed in 1935 and on the recommendation of Hilton–young commission.
  16. Reserve bank of India was established on 1st April 1935 with initial capital worth Rs.5 cr with 5 lakh share.

Banking History PDF download