Friday, June 29, 2018

AUCTION FOR SALE (RE-ISSUE) OF GOVERNMENT STOCK (GS)

WHAT WAS THE NOTIFICATION? 
 Government of India(GoI) has notified sale(re-issue) of the Government Stocks 
 Interest: Interest will accrue on the nominal value of the Stock from the date of original / last coupon payment and will be paid half yearly. The Stock will be repaid at par on date of maturity.

WHAT ARE GOVERNMENT STOCKS/BONDS/SECURITIES? 
 One of the bonds sold by a government to finance its budget deficit (the difference between what it gets in taxes and what it spends). Government bonds are usually considered to be a very safe form of investment.
 A government security is a bond issued by a government authority with a promise of repayment upon maturity. Government securities such as savings bonds, treasury bills and notes also promise periodic coupon or interest payments. These securities are considered low-risk, since they are backed by the taxing power of the government.  The terms on which a government can sell bonds depend on how creditworthy the market considers it to be. International credit rating agencies will provide ratings for the bonds, but market participants will make up their own minds about this.

AUCTION OF GOVERNMENT OF INDIA DATED SECURITIES

WHAT WAS THE NOTIFICATION? 
 Government of India has offered to sell (re-issue) dated securities for notified amount of Rs. 15,000 crore
 The Stocks will be issued for a minimum amount of Rs. 10,000/- (nominal) and in multiples of Rs. 10,000/- thereafter.

Thursday, June 28, 2018

RBI NOTIFICATIONS

INTRODUCTION OF LEGAL ENTITY IDENTIFIER FOR LARGE CORPORATE BORROWERS 

WHAT IS AN LEI? 
 The Legal Entity Identifier (LEI) is a global reference number that uniquely identifies every legal entity or structure that is party to a financial transaction, in any jurisdiction 
 It is a unique 20 digit alphanumeric code that is assigned to a legal entity 

WHAT IS THE LEI IMPORTANT? 
 The global LEI system has been set up by regulatory authorities, including G20 and the Financial Stability Board, to address the global financial crisis 
 The LEI is designed to enable the identification and linking of parties to financial transactions in order to manage counter party risk 
 Its goal is to improve measuring and monitoring of systemic risk and support more costeffective compliance with regulatory reporting requirements

ISSUING AUTHORITY 
 Entities can obtain their LEI code from Legal Entity Identifier India Ltd.(LEIL) 
 The LEIL is a wholly owned subsidiary of Clearing Corporation India Ltd. 
 LEIL is accredited by the Global Legal Entity Identifier Foundation (GLEIF) and recognised by RBI as issuer of LEI under the Payment and Settlement Systems Act, 2007 
 Apart from the LEIL, any local operating unit accredited by GLEIF can issue LEI numbers. 
 After obtaining LEI code, banks shall also ensure that borrowers renew the codes as per GLEIF guidelines.

Wednesday, June 27, 2018

Banking Awareness

1. "Stepping into shoes of other" related with
Principle of CAUSA PROXIMA Principle of Subrogation Principle of Contribution Principle of Indemnity

2. A person must be benefited by that thing which he wants to be insured is called
Interest Insurable Interest Causa Proxima Contribution of That person

3.Supervision and Development of Insurance in India is in the hands of
SEBI Insurance Regulatory Development Authority Life Insurance Corporation of India Central Government

4.IRDA was constituted by which of the following committee's recommendations
Kumarmangalam Committee Malhotra Committee Singh Committee Sahota Committee

5. We can repeat narration by pressing
Ctrl + R Alt + R Shift + R Alt + Shift + R

Tuesday, June 26, 2018

Top Insurance Quizzes

1.Oldest (1818) life insurance company is
Postal Life Insurance Company Max Life Insurance Company Oriental Life Insurance Company Bharat Life Insurance Company

2.Insurance is listed in the constitution of India in ______scheduled as Union List subject
Eighth Ninth Seventh Tenth

3. Insurance is legislated by
Insurance Company State Government Central Government Government of India

4.Chairman of Life Insurance Corporation of India is
Arundhati Bhattacharya U K Sinha S K Roy Vimal Khanna

5.Which of the following is not the principal of insurance
Utmost Good Faith Principle of Contribution Maximization of Profit Causa Proxima

Monday, June 25, 2018

Insurance Awareness Quiz

1.Limit of FDI in Insurance sector
47% 50% 49% 51%

2.Largest Life Insurance Company in India is
The New India Assurance Company Limited Life Insurance Corporation of India (LIC) United India Insurance Company Limited National Insurance Company Limited

3.Which was oldest insurance company, found in 1906
LIC National Insurance Company Agriculture Insurance Company of India United India Insurance Comp

4.Life Insurance Corporation was found on
1 April, 1955 6 December, 1960 4 September, 1956 1 September, 1956

5.Headquarter of LIC is situated at
Kolkata Delhi Mumbai Hyderabad

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