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IE-IFS Capsule Cards FREE An Overview of Indian Eco…
How does the World Bank classify the Indian economy?
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Lower-middle income economy based on per capita income.
Continuation:
As of 2019, India's PCI was $1891. Economies are grouped into Low, Lower-Middle, Upper-Middle, and High Income.
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441 Views
World Bank Economy Classification
An Overview of Indian Economy 441
WA 441
IE-IFS Capsule Cards FREE An Overview of Indian Eco…
What is India's global GDP ranking in terms of Purchasing Power Parity (PPP)?
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India is the 3rd largest economy in the world in terms of PPP.
Continuation:
Only USA and China are ahead of India in GDP PPP (as per 2021 data).
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359 Views
India's Global GDP Ranking (PPP)
An Overview of Indian Economy 359
WA 359
IE-IFS Capsule Cards FREE An Overview of Indian Eco…
Who coined the term 'Hindu Rate of Growth' and what does it mean?
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Prof. Raj Krishna coined it to describe the slow 3.5% annual growth rate.
Continuation:
This refers to India's planned economy's low growth from the 1950s to 1980s.
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299 Views
Hindu Rate of Growth
An Overview of Indian Economy 299
WA 299
IE-IFS Capsule Cards FREE An Overview of Indian Eco…
What were 'Home Charges' during the British control of India?
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Colonial government's official transfers of monies to the United Kingdom.
Continuation:
Included dividends to EIC shareholders, interest on loans, and pensions of British officers.
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215 Views
Home Charges in British Era
An Overview of Indian Economy 215
WA 215
IE-IFS Capsule Cards FREE Evolution of Indian Econo…
Which sector suffered the most severe contraction during the COVID-19 pandemic?
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Contact-intensive services, trade, hotels, and transport sectors.
Continuation:
Conversely, Agriculture remained robust and resilient due to exemptions from lockdown restrictions.
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176 Views
COVID-19 Economic Impact
Evolution of Indian Economy & Structural Changes 176
WA 176
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IE-IFS Capsule Cards FREE An Overview of Indian Eco…
Who published the first estimates of national income in India?
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Dadabhai Naoroji in his book 'Poverty and Un-British Rule in India'.
Continuation:
He estimated the per capita income at Rs. 20 per annum at current prices for 1867-1868.
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169 Views
First National Income Estimates
An Overview of Indian Economy 169
WA 169
IE-IFS Capsule Cards PRO Para Banking and Financia…
Banks offering PMS must keep customer funds completely separate from the bank's assets. What is the minimum tenure for accepting portfolio funds?
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166 Views
Portfolio Management Services (PMS) Rules
Para Banking and Financial Services Provided by Banks 166
WA 166
PPB Capsule Cards FREE Banker-Customer Relations…
When a customer opens a savings or current deposit account with a bank, what is the primary legal relationship established?
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The Bank is the Debtor, and the Customer is the Creditor.
Continuation:
Since the customer lends money to the bank, the bank owes the money back. The customer has no security from the debtor (bank).
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165 Views
Relationship: Deposit Account
Banker-Customer Relationship 165
WA 165
IE-IFS Capsule Cards PRO Para Banking and Financia…
Banks can act as agents for Mutual Fund companies to sell their products. What strict restriction applies to the bank regarding the purchase of these units?
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146 Views
Bank as a Mutual Fund Agent
Para Banking and Financial Services Provided by Banks 146
WA 146
IE-IFS Capsule Cards FREE Evolution of Indian Econo…
What are the three major economic shocks India faced in the last four decades?
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1991 BoP crisis, 2008 global financial crisis, and COVID-19 pandemic.
Continuation:
These shocks led to major structural shifts, reforms, and changes in growth trajectories.
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146 Views
Three Major Economic Shocks
Evolution of Indian Economy & Structural Changes 146
WA 146
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IE-IFS Capsule Cards FREE Para Banking and Financia…
Banks can undertake factoring services either departmentally or through a subsidiary. If done departmentally, what type of recourse is permitted?
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Departmental factoring services can be provided with recourse OR on a limited/without recourse basis, subject to a Board-approved policy.
Continuation:
The exposure is reckoned on the assignor for with-recourse factoring, and on the debtor for without-recourse factoring.
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141 Views
Factoring Services by Banks
Para Banking and Financial Services Provided by Banks 141
WA 141
PPB Capsule Cards FREE Banker-Customer Relations…
What is the banker-customer relationship when the bank grants a loan or advance to the customer?
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The Bank is the Creditor, and the Customer is the Debtor.
Continuation:
Lending is the core activity of banks. The borrower executes documents and offers security to the bank before utilizing the credit facility.
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120 Views
Relationship: Loan Account
Banker-Customer Relationship 120
WA 120
IE-IFS Capsule Cards FREE An Overview of Indian Eco…
According to Angus Maddison, what was India and China's global GDP share in 1000 AD?
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India and China together contributed 50.5% of the global GDP.
Continuation:
By 1947, British colonialism had reduced India's share to less than 3%.
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119 Views
Angus Maddison Database Insights
An Overview of Indian Economy 119
WA 119
IE-IFS Capsule Cards FREE Para Banking and Financia…
Banks can undertake Primary Dealership (PD) business via a subsidiary. What is the Minimum Net Owned Fund (NOF) requirement for this subsidiary?
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The minimum Net Owned Fund (NOF) required for a Primary Dealership subsidiary is Rs 1,000 crores.
Continuation:
Additionally, they must have a Minimum CRAR of 9% and Net NPAs of less than 3%, with a profit-making record for three years.
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116 Views
Primary Dealership Eligibility (NOF)
Para Banking and Financial Services Provided by Banks 116
WA 116
IE-IFS Capsule Cards PRO Para Banking and Financia…
Banks offer referral services, passing client leads to third parties for a fee. What type of products can they refer, and what is the key condition?
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116 Views
Referral Services Restrictions
Para Banking and Financial Services Provided by Banks 116
WA 116
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PPB Capsule Cards FREE Banker-Customer Relations…
What is the legal relationship between the bank and customer when valuables are deposited for safe custody?
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The Bank is the Bailee, and the Customer is the Bailor.
Continuation:
Governed by Sec 148 of the Indian Contract Act. The bank becomes the custodian and is liable for any loss caused due to its negligence.
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113 Views
Relationship: Safe Custody
Banker-Customer Relationship 113
WA 113
IE-IFS Capsule Cards PRO Para Banking and Financia…
Banks are permitted to undertake Pension Fund Management. Can this specific service be offered directly by the bank departmentally?
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111 Views
Pension Fund Management Restriction
Para Banking and Financial Services Provided by Banks 111
WA 111
PPB Capsule Cards PRO Technology Trends in Bank…
In the Account Aggregator framework, who ultimately holds the power to initiate the transfer of financial information?
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110 Views
Consent Architecture in AA
Technology Trends in Banking, e-RUPI, Fintech - RegTech, SupTech, Hashtag Banking etc. 110
WA 110
PPB Capsule Cards FREE Banker-Customer Relations…
When a bank provides a safe deposit locker to a customer, what specific relationship is formed?
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The Bank is the Lessor, and the Customer is the Lessee.
Continuation:
Governed by Sec 105 of the Transfer of Property Act. The bank is not liable for loss from natural calamities, only for its own negligence/fraud.
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109 Views
Relationship: Safe Deposit Locker
Banker-Customer Relationship 109
WA 109
IE-IFS Capsule Cards FREE An Overview of Indian Eco…
What was the impact of the 1991 LPG reforms on economic growth?
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Growth reached 6.7% in the 8th plan and 7.6% in the 10th five-year plan.
Continuation:
Driven by Liberalisation, Privatisation, and Globalisation (LPG) policies, attracting foreign capital.
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109 Views
Post-1991 Reforms Growth
An Overview of Indian Economy 109
WA 109
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PPB Capsule Cards FREE Banker-Customer Relations…
In a pledge transaction where goods are kept as security, what is the relationship between the bank and the borrower?
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Bank is the Pawnee (Pledgee), Customer is the Pawner (Pledger).
Continuation:
A pledge involves actual or constructive delivery of goods to the bank as security for a debt.
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106 Views
Relationship: Pledge
Banker-Customer Relationship 106
WA 106
IE-IFS Capsule Cards PRO Para Banking and Financia…
If a bank wants to set up a joint venture for an insurance business with risk participation (underwriting), what is the minimum net worth requirement?
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106 Views
Insurance Business Subsidiary Criteria
Para Banking and Financial Services Provided by Banks 106
WA 106
IE-IFS Capsule Cards PRO Para Banking and Financia…
Can a commercial bank directly act as an insurance broker without setting up a separate subsidiary?
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105 Views
Insurance Broking Departmentally
Para Banking and Financial Services Provided by Banks 105
WA 105
IE-IFS Capsule Cards FREE Evolution of Indian Econo…
How did India mitigate the effects of the 2008 global financial crisis?
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The government provided 3 stimulus packages totaling Rs. 1.86 lakh crore.
Continuation:
RBI also eased monetary conditions, injecting Rs 5.6 lakh crore into domestic/external liquidity.
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105 Views
2008 Global Financial Crisis Response
Evolution of Indian Economy & Structural Changes 105
WA 105
PPB Capsule Cards PRO Ethics, Business Ethics &…
When did business ethics in India gain center stage in corporate operations, and which committee was recently set up by SEBI?
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104 Views
Corporate Governance in India
Ethics, Business Ethics & Banking: An Integrated Perspective 104
WA 104
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IE-IFS Capsule Cards FREE An Overview of Indian Eco…
Which sector currently dominates the Indian economy's GDP?
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The services (tertiary) sector has largely replaced the industrial sector.
Continuation:
Agriculture's share declined from 26.9% in 1990 to under 18%, while services grew to dominance.
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104 Views
Sectoral GDP Contribution Trend
An Overview of Indian Economy 104
WA 104
PPB Capsule Cards PRO Ethics, Business Ethics &…
What is the fundamental difference between Values and Ethics in the context of banking and business?
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101 Views
Values vs Ethics
Ethics, Business Ethics & Banking: An Integrated Perspective 101
WA 101
PPB Capsule Cards PRO Ethics, Business Ethics &…
In business ethics, does the principle of fairness mean that everybody is treated equally and gets exactly what they want?
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101 Views
Principle of Fairness
Ethics, Business Ethics & Banking: An Integrated Perspective 101
WA 101
PPB Capsule Cards PRO Ethics, Business Ethics &…
Which famous leader espoused the philosophy of 'Trusteeship', and what is its core origin?
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98 Views
Philosophy of Trusteeship
Ethics, Business Ethics & Banking: An Integrated Perspective 98
WA 98
IE-IFS Capsule Cards FREE Evolution of Indian Econo…
How did India's GDP recover in the year 2021-22 after the pandemic?
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The economy rebounded, achieving an estimated growth rate of 8.9%.
Continuation:
This followed a severe contraction of 6.6% in the previous year (2020-21) due to the first wave.
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95 Views
Post-COVID GDP Recovery
Evolution of Indian Economy & Structural Changes 95
WA 95
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PPB Capsule Cards FREE Banker-Customer Relations…
If a customer deposits a cheque into their account for collection, what role does the bank play during the clearing process?
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The Bank acts as an Agent, and the Customer is the Principal.
Continuation:
According to Sec 182 of the Indian Contract Act. This relationship terminates upon death, insolvency, or lunacy of the customer.
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94 Views
Relationship: Cheque Collection
Banker-Customer Relationship 94
WA 94
IE-IFS Capsule Cards FREE Evolution of Indian Econo…
What caused the rapid deindustrialisation of India in the 19th century?
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Decline of the Mughal Empire, uncompetitive textiles, and British trade policies.
Continuation:
British-backed commercialization was motivated by self-interest, harming local artisans.
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94 Views
Deindustrialisation under British Rule
Evolution of Indian Economy & Structural Changes 94
WA 94
IE-IFS Capsule Cards PRO Para Banking and Financia…
Banks are allowed to retail Government Securities to non-bank clients. What type of trading transaction is strictly forbidden in this retail process?
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93 Views
Retailing of Government Securities
Para Banking and Financial Services Provided by Banks 93
WA 93
AFM Capsule Cards PRO Budgets and Budgetary Con…
When an organization runs a specific safety drive or a middle-management training course, what type of budget is used?
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90 Views
Programme Budgeting
Budgets and Budgetary Control 90
WA 90
AFM Capsule Cards PRO Budgets and Budgetary Con…
What is the composition and primary role of the Budget Committee in a large firm?
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89 Views
Budget Committee
Budgets and Budgetary Control 89
WA 89
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PPB Capsule Cards PRO Ethics, Business Ethics &…
What is the foremost principle of ethical banking, and what does it inspire among stakeholders?
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88 Views
Ethical Foundation: Trust
Ethics, Business Ethics & Banking: An Integrated Perspective 88
WA 88
AFM Capsule Cards PRO Budgets and Budgetary Con…
In the context of implementing budgetary control, what constitutes a 'Budget Centre'?
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87 Views
Budget Centre
Budgets and Budgetary Control 87
WA 87
AFM Capsule Cards FREE Definition, Scope & A…
What is the most widely accepted definition of Accounting given by the American Institute of Certified Public Accountants (AICPA)?
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It is the art of recording, classifying and summarising in a significant manner and in terms of money, transactions of a financial character.
Continuation:
Accountancy is a wider concept that includes bookkeeping. Bookkeeping is just recording in books of original entry and ledgers.
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87 Views
Definition of Accounting (AICPA)
Definition, Scope & Accounting Standards including Ind AS 87
WA 87
RBWM Capsule Cards PRO Other Financial Services …
What is the difference between factoring with recourse and without recourse?
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86 Views
Factoring with vs without Recourse
Other Financial Services Provided by Banks 86
WA 86
AFM Capsule Cards PRO Budgets and Budgetary Con…
What is the purpose of the 'Budget Manual' distributed within a company?
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86 Views
Budget Manual
Budgets and Budgetary Control 86
WA 86
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AFM Capsule Cards PRO Budgets and Budgetary Con…
How does a financial budget conceptually differ from a simple financial forecast?
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83 Views
Budget vs Forecast
Budgets and Budgetary Control 83
WA 83
AFM Capsule Cards FREE Definition, Scope & A…
What is the fundamental difference in the regulatory approach between US GAAP and IFRS?
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US GAAP is considered a rules-based system of accounting, whereas IFRS is designed as a more principles-based system.
Continuation:
IFRS allows the revaluation model for fixed assets, whereas US GAAP strictly uses the historical cost model less accumulated depreciation.
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82 Views
US GAAP vs IFRS (Rules vs Principles)
Definition, Scope & Accounting Standards including Ind AS 82
WA 82
PPB Capsule Cards PRO Ethics, Business Ethics &…
What are the three stages an organization passes through during an ethical crisis event?
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82 Views
Stages of Ethical Crisis
Ethics, Business Ethics & Banking: An Integrated Perspective 82
WA 82
IE-IFS Capsule Cards PRO Para Banking and Financia…
To provide formal Investment Advisory Services, how must a bank structure this business under RBI rules?
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82 Views
Investment Advisory Services (IAS)
Para Banking and Financial Services Provided by Banks 82
WA 82
PPB Capsule Cards PRO Ethics, Business Ethics &…
What creates an ethical dilemma for a banking professional during the course of business?
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79 Views
Ethical Dilemmas in Banking
Ethics, Business Ethics & Banking: An Integrated Perspective 79
WA 79
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RBWM Capsule Cards PRO Other Financial Services …
What is the primary objective of the Trade Receivables Discounting System (TReDS)?
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77 Views
TReDS Platform
Other Financial Services Provided by Banks 77
WA 77
RBWM Capsule Cards PRO Other Financial Services …
How does a bank acting as an 'Insurance Broker' differ from a 'Corporate Agent'?
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77 Views
Insurance Broking vs Agency
Other Financial Services Provided by Banks 77
WA 77
AFM Capsule Cards PRO Budgets and Budgetary Con…
Which functional budget predicts detailed estimates of cash inflows (receipts) and cash outflows (payments) periodically?
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76 Views
Cash Budget Component
Budgets and Budgetary Control 76
WA 76
RBWM Capsule Cards PRO Investment Management
What is a 'hurdle rate' in the fee arrangement of a PMS?
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75 Views
PMS Hurdle Rate
Investment Management 75
WA 75
PPB Capsule Cards PRO Ethics, Business Ethics &…
How do the principles of 'Openness' and 'Prudence' apply to a banking business?
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75 Views
Principle of Openness & Prudence
Ethics, Business Ethics & Banking: An Integrated Perspective 75
WA 75
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RBWM Capsule Cards PRO Investment Management
According to recent SEBI guidelines, what option must PMS providers offer clients regarding intermediaries?
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74 Views
Direct Onboarding in PMS
Investment Management 74
WA 74
IE-IFS Capsule Cards PRO Economic Planning in Indi…
What are the two core hubs reflecting NITI Aayog's primary responsibilities?
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72 Views
NITI Aayog Core Hubs
Economic Planning in India & NITI Aayog 72
WA 72
RBWM Capsule Cards PRO Investment Management
What are the maximum exit loads permitted for PMS under the October 2020 SEBI guidelines?
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71 Views
Recent SEBI Guidelines: Exit Load
Investment Management 71
WA 71
IE-IFS Capsule Cards FREE Economic Planning in Indi…
When was NITI Aayog established and what did it replace?
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Established on January 1, 2015, replacing the Planning Commission.
Continuation:
Serves as the apex public policy Think Tank promoting cooperative federalism.
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70 Views
Establishment of NITI Aayog
Economic Planning in India & NITI Aayog 70
WA 70
AFM Capsule Cards FREE Definition, Scope & A…
In India, which body was constituted to harmonise diverse accounting policies and practices, and in which year was it established?
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The Institute of Chartered Accountants of India (ICAI) constituted the Accounting Standards Board (ASB) on 21st April, 1977.
Continuation:
The main function of ASB is to formulate accounting standards so that the council of ICAI may mandate them.
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68 Views
Accounting Standards Board (ASB)
Definition, Scope & Accounting Standards including Ind AS 68
WA 68
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IE-IFS Capsule Cards PRO Fixed Income Markets – De…
If you hold a 5-year bond and a 20-year bond, which one's price will be affected more drastically if the RBI suddenly hikes interest rates?
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68 Views
Bond Theorem 3: Maturity & Sensitivity
Fixed Income Markets – Debt and Bond Markets 68
WA 68
PPB Capsule Cards FREE Banker-Customer Relations…
When immovable property is given as security for a loan, what relationship is established?
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The Bank is the Mortgagee, and the Customer is the Mortgagor.
Continuation:
Mortgages apply to real estate and immovable assets. The bank holds the interest in the property until the loan is repaid.
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66 Views
Relationship: Mortgage
Banker-Customer Relationship 66
WA 66
AFM Capsule Cards PRO Budgets and Budgetary Con…
What is the ultimate goal of implementing a Performance Budgeting system in a Government agency or bank?
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65 Views
Performance Budgeting Goal
Budgets and Budgetary Control 65
WA 65
IE-IFS Capsule Cards PRO Economic Planning in Indi…
What were the main objectives and growth rates of the First Plan (1951-1956)?
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65 Views
First Five-Year Plan
Economic Planning in India & NITI Aayog 65
WA 65
RBWM Capsule Cards PRO Other Financial Services …
What distinguishes an Endowment policy from a Term Insurance policy?
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63 Views
Life Insurance: Endowment
Other Financial Services Provided by Banks 63
WA 63
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RBWM Capsule Cards PRO Investment Management
Under recent SEBI rules, what is the stance on upfront fees for PMS?
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63 Views
Recent SEBI Guidelines: Fees
Investment Management 63
WA 63
PPB Capsule Cards PRO Ethics, Business Ethics &…
In the standard banking code of conduct, what is the difference between 'Integrity' and 'Neutrality'?
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62 Views
Integrity vs Neutrality
Ethics, Business Ethics & Banking: An Integrated Perspective 62
WA 62
PPB Capsule Cards FREE Banker-Customer Relations…
For a vehicle loan where the vehicle remains in the possession of the borrower, what is the relationship?
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The Bank is the Hypothecatee, and the Customer is the Hypothecator.
Continuation:
Unlike a pledge, possession remains with the customer (borrower) in hypothecation, though the bank has a charge over the asset.
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62 Views
Relationship: Hypothecation
Banker-Customer Relationship 62
WA 62
RBWM Capsule Cards PRO Investment Management
What does Discretionary Portfolio Management mean?
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60 Views
Discretionary vs Non-Discretionary
Investment Management 60
WA 60
AFM Capsule Cards PRO Budgets and Budgetary Con…
Despite its advantages, why might a budgetary control system fail during unprecedented turmoil like the Covid pandemic?
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60 Views
Limitations of Budgeting
Budgets and Budgetary Control 60
WA 60
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PPB Capsule Cards FREE Banker-Customer Relations…
What is the fundamental difference between Demand Deposits and Time Deposits in banking?
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Demand deposits are payable on demand (low/no interest), Time deposits are repaid after a fixed expiry period (higher interest).
Continuation:
Current and Savings accounts are demand deposits. FDs, RDs, and Short-term deposits are time deposits.
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60 Views
Demand vs Time Deposits
Banker-Customer Relationship 60
WA 60
AFM Capsule Cards FREE Definition, Scope & A…
What are the legal implications under the Companies Act 2013 if a company's financial statements do not comply with mandatory Accounting Standards?
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Section 129(5) requires disclosure of the deviation, reasons, and financial effects. Section 134(5) casts responsibility on the Board of Directors.
Continuation:
Auditors must qualify their reports if mandatory standards are not followed, failing which they are guilty of professional misconduct.
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59 Views
Mandatory AS Compliance & Law
Definition, Scope & Accounting Standards including Ind AS 59
WA 59
PPB Capsule Cards FREE Banker-Customer Relations…
When does the law of limitation begin to run for a bank deposit (both demand and fixed deposits)?
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It begins only when a demand for repayment has been made by the customer.
Continuation:
Unlike typical debts where limitation starts immediately, deposit limitation starts strictly upon the customer's demand for withdrawal/repayment.
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59 Views
Law of Limitation: Deposits
Banker-Customer Relationship 59
WA 59
RBWM Capsule Cards PRO Investment Management
What is the minimum specified net worth required for portfolio managers as per SEBI?
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58 Views
PMS Minimum Net Worth
Investment Management 58
WA 58
AFM Capsule Cards PRO Budgets and Budgetary Con…
How does Zero Base Budgeting (ZBB) radically differ from traditional incremental budgeting?
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58 Views
Zero Base Budgeting (ZBB)
Budgets and Budgetary Control 58
WA 58
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AFM Capsule Cards FREE Definition, Scope & A…
What does Accounting Standard 1 (AS 1) mandate regarding the preparation of financial statements and fundamental accounting assumptions?
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It requires disclosure of all significant accounting policies. If Going Concern, Consistency, and Accrual are followed, specific disclosure is not needed.
Continuation:
If any fundamental assumption is NOT followed, it must be explicitly disclosed to facilitate a meaningful comparison between enterprises.
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55 Views
AS 1: Disclosure of Accounting Policies
Definition, Scope & Accounting Standards including Ind AS 55
WA 55
AFM Capsule Cards PRO Costing Methods
When assembling an aircraft or a motor vehicle, why is a 'Multiple/Composite Costing' method required?
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52 Views
Multiple or Composite Costing
Costing Methods 52
WA 52
PPB Capsule Cards PRO AML- KYC Guidelines
What is the threshold limit for reporting cash transactions in the CTR to FIU-IND?
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Cash Transaction Report (CTR)
AML- KYC Guidelines 52
WA 52
PPB Capsule Cards PRO AML- KYC Guidelines
What is the time limit for a bank to report an STR to FIU-IND after concluding a transaction is suspicious?
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Suspicious Transaction Report (STR)
AML- KYC Guidelines 52
WA 52
IE-IFS Capsule Cards PRO Sectors of the Indian Eco…
What economic activities constitute the Primary Sector?
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Primary Sector Activities
Sectors of the Indian Economy 52
WA 52
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IE-IFS Capsule Cards PRO Economic Planning in Indi…
Which economic model was the Second Five-Year Plan (1956-1961) based on?
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Second Five-Year Plan Model
Economic Planning in India & NITI Aayog 52
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IE-IFS Capsule Cards PRO Economic Planning in Indi…
When was 'indicative planning' formally introduced in India?
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Indicative Planning Introduction
Economic Planning in India & NITI Aayog 52
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IE-IFS Capsule Cards PRO Fundamentals of Economics…
What is the Greek origin of the word 'Economics'?
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Origin of Economics
Fundamentals of Economics, Microeconomics, and Macroeconomics and Types of Economies 51
WA 51
IE-IFS Capsule Cards PRO Supply and Demand
What is the Substitution Effect in demand?
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Substitution Effect
Supply and Demand 51
WA 51
AFM Capsule Cards FREE Definition, Scope & A…
According to AS 2, how should inventories be valued in the financial statements, and which cost formulas are permitted?
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Inventories must be valued at the lower of cost or net realisable value. FIFO and Weighted Average Cost methods are permitted.
Continuation:
AS 2 does not apply to work in progress under construction contracts, service providers, or shares/debentures held as stock-in-trade.
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AS 2: Valuation of Inventories
Definition, Scope & Accounting Standards including Ind AS 49
WA 49
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JAIIB Capsule Cards 2026

India's #1 short-form JAIIB preparation app. 500+ capsule cards, unlimited mock tests & PDF notes for JAIIB May & Nov 2026 (PPB, IE-IFS, AFM, RBWM). Learn while commuting. Clear JAIIB in your first attempt. Join 5,000+ bankers.

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World Bank Economy Classification How does the World Bank classify the Indian economy? India's Global GDP Ranking (PPP) What is India's global GDP ranking in terms of Purchasing Power Parity (PPP)? Hindu Rate of Growth Who coined the term 'Hindu Rate of Growth' and what does it mean? Home Charges in British Era What were 'Home Charges' during the British control of India? COVID-19 Economic Impact Which sector suffered the most severe contraction during the COVID-19 pandemic? First National Income Estimates Who published the first estimates of national income in India? Portfolio Management Services (PMS) Rules Banks offering PMS must keep customer funds completely separate from the bank's assets. What is the mini… Relationship: Deposit Account When a customer opens a savings or current deposit account with a bank, what is the primary legal relati… Bank as a Mutual Fund Agent Banks can act as agents for Mutual Fund companies to sell their products. What strict restriction applie… Three Major Economic Shocks What are the three major economic shocks India faced in the last four decades? Factoring Services by Banks Banks can undertake factoring services either departmentally or through a subsidiary. If done department… Relationship: Loan Account What is the banker-customer relationship when the bank grants a loan or advance to the customer? Angus Maddison Database Insights According to Angus Maddison, what was India and China's global GDP share in 1000 AD? Primary Dealership Eligibility (NOF) Banks can undertake Primary Dealership (PD) business via a subsidiary. What is the Minimum Net Owned Fun… Referral Services Restrictions Banks offer referral services, passing client leads to third parties for a fee. What type of products ca… Relationship: Safe Custody What is the legal relationship between the bank and customer when valuables are deposited for safe custo… Pension Fund Management Restriction Banks are permitted to undertake Pension Fund Management. Can this specific service be offered directly… Consent Architecture in AA In the Account Aggregator framework, who ultimately holds the power to initiate the transfer of financia… Relationship: Safe Deposit Locker When a bank provides a safe deposit locker to a customer, what specific relationship is formed? Post-1991 Reforms Growth What was the impact of the 1991 LPG reforms on economic growth? Relationship: Pledge In a pledge transaction where goods are kept as security, what is the relationship between the bank and… Insurance Business Subsidiary Criteria If a bank wants to set up a joint venture for an insurance business with risk participation (underwritin… Insurance Broking Departmentally Can a commercial bank directly act as an insurance broker without setting up a separate subsidiary? 2008 Global Financial Crisis Response How did India mitigate the effects of the 2008 global financial crisis? Corporate Governance in India When did business ethics in India gain center stage in corporate operations, and which committee was rec… Sectoral GDP Contribution Trend Which sector currently dominates the Indian economy's GDP? Values vs Ethics What is the fundamental difference between Values and Ethics in the context of banking and business? Principle of Fairness In business ethics, does the principle of fairness mean that everybody is treated equally and gets exact… Philosophy of Trusteeship Which famous leader espoused the philosophy of 'Trusteeship', and what is its core origin? Post-COVID GDP Recovery How did India's GDP recover in the year 2021-22 after the pandemic? Relationship: Cheque Collection If a customer deposits a cheque into their account for collection, what role does the bank play during t… Deindustrialisation under British Rule What caused the rapid deindustrialisation of India in the 19th century? Retailing of Government Securities Banks are allowed to retail Government Securities to non-bank clients. What type of trading transaction… Programme Budgeting When an organization runs a specific safety drive or a middle-management training course, what type of b… Budget Committee What is the composition and primary role of the Budget Committee in a large firm? Ethical Foundation: Trust What is the foremost principle of ethical banking, and what does it inspire among stakeholders? Budget Centre In the context of implementing budgetary control, what constitutes a 'Budget Centre'? Definition of Accounting (AICPA) What is the most widely accepted definition of Accounting given by the American Institute of Certified P… Factoring with vs without Recourse What is the difference between factoring with recourse and without recourse? Budget Manual What is the purpose of the 'Budget Manual' distributed within a company? Budget vs Forecast How does a financial budget conceptually differ from a simple financial forecast? US GAAP vs IFRS (Rules vs Principles) What is the fundamental difference in the regulatory approach between US GAAP and IFRS? Stages of Ethical Crisis What are the three stages an organization passes through during an ethical crisis event? Investment Advisory Services (IAS) To provide formal Investment Advisory Services, how must a bank structure this business under RBI rules? Ethical Dilemmas in Banking What creates an ethical dilemma for a banking professional during the course of business? TReDS Platform What is the primary objective of the Trade Receivables Discounting System (TReDS)? Insurance Broking vs Agency How does a bank acting as an 'Insurance Broker' differ from a 'Corporate Agent'? Cash Budget Component Which functional budget predicts detailed estimates of cash inflows (receipts) and cash outflows (paymen… PMS Hurdle Rate What is a 'hurdle rate' in the fee arrangement of a PMS? Principle of Openness & Prudence How do the principles of 'Openness' and 'Prudence' apply to a banking business? Direct Onboarding in PMS According to recent SEBI guidelines, what option must PMS providers offer clients regarding intermediari… NITI Aayog Core Hubs What are the two core hubs reflecting NITI Aayog's primary responsibilities? Recent SEBI Guidelines: Exit Load What are the maximum exit loads permitted for PMS under the October 2020 SEBI guidelines? Establishment of NITI Aayog When was NITI Aayog established and what did it replace? Accounting Standards Board (ASB) In India, which body was constituted to harmonise diverse accounting policies and practices, and in whic… Bond Theorem 3: Maturity & Sensitivity If you hold a 5-year bond and a 20-year bond, which one's price will be affected more drastically if the… Relationship: Mortgage When immovable property is given as security for a loan, what relationship is established? Performance Budgeting Goal What is the ultimate goal of implementing a Performance Budgeting system in a Government agency or bank? First Five-Year Plan What were the main objectives and growth rates of the First Plan (1951-1956)? Life Insurance: Endowment What distinguishes an Endowment policy from a Term Insurance policy? Recent SEBI Guidelines: Fees Under recent SEBI rules, what is the stance on upfront fees for PMS? Integrity vs Neutrality In the standard banking code of conduct, what is the difference between 'Integrity' and 'Neutrality'? Relationship: Hypothecation For a vehicle loan where the vehicle remains in the possession of the borrower, what is the relationship? Discretionary vs Non-Discretionary What does Discretionary Portfolio Management mean? Limitations of Budgeting Despite its advantages, why might a budgetary control system fail during unprecedented turmoil like the… Demand vs Time Deposits What is the fundamental difference between Demand Deposits and Time Deposits in banking? Mandatory AS Compliance & Law What are the legal implications under the Companies Act 2013 if a company's financial statements do not… Law of Limitation: Deposits When does the law of limitation begin to run for a bank deposit (both demand and fixed deposits)? PMS Minimum Net Worth What is the minimum specified net worth required for portfolio managers as per SEBI? Zero Base Budgeting (ZBB) How does Zero Base Budgeting (ZBB) radically differ from traditional incremental budgeting? AS 1: Disclosure of Accounting Policies What does Accounting Standard 1 (AS 1) mandate regarding the preparation of financial statements and fun… Multiple or Composite Costing When assembling an aircraft or a motor vehicle, why is a 'Multiple/Composite Costing' method required? Cash Transaction Report (CTR) What is the threshold limit for reporting cash transactions in the CTR to FIU-IND? Suspicious Transaction Report (STR) What is the time limit for a bank to report an STR to FIU-IND after concluding a transaction is suspicio… Primary Sector Activities What economic activities constitute the Primary Sector? Second Five-Year Plan Model Which economic model was the Second Five-Year Plan (1956-1961) based on? Indicative Planning Introduction When was 'indicative planning' formally introduced in India? Origin of Economics What is the Greek origin of the word 'Economics'? Substitution Effect What is the Substitution Effect in demand? AS 2: Valuation of Inventories According to AS 2, how should inventories be valued in the financial statements, and which cost formulas…
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IE-IFS — Indian Economy & Indian Financial System PPB — Principles & Practices of Banking AFM — Accounting & Financial Management for Bankers RBWM — Retail Banking & Wealth Management
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