Facts related to Banking System In India & Finance Sector Scheduled Banks in India constitute those banks which have been included in the Second Schedule of Reserve Bank of India(RBI) Act, 1934. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 (6) (a) of the Act. Non-scheduled bank in India" means a banking company as defined in clause (c...

BASEL COMMITTEE ON BANKING SUPERVISION (BCBS): - The Basel Committee is a committee of bank supervisors drawn from 13 member countries (Belgium, Canada, France, Germany, Italy, Japan, Luxembourg, - The Netherlands, Spain, Sweden, Switzerland, United Kingdom and United State of America). - It was founded in 1974 to ensure international cooperation among a number of supervisory authorities. - I...

SOME IMPORTANT UN AGENCIES Name of Agency Estd. In Headquarters Purpose International Labour Organisation (ILO) 1919 Geneva To improve conditions and living standard of workers. World Health Organisation (WHO 1948 Geneva Attainment of highest possible level of health by all people. United Nations Educational, 1946 Scientific and Cultural Organisation (UNESCO) 1946 Paris To promote...

- ADB was established in Dee. 1966 on the recommendations of ECAFE (Economic commission for Asia and Far East). - The aim of this Bank is to accelerate economic and social development in Asia and Pacific region. - The Bank started its functioning on January 1, 1967. the head office of the Bank is located at Manila, Philippines. - It is worthmentioning here that the Chairmanship ADB is always al...

- UNO declared 1960-70 as Development Decade. - In 1961 UNO attempted to increase the income of developing countries with a growth rate of 5% p.a. during that development decade. - In July 1962, a conference of developing countries was held at Cairo which resolved to convene a World Conference for this purpose. - Economic and Social Council ofthe UNO organized a World Trade and Development Conf...