In what way Payment Banks are useful?
What is a Payment bank :-- A bank licensed as a payment bank can receive deposits and offer remittances only. It cannot issue loans and credit cards.
- Nachiket mor committee in 2014 in its report recommended for a new type
Impact of GST on Banking sector
Background :-- Goods and Services Tax, a strong taxation system was introduced on 1st of July in India.
- Every product including aerated drinks, tobacco products, gold etc that was being imported or exported across the country was now committed to
Impact of Technology on Banking sector
Positive impact of technology on banking sector :-- The biggest revolution came in banks is Digitization.
- Banking process is faster than before and more reliable. Maintenance and retrieval of documents and records have become much faster and easier.
- Computerized banking
Digital payments in India
The evolution of digital payments in India:-- India is a massive cash dependent economy with a 13% cash-to-GDP ratio to the global average of 2.5 to 8%. This invites many illegal transactions and black money within the system. The government
Challenges to Indian Banking sector
Emerging challenges:-- Asset quality is under tremendous pressure due to continued economic slowdown and increase in the rise of the levels of Gross nonperforming advances and NPA’s.
- One of the major problems is Large Over dues of farmers in small
