Home » Current Affairs In-depths & Editorials » GS3 » Internal Security » [GS3] Basics of cybersecurity » Digital Banking During Pandemic – All You Need to Know

Digital Banking During Pandemic – All You Need to Know

karishma 08/01/2021

From Current Affairs Notes for UPSC » Editorials & In-depths » This topic

IAS EXPRESS Vs UPSC Prelims 2024: 85+ questions reflected

Premium Content!

You need General Studies (GS) subscription to access this content. Join now to unlock premium content.

If you like this post, please share your feedback in the comments section below so that we will upload more posts like this.

Related Posts

forensic audit upsc essay notes mindmap

Forensic Audit – Meaning, Importance, Way Ahead

04/11/2020 / Business and Investment, Financial/Security/Capital Market, Policies/Plans/Guidelines/Frameworks

Sovereign Gold Bond Scheme 2023-24 mind map Recent News Series III and IV issued Dates Series III: Dec 18-22, 2023; Issued on Dec 28, 2023 Series IV: Feb 12-16, 2024; Issued on Feb 21, 2024 Availability Sold through Scheduled Commercial Banks Stock Holding Corporation of India Limited Clearing Corporation of India Limited Designated post offices Recognized stock exchanges Excluded Banks Small Finance Banks Payment Banks Regional Rural Banks Product Details Issuer Reserve Bank of India on behalf of Government of India Eligibility Resident Individuals Hindu Undivided Families (HUFs) Trusts Universities Charitable Institutions Denomination Multiples of grams of gold Basic unit of One gram Tenure 8 years Exit option after 5th year on interest payment dates Investment Details Minimum Investment 1 gram of gold Maximum Investment 4 KG for Individuals and HUFs 20 KG for trusts, Universities, and Charitable Institutions Subscription Limit Joint Holding 4 KG limit applies to first applicant Financial Aspects Issue Price Determined by RBI annually Based on average gold price of previous 3 working days Interest Rate 2.50% per annum on nominal value Credited semi-annually Payment Methods Cash (up to ₹20,000) Cheque Demand Draft Electronic Banking Taxation Interest Taxable As per Income Tax Act, 1961 Capital Gains Tax Exempted on redemption for individuals Indexation benefits for long-term capital gains TDS Not applicable on interest income Trading and Redemption Tradable On stock exchanges within a fortnight of issuance Redemption Price Based on average closing price of gold of 999 purity Additional Features Nomination Available except for minor investments Collateral for Loans Bonds can be used Loan-to-value ratio as per RBI mandate Commission 1% of total subscription to receiving offices 50% shared with agents or sub-agents SLR Eligibility Counted towards Statutory Liquidity Ratio for banks

Sovereign Gold Bond Scheme 2023-24

12/02/2024 / Financial/Security/Capital Market

RBI Guidelines for Fintech SRO

RBI Guidelines for Fintech SRO

09/06/2024 / Banking

Banking System Liquidity Tightens

Banking System Liquidity Tightens

31/12/2024 / Banking

Categories: [GS3] Basics of cybersecurity, Banking, Financial Inclusion, Financial/Security/Capital Market

Tags: economy, In-depths, internal security, premium

Subscribe

0 Comments

Inline Feedbacks

View all comments

🖍️ Highlight

X