AP (Advanced Placement) Macroeconomics Financial Sector-Banking Terms and Persons (Page 5 of 51)

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Banker՚s Bank

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In any economy, the banker to bank function is done by the central banks including the RBI. As a banker՚s bank, the RBI gives several services to commercial banks. The RBI as a banker to banks provide certain services to the banks that are vital for the day to day operations of the banks as well as enhancing their stability and health. As the bankers՚ bank, the RBI provides: RBI as a banker՚s bank focuses on: Enable smooth and swift clearing and settlement of inter-bank transactions (cheques etc.) . RBI facilitates fund transfer among banks (RTGS, NEFT etc.) . RBI gives account facility to banks and banks maintain cash reserves with the RBI. RBI gives lender of last resort facility to banks.

Banking Cards

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Banking cards comprised of Credit/Debit/Cash/Travel cards are most used and popular forms of digital money transfer. The Rupaya Cards, Master and Visa cards supports the card based payments.

Banking Sector Reforms

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Refers to the reform measures launched in the banking sector during the 1990s. These reforms were introduced from 1993 onwards, based on the recommendations of the Narasimham Committee recommendations. Banking sector reforms constituted to the major part of the financial sector reforms and were a component of the overall economic reforms launched since 1991.