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National Income and Banking Systems: Banking and SSC

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In a bout of 3 hours, this module covers significant aspects and topics of National Income and Banking Systems, with emphasis on the Indian context of economy and successfully prepares the student for this section of exams
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Syllabus & Session plan

Best-in-class content by leading faculties and industry leaders in the form of videos, cases and projects

Mode of instruction

English and Hindi

Course Content

  • National Income
    2 lecture

    Lecture 1: Basic Concepts

    00:43:20

    Beginning with the definition of National Income, the Educator, Ms Azmat, lays out the outline of the module wherein students will learn three different sets of methods to calculate National Income, each set comprising of 3 terms/factors.
    Set 1: GDP, GNP, NFI

    Gross Domestic Product (GDP)= all/total income generated within the domestic boundaries of India by anyone (a citizen or foreigner).

    Gross National Product (GNP)= all/total income generated by Indian citizens, within or outside India.

    Net Foreign Income (NFI)=[- (income of foreigners who spend it outside India)+ (income of Indians who are earning outside the boundary of India but spending it within Indian borders)]

    GNP= GDP + Net Foreign Income

    NFI determines whether GDP or GNP is bigger, i.e., if NFI is positive or negative. 

    The Educator further clarifies concepts by going back and forth in the ways of calculation of GDP and GNP and how to convert one into another through the variant, NFI.  

     

    Set 2: Gross, Net value, Depreciation.

    Gross Value- total collection/income which is inclusive of all values. 

    Net Value- The amount of profit or the net in-hand amount, exclusive of all applicable deductions.

    Depreciation- Applicable deductions that are included in Gross Value.  

    Net Value= Gross Value- Depreciation 

    Lecture 2: Calculation of National Income

    00:30:56

    Set 3: Market Price, Factor Cost, Net Indirect Taxes

    Market price (MP)- the price of a good/commodity/service at which it is sold in the market to consumers, inclusive of all applicable taxes

    Factor cost (FC)- the cost involved in the production/delivery of the said good/commodity/service, inclusive of profits and cost of transportation 

    Net Indirect Taxes (NIT)- All indirect taxes applicable in the transaction, minus the applicable subsidies provided. 

    MP= FC + Net Indirect Taxes (NIT)

    MP= FC+ [+all indirect taxes - all types of subsidy applicable]

    Net Indirect taxes= [+all indirect taxes - all types of subsidy applicable]

    In the extension of the video, Ms Azmat goes on to explain the calculation of various factors of National Income through each other by making broader categories and tricks and using the smaller formulae to solve bigger questions. Conclusively, she takes on board important questions which have been previously asked in exams and hence, completes the chapter on National Income. 

  • Banking Systems
    3 lecture

    Lecture 1: The RBI and its Monetary Policies

    00:38:32

    For the topic of Banking Systems, the Educator begins with the central concern and authority of banks in India, the Reserve Bank of India (RBI). She introduces the RBI in order by giving various important factual details about the bank and its functions, major being liquidity regulation of the Indian economy.
    She then briefly explains the Nationalization of banks that happened under Indira Gandhi’s term and the reasons why it was significant: enhanced financial inclusion, public welfare and removal of private sector domination over the government. 
    Going further, she begins with the monetary policies of the RBI and explains four of them in this lecture in immense detail and also relates them with examples, to each. The Monetary Policies taken up in this lecture are: Repo Rate, Bank Rate, Marginal Standing Facility and Reverse Repo Rate. 

    Lecture 2: Monetary Policies of RBI- II

    00:30:47

    Continuing from the policies of the last lecture and explaining this economic relation with each other, the Educator now moves to the next few policies of Cash Reserve Ratio, Statutory Liquid Ratio, and Open Market Operation
    Cash Reserve Ratio: a fixed percentage of the total deposit that each commercial bank has, which it needs to give in cash to RBI weekly and without interest, in order to ensure the security of the customers of the bank. 
    Statutory Liquid Ratio: The amount/asset that each bank needs to keep, including RBI, at all points of time. Like Cash Reserve Ratio, SLR is also a compulsory policy for each bank and the RBI. 
    Introducing the subject for the next lecture, the Educator now introduces classification of bank and introduces the first kind, while the rest are taken in the coming lecture: MUDRA Bank. MUDRA stands for Micro Unit Development Refinance Agency whose purpose is to grant loans to small scale industries and enterprises. 

    Lecture 3: Classification of Banks

    00:40:33

    Continuing with the introduced topic of classification of banks, Ms Azmat now moves to the following categories:
    NABARD: National Bank for Agricultural and Rural Development, which is the head of all rural and regional banks in India and is headquartered at Mumbai. It is a very significant topic for exam aspirants
    Regional Rural Bank- Established in 1975 and now owned by NABARD, the constitution of these banks involves 50% contribution from the Central Govt., 15% from the respective State Govt., and 35% by Sponsor Banks.
    Scheduled and Non-Scheduled Banks (Commercial Banks)- Scheduled Banks are banks which are registered under the 2nd Schedule of the RBI Act, 1934 and involve Public, Private and Foreign Banks. Non-Scheduled Banks are the banks which are exempted from the RBI Act of 1934 but present in the Banking Regulation Act.
    As usual, Ms Azamt summarizes the whole topic of Banking Systems at the end for the benefit of her students and draws an overall outline of each sub-topic.

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