KRIBHCO

• Krishak Bharati Co operative Limited known as KRIBHCO

• KRIBHCO is a national level co operative society of India engaged in fertilizer production and distribution 

• KRIBHCO established on 17th April 1980 

• Headquarters of KRIBHCO is at Noida in Uttar Pradesh 

• " Co operative and beyond " is the motto of KRIBHCO 

• KRIBHCO registered under Multi State Co operative Societies Act of 2002 

• Krishak Saarthi is the monthly publication of KRIBHCO 

• City compost , Neem coated urea are the product of KRIBHCO 

• OMIFCO and KRIL are the joint venture of KRIBHCO 

• Oman India Fertilizer Company SAOC is known as OMIFCO 

• OMIFCO has been established by the Republic of India and Government of Oman 

• OMIFCO is owned 50% by Oman Oil Company SAOC ( OQ ) 25% by IFFCO and 25% by KRIBHCO 

• KRIBHCO Infrastructure Limited known as KRIL 

• KRIL established on 16th April 2009 

• KRIBHCO Fertilizers Limited ( KFL ) and KRIBHCO Agri Business Limited are the subsidiaries of KRIBHCO 

• " The co operation is the only way of becoming self reliant, independent & progressive " coined by Mr Paul Pothen   
• Paul Pothen is the founder MD of KRIBHCO 

RTGS ( Real Time Gross Settlement )

RTGS - Real Time Gross Settlement

• RTGS stands for Real Time Gross Settlement

• RTGS system where there is continuous and real-time settlement of fund-transfers, individually on a transaction-by-transaction basis

• The funds settlement takes place in the books of the Reserve Bank of India (RBI), the payments are final and irrevocable

• The system is available on all days on 24x7x365 basis

• The remitter need not use a physical cheque or a demand draft

• Remitter can initiate the remittances from his / her home / place of work using internet banking, if his / her bank offers such service

• RTGS system does not accept future value dated transactions

• RBI limits transaction charges

• With effect from July 01, 2019, RBI has waived the processing charges levied by it for RTGS transactions

1. Inward transactions – Free

2. Outward transactions Rupees 2,00,000 to 5,00,000 not exceeding Rupees 25 (exclusive of tax, if any)

3. Above Rupees 5,00,000 not exceeding 50 (exclusive of tax, if any)

• RTGS transactions are processed continuously on a transaction-by-transaction basis throughout the day

• RTGS is available 24x7x365 with effect from December 14, 2020

• RTGS transactions transfers have no amount limit set by RBI

• RTGS transactions transfers have no amount limit set by RBI

• The minimum amount to be remitted through RTGS is Rupees 2,00,000/- with no upper limit

• With effect from July 01, 2019, RBI has waived the processing charges levied by it for RTGS transactions

• Unique Transaction Reference (UTR) number is a 22-character code used to uniquely identify a transaction in RTGS system 

Regional Rural Bank ( RRB )

• Regional Rural Bank ( RRB ) established on 2nd October 1975

• RRB Act passed in the year 1976

• RRB established as per the recommendation of Narasimhan committee

• To implement 20 point programme announced by former prime minister Indira Gandhi the central Govt decided  to start RRB in the Nation

• The share capital contribution by the central government , state government and sponcer bank in the ratio 50 : 15 : 35

• Central government contributed RRB through NABARD

• First RRB in India is Moradabad in UP

• Kerala Gramin Bank is the largest RRB in India 

• Number of RRB in India is 43

Co operative Movement in Kerala

Cochin co operative Movement started in the year 1911

Cochin co operative societies Act 1913

A R Banerjee was the diwan at the time of passing Cochin co operative Societies Act 1913

The first co operative society registered under this Act was Edavanakkad Co operative society No 1

Liability of Edavanakkad Co operative society was Unlimited 

Present Name of Edavanakkad Co operative society is Edavanakkad service co operative Bank Ltd No 1

Travancore co operative societies Act 1914

First society registered under this Act was Trivandrum central Co operative Bank

Present Name of Trivandrum central Co operative Bank is Kerala Bank 

First registrar of travancore state was C Govindapillai

The first society registered under this Act was Koduvayur Agricultural credit society

Koduvayur Urban Bank is the present name of Koduvayur Agricultural credit society

Travancore Cochin co operative societies Act 1951

Travancore and Cochin states merged in the year 1949

Kerala Co operative Societies Act 1969

Madras co operative societies Act 1932

Full Form of Banking Terms

 1.Full form of NEFT 

National Electronic Fund Transfer

2. Full form of RTGS

Real Time Gross Settlement

3.Full form of CIBIL

Credit Information Bureau (India ) Limited

4. Full form of IFSC

Indian Financial System Code

5. Full Form of EMI

Equated Monthly Statement

6.Full form of MICR

Magnetic Ink Character Recognition

7.Full form of CASA

Current Account and Saving Account

8.Full form of NACH

National Automated Clearing House

9.Full form of MMID

Mobile Money Identifier

10.Full form of KYC

Know Your Customer

11.Full Form of KCC

Kissan Credit Card

12.Full form of OTP

One Time Password

13. Full form of NPCI

National Payments Corporation Of India

14. Full form of NBFC

Non Banking Financial Institution 

15. Full form of UPI

Unified Paymets Interface

16. Full Form of SWIFT

Society for World Wide Interbank Financial Telecommunication

17. Full form form GST 

Goods and Services Tax

18. Full form of NPA

Non Performing Asset

19. Full form of  TIN

Tax Information Network

20. Full form of   CVV

Card verification value

21. Full form of   SDR

Special Drawing Right

22. Full form of   IRDAI  

Insurance Regulatory and Development Authority of India