FREE CAIIB RETAIL BANKING NOTES | EDUCATION LOANS
In today’s article, we will go through the topic of Education Loans from the syllabus of CAIIB Retail Banking 2023.
After clearing the JAIIB exam, candidates can sit for the Certified Associate of Indian Institute of Bankers (CAIIB) exam, which is another flagship course offered by the Indian Institute of Banking and Finance (IIBF). CAIIB’s goal is to deliver advanced information in areas such as Treasury Management, Risk Management, Balance Sheet Management, Credit Management, International Banking, and Economic Analysis to help people make better decisions.
CAIIB is believed to be one of the most difficult courses for bankers to pass. However, we guarantee that if you use our “CAIIB study material,” you will pass the CAIIB exam.
Exams for the CAIIB are held twice a year. Before taking the CAIIB Exam, candidates must have completed the JAIIB. On this page, we will provide thorough notes for each unit of the CAIIB EXAM 2023 based on the most recent IIBF pattern.
RETAIL BANKING is when a bank conducts business with individuals rather than companies or other financial institutions. Savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards are among the services provided under retail banking. These banking services are distinguished from investment banking, commercial banking, and wholesale banking by the name.
Notes for the CAIIB EXAM on retail banking:
One of the most important topics for the CAIIB exam 2023 is retail banking. For exams like JAIIB and CAIIB specialized study resources are necessary. IIBF LEARNING CENTRES offers a variety of CAIIB resources and tools to assist applicants in passing the tests. To obtain conceptual knowledge, you should make the most of these CAIIB study tools and short notes are also provided by iibf.info. This CAIIB STUDY MATERIAL would help you get a better understanding of the concepts and would help you memorize them better.
We provide a wide range of services, including:
Videos that are current and up-to-date. The ABM, BFM, and Retail IT curriculum have all been upgraded.
Case studies: You may discover new and updated case study videos for all CAIIB’s papers on the website or in the app.
We have the best tutors in the business with experience, as well as the most up-to-date syllabus and pattern.
We’ve put together CAIIB 2023 STUDY MATERIAL from previous years’ CAIIB EXAMS, aimed toward CAIIB 2023.
Chapterwise, all three subjects of CAIIB ABM, BFM, and Retail Banking are covered, as well as questions from the prior year and memory recall.
Notes in ePDFs are available for CAIIB CLASSES 2023
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We also have mock test papers available for your practice.
Some important topics that are covered in this article are education loans and retail banking for the CAIIB EXAM 2023,-
EDUCATION LOANS:-
1. Eligibility
Students who are enrolled in Professional/Other Colleges
The Indian Banks’ Association has released a Model Education Loan Scheme outlining the procedures banks must follow while disbursing education loans. The goal of the IBA is to get banks to take a consistent approach in accordance with the recommendations.
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Purpose
To pursue a professional degree or diploma, as well as additional courses, as required by the IBA.
For both in-country and out-of-country studies.
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Amounts
Inland Studies – Upto Rs.10 Lacs.
Up to Rs.20 lacs for foreign studies
In the event that the amount applied for loan is greater, banks may consider it on a case-by-case basis.
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Security
No security is required for amounts up to Rs.4 lacs.
Additional Personal Guarantee worth the amount if the value is over Rs.4 Lacs and up to Rs.7.50 Lacs.
Above Rs.7.50 Lacs – To be secured by a tangible asset in property, government securities such as NSC.KVP, etc., to cover the loan.
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Disbursement
To be paid out in stages – semester by semester or annually, depending on the institutions’ needs.
Payment should be made to the institution directly.
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Moratorium
One year after completion of the studies or employment, whichever is earlier.
7. Payment problems
There is no fee for paying in advance.
However, prepayment of Educational Loans is uncommon because repayment is set only after completing the studies, and revenue streams for prepayment are scarce.
But parents can service the interest whenever due, and if interest is serviced, Tax Exemption for interest serviced is available.
Some banks also offer an Interest Rebate of 1% for prompt repayment of the loan.
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Repayments
Education loans are repayable in 60 monthly installments (EMIs).
Since the Modi government came into action in 2014, various schemes have been launched which are essential for the retail banking CAIIB exam:
The following are the programs or programs that the Modi government has introduced until October 2021:–
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Agriculture Infrastructure Fund Scheme
To provide financial assistance worth Rs. 1,00,000 crore to:
Agri-entrepreneurs, agri-tech companies, startups, and farmer associations to assist with post-harvest management and farm asset nurturing
The Agriculture Infrastructure Fund will provide a loan of up to Rs. 2 crores, with the central government bearing about 3% of the interest subsidy p.a. on the provided loans.
2. e-Shram Portal
To keep track of the workers in the unorganized sector.
The E-SHRAM Portal Scheme is for the benefit of unorganised sector employees and labourers. For their benefit, the federal government launched a national database for unorganised labour. More than 12 crore people are now registered with the portal.
3) PM e-Vidya Yojana to bring together all activities linked to online, digital, or on-air education in order to provide school children with multi-mode access to education. Nearly 25 crore youngsters who attend schools across the country would benefit from this comprehensive approach.
4) Pradhan Mantri Garib Kalyan Package (PMGKP) Insurance Scheme, which started on June 1, 2021.
To ensure that health workers fighting COVID-19 are covered.
The scheme was initially introduced on March 30, 2020, for a period of 90 days to give complete personal accident insurance of Rs.50,000 to all healthcare practitioners, including community and private health workers. It was later extended to workers fighting COVID-19. For a period of one year, beginning April 24, 2002.
We hope this study material that we are providing for the CAIIB exam 2023 would help you navigate your way through it.
