Economy (Hindi) PDF

SPRINGBOARD ACADEMY 1
Economy Notes
vFkZO;oLFkk
/ku laca/kh fo"k;ksa o ekeyksa dk v/;;u vFkZ’kkL= dgykrk gS tcfd fdlh ns’k@jkT; dh vkfFkZd xfrfof/k;ksa ds lapkyu ds fy,
viukbZ tkus okyh fu;e o uhfr;ka vFkZO;oLFkk dgykrh gSA vFkZO;oLFkk 'kCn lnSo fdlh {ks= ds uke ds vkxs tksM+k tkrk gS& tSls
& Hkkjr dh vFkZO;oLFkk] jktLFkku dh vFkZO;oLFkk
vFkZ’kkL= lS/kkafrd Kku ls lcaf/kr gS tcfd vFkZO;oLFkk mu fl)kUrksa dk O;ogkfjd o okLrfod :i gSA vkfFkZd lalk/ku lhfer
ek=k esa gksrs gS blfy, izR;sd ns’k mudk U;k;ksfpr caVokjk vkSj loZJs"B mi;ksx lqfuf’fpr dj vf/kdre tudY;k.k djuk pkgrk
gSA bl lac/k esa viuk;s x;s fu;e vFkZO;oLFkk dgykrs gS
• lalk/kuksa ds LokfeRo ds vk/kkj ij vFkZO;oLFkk rhu izdkj dh gksrh gS
iwathokn lektokn
• ;ksX;rk ds vk/kkj ij forj.k • vko';drk ds vk/kkj ij leku forj.k
• lalk/kuksa ij futh LokfeRo • lalk/kuksa ij jkT; dk LokfeRo
• vFkZO;oLFkk dk lapkyu cktkj 'kkfDr;ksa ij gksrk gS • vFkZO;oLFkk dk lapkyu jkT; }kjk fd;k tkrk gSA
• O;fDrxr Lora=rk dks vf/kd egRo fn;k tkrk gSA • Lekt dks vf/kd egRo fn;k tkrk gSA
• Ekqnzk iz.kkyh bldk vk/kkj gSA • eqnzk iz.kkyh dh vko’;drk ughaA
• Lora=rk dks vf/kd egRo nsrs gSA • Lekurk dks vf/kd egRo fn;k tkrk gSA
• vfgald vkUnksyu esa fo’okl • fagsld Økafr esa fo’okl
• oxZ lg;ksx esa fo’okl • oxZ la?k"kZ esa fo’okl
• yksdra= dk leFkZd • yksdra= dk fojks/k o loZgkjk oxZ dh rkuk’kkgh
• jk"Vªokn dks ekurs gS • jk"Vªokn dks ugha ekurs gSA
• /keZ dks ekurs gS • /keZ dks ugha ekurs gSA
dksbZ Hkh vFkZO;oLFkk iw.kZr;k lektoknh o iw.kZr;k iwt a hoknh ugha gks ldrh gS D;ksfa d iwt
a hokn vFkZ O;oLFkk esa Hkh lkE;oknh fo’ks"krk
o lkE;oknh fo’ks"krk esa iwta hoknh fo’ks"krk gksrh gS
• Hkkjr ,d fefJr vFkZO;oLFkk gSA

• Hkkjesa esa 1991 ls igys vFkZO;LFkk ij lektoknh izHkko vf/kd Fkk ysfdu 1991 ds vkfFkZd lq/kkj viuk;k rc ls gekjh
vFkZO;oLFkk ij iwt a hoknh izHkko vf/kd gSA
• 1991 esa ,yihth ¼mnkjhdj.k] futhdj.k] oS’ohdj.k ½ ij cy fn;k x;kA
• phu us 1978 ds vkfFkZd lq/kkjksa dks viuk;k FkkA
• orZeku esa mRrjh dksfj;k lkE;oknk dk mnkgj.k FkkA
• vUrjkZ"Vªh; laca/kksa ds vk/kkj ij vFkZO;oLFkk nks izdkj dh gksrh gS
o [kqyh vFkZO;oLFkk & vk;kr & fu;kZr o ekuo lalk/ku dk eqDr lapj.k
o can vFkZO;oLFkk & vk;kr & fu;kZr@ekuo lalk/ku@fons’kh O;kikj can gksrk gS A
A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

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Economy Notes
fodkl dh fLFkfr ds vk/kkj ij vFkZO;oLFkk fuEu izdkj dh gksrh gS &

vYifodflr vFkZO;oLFkk fodkl'khy fodflr
• lalk/kuksa dk nksgu izkFkfed Lrj • f}rh;d {ks= dk ;ksxnku gks • lokZf/kd ;ksxnku lsok {ks= dk
ij gks
• izfr O;fDr vk; de • vUrjkZ"Vªh; ekudksa ds vuq:Ik vk; • izfr O;fDr vk; o thou Lrj
o thou Lrj de gks A mPp gksrk gS
• vk/kkjHkqr lajpuk vfodflr gks A • vk/kkjHkqr lajpuk dk fodkl • vkS|ksfxdj.k iw.kZ gks pqdk gksA
vko’;drk ds vuq:Ik ugha
ekax = vkiwfrZ
ekax > vkiwfrZ ekax < vkiwfrZ
eagxkbZ (Inflation) vofLQfr (Deflation)
ekSfnzd uhfr jktdks"kh; uhfr

vkn’kZ fLFkfr esa 4 izfr’kr ls 6 izfr’kr rd
• eqnzkLQhfr o csjkstxkjh esa ,d lhek rd udkjkRed laca/k gksrk gSA ¼f¶yQ oØ½
• ;fn vkjchvkbZ cktkj esa vf/kd uksV ¼rjyrk½ tkjh djrk gS rks eqnzkfLQhfr gksrh gS rFkk eqnzkLQhfr dks fu;af=r djus ds
fy, cktkj esa rjyrk dks de djrk gS blfy, eqnzkLQhfr dh fLFkfr esa ekSfnzd uhfr vf/kd izHkkoh gksrh gSA
• tcfd (Deflation) vkfFkZd eanh dh fLFkfr esa jktdks"kh; uhfr vf/kd izHkkoh gksrh gSA
mRiknu ds lk/ku
rRo (Factor) Ykxr (Cost)
• Hkwfe • fdjk;k
• Je • Ektnwjh
• iwt a h • C;kt
• m|eh • ykHk
• Hkwfe & lHkh izkd`frd lalk/ku
• iwt
a h & e’khujh ¼LFkkbZ iwt
a h½] dPpk eky ¼vLFkkbZ iwt
a h½ mRiknu ds mijksDr dkjdksa dh ykxr dk ;ksx dkjd ykxr
dgykrk gSA
• dkjd ykxr + vizR;{k dj & lfClMh = cktkj ewY; @ miHkksDrk ewY;
cktkj vk/kkfjr ewY; fu/kkZj.k&
Lora= cktkjksa esa miHkksDrk o foØsrk }kjk dher dk fu/kkZj.k fd;k tkrk gSA

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Economy Notes
❖ Rule of Demand: - dher o ek¡x esa udkjkRed laca/k gksrk gS] vFkkZr dher c<+us ij ek¡x de gksrh gSA
y
dher
x
o ekax
❖ Rule of Supply: - dher ,o vkiwfrZ esa ldkjkRed laca/k gksrk gS vFkkZr tc oLrq dh dher vf/kd gksrh gS] rks mldh
vkiwfrZ Hkh vf/kd gksrh gSA
dher
x
o
vkiwfrZ
&&&&
dher
o ekax@ vkiwfrZ x
tgk¡ Øsrk o foØsrk nksuksa larq"V gksrs gS] ogk¡ dher fu/kkZfjr gksrh gSA
Exceptions of Rule of Demand
1. cqfu;knh vko';drk dh oLrq,¡ %& budh ek¡x dher ls izHkkfor ugha gksrhA tSls & thou j{kd oLrq,a] nokbZ;k] ued] ikuh
vkfnA
2- Giffen goods :- ;fn cktkj esa oLrq dh dher c<+ tk;s rks lhfer vkfFkZd lalk/kuksa ds dkj.k yksx mPp xq.koÙkk dh oLrq,a
NksM+ dj muds LFkku ij fuEu xq.koÙkk dh izfrLFkkiu oLrqvksa dk iz;ksx djuk izkjEHk dj nsrs gSA
Exp. :- xsgw¡ cktjk
20 :-@kg. 10 :-@kg.
30 :-@kg. 15 :-@kg.
3. Veblen Goods :- lkekftd izfr"Bk ls tqMh gqbZ oLrq,¡ pw¡fd vf/kd eg¡xh gksrh gSa blfy, mudh ek¡x gksrh gSA

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Economy Notes
4. Fashionable Goods :-
mRiknu ds {ks= (Sector of production)
vFkZO;oLFkk ds dqy ikap {ks= ekus tkrs gS] buesa ls rhu eq[; o nks lgk;d {ks= ekus tkrs gS &
1. Primary sector 2. Secondary sector 3. Tertiary Sector
4. Quaternary Sector 5. Quinary Sector
1. Primary Sector (Agriculture Sector) :- bl {ks= esa izkd`frd lalk/kuksa ls lacf/kr vkfFkZd fØ;k,a ’kkfey gS lkekU;r %
bl vFkZO;oLFkk esa izkd`frd lalk/kuksa dk izkFkfed voLFkk esa mi;ksx fd;k tkrk gS A
Exp. - d`f"k] i'kqikyu] ou mRikn] eRL; ikyu] [kuu bR;kfnA
→ Hkkjr eas ekbfuax vkSj fo|qr mRiknu dks f}rh;d {ks= esa j[kk tkrk gSA
2. Secondary (Industrial Sector) :- bl {ks= esa [kuu]mR[kuu]fuekZ.k]fofuekZ.k vkfn xfrfof/k;ksa dks 'kkfey fd;k tkrk gS A
• bl {ks= dks m|ksx {ks= ds uke ls Hkh tkuk tkrk gSA
• Hkkjr esa [kuu o fctyh mRiknu dks f}rh;d {ks= esa 'kkfey fd;k tkrk gSA
Exp. :- m|ksx rFkk fuekZ.k dk;Z ¼Hkou] lM+d] iqy] Ýht vkfn½
3. Tertiary Sector/Service Sector: - blds vUrxZr lsokvksa dks 'kkfey fd;k tkrk gS A bls lsok {ks= Hkh dgk tkrk gS
Exp :- cSafdx] chek] f'k{kk] LokLF;] nwjlapkj] gksVy] ifjogu vkfnA
4. Quaternary Sector :- ckSf)d lsokvksa dks blds vUrxZr j[kk tkrk gSa
Exp. :- mPp f'k{kk] fjlpZ] lkaLd`frd xfrfof/k;k¡] ijke'kZnk=h lsok,¡A
5. Quinary Sector: - mPp Lrjh; jktuSfrd o vkfFkZd fu.kZ;u ls lEcfU/kr ls lEcfU/kr lsok,¡A
Exp :- jk"Vªifr] iz/kkueU=h] ukSdj'kkg] ea=h] CEO's, eSEclZ vkWQ cksMZ vkWQ Mk;jsDVlZ ¼funs'kd e.My ds lnL;½
→ vkWLVªsfy;k esa Dokbujh lsDVj ds vUrxZr ?kjsyw dk;ksaZ dks j[kk tkrk gSA
Hkkjr dh jk"Vªh; vk;@thMhih esa lokZf/kd ;ksxnku lsok {ks= dk gSA tcfd jkstxkj dh n`f"V ls lokZf/kd ;ksxnku d`f"k {ks= dk gSA
xjhch dk vk; de
nq"pØ
jkstxkj de cpr de
vk; fuos’k

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Economy Notes
Syllabus
1. ekSfnzd uhfr %&
• cSafdx
• 'ks;j cktkj
• eqnzkLQhfr
2. jktdks"kh; uhfr
• ctV
• djkjksi.k
• ?kkVs
3- Trade Policy
• Hkqxrku lUrqyu
• fons'kh funs'k (FDI or FPI)
• :i;s dh fofue; nj
• fons'kh eqnzk Hk.Mkj
• vUrjkZ"Vªh; laxBu ¼fo'o cSad] IMF, WTO etc.½
4. jk"Vªh; vk;@Economic Growth :-
• GDP, GNP, NNP, GVA etc.
5. Economic Development: -
• (HDR/HDI, IHDI, GII, MPI)
6. Poverty
7. Unemployment
8. Agriculture
9. Industry
10. Planning
cSafdx
➢ 1770 bZ- & cSad vkWQ fgUnqLrku
• Hkkjr esa LFkkfir igyk cSad
➢ 1881 bZ- & vo/k def'kZ;y cSad
• Hkkjrh;ksa }kjk lapkfyr igyk cSad
➢ 1894 bZ- & iatkc us'kuy cSad
• igyk Hkkjrh; cSad@Lons'kh cSad
History of SBI
• 1806 bZ- & cSad vkWQ caxky
• 1840 bZ- & cSad vkWQ ckWEcs
• 1843 bZ- & cSad vkWQ enzkl
• bu rhuksa cSadks dh LFkkiuk ;gka dh izsthMsl
a h ljdkjksa us dh blfy, bUgsa izsthMsfUl;y cSad dgrs gS A
• 1921 bZ- & bu izsthMsfUl;y cSadks dk foy; dj fn;k x;k rFkk bldk u;k uke Imperila Bank of India j[kk x;kA

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Economy Notes
• 1955 bZ- & baihfj;y cSad vkWQ bafM;k dk vkaf'kd jk"Vªh;dj.k dj fn;k x;k rFkk bldk u;k uke State Bank of India
j[kkA bldk LokfeRo RBI ds ikl FkkA
• 2008 esa Hkkjr ljdkj us RBI ls SBI dks [kjhn fy;kA
• 1959 bZ- & fj;klrksa dh cSadks dks SBI dk lgk;d cSad cuk fn;k x;kA
SBI ds ml le; 8 lgk;d cSad Fks&
• 1961 bZ- & LVsV cSad vkWQ chdkusj rFkk LVsV cSad vkWQ t;iqj dk foy; dj fn;k x;k rFkk u;k uke SBBJ j[kkA
• 2008 bZ- & LVsV cSad vkWQ lkSjk"Vª dk foy; SBI esa dj fn;k x;kA
• 2010 bZ- & LVsV cSad vkWQ bankSj dk foy; SBI esa dj fn;k x;kA
• 2017 bZ- & blesa 'ks"k lHkh 5 cSdksa dk foy; SBI esa dj fn;k x;k ¼SBBJ, LVsV cSad vkWQ ifV;kyk½ LVsV cSad vkWQ gSnjkckn]
LVsV cSad vkWQ eSlwj] LVsV cSad vkWQ =ko.kdksj½
Reserve Bank of India

• IDBI - 1976 esa Hkkjr ljdkj us [kjhn fy;kA
• SBI - 2008 esa Hkkjr ljdkj us [kjhn fy;kA
• NABARD - 2010 esa Hkkjr ljdkj us [kjhn fy;kA
• NHB -
• DICGC
vuqlwfpr cSad %
• os cSad ftudk mYys[k RBI ds vf/kfu;e 1934 dh nwljh vuqlwph esa fd;k tkrk gSA
• vuqlwfpr cSad ds fy, 500 djksM dh iw¡th gksuh pkfg,A
• RBI ds lHkh fu;e rFkk fofu;e bu ij ykxw gksrs gSA
• ;s RBI ls lHkh izdkj dh foÙkh; lsok,¡ izkIr dj ldrs gSA
• 12 ljdkjh cSad ] 22 futh cSad rFkk 44 fons’kh cSad vuqlwfpr cSad dh fyLV esa 'kkfey Fks A
Nationalise Bank
• 1969 bZ- & bfUnjk xk¡/kh ljdkj us 14 cM+s cSadksa dk jk"Vªh;dj.k fd;k ftudh iw¡th 50 djksM ;k blls vf/kd FkhA
• 1980 bZ- & bfaUnjk xk¡/kh ljdkj us 6 vU; cSadks dk jk"Vªh;dj.k fd;kA ftUkdh iwt a h 200 djksM+ ;k blls vf/kd Fkh A
• 1993 bZ- & U;w cSad vkWQ bf.M;k dk foy; iatkc us'kuy cSad esa dj fn;kA
• vizsy 2019 & cSad vkWQ cM+kSnk esa nsuk cSad rFkk fot;k cSad dk foy; A
• vxLr 2019 & ;wfu;u cSad vkWQ bafM;k esa vkU/kzk cSad dk foy; A
• vizsy 2020 & ih-,u-ch esa vksfj;Vy cSad vkWQ dkWelZ o ;wukbVsM cSad vkWQ bafM;k dk foy; A
o bfMa;u cSad esa bykgkckn cSad dk foy;
o dsujk cSad esa flafMdsVa cSad dk foy;
• orZeku esa dqy 11 jk"Vªh;d`r cSad gSA
• dqy lkoZtfud {ks= ds cSad & 11 lkoZtfud cSad o ,lchvkbZ

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Economy Notes
Hkkjrh; efgyk cSad

• efgyk cSad dh LFkkiuk 2013 esa dh xbZ FkhA
• 2017 esa vU; cSadks ds lkFk bldk foy; Hkh ,lchvkbZ esa dj fn;k x;kA
Regional Rural Bank

• 2 Oct. 1975 - 5 {ks=h; xzkeh.k cSadks dh LFkkiuk dh xbZA
• dkykUrj esa RRB dh la[;k c<+dj 196 gks xbZ A
• mn~ns'; & xzkeh.k {ks= esa cSafdax lqfo/kk miyC/k djkukA
• flfDde o xksok esa RRB ugha FkhA
• vf/kdka'k RRB ?kkVs esa py jgs Fks blfy, vc budk foy; vU; okf.kfT;d cSadks esa fd;k tk jgk gSA
• RBI us fu;e cuk;k gS fd vuqlwfpr cSadks dh 25% ubZ 'kk[kk,¡ xzkeh.k {ks=ksa esa gksuh vko';d gSA
• RRB dsUnz ljdkj] jkT; ljdkj rFkk okf.kfT;d cSad dk la;qDr miØe gksrh gSA
dsUnz ljdkj dh fgLlsnkjh = 50%
jkT; ljdkj dh fgLlsnkjh = 15 %
okf.kfT;d cSadksa dh fgLlsnkjh = 35 %
lgdkjh cSad okf.kfT;d cSad

1 ;s jkT; fo/kku e.My ds vf/kfu;e ls LFkkfir gksrs gSA ;s lalnh; vf/kfu;e ls LFkkfir gksrs gSA
2. ;s f=Lrjh; <k¡pk gSA ;s ,dLrjh; <k¡pk gSA
Apex Bank - jkT;
Central Bank - ftyk
Cooperative - xzke iapk;r
Society
3. budk dk;Z {ks= lhfer gksrk gSA budk dk;Z {ks= lhfer ugha gksrkA
4. ;s vuqlwfpr cSadksa dh Js.kh esa ugha vkrsA ;s vuqlwfpr cSad gSA
5. ;s NABARD ls foÙkh; lgk;rk izkIr djrs gSA ;s RBI ls foÙkh; lgk;rk izkIr djrs gSA
6. RBI buds fy, fu;e fofu;e cukrk gSA ¼2005 ls½ RBI buds fy, fu;e&fofu;e cukrk gSA
vkjchvkbZ
❖ 1 vizsy 1935
❖ ;ax fgYVu vk;ksx & flQkfj’k 1926
❖ vkjchvkbZ ,DV 1934 & oS/kkfud laLFkk
❖ Hkkjr ljdkj vf/kfu;e 1935 esa Hkkjr esa dsUnzh; cSad dk izko/kku Fkk
o 1947 rd vkjchvkbZ us cekZ ds dsUnzh; cSad ds :Ik esa Hkwfedk fuHkkbZ FkhA
o dqN le; rd blus ikfdLRkku ds dsUnzh; cSad dh Hkwfedk fuHkkbZ FkhA
o LFkkiuk ds le; vkjchvkbZ ,d futh {ks= ds ikl FkkA
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Economy Notes
o 1 tuojh 1949 dks vkjchvkbZ dk jk"Vªh;dj.k dj fn;k x;k FkkA vkjchvkbZ vc ,d ljdkjh laLFkk gS ysfdu vkjchvkbZ
,d Lok;Rr laLFkk gSA
o vkjchvkbZ LFkkiuk ds le; ls gh ,d dsUnzh; cSad FkkA
vkjchvkbZ ds dk;Z %
o uksVksa dk fuxZeu¼tkjh½ djuk
▪ vkjchvkbZ 2 :- ;k blls vf/kd eqY; ds uksV tkjh dj ldrk gSA
▪ 1 : dk uksV vkSj flDds for ea=ky; ds }kjk tkjh fd;s tkrs gSA
▪ vkjchvkbZ bUgsa cktkj esa forfjr djrh gSA
▪ uksV tkjh djus ds fy,
• xksYM vkjf{kr O;oLFkk
• vkuqikfrd vkjf{kr O;oLFkk
• U;wure vkjf{kr O;oLFkk & 1956 esa bl O;oLFkk dks viuk;k x;kA
o orZeku esa vkjchvkbZ dks 200 djksM+ :- ds cjkcj fjtoZ vkjf{kr j[kus gksrs gSA
+200 djksM
115 djksM lksuk 85 djksM dh vU; ifjlEifr
❖ 1996 esa uksVks dh xka/kh lhjht ’kq: dh xbZA rFkk blls igys ykW;u dsfiVy lhjht ¼v’kksd ds lkjukFk LRkEHk½
❖ cSadks dh fouk;ed laLFkk ¼cSadks dk cSad½ %& ;g cSadks dks ykbZll
sa iznku djrk gS A cSadks dks ykbZll
sa dks j) Hkh djrk gS
rFkk cSadks ds fy, fu;e & fofu;e cukrk gSa rFkk mUgsa ykxw djokrk gS A tks cSad fu;eksa ds fo#) dke djrs gS mu ij
dk;Zokgh djuk ] cSfdax {ks= esa fodkl dks lqfuf’pr djrh gS A
❖ ljdkj dk cSadj %& Hkkjr ljdkj ds fy, ?kjsyw _.kksa dh O;oLFkk o izc/ku djrk gS A rFkk ljdkj ds fons’kh _.k dh
O;oLFkk dsUnz ljdkj Lo;a djrh gS A
❖ lkoZtfud _.k izca/ku lsy %& 2016 esa bldh LFkkiuk dh xbZ ;g ,d vLFkkbZ laLFkk gS A tks blds LFkku esa dkykUrj esa
LFkkbZ laLFkk lkoZtfud _.k izca/ku ,tsUlh dh LFkkiuk dh tk;sxh A
o ;g laLFkk Hkkjr ljdkj ds fy, ?kjsyw o ckgjh nksua ks izdkj ds _.kksa dk izcU/ku djsxhA
o fDy;fjax gkml ¼lek’kks/ku x`g½ dh lqfo/kk miyC/k djokuk A
▪ orZeku esa Check truncation system ds ek/;e ls cSadks ds psd fDy;j gksrs gS A
▪ T;knkrj bu gkml dk lapkyu ,lchvkbZ }kjk gh fd;k tkrk gS
▪ fDy;fjax gkml ¼lek’kks/ku x`g½ % & og LFkku tgka ij cSad pSd ds }kjk fd;s x;s Hkwxrkuksa dk fuLRkkj.k
fd;k tkrk gS A
❖ fons’kh eqnzk Hk.Mkj dk laj{k.k % & vkjchvkbZ fons’kh eqnzk Hk.Mkjksa dk lja{k.k djrh gS A blds rgr fuEu phtksa dks
j[kk tkrk gSA
o fons’kh ifjlEifr;k¡ %& ¼MkWyj ] ;wjks ] ;su ] fcfVª’k ikmaM½ gkMZ djsUlh orZeku esa vkjchvkbZ ds ikl 610 vjc dh
gS
o xksYM
o ,lMhvkj %& fo’ks"k vkgj.k vf/kdkj ¼vkbZ,e,Q }kjk tkjh ½
o fjtoZ Vªp sa %& vkbZ,e,Q ds ikl gekjh tek gS A
o : dh fofue; nj dk izca/ku djuk A
▪ : dh fofue; nj cktkj ds }kjk fu/kkZfjr gksrh gSA vFkkZr ekax o vkiwfrZ ds vk/kkj ij fu/kkZfjr gksrh gSA ;fn
:Ik;k etcwr gksrk gSA rks vkjchvkbZ MkWyj [kjhnrh gS ;fn :Ik;k detksj gksrk gS rks vkjchvkbZ MkWyj csprh gSA
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Economy Notes
o Ckktkj dh rjyrk dks fu;af=r djukA

▪ Ckktkj dh rjyrk dks fu;af=r djus ds fy, vkjchvkbZ nks izdkj ds midj.k iz;ksx esa ysrh gSA
Ekk=kRed mik; Xkq.kkRed mik;

Bank Rate Margin Requirement
CRR Consumer Credit Regulation
SLR Rationing of Credit
Reop Rate Moral Suarion
Reverse RepoRate Direct Action
MSF RATE
OPEN MARKET OPERATION
T.L.T.R.O/LTRO
o Bank Rate :- ¼cSad nj½ %&og C;kt nj vkjchvkbZ cSadks dks nh?kZdkfyd _.k miyC/k djokrh gS ;g ,e,l,Q jsV ds
cjkcj gksrh gSA rFkk bu nksua ks dks fiuy jsV dgrs gS A D;ksfa d tks cSad lh,yvkj vkSj ,l,yvkj dks esVa su ugha djrs gS mu ij
;g C;kt nj yxkbZ tkrh gS A ;g jsiks jsV ls vf/kd gksrh gS A
o uxn vkjf{kr vuqikr %& lHkh cSadks dks viuh ‘kq) ns;rkvksa dks ,d fuf’pr izfr’kr vkjchvkbZ ds ikl tek djokuk iM+rk gS
ftl ij vkjchvkbZ dksbZ C;kt ugha nsrk gS A
▪ ;s vkikr fLFkfr;ksa ds fy, gksrk gS A
o oS/kkfud rjyrk vuqikr (SLR) :- lHkh cSadks viuh 'kq) ns;rkvksa dk ,d fuf’pr izfr’kr rjy ifjlaifr;ksa ds :Ik esa j[kuk
gksrk gS
▪ orZeku esa ;g 18 izfr’kr gS
▪ lHkh cSadks dks viuh ‘’kq) ns;rkvksa dk ,d fuf’pr izfr’kr ljdkjh izfrHkwfr;ksa esa fuos’k djuk vko’;d gS A bl ij cSadks dks
C;kt izkIr gksrk gS A
o jsiks jsV %& og C;kt nj ftl ij vkjchvkbZ cSadks dks vYidkfyd _.k miyC/k djokrh gS A lkekU;r% ;s 28 fnu rd fn;k
tkrk gS A jsiks jsV cSad jsV vkSj ,e,l,Q jsV ls de gksrh gS ;g _.k ysus ds fy, cSad ds ikl izfrHkwfr;ka fxjoh j[kuh gksrh
gS A
o jsiks jsV dks uhfrxr jsV ;k cSap ekdZ jsV dgrs gS
o fjolZ jsiks jsV %&
▪ og C;kt nj ftl ij cSad viuk /ku vkjchvkbZ ds ikl tek djkrs gSA
,y,,Q
▪ ;g lqfo/kk vkjchvkbZ us lu 2000 bZ- esa vkjEHk dhA
▪ blds rgr jsiks cktkj dk fodkl fd;k x;k A
• jsiks dh Qqy QkWeZ %& iqu[kZjhn fodYi (Repurchaes Option)
▪ jsiks ekdsVZ %& ;fn /ku dk foØsrk ,d fuf’pr le; ckn vius /ku dks iqu% [kjhnus dk fodYi vius ikl lqjf{kr j[krk gS bls
jsiks cktkj dgrs gSaA
▪ Hkkjr esa vkjchvkbZ o cSadks ds chp vYidkfyd ysunsu dks jsiks ekdsVZ dgrs gS
▪ bl ysunsu ds nkSjku izfrHkwfr;k¡ fxjoh j[kh tkrh gS A
▪ bldh C;kt njsa fjolZ jsiks jsV o jsiks jsV dgykrh gS
▪ ujflEgu lfefr dh lykg ds ckn ;g izfØ;k viukbZ xbZ A
▪ bldh C;ktnjsa jiks jsV@fjolZ jsiks jsV dgykrh gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
,e-,l-,Q (Marginal Standing Facility)
▪ ;s lqfo/kk vkjchvkbZ us 2011 bZ - esa vkjEHk dh A

▪ cSadks dh vfrvYidkfyd rjyrk ls lacaf/kr leL;k ds lek/kku ds fy, ;g lqfo/kk tkjh dh xbZ gSA
▪ bl lqfo/kk ds rgr vuqlwfpr cSad vkjchvkbZ ls ,d fnu ds fy, _.k ys ldrs gSA
▪ blds rgr de ls de 1 djksM+ :Ik;s ysus gksrs gS ,d djksM+ ls vf/kd ,d djksM+ ds xq.kd ds :Ik esa gks ldrs gSA
▪ vf/kdre jkf’k cSad dh Lo;a dh 'kq) ns;rkvks ¼ek¡x tek o vof/k tek½ ds ,d izfr’kr rd ys ldrh gSA
▪ bldh C;kt nj ,e-,l-,Q jsV dgykrh gSA vkSj ;g cSad jsV ds cjkcj gksrh gSA
▪ bls fiuy jsV Hkh dgrs gS
▪ ,e,l,Q ds rgr tc vkjchvkbZ ls _.k ysrh gS rks ,l-,y-vkj ds rgr [kjhnh xbZA izfrHkwfr;ksa dks Hkh vkjchvkbZ ds ikl
fxjoh j[kh tk ldrh gS A
▪ ysfdu jsiks cktkj ds fy, cSad ,l-,y-vkj dh izfrHkwfr;ksa dk iz;ksx ugha dj ldrs gSA
[kqys cktkj dh fØ;k (Open Market Operations)

▪ cktkj dh rjyrk dks fu;af=r djus ds fy, vkjchvkbZ dk ;g ,d vfrfjDr midj.k gSA
▪ blds rgr izfrHkwfr;ksa dh [kjhn o fcØh dh tkrh gS A
▪ ;fn cktkj esa rjyrk vf/kd gS vFkkZr mPp eqnzkLQhfr dh fLFkfr gSA rks vkjchvkbZ izfrHkwfr;ksa dh fcØh djrk gSA
▪ ;fn cktkj esa rjyrk de gS vFkkZr voLQhfr ;k vkfFkZd eanh dh fLFkfr gSA rks vkjchvkbZ cktkj ls izfrHkwfr;ksa dks [kjhnrh gSA
▪ jsiks cktkj esa izfrHkwfr;ksa dks fxjoh j[kk tkrk gS tcfd [kqys cktkj dh fØ;k esa izfrHkwfr;ksa dks cstk tkrk gSA
▪ jsiks cktkj vYidkfyd gS tcfd [kqys cktkj dh fØ;k jsiks cktkj dh rqyuk esa nh?kZdkfyd mik; gS
nh?kZdkfyd jsiks vkWijs’ku

▪ cktkj esa rjyrk dks c<+kus ds fy, vkjchvkbZ ds }kjk iz;ksx es fy, tkus okyk ;g Hkh vfrfjDr midj.k gS
▪ 2020 bZ- esa bls vkjEHk fd;k x;k gSA
▪ ,yVhvkjvks ds rgr vkjchvkbZ cSadks dks 1 o"kZ ls 3 o"kZ rd dh vof/k ds fy, _.k miyC/k djokrk gS blesa jsiks nj ls C;kt
olwyk tkrk gSA blds fy, ljdkjh ifjlEifr;ksa dks Hkh fxjoh j[kuk iM+rk gSA
▪ ,yVhvkjvks 1 ds rgr 1 yk[k djksM+ : ds _.k vkjchvkbZ ds }kjk fn;s x;s gS A
▪ ,yVhvkjvks 2 ds rgr 50 gtkj djksM+ : ds _.k vkjchvkbZ ds }kjk fn;s x;s gS A
▪ Targeted ltro:& vkjchvkbZ us ,yVhvkjvks dks Vh&,yVhvkjvks ds :Ik esa ykxw fd;k gS blds rgr vkjchvkbZ us cSadks dks _.k
nsrs le; _.k ds mi;ksx ds y{; Hkh fu/kkZfjr fd;s gS
▪ ;g mi;ksx lcls igys 2009 esa ;qjksfi;u lsUVªy cSad us Hkh bl midj.k dk iz;ksx fd;k Fkk A
o ;fn cSad vkjchvkbZ ls nks fnu dh vf/kd vof/k ds fy, _.k ysrs gS ¼vf/kdre 28 fnu ½ rks C;kt nj VeZ jsiks jsV dgykrh
gSA
o ;fn cktkj es rjyrk vf/kd gS vFkkZr~ mPPk eqnzkLQhfr dh fLFkfr gS rks bls fu;af=r djus ds fy, vkjchvkbZ cSad
jsV]lhvkjvkj],l,yvkj]jsiks jsV]fjolZ jsiks jsV] ,e,l,Q jsV Ck<+krh gSA
o ;fn vofLQhfr dh fLFkfr gS ;k vkfFkZd eanh gS bldk vFkZ dh cktkj esa rjyrk de gS A dh cktkj dh rjyrk dks c<+kus
ds fy, vkjchvkbZ cSad jsV]lhvkjvkj],l,yvkj]jsiks jsV]fjolZ jsiks jsV] ,e,l,Q jsV de djrh gSA
xq.kkRed mik;%
Margin Requirement: blds rgr Margin Money dks de fd;k tkrk gS ;fn eqnzkfLQhfr vf/kd gS rks bls fua;f=r djus
ds fy, Margin Money dks c<+k fn;k tkrk gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
▪ blds foifjr vofLQhfr ;k vkfFkZd eanh dh fLFkfr gS rks Margin Money dks de dj fn;k tkrk gS A blls ekax vf/kd gks
tkrh gS rFkk vkiwfrZ vf/kd gks tkrh gSA
Consumer Credit Regulation ¼miHkksDrk lk[k fofu;eu½& blds rgr Mkmu iseV sa dh jkf’k dks de ;k vf/kd fd;k tkrk
gSA
▪ mPp eqnzkfLQhfr dh fLFkfr dks fu;af=r djus ds fy, Mkmu iseVsa dh jkf’k dks vf/kd dj fn;k tkrk gS A;fn vkfFkZd eanh fd
fLFkfr gS vFkkZRk~ cktkj esa ekax de gS rks ekax dks c<+kus ds fy, Mkmu iseVsa dh jkf’k dks de dj fn;k tkrk gSA
Rationing of Credit :- ;fn mPp eqnzkLQhfr dh fLFkfr gS rks cSad miHkksDrkvksa dks de _.k miyC/k djokrs gS rFkk fuos’kdksa
dks vf/kd _.k iznku djrs gS A ftlls dh mRiknu c<+s rFkk cktkj esa vkiwfrZ vf/kd gks ;fn vofLQhfr ;k vkfFkZd eanh dh
fLFkfr gS rks cSad miHkksDrkvksa dks vf/kd _.k miyC/k djokrs gS A rkfd ekax c<+ lds
Bank
Investore
Consumer
Invest
Demand & Supply Production
o Moral Suasion :- blds rgr vkjchvkbZ cSadks ij uSfrd ncko mRiuu djrh gS ;fn mPp eqnzkfLQhfr dh fLFkfr gS rks de
_.k nsus dk ncko cukrh gS ;fn mPp vofLQhfr ;k vkfFkZd eanh dh fLFkfr gS rks _.k nsus dk ncko cukrh gSA
o Direct Action :- blds rgr vkjchvkbZ cSadks dks funs’Z k nsrh gS ;fn cSad funs’Z kksa dk ikyu ugha djrh gS rks vkjchvkbZ muds
fo:) dk;Zokgh djrh gSA
izkFkfed _.k {ks=&
cSadks dks viuh _.k ;ksX; ¼,,uchlh½ jkf’k dk 40 izfr’kr izkFkfedrk okys {ks= dks nsuk vko’;d gS
o izkFkfedrk {ks= dks rhu Hkkxksa esa ckaVk x;k gS
▪ d`f"k & 18 izfr’kr ¼ y?kq o lhekUr &10 izfr’kr½
▪ lw{e m|ksx & 7-5 izfr’kr
▪ detksj oxZ & 12 izfr’kr
o izkFkfedrk _.k ds fy, vU; {ks= %&
▪ y?kw m|ksx o e/;e m|ksx
▪ fu;kZrd
▪ ,llh] ,lVh] efgyk,a] dPph cLrh okys yksx
▪ vkokl %& 35 yk[k ¼’kgjks½a xzkeh.k 25 yk[k
▪ ,uch,Qlh & ,e-,Q-vkbZ
▪ f'k{kk & 20 yk[k rd ds _.k
o {ks=h; xzkeh.k cSadks dks _.k ;ksX; jkf’k dk 75 izfr’kr izkFkfedrk okys {ks= esa nsuk gksrk gS A
o LekWy cSadks dks Hkh _.k ;ksX; jkf’k dk 75 izfr’kr izkFkfedrk okys {ks= dks nsuk gksrk gSA
o 'kgjh lgdkjh cSad dks _.k ;ksX; jkf’k dk 40 izfr’kr izkFkfedrk okys {ks= dks nsuk gksrk gS ysfdu bls Øfed :Ik ls c<+k;k
tk jgk gS vkSj vkjchvkbZ us bls 2024 rd 75 izfr’kr djus dk y{; fn;k gSA
ih-,l-,y izek.k i=
o 2016 bZ- esa vkjchvkbZ- us bl lsok dks ‘’kq: fd;k blds rgr tks cSad izkFkfed {ks= esa vius Yk{; ls vf/kd _.k nsrs gS os ih-
,l-,y izek.k i= tkjh dj ldrs gS A rFkk os cSad tks vius ih-,l-,y y{; dks Hksn ugha ikrs gS oks ;s izek.k i= [kjhn dj
vius y{; dks iwjk dj ldrs gS A
▪ 4 izdkj ds ih-,l-,y izek.k i= tkjh fd;s tkrs gS
Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
• d`f"k ih-,l-,y izek.k i= %

• Yk?kq ;k lhekUr ih-,l-,y izek.k i=
• lq{e m|ksx ih-,l-,y izek.k i=
• lkekU; ih-,l-,y izek.k i=
▪ ih-,l-,y izek.k i= ,d foÙk o"kZ rd gh ekU; gksrs gSA
o ;fn dksbZ cSad vius ih-,l-,y y{; dks iwjk ugha djrk gS rks vkjvkbZMh,Q ml ij tqekZuk yxkrh gS A
❖ iwath i;kZIrrk vuqikr ¼lh-,-vkj½%& cSadks dks viuh tksf[ke ;qDr ifjlEifr;ksa ds ,d fuf’pr izfr’kr rd Lo;a dh iwt
a h cuk;s
j[kuh gksrh gSA
• lh-,-vkj dh vo/kkj.kk csly ekudksa ds rgr viukbZ
xbZ gS
(Bank For International Settlement)
• bldh LFkkiuk 1930 esa gqbZ Fkh

• ;g dsUnzh; cSadks dk laxBu gS
• cSafdx {ks= esa vuql/a kku dks izksRlkgu nsuk rFkk cSafdax
{ks= ds fodkl ds fy, fn’kk funs’Z k tkjh djuk A
bu fn’kk funs’Z kks dks csly ekud dgrs gS A
• bldk eq[;ky; fLoV~tjySaM ds csly 'kgj esa gSA
• csly izFke & 1988 bZ-

• csly f}rh; & 2004 bZ-
• csly r`rh; & 2010 bZ-
• chvkbZ,l ds }kjk tkjh fd, x;s csly ekud dsUnzh; cSadks ds fy,
ck/;dkjh ugha gS A
• ;fn dsUnzh; cSad Lohdkj djrk gS rFkk ns’k esa ykxw djrk gS rks cSadks ds
fy, ;s ck/;dkjh gSA
• 1996 bZ- esa vkjchvkbZ chvkbZ,l dh lnL; cuh Fkh A
• 1999 bZ- esa igyh ckj csly ekudks dks Lohdkj fd;k Fkk A
• orZeku esa csly 3 ekud ykxw fd, x;s gS A cSadks dks 2020 rd dk le; fn;k x;k Fkk A fd oks csly ekudksa dks iqjk
djsa A
• csly & 3 ekudksa ds vuqlkj lh-,-vkj 8% gksuk pkfg, A
• vkjchvkbZ ds vuqlkj futh {ks= ds cSadks ds fy, lh-,-vkj 9% gksuk pkfg,A rFkk lkoZtfud {ks= ds cSadks ds fy, 12 %
gksuk vko';d gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
dkWy euh ekdsZV (Call Money Market)

o jkstejkZ ds ysunsu ds nkSjku dqN cSadks ds ikl /ku dh deh mRiUu gks tkrh gS ysfdu mlh le; dqN vU; cSadks ds ikl
vfrfjDr /ku miyC/k gksrk gS ,slh fLFkfr esa cSdks ds chp tks ysunsu gksrk gS mls dkWy euh ekdsVZ dgrs gS A blesa Qksu dkWy
ij gh ysunsu dh lHkh 'krsZ fu/kkZfjr gksrh gS blfy, bls dkWy euh ekdsVZ dgrs gSA pwfa d Qksu dkWy ij /ku miyC/k gksrk gS
blfy, bls Money at Market Hkh dgrs gS rFkk bldh C;kt nj dks dkWy jsV dgrs gSA dkWy jsV esa vR;f/kd mrkj p<+ko gksrs
gSA lh-vkj-vkj dks cuk;s j[kus ds fy, Hkh dkWy euh ekdsVZ dk iz;ksx fd;k tkrk gS rFkk dkWy jsV ds vR;f/kd mRkkj&p<+ko
dks ns[krs gq, vkjchvkbZ us jsiks cktkj vkSj ,e-,l-,Q dks ’kq: fd;k x;k A
o dkWy euh ekdsVZ esa lkekU;kr;k ,d fnu ds fy, /ku m/kkj fy;k tkrk gS ;fn ,d fnu ds fy, iSlk m/kkj fy;k tkrk gS rks
bls dkWy euh dgrs gSA ;fn ,d fnu ls vf/kd fnu ds fy, fy;k tkrk gS rks bls uksfVl euh dgrs gS A vf/kdre 14 fnu
ds fy, fy;k tkrk gSA ftUgsa lh-vkj-vkj vkSj ,l-,y-vkj esVa su djuk gksrk gS oks blesa _.k izkIr djrk vkSj _.knkrk nksuksa
izdkj dh Hkwfedk fuHkk ldrs gSA tSls %& vuqlwfpr cSad] dkWijsfVo cSad] vkj-vkj-ch cSad] ,u-ch-,Q-lh CkSad rFkk dqN cSads tks
dsoy _.k nkrk dk dk;Z gh dj ldrh gS & ,y-vkbZ-lh] ukckMZ] ,u-,p-ch vkfn
o dkWy jsV dks lanHkZ nj Hkh dgrs gS A D;ksfa d dsUnzh; cSad cktkj dh rjyrk dks ns[kus ds fy, bl nj dk lanHkZ ds :Ik esa iz;ksx
fd;k tkrk gSA eqacbZ Hkkjr dk lcls cM+k dkWy euh ekdsVZ gS eqacbZ dh lanHkZ jsV fecksj dgykrh gSA 30 cSadks dh dkWy jsV ds
vkadM+s fy;s tkrs gS vkSj mlls ,d vkSlr C;kt nj fudkyh tkrh gS ftls fecksj dgrs gSA yanu fo’o dk lcls cM+k dkWy euh
ekdsVZ gS vkSj ;gka dh lanHkZ nj fycksj dgykrh gSA
mftZr IkVsy desVh

• fnlacj 2013 esa bl lfefr dk xBu fd;k x;k A
• 2014 esa lfefr us viuh flQkfj’ks ns nh A
eq[; flQkfj’ks
• vkjchvkbZ dk dsoy ,d gh m)s’; gksuk pkfg, ^^eqnzkLQhfr dks fu;f=r djukA
• vkjchvkbZ ds vU; m)s’;ksa dks viuh izkFkfedrk esa ugha j[kuk pkfg,A tSls& lao`f) nj]jkstxkj l`tu ] fuokZr ds izksRlkgu
] fofue; nj dk izca/ku vkfnA
• eqnzkLQhfr ds ekius ds fy, ohihvkbZ o lhihvkbZ nks lwpdkadksa dk iz;ksx fd;k tkrk gSA ohihvkbZ ds LFkku ij lhihvkbZ ds
eq[; lwpd a kad cuk;k tkuk pkfg,A
• yf{kr eqnzkLQhfr 4 izfr’kr gksuh pkfg, rFkk ;g Ily@ekbul rd Lohdk;Z gSA
• ekSfnzd uhfr leh{kk 45 fnuksa ds ctk; 60 fnu ds varjky ls dh tkuh pkfg,A
• ekSfnzd uhfr ds fu/kkZj.k@leh{kk ds fy, ekSfnzd uhfr lehfr dk xBu fd;k tkuk pkfg,A
• ekSfnzd uhfr lfefr 5 lnL; gksus pkfg,A
• eqnzkfLQhfr dks fua;f=r djus ds fy, ljdkj dk lg;ksx Hkh vko’;d gSA vkSj ljdkj dks vius yksddY;k.kdkjh O;; dks
de djuk pkfg, ftuls dsoy ekax c<+rh gS tSls & eujsxk] [kk| lqj{kk dk;ZØe
• ljdkj ds ,QvkjCkh,e ,DV ds Yk{; dks gkfly djuk pkfg,A
ekSfnzd uhfr lfefr

• 2016 esa ekSfnzd uhfr lfefr dk xBu fd;k x;k 2015 blds fy, laln esa ,d vf/kfu;e ikfjr fd;k FkkA vr % ;g ,d
oS/kkfud laLFkk gSA
• bl lfefr esa 6 lnL; gksrs gSa A
o 3 lnL; vkjchvkbZ ds
Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
▪ xouZj ¼v/;{k½ ] mi xouZj ] dk;Zdkjh funs’kd

o 3 lnL; ljdkj
▪ dk;Zdky 3 o"kZ ds fy,
▪ ;g fdlh ykHk ds in ij ugha gkus pkfg,A
• lfefr dh cSBd 'kq: djus ls igys x.kiwfrZ ds fy, 4 lnL; mifLFkr gksus t:jh gSA lfefr viuk fu.kZ; cgqer ls ysxhA
;fn cjkcj ernku gksrk gS rks v/;{k fu.kkZ;d er ns ldrk gSA nks eghusa esa ,d cSBd vko’;d gSA lfefr dh cSBd esa
iw.kZ ikfjnf’kZrk gksuh pkfg,A
• ekSfnzd lfefr dk m)s’; gS eqnzkfLQhfr dks fua;f=r djuk vkSj ;fn rhu =Sekfld ¼9 eghus½ rd fua;f=r ugha fd;k tkrk
gS rks lfefr dks Li"Vhdj.k nsuk gksxkA D;ksa ugha gqbZ fua;f=r] dc rd gksxh] vkSj dSls gksxhA lfefr ds fu.kZ; ysus esa
xouZj ds ikl ohVks ikWoj ugha gksrk gSA
ujflEgu lfefr izFke 1991 bZ-

• cSadks dk jk"Vªh;dj.k ugha fd;k tkuk pkfg,A futh {ks= ds cSadks dks izksRlkgu fn;k tkuk pkfg,A fons’kh cSadks dks Hkkjr esa
izksRlkgu fn;k tkuk pkfg,A fons’kh cSadks vksj Hkkjrh;ksa cSadks ds e/; dksbZ HksnHkko ugha fd;k tkuk pkfg,A lkoZtfud {ks=
ds cSadks esa ljdkj dh fgLlsnkjh de djds 51 izfr’kr dj nsuh pkfg,A lh-,y-vkj vkSj ,l-,l-vkj dks de fd;k tkuk
pkfg,A
• ns’k esa 3 Lrj ds cSad LFkkfir gksus pkfg, A
o vUrjkZ"Vªh; Lrj
o jk"Vªh; Lrj
o LFkkuh; Lrj
ØsfMV bUQksjes’ku C;wjks dh LFkkiuk dh tkuh pkfg,A 2000 bZ- esa LFkkiuk dh xbZA
• _.k olwyh U;k/khdj.k dh LFkkiuk fd tkuh pkfg,A
• Asset Reconstruction Fund dh LFkkiuk fd tkuh pkfg,A
ujflEgu lfefr f}rh; 1998 bZ-

• cSadks ds vkilh foy; dks izksRlkgu fn;k tkuk pkfg,A detksj cSadks dk foy; etcwr cSadks esa ugha fd;k tkuk pkfg,A
detksj cSadks dks usjks cSafdx ds fy, izksRlkfgr fd;k tkuk pkfg,A
• usjks cSad dh lqjf{kr {ks= esa _.k
o ljdkjh izfrHkwfr;ksa esa iz;ksx djuk
• lkoZtfud {ks= dh CkSadks ds vf/kd Lok;Rrk nsuh pkfg,A lkoZtfud {ks= ds cSadks esa ljdkj dh fgLlsnkjh 51 izfr’kr ls de
djds 33 izfr’kr rd dj nsuh pkfg, A ¼vFkkZr & futhdj.k djuk½ csly ekudks dks viuk;k tkuk pkfg, blesa lh-,-
vkj lqfuf’pr fd;k tkuk pkfg,A
• ,uch,Qlh dks vkjchvkbZ ds fofu;eu ds rgr ykuk pkfg,A rFkk foÙk cktkj esa budh Hkwfedk dks vf/kd egRoiq.kZ fd;k
tkuk pkfg,A Mh,QvkbZ dks cSadks ds :Ik esa cny nsuk pkfg,A fons'kh laLFkkxr fuos’kdks dks Vh& fcy esa fuos’k dh vuqefr
nh tkuh pkfg, A
eqnzk vkiwfrZ
• vkjchvkbZ cSadks dh lgk;rk ls eqnzk dh vkiwfrZ djrk gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
1- pkyw tek [kkrk &

ekax tek
2- cpr tek [kkrk &
3- vko`fr tek [kkrk

vof/k tek
4- fQDlM tek [kkrk
‘’kq) ns;rk,a (NDTL) = dqy ns;rk,a & cSadks dh tek,
eqnzk vkiwfrZ ds leqPp;

• M1- turk ds ikl uxn + cSad ds ikl ekax tek + vkjchvkbZ ds ikl vU; tek,a ¼ljdkj dh tek,a] vU; ns’kksa dh dsUnzh;
cSadks dh tek,a ] vkbZ,e,Q vkfn dh tek,a½
• M2- M1+ Mkd?kj dh vof/k tek,a
• M3- M2+ cSad dh vof/k tek,a
• M4- M3+ Mkd?kjksa dh lHkh tek,a ¼ekax o vof/k tek½
• M1 dks ladh.kZ eqnzk dgrs gS D;ksfa d ;g cSadks ds lk[k ltZu esa dke ugha vkrh gS A
• M2 dks ladh.kZ eqnzk dgrs gS D;ksfa d ;g cSadks ds lk[k ltZu esa dke ugha vkrh gS A
• M3 bls o`g~r eqnzk dgrs gS A D;ksfa d cSad blds }kjk gh lk[k ltZu djrs gS A
rjyrk ds n`f"V dks.k ls M1> M2> M3> M4
• M0= turk ds ikl uxn + vkjchvkbZ dh vU; tek,a + cSad ds ikl uxn ¼lhvkjvkj½
• M0 dks mPp 'kfDr eqnzk dgrs gSA bls fjtoZ eqnzk Hkh dgrs gSA bls ekSfnzd vk/kkj Hkh dgrs gSA
• dsUnzh; cSad M0 ds }kjk cktkj dh rjyrk dks fua;f=r djrh gSA M0 vf/kd gksxk rks rjyrk vf/kd gksxh rks eagxkbZ gksxh
rks rjyrk dks de djus ds fy, vkjchvkbZ M0 dks de djrh gSA cktkj dh rjyrk dks vf/kd djuh gS rks M0 dks vf/kd
dj nsxh A
• M0 dks vkjchvkbZ dh ns;rk,a Hkh dgrs gSA
cSadks ds }kjk lk[k ltZu %& lhvkjvkj vf/kd gS rks lk[k ltZu de gksxkA lhvkjvkj de gS rks lk[k ltZu vf/kd gksrh gSA
vkjchvkbZ lhvkjvkj dks de ;k T;knk djds lk[k ltZu de o T;knk dj ldrh gSA ;fn mPp eqnzkfLQhfr dh fLFkfr gS rks bldks
fu;af=r djus ds fy, vkjchvkbZ lhvkjvkj dks c<+krh gSA
lhvkjvkj vf/kd gS rks lk[k ltZu de gksxk

20 % 20 % 20 % 20 %
100 :- 80 :- 64 :- 51 :- 41 :-
lhvkjvkj de gS rks lk[k ltZu vf/kd gksrh gS

4% 4% 4% 4%
100 :- 96 :- 92.16 :- 88.47:- 84.94 :-

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
eqnzkxq.kkad &1@lhvkjvkj ;k M3/M0

• eqnzkxq.kkd vkSj lhvkjvkj esa udkjkRed laca/k gksrk gSA lhvkjvkj vf/kd rks eqnzk xq.kkad de vkSj eqnzk xq.kkad vf/kd rks
lhvkjvkj de gksrk gS fuEufLFkfr;ksa esa eqnzkxq.kkad esa o`f) gksrh gS
o lhvkjvkj de gks rks
o vFkZO;oLFkk etcwr gks
o miHkksDrk T;knk gks
o yksxks dk cSadks ds izfr yxko vf/kd gksuk
o fMftVy ise a sV vf/kd gks rks
• M3 vf/kd rHkh gksxk tc M0 vf/kd gks rFkk eqnzk xq.kkad Hkh T;knk gksuk pkfg,A lhvkjvkj T;knk gks] eqnzk dk osx vf/kd
gks] ljdkj vxj vf/kd _.k ys rksA vkjchvkbZ dh lLrh ekSfnzd uhfr & C;kt njsa de gksukA eagxh ekSfnzd uhfr & C;kt
njs vf/kd gksukA
• fofÙk; lekos’ku
• cSadks ds izfr vf/kd yxko gks
o M3 dks gh eqnzk dh vkiwfrZ dgrs gSA
• vkjchvkbZ dh ifjlEifr;ka vkSj mldh ns;rk,a cjkcj gksrh gS A
• vkjchvkbZ dh ifjlEifr;ka & 1- flDds ] 2-lksuk ] 3- fons’kh eqnzk ] ljdkj ds cksM
a
vkjchvkbZ }kjk tkjh fd, x, u, ,xzhesVa l ¼leqPp;½
• NM1 :- turk ds ikl uxn + cSad ds ikl ekax tek + vkjchvkbZ ds ikl vU; tek,a ¼ljdkj dh tek,a ] vU; ns’kksa dh
dsUnzh; cSadks dh tek,a ] vkbZ,e,Q vkfn dh tek,a ½
• NM2 :- NM1+ cSad dh vYi dkfyd vof/k tek ¼fuoklh½ + cSad ds }kjk tkjh dh xbZ lh-Mh
• NM3 :- NM2+ cSad dh nh?kZdkfyd vof/k tek ¼fuoklh½ + Term Deposite of Banks
• L1 = NM3 + Mkd?kjksa dh lHkh tek,a ¼us’kuy lsfoax ckWUM~l blesa 'kkfey ugha gksrs½
• L2 = L1 + Refinance Agency (Deposites+Borrowings+Certificate on Deposites)
• L3 = L2 + Deposites of NBFC
vkjchvkbZ vius vkadM+s dc tkjh djrh gSA
• M0 ds vkadM+s gj lIrkg esa tkjh djrh gSA Nm1+Nm2 ds vkadM+s gj i[kokM+as esa tkjh djrh gSA L1 + L2 ds vkadM+s gj
eghus esa tkjh djrh gSA L3 ds vkadM+s gj rhu eghus esa tkjh fd;s tkrs gSA
(BPLR) – Benchmark Prime Lendig Rate
• 2004 esa bls vkjEHk fd;k x;kA og C;kt nj tks vius lcls vPNs miHkksDrk dks iznku dh tkuh tkrh gSA
• cSad ds nks izdkj ds miHkksDrk gksrs gS-
o izkbe miHkksDrk
o lcizkbe miHkksDrk %& ftu miHkksDrk esa tksf[ke de gksrk gS
• lkEkkU; C;ktnj = PLR + tksf[ke
• bldh x.kuk dks dksbZ vk/kkj ugha FkkA blesa dksbZ ikjnf’kZrk ugha FkhA ih,yvkj cSadks ds fy, ck/;dkjh ugha Fkh cSad de
nj is Hkh _.k ns ldrh FkhA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
Base Rate
• 2010 esa bls PLR ds LFkku ij bldks 'kq: fd;k x;kA cSad ds }kjk miyC/k djokbZ xbZ U;qure C;ktnj vFkkZr cSad blls
de C;ktnj ij C;kt fdlh dks ugha ns ldrk gSA
• csl jsV dh x.kuk fuEu dkjdksa ds vk/kkj ij dh tkrh FkhA
▪ Cost of Fund
▪ Cost of CRR
▪ Operating Expensex
▪ Profit
dkykUrj esa vkjchvkbZ us viuh jsiksjsV de dh ysfdu mlds vuq:Ik cSadks us viuh C;ktnjksa (Base Rate) dks de ugha fd;k D;ksfa d
csl jsV izR;{k :Ik jsiks jsV ls tqM+h gqbZ ugha Fkh blfy, ekSfnzd uhfr dks vf/kd izHkkoh cukus ds fy, csl jsV ds LFkku ij ,elh,yvkj
dks ykxw fd;kA
MCLR – Marginal Cost of Fund Based Lending Rate
• 2016 bZ- esa csl jsV ds LFkku ij bls ykxw fd;k x;kA
• fuEu dkjdksa ds vk/kkj ij MCLR dh x.kuk dh tkrh gS
o Marginal Cost of Fund
o Nagetive Carry on Acc. Of CRR
o Operating Expensex
o Tenor Premium :- nh?kZdkfyd _.kksa ij olqyk tkus okyk vfrfjDr C;kt
• cSadks ds fy, ;g vfuok;Z dj fy;k gS fd izfrekg dh MCLR x.kuk dh tk;sA cSad csljsV ls de nj ij _.k ugha ns ldrk
gSA MCLR ds ykxw gksus ls vkjchvkbZ dh ekSfnzd uhfr vf/kd izHkkoh gks xbZ gSA og cktkj dh C;ktnjksa dks de T;knk dj
ldrh gSA cSad MCLR ls T;knk C;kt nj olwy ldrh gSA
iseVsa cSad
• bldh LFkkiuk 2007 esa fd xbZ FkhA vko’;d iwt a h & 100 djksM+ dh iwt
a hA izeksVjlZ dh fgLlsnkjh & 40 izfr’krA m)s’; &
vkWuykbZu Hkqxrku dh lqfo/kk miyC/k djokukA
• foÙkh; lekos’ku
• ufpdsrk eksj desVh dh flQkfj’k ls iseVsa cSad LFkkfir dh xbZ FkhA ;g 2 yk[k rd dh tek,a Lohdkj dj ldrs gSA ;g vof/k
tek,a ugha ls ldrs gSA ;g MsfcV dkMZ miyC/k djokrk gSA ;g uxn fudklh dh lqfo/kk nsrk gSA ;g _.k ugha ns ldrs gSA
;g ØsfMV dkMZ tkjh ugha dj ldrs gSA budks lh-,y-vkj vkSj ,l-,y-vkj ds ekudksa dk ikyu djuk gksrk gSA
• lh-vkj-vkj tek djkus ds ckn 'ks"k jkf’k dk 75 izfr’kr ,l-,y-vkj ds :Ik esa tek djokuk gksrk gSA 'ks"k 25 izfr’kr cSad [kkrksa
esa tek gksuk pkfg,A
o isVh,e cSad] ,;jVsy cSad]
LEkkWy cSad
• LFkkiuk & 2015
• vko';d iwt a h & 100 djksM+
• izeksVlZ dh fgLlsnkjh & 40 djksM+

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
• m)s’; & foÙkh; lekos’ku

• ;g xzkgdks dks 4 izdkj ds [kkrksa dh lqfo/kk miyC/k djokrk gSA ;g fdruh Hkh tek,a ys ldrs gS bUgsa lh-,y-vkj ] ,l-,y-
vkj ds fu;eksa dk ikyu djuk iM+rk gSA bUgsa 50 izfr’kr dh jkf’k NksVs _.k gksus pkfg,A os _.k tks 25 yk[k ;k blls de
jkf’k ds gksrs gSA blds fy, ih-,l-,y dh fyfeV 75 izfr’kr gksuh pkfg,A ;s cSad d`f"k] lq{e m|ksx] y?kq m|ksx] cM+s m|ksx
lHkh dks _.k ns ldrs gSA
o ,-;w- LekWy cSad bldk mnkgj.k gS] mTthou LekWy cSad
eqnzk cSad %& Micro Units Development and Refinance Agency

• 2015 bZ- esa iz/kkuea=h eqnzk ;kstuk dh ?kks"k.kk dh xbZ Fkh A mlds rgr gh eqnzk cSad dh LFkkiuk dh xbZ FkhA ;g flMch dh
lgk;d laLFkk gSA ;g fjQkbusl a laLFkk gSA ;g cSadks vkSj vU; QkabZul
sa laLFkkvksa ds ek/;e ls lq{e bdkbZ;ksa ds fy, _.k miyC/k
djokrs gSA
• ;g fuEu ds fy, _.k miyC/k djokrh gSA
o ekbØks ;qfuV ¼lw{e bZdkbZ;ks½a
o NksVs O;kikjh
o jsgM+h okys
o ;g d`f"k {ks= esa _.k ugha nsrs gSA
o ;g rhu izdkj ds _.k miyC/k djokrs gS
▪ f’k’kq & 50 gtkj rd ds
▪ fd’kksj & 50 gtkj ls 5 yk[k rd
▪ r:.k & 5 yk[k ls 10 yk[k rd
yksdy ,fj;k cSad

• 1996 bZ- esa LFkkfir fd;s x;s FksA ujflEgu lfefr dh flQkfj’k ls ;g cSad LFkkfir fd;s x;s FksA ;g futh {ks= ds cSad gksrs
gSA vkjchvkbZ budk fofu;eu djrk gSA ;g vuwlqfpr cSad Hkh cu ldrs gSA vf/kdre 3 ftyksa rd ;g foLr`r gks ldrs gSA
• orZeku esa dsoy 4 yksdy ,fj;k cSad gSA
Development Finance Institution –
• ;g fdlh m)s’; fo’ks”k ds fy, LFkkifr fd;s tkrs gSA ;g vius xzkgdksa dks fuEu lqfo/kk,a miyC/k djokrs gSA
o foÙkh; lgk;rk nsrs gSA
o xkjaVj dh Hkwfedk fuHkkrs gS & nwljksa ls _.k fnykrs gSA
o rduhd o izca/ku rFkk foi.ku dkS’ky esa lgk;rk djrs gSA
o vfHkxksiu dh lqfo/kk nsrs gSA
o ;s O;kikfjd esys o lsehukj dk vk;kstu djrs gSA
o iquZfoÙk esa lgk;rk miyC/k djokrk gSA
Industrial Finance Corporation of India

• 1948 esa LFkkfir
• ;g ns’k dk igyk Mh-,Q-vkbZ gS
• ljdkj ds LokfeRo esa LFkkfir

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
IFCI (INDUSTRIAL FINANCE CORPORATION OF INDIA)-

• 1955 bZ- esa nwljk Mh-,Q-vkbZ LFkkfir&vkbZ-lh-vkbZ-lh-vkbZA
• 2002 bZ- esa ;s vkbZ-lh-vkbZ-lh-vkbZ cSad cu x;k FkkA
• 1964 bZ- esa & vkbZ-Mh-ch-vkbZ
o igys bldk LokfeRo vkjchvkbZ ds ikl Fkk
o 1976 bZ- esa bls ljdkj us vius LokfeRo esa ys fy;k Fkk
o 2004 bZ- esa ;g cSad cu x;k A
o 2018 bZ- esa ,y-vkbZ-lh us Hkkjr ljdkj ls blds 'ks;j [kjhns
All India Refinance Agency
EXIM BANK NABARD NHB SIDBI
• 1982 esa LFkkifr • 1982 esa LFkkfir • 1988 esa LFkkiuk • LFkkiuk& 1990bZ-
• f'kojeu lfefr dh • eq[;ky; & fnYYkh • eq[;ky; & y[kuÅ
flQkkfj’k ls
• LokfeRo & Hkkjr • ljdkj o vkjchvkbZ • 100 izfr’kr • LFkkiuk ds le;
ljdkj ds ikl • 2010 esa bldks Hkkjr vkjchvkbZ ds LokfeRo bldk 100 izfr’kr
okyh laLFkk LokfeRo vkbZMhchvkbZ
ljdkj us [kjhnk
ds ikl Fkk A
• 2018 esa bldk iw.kZ • ysfdu 2019 esa Hkkjr
• orZeku esa bldk
LokfeRo Hkkjr ljdkj us bls [kjhn LokfeRo Hkkjr
ljdkj us ys fy;k fy;k A ljdkj ] ,lchvkbZ ]
• ,yvkbZlh rFkk vkSj
Hkh dbZ laLFkkvksa ds
ikl blds 'ks;j gS
• 1915 esa vkj-vkbZ-Mh- • ;g gkmflax {ks= ds • y?kw m|ksxks ds
,Q dh LFkkiuk fodkl ds fy, fodkl ds fy,
iquZfoÙk dh lqfo/kk iquZfoÙk dh lqfo/kk
miyC/k djokrh gSA miyC/k djokuk A
• RESIDEX bUMsDl • orZeku esa eqnzk cSad
tkjh djuk • LVsM
a vi bafM;k
• fu;a=d dk dk;Z • LekWy bUVjizkbtst
ds fodkl ds fy,
foÙk
• CRISIDEX bUMsDl
tkjh djrk gS

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
,uch,Qlh %& ukWu cSafdax QkWbZusal dEiuh

• os foÙkh; laLFkk, ftuds ikl cSad dk ykbZllsa ugha gS ysfdu QkbZulsa dk dk;Z djrh gS A tSls & bU';ksja s’k dEiuh] is’a ku
QaM] E;wpy QaM] ,e-,Q-vkbZ] foÙkh; laLFkku] ctkt QkbZul sa ,uch,Qlh dh LFkkiuk dEiuh ,DV ds rgr dh tkrh gSA
budh la[;k Hkkjr esa orZeku esa 10 gtkj ls vf/kd gS A budh LFkkiuk ds fy, vko’;d iwt a h vyx&vyx gksrh gSA 2
djksM+ ] 5 djksM+ bR;kfn-
• budh fofu;ked laLFkk,a Hkh vyx & vyx gksrh gS A
• tSls & vkbZvkjMh, ] ih,QvkjMh,],lbZchvkbZ
• dsoy 108 laLFkk, turk ls tek,a ys ldrh gS vU; ,uch,Qlh oks turk dh tek,a Lohdkj ugha dj ldrh gSA ;s dsoy
vof/k tek,a Lohdkj djrh gSA ;g pSdcqd tkjh ugha dj ldrs gSA fdlh Hkh rjg dk dkMZ miyC/k ugha dj ldrh gSA
budh tek,a MhvkbZlhthlh ls lajf{kr Hkh ugha gksrh gSA bUgsa lhvkjvkj dks cuk;s ugha j[kuk gksrk gSA bu ij ,l-,y-vkj
ds fu;e ykxw gksrs gSA cSly ekud bu ij Hkh ykxw gksrs gS A
Banking Ombudsman – cSfdax yksdiky
• 1999 bZ- esa 15 yksdiky fu;qDr fd;s x;s A

• orZeku esa 22 yksdiky gS
o cSad xzkgdks dh f’kdk;rksa dks fuiVkjk djuk budk eq[; dk;Z gS A
o cSafdx yksdiky fuEu cSadks ds f’kdk;rksa lquokbZ djrk gS A
▪ vuqlwfpr cSad
▪ fjtuy :jy cSad
▪ vcZu dkWijsfV~o cSad¼tks vuqlwfpr gS ½
▪ ,uch,Qlh¼dsoy QkbZul sa ls lcaf/kr½
o fuEu izdkj dh f’kdk;rsa Lohdkj djrh gS &
▪ ;fn le; ij cSad Hkqxrku ugha djrk gS-
▪ pSd ;k Mh-Mh le; ij fDy;j ugha gksrs gS-
▪ ;fn flDds Lohdkj djus ls euk dj nsa-
▪ lHkh nLrkost gksus ds ckotwn [kkrk [kksyus ls euk dj ns ;k [kkrk cUn djokus dk euk dj ns -
o fuEu izdkj dh f’kdk;rsa yksdiky ds ikl ugha dh tk ldrh gS A
▪ lh/ks dksbZ f’kdk;r yksdiky ds ikl ugha dh tk ldrh gS-
▪ igys czkap eSustj dks f’kdk;r djuh gksrh gS vkSj ,d eghusa esa f’kdk;r dk fuiVkjk ugha gksrk gS rks cSafdax yksdiky ds
ikl f’kdk;r dh tk ldrh gSA
▪ ,d lky ls igys dh f’kdk;r ugha dh tk ldrh gSA
▪ 20 yk[k ls vf/kd dk ekeyk gS rks cSafdax yksdiky ds ikl f’kdk;r ugha dh tk ldrh gS-
▪ ;fn ekeyk igys ls Mh-vkj-Vh @ ,u-lh-,y-Vh @ miHkksDrk U;k;ky; ds ikl gks rks lquokbZ ugha dh tk ldrh gSA
▪ lkekU; izdkj dh lquokbZ ugha dh tk ldrh gSA
o cSafdax yksdiky ds QSlys ds fo:) vkjchvkbZ ds mixoZuj ds le{k vihy dh tk ldrh gSA
o cSafdax yksdiky cSad ij ,d yk[k :i;s rd dk tqekZuk yxk ldrk gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
Mh-vkbZ-lh-th-lh & Deposit Insurance and Credit Guarantee Agency

• LFkkiuk & 1978 bZ- esa gqbZ FkhA
• LokfeRo & vkjchvkbZ ds ikl gSA
• QkbZufsa l;y fjtksY;w’ku fMiksftV ba’;ksjl
sa fcy 2017 laln esa is’k fd;k x;k vkSj bl fcy esa Mh-vkbZ-lh-th-lh ds LFkku ij
fjtksY;w’ku dkWjiksjs’ku dh LFkkiuk djus dk izko/kku FkkA Ysfdu bl fcy dh vkykspuk ds dkj.k ;g LFkkfir ugha fd;k tk
ldkA OkrZeku esa Mh-vkbZ-lh-th-lh gh dk;Zjr gS ijarq bldks vkSj vf/kd l’kDr o izHkkoh djus dh vko’;drk gS
Finacial Stability and Development Conncil–
• bldh LFkkiuk 2010 esa dh xbZ

• blds v/;{k & dsUnzh; foÙk ea=h gksrs gS
• blds lnL; & vkjchvkbZ xouZj gksrs gS
• vkbZvkjMh, dks pS;jesu ] ih,QvkjMh, ] ,lbchvkbZ ] vkbZchchvkbZ ds pS;jesu
• eq[; vkfFkZd lykgdkj Hkh blds lnL; gksrs gS
• foÙk ea=ky; ds lfpo Hkh blds lnL; gksrs gS
• bldk m)s’; &
o foÙkh; fLFkjrk
o foÙkh; lekos’ku
o foÙkh; fodkl
o foÙkh; lk{kjrk
cSadks ds foy; ds ykHk&

• cSadks ds foy; ls cM+s cSad vfLrRo esa vkrs gSA budk foÙkh; vk/kkj O;kid gksrk gS ftlls ;s etcwr cSad ds rkSj ij mHkjrs gSA
• orZeku esa oS’ohdj.k dk nkSj gS rks cM+s cSad vUrjkZ"Vªh; Lrj ij izfrLi/kkZ dj ldrs gSA orZeku esa fo’o ds 50 lcls cM+s cSadks
esa Hkkjr dk ,d Hkh cSad 'kkfey ugha gS tcfd 100 cM+s cSadks esa ,dek= ,lchvkbZ cSad 'kkfey gSA ;fn foÙkh; vk/kkj vf/kd
O;kid gks rks og cM+h ifj;kstukvksa dks _.k ns ldrs gS ¼vk/kkj Hkwr <+kaps ls lacaf/kr ifj;kstuk,a½ blls ns’k dh th-Mh-ih nj esa
o`f) gksxhA cSadks dk fofu;eu vklku gksxkA
• cM+s cSad gksus ds ckn fnokfy;k gksus dks [krjk de gks tkrk gS A D;ksfa d mldh tksf[ke mBkus dh {kerk vf/kd gksrh gSA foy;
ds ckn vU; {ks=ksa esa cSad dh 'kk[kk,a [kksyh tk ldrh gS A ¼,d gh txg ij ;fn nksuksa cSadks dh 'kk[kk,a gS rks ,d czkap dks
LFkkarfjr fd;k tk ldrk gS½ ifjpkyu O;; esa deh vk;sxhA foKkiu O;; esa deh vk;sxh foy; ls igys lHkh cSadks dks vyx
& vyx foKkiu djuk iM+rk FkkA ,u-ih-, esa deh vk;sxhA ljdkj ij foÙk iks"k.k dk Hkkj de jgsxkA cSly ekudks dks ikyu
djuk vklku gks tk;sxkA foy; ls dk;Zdq’kyrk esa lq/kkj gksrk gSA
CkSadks ds foy; dh gkfu;ka &

• cktkj esa izfrLi/kkZ de gks tkrh gS cM+s cSadks dk ,dkf/kdkj gks ldrk gSA ;fn detksj cSad dk foy; etcwr esa fd;k tkrk gS
rks cM+s cSad ij Hkh udkjkRed izHkko iM+rk gSA cM+s cSad ds foQy gksus ij vkfFkZd ladV gksus dh laHkkouk jgrh gSA deZpkfj;ksa
dh NVuh ls inksUufr dh leL;k jgrh gSA
• {ks=h; igpku ds dkj.k ykxksa dk tqM+ko gksrk gS oks de gks tkrk gSA
• foy; esa le; vkSj lalk/kuksa dk viO;; gksrk gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
fu"d"kZ & ns’k dh cSafdx iz.kkyh dks vius vk/kkjHkwr <kaps esa ifjorZu djuk pkfg, vkS j Lo;a dks vk/kqfud ;qx dh cnyrh vko’;drkvksa
ds lkFk cnyus dk iz;kl djuk pkfg,A
Non-Performing Assets (NPA)–

• ;fn fdlh _.k dk C;kt o ewy/ku 90 fnu rd ugha pqdk;k tkrk gS rks mls ,u-ih-, ?kksf"kr dj fn;k tkrk gS vFkkZr fdlh
_.k dh fdLr 3 ekg cdk;k jgrh gS
• ,u-ih-, rhu izdkj dk gksrk gS
o Substandared NPA – dksbZ Hkh _.k ,u-ih-, ?kksf"kr gksus ds ckn 12 ekg rd ?kfV;k ,u-ih-, dgykrk gS-
o Doubtfull NPA – Substandared NPA ?kksf"kr gksus ds 12 eghus ckn og ,uih, Doubtfull NPA dgykrk gSA
o Loss NPA - ;fn fdlh _.k dh olwyh dh laHkkouka, yxHkx lekIr gks tkrh gS ysfdu vHkh Hkh cSyal s 'khV esa budk
mYys[k fd;k tkrk gS mls Loss NPA dgrs gS
• d`f"k _.kksa ds fy, Qly PkØ ds vk/kkj ij ,uih, dh ?kks"k.kk dh tkrh gSA
,uih, ds izHkko&
• ;fn cSad dk ,uih, vf/kd gS rks cSad ?kkVs esa jgsxk rFkk varr% cSad foÙkh; :Ik ls vlQy gk ldrk gS
• cSadks ds }kjk u;k lk[k l`tu ugha gksxk vFkkZr~ cSad u, _.k ugha ns ldrkA fuos’k ij izfrdwy izHkko iM+x
s k rFkk mRiknu de
gksxk vkSj csjkstxkjh vf/kd gksxhA;fn cSad vlQy gksrs gS rks vesfjdk dh rjg vkfFkZd eanh vk ldrh gSA
Twin Blance Sheet Problem–

• 2016&2017 ds vkfFkZd losZ esa bldk [kqykl fd;k x;k Fkk ftlds rgr vk/kkjHkwr <kaps okyh daifu;ksa dks _.k fn;s Fks ysfdu
i;kZoj.kh; ekeys o Hkwfe vf/kxzg.k lac/kh leL;kvksa ds dkj.k ;s izkstsDV le; ij iw.kZ ugha gks lds rFkk chp esa vVd x, ftlls
bu dEifu;ksa dh cSaysl 'khV esa ifjlaifr;ksa dh rqyuk esa ns;rk,a vf/kd gks xbZA
• ;g cSadks dks _.k dk Hkqxrku ugha dj ldh blls cSadks dk ,uih, vf/kd gks x;k ftlls cSadks dh csysal 'khV Hkh fcxM+ xbZA
bls gh Twin Blance Sheet leL;k dgrs gSA blesa eq[;r;k lkoZtfud {ks= ds cSad 'kkfey gSA yxHkx 40 izfr’kr daiuh
yksu tksf[ke okys _.k gks pqds gS vFkkZr~ og daifu;k C;kt dk Hkqxrku djus dh fLFkfr esa Hkh ugha gSA iwjs cSafdax {ks= dk ,uih,
yxHkx 9-5 izfr’kr rd gks pqdk gS rFkk dsoy lkoZtfud {ks= ds cSadks dk ,uih, yxHkx 12 izfr’kr rd gks pqdk gSA 1997&98
esa nf{k.k dksfj;k esa cSadks dk ,uih, 8-9 izfr’kr rd igqapk Fkk ftlls ogka vkfFkZd ladV mRiUu gks x;k FkkA
,uih, c<+us ds dkj.k&

• Lku~ 2000 ds igys n’kd esa vFkZO;oLFkk esa rsth Fkh vr% cSadks ds chp izfrLi/kkZ vf/kd gks xbZ Fkh A rks blfy, cSadks us ljy
'krksZ ij _.k miyC/k djok;s ysfdu 2008&09 dh vesfjdu vkfFkZd eanh us vFkZO;LFkk dh rsth dks jksd fn;k] cktkj esa ekax
de gks xbZ ] fu;kZr de gks x;s blls gekjs fu;kZr Hkh de gks x;s Fks blls dEiuh;ksa ij izfrdqy izHkko iM+kA
• i;kZoj.kh; eqn~nksa ds dkj.k U;kf;d lfØ;rk vf/kd c<+ xbZ gS U;kyky; us vusd ifj;kstukvksa ij jksd yxk j[kh gS A Hkwfe
vf/kxzg.k dh izfd;k vR;f/kd tfVy gS ftlls ifj;kstukvksa esa nsjh gks tkrh gS
• lkoZtfud {ks= ds cSadks esa ljdkj dk gLr{ksi vf/kd gS bu cSadks dks vf/kd Lok;Ùkrk ugha gSA blh dkj.k lkoZtfud {ks= ds
cSadks dk ,uih, vf/kd gS Hkkjr ds dqy ,uih, ds 80 izfr’kr ,uih, lkoZtfud {ks= dh cSadks dk gS cSad _.k nsrs le; vusd
vfu;errk,a gksrh gS tSls & cM+h ifj;kstvksa ds foÙkh;u esa ikjnf’kZrk ugha gksrh gSA xyr nLrkost is’k fd;s tkrs gS] ifjlEifr;ksa
ds fcuk Hkh vfxze Hkqxrku dj fn;k tkrk gSA xkjUVh dh i;kZIr O;oLFkk ugha gksrh gSA
• ljdkj ds }kjk dqN dkWjijsV ?kjkuksa dks dqN fo’ks"k NwV nsrh gSA 'ksy dEiuht dh la[;k vf/kd gksukA dqN yksxksa ds }kjk cSad
esa ?kksVkys fd;s x;s tSls & fot; ekY;k ] uhjo eksnh ] esgqy pkSdlh ] gkykafd Hkkjr esa dqy ,uih, dh leL;k esa budh Hkwfedk
de gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
• cSadks us vius ,uih, dh leh{kk lgh rjhds ls ugha dh rFkk _.k nkrkvksa ds C;kt dks pqdkus ds fy, u;s _.k miyC/k djok;s
x;sA
,uih, dh leL;k dks gy djus ds fy, fd, x;s lek/kku&

• ijEijkxr iz;kl & ns’k esa 29 MhvkjVh 1993 esa LFkkfir fd, x;s gS
o 5 Mhvkj,Vh LFkkfir fd, x;s FksA ;g fo’ks"kK U;k;ky; gksrs gS tks _.k olwyh ds ekeyksa dh gh lquokbZ djrs gSA
• lu~ 2000 esa lhvkbZCkhvkb,y ¼flchy& ØsfMV bUQkse’sZ ku C;wjw ks vkWQ bafM;k fyfeysV½ dh LFkkiuk dh xbZ FkhA
• ,l,vkj,Q,bZ,lvkbZ ¼ljQkblh½ ,DV & 2002 esa ;g ,DV ikfjr fd;k x;k gSA bl ,DV ds vk/kkj ij ,LlsV fjdUlVª’ku
dEiuh & ;g cSadks ds ,uih, [kjhnrh gS rFkk mudk iqufuZek.k djrh gSA rFkk cktkj esa bldk fuLiknu dj nsrh gSA
• lh,vkj dh v;o/kkj.kk LFkkfir fd xbZ &
• vussd
a lsVyesVa Ldhe 'kq: dh xbZ ftlds rgr cSadks dks fMQkYVj ds lkFk lsVyesVa djus ds vf/kdkj ns fn;s x;s gSA
,uih, dh leL;k ds fy, orZeku ds egRoiw.kZ mik;&

bu lek/kkuksa dks 4R uke fn;k x;k gS
1. Recognition
2. Resolntion
3. Recapitalisation
4. Reform
1. Recognition -
• Special Mantion Ac 0 - ;fn 30 fnu rd fd’r dk Hkqxrku ugha fd;k tkrk gksA
• Special Mantion Ac 1 - ;fn 30 ls 60 fnu rd fd’r dk Hkqxrku ugha fd;k tkrk gksA
• Special Mantion Ac 2 - ;fn 30 & 90 fnu rd fd’r dk Hkqxrku ugha fd;k tkrk gksA
• 90 fnu rd ugha gksrk rks ,uih, esa pyk tkrk gSA
• cSadks ds fy, ;g vfuok;Z gS dh oks ,l,e, _.kksa dh lqpuk vkjchvkbZ dks miyC/k djok;s
2. ifjlEifr;ka xq.koÙkk leh{kk & blds rgr ifjlEifr;ksa dh xqorÙkk dk ijh{k.k Lora= laLFkkvksa ds }kjk fd;k tkuk pkfg, A
rFkk vkjchvkbZ ds ekudks ds vuq:Ik gh ifj{k.k fd;k tkuk pkfg,-
3. Promt Corrective Action ( PCA) – 2002 esa bls foey >kyku rkRdkfyd vkjchvkbZ xouZj }kjk 'kq: fd;k x;k blds
ckn 2017 esa mftZr iVsy ds le; bUk izko/kkuksa dks vf/kd dBksj dj fn;k x;k gS A blds rgr cSadks ds ,uih, ij fuxjkuh
j[kh tkrh gS ;fn cSadks ds ,uih, vf/kd gs rks vkjchvkbZ cSad ds fo:) dBksj dk;Zo kgh djrh gS-
cSad dh fLFkfr dk eqY;kdu rhu vk/kkj ij fd;k tkrk gS &
1. cSad dh ifjlEifr;ka vkSj ,uih,
2. iwta h i;kZIrrk ¼csly ekud½
3. ykHk ¼fiNys o"kks½Z
• ;fn fdlh cSad dks ihlh, dh fyLV esa 'kkfey fd;k tkrk gS rks vkjchvkbZ mudks l[r funs’Z k nsrh gS cSadks dh vyx ls
vkWfMV djokbZ tkrh gSA funs'kd ds osru dks jksdk tk ldrk gS] ykHkka’k forj.k dks jksdk tk ldrk gS A cSad dh ubZ
'kk[kkvksa vkSj ubZ fu;qfDrvksa ij Hkh jksd yxk nh tkrh gSA
• _.k xfrfof/k;ksa dks Hkh jksdk tk ldrk gS
• Willful Defaulters dh igpku djuk
4. Legal Entity Indentifier - tks Hkh dEiuh ;k cSad 1 gtkj djksM+ :Ik;s dk Hkwxrku djrh gS mUgsa ;g uEcj ysuk vko’;d
gksrk gS oSf’od Lrj ij ;g uEcj ysuk vko’;d gS A blesa 20 fMthV dk uEcj fn;k tkrk gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
5. Fugitive Economic Offender Act 2018
bl ,DV ds vUrxZr ftl O;fDr us 100 djksM+ ;k mlls vf/kd dk vkfFkZd vijk/k fd;k gS rFkk ns’k NksM+dj Hkkx x;k gSA rks
ml ij vkijkf/kd ekeyk ntZ fd;k tk;sxk rFkk fizo’sa ku vkWQ euh YkkWUMªhax ,DV ds rgr LFkkfir fo’ks"k U;k;ky; }kjk bldh
lquokbZ dh tk;sxhA rFkk mldh laEifr dks tCr dj fy;k tk;sxkA
6. Resolution – blds rgr nks phtsa dh tkrh gSA 1- iqufuZek.k 2- iquoZlqyh
SARFAESI ACT 2002 – 1991 bZ- esa ujflEgu lfefr us MhvkjVh LFkkfir djus dh vuq’kalk dh Fkh blfy, 1993 bZ - esa Mh-vkj-Vh
dh LFkkiuk dj nh xbZ FkhA ysfdu bu Mh-vkj-Vh ds ikl vf/kd 'kfDr;ka ugha FkhA blfy, ujflEgu lfefr f}rh; us _.k olqyh
ds fy, dBksj dkuwu dh vuq’kalk dh FkhA blfy, SARFAESI ACT dks ikfjr fd;k x;kA
“Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest”
• bl dkuqu ds rgr _.knkrkvksa dks fo’ks"k vf/kdkj fn;s x;s gSA _.knkrk 60 fnu dk uksfVl nsdj fxjoh j[kh gqbZ ifjlEifr;ksa
dks tCr dj ldrk gSA
• ;g dEiuh ds cksMZ vkWQ MkW;jsDVjlZ esa cnyko dj ldrs gSA os fxjoh j[kh gqbZ ifjlEifr;ksa dks fuyke dj ldrs gSA
• fxjoh j[kh izkWiVh dks ,vkjlh dks csp ldrs gSA _.k izkIr djrk gS tks lkekU; U;k;ky; esa ls LVs ugha yk ldrk gSA mls Mh-
vkj-Vh ds ikl tkuk gksxkA
• Mh-vkj-Vh ds ckn O;fDr Mh-vk-,-Vh ds ikl tk ldrk gSA vihyh; U;k;kf/kdj.k _.k dh 50 izfr’kr dh jkf’k tek djokus ds
ckn gh mldh vihy dks Lohdkj djsx a kA
• Mh-vkj-Vh ds ckn _.kizkIr drkZ mPp U;k;ky; esa vihy dj ldrk gSA
SARFAESI ACT dh 'kfDr;ka
1- lHkh izdkj dh vuqlqfpr cSad

2- ukWu cSafdax QkbZul
sa dEiuh
3- gkWmflax QkbZulsa dEiuh
4- dkWijsfVo cSad & 2020 bZ- esa lqizhe dksVZ ds fu.kZ; ds ckn
SARFAESI ACT dh deh;ka-
1- LVkQ dh deh
2- ekeyksa dh lquokbZ le; ij ugha gksrh gS
3- 1 yk[k ls vf/kd ekeys yfEcr iM+s gSA
4- tks fxjoh j[kh gqbZ lEifr;ksa dk voeqY;u vf/kd gks tkrk gSA
5- tks ykHknk;d dEiuh ugha gksrh gS rks mldk cktkj esa fuLiknu mfpr eqY; ij ugha gksrk gSA
6- blesa lEifr;ksa ds iqufuZek.k ds izko/kkuksa dh deh gSA
bu deh;ksa dks ns[krs gq, vkbZchlh dk izko/kku fd;k x;kA
Insolvency and Bankruptcy Code – 2016
• ;fn fdlh dEiuh ;k O;fDr ds }kjk _.k dk Hkwxrku le; ij ugha fd;k tkrk gS rFkk _.k ,uih, ?kksf"kr gks tkrk gS A rks
_.k nkrk bl dksM ds rgr dk;Zokgh dj ldrk gS A
• blesa dk;Zokgh dh 'kq:okr
o _.kizkIrdrkZ & O;fDr & MhvkjVh
o _.kizkIrdrkZ & dEiuh & ,ulh,yVh

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
• blesa fuEu esa ls dksbZ Hkh vihy dj ldrk gS &

o _.knkrk
o _.kxzkgh
o dEiuh ds deZpkjh
o dEiuh ds 'ks;j /kkjd
• ns’k esa ,ulh,yVh dh 10 czkap gS
o Mh-vkj-Vh - 39
• ,ulh,yVh & 14 fnu ds Hkhrj vkosnu dks ;k rks Lohdkj djsxk ;k rks vLohdkj djsxk A
o ;fn ,ulh,yVh Lohdkj dj ysrk gS rks 180 fnu dk eksjksfVf;e ihfj;M gksrk gS
o ;fn fo’ks"k fLFkfr rks bl vof/k dks c<+kdj 270 fnu fd;k tk ldrk gS A
• desVh vkWQ ØsfMVlZ ¼lk[k nkrkvksa dh lfefr½ cukbZ tkrh gS
o buds }kjk bUlksyosUlh izkQs’uyl dks fu;qDr fd;k tkrk gSA vkSj bUlksyosUlh izksQs’kuYl lek/kku ;kstuk izLrqr djrh gSA
o ;g izktsDV dks iqjk djus ds fy, fuEu izdkj ds lq>ko nsrs gSA tSls dh C;kt nj dks de djuk
▪ _.k vof/k dks c<+k fn;k tkuk
▪ u, Hkkxhnkjksa dks ryk’kk tk;s
▪ lek/kku ;kstuk desVh vkWQ ØsfMVlZ ds lkeus is’k fd;k tkrk gS ;fn Iyku Lohdkj dj ysrh gS rks mls ykxw fd;k
tkrk gS vkSj ;fn lfefr bl Iyku dks Lohdkj ugha djrh gS rks ;gh vkbZih dEiuh dh ifjlEifr;ksa dk fuLiknu djrs
gSA
o vkbZih dksM ;s fuEu ij ykxw ugha gksrk gS&
▪ foyQqy fMQkWYVjl ij & tkucw> dj _.k ugha pqdkrk gS
▪ bUdsiscy fMQkWYVlZ & tks _.k pqdkus esa vl{ke gS A
▪ bu ij ljQkbZlh ,DV ds rgr dk;Zokgh dh tkrh gS A
▪ d`f"k _.k ij ljQkbZlh ,DV ykxw ugha gksrk gS A
Insolvency or Banking Board of India (IBBI)
• IBC dksM 2016 ,DV ds rgr bl laLFkk dh LFkkiuk dh xbZ gS &

• ;g ,d oS/kkfud laLFkk gS A
• blesa ,d v/;{k gksrk gS A
• ,d vkjchvkbZ ds }kjk euksfur lnL; gksrk gS A
• vkB lnL; Hkkjr ljdkj ds }kjk euksfur fd, tkrs gS A v/;{k lfgr dqy 10 lnL; gksrs gS A
• blds eq[; dk;Z & bUlksyosUlh izksQs’kuYl ,tsUlh dh LFkkiuk djuk A
IP AGENCY WORK ?
• bUlksyosUlh izksQs’kuYl dk iathdj.k djuk rFkk mudk i;Zos{k.k djukA

• vkSj bUlksyosUlh izksQs’kuYl cuus ds ekud fu/kkZfjr djukA
• orZeku esa rhu vkbZ-ih ,tsUlh gS
• vkbZlh,vkbZ] vkbZlh,lvkbZ]
• blds vfrfjDr bldk nqljk dk;Z bUQkWe’sZ ku ;qfVfyfV dh LFkkiuk djukA
• blesa _.k izkIrdrkZ dk MkVk rS;kj djuk
• vknru fMQkYVjlZ dh igpku djuk ¼fu;fer½

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
Re-Capitalization:
lkoZtfud {ks= ds cSadksa dk NPA T;knk gS] blfy, BASEL ekudksa ds vk/kkj ij lkoZtfud {ks= ds cSadksa dk CAR-
12% fu/kkZfjr fd;k x;k gSA vr% bls iwjk djus ds fy, ljdkj bu cSadksa dks iw¡th iznku djrh gSA
* blds rgr ljdkj us 2017-18 esa 90,000 crore rFkk 2018-19, 1.06 Lac crore, 2019-20 esa 70,000 djksM+ #- 2021-
22 esa 20,000 djksM+ dh ?kks"k.kk dh x;h gSA
Reform ¼lq/kkj½
lq/kkj ds fy, ljdkj us 2015 esa MISSION bUnz/kuq"k vkjEHk fd;k FkkA
foÙkh; lekos'ku%&
lekt ds lHkh yksxksa dks foÙkh; cktkj ls tksM+ukA vFkkZr~ lekt ds xjhc vf'kf{kr o oafpr yksxksa dks foÙkh; lsok;sa
miyC/k djokukA
❖ foÙkh; lekos'ku ds fy;s fuEu ckrksa dk gksuk vko';d gS&
❖ Financial intranstructure ¼foÙkh; cqfu;knh <kapk½ vFkkZr~ lHkh LFkkuksa ij cSadksa dh 'kk[kkvksa dk miyC/k gksukA
❖ yksxksa esa foÙkh; tkx:drkA rkfd os yksx cSad esa [kkrs [kqyok;sA
❖ viuh NksVh cprksa dks tek djok ldsAa
❖ lk[k dh miyC/krk vFkkZr~ xjhcksa o oafprksa dks _.k miyC/k djokukA
❖ mUgsa isa'ku o chek dh lqfo/kk miyC/k djokukA
foÙkh; lekos'ku ds fy, fd;s x;s mik;%

❖ izkFkfed _.k {ks= dk izko/kkuA
❖ 1969 o 1980 esa cSadksa dk jk"Vªh;dj.k djukA
❖ 1969 esa Lead Bank ;kstuk 'kq: dh x;hA
❖ 1975 esa {ks=h; xzkeh.k cSadksa dh LFkkiuk dh x;hA
❖ orZeku esa cSadksa ds fy, vfuok;Z gSa fd u;h cSadksa esa 25% 'kk[kk;sa xk¡oksa esa gksuh pkfg,A
Banking laoknnkrk@izfrfuf/k dh vuqefr nh x;h gSaA
➢ Micro ATM dh LFkkiuk dh x;hA
➢ White leble ATM ,slh ATM e'khu ftl ij fdlh bank dk uke ugha gksxkA lHkh cSadksa ds xzkgd mlls iSls
fudky ldrs gSaA
Brown Lable ATM:- ATM e'khu dks esV a su djus dk dke fdlh vU; dEiuh ds ikl gksxkA
Pink lable ATM: dsoy efgykvksa ds fy;sA
Green ATM: fdlkuksa ds fy,
➢ Post office dks cSafdax xfrfof/k ds fy, vuqefr nh x;haA
➢ fdlku ØsfMV dkMZ%&
➢ fdlku xksYM dkMZ%&
➢ d`f"k Qly chek ;kstuk%&
General Credit Card:-

fdlkuksa dks provide djok;k tkrk gSA ;g Mk;jhuqek gksrk gSaA blds vk/kkj ij fdlku d`f"k vkxrksa dks othherised
,tsUlh ls [kjhn dj lddrk gSaA
➢ iz/kkuea=h tu&/ku ;kstuk&2015
➢ iz/kkuea=h eqnzk ;kstuk&2015& Mudra Bank

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ Payment Bank/Small bank dh LFkkiukA

➢ Micro finance institution dks izksRlkgu nsukA
➢ NBFC-MFI dks PSC esa 'kkfey djukA
➢ NABARD dh LFkkiukA
➢ Co-operative Banks dh LFkkiukA
foÙkh; lekos'ku ds ykHk%&

❖ lHkh yksxksa ds cSad [kkrs gksx
a sA
❖ :i;s [kkrksa esa tek gksxa sA
❖ turk ds ikl udn j[kus dh izof` Ùk de gksxhA
❖ cSadksa ds ikl /ku miyC/krk c<+rh gSaA blls cSad lk[k l`tu dj ldrs gSaA vFkkZr~ _.k ns ldrh gSaA
❖ blls fuos'k dks izksRlkgu feyrk gSA fuos'k c<+s+xk rks mRiknu o jkstxkj ds volj c<+x s saA
❖ ;fn yksxksa esa cSafdax Awarness gS rks Cash lesss economy dks izksRlkfgr fd;k tk ldrk gSaA vFkkZr~ IykfLVd
euh ;k vkWuykbu Hkqxrku dks vf/kd c<+k+ ukA ;fn Cash-less dkks izksRlkgu feyrk gS] rks Tax oa'kuk dks de
fd;k tk ldrk gSaA
❖ udyh uksVksa dh leL;k de gks tk;sx a hA
❖ cSadksa dks CRR de j[kuk gksxkA The can lend more the loan
❖ vke vkneh cSafdax lsokvksa dk ykHk feysxkA blls mlds thou Lrj esa lq/kkj gksxkA
❖ ljdkj Mk;jsDV csfufQj@lfClMh o vU; Hkqxrku lh/ks muds [kkrksa esa dj ldrh gSaA
❖ tSls%& Subsidy, ujsxk] o`)koLFkk] is'a ku etc.
❖ yksxkas dks fuos'k ds csgrj fodYi feysx a sA rks LikWUth@QthZ ;kstukvksa ds eky esa ugha Qlsx a sA
❖ Ex.- fpVQ.M
❖ ns'k esa Finnancial market dk fodkl gksxkA rFkk ftu ns'kksa esa foÙkh; lekos'ku vPNk gS mu ns'kksa esa o`f) nj
Hkh vf/kd gSaA
National payment corporation of India:(NPCl)
RBI and Indian Bank Association us feydj LFkkfir fd;kA
❖ 2008 esa cuk FkkA 2009 esa dk;Z djuk izkjEHk fd;kA
IMPS-Immediate Payment Service Start-2010 AD
❖ Mobile Banking blh ij vk/kkfjr gSA
❖ 1-2 Lac rd dk Payment
❖ NEFT= National electronic Fund Transfer = 1 # vf/kd
❖ RTGS : Real time Gross sattlement = 2 yk[k ls vf/kd
UPI:
❖ 1 #i;s ls 1 yk[k rd dk Payment
❖ Online Hkqxrku
❖ NEFT o RTGS = RBI lqfo/kk izksokbM
❖ UPI o IMPS = NPCl lqfo/kk izksokbMA
❖ ;g pkjksa rjQ dh fund transfer lqfo/kk 24 × 7 hour miyC/k gSaA
❖ mn~ns';& Online payment dks lqfo/kktud cukukA
CTC – Cheque trancation system

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
❖ NPCL lqfo/kk izksokbM

❖ First time-2008
BHIM APP
❖ Bharat interface for money ¼Hkkjr baVjQsl QkWj ea=h½ 'kq:& 2016 A.D.
Rupay-2012 AD
❖ Indian Card scheme dk Hkkx gSA
UPI-unified payment interface ¼;wfuQkbM iseV sa baVjQsl½
❖ nks [kkrksa ds chp rqjUr QaM VªkalQj djukA
❖ vf/kdre 1 yk[k :I;s VªkalQj gksrs gSaA
❖ Real time transfer
NPCI us nks lfClMh dEiuh LFkkfir dh gSaA
1. NPCI-Interation Payment limited
➢ Rupay card, vUrjkZ"Vªh;
➢ UPI
2. NPCI- BHARAT Bill Pay limited (NBBL) (2021 eas iathdj.k)
foÙk cktkj
eqnzk cktkj%& iwt

a h cktkj
➢ vYidkfyd ysu&nsuA ¼1 o"kZ rd½ nh?kZdkfyd ysu&nsu gksrs gSaA

mnk- euh ekdsVZ ds midj.k Ex:- Share, Debenturre, G-sec, etc.
1. Commercial paper (C.P.)
➢ fdlh dEiuh ds }kjk tkjh fd x;h vYidkfyd izfrHkwfrA izk;% u;h dEiuh ds }kjk vius vkjfEHkd [kpksaZ dks
iwjk djus ds fy, tkjh dh tkrh gSaA bls Bridge loan dgrs gSaA
2. Certificate on Deposit (C.D.):- cSad dkWiksjZ V
s ls tekkvksa ds cnys iSls ysus ds fy;s CD tkjh djrk gSaA
3. Call money market: cSadksa ds ek/; vYidkfyd ysu&nsuA
4. Tresuury Bill: dsUnz ljdkj ds }kjk tkjh fd x;h vYidkfyd izfrHkwfr;ka ftUgs& a T-Bill dgrs gSaA ;s rhu iizdkj
ds gksrs gSaA
5. Commerccial Bill:- fdlh dEiuh ds }kjk oLrqvksa fd [kjhn ds cnys tkjh fd tkus okyh vYidkfyd izfrHkwfr;kaA
➢ CP, CD, T-Bill o C-Bill Transfferable gLrkUrj.kh; gksrs gSaA
(IBPC) : Inter bannk Partipatory certificate:-

➢ ;s eqnzk cktkj dk ,d vfrfjDr midj.k gSaA ftlds rgr cSadksa ds chp vYidkfyd ysu&nsu gksrk gSA ;fn fdlh cSad
dks /ku dh vko';drk gSa] rks og vius _.k ifjlaifÙk dkks cspdj vU; cSad ls /ku izkIr dj ldrh gSaA rFkk 3 ;k 4
ekg ckn vius _.k ifjlaifÙk dks okil [kjhn ldrh gSaA
➢ bldks izkFkfed {ks= ds _.k ds y{; dks izkIr djus ds fy;s Hkh budk iz;ksx fd;k tk ldrk gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
iwath cktkj (Capital Market)

➢ lhfer dEiuh%&og dEiuh ftuesa 'ks;j /kkjd dh ns;rk lhfer gksrh gSaA vFkkZr~ _.k nkrk ds vf/kdkj lhfer gksrs
gSaA _.knkrk dsoy dEiuh ds uke ls lEifÙk gS mlh ls _.k olwy ldrk gSA
➢ 'ks;j&/kkjdksa dh O;fDrxr laifÙk ls _.k olwyh ugha dh tk ldrh gSaA ,slh dEiuh dks fyfeVsM dEiuh dgrs gSaA
➢ lhfer dEiuh rhu izdkj fd gksrh gSa&
1. One-person company (OPC):- og dEiuh ftlesa dsoy ,d vkWuj@Lokeh gksrk gSA
➢ dEiuh ,DV 2013 ls bl dEiuh dks ekU;rk nh x;hA
2. Private limited company: og dEiuh ftlesa 'ks;j/kkjdksa dh U;wuÙke la[;k 2 o vf/kd la[;k 200 gks ldrh gSA
3. Public limited company:- 'ks;j /kkjdksa fd fefuee la[;k 7 rFkk vf/kdre dksbZ fu/kkZfjr ugha gSaA
➢ blds 'ks;j&'ks;j cktkj esa [kjhns csps tk ldrs gSaA
Stock Access
1. Authorised Capital:- ftrus ds 'ks;j tkjh djus dh vuqefr nh tkrh gSaS ¼vuqefr& 1000 crore½
2. Issued Capital:- dEiuh ds }kjk tkjh fd;s x;s 'ks;jA (800 crore)
3. Subscribed Capital:- ftrus ds fy, turk vkosnu djrh gSaA
4. Paid-up-Capital:- vkosndksa ds 'ks;j [kjhnus ds ckn dEiuh dh iwt
a h
*Security*
Debt Security Share

(Bond)
Preference Equity share
share
Govt. Bond Private Bond
Short term Long term Short term Long term
 G-Sec CD
T-Bill  CD Debenture
Gilt edge CD _.ki=
➢ Share: blesa fuos'kd dEiuh esa Hkkxhnkj curk gSaA rFkk dEiuh esa gksus okys ykHk mls fn;k tkrk gsAa
➢ 'ks;j nks izdkj ds gksrs gSaA
(1) Prefrence 'ks;j (2) Equity 'ks;j
1. Prefrence share: blesa 'ks;j/kkjd dks ykHk forj.k esa izkFkfedrk nh tkrh gSaA ;fn dEiuh dks de ykHk gksrkk gS
rks Hkh bUgsa ykHk gksrk gSaA bu 'ks;j dh la[;k de gksrh gSaA rFkk ;g izeksVj ds ikl gksrh gSaA
➢ ysfdu bUgsa ernku dk laLFkkid ¼izorZd½ vf/kdkj ugha gksrk gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
2. Equity share: bu 'ks;j/kkjdksa dks ykHk forj.k esa izkFkfedrk ugha nh tkrh gSaA ;fn dEiuh dks vf/kd ykHk gksrkk
gS rks gh bUgsa ykHkka'k fn;k tkrk gSaA
➢ buds ikl erkf/kdkj gksrk gSaA blfy, ;s dEiuh ds okLrfod ekfyd (Owner) gksrs gSaA
➢ Debt Security (Bond):- blesa fuos'kd _.k nkrk gksrk gSaA rFkk vius fuos'k ij fuf'pr C;kt izkIr djrk gSaA
➢ blesa dEiuh Hkys gh ?kkVs esa gks rks Hkh C;kt dk Hkqxrku djsaxhA
1. Tresury Bill:- vYidkfyd ljdkjh izfrHkwfr;ksa dks T-Bill dgrs gSaA

➢ ;g rhu izdkj ds gksrs gSaA
T91 T182 T364

➢ ;g dsoy dsUnz ljdkj ds }kjk tkjh fd;s tkrs gSaA
(2) Giltedge:- fo'oluh; izfrHkwfr;ksa dks fxYV,M~t dgrs gSaA blfy, mUgsa fxYV ,M~t dgrs gSaA
➢ ljdkj dh nh?kZdkfyd izfrHkwfr;ksa dks fxYV,M~t dgrs gSaA
(3) Junk Bond:-os izfrHkwfr;k¡ tkks de fo'oluh; gksrh gSaA tksf[ke ;qDr gksrh gSA ;|fi bu ij feyus okyk C;kt
vf/kd gksrk gSaA
➢ Operation Twist: nh?kZdkfyd _.kksa ij C;kt njksa dk de djus ds fy, RBI us vkWijs'kku izfrHkwfr;ksa dh
[kjhn dh gSaA rFkk blds LFkku ij vYidkfyd izfrHkwfr;ka tkjh fd x;h gSaA
➢ blls cktkj esa ljdkjh izfrHkwfr;ksa dh ekax vf/kd gks x;h] rrks bldh izkbt ¼dher½ vf/kd gks tk;sxhA rks
C;kt@izfrQy@ (yield) de gks tk;sxkA
Operation Twist
➢ futh {ks= dh vYidkfyd izfrHkwfr;k¡%&
(1) Certificat of Deposit
(2) Commercial paper
(3) Commercial Bill
HUNDI:-
➢ ;g e/;dky o fczfV'k dky esa izpfyr izfrHkwfr FkhaA vHkh dkuwuh ugha gSaA
Debenture ¼_.ki=½
❖ futh {ks= dh nh?kZdkfyd _.k izfrHkwfrA ;g fo'ks"k izdkj dk nh?kZdkfyd ckWUM gksrk gSA
❖ bldh C;kt nj] ifjiDork vof/k vkfn fQDl fuf'pr gksrk gSA
Convertible Debenture:-
❖ ;g ,d fo'ks"k izdkj dk _.ki= gSa] ftlesa fuos'kd dks ;g fodYi fn;k tkrk gSa fd ,d fuf'pr le; ds ckn
og vius _.ki= dks 'ks;j esa cny ldrk gSaA
❖ /kh:HkkbZ vackuh us bls yksdfiz; cuk;k FkkA
I.P.O. (Initiial public offer)
❖ tc dksbZ u;h dEiuh igyh ckj 'ks;j tkjh djrh gSa] rks mls IPO dgrs gSAa
F.P.O. (Follow on public offer)
❖ IPO tkjh djus ds dqN le; ckn dEiuh tks u;s 'ks;j tkjh djrh gSa mls FPO dgrs gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
Right Issue:
❖ dksbZ Public limited dEiuh ¼iqjkuh dEiuh tc ,fM'kuy u;s 'ks;j tkjh djrs gSa rks bUgsa Right issue dgrs
gSA½
❖ ;g igys okys 'ks;j /kkjdksa dks gh 'ks;j tkjh fd;s tkrs gSaA
Underwriting ¼vfHkxksiu½%&
❖ tc Hkh dksbZ dEiuh IPO tkjh djrh gSa] rks og vU; fdlh foÙkh; laLFkku ls vius IPO dk vfHkxksiu djokrh
gSaA ftlds rgr og foÙkh; laLFkku fuos'kdksa dks ;g vk'oklu nsrh gSa fd dEiuh dh ifj;kstuk vPNh gS rFkk
mlds lHkh 'ks;j fcdsx a s vkSj ;fn lHkh 'ks;j ugha fcdrs gSa] rks og laLFkk Lo;a oks 'ks;j [kjhnsx
a hA
Book buiding:-
❖ tc dksbZ dEiuh IPO tkjh djrh gS] rks ml IPO dh dher fu/kkZfjr djus ds fy, cktkj esa losZ djok;k tkrk
gSa] ftls Book building dgrs gSaA
❖ ftlds rgr IPO dh dher Price band miyC/k djok;h tkrh gSA

¼vf/kdÙke@U;wuÙke½
❖ vfHkxksiu ;g dk;Z djok;sxkA
izkFkfed 'ks;j cktkj (Primary Stock Exchange):-

❖ og 'ks;j cktkj ftlesa IPO, FPO, Right Issue rFkk u;s Debenture [kjhns&csps tkrs gSaA mls izkFkfed 'ks;j
cktkj dgrs gSaA vFkkZr~ og 'ks;j cktkj ftlesa u;ha izfrHkwfr;k¡ tkjh fd tkrh gSaA
❖ bldk dksbZ fuf'pr uke o LFkku ugha gksrkA
Secondary stock exchange:--
❖ og 'ks;j cktkj tgka izkFkfed 'ks;j cktkj esa tkjh fd x;ha izfrHkwfr;ksa dks iqu% [kjhnk&cspk tkkrk gSaA
❖ Hkkjr esa f}rh;d 'ks;j cktkj vusd gSaA ftlesa izeq[k 'ks;j cktkj nks gSaA
(1) Bombay stock Exchange (BSE)
(2)….
Bombay Stock Exchange (BSE)

❖ LFkkiuk%& 1875 bZ-
❖ ,f'k;k dk lcls iqjkuk LvkWd ,Dlst a gSaA
❖ Hkkjr dk nwljk dk lcls cM+k LVkWd ,Dlst a ¼VuZ vksoj dh n`f"V ¼dkjksckj½ gSaA
❖ M-Cap dh n`f"V ls Hkkjr dk nwljk lcls cM+k LVkWd ,Dlst a gSaA
❖ lkSnksa dh la[;k fd n`f"V ls lcls cM+k+ LVkWd ,Dlst
a gSaA
❖ O;fDrxr fuos'kd izk;% BSE esa fuos'k vf/kd djrs gSaA
❖ M-Cap dh n`f"V ls nqfu;ka dk 9ok¡ LVkWd ,Dlst a gSaA
❖ 2005 esa bls dEiuh cuk;k x;kA
❖ bldk izeq[k lwpdkad BSE SENSEX gSaA
SENSEX-SENSITIVE INDEX
❖ lokZf/kd m-cap okyh 30 dEifu;ksa ds 'ks;jksa fd dher esa vkus okys vkSlr mrkj&p<+ko dks n'kkZrh gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
M-Cap (Market-Capitalisation)
M-Cap = NXP
N = Total number of shares
P = Market Price of per share
SENSEX dh 'kq:vkr& 1986
vk/kkj o"kZ& 1978-79
❖ Hkkjr esa lcls vf/kd m—Cap- (1) Relaice Indus (2) Tata conslteney (3) HDFC (4) Infosis
❖ nqfu;k esa lokZf/kd m-Cap- (1) Apple (2) Micro soft (3) Saudi Aram co. (4)
Blue Chip Company:
oks dEifu;ka ftudk M-cap vf/kd gksrk gSaA rFkk Share bazar esa ftuds 'ks;j dh ekax vf/kd gksrh gSaA vFkkZr~
izfrf"Br dEifu;ksa dks Bluechip dEifu;ka dgrs gSAa
BSE Other lwpdkad (1) BSE 100 (2) BSE 200 (3)
❖ SENSEX dks Dollex Hkh dgrs gSaA
❖ tc 30 dEifu;ksa ds 'ks;j dh Price tc dollar esa x.kuk dh tkrh gS rks bls Dollex dgrs gSa
❖ Sensex: 12 cSadksa ds vkSlr 'ks;j dh fLFkfr dks n'kkZrk gSaA
National Stock Exchange:

❖ LFkkiuk%&1922 bZ-
❖ eq[;ky;% eqEcbZ
❖ dkjksckj dh n`f"V ls Hkkjr dk lcls cM+k LVkWd ,Dlst
a gSaA
❖ ;g LFkkiuk ds le; ls gh iw.kZr% dEI;qVjkbt gSa
❖ ;g laLFkkxr fuos'kdksa esa vf/kd yksdfiz; gSaA
❖ blesa 50 dEifu;ksa ds 'ks;j fy, tkrs gSA
❖ nwljk eq[; lwpdkad & NIFTY Next 50
❖ fu¶Vh ds ckn 50 dEifu;ksa ds ckn vxyh 50 lokZf/kd M-Cap dEifu;kaA bldks twfu;j fu¶Vh Hkh dgk tkrk
gSaA
❖ NIFTY 500 : blesa 500 dEifu;ksa ds 'ks;j fy, tkrs gSaA
❖ igys vusd {ks=h; LVkWd ,Dlsta FksA
❖ tSls%&dydÙkk] t;iqj] fnYyh etc. LVkWd ,Dlst a A
❖ ysfdu vkWuykbu VªsfMax dk izpyu c<+u+ s ds ckn ;s {ks=h; LVkWd ,Dlst
a cUn gks jgs gSaA
U;w;kWdZ LVkWd ,Dlst
a %&esa Hkkjr fd fyLVsV ICICI gSaA
❖ nqfu;k dk lcls cM+k+ LVkWd ,Dlst
a gSaA
❖ eq[; lwpdkad – Dow Jones
❖ NSE ds 20% Share U;w;kWdZ LVkWd ,Dlst a ds ikl gSA
❖ NASDAQ:-National Association of secrutiy Dealers Automated Quotation
❖ U;w;kWdZ esa fLFkr gSA
❖ Hkkjr dh igyh fyLVsM dEiuh Intosis gSaA
❖ fuos'kd%& fuos'kd nks izdkj ds gksrs gSaA
¼1½ okLrfod fuos'kd%& os funs'kd tks nh?kZdky ds fy;s 'ks;j cktkj esa fuos'k djrs gSaA ;g ykHkka'k dh izkfIr ds
fy,A

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
¼2½ lV~Vsckt fuos'kd%& os fuos'kd tks vYidkky ds fy;s 'ks;j cktkj esa fuos'k djrs gSaA tks 'ks;j dh dherksa esa vkus
okys mrkj&p<+ko ls ykHk dekus ds fy;s fuos'k djrs gSaA
➢ lV~Vsckt nks rjg ds gksrs gSa&
(A) dqy (Bill) rstfM+;s%a &
➢ os fuos'kd tks 'ks;j cktkj esa rsth ykrs gSAa
(B) eanfM;s (Bear):- os fuos'kd tks cktkj esa mrkj ykrs gSaA
(C) Stag: os funs'kd tks tYnh&tYnh 'ks;jksa dks csprs jgrs gSaA
➢ ;s lkekU;r% IPO esa fuos'k djrs gSaA
Trading ¼dkjksckj½
1. Spot Trading: ;fn 'ks;j fd [kjhn o fcØh dk lkSnk o mldk fØ;kUo;u ,d gh le; ij gksrk gSaA rks bls
Spot trading dgrs gSA
➢ blesa T + 2 dk fu;e dke djrk gSaA vFkkZr~ nks fnu esa le>kSrs dk fØ;kUo;u vko';d gSA
2. Forward Trading:- ;fn le>kSrs dk fØ;kUo;u Hkfo"; esa fd;k tkrk gSaA rks bls QkWjoMZ VªsfMax dgrs gSaA
➢ ;s le>kSrs LVkWd ,Dlst a ds ckgj fd, tkrs gSA
➢ blds fuf'pr ekud ugha gksrs gSaA rFkk bldk fØ;kUo;u fuf'pr le; esa gksrk gSA
3. Future trading ¼ok;nk dkjksckj½%&;fn le>kSrs dk fØ;kUo;u Hkfo"; esa fd;k tkrk gSaA
➢ ;s le>kSrs 'ks;j cktkj ds ek/;e ls fd;s tkrs gSaA
➢ budk ekud vkdkj gksrk gSaA
➢ bu le>kSrksa dk fØ;kUo;u fu/kkZfjr frfFk ls igys Hkh fd;k tkrk gSA
➢ ykHk gkfu dh x.kuk izfrfnu gksrh gSAa
➢ ykHk&gkfu dh x.kuk izfrfnu gksrh gSA
(F2O) future and optional
➢ blesa fuos'kd dks lkSns ds fy;s lkadsfrd euh nsuh gksrh gSaA rFkk fuos'kd ds ikl ;g fodYi gksrk gSaA fd oks lkSns
dks jn~n Hkh dj ldrk gSaA ysfdu tks lkadsfrd iSlk fn;k Fkk oks okil ugha fn;k tkrk gSA
Short Selling:-
• ;fn O;fDr ds ikl 'ks;j ugha gS] ysfdu og 'ks;j cspus dk le>kSrk igys djrk gSa rFkk dkykUrj esa de jsV
ij 'ks;j [kjhndj csp nsrs gSa mls Short selling dgrs gSaA
• 'ks;j [kjhndj mldh vkiwfrZ djrk gSaA
Arbitrage:- ,d 'ks;j cktkj ls 'ks;j [kjhnuk rFkk mls nwljs 'ks;j cktkj esa cspuk] bls Arbitrage dgrs gSaA
➢ vyx&vyx 'ks;j cktkj esa ,d gh 'ks;j fd dher vyx&vyx gks ldrh gSaA dherksa ds bl vUrj ls ykHk
dekus ds fy;s Arbitrage fd;k tkrk gSA
➢ Mutual Fund:- LFkkiuk& 1964 esa UTI (Unit trust of India) dh LFkkiuk dh FkhaA ;g nsèk dk igyk MF FkkA
➢ lkoZtfud {ks= dh bdkbZ FkhA
➢ futh {ks= dks vuqefr ugha nh FkhA
➢ E;qpqvy Q.M lkekU; turk o 'ks;j cktkj ds e/; e/;LFk dk Hkwfedk djrs gSaA ;g turk fd NksVh cprksa dks
laxzfgr djrk gSaA rFkk bls 'ks;j cktkj esa fuos'k djrk gSaA ogka ls ykHk dekrk gSa] rFkk bls fuos'kdksa esa forfjr
djrk gSaA blds cnys esa E;qlqvy Q.M pktZ ysrk gSA
➢ U.S. 64 Scem ykap dh FkhaA blesa ykHk fd xkj.Vh nh FkhaA 'ks;j cktkj esa VTI dk ,dkf/kdkj FkkA
➢ blesa ?kkVk Hkh gks ldrk gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ cprksa dks laxzfgr djus ds fy, MF unit tkjh djrk gSA

➢ E;qlqvy Q.M fo'ks"kKksa ls ijke'kZ djds fuos'k djrk gSaA
➢ 1986 eas SBI E;wlqy fund dh LFkkiuk fd x;haA 1991 bZ- ds vkfFkZd lq/kkjksa ls futh {ks= ds Mutual fund
LFkkfir djus fd vuqefr iznku dhA
➢ 2001 esa UTI Scam mtkxj gqvk FkkA
Venture Capital Fund: Alternative Investment fund:- ;g vYVjusfVo QaM fd Js.kh esa vkrk gSA
➢ ;g izk;% fuos'k tksf[ke okys {ks= esa djrk gSaA
➢ ;g izk;% u;h dEiuh o LVkVZvi ij fuos'k djrs gSaA
➢ ;g izk;% fuos'k tksf[ke okys {ks= esa djrs gSaA
➢ ;g izk;% u;h dEifu;ksa o LVkVZvi esa fuos'k djrs gS rFkk mlesa Hkkxhnkjh gksrs gSaA
➢ ;|fi buds ikl fo'ks"kKksa dh ,d iwjh Vhe gksrh gSaA izR;sd {ks= ds fo'ks"kK gksrs gSaA
➢ dEiuh fd lQyrk ds izfr vk'oLr gksus ds ckn gh fuos'k djrs gSaA
Ex:
Hudge Fund:
➢ ;g O;fDrxr izdkj Q.M gksrs gSaA D;ksfa d fuos'kdksa fd la[;k de gksrh gSaA blesa izk;% cM+s fuos'kd fuos'k djrs
gSAa blesa fuos'k ds fy;s de ls de ,d djksM+ #i;s gksus pkfg,A
➢ fons'kh fuos'kd dks 5 yk[k dollar gksus pkfg,A
➢ ;s vR;f/kd tksf[ke okys {ks= esa fuos'k djrs gSaA
➢ buds dkj.k 'ks;j cktkj esa vR;f/kd mrkj&p<+ko vkrs gSaA
➢ fofu;ked laLFkk,a izk;% bUgsa fu;eksa esa <hy nsrh gSA
➢ tSls%& Mutual fund dks Short selling o Arbitrange dh vuqefr ugha gksrh gSA tcfd Hadge fund dks
vuqefr nsrh gSA
➢ Hadge fund dks tax haven ¼dj LoxZ½ Hkh dgrs gSaA
➢ Tax Haven: os ns'k tgka ij djksa dh njsa de gksrh gSaA ;k djksa esa fofHkUu izdkj fd NqV iznku djrh gSaA mUgsa
Tax-Heven Country Hkh dgrs gSA
➢ ;g 2008&09 dh vkfFkZd eanjh ds le; ppkZ esa vk;s FksA rFkk bu ij jksd yxkus fd ekax mBh FkhaA
➢ D;ksfa d ;g cktkj esa vfLFkjrk dks tUe nsrs gSaA
➢ Angel Investor: fdlh O;fDr fd izfrHkk (Telent) ns[kdj mlds izkstsDV esa fuos'k djuk Angel Investor
dgrs gSaA
➢ og O;fDr ftlds ikl foÙk cktkj ls foÙkh; lgk;rk ysus ds ekudksa dks iwjk ugha djrk gSaA mlesa fuos'k djus
okys O;fDr dkks ,saty bUosLVj dgrs gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
Ex:- Micke markula ¼ekbd edZqyk½ us LVho tkWc fd izfrHkk dks ns[kdj fd;k FkkA
P-Note: Participatory Note:-
➢ fons'kh laLFkkxr fuos'kdksa ds }kjk (FIII) Hkkjrh; 'ks;j cktkj esa [kjhns x;s fdlh 'ks;j ds fo#)@ ds cnys esa
fdlh vU; ns'k esa P-Note tkjh fd;k tk ldrk gSA ;k P-Note 'ks;j ls tqM+k jgrk gSA
➢ fons'kh O;fDr bl uksV dks [kjhn ldrs gSaA
➢ P-Note (transferble) gLrkUrj.kh; gksrk gSA
➢ P-Note ds dkj.k izk;% dkys /ku dk fuos'k gksrk@iz;ksx fd;k tkrk gSA blls vftZr ykHk ls Vsjj QafMx dh
lwpuk,sa Hkkjrh; ehfM;k esa vkus yxhA
➢ bldh otg ls ljdkj dks dj dk uqdlku gksrk gSaA D;ksfa d ljdkj flD;qfjVh xse VSDl o
➢ P-Note ij gekjh SEBI dk fu;a=.k ugha gks ldrkA blfy;s P-Note dh vkykspuk dh tkrh gSaA
➢ SEBI, P-Note ij vusd jsfLVªDlu ¼izfrca/k½ yxk;s tk jgs gSA
Demat : (Dematerialisation)
➢ igys izfrHkwfr;ka Share/bond HkkSfrd :i esa FkhA vFkkZr~ dkxth :i esa FksA ftUgsa lc bysDVªkfud MkVk fd
form nh x;h gSa bls gh Demate dgrs gSaA
➢ vc orZeku esa ;fn fdlh O;fDr dks 'ks;j ;k _.ki= [kjhnus gSa rks mls Demate Acc. [kksyuk gksxkA
➢ Demate Acc. dk lapkyu fMikWftVjh laLFkkvksa }kjk Dipository Institutes }kjk fd;k tkrk gSaA
➢ orZeku esa nks Depositary Institutes gSaA
(1) NSDL-National Securitary Depository limited LFkkiuk& 1996 AD. esaAs
LFkkiuk&1996 A.D. esa
laLFkkid& NSE
(2) CDSC-Central Depossitory serviices limited
LFkkiuk& 1998 A.D. esa
laLFkkid%& BSE
➢ Demate Account [kqyokus ds fy;s fdlh foÙkh; laLFkk ¼cSad½ ds ikl vkosnu djuk gksrk gSaA vr% ml cSad esa
Treading Account Hkh gksuk pkfg,A
➢ Demate Account ,oa Trading Account ,d&nwljs ls tqM+s jgrs gSaA
➢ SEBI Security and exchange board of India.
LFkkiuk%&1988 bZ-
➢ 1992 AD . esa lsch SEBI Account ikfjr fd;k x;kA
➢ ;g ,d oS/kkfud laLFkk gSaA
➢ ;g ,d v)Z&U;kf;d laLFkk Hkh gSaA (Qubi-Jucial body)
Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ bldks dqN U;kf;d 'kfDr;ka Hkh nh x;h gSA

➢ SEBI 'ks;j cktkjksa ds fy, ,d fofu;ked laLFkk gSaA
➢ 1988 AD. ls igys 'ks;j ckktkjksa dk fofu;eu foÙk ea=ky; }kjk fd;k tkrk FkkA
Functional of SEBI
1. Hkkjr esa 'ks;j cktkj dk LoPNFk fodkl djukA
2. fuos'kdksa ds fgrksa fd j{kk djukA
3. ;g 'ks;j cktkjksa fd LFkkiuk djokrk gSaA mu ij fuxjkuh j[krk gSaA
4. le;≤ ij mudh tkap djrk gSaAS
5. 'ks;j cktkj ds fy;s fu;e cukrk gSaA rFkk mu fu;eksa dks ykxw djokrk gSaA tks fu;eksa dk ikyu ugha djrk gSa
muds fo#) dk;Zokgh djrk gSaA
6. ;g fuEu dks ykblsl
a nsrk gSaA
➢ Brokers
➢ Sub-brokers
➢ Mutual Fund
➢ Venture Capital fund
➢ Hadge fund etc. vkfn dks ykblsl
a nsrk gSaA
➢ le;≤ ij buds [kkrksa fd tkap djjrrk gSa] rFkk vads{k.k ijh{k.k (Audit) djrk gSaA
➢ buds fy;s Hkh fu;e fofu;e cukrk gSaA
7. Depository laLFkkvksa dks Hkh fofu;fer djrk gSaA
8. 'ks;j cktkj esa gksus okys ?kksVkyksa dks jksdrk gSaA
9. ;g dEifu;ksa ds foy; o vf/kxzg.k ij fuxjkuh j[krk gSaA
10. lsch bulkbMj VªsfMax dks jksdrk gSA
SEBI Insider Treding
➢ fdlh dEiuh dh vkUrfjd o xksiuh; lwpukvksa dks izkIr djuk rFkk 'ks;j cktkj esa mudk mi;ksx djds ykHk dekukA
➢ SEBI us Insider Treding dks xSj&dkuwuh ?kksf"kr dj j[kk gSaA
➢ SEBI fuos'kdksa dks lwpuk,sa miyC/k djokrk gSaA
➢ SEBI fuos'k dh lwpuk nsrh gS lykg ughaA
➢ 'ks;j cktkj esa dke djus okys yksxksa ds Vsªfuax izksxzke Hkh j[kokrh gSaA (Broker, Sub Broker, Jobber etc.)
➢ SEBI, Rating Agency dks ekU;rk nsrh gSaA
Ex. ICRA, SRTIL, CARE
rFkk Rating Agency dh Activity dk Hkh fofu;e djrh gSaA
Rating Agency : ;g ,d Lora= laLFkk gSA tksfd fofHkUu dEiuh;ksa fd vkfFkZd fLFkfr dk fo'ys"k.k djrh gS rFkk mldh _.k pqdku
fd {kerk ds vk/kkj ij dEiuh dks Rating iznku djrh gSaA
➢ eq[; Rating Agencye fuEu gSa%&

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
o CRISIL : Credit Rating Information services of India Limited.

▪ LFkkiuk % 1987 bZ-
▪ blds vf/kdÙke 'ks;j@LokfeRo S&P ds ikl gSA
o ICRA :- Investment Information and Credit Rating Agency
▪ LFkkiuk %& 1991 bZ-
▪ blds 'ks;j moody's ds ikl gSaA
o CARE : Credit Analysis & Research.
▪ LFkkiuk % 1993 bZ-
▪ fdlh Hkh dEiuh dks Debenture tkjh djus ds fy;s dEiuh dks Rating Agency ls Rating
ysuk vko';d gSaA
Commodity Exchange
1. Commodity dk vFkZ gS oLrq,a tSls & d`f"k (comm.) & Qlys] xsg]wa pkoy] Xokj ljlksa etc.
2. Metal /kkfRod comm. :- lksuk] pkanh] ykSgk etc.
3. Fulel comm. :- Cruid oil, xSl] etc.
➢ 1960 esa Hkkjr esa commodity exchange ij jksd yxk nhaA
➢ 1999 bZ- esa Commodity exchange dks fQj ls vuqefr nh x;hA
Hkkjr ds eq[; Commodity exchange fuEu gS&
1. NMCE : National multi commodity exchange

o LFkkiuk % 2002 bZ- esa vgenkckn esAa
o Hkkjr dk igyk Commodity exchange gSA
2. MCX : Multi commodity exchange.
o LFkkiuk % 2003 bZ- esa eqEcbZ esAa
o ns'k dk lcls cM+k Commodity exchange gSaA
3. NCDEX: National Commodity and Dervetive exchange.
o LFkkiuk % 2003 bZ- esa eqEcbZ esAa
o ns'k dk nwljk lcls cM+k Stock exchange gSaA
4. ICEX : Indian commodity exchange
o LFkkiuk % 2009 bZ- esa ¼xq:xzke½ esa
5. MCX-SX : Multi commodity exchange and stock exchange
o LFkkiuk % 2013 bZ- ¼eqEcbZ½
o ;g ns'k dk igyk ,Dlst a gS tgka ij Commodity ds lkFk&lkFk stock dh Treding Hkh exchange fd;k tkrk
gSA
o Commodity exchange esa future treding gksrh gSA
Benefits of Commodity exchange
1. vfrfjDr ekax l`ftr gksrh gSaA ftlls oLrqvksa fd dhers vf/kd jgrh gSaA ftlls fdlkuksa dks mudh Qlyksa dk i;kZIr
ewY; fey tkrk gSA
2. cM+s O;kikfj;ksa dh ekWuksikWyh de@[kRe gks tkrh gSaA
3. vukt ds Hk.Mkj.k esa lgk;d gSaA tks fd vdky tSlh fLFkfr;ksa esa ennxkj gksrk gSaA
4. eqnzkLQhfr dks fu;af=r djus ds fy;s bls Vwy ds :Ik esa mi;ksx esa fy;k tk ldrk gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
uqdlku %
1. ;g eqnzkLQhfr dks c<+krk gSaA

2. lV~Vsckth dks izksRlkgu feyrk gSaA
Forward market commission (FMC) :
➢ LFkkiuk % 1953 bZ-

➢ ;g commodity exchange dh fofu;ked laLFkk FkkA
➢ lu~ 2015 esa bldk foy; SEBI esa dj fn;k x;kA
➢ orZeku esa commodity exchange dk fofu;eu SEBI djrk gSaA
eqnzkLQhfr (Inflation)
eqnzk oLrq = Inflation
 
ewY; de ewY; vf/kd
;fn oLrqvksa o eqnzkvksa dh rqyuk esa oLrq dk ewY; vf/kd gSa] rks bls eqnzkLQhfr dgrs gSaA
eqnzk oLrq = Deflation
ewY; vf/kd ewY; de
fQyhi oØ % ,d lhek rd eqnzkLQhfr o csjkstxkjh esa udkjkRed lEcU/k gksrk gSaA
o D;ksfa d ;fn eqnzkLQhfr c<+rh gS] mRiknudÙkksa@

Z vkiwfÙkdrkZ og iqu% fuos'k djrk gSaA fuos'k ls jkstxkj ds volj l`ftr gksrs
gSaA ftlls csjkstxkjh de gksxhA
Targeting Inflation: eqnzkLQhfr dh og fLFkfr ftl ij mRiknu c<+rk gS rFkk jkstxkj ds u;s volj l`tu gks rs gSaA bls Targting
Inflation dgrs gSaA
➢ bls Growth fleation Hkh dgrs gSaA

➢ fodkl'khy ns'kksa esa ;g 3-5% rd gksuh pkfg,A
➢ fodflr ns'kksa esa = 1-2% rd
➢ RBI us 4% Targting Inflation fu/kkZfjr dh gSa rFkk ;g ±2% gks ldrh gSaA
eagxkbZ okf"kZd :i ls ekQh tkrh gSaA vFkkZr~ 1 o"kZ iwoZ dh dher ls orZeku dher ds chp rqyuk dh tkrh gSaA
tSls %& July 2021 dh dherksa dh rqyuk July 2020 dh dherksa ls dh tk;sxhA
➢ gj ekg eqnzkLQhfr dks ekik tkrk gSA

1. Galloping Inflation :- eqnzkLQhfr dh rst xfr ls c<+rh gqbZ njA bls Runway Inflation Hkh dgrs gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
2. Hyper Inflation :- rsth ls c<+rh gq;h eqnzkLQhfr dh nj tks yxHkx vfu;af=r gks pqdh gS rFkk eqnzk iz.kkyh /koLr gks
pqdh gSaA
3. Dis Inflation :- eqnzkLQhfr dh ?kVrh gqbZ njA blesa eqnzkLQhfr dh nj de gksrh gS] ysfdu oLrqvksa ,oa lsokvksa dh nj
egaxh gks jgh gSaA
Dis Inflation :- igys dh rqyuk esa de eagxh gksxkA Dis inflation dgrs gSaA
Galloping Inflation :– tu- = 8%, Qjojh = 10%, ekpZ = 12%
Des Inflation :– vizSy = 18%, ebZ = 9%, twu = 8%, twykbZ = 5%, vxLr = 3%
Diflation ¼voLQhfr½:- eqnzkLQhfr dh udkjkRed nj dks Deflation dgrs gSaA blesa oLrq,a vkSj lsok;sa dh dhers de gksrh gSaA vFkkZr ~
oLrq,a o lsok,a ljÙkh gksrh gSA eqnzk dk ewY; c<+ tkrk gSaA
oLrq eqnzk
tuojh = 8%
Deflation Qjojh = 7%
ekpZ = 6%
➢ ;fn oLrqvksa dk ewY; ?kVrk gS rks mRiknudÙkkZ ?kkVs esa jgrk gSaA ftlesa m|ksx cUn gksus yxrs gSaA csjkstxkjh c<+us yxrh
gSaA ;fn ;g de ls de nks =Sekfld rd gksrk gS] rks bls Recession ¼vkfFkZd eanh½ dgrs gSaA
➢ ;fn ;s fLFkfr;ka dbZ o"kksaZ rd jgrh gS] rks bls Depression ¼egkeanh½ dgrs gSaA
➢ ,slh Great depression 1929 bZ- esa vk;h FkhaA
Stagflation :- ;fn vFkZO;oLFkk esa eqnzkLQhfr dh fLFkfr mPp Lrj ij cuh gq;ha gSaA rFkk blds lkFk gh mRiknu de gks jgk gS] rFkk
csjkstxkjh c<+ jgh gS] ,slh fLFkfr dks mPp LQhfr dgrs gSaA
➢ ;g fLFkfr dsUnzh; cSad ds fy;s nqfo/kk dh fLFkfr mRiUu djrh gSaA

➢ ;fn eqnzkLQhfr dks fu;af=r djus ds fy, C;kt nj dks c<+krh gS] rks fuos'k ij izfrdqy izHkko iM+rk gSaA vkSj jkstxkj@mRiknu
vkSj de gksxkA
➢ ;fn dsUnzh; cSad eqnzkLQhfr dks fu;af=r djus ds fy,@mRiknu o jkstxkj dks c<+kus ;k izksRlkfgr djus ds fy;s C;kt njsa
de dj nsrh gS] rks eqnzkLQhfr vkSj c<+ tk;sxhA
Core-Inflation : eqnzkLQhfr dh nj esa ls rjyrk ds vfrfjDr vU; dkjdksa ds izHkko dks ;fn ?kVk fn;k tkrk gS] rks bls core
inflation dgrs gSaA
Core Inflation = Inflation – ckg~; dkjdksa dk izHkko
ckg~; dkjd %&
➢ d`f"k Qlyksa dk u"V gksuk]

➢ ifjogu O;oLFkk xM+cM+kuk
➢ vUrZjk"Vªh; cktkj esa ØwM vkW;y dh dhers c<+ukA
pwfa d RBI rjyrk vf/kd gksus ds dkj.k eagxkbZ dks fu;af=r dj ldrh gSaA vU; dkjdksa ds dkj.k c<+h eqnzkLQhfr dks ugha dj ldrhA
blfy, RBI Core Infaltion dh x.kuk djrh gSa tks dh rjyrk ds dkj.k vk;h egaxkbZ dks n'kkZrh gSaA blfy, RBI Core Inflation
ds vk/kkj ij viuh ekSfnzd uhfr fu/kkZfjr djrh gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
Cost Push Inflation : oLrqvksa dh ykxr dher c<+us ds dkj.k c<+rh gS tks CP eqnzkLQhfr gksrh gSaA
fuEu dkj.kksa ls oLrq dh ykxr c<+rh gSaA
➢ dPpk eky dh dhersa c<+ukA

➢ etnwjh dh njs c<+ukA
➢ C;kt nj c<+ukA
➢ m|eh ykHk c<+k nsAa
Dimand Pull Inflation : ;fn oLrqvksa dh ekax vf/kd gks tk;sAa
fuEu dkj.kksa ls ekax tkrh gSaA
➢ tula[;k c<+ksrjhA
➢ lkoZtfud O;; vf/kd gksA
➢ dkyk /ku vf/kd gSA
➢ C;kt njs de gksukA
➢ fons'kh eqnzk dk vUrZizokgA
Skew Inflation ¼frjNh eqnzkLQhfr½ % ;fn oLrqvksa dh fdlh fo'ks"k lewg dh dhers c<+rh gSa] rks bls frjNh eqnzkLQhfr dgrs gSaA
tSls %& izksVhu bU¶ys'ku %& fiNys dqN le; ls izksVhu ;qDr Hkkstu ds izfr tkx:drk c<+h gSa] blfy, izksVhu mRiknksa dh ekax esa
o`f) gq;ha gSaA blfy, ;g mRikn egaxs gq;s gSaA
eqnzkLQhfr dk ekiu
WPI (Whole Sale Price Index) CPI (Consumer Price Index)
;g okf.kT; ,oa m|ksx ea=ky; ds }kjk tkjh fd;k tkrk gSA lkaf[;dh ,oa dk;ZØe fØ;kUo;u ea=ky; ds }kjk tkjh fd;k tkrk
gSA
blesa Office of Economic Adviser bls tkjh djrk gSA bldks dsUnzh; lkaf[;dh dk;kZy; }kjk tkjh djrk gSaA (SO)
;g pkj izdkj dk gksrk gSaA ;g rhu izdkj dk gksrk gSaA
1. izkFkfed oLrq,sa = blesa 117 oLrq,a yh tkrh gSaA 1. CPI xzkeh.k
2. f}rh;d oLrq,a ¼bZa/ku½ = 16 oLrq,a yh tkrh gSA 2. CPI 'kgjh
3. WPI (fofu;ked oLrq,a) = 564 oLrq,a yh tkrh gSA 3. CPI 'kgjh $ xzkeh.k
4. eq[; WPI = 697 oLrq,a
WPI iwjs Hkkjro"kZ ds fy;s ,d gh tkjh fd;k tkrk gSaA {ks=h; CPI iwjs ns'k ds lkFk&lkFk jkT;ksa o dsUnz 'kkflr izns'kksa ds fy,
WPI ugha gksrk gSaA vyx ls tkjh fd;k tkrk gSaA
buesa dsoy oLrq,a 'kkfey dh tkrh gSaA CPI esa oLrqvksa ds lkFk&lkFk lsokvksa dks Hkh 'kkfey fd;k tkrk
gSaA
WPI esa [kk| oLrqvksa dk Hkkjka'k de gSaA ¼yxHkx 20%½ CPI esa [kk| oLrqvksa dk Hkkjka'k T;knk gksrk gSaA ¼yxHkx 60%½
vk/kkj o"kZ = 2011-12 vk/kkj o"kZ = 2011-12
vk/kkj o"kZ ifjorZu
WPI izR;sd efgus dh 14 rkjh[k dks tkjh fd;k tkrk gSA CPI izR;sd efgus dh 11 rkjh[k dh tkjh fd;k tkrk gSA
igys ;g lkIrkfgd Hkh tkjh gksrk FkkA
2014 rd WPI eq[; lwpdkad FkkA RBI viuh ekSfnzd uhfr 2014 esa CPI dks eq[; lwpd a kd cuk fn;k x;kA
blds vuqlkj fu/kkZfjr djrh FkhaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
CPI (Consumer Price Index) : Je ea=ky; ds }kjk rhu izdkj ds CPI tkjh fd;s tkrs gSaA Je C;wjks (Labour Bureau) f'keyk
esa fLFkr gSaA
CPI
'kgjh xzkeh.k
CPI = IW ¼vkS|ksfxd Jfed½ CPI ¼d`f"k etnwj½ CPI ¼xSj d`f"k

etnwj½
bldk vk/kkj o"kZ = 2016 fd;k x;k gSA
GDP Deflator :- Nominal GDP, Real GDP
Base effect : eqnzkLQhfr ds vkadM+s fiNys lky dh dherksa ls izHkkfor gksrs gSaA ;fn fiNys o"kZ dherksa esa fxjkoV vkrh gSaA rks vxys
o"kZ eqnzkLQhfr dh nj vf/kd fn[krh gSaA D;ksfa d dhersa iqjkuh fLFkfr dks iqu% izkIr djrh gSaA rFkk ;fn fiNys o"kZ eqnzkLQhfr dh nj
vf/kd de jgsxha ;k voLQhfr dh fLFkfr jgsxhA bls gh Base effect dgrs gSaA
➢ 2020-21 esa dksjksuk ds dkj.k yxs ykWd&Mkmu dh otg ls GDP dh o`f) udkjkRed gks x;h FkhA
➢ vFkkZr~ mRiknu de gks x;k Fkk bl otg ls foÙk o"kZ 2021-22 esa gekjh GDP dh o`f) nj vf/kd jgsxhA bldk dkj.k gS&
base effect.
➢ tcfd mRiknu esa okLrfod o`f) mruh ugha gksxhaA
eqnzkLQhfr ds izHkko %
➢ eqnzkLQhfr dh nj vf/kd gksrh gSa rks cprdÙkkZ ;k _.knkrk ?kkVs esa jgrk gS blfy, cpr grksRlkfgr gksrh gSaA
➢ ;fn cpr grksRlkfgr gksxh rks fuos'k ij izfrdqy izHkko iM+x
s kA
➢ ;fn fuos'k ugha gksxk rks mRiknu ds volj o jkstxkj ds volj de gksx a sA
izHkkoh C;kt nj = C;kt nj – Inflation
➢ cprdrkZ dks ykHk fnykus ds fy, dsUnzh; cSad lnSo ;g iz;kl djrh gSa fd C;kt nj eqnzkLQhfr dh nj ls vf/kd jgsAa
➢ ;fn C;kt nj eqnzkLQhfr dh nj ls vf/kd jgrh gS rks cprdrkZ Qk;ns esa jgsxkA blfy, eqnzkLQhfr dh nj vf/kd gksrh gS]
rks dsUnzh; cSad C;kt njs c<+k nsrk gSa ¼;fn C;kt nj vf/kd gksxh rks fuos'k ij izHkko iM+x
s k½
➢ EkqnzkLQhfr vkSj vf/kd eqnzkLQhfr dk dkj.k curh gSaA
➢ eqnzkLQhfr c<+rh tkrh gS vkSj vUrr% iwjh eqn zk iz.kkyh /oLr gks tkrh gSaA bl fLFkfr esa dkykcktkjh vf/kd gks tkrh gSA
¼yksx oLrqvksa dk Hk.Mkj.k djus yx tkrs gSa½
➢ eqnzkLQhfr dk lokZf/kd cqjk izHkko xjhcksa rFkk vlaxfBr {ks= esa dke djus okys yksxksa ij iM+rk gSaA D;ksfa d eqnzkLQhfr dk
izfrdqy izHkko iM+rk gSA bls fiscal drag ¼jktdks"kh; d"kZ.k½ dgrs gSaA
jktdks"kh; d"kZ.k (fiscal drag) :- eqnzkLQhfr vf/kd gksus ij laxfBr {ks= esa dke djus okys yksxksa dks egaxkbZ HkÙkk fn;k tkrk gSA
➢ eagxkbZ HkÙks ds dkj.k mudh ekSfnzd vk; vf/kd gks tkrh gS tcfd mudk okLrfod osru ugha c<+rkA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ ekSfnzd vk; vf/kd gksus ds dkj.k esa Åij Tax slab esa vk tkrs gSaA blfy, mudh dj ns;rk,a c<+ tkrh gSa rks bllsmudh
okLrfod vk; de gks tkrh gSA
➢ vk;kr&fu;kZr ij izfrdqy izHkko iM+rk gSA
➢ ;fn eqnzkLQhfr dh nj vf/kd gksrh gS] rks gekjs vk;kr T;knk gks tkrs gS rFkk fu;kZr de gks tkrs gSaA
➢ blls gekjk Hkqxrku larqyu ladV esa iM+ tkrk gSaA
➢ eqnzkLQhfr vf/kd gksus ij ljdkjh ;kstukvksa ij O;; vf/kd gks tkrk gSA
➢ blls jktdks"kh; ?kkVk vf/kd gks tkrk gSA
➢ ;fn eqnzkLQhfr dh nj mPp jgrh gS] rks vFkZO;oLFkk dh lk[k ij izfrdqy izHkko iM+rk gSA blls fons'k fuos'k grksRlkfgr
gksrk gSA
eqnzkLQhfr ds dkj.k %&
1991 ls igys Hkkjr esa eqnzkLQhfr izk;% ?kjsyw dkjdksa ij vf/kd egRoiw.kZ izHkko Fks ysfdu 1991 d vkfFkZd lq/kkjksa ds ckn eqnzkLQhfr
ds ?kjsyw o oSf'od nksuksa izdkj ds dkj.k gS rFkk oSf'od dkj.k vf/kd izHkkoh jgsA
eqnzkLQhfr ds vUrZjk"Vªh; dkjd %&
1. ØwM vkW;y dh dhersa vf/kd gksus ij gekjs ns'k esa isVªksy o Mhty dh dhersa vf/kd gks tkrh gSA blds ifj.kke Lo:i
vU; oLrqvksa o lsokvksa dh dhers c<+ tkrh gS] D;ksfa d mRiknu ifjogu esa isVªksy o fMty dk mi;ksx fd;k tkrk gSA bl
izHkko dk dkLdsfa Mx effect dgrs gSaA
2. :i;s dh fofue; nj & ;fn :i;s dk voewY;u gksrk gS] vFkkZr~ #i;k detksj gksrk gS rks gekjsa vk;kr vR;f/kd eagxs gks
tkrs gSa] blfy, eqnzkLQhfr vf/kd gks tkrh gSA
vk;kr & egxsa → de gksx

a sA
₹ dk voewY;u
fu;kZr & lLrs → vf/kd gksx
a sA
3. vk;kr ckf/kr gksuk & dbZ dkj.kksa ls gekjs vk;kr ckf/kr gks tkrs gSaA
(i) fons'kksa esa ykWdMkmu gksukA
(ii) phu ds lkFk ruko vf/kd gksukA
(iii) dksbZ vkSj vUrZjk"Vªh; ladV mRiUu gksukA
➢ pwfa d gekjs vf/kdka'k m|ksx vk;krksa ij fuHkZj gksrs gSa] vkSj vk;kr esa cka/kk mRiUu gksus ls gekjs mRikn ij izfrdqy izHkko
iM+rk gSA
4. vkfFkZd izfrcU/k %& fodflr ns'kksa }kjk ;k WTO }kjk vkfFkZd izfrcU/k yxk;sa tk ldrs gSaA blls ;gg dkj.k vHkh Hkkjr
ij ykxw ugha gksrk gSaA
5. tyok;q ifjorZu %&
?kjsyw dkjd %&
1. gekjs ns'k esa d`f"k {ks= dh o`f) nj dh rqyuk esa etnwjh dh o`f) njsa vf/kd rsth ls c<+h gSaA bl otg ls d`f"k mRiknksa
dh ekax esa vf/kd o`f) gqbZ gSaA tcfd mldh vkiwfrZ de gqbZ gSaA blfy, d`f"k mRiknksa dh dherksa esa o`f) c<+rh jgrh
gSaA
2. jktdks"kh; ?kkVk vf/kd gksuk %& ljdkj izk;% iwt a hxr O;; dks fu;af=r dj ysrh gSA ysfdu jktLo O;; fu;af=r ugha
gksrs gSaA
o jktLo O;; vf/kd gksus ls eqnzkLQhfr c<+rh gSA orZeku esa ljdkj dk jktdks"kh; ?kkVk vf/kd gSA
3. ykWdMkmu dh otg ls mRiknu xfrfof/k;k¡ izHkkfor gqbZ gSA blls cktkj esa vkiwfrZ de gqbZ gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
4. C;kt njsa de gksuk & RBI vFkZO;oLFkk dks eanh ls cpkus ds fy, uhfr xr njksa dks yxkrkj de j[k jgh gSA vFkkZr~
bls fpi euh ikWfy'kh dgrs gSaA
de C;kt njsa = cktkj esa rjyrk vf/kd gksxhaA
bl otg ls cktkj ekax vf/kd gSaA
5. lkekU;r% fodkl'khy ns'kksa esa ekax l`ftr djus ds fy, vfrfjDr rjyrk cktkj esa j[kh tkrh gSaA ftlls fdersa vf/kd
jgrh gSaA
eqnzkLQhfr dks fu;af=r djus ds mik;

eqnzkLQhfr dks fu;af=r djus ds fy, nks rjg ds mik; egRoiw.kZ dke esa vkrs gSaA
ekSfnzd mik;
mik;
jktdks"kh; mik;
1. ekSfnzd mik; % RBI eq[; ftEesnkjh

(i) ek=kRed mik;
• Bank Rate
• Repo Rate
• Reverse Reop Rate
• MSF Rate
• SLR
• CRR
• Market ¼LVsVykbtslu Ldhe½
• Open Market Operation
• Long term operation (LTRO)
• ekSfnzdLQhfr ;fn vf/kd gS] rks bls fu;af=r djus ds fy, mi;qZDr dks c<+k;k tkrk gSA
• RBI dk eq[; mÙkjnkf;Ro eqnzkLQhfr dks fu;af=r djukA
(ii) xq.kkRed mik;
• uSfrd lq>ko
• izR;{k dk;Zokgh
• Rational Credit
• ekftZu vko';drk
• miHkksDrk ØsfMV fofu;eu
2. jktdksf"k; mik;%
i. vuko';d O;; dks fu;af=r djsxhaA mRiknu xfrfof/k;ksa dks c<+kus okys O;; vf/kd djrh gSA iwt
a hxr O;; c<+krh gS
ftlls mRikn c<+rk gSA
iwt
a hxr O;; & vf/kd
jktLo O;; & de
ii. fu;kZrksa dks de djrh gSA vk;krksa dks c<+krh gSA
iii. dkykcktkjh dks jksduk blds fy, ljdkj txg&txg Nkis ekjrh gS] rFkk HkMkj.k dks tCr djrh gSa ;k cktkj esas ykrh
gSA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
iv. lkoZtfud forj.k iz.kkyh dks etcwr fd;k tkrk gS ;k tks oLrq,a vf/kd egaxh gksrh gS rFkk cqfu;knh vko';d dh gksrh
gSA mldk forj.k ljdkj Lo;a djrh gSA
v. ljdkj jktdks"kh; ?kkVs dks de djrh gSA
vi.
izR;{k dj & bUgsa de fd;k tkrk gSA
dj
vizR;{k dj & bUgsa de fd;k tkrk gSA
vii. lfClMh iznku fd tkrh gSA
jktdks"kh; uhfr (Fisical Policy)
➢ ljdkj dh lHkh izfIr;ka rFkk O;; ls lEcfU/kr uhfr jktdks"kh; uhfr dgykrh gSA
➢ ljdkj dh jktdks"kh; uhfr ctV ds ek/;e ls vfHkO;Dr gksrh gSA
❖ ctV %& lafo/kku ds Art – 112 esa ctV dk izko/kku gSaA Art-112 esa bls okf"kZd foÙkh; fooj.k 'kCn dk iz;ksx fd;k x;k
gSA blesa ctV 'kCn dk mYys[k ugha gSaA
➢ vke&cksy&pky dh Hkk"kk esa bls ctV (Budget)
➢ ctV dh ijEijk 1860 bZ- esa tsEl foYlu us igyh ckj ctV is'k fd;kA (GG ykWMZ dsfuax)
➢ vktknh ds ckn 1947 esa "k.keq[k lsB~Bh us igyk ctV is'k fd;kA (Nov. 1947)
➢ ;g ctV Qjojh ds igys dk;Zfnol dks izLrqr fd;k tkrk gSA
➢ 2016 rd Qjojh ds vfUre dk;Zfnol dks ctV is'k fd;k tkrk FkkA
➢ ctV lqcg 11 cts is'k fd;k tkrk gSA 1999 ls igys lk;a 5%00 cts is'k fd;k tkrk FkkA
➢ ctV jk"Vªifr dh vkSj ls foÙk ea=h }kjk izLrqr fd;k tkrk gSA
➢ vkfFkZd ekeyksa dk foHkkx ¼foÙk ea=ky;½ ctV rS;kj djrk gSaA
➢ ctV izfØ;k esa 3 foÙk o"kZ ds vkadM+s is'k fd;s tkrs gSaA
➢ ctV izLrqr djus ls 1 fnu iwoZ foÙk ea=h vkfFkZd leh{kk is'k djrk gSaA vkfFkZd leh{kk esa 2 o"kZ ds vkadM+s is'k gksrs gSaA
1- orZeku o"kZ ds la'kksf/kr vkadM+s
2- xro"kZ & vafre vkadM+s (1 April 2020 – 31 March 2021)
➢ eq[; ctV esa vkxkeh foÙk o"kZ ds vuqekfur vkadM+s gksrs gSA
➢ ctV esa ljdkj ds vkxkeh foÙk o"kZ esa gksus okyh izkfIr;ksa rFkk O;; ls lEcfU/kr vuqekfur vkadM+s gksrs gSaA ;s laln dh
vuqefr vkadM+s gksrs gSaA ;s laln dh vuqefr ds fy, is'k fd;s tkrs gSaA
➢ 2017 esa ctV esa 3 izdkj ds cnyko fd;s x;s gSaA
i. Qjojh ds igys dk;Z fnol ij ctV is'k djukA
ii. ;kstuk xr O;; rFkk xSj ;kstukxr O;; dk oxhZdj.k lekIr dj fn;k x;kA
iii. ;kstuk vk;ksx lekIr vkSj iapo"khZ; ;kstuk lekIr dj nh x;hA
iv. jst ctV dks eq[; ctV esa 'kkfey dj fy;k x;kA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
ctV
jktLo [kkrk iwt

a hxr [kkrk
jktLo izkfIr;k¡ jktLo O;; iwt

a hxr izkfIr;k¡ iwt
a hxr O;;
• dj
• C;kt • j{kk • _.k pqdkuk
• _.k
• vuqnku • C;kt • fuos'k djuk
• fofuos'k
• PSU }kjk fn;s • lfClMh • _.k nsuk
• _.k dh olqyh
x;s iSl • iz'lk'kkfud O;; • fuos'k ds vUnj cqfu;knh
<kapksa dks rS;kj djuk
jktLo ?kkVk & jktLo O;; & jktLo izkfIr;k¡
izHkkoh jktLo ?kkVk & jktLo ?kkVk & iwt

a hxr ifjlaifÙk;ksa ds fuekZ.k ds fy, fn;k x;k vuqnkuA
❖ jktLo izkfIRk;k¡ % ljdkj dh os izkfIr;k¡] ftuls u rks ns;rk,¡ l`ftr gksrh gS] u gh ifjlaifÙk;k¡ de gksrh gSA
_.k ysuk
ns;rk,a
O;fDr
ifjlaifÙk;ka
_.k nsrk
❖ jktLo O;; %& ljdkj ds os O;; ftuls u rks ns;rk,a de gqbZ gS] u gh ifjlaifÙk;k¡ c<+h gSA
❖ iwathr izkfIr;k¡ %& ljdkj dh os izkfIr;k¡ ftuls ns;rk ¼l`ftr½ gqbZ rFkk ifjlaifÙk;k¡ Hkh ugha c<+hA ¼de½
❖ iwathxr O;; %& ljdkjj ds os O;; ftuls ;k rks ns;rk,a de gksrh gSa rFkk ifjlaifÙk;k¡ l`ftr gksrh gSaA mUgsa iwt
a hxr O;;
dgrs gSaA
➢ iwt a hxr izkfIr;ksa dh ctk; jktLo izkfIr;k¡ dks vPNk ekuk tkrk gSA
➢ jktLo O;; ds ctk;] iwt a hxr O;; dks vPNk ekuk tkrk gSA
ctV ?kkVk = dqy O;; & dqy izkfIr;k¡
¼jktLo O;; + iwathxr O;;½ & jktLo izkfIr;k¡ $ iwt a hxr izkfIr;k¡
➢ 1997 ls igys ctV ?kkVk gh gekjh jktdks"kh; uhfr dk eq[; lwpdkad FkkA vFkkZr~ ctV ?kkVs dh x.kuk dh tkrh
Fkh ysfdu 1997 ds ckn ls ctV ?kkVs ds LFkku ij jktdks"kh; ?kkVs dks eq[; lwpdkad cuk fn;k x;k gSA orZeku
esa ¼1997 ds ckn ls ctV ?kkVk 'kqU; dj fn;k½
jktdks"kh; ?kkVk %& jktdks"kh; ?kkVk = dqy O;; & dqy vk; ¼jktdks"kh; O;; $ iwt a hdqy O;;½ ¼jktLo O;; $ iwt
a hxr O;;½ &
¼jktLo izkfIr;k¡ & xSj _.k iwt
a hxr izkfIr;k¡½ $ ¼ljdkj }kjk l`ftr vU; ns;rk,¡½

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
jktdks"kh; ?kkVk %& 1 foÙk o"kZ esa vius lHkh izdkj ds O;; ¼jktLo O;; ;k iwt
a hxr O;;½ dks iwjk djus ds fy, ljdkj }kjk fy,
x, u;s _.k rFkk l`ftr vU; ns;rkvksa dks jktdks"kh; ?kVk dgrs gSaA
➢ jktdks"kh; ?kkVk = dqy _.k $ l`ftr vU; ns;rk,¡
= 1 o"kZ esa l`ftr ns;rk
➢ 1 foÙk o"kZ esa ljdkj ds }kjk l`ftr dqy ns;rk,¡ dks jktdks"kh; ?kkVk dgrs gSaA
➢ vU; ns;rk & ;fn ljdkj dgha xkj.Vh nsrh gS rFkk og dEiuh fnokfy;k ?kksf"kr gks tkrh gS] rks ljdkj dks og _.k
pqdkuk iM+rk gSA
➢ 1997 ls igys ctV ?kkVk eq[; lwpd a kd Fkk vkSj ctV ?kkVs dh iwfrZ ds fy, ljdkj Adhuc treasury bill tkjh djuh
FkhaA vFkkZr~ vfrfjDr izfrHkwfr;k¡ tkjh djrh FkhA rFkk u;s vfrfjDr uksV Niokrh Fkh blls cktkj esa rjyrk c<+ tkrh FkhA
blls eqnzkLQhfr dh leL;k cuh jgrh FkhaA
➢ ljdkj dk foÙkh; vuq'kklu de jgrk FkkA
➢ lq[ke; pØorhZ lfefr dh flQkfj'k ls ctV ?kkVs LFkku ij jktdks"kh; ?kkVs dks ctV dk eq[; lwp a dkad cuk fn;k x;kA
ctV ?kkVk 'kwU; dj fn;k x;k vkSj blds LFkku ij "Ways and means advance" (WMA) 'kq: fd;k x;kA
Way and means advance: RBI dsUnz ljdkj o jkT; ljdkjksa dks _.k lqfo/kk miyC/k djkrh gS] ;fn ljdkj dh izkfIr o O;;
esa valrqyu gS] rks blds fy, vf/kdre 90 fnu ds fy, _.k fn;k tkrk gS rFkk jsiks nj ls C;kt olqy fd;k tkrk gSA
• _.k dh vf/kdre jkf'k ljdkj o RBI }kjk fu/kkZfjr dj nh tkrh gSA ;fn bls limit ls vf/kd _.k fy;k tkrk gS] ljdkj
ds }kjk rks C;kt nj jsiks jsV ±2% gksxhA
• Over draft facility dsoy 10 fnu ds fy, gks ldrh gSA
• ;g eqnzk cktkj dk ,d mnkgj.k gSaA
izkFkfed ?kkVk %& ¼izkFkfed ?kkVk = jktdks"kh; ?kkVk & C;kt vnk;xh½
jktdks"kh; ?kkVk vf/kd gksus ij mlds nq"izHkko %&
➢ Lkjdkj ij _.k vf/kd gks tk;sa& ;fn jktdks"kh; ?kkVk vf/kd gS rks ljdkj ij _.k vf/kd gks tk;sxk ¼dtkZ c<+ tk;sxk½
rks mls u;s _.k ugha fey ik;sxs ,slh fLFkfr esa ljdkj fMQkYVj gksus yxrh gS] deZpkfj;ksa dks le; ij osru Hkqxrku ugha
gksxk rks blls jktuhfr vfLFkjrk mRiUu gks tkrh gSA
➢ fons'kksa ls _.k & ?kkVs dks iwjk djus ds fy, ljdkj dks _.k ysuk iM+rk gSA ;fn ljdkj fons'kksa ls _.k ysrh gS rks gesa
gekjh lEizHkwrk ds lkFk le>kSrk djuk iM+rk gSaA D;ksfa d gesa _.k nsus okyksa dh 'krksaZ dks ekuuk iM+rk gSA
➢ ?kjsyw _.k & ;fn ljdkj ?kjsyw cktkj ls _.k ysrh gS rks futh {ks= ds fy, /ku dh miyC/krk ugh jgsxh rks bls ØkmfMax
out dgrs gSA ØkmfMax out dh fLFkfr esa fuos'k ugha gksxk rks mRiUu ugha gksxk fQj jkstxkj ugha fey ik;sxkA bls gh
Crouding out effect dgrs gSaA
➢ eqnzkLQhfr & jktdks"kh; ?kkVk vf/kd gksus ls eqnzkLQhfr dh fLFkfr c<+ tkrh gSA ¼D;ksfa d jktdks"kh; ?kkVk vf/kd gS½ rks
eqnzkLQhfr dh leL;k c<+ tk;sxhA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
jktdksf"k; ?kkVk vf/kd
ljdkjh O;; vf/kd
rjyrk vf/kd
ekax vf/kd
eqnzkLQhfr c<+ tk;sxh
➢ ;fn ljdkj u rks fons'k ls _.k ys u gh ?kjsyw cktkj ls _.k ys] viuk ?kkVk iwjk djus ds fy, vfrfjDr lsD;qjVh tkjh
djds u;s uksV Niokrh gS] rks blls Hkh cktkj dh rjyrk c<+rh gS] rFkk eqnzkLQhfr dh leL;k c<+ tkrh gSA
❖ tqM+ok ?kkVs (twin dificit) : dh leL;k mRiUu gksrh gS] ;fn jktdks"kh; ?kkVk vf/kd gSA
jktdksf"k; ?kkVk vf/kd
ljdkjh O;; vf/kd
cktkj dh rjyrk vf/kd
ekax vf/kd
fu;kZr de ;k vk;kr vf/kd
O;kikj ?kkVk vf/kd
❖ O;kikj ?kkVk & fu;kZr de ;k vk;kr T;knk gks rks mls O;kikj ?kkVk dgrs gSaA
O;kikj ?kkVk = fu;kZr < vk;kr
Twin deficit = jktdks"kh; ?kkVs ds lkFk&lkFk O;kikj ?kkVk Hkh gksA
7. ljdkj jktLo O;; esa vklkuh ls dVkSrh ugha dj ldrh blfy, vius ?kkVs dks de djus ds fy, og vius iwt a hxr
O;; esa deh dj nsrh gSA blls cqfu;knh <kaps ij izfrdqy izHkko iM+rk gS rks gekjh vFkZO;oLFkk dh o`f) nj esa deh gks
tk;sxhA
GDP Growth de gks tk;sxhA
cqfu;knh <kapk & 1. HkkSfrd <kapk 2. Lkekftd <kapk
fctyh] ikuh] lapkj] lM+d vkfn
8. ;fn jktdks"kh; ?kkVk vf/kd jgrk gS] blls vFkZO;oLFkk dh fo'oluh;rk de gksrh gSaA nqljksa dh Rating ,tsl
a h
vFkZO;oLFkk dh jsfVax dks de dj nsrs gSaA
vxj jsfVax de gksxh rks blls fons'kh fuos'k ij izfrdqy izHkko iM+x
s kA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
jktdks"kh; ?kkVs dks fu;af=r djus ds fy;s ljdkj ds }kjk fu;af=r fd;s x;s mik; %&
1. FRBM Act 2003 :- Fisical responsibility and budget management at 2003
jktdks"kh; mÙkjnkf;Ro o ctV izcU/ku vf/kfu;e & 2003
• bl dkuwu esa gekjk jktdks"kh; ?kkVk 3% gksuk pkfg, rFkk jktLo ?kkVk 0% gksuk pkfg,A
2. Zero Base Budget 'kq: fd;kA ¼vo/kkj.kk dks ykxw fd;k tk jgk gSA½
3. Out come budget dh vo/kkj.kk dks ykxw fd;k tk jgk gSA
4. dj lq/kkj ykxw fd;s tks jgsa gSAa GST, VAT, DTC
5. lfClfM dks foosd lEer cuk;k tk jgk gSA rFkk izR;{k lfClfM dks izksRlkgu fn;k tk jgk gSA
6. fofuos'k dks izksRlkgu fn;k tk jgk gSA
7. PPP ekWMy dks izksRlkgu fn;k tk jgk gSA ¼ifCyd] izkbosV] ikVuZf'ki½
8. futh {ks= dks c<+kok fn;k tk jgk gSA
•
ljdkjh foHkkxksa dks vkRefuHkZj cuus ds fy, izksRlkfgr fd;k tk jgk gSA blds fy, os foHkkx lkoZtfud lEifÙk ds
O;olkf;d nksgu dh vuqefr nh x;h gSA
❖ FRBM Act 2003 : ;s 2003 esa ykxw gks x;k FkkA
mÌs'; %&
1. jktdks"kh; vuq'kkluA
2. O;; o jktLo] _.k dk dq'ky izcU/ku djukA
3. lef"V vFkZO;oLFkk dk LFkkf;RoA
4. jktdks"kh; uhfr o ekSfnzd uhfr ds e/; csgÙkj rkyesyA
5. jktdks"kh; dk;ksaZ esa iknf'kZrkA
FRBM act ds izko/kkuksa ds rgr]
i. 2008-09 rd jktdks"kh; ?kkVk GDP dk vf/kdre 3% rd gks ldrk gSaA

ii. 2008-09 rd jktLo ?kkVk GDP dk 0% gksuk pkfg,A bldk izko/kku gSa] fd ctV ds lkFk&lkFk fuEu nLrkost is'k
djuk vko';d gS&
a. e/;kof/k jktdks"kh; uhfr fooj.kA
b. jktdks"kh; uhfr j.kuhfr fooj.kA
c. lef"V vFkZO;oLFkk (Framework Statement)
d. e/;kof/k O;; (Framework statement) <kapk fooj.k
➢ 2008-09 esa oSf'od eUnh dh fLFkfr mRiUu gks x;h FkhA ftldk vFkZ Hkkjr ij Hkh FkkA vr% Hkkjrh; vFkZO;oLFkk esa ek¡x
l`ftr djus ds fy, jktdks"kh; ?kkVs dks c<+k;k x;kA
➢ 2012 esa FRBM Act esa la'kks/ku fd;k x;k] dgk dh 2015 rd y{; iwjs djus gSaA
➢ blds lkFk gh 2012 esa izHkkoh jktLo ?kkVs dk izko/kku fn;k x;kA
➢ 2015 bZ- esa la'kks/ku fd;k vkSj dgk 2018 rd ;s y{; iqjk gksuk pkfg,A

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ 2016 bZ- N.K. flag lfefr cuk;h x;h rFkk bl lfefr us dgk 2020 rd jktdks"kh; ?kkVk GDP dk 3% gksuk pkfg, rFkk
2023 rd 2.50% gksuk pkfg,A
➢ 2023 rd jktLo ?kkVk 8% gksuk pkfg,A
Deft- GDP Ratio :
➢ _.k GDP vuqikr 60% gksuk pkfg,A
40% dsUnz ljdkj ds _.k
20% jkT; ljdkj ds _.k
➢ jktdks"kh; ifj"kn dk xBu fd;k tkuk pkfg, tks fd ,d Lok;Ùk laLFkk gks] ftlls (1+2) lnL; gksxAsa ysfdu dksjksuk ds
dkj.k jktdks"kh; ?kkVs ds y{; dks izkIr djuk dfBu gks x;k gSA
➢ orZeku esa jktdks"kh; ?kkVk 9% gSA
➢ jktLo ?kkVk 7.5% gSA
FRBM Act esa Escape clauses ns j[ksa gSa ¼fopyu ds izko/kku½ fuEu fLFkfr;ksa esa jktdks"kh; ?kkVk 3% ls vf/kd gks ldrk gSA
1. jk"Vªh; lqj{kk & ;q) gks tk;sAa

2. jk"Vªh; vkink
3. d`f"k dk fo?kVu
4. lajpukRed lq/kkj
Zero Base Budget :
➢ ijEijkxr ctV esa dsoy ljdkj dh ubZ ;kstukvksa o dk;ZØeksa dh leh{kk dh tkrh gSaA mudh izklafxdrk o mi;ksfxrk
ns[kh tkrh gSA
➢ iqjkuh ;kstukvksa o dk;ZØeksa dh leh{kk ugha dh tkrhA mUgsa Lor% Lohd`fr ns nh tkrh gSaA tcfd Zero Base budget
esa ubZ ;kstukvksa ds lkFk&lkFk iqjkuh ;kstukvksa dh Hkh leh{kk dh tkrh gSA
➢ blesa ctV ds vk/kkj dks 'kqU; ekuk tkrk gS vFkkZr~ ,sls ekuk tkrk gSa fd lHkh ;kstuk;sa ubZ gSaA
❖ ykHk %&
➢ jktdks"kh; ?kkVk de gksrk gSaA ¼jktdks"kh; vuq'kklu cuk jgrk gS½
➢ os iqjkuh ;kstuk;sa tks vizklafxd ;k vuqi;ksxh gks tkrh gS mUgsa cUn fd;k tk ldrk gSA
➢ dk;Zikfydk ij fo/kkf;dk dk fu;a=.k c<+rk gSaA
❖ dfe;ka &
➢ le; T;knk [kpZ gksrk gSaA blfy, zero base budget dh vo/kkj.kk dks Concept ds :i ls vo/kkj.kk dks ykxw fd;k
tkrk gSaA
➢ 1986 bZ- esa igyh ckj foKku o rduhdh foHkkx }kjk bldk vkaf'kd iz;ksx fd;k x;kA
➢ iwoZ foÙk ea=h ;a'koUr flUgk us bl ij cy fn;k FkkA
❖ Out Come budget :
➢ 2005 bZ- esa foÙk ea=h P. fpnEcje us bldh ?kks"k.kk dh FkhA
➢ 2006 bZ- esa bls ykxw fd;k x;kA
➢ 2007-08 bZ- esa Out Come budget o Performance budget dk foy; dj fn;k x;kA
➢ Performance budget 1968 bZ- esa ykxw fd;k x;k FkkA
➢ Out come budget ekulwu l= esa is'k fd;k tkrk gSA
Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ Out come budget ds rgr fofHkUu foHkkxksa dks HkkSfrd y{; fn;s tkrs gSaA rFkk budget ds Out comes dk xq.kkRed
ewY;kadu Hkh fd;k tkrk gSaA
Gender budget :
2005 bZ- foÙk ea=h ih fpnEcje us fd FkhA blds rgr ctV esa efgykvksa o cPpksa ds dY;k.k ds fy;s ;k efgyk l'kfDrdj.k ds
fy, tks /ku vkoafVr fd;k tkrk gS rFkk tks fo'ks"k ;kstuk,a o dk;ZØe cuk;s tkrs gS] mUgsa vyx ls crk;k tkrk gSA is'k fd;k
tkrk gSaA
mís'; %& efgyk l'kfDrdj.k ds izfr ljdkj dh xEHkhjrk ;k laosnu'khyrk dks n'kkZuk rkfd bl eqís ij tkx:drk c<+As
❖ ys[kkuqnku (Vote on account) :

➢ igys Qjojh ds vafre dk;Zfnol dks ctV is'k fd;k tkrk Fkk rFkk ;g yxHkx 15 ebZ rd ikfjr fd;k tkrk FkkA
➢ tcfd u;k foÙk o"kZ 1 vizSy ls 'kq:@vkjEHk gks tkrk gSaA rks 1 vizSy ls 15 ebZ rd ds [kpksaZ dks iqjk djus ds fy;s
ys[kkuqnku is'k fd;k tkrk FkkA ysfdu 2017 ls Qjojh ds igys dk;Zfnol dks ctV is'k fd;k tkrk gSaA rFkk 31 ekpZ rd
ikfjr dj fn;k tkrk gSA vFkkZr~ foÙk o"kZ vkjEHk gksus ls igys ctV ikfjr dj fn;k tkrk gSaA vr% ys[kkuqnku is'k djus
dh vko';drk ugha gksrh gSaA
❖ vUrfje ctV (Interior budget/Vot on Account) :
➢ pqukoh o"kZ esa bls is'k fd;k tkrk gSaA D;ksfa d ljdkj dk dk;Zdky de cpk gksrk gS rks cps gq;s dk;Zdky ds fy, vUrfje
ctV is'k fd;k tkrk gSaA rkfd eq[; ctV uofuokZfpr ljdkj cuk ldsAa
❖ ghukFkZ izcU/ku (Deficit financing) :
➢ bls ?kkVs dk foÙk;u Hkh dgrs gSaA
➢ ;fn ljdkj ds O;; mlds vk; dh rqyuk esa vf/kd gks rks bls ghukFkZ izcU/ku djrs gSA bu O;; dks iwjk djus ds fy,
ljdkj dk _.k ysuk iM+rk gS ;k ljdkj dks u;h izfrHkwfr;ka tkjh djuh iM+rh gSa ;k u;s uksV Niokrs iM+rs gSaA
➢ J.M. dhUl us ghukFkZ izcU/ku dh vo/kkj.kk nh gSA
➢ 1929 dh vkfFkZd eanh (Great Depression) ds le; bldk mi;ksx fy;k x;kA rjyrk dks c<+kus ds fy, rFkk ekax l`ftr
djus ds fy,A
➢ izk;% fodkl'khy ns'kksa esa ekax l`ftr djus ds fy, ghukFkZ izcU/ku dk mi;ksx fd;k tkrk gSA
xjhch (Poverty)
lkis{k xjhch fujis{k xjhch

(Relative Poverty) (Absolute Poverty)
1- lkis{k xjhch %& blesa yksxksa ds chp rqyukRed v/;;u fd;k tkrk gSA blds rgr vkfFkZd vlekurk dks ns[kk tkrk gSA
➢ rqyukRed :Ik ls ftl O;fDr dh vk; de gksrh gS mls xjhc ekuk tkrk gSA
tSls %& A ds ikl & 1000 Cr.

Income
B ds ikl & 100 Cr.
rks A dh rqyuk esa B xjhc gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ lkis{k xjhch ds rgr vyx&vyx ns'kksa esa xjhch ekiu ds ekud vyx&vyx gksrs gSaA fofHkUu ns'kksa ds vkfFkZd fodkl
dh fLFkfr ij fuHkZj djrs gSaA
tSls & fodkflr ns'kksa esa xjhch ds ekud vyx gksrs gSaA fodkl'khy ;k vYi fodflr ns'kksa dh rqyuk esAa
➢ Ex = Hkkjr esa igys dSyksjh miHkksx dks xjhch ekiu dk vk/kkj ekuk tkrk FkkA ysfdu orZeku esa xjhch ekiu ds fy,
dSyksjh miHkksx ds lkFk&lkFk f'k{kk] LokLF; euksjatu] fctyh] ikuh vkfn dks vk/kkj cuk;k tkrk gSaA
➢ Xkjhch ekiu ds fy, ns'k] dky vkSj ifjfLFkfr ds lkis{k ekud cnyrs gS] rks bls lkis{k xjhch dgrs gSaA
➢ Lkis{k xjhch ds rgr vk; fd vlekurk dks ns[kk tkrk gSA
➢ ykWjsUt oØ vk; dh vlekurk dks n'kkZrk gSA
Y
vk; C.F.
la'k;
ckjEckjrk
okLrfod xjhch js[kk
X
Tkula[;k dh la'k;
ckjEckjrk
➢ ykWjsUl ds vuqlkj ;fn fdlh ns'k dh okLrfod xjhch js[kk vkn'kZ js[kk utnhd gS] rks bldk vFkZ gS fd ml ns'k esa vk;
dh vlekurk de gSaA
➢ ;fn okLrfod xjhch js[kk vkn'kZ js[kk ls nwj gS] rks bldk vFkZ gS fd vk; dh vlekurk vf/kd gSaA
➢ ;fn fdlh ns'k dk ykWjsUl oØ iw.kZr% vkn'kZ js[kk esa lekfgr gks tkrk gS] rks bldk vFkZ gS fd ml ns'k es a iw.kZr% lekurk
gSA
➢ ;fn fdlh ns'k dk ykWjsUl oØ x-v{k esa lekfgr gks tkrk gS rks iw.kZr% vlekurk gSaA
Tkula[;k C.F. of population vk; C.F. vk;

10% 20% 5% 5%
20% 40% 10% 15%
20% 60% 15% 30%
20% 80% 20% 50%
20% 100% 50% 100%
ykjsUl oØ
𝛥𝑂𝐴𝐶
fxuh xq.kkad (Gini Coefficient) = 𝛥𝑂𝐴𝐵
fxuh xq.kkad ykWjsUt oØ dk gh xf.krh; :i gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
okLrfod js[kk
C
O B
➢ fxuh xq.kkad dk eku 0 ls 1 ds chp gksrh gSA

➢ fxuh xq.kkad dk eku vf/kd gS rks vlekurk vf/kd gSaA
➢ fxuh xq.kkad dk eku de gS] rks vlekurk de gksxhA
➢ ;fn fxuh xq.kkad dk eku 0 gS] rks iw.kZr% lekurk gSaA
➢ ;fn fxuh xq.kkad dk eku 1 gS] rks iw.kZr% vlekurk gSaA
❖ fujis{k xjhch %
➢ blesa O;fDr ds fy, ;g ns[kk tkrk gS fd og thou dh cqfu;knh vko';drkvksa dks iqjk dj ikrk gSa ;k ughaA
➢ tks O;fDr thou dh cqfu;knh vko';drkvksa dks iqjk ugha dj ikrk gS] mls xjhc ekuk tkrk gSaA thou dh cqfu;knh
vko';drkvksa ds fy, dqN ekud fu/kkZfjr fd;s tkrs gSa rFkk bu ekudksa ds vk/kkj ij xjhch js[kk dk fu/kkZj.k gksrk
gSA rFkk yksxksa dks nks Jsf.k;ksa esa ckaVk tkrk gSaA
(i) xjhch js[kk ls uhps (BPL - Below Poverty Line)
(ii) xjhch js[kk ls Åij (APL – Above Poverty Line)
bls Head Count method ¼flj fxuus dh fof/k½ Hkh dgrs gSaA blesa xjhcksa dk izfr'kr ;k xjhcksa dh la[;k fudkyh tkrh gSaA
xjhch fu/kkZj.k dh ;g fof/k yksdfiz; gSaA Hkkjr esa xjhch ekiu ds fy;s fujis{k xjhch dks ns[kk tkrk gSA
UNO, Asian Development, Bank, World Bank vkfn ds }kjk Hkh fujis{k xjhch ls gh xjhch ekih tkrh gSA
fujis{k xjhch ds vuqeku ds nks fy, nks izdkj dh fof/k;ksa dk iz;ksx fd;k tkrk gSaA
URP = Uniform Reference Period
blds rgr ;g ns[kk tkrk gS fd fdlh ifjokj us fiNys 30 fnu esa [kk| oLrqvksa ij dqy fdruk O;; fd;k gSA
NSS = National Sample Serve Office
2. MRP = Mixed Reference Period
➢ blds rgr ;g ns[kk tkrk gS fd fiNys 365 fnu esa diM+]s twrs] f'k{kk] LokLF;] fVdkÅ oLrq,a vkfn ij fdruk dqy O;;
fd;k gSaA
❖ Hkkjr esa xjhch ekiu %
➢ Hkkjr esa xjhch ekiu dk dke uhfr vk;ksx }kjk fd;k tkrk gSA
➢ uhfr vk;ksx dks NSSO vkadM+s miyC/k djokrk gSaA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
➢ NSSO lkaf[;dh ,oa dk;ZØe fØ;kUo;u ea=ky; ds v/khu vkrk gSA

➢ Hkkjr esa xjhch ekiu dh bdkbZ ifjokj dks ekuk x;k gS ,d vkn'kZ ifjokj esa 5 lnL; ekus x;s gSaA
➢ Xjhch dk vuqeku izfro"kZ fd;k tkrk gSaA
➢ cM+s Lrj ij losZ 5 o"kZ esa ,d ckj fd;k tkrk gSaA
➢ xjhch ekiu ds fy, vk; dks vk/kkj ugha cuk;k tkrk gSa cfYd miHkksx O;; dk vk/kkj cukdj fd;k tkrk gSaA
➢ Hkkjr esa igys dSyksjh dati'ku ¼miHkksx½ dks xjhch ekiu dk vk/kkj cuk;k x;k FkkA ysfdu orZeku esa dSyksjh miHkksx ds
lkFk&lkFk f'k{kk] LokLF;] diM+]s twrs ,oa vU; fVdkÅ oLrqvksa dks Hkh vk/kkj cuk;k tkrk gSA
➢ dSyksjh miHkksx = 2100 dSyksjh & 'kgj izfr O;fDr
= 2400 dSyksjh & xkao izfr O;fDr
➢ lkekU; O;fDr ,d fnu esa 3000 dSyksjh dh t:jr gksrh gSaA dBksj ifjJe okys O;fDr dks 4000 dSyksjhA
➢ UNO = MPI (Multidimentional poverty index)
➢ World Bank : tks O;fDr 1 fnu esa 1.90 MkWyj ls de O;; djrk gSA
➢ ,f'k;u MoyiesVa cSad & tks O;fDr 1 fnu esa 1-51 MkWyj ls de O;; djrk gS] oks xjhc gSA
Hkkjr esa xjhch ekiu dk bfrgkl &
➢ 1868 bZ- esa Poverty an Unbritish Rule in India uked iqLrd esa xkao esa ₹16 o 'kgj ₹35 izfrO;fDr izfro"kZ ls dekrk
gS rks og xjhc gSaA
➢ 1938 :- jk"Vªh; vk;kstu lfefr dk xBu dkaxzsl us fd;k FkkA bl lfefr ds v/;{k tokgj yky usg: FksA bl lfefr us
Hkkstu ¼2800 dSyksjh½] diM+k ¼31 xt½] edku ¼10×10½ dks vko';drk crk;kA
➢ bl lfefr xkao esa ₹15 o 'kgjh {ks= esa ₹20 dh vk; lqfuf'pr djuh pkfg,A
➢ 1944 bZ- ckWEcs Iyku %& ns'k ds eq[; m|ksxifr;ksa us ns'k ds vkfFkZd fodkl ds fy, ,d dk;Z ;kstuk cuk;h FkhA
• bl Iyku dks VkVk&fcM+yk Iyku Hkh dgrs FksA
• izfr O;fDr ₹75 izfr o"kZ ls de vk; okys dks xjhc ekuk tkrk gSA
2019 esa NSSO o CSO dk foy; dj fn;k x;k gSA blds LFkku ij bldk u;k uke NSO : National Stastic office ¼jk"Vªh;
lkaf[;dh dk;kZy;½ j[kk gSA
vktknh ds ckn %&
➢ 1962 bZ- esa ;kstuk vk;ksx us ,d fo'ks"kK ny cuk;kA blds vuqlkj izfro"kZ xkao & ₹20 rFkk 'kgj & ₹25 [kpZ djrk gSA
➢ 1971 bZ- V.M. nk.Msdj o N. jFk dks fu;qDr fd;k x;k xjhch ekiu gsrqA bUgksua s xjhch ekiu ds fy, dSyksjh miHkksx dh
vk/kkj cuk;kA
➢ 2200 dSyksjh izfrO;fDr izfrfnu ls de miHkksx djus okyk O;fDr xjhc gSaA
➢ 1979 bZ- Y.K. vy?k dh v/;{krk esa vy?k lfefr dk xBu fd;k FkkA buds vuqlkj dSyksjh miHkksx ds lkFk&lkFk iks"kd
rRoksa dk Hkh /;ku nsuk pkfg,A
xkao = 2400 dSyksjh

izfrO;fDr izfrfnu vko';drk gksrh gSA
'kgj = 2100 dSyksjh
➢ 1993 bZ- D.T. ydM+kokyk dh v/;{krk esa lfefr dk xBu fd;k x;kA
• blus xjhch ekiu ds fy, dSyksjh miHkksx dks gh xjhch ekiu dk vk/kkj cuk;kA

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
xkao = 2400 dSyksjh

izfrO;fDr izfro"kZ
'kgj = 2100 dSyksjh
• lfefr us flQkfj'k dh vke vkneh Fkksd eqY; ij oLrq,a ugha [kjhnrk gSaA og miHkksDrk eqY; ij oLrq,a [kjhnrk gSaA
vr% xjhch ekiu esa WPI dh txg CPI dk iz;ksx fd;k tkuk pkfg,A
'kgj ds fy;s CPI = vkS|ksfxd odZj

xkao ds fy;s CPI = d`f"k etnwj
➢ pqafd vyx&vyx jkT;ksa o UT ds fy;s CPI vyx&vyx gksrk gSaA blfy;s lHkh jkT;ksa o UT ds fy;s xjhch js[kk Hkh
vyx&vyx gksuh pkfg,A
lu~ 2005 esa lqjs'k rsna qydj lfefr dk xBu fd;k x;k FkkA
lu~ 2009 esa flQkfj'ksa nh Fkha&
➢ lfefr us ijEijkxr :i ls viuk;s tkus okys dSyksjh miHkksx dh vkykspuk dh D;ksfa d fiNys pkj n'kd esa yksxksa dk miHkksx
dk rjhdk cny x;k gSaA
➢ dSyksjh miHkksx ds vfrfjDr Hkh vU; vok';drk,a Hkh gksrh gSaA
➢ igys ;g ekuk tkrk Fkk fd f'k{kk o LokLF; miyC/k djokuk ljdkj dh ftEesnkjh gSaA
➢ eqnzk LQhfr ds lkFk lek;kstu Hkh lgh ugha gSaA
flQkfj'ksa %&
➢ dSyksjh miHkksx ds lkFk&lkFk fuEu phtksa dks Hkh egRo fn;k tkuk pkfg,A tSls & nq/k] nkys] [kk|] rsy] lfCt;k¡] Qy]
lq[ks&esos] diM+]s twrs] f'k{kk] LokLF;] euksjatuA
➢ xkaoksa vkSj 'kgjksa ds jgu&lgu esa vc vf/kd varj ugha gSaA bl dkj.k Uniform Poverty Line Basket esa URP dh txg
MRP dks viuk;k tkuk pkfg,A
➢ 2009-10 esa xjhch ekiu QkWeqZyas dks viuk;k x;kA yxHkx 29% yksx xjhc FksA
C. jax jktu lfefr – 2012 :
➢ lqjs'k rsna qydj ds }kjk fn;s x, QkWewys dh leh{kk djukA

➢ nqfu;k ds vU; ns'kksa esa xjhch ekiu ds fy;s dkSulh fof/k;ksa dk iz;ksx dh tkrh gSA mu lc dk v/;;u djukA
➢ Hkkjr ds fy, xjhch ekiu dh csgrj fof/k dk lq>ko nsukA
➢ Lkkekftd dY;k.k dh ;kstukvksa dk fØ;kUo;u dSls fd;k tk;s rkfd xjhch dk mUeqyu fd;k tk ldsAa
dk;Z %&
1.blus vyx izfØ;k dk iz;ksx fd;k x;kA

2.blus NSSO ds vkadM+ksa dk iz;ksx ugha fd;kA
3.blus Lora= losZ djok;kA (Central for monitering Indian Economy) lsA
4.tks yksx cpr ugha dj ikrs gSa mu yksxksa dks xjhc ekuk tkuk pkfg,A
5.dSyksjh miHkksx ds lkFk&lkFk Hkkstu dh xq.koÙkk ij Hkh tksj fn;k tkuk pkfg,A
xkaoksa esa 2155 dSyksjh] 48 xzke izksVhu] 26 xzke olk
'kgjksa esa 2090 dSyksjh] 50 xzke izksVhu] 28 xzke olk
➢ buds lkFk lkekU; thou thus ds fy;s vkSj [kk| O;; Hkh gksus pkfg,A

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492
Economy Notes
tSls%& f'k{kk] LokLF;] fctyh vkiwfrZ] ikuh vkiwfrZ] diM+]s tqÙks vkfnA
➢ blds vuqlkj xjhch vuqeku ds fy;s Modified MRP dk iz;ksx fd;k tkuk pkfg,A
Modified MRP :
o 365 days – diM+]s twrs] f'k{kk] LokLF;] fVdkÅ oLrqvksAa

o 30 days – [kk| oLrqvksa ij fd;k x;k fctyh] ¶;wy] fdjk;k
o 7 days – v.Ms] nq/k] Qy] lfCt;ksa ij fd;k x;k [kpZ
➢ xkaoksa o 'kgjksa ds fy;s vyx&vyx ckLdsV dk iz;ksx fd;k tkuk pkfg,A
➢ 2009&10 esa yxHkx 37% yksx BPL esa FksA
➢ 2011-12 esa yxHkx 29.5% yksx BPL FksA
O;; & xkao = 4860, 'kgj = 7035

Jaipur- 302018 Mob.: 0141-3555948, 9636977490, 8955577492

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SPRINGBOARD ACADEMY 1

• Hkkjr ,d fefJr vFkZO;oLFkk gSA

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

fodkl dh fLFkfr ds vk/kkj ij vFkZO;oLFkk fuEu izdkj dh gksrh gS &

ekax > vkiwfrZ ekax < vkiwfrZ

eagxkbZ (Inflation) vofLQfr (Deflation)

ekSfnzd uhfr jktdks"kh; uhfr

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

Reserve Bank of India

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

Hkkjrh; efgyk cSad

Regional Rural Bank

lgdkjh cSad okf.kfT;d cSad

115 djksM lksuk 85 djksM dh vU; ifjlEifr

o Ckktkj dh rjyrk dks fu;af=r djukA

Ekk=kRed mik; Xkq.kkRed mik;

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

,e-,l-,Q (Marginal Standing Facility)

▪ ;s lqfo/kk vkjchvkbZ us 2011 bZ - esa vkjEHk dh A

[kqys cktkj dh fØ;k (Open Market Operations)

nh?kZdkfyd jsiks vkWijs’ku

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

• d`f"k ih-,l-,y izek.k i= %

• bldh LFkkiuk 1930 esa gqbZ Fkh

• csly izFke & 1988 bZ-

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

dkWy euh ekdsZV (Call Money Market)

mftZr IkVsy desVh

ekSfnzd uhfr lfefr

▪ xouZj ¼v/;{k½ ] mi xouZj ] dk;Zdkjh funs’kd

ujflEgu lfefr izFke 1991 bZ-

ujflEgu lfefr f}rh; 1998 bZ-

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

1- pkyw tek [kkrk &

3- vko`fr tek [kkrk

‘’kq) ns;rk,a (NDTL) = dqy ns;rk,a & cSadks dh tek,

eqnzk vkiwfrZ ds leqPp;

lhvkjvkj vf/kd gS rks lk[k ltZu de gksxk

lhvkjvkj de gS rks lk[k ltZu vf/kd gksrh gS

100 :- 96 :- 92.16 :- 88.47:- 84.94 :-

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

eqnzkxq.kkad &1@lhvkjvkj ;k M3/M0

vkjchvkbZ }kjk tkjh fd, x, u, ,xzhesVa l ¼leqPp;½

vkjchvkbZ vius vkadM+s dc tkjh djrh gSA

(BPLR) – Benchmark Prime Lendig Rate

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

MCLR – Marginal Cost of Fund Based Lending Rate

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

• m)s’; & foÙkh; lekos’ku

eqnzk cSad %& Micro Units Development and Refinance Agency

yksdy ,fj;k cSad

Development Finance Institution –

Industrial Finance Corporation of India

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

IFCI (INDUSTRIAL FINANCE CORPORATION OF INDIA)-

All India Refinance Agency

EXIM BANK NABARD NHB SIDBI

A-1 Keshav Vihar, Riddhi-Siddhi Chouraha, Gopalpura Bypass,

,uch,Qlh %& ukWu cSafdax QkWbZusal dEiuh

Banking Ombudsman – cSfdax yksdiky