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Questions and Answers
What is the primary purpose of the rural banking system introduced in the 1950s?
What is the minimum age requirement for the Young Pera Savers deposit account?
What is the maximum loanable amount for the teacher loan of BDONB?
Who is the founder of RB Panabo?
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What is the philosophy of service of BDONB?
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What is the provision under RA 1616 for government employees?
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What is the significance of the color blue in GSIS?
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What is the name of the mobile app that gives GSIS users instant access to their records?
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What is the program that provides double compensation to workers who experience sickness, death, or accident during work-related activities?
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How many minor children are covered by the grant of dependents pension?
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Study Notes
Network Rural Bank Group Inc.
- Comprises five rural banks, primarily servicing small producers, farmers, and fishermen.
- Established to address the credit needs of low-income consumers since the 1950s.
- Alex Buenaventura serves as the president of RB Panabo since 1980.
Account Offerings
- Young Pera Savers: Designed for children aged 0.12 years.
- Pinoy Savers Account: Requires an initial deposit of Php 100.
- Kabayan Peso Savings Account: A secure account for Overseas Filipino Workers (OFWs) and their beneficiaries.
- Primo Savings: Launched in 2004, offers higher maintaining deposit for ATM withdrawals up to Php 100,000 per day.
RB Panabo Specifics
- Founded by Dr. Luis Buenaventura Jr. on February 11, 1967.
- Maximum loan amount for teacher loans is Php 1 Million.
- Commitment to shareholders focuses on providing long-term superior returns.
- Commitment to employees emphasizes an environment valuing professionalism, integrity, and teamwork.
Government Social and Insurance System (GSIS)
- Established under Commonwealth Act No. 186 to cater exclusively to Philippine government employees.
- Rodolfo Del Rosario serves as the chairman of GSIS.
Legislation Impacting GSIS
- RA 1616: Provides refund of GSIS premium and gratuity payment for retired employees.
- PD 1146: Offers a choice between Basic Monthly Pension (BMP) or cash payment upon retirement.
- RA 7699: The portability law allowing combined periods from GSIS and SSS with paid premiums.
GSIS Attributes
- Initial capital was Php 200,000; color blue symbolizes service and integrity.
- Slogan: "Maaasahan ng Lingkod Bayan" indicates reliability.
- Active and former members have distinct packages like GFAL Plus and GFAL Active.
Benefits and Programs
- ELP (Enhanced Life Policy): Provides termination value based on premium payments.
- Temporary Total Disability: Benefits for impairments that can be rehabilitated.
- GESP: GSIS Educational Subsidiary Program for educational benefits.
- GSIS Touch: Mobile app for members to access records and beneficiaries.
Additional Information
- GWAPS: GSIS Wireless Automated Processing System for efficient processing.
- PD 626: Supports pensioners with work-related disabilities.
- Fixed cash benefits of Php 20,000 are given to pensioners reaching significant age milestones (90, 95, 100).
- CLASP offers loan restructuring for retiring members with outstanding obligations.
- Coverage expansion in 1993 mandates SSS protection for household helpers.
Social Security System (SSS)
- Social Security Act of 1954, implemented under Carlos P. Garcia, expanded coverage including health care.
- PhilHealth took over the administration of the SSS medical program, ensuring healthcare benefits.
- The Employees Compensation Program offers double compensation for work-related sickness, accidents, or death.
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Description
Test your knowledge on the Rural Bank Group Inc., its history, and its services such as the Young Pera Savers and Kabayan Peso Savings Account. Learn about its mission to serve the credit needs of the poor consumers and small producers.
