The Stand-Up India Scheme is launched by Government of India to generate the profitable employment to hitherto underserved segment of our society. The scheme provides bank loans between 10 lakh and 100 lakh to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting…
(Depositors, like Senior Citizen Karta of HUF, NRE/NRO account of own staff of the bank, employees who are retired on compulsory retirement from the bank or in consequence of disciplinary action, Casual employees of the bank, employees’ federations etc. are not eligible for additional interest meant for staff. However, senior citizens, spouse of deceased staff/deceased retired…
Loans must be made available to illiterate customers as are offered to other customers. Their inability to read the contents of document and execution thereof should not be a criterion for sanctioning/denying a loan. As far as execution of documents there is no distinction under law, between a literate and illiterate person. Therefore, the requirements…
Cash management refers to a broad area of finance involving the collection, handling, and usage of cash. Issuance and distribution of cash is one of the important functions of Reserve Bank of India. The RBI has agency arrangements mainly with scheduled commercial banks, under which a currency chest is managed. Bank notes and coins are…