What is Micro ATM?

(This article elucidates the role of micro ATMs in rural India and the details of how these ATMs work. Advantage and disadvantage of Micro ATMs is explained.) The Micro ATM is the  developed version of  point of sales (POS) terminals with the advanced features like the  biometric scanner (finger print scanner) attached to it. Unlike…

Offer of additional Interest on domestic bank deposits

(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…

Dealing in Priority Sector Lending Certificates (PSLCs)

[This post answers many questions like ‘What is a PSL certificate?’, ‘Who needs PSLCs?’, ‘How the limit for issuance of each category of PSLC is decided?’ ‘How the PSLC transactions are computed for the determination of PSL target/sub-targets?’, ‘Is there any expiry date for PSLCs?’, ‘Whether the loan assets or risks of loan defaults are…