The calculation of legal due date of a bills of exchange is dependent on the type of bills of exchange viz. Demand bill or term bill. As the name suggests, a demand bill or sight bill is payable on demand (on presentation)/at sight. Whereas, a term bill (also known as ‘Usance Bill’) is payable after…
The percentage of Dearness Relief (DR) payable to the bank pensioners for the half year August 2018 to January 2019 will be as under. Retired on or after 11.2012: 541 slabs @ 0.10%=54.10% No of slabs Rate per Slab Percentage of DR payable DA on Basic Pension (Before commutation) 541 0.10% 54.10% Basic Pension ×…
12 slabs increase in DA for Aug 2018 – Oct 2018 and 14 slabs increase in DA for Aug 2018 – January 2019 for Pensioners CPI for June 2019 is 291 (6596.68) as per the announcement of Labour Bureau today (31.07.2018). With the above, the average CPI for April, May & June 2018 is 6588.…
NSFR or Net Stable Funding Ratio is a significant component on Liquidity Standards of the Basel III reforms. The guidelines in this regard finalized by RBI for implementation will come into effect in India from April 1, 2020. Unlike LCR guidelines which promote short term resilience of a bank’s liquidity profile, the NSFR guidelines ensure…
RBI vide its circular RBI/2018-19/14, DBR.AML.BC.No.210/14.01.001/2018-19 dated 12.07.2018 has made it compulsory to banks to incorporate the name of the purchaser on the face of the Demand Draft while purchasing it at a bank (including RRBs, Co-operative banks). In terms of the above notification, Section 66 of the Master Direction on KYC dated…
The draft on guidelines on Loan System for Delivery of Bank Credit released by RBI on December 6, 2018 states that the new guidelines on ‘Loan System for Delivery of Bank Credit’ for borrowers having aggregate fund-based working capital limit of ₹1500 million and above from the banking system will be effective from April 1,…
The extant regulations with regard to the regulatory capital of banks in India are different from internationally adopted Basel III capital standards. With a view to bringing the Banks’ Balance Sheet Items in closer Alignment with Basel Framework, RBI has reviewed the position and made some amendments to the capital adequacy guidelines for the purposes…
Q: How the education loan granted to a minor student binds him to repay the loan, as he is not the executant of loan documents? What is the procedure to be followed in cases of minor students as borrowers? Reply: If the student is a minor, then the parent/guardian would execute loan documents on behalf…
We are aware that the Reserve Bank of India issues Government securities on behalf of the Government. Primary Dealers are the licensed dealers who deal in buying and selling these Government securities. There are two types of primary dealers, viz. Standalone Primary Dealers and Bank Primary Dealers. Standalone Primary Dealers: Most of these PDs are…
National Credit Guarantee Trustee Company Ltd [NCGTC] was set up by the Department of Financial Services, Ministry of Finance, Government of India incorporated under the Companies Act 1956 on March 28, 2014. NCGTC, inter alia, act as a common trustee company to manage and operate various credit guarantee trust funds. At present, there are five…