The most well-known and frequently tracked metric used for measuring the economic growth of a country is the gross domestic product (GDP). The Gross Domestic Product measures the value of goods and services produced by a nation both for domestic sale and exports. However, GDP does not include imports for measurement, as imports are not…
Reserve Bank of India on Friday (August 02, 2019) reminded all the commercial banks that they are not permitted to charge foreclosure charges / pre-payment penalties on home loans / all floating rate term loans sanctioned to individual borrowers. The above norm of prohibiting banks charging foreclosure charges/pre-payment penalties on floating rate loan is already…
As per existing External Commercial Borrowings policy norms, ECB proceeds could not be utilized by the borrowers for the following purposes. (i) Working capital purposes, (ii) General corporate purposes, (iii)Repayment of Rupee loans except when the ECB is availed from foreign equity holder for a minimum average maturity period of 5 years.(iv) On-lending for above…
The average index number for April 2019 to June 2019 works out to 7172. Therefore Bank Pensioners would get 70 slabs to increase as dearness relief for the half-year August 2019 – February 2020. The following chart shows the rate of dearness relief applicable to bank pensioners who have retired on various dates. The percentage…
As per the announcement of the Labour Bureau of the Government today (31.07.2019), the average index numbers for April 2019 to June 2019 works out to 7167. It means bank staff will get 36 slabs increase in DA for the ensuing quarter July 2019 to October 2019.The following chart shows the rate of dearness relief…
Banks’ staff will get 36 slabs to increase in dearness allowance (DA) for the ensuing quarter: August 2019 to October 2019. It means revised DA for sub-staff will be at 68.10% for the quarter from August 2019 to October 2019 over the previous quarter. Revised Old increase Stage Basic Spl.All. Total 68.10% 64.50% 3.60%…
On the basis of CPI data announced by the Labour Bureau for the month of April 2019 to June 2019, the confirmed DA for the ensuing quarter August 2019 to October 2019 will be at the rate of 68.10%. It means bank officers will get 36 slabs increase over previous quarter. Stage Basic_pay Spl.Pay…
As per the announcement of the Labour Bureau of the Government today (31.07.2019), the average index numbers for April 2019 to June 2019 works out to 7167. It means bank staff will get 36 slabs to increase in DA for the ensuing quarter July 2019 to October 2019. The following chart shows the rate of…
The Consumer Protection Bill, 2019 was passed in Lok Sabha on Tuesday July 30, 2019. The Bill proposes setting up of the Consumer Disputes Redressal Commission (CCPA) and forums at the District, State and National levels for adjudicating consumer complaints. The above Bill once becomes law (after passing in Rajya Sabha and President of India’s…
Economic growth is an increase in the production of economic goods and services per head of the population over a specific period. It can be measured in nominal or real (adjusted for inflation) terms to be more accurate. Economists and statisticians use different methods such as Gross national product (GNP) and Gross Domestic Product (GDP)…