READY RECKONER designed to calculate revised Basic, PQP/FPP/DA of bank employees as per 11th BPS

This READY RECKONER designed to assist with the calculation of gratuity/pension/commutation amount of Bank employees retired after 1.11.2017 This reckoner is prepared for the purpose of helping the employees retired from bank service after 1.11.2017 that have to claim arrears of gratuity, pension, and commutation of pension, a family pension from their employer bank for…

The requirement of AFA for card transactions/ e-mandates relaxed to Rs.5000 from Jan 1

“Enhancing Security of Card Transactions”, wherein users were provided the option of a switch on / off or set limits for various card features, including for contactless transactions at Points of Sale (PoS) terminals. RBI has relaxed the AFA (Additional Factor of Authentication) requirement for values up to Rs. 5000- per transaction with effect from…

Now Banks may regularize Direct Dispatch of Shipping Documents to the consignee for any value

As announced in Statement on Development and Regulatory Policies dated December 4, 2020, RBI delegates more power to AD banks in the areas like Direct Dispatch of Shipping Documents, “Write-off” of unrealized export bills, Set-off of Export receivables against Import payables, Refund of Export Proceeds. Direct Dispatch of Shipping Documents: With a view to simplifying…