In terms SB order 13/2019 dated 18.12.2019, registration of nomination is mandatory for Sukanya Samriddhi Account (SSA) at the time of opening of account. For those accounts which are already opened before the above order, the account holder or guardian shall register nomination latest before maturity of the account. Guardian or the account holder after…
Reserve Bank of India on Wednesday asked lending institutions to disclose the aggregate amount to be refunded/adjusted in respect of their borrowers based on the Asset Classification and Income Recognition following the expiry of the Covid-19 regulatory package in their financial statements for the year ending March 31, 2021. The above announcement of the central…
As expected by most of the experts and analysts, the Reserve Bank of India (RBI) has today announced the monetary policy in which it has kept the repo rate unchanged at 4% and also decides to retain its ‘accommodative’ policy stance. RBI had kept the key policy rates unchanged for the fifth consecutive meeting. On…
The Government of India, Ministry of Housing and Urban Affairs (MoHUA), had restructured the erstwhile Swarna Jayanti Shahari Rozgar Yojana (SJSRY) and launched the National Urban Livelihoods Mission (NULM) in 2013. NULM has been implemented in all district headquarters (irrespective of population) and all the cities with population of 1 lakh or more. The Self…
Edited and republished on 05.04.2021 On Monday (05.04.2021), the Reserve Bank of India updated several amendments made to the Gold Monetization scheme 2015 to date and advised all designated banks to give adequate publicity to the Scheme through their branches, websites, and other channels. As per present guidelines, nominated banks authorized to import gold by…
Claim procedure on death of the depositors of Small Savings Schemes like SB, RD, TD, MIS, etc. To make the process of claiming money from the various post office small savings schemes such as Post Office Monthly Income Scheme (PO-MIS), Post Office Recurring Deposit, Term Deposits, and claim procedures of Public Provident Fund (PPF), National…
The “Prime Minister’s New 15-Point Programme for the Welfare of Minorities” is the revised guidelines of the earlier programme on Credit facilities to the minority community. The objective of the new programme is to ensure that the benefits of various government schemes for the underprivileged reach the disadvantaged sections of the minority communities which are…
Edited and republished on April 1,2021 Last evening, in a massive blow to middle-class depositors, on the last day of the financial year, the government had announced a huge cut in interest rates of small savings scheme such as PPF, NSC and other post office deposits up to110 basis point for the first quarter of…