In terms of clause 7 of the 11th Bipartite Settlement dated 11.11.2020 and clause 3 of the Joint Note dated 11.11.2020, the rate of Dearness Allowance payable to Bank officers and workmen for the months of November 2022, December 2022, and January 2022 shall be 38.92% of Basic, Special allowance and transport allowance. While arriving…
In terms of clause 7 of the 11th Bipartite Settlement dated 11.11.2020 and clause 3 of the Joint Note dated 11.11.2020, the rate of Dearness Allowance payable to Bank officers for the months of November 2022, December 2022, and January 2022 shall be 38.92% of Basic, Special allowance and transport allowance. While arriving at the…
In terms of clause 7 of the 11th Bipartite Settlement dated 11.11.2020 and clause 3 of the Joint Note dated 11.11.2020, the rate of Dearness Allowance payable to Bank clerical staff for the months of November 2022, December 2022, and January 2022 shall be 38.92% of Basic, Special allowance and transport allowance. While arriving at…
In terms of clause 7 of the 11th Bipartite Settlement dated 11.11.2020 and clause 3 of the Joint Note dated 11.11.2020, the rate of Dearness Allowance payable to Bank sub-staff for the months of November 2022, December 2022, and January 2022 shall be 38.92% of Basic, Special allowance and transport allowance. While arriving at the…
In terms of clause 7 of the 11th Bipartite Settlement dated 11.11.2020 and clause 3 of the Joint Note dated 11.11.2020, the rate of Dearness Allowance payable to Workmen’s special pay for the months of November 2022, December 2022, and January 2022 shall be 38.92% of Basic, Special allowance and transport allowance. While arriving at…
The Reserve Bank of India on Thursday said that an additional meeting of its rate-setting panel, the Monetary Policy Committee (MPC) has been scheduled to take place on November 3, 2022. This will be the second off-schedule meeting of the MPC after a surprise meeting in May. “Under the provisions of Section 45ZN of the…
The terms warranty and guarantee are often used interchangeably, but they have subtle differences. The key differences between a Guarantee and a warranty are; The guarantee covers product, service, persons, and consumer satisfaction while the warranty covers products only. A guarantee is a commitment and a warranty is considered the assurance to the customer The…
RBI in its circular dated October 13, 2022, notified that the amounts received by a bank from the National Credit Guarantee Trustee Company Ltd (NCGTC) towards claims in respect of guarantees invoked and held by them pending adjustment of the same towards the relative advances, need not be treated as outside liabilities for the purpose…
Cash reserve ratio (CRR) is a statutory provision in India regulated by RBI under Section 42(1) of the Reserve Bank of India Act 1934. According to the above section, every scheduled bank in India needs to hold on a certain percentage of cash without being allowed to invest or lend it for interest. The Cash…
The average of the minimum balances maintained (in each account) in each of the months during the half-year period is treated by the bank as the amount representing the “time liability” portion of the savings bank deposits. When the ‘time liability’ amount so arrived is deducted from the average of the actual balances maintained during…