Consumer Price Index for April, May, and June 2024 are 139.40, 139.90, and 141.40 respectively. Average converted to 1960 base) becomes 9218.74. The increase in slabs 9218.74/4 is 716.85 rounded off to 717 slabs. Hence The increase in DA slabs for the pensioners is 24 from AUG 2024 to January 2025. The details of dearness…
Labour Bureau announced the Index number for June 2024CPI(IW) for April’24=139.40 May’24=139.90 June’24 141.4 Average 140.23.140.23-123.03= DA for Aug-October ’24 is17.20%Last quarter 15.97 % increase in DA is 1.23% The DA chart for Officers, Clerical Staff, and Sub-Staff are as under Officers DA for the Quarter of August 2024 to October 2024 Clerical Staff DA…
CPI(IW) for April’24=139.40 May’24=139.90 June’24 141.4 Average 140.23.140.23-123.03= DA for Aug-October ’24 is17.20%Last quarter 15.97 % increase in DA is 1.23% SUB STAFF BASIC New DA Previous DA Difference 19500 4389 4075 314 20165 4534 4209 324 20830 4678 4344 335 21495 4823 4478 345 22160 4968 4613 355 22990 5148 4780 368 23820 5329…
CPI(IW) for April’24=139.40 May’24=139.90 June’24 141.4 Average 140.23.140.23-123.03= DA for Aug-October ’24 is17.20%Last quarter 15.97 % increase in DA is 1.23% CLERICAL BASIC New DA Previous DA Difference 24050 5379 4994 385 25390 5671 5265 406 26730 5962 5536 426 28070 6254 5806 447 29720 6613 6140 473 31370 6972 6473 499 33020 7331 6806…
CPI(IW) for April’24=139.40 May’24=139.90 June’24 141.4 Average 140.23.140.23-123.03= DA for Aug-October ’24 is17.20%Last quarter 15.97 % increase in DA is 1.23% OFFICERS SCALE – STAGNATION – BASIC New DA Previous DA Difference SCALE 1 – 48480 10694 9930 765 SCALE 1 – 50480 11130 10334 796 SCALE 1 – 52480 11565 10738 827 SCALE 1…
The Reserve Bank of India (RBI) has updated its wire transfer rules instructing banks and financial institutions to collect more information about wire transfers with effect from May 10, 2023. “The new rule applies to both domestic and international transfers. “All cross-border wire transfers shall be accompanied by accurate, complete, and meaningful originator and beneficiary…
Originally posted on July 22, 2014. Updated and reposted on 04.08.2024 Money laundering is the process wherein criminals attempt to conceal their booty and make an attempt to cover them as a legitimate source of income. A person shall be guilty of offence of money-laundering if such person is found to have directly or indirectly…
Foreign Account Tax Compliance Act (FATCA) is a US Law that requires foreign financial institutions to identify and report on the assets held by US account holders through enhanced due diligence reviews and report them periodically to the U.S. The report is in line with local FATCA regulations, based on citizenship. The purpose of FATCA…
Correspondent banking refers to a banking relationship between two banks, where one bank (the “correspondent bank”) provides banking services to another bank (the “respondent bank”), allowing the respondent banks to access services in foreign markets. Correspondent Banking relationships are essential in facilitating the cross-border payment system and vital to international trade and investments. A risk-based…
The Financial Action Task Force (FATF) is an international policy-making and standard-setting body dedicated to tackling money laundering, terrorist, and proliferation financing. It is a global money laundering and terrorist financing watchdog that sets international standards that aim to prevent these illegal activities and the harm they cause to society. The FATF constantly identifies and…
