Both reserves and provisions refer to the amount retained by an organization to deal with all possible contingencies in the future. In accounting parlance, reserves are appropriations out of profits and provisions are charges against profits. Although the IFRS Standards sometimes call provisions a ‘reserve’, they are not the same thing – a provision is…
The Developmental and Regulatory Policies announced today by RBI sets out various developmental measures including liquidity and regulatory measures. The highlights of the statements are as under. Liquidity Measures: Extension of Deadline for On Tap TLTRO Scheme: RBI has announced the extension of the On Tap TLTRO scheme further by a period of three months,…
The MPC of RBI today (August 6, 2021) voted unanimously to keep the policy repo rate unchanged at 4 percent. The MPC also decided on a 5 to 1 majority to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact…
New rules regarding Changes in opening and operating current Account and CC/OD facilities do not apply to borrowers who have availed agricultural/ personal Overdraft (OD) or OD against deposits” RBI said. The Reserve Bank on Wednesday allowed time to banks till October 31 to implement changes on the current account front, following reports of small…
On Wednesday (August 4, 2021) Reserve Bank cautioned the members of the public to remain alert and not to fall prey to elements using the name of Reserve Bank of India to extract money through such fictitious/ fraudulent offers. “It has come to the notice of Reserve Bank of India that certain elements are fraudulently…
National Payments Corporation of India (NPCI) in association with the Department of Financial Services (DFS), National Health Authority (NHA), Ministry of Health and Family Welfare (MoHFW), and partner banks, has launched an innovative digital solution – ‘e-RUPI’ on August 2, 2021. ‘e-RUPI’ is in essence, like a prepaid voucher except that the voucher is entirely…
AICPIN-IW for June 2021 has been released by Labour Labour Bureau on 29.07.2021. The average index numbers for the period of April 2021 to June 2021works out to 7940 (base 1960=100). It means Dearness relief for the Bank pensioners will be increased to 23 slabs for the half-year from August 2021 to January 2022. The…
Dearness Allowance for bank staff 30slabs more from August 2021 AICPIN-IW for June 2021 has been released by Labour Labour Bureau on 30.07.2021. On the basis of CPI data announced by the Labour Bureau for the period of April 2021 to June 2021, the average index number works out to 7940 (base 1960=100) or 397slabs…
Dearness Allowance for bank staff 30 slabs more from August 2021 AICPIN-IW for June 2021 has been released by Labour Labour Bureau on 30.07.2021. On the basis of CPI data announced by the Labour Bureau for the period of April 2021 to June 2021, the average index number works out to 7940 (base 1960=100) or…
Dearness Allowance for bank staff 30 slabs more from August 2021 AICPIN-IW for June 2021 has been released by Labour Labour Bureau on 30.07.2021. On the basis of CPI data announced by the Labour Bureau for the period of April 2021 to June 2021, the average index number works out to 7940 (base 1960=100) or…