The confirmed DA for bank employees and officers from 1st May 2021 will decrease by 0.56 compared to the last quarter. Based on the CPI announced by the Labour Bureau today, the average index number would be 7818. It means Dearness Allowance for the bank staff will be 366 slabs (25.62 %) or a decrease…
The confirmed DA for bank employees and officers from 1st May 2021 will decrease by 0.56 compared to the last quarter. Based on the CPI announced by the Labour Bureau today, the average index number would be 7818. It means Dearness Allowance for the bank staff will be 366 slabs (25.62 %) or a decrease…
The confirmed DA for bank employees and officers from 1st May 2021 will decrease by 0.56 compared to last quarter. Based on the CPI announced by the Labour Bureau today, the average index number would be 7818. It means Dearness Allowance for the bank staff will be 366 slabs (25.62 %) or a decrease 8…
In our previous posts we talked about (1) Tax audit, (2) What is the stock audit, and (3) What is a forensic audit? (4) What is a Legal Audit? (5) What is a statutory audit? In this post let us study what is a concurrent audit? All scheduled bank branches with deposits over Rs. 50…
The Reserve Bank of India on Monday issued certain instructions on the governance for banks, including private banks, Small Finance Banks (SFBs), Wholly Owned Subsidiaries of Foreign Banks (not applicable to foreign banks operating as branches in India). In respect of the State Bank of India and Nationalised Banks, these guidelines would apply to the…
In our previous posts we talked about (1) Tax audit, (2) What is the stock audit, and (3) What is a forensic audit? (4) What is a Legal Audit? (5) Concurrent Audit System in bank. In this post let us study what is a statutory audit? RBI issues new guidelines for Appointment of Statutory Central…
The Reserve Bank of India in consultation with the ICAI appoints qualified Chartered Accountants as Statutory Auditors of the banks. The auditor appointed as statutory auditor of a bank branch shall conduct the audit at the end of the financial year i.e.as of 31st March of the relevant year. Nowadays, the bank branches are working…
Given the prevailing law and order situation and other subversive activities carried out by antisocial/extremist organizations in the country mainly targeting the banks, the Reserve Bank of India and Indian Bank Association had prepared checklists of guidelines for stringent security arrangements for implementation in banks. The “Report of the Working Group to Review Security Arrangements…
Reserve Bank of India while allowing banks to pay dividends on equity shares, reviewed the dividend declaration norms for the year ended March 31, 2021. “In view of the continuing uncertainty caused by the ongoing second wave of COVID-19 in the country, it is crucial that banks remain resilient and proactively raise and conserve capital…
In our previous posts we talked about (1) Tax audit, (2) What is the stock audit, and (3) What is a forensic audit? (4) What is a Legal Audit? (5) Concurrent Audit System in bank. (6) What is a statutory audit? In this post let us study how the loan accounts are verifying the loan…