In today’s negotiation (5-12-2019) between UFBU and IBA, the following issues were discussed: Wage Revision UFBU: Unions demanded that the earlier offer of a 12% hike from IBA is not at all adequate and IBA should improve their offer. IBA: Looking at the various constraints of the bank’s profitability, it would be difficult to improve.…
In the fifth bi-monthly monetary policy statement announced on Thursday (dated 05.12.2019), MPC decided to keep policy REPO rate under the liquidity adjustment facility (LAF) unchanged at 5.15 per cent. The MPC also decided to continue with the accommodative stance as long as it is necessary to revive growth, while ensuring that inflation remains within…
National Agriculture Market (eNAM) is a pan-India electronic trading portal which networks the existing APMC mandis to create a unified national market for agricultural commodities. The scheme envisages the implementation of the NAM by setting up of an appropriate common e-market platform that would be deployable in selected 585 regulated wholesale markets in States /…
The soil health card (SHC) is a printed report which contains status of a farmer’s soil with respect to 12 parameters, namely N,P,K (Macro-nutrients); S (Secondary- nutrient); Zn, Fe, Cu, Mn, Bo (Micro – nutrients); and pH, EC, OC (Physical parameters). Based on the above findings on the specific soil report, SHC recommends for dosage…
Pradhan Mantri Krishi Sinchai Yojana (PMKSY) has been formulated in 2015 by amalgamating ongoing schemes viz. Accelerated Irrigation Benefit Programme (AIBP) of the Ministry of Water Resources, River Development & Ganga Rejuvenation (MoWR, RD&GR), Integrated Watershed Management Programme (IWMP) of Department of Land Resources (DoLR) and the On-Farm Water Management (OFWM) of Department of Agriculture…
Resident Foreign Currency (RFC) accounts in India If you are a non-resident Indian planning to return back to India for good, you need not worry about the fate of foreign currency (FCNR) deposits held by you under your present status as an NRI. Non-resident Indians may continue to maintain their bank accounts in RFC- Resident foreign…
Today (29.11.2019) RBI has filed an application under insolvency and liquidation proceeding against “ Dewan Housing Finance Corporation Limited” under Section 227 read with clause (zk) of sub-section (2) of Section 239 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rules 5 and 6 of the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings…
Mr.M.K.Jain, Deputy Governor of Reserve Bank of India while speaking at the inaugural session of the Small Industries Development Bank of India (SIDBI) National Microfinance Congress 2019 at Mumbai, said that “Microfinance, involving the extension of small loans and other financial services to low-income groups, is a very important economic conduit designed to facilitate financial…
The Core Committee (Workmen) of Unions held a meeting with IBA at Mumbai on 28.11.2019 and discussed the following matters. Consumer Price Index: The representatives of the Core Committee discussed Adoption of New Series of Consumer Price Index for calculation of D. A. The matter of new DA formula will be discussed and decided during…
The identification of nominee whether resident or non-resident, the procedure is the same. The nominee can be identified by: Nominee swearing an affidavit before a Notary/Judicial Authority. Or Two officers of the Bank. Or Clients of the Branch or persons of repute known to the Branch. The settlement of the claim involves the following procedures.…