The Sovereign Gold Bond Scheme 2020-21 – Series IX will be open for subscription for the period from December 28, 2020 to January 01, 2021. The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the…
Today, RBI for a second time in six months cautioned the general public and small business enterprises against falling prey to unauthorized digital lending platforms and mobile apps on promises of quick and hassle-free loans. The RBI’s words of caution come from reports over coercive recovery tactics including incessant calls, and naming and shaming defaulters…
This post offers you the holiday lists for the calendar year 2021 released by all the Indian states under explanation to section 25 of the Negotiable Instrument Act 1881 (NI Act). The holiday declared under NI Act is applicable exclusively to the banks located within the administration area of specific State and Union Territory. In…
National Payments Corporation of India (NPCI) said that it has introduced RuPay Contactless (Offline) feature.The card comes with a reloadable wallet feature where customers can store money to ensure quick and hassel-free transactions compared to regular credit/debit card transactions. The RuPay NCMC (National Common Mobility Card) offline wallet can be used to make ticket payments…
The Government of Madhya Pradesh declared the following days to be a public holiday during the year 2021, under the explanation of section 25 of NI act 1881. Sr.No Date Day Occasion/Festival Date 1 26.01.2021 Tuesday REPUBLIC DAY 2 11.03.2021 Thursday MAHASHIVARATRI 3 29.03.2021 Monday HOLI 4 01.04.2021 Thursday Banks’ Annual Closing of Accounts 5…
The instructions on the opening of current accounts by banks have been reviewed and revised by RBI and the same was notified to all the banks for compliance through their circular dated August 6, 2020. In terms of the above circular, no bank shall open current accounts for customers who have availed credit facilities in…
The Government of Maharashtra declared following days as holidays for the year 2021 under section 25 of NI Act (Negotiable Instrument Act) 1881. Sr.No Date Day Occasion/Festival Date 1 26.01.2021 Tuesday REPUBLIC DAY 2 19.02.2021 Friday CHATRAPATI SHIVAJI MAHARAJ JAYANTI 3 11.03.2021 Thursday MAHASHIVARATRI 4 29.03.2021 Monday HOLI 2nd Day * 01.04.2020 Wednesday Annual closing…
Bank holidays in India are declared as public holidays under explanation to section 25 of the Negotiable Instrument Act 1881. The holiday declared under NI Act is applicable exclusively to the banks located within the administration area of specific State and Union Territory. In other States and Union territories where it is not a holiday,…
On Thursday (11.12.2020) RBI announced that in addition to the five sectors, twenty-six stressed sectors brought under On Tap TLTRO Scheme. On October 21, 2020, Th Reserve Bank of India had announced the five stressed sectors under the ambit of On Tap TLTRO scheme in synergy with the credit guarantee under the Emergency Credit Line…
In the Statement on Development and Regulatory Policies dated December 4, 2020, RBI announced greater flexibility to AD banks in the areas like Direct Dispatch of Shipping Documents, /“Write-off” of unrealized export bills, /Set-off of Export receivables against Import payables/ as well as ‘Refund of Export Proceeds of goods from India’. In terms of RBI…