RBI on Friday has increased the without Additional Factor of Authentication (AFA)limit from existing ₹15,000/- to ₹1, 00,000/-per transaction for the following categories: (a) subscription to mutual funds, (b) payment of insurance premiums, and (c) credit card bill payments. e- Mandate is a standard instruction that you provide to your issuing bank and other institutions,…
RBI on Friday in its Statement on Development and Regulatory policies announced that the limit for payments to hospitals and educational institutions from ₹1 lakh to ₹5 lakh per transaction. This will help the consumers to make UPI payments of higher amounts for education and healthcare purposes, said RBI. “Separate instructions will be issued shortly”,…
The India Banks Association (IBA) and United Forum of Bank Unions (UFBU) an umbrella body of 9 Bank unions AIBEA, NCBE, NOBW, BEFI, INBEF (workmen unions) along with, AIBOC, INBOC, AIBOC, and NOBO (Officers Associations) have agreed to a 17% wage hike based on pay slip basis for all the public sector banks including SBI…
These days, Life and health insurance have gained a lot of acceptance. However, the same is not the case with critical illness insurance. Many people think that their regular health insurance is enough to take care of all types of illnesses and they are unaware of critical illness insurance policy. The regular health insurance products…
The IRDAI Migration and Portability guidelines apply to all Retail (Individual) and Group indemnity Health insurance products. Insurance Regulatory and Development Authority of India (IRDAI) via its circular numbers IRDAI/HLT/REG/CIR/002/01/2020 and IRDAI/HLT/REG/CIR/003/01/2020 has issued guidelines on Migration and Portability. The guidelines apply to both Individual-insured and Family floater sum-insured policies. Migration: The insured person may…
The Government of Uttar Pradesh in its order No.528/3-2023-39(2)/2016 Dated 05.12.2023 declared the following days as Bank Holidays for the year 2024 under the explanation of Section 25 of Negotiable Instruments Act 1881. Sr.No Date Day Occasion/Festival Date 1 25.01.2024 Thursday MD.HAZARAT ALI’S BIRTHDAY 2 26.01.2024 Friday REPUBLIC DAY 3 08.03.2024 Friday MAHA SHIVRATRI 4…
A hybrid security is a single financial security that combines two or more different financial instruments. Following the budget 2023, hybrid instruments held for longer than a year are now more tax advantageous than debt funds because they are subject to a 20% tax rate and may even be eligible for an indexation benefit. Contrarily,…
The Government of Assam declared the following holidays for the year 2024 under section 25 of the NI Act 1881. These holidays apply exclusively to the banks located within the State of Assam administration. Sr.No Date Day Occasion/Festival Date 1 15.01.2024 Monday MAGH BIHU and TUSU PUJA 2 23.01.2024 Tuesday NETAJI JAYANTI 3 26.01.2024 Friday…
The government of Arunachal Pradesh in its circular no.GA-10/2015 dated 26.9.2023 declared the calendar of holidays for 2024 under the explanation of section 25 of NI Act 1881 Sr.No Date Day Occasion/Festival Date 1 01.01.2024 Monday NEW YEAR DAY 2 14.01.2024 Sunday MAKARA SANKRANTI 3 26.01.2024 Friday REPUBLIC DAY 4 20.02.2024 Tuesday STATEHOOD DAY 5…
The Administration of Lakshadweep vide order no. F.No.32/02/2018-Genl./4076 dated 10.11.2023 declared Public holidays to be observed throughout UT Lakshadweep during the calendar year 2024. Sr.No Date Day Occasion/Festival Date 1 26.01.2024 Friday REPUBLIC DAY 2 08.03.2024 Friday SHIVRATHRI 3 25.03.2024 Monday HOLI 4 29.03.2024 Friday GOOD FRIDAY 5 01.04.2024* Monday ANNUAL CLOSING OF BANKS’ ACCOUNT…