List of Holidays for Central Government Offices for the year 2019 Sr.No Date Day Occasion/Festival Date 1 January 26 Saturday REPUBLIC DAY 2 April 17 Wednesday MAHAVEER JAYANTI 3 April 19 Friday GOOD FRIDAY 4 May 18 Saturday BUDDHA PURNIMA 5 June 05 Wednesday RAMZAN (IDUL FITR) 6 August 12 Monday ID-UZ-ZUHA (BAKRID) 7 August…
The Negotiable Instruments (Amendment) Act, 2018 (Amendment) received the assent of the President on 2nd August 2018. Sec 143 A & 148 which have been now inserted in the NI acts is in addition to Section 138 of the NI acts which deals in cheque bounce cases. Equipped with the newly inserted sections to NI…
A negotiable certificate of deposit (NCD) is a certificate of deposit issued by the banks and it is freely negotiable unlike non-negotiable CDs which cannot be transferred, sold, bought, or exchanged. The Certificates of Deposit (CDs) were introduced in India in 1989.Minimum amount of a CD should be Rs.1 lakh. In India, CDs in physical…
December 5, 2018: The Monitory Policy Committee (MPC) of Reserve Bank of India in its fifth Bi-Monthly Statement for 2018-19, announced today(December 5,2018) keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.5 per cent. Consequently, the reverse repo rate under the LAF remains at 6.25 per cent, and the marginal…
The liquidity coverage ratio (LCR) refers to highly liquid assets held by financial institutions to meet short-term obligations. LCR forms on traditional liquidity “coverage ratio” methodologies used internally by banks to assess exposure to contingent liquidity events. The LCR guidelines ensure reduction in funding risk over a 30 days horizon by requiring banks to fund…
11th BPS/Joint Note (Talks held on November 30, 2018) In today’s meeting (30.11.2018), IBA improved their offer to 8%. We(UFBU) replied it is far below our expectation and urged upon them to improve their offer. We also demanded full mandate. These issues will be pursued further. Thereafter UFBU meeting decided to go on strike on…
The interest Equalisation Scheme (IES) for pre and post shipment rupee export credit is being implemented by Directorate (DGFT) through commercial banks.The scheme came into effect from 01.04.2015 and is for a period of 5 years.(The scheme was earlier called as ‘interest subvention scheme’ which was existing for the period from August 2010 to 31.03.2015).…
Foreign exchange Management Act (FEMA) 1999 came into effect in India from June 1, 2000 replacing earlier law FERA 1973. FEMA is a regulatory mechanism that enables the Reserve Bank of India to pass regulations and the Central Government to pass rules relating to foreign exchange in tune with the Foreign Trade policy of India.…
“Sound Management of Operational Risk” is a collection of principles that has been developed over the years by the Basel Committee on Banking Supervision for the purpose of guiding firms in the financial services industry and their regulators to establish sound practices for the management of Operational Risk. These principles cover three main areas: (i)…
Basel Committee on banking supervision has adopted a common industry definition of operational risk. Operational risk is defined as the risk of direct or indirect loss resulting from breakdowns in internal procedures, people, system and external events. Examples of operational risk are frauds, system failure, error in financial transactions, failure to discharge demand of contractual…
