The Dearness Allowance (DA) payable to bank employees for the quarter **February to April 2026** has been arrived at based on the movement in the **All India Consumer Price Index for Industrial Workers (CPI-IW), General**. For the reference months October 2025, November 2025, and December 2025, the CPI-IW (General) indices stood at 147.70, 148.20, and…
To apply for an Overseas Citizen of India (OCI) card, complete the online application through the official OCI Services portal: https://ociservices.gov.in. Upload all required self-attested documents, along with your photograph and signature. After completing the online process, submit the printed application form, supporting documents, and applicable fees at your local VFS Global center, Indian Mission,…
In the evolving landscape of Indian finance, leasing and hire-purchase remain cornerstone financing mechanisms for asset acquisition, particularly for MSMEs and corporates. Governed by distinct legal frameworks—leasing under the RBI’s NBFC directions and the Factoring Regulation Act (to an extent), and hire-purchase via the Hire-Purchase Act, 1972—these tools offer banks and NBFCs flexible avenues to…
PIO (Person of Indian Origin) and OCI (Overseas Citizenship of India) are special immigration statuses offered by the Government of India to people of Indian descent living abroad, providing them with significant rights and benefits without granting full citizenship. What is PIO? PIO refers to a foreign citizen (excluding those from Pakistan, Bangladesh, or certain…
A Complete Guide to Opening, Features, and Closure Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits provide Non-Resident Indians (NRIs) with a secure and efficient way to invest their foreign earnings in India while protecting both principal and interest from exchange rate fluctuations. Governed by Reserve Bank of India (RBI) guidelines, FCNR(B) deposits also offer tax-free interest…
The Indian government provides extensive facilities and schemes for Micro and Small Enterprises (MSEs) to promote growth, employment, and competitiveness. These initiatives, primarily through the Ministry of Micro, Small and Medium Enterprises (MSME) and RBI, include financial aid, infrastructure support, and regulatory benefits accessible via Udyam registration. Registration Process Udyam Registration offers a simple online…
Modified Interest Subvention Scheme (MISS) for 2025–26 continues the concessional short‑term credit support to farmers through Kisan Credit Cards (KCC) for agriculture and allied activities, with no fundamental change in structure vis‑à‑vis earlier years. It aims to ensure assured, affordable and timely working capital to cultivators while incentivising prompt repayment and supporting the viability of…
The Reserve Bank of India (RBI) notified the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 (Notification No. FEMA 23(R)/2026-RB dated January 13, 2026), superseding the 2015 export regulations and introducing a unified framework for goods and services exports and imports. Effective from October 1, 2026, these principle-based rules aim to…
The Reserve Bank of India (RBI) notified the Reserve Bank – Integrated Ombudsman Scheme (RB-IOS), 2026 on 16 January 2026, replacing the 2021 scheme with the objective of further streamlining customer grievance redressal across RBI-regulated entities. The revised scheme will come into force from 1 July 2026 and reinforces the philosophy of “One Nation, One…
The RBI Priority Sector Lending (PSL) Master Directions, 2025, updated as on January 19, 2026, consolidate and supersede the earlier 2020 guidelines. These Directions apply to Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Local Area Banks (LABs), and Urban Co-operative Banks (UCBs), excluding Salary Earners’ Banks. The revised framework aims to strengthen…
