Bank employees and officers are eligible to apply for the sabbatical leave (govt) scheme for women. Permanent female employees/officers with a minimum of 5 years of completed service are eligible for sabbatical leave. Only in exceptional circumstances, permanent female employees / female officers with less than a minimum of 5 years of service can apply.…
RBI today issued a new direction to the card-issuing Authorised Payment System Providers / Participants (Banks and Non-banks) that they shall provide an option to their eligible customers to choose from multiple card networks at the time of issue. “For existing cardholders, this option may be provided at the time of the next renewal,” the…
The term “structural change” refers to the major changes in the relative importance of the main sectors of an economy (agriculture, industry, services, and so on) in the course of economic growth. Structural change has often been defined as a process by which the transfer of economic benefits is evidenced in terms of major changes…
Low per capita real income, high rate of population growth, the cycle of poverty, an agro-based economy, income disparities, slow capital formation, poor infrastructural development, an imperfect market, Lack of skilled manpower, outdated technology, corruption, and a backward society are the basic characteristics of the Indian economy. Per Capita income: India is universally known as…
Before the advent of British colonial rule, India had the ruled by Mughals, Marathas, Local kings, and Nawabs in different parts of India. The economy was largely rural but was independent and self-sustaining. Agriculture was the main source of livelihood for most people in India. Those days agricultural cultivation was mainly for consumption purposes and…
Agriculture was the chief source of livelihood for most people in India, before the advent of British rule. India was also a hub of various kinds of manufacturing activities, particularly well known for its handicraft industries in the fields of cotton and silk textiles metal and precious stone works, etc. Indian products had a worldwide…
NFO is an acronym for New Fund Offer. An Asset Management Company (AMC) may launch a new Mutual Fund scheme offering subscriptions to the public. Such a new mutual fund offer is known as NFO. The AMC issues NFO shares to raise capital for purchasing securities. As per SEBI regulations, a new fund offering can…
Mutual funds are constituted as Trusts and are governed by the Indian Trusts Act, of 1882. The structure of mutual funds in India includes three tiers: sponsors, trustees, and asset management companies (AMCs). Sponsor: The sponsor acts as a promoter, who brings the initial capital for the mutual funds business akin to that of a…
Mutual funds are popular among large sections of retail investors because they offer investors the opportunity to diversify and therefore spread out their risk over several investments. Mutual funds are managed by full-time, professional fund managers who have the expertise, experience, and resources to actively buy, sell, and manage investments. But when we visit any…
In Supersession of earlier BBPS-related guidelines/circulars, RBI on Friday (March 1, 2024) issued the new Directions hereinafter specified. These Directions shall be applicable from April 01, 2024. The provisions of the new Directions shall apply to NPCI Bharat Bill Pay Limited (NBBL) a wholly owned subsidiary of the National Payments Corporation of India); and All…