FDI in India Clarification

The Indian companies receiving Foreign Direct Invests (FDI) are subject to Regulations framed under FEMA Act 1999. FDI in India can be made through two routes 1.Automatic route where no prioror approval required from authorities. 2.Approval route where the company receiving FDI requires prior approval of the Foreign Investment Promotion Board (FIPB). Pursuant to the…

Bank Officers’ latest salary revision updates

X BPS/ Jt. Notes between IBA and Officers associations: Cost Sheet/ Distribution sheet signed on 20th May 2015 with regard to allocation of Pay slip Component of officers are as follows: Sc-I- 23700-980×7-30560-1145×2-32850-1310×10-45950 Sc-II- 31750-1145×1-32850-1310×12-48570-1460×2-51490 Sc-III- 42020-1310×5-48570-1460×6-57330 Sc-IV- 50030-1460×4-55870-1650×2-59170 plus one stagnation Sc-V- 59170-1650×2-62470-1800×2-66070 Sc-VI- 68680-1960×4-76520 Sc-VII- 76520-2120×4-85000 2. Dearness Allowance (Effective from1.11.2012) Dearness Allowance…

All new Debit and credit cards will be accomplished with EMV chip and PIN based with effect from September1, 2015

All new Debit and credit cards will be accomplished with EMV chip and PIN based with effect from September1, 2015 As a measure of risk mitigation measure, RBI had communicated to all Scheduled Commercial Banks including RRBs/Co-operative Banks / State Co-operative Banks/Central Co-operative Banks/ Authorized Card Payment Networks to accomplice issuance of EMV chip based…