In terms of notification No. FEMA 10(R)(2)/2019-RB dated February 27, 2019, the Reserve Bankof India on April 2019 advised all ategory – I Authorised Dealers and Authorised Banks that they may open interest free foreign currency accounts for reinsurance brokers. A According to the notification, re-insurance and composite insurance brokers registered with IRDA may open…
Reserve Bank of India (RBI) in its press release announced that it has learnt merger of Lakshmi Vilas Bank (LVB) and Indiabulls Housing Finance Limited (IBHFL)through media. As per media news above entities have made a merger announcement on April 5, 2019 with approval of their respective Boards. RBI’s disclaimer said that a section of…
Reserve Bank of India (RBI) has today (April 4, 2019)announced its first Bi-Monthly Monetary Policy Rates for 2019-20 in Mumbai. The Monitory Policy Committee (MPC) of Reserve Bank of India On the basis of an assessment of the current and evolving macroeconomic situation at its meeting decided to reduce the policy repo rate under the…
Corporation, Allahabad Bank and Dhana Lkshmi Banks are taken out of Prompt Corrective Action (PCA) Framework. Pursuant to Government of India has infused fresh capital on February 21, 2019 into various banks including Allahabad Bank and Corporation Bank. Allahabad resevied Rs.6896 crre and Corporation Bank had received Rs.9086 crore. The infusion of fresh capital has…
Currently the banks are mandated to extend collateral-free agriculture loans up to Rs.1 lakh. This limit of Rs.1 lakh was fixed in the year 2010.In view of overall inflation and rise in agriculture input cost since 2010, Reserve Bank of India vide its circular RBI/2018-19/118 FIDD.CO.FSD.BC.No.13/05.05.010/2018-19 dated February 7, 2019 advised all the scheduled commercial…
Reserve Bank of India (RBI) has today (Feb 7)announced its sixth Bi-Monthly Monetary Policy Rates for 2018-19 in Mumbai. The Monitory Policy Committee (MPC) of Reserve Bank of India On the basis of an assessment of the current and evolving macroeconomic situation at its meeting decided to reduce the policy repo rate under the liquidity…
The highlights of Finance minister Piyush Goyal presented on Friday 01.02.2019 are as under. * Individual tax payers with income upto Rs. 5 lakh taxable income will get full tax rebate * Even those earning ₹6.5 lakh will not have to pay tax, if they invest in specified savings *The threshold for TDS on…
One more round of Bipartite Discussions was held between workman unions and IBA today at Mumbai. IBA was represented by Mr. Rakesh Sharma, (MD of IDBI Bank), Chairman of the Small Negotiating Committee, Mrs. Reeta Kaul, GM, PNB, Mr. S K Suri, GM, Allahabad Bank, Mr. B Rajkumar, Dy. Chief Executive, IBA, Mr. Sanjay Prakash…
Latest edit: RBI has decided to reduce statutory liquidity ratio, the portion of funds which banks are required to park in treasury bills and other instruments, by 0.25% every quarter beginning January. The calibrated reduction in statutory liquidity ratio (SLR) will continue till it reaches18%. The first reduction of 25 basis points taken effect in…
Here you will find the statewise lists of Public holidays/Bank Holidays declared by diferent states viz.1.Andhra Pradesh, 2.Arunachal Pradesh, 3.Assam, 4.Bihar, 5. Chhattisgarh, 6. Delhi, 7. Goa, 8.Gujarat,9. Haryana,10. Himachal Pradesh, 11.Jammu & Kashmir, 12. Jharkhand, 13.Karnataka, 14.Kerala, 15.Madhya Pradesh, 16. Maharashtra, 17. Manipur, 18. Meghalaya, 19.Mizoram,20. Nagaland, 21. Odisha, 22. Pudhucherry, 23.Punjab, 24. Rajasthan,…