The first trench of Sovereign Gold Bonds, 2015 was open for subscription with effect from November 05, 2015 to November 20, 2015. The Reserve Bank in its communique dated November 24, 2015, said that it has been decided to shift the issue date from November 26, 2015, to November 30, 2015. The communique states that…
RBI extends last date for receipt of applications for authorising Bharat Bill Payment System Operating Units (BBPOUs) upto December 18, 2015 from the earlier November 20, 2015. Bank and non-bank entities engaged in the bill payment activities covered under the current scope of Bharat Bill Payment System (BPPS) either as Bharat Bill Payment Operating Units…
Today (November 3, 2015), the Government announced the issue price of Sovereign Gold Bond (SGB) at Rs.2684/- per gram of gold. The SGB bonds are denominated in grams of gold to be issued on November 26, 2015 by RBI on behalf of Government of India.The tranche of SGB will be kept open for investors with…
On the basis of CPI data announced by the Government for the month of July, Aug & Sep 2015, the Dearness Allowance (DA) payable for the period of Nov’15 to Jan’16 for Bank employees and Officers is an increase of 34 DA Slabs. Calculation of DA for the Quarter (July – Sep 2015) CPI for…
In view of providing old age income security to the Non-Resident Indians (NRI), the investment option for NRIs under FEMA, 1999 is now introduced. Under the scheme, notified by RBI on October 29, 2015 the Non-Resident Indians (NRIs) may subscribe to the NPS governed and administered by the Pension Fund Regulatory and Development Authority (PFRDA)…
Benefits of Sovereign Gold Bond (SGB) over physical form of gold Today (October 3, 2015), the Government announced the issue price of Sovereign Gold Bond (SGB) at Rs.2684/- per gram of gold. The SGB bonds are denominated in grams of gold to be issued on November 26, 2015 by RBI on behalf of Government of…
RBI nicks rate by 50 BPS, The policy repo rate under LAF reduced to 6.75 per cent In the fourth bi-monthly monitory policy statement for 2015-16 (29.09.2015), RBI said that on the basis of an assessment of the current and evolving macroeconomic situation, it has been decided to reduce the policy repo rate under the…
RBI on September 16, 2015 granted in-principle approval to 10 entities to set up small finance banks. The in princile approval is valid for 18 months.The entities who got the permission are Ujjivan Financial Service (Bengaluru),Janalakshmi Financial Service ( Bengaluru) Au Financiers (Jaipur), Equitas Holdings (Chennai),Capital Local Area Bank (Punjab), Disha Microfin (Ahmedabad), ESAF Microfinance (Chennai), RGVN (North East)…
The authorized agent who canvasses for sale of Kisan Vikas Patra (KVP) is eligible to receive the commission from the bank to which he/she is attached for the purpose.The agent can register at multiple branches of banks in his/her area of operation for the purpose of canvass and purchase of KVP certificates on behalf of…
In view of 2nd and 4th Saturdays of the month declared as public holidays for banks with effect from September 1, 2015, there is a change in RTGS time window. Hereafter, transactions will not take place on 2nd and 4th Saturdays of the month. Further, the process of future value dated transactions under RTGS which…