A money market is said to be in equilibrium if the quantity of money demanded is equal to the quantity of money supplied at a particular rate of interest. A shift in money demand or supply in an economy will lead to a change in the equilibrium interest rate. The money market involves of money…
RBI Master Circular No: RBI/2015-16/59 dated 01.07.2015 mandates banks to implement a Board-approved policy for General Management of Branches on Customer Service in Banks. As a service organization, customer service and customer satisfaction should be the prime concern of any Bank. The Policy for General Management of Branches is a set of regulatory guidelines that…
Amid the growing demand for the rollback of the Old Pension Scheme, the Union Cabinet, on Saturday approved the Unified Pension Scheme (UPS) for central government employees which is expected to impact 23 lakh employees, aimed at providing financial security and stability for government workers post-retirement. The scheme will come into effect on April 1,…
The Credit Information Companies (Regulation) Act, 2005 is an Act to provide for regulation of credit information companies and to facilitate the efficient distribution of credit and for matters connected therewith or incidental thereto. The Reserve Bank of India and the Government of India have enacted the Credit Information Companies Regulations, 2006 (“Regulations”) and the…
Reserve Bank of India updated the Master Circular on priority sector lending on June 21, 2024, incorporating the following updated instructions/guidelines on priority sector lending(PSL)-target and classification. he subject“To address regional disparities in the flow of priority sector credit at the district level, it was decided to rank districts based on per capita credit flow…
The Reserve Bank of India (RBI) has declared the early redemption price for Sovereign Gold Bonds (SGBs) from the SGB 2017-18 Series IX-Issue date of November 27, 2017.The redemption price of SGB shall be based on a simple average closing gold price of 999 purity of the previous three business days from the date of…
A mutual fund is a vehicle to mobilize money from multiple investors and invest the money in various types of securities to give the investors the benefit of growth, wealth creation, stability, regular income, liquidity, or a mix of all. The objective of every mutual fund is clearly defined in the memorandum of the fund…
In the Statement of Development Regulatory Policy announced on Thursday, the Governor of RBI sets out various developmental and regulatory policy measures relating to Payment Systems and Fintech. Aadhaar Enabled Payment System: In 2023, more than 37 crore users undertook Aadhaar Enabled Payment System (AePS) transactions, which points to the important role played by AePS…
Consumer Price Index for October 2023, November 20232, and December 2023 are respectively- 138.40, 139.10, and 138.80. It works out to (62) slabs of additional DR for the quarter from February 2024 to April 2024.Pending amendments to wage revision, Banks may pay the Dearness Allowance payable to bank officers for the period February 2024 to…
Consumer Price Index for October 2023, November 2023, and December 2023 are respectively- 138.40, 139.10, and 138.80. It works out to 63 slabs of additional DR for the quarter from February 2024 to April 2024.Pending amendments to wage revision, Banks may pay the Dearness Relief payable to Bank clerical Staff for the period February 2024…