Bank employees’ DA on Special Allowance for May-July 2019
In terms of Consumer Price Index Numbers announced by Labour Bureau of India, the average index numbers for January 2019 to March 2019 works out to 7022.76. It means bank staff will get 34 slabs increase in DA for the ensuing quarter May 2019 to July 2019. In the other words Bank Staff will get…
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What are CASA deposits and Bulk deposits?
CASA stands for Current Account and Savings Account in banking parlance. Besides in India, the term CASA is popularly is used in West Asia and South-east Asia countries. The difference between the average yield of interest obtained from loans and the average rate of interest paid for deposits and other such funds (or the cost…
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Capital gain account in banks: All you need to know
What is capital gains account scheme? Whenever a house property is sold, the owner of the property is liable to pay income tax on capital gain (profit earned) from the transaction. The long-term capital gain on house property arises when the duration between the purchase and sale of a property is more than 24 months…
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What are the advantages in registration of a partnership firm?
Registration of a partnership firm is not compulsory under law. It is left to the partners of the firm to register their firm or not. However,the advantages of registration of a partnership firm are that the registered firm offers an irrefutable legal proof of the existence partnership and the composition of partners, their address,…
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Banking Facility for Senior Citizens and Differently abled Persons
RBI in its circular RBI/2017-18/89 /DBR.No.Leg.BC.96/09.07.005/2017-18 dated November 9, 2017 observed that there are occasions when banks discourage or turn away senior citizens and differently abled persons from availing banking facilities in branches. In this regard, Developmental and Regulatory Policies, released by Reserve Bank of India on October 4, 2017 state that notwithstanding the need…
How to deal with accounts of insolvent person?
When an insolvency petition has been filed in the Court, in respect of a customer of the bank, the bank shall immediately stop paying cheques drawn by the customer irrespective of cheque dated before or after the date of the petition. While dealing with such accounts, bankers need be to extra careful. Any act of…
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