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Paytm Payments Bank asked to stop onboarding of new customers with immediate effect

On Wednesday, the Reserve Bank of India directed Paytm Payments Bank to stop onboarding of new customers with immediate effect.The above supervisory action was warranted by the banking regulator given the Comprehensive System Audit report and subsequent compliance validation report of the external auditors that revealed persistent non-compliance and continued material supervisory concerns in the…

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Dearness Relief to Bank Pensioners for February -July 2024

Consumer Price Index for October 2023, November 2023, and December 2023 are respectively- 138.40, 139.10, and 138.80. It works out to 61 slabs of additional DR for the half year February 2024 to July 2024.Pending amendments to Pension Regulations, Banks may pay the Dearness Relief payable to pensioners for the half-year period February 2024 to…

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Dearness Allowance Payable to Bank Clerical Staff for Feb-April 2024
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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…

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