Lenders must release property Documents within 30days of loan repayment: RBI
RBI on Wednesday directed all the regulated entities such as Commercial Banks, cooperative banks, small banks, RRBs, Local Area Banks, NBFCs, Asset Reconstruction Companies, etc. to release all the original movable/immovable property documents and remove charges registered with any registry within a period of 30 days after full repayment/ settlement of the loan account. The…
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Sovereign Gold Bond scheme series II opens for subscription on Monday
The Sovereign Gold Bond Scheme 2023-24 – Series II will be open for subscription from September 11–15, 2023. The Subscription of the Gold Bonds under this Scheme shall be open (Monday to Friday) on the dates specified above, provided that the Central Government may, with prior notice, close the Scheme at any time before the…
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Thomas Cook launches India’s first Rupay prepaid forex card
The Worldwide travel agency cum Forex Services Company Thomas Cook (India) Ltd (TCIL) and the National Payments Corporation of India (NPCI) have launched India’s first RuPay prepaid forex card for Indians travelling to the United Arab Emirates (UAE). The omnichannel travel company TCIL is offering a broad spectrum of services including foreign exchange, corporate travel,…
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RBI decides to discontinue incremental CRR cash reserve ratio
The Reserve Bank of India on Friday announced that it will discontinue incremental cash reserve ratio (I-CRR) in a phased manner. The central bank had announced the measure in its August 10 monetary policy meeting wherein scheduled banks were required to maintain an I-CRR of 10 per cent on the increase in their net demand…
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RBI issues operating guidelines to banks for credit line through UPI
RBI on Monday issued operating guidelines for credit lines through UPI. Currently, savings accounts, overdraft accounts, prepaid wallets, and credit cards can be linked to UPI. As per the latest announcement of the central bank, the scope of UPI is now being expanded by the inclusion of credit lines as a funding account. In other…
12th bipartite talks: IBA agrees for DA merger and medical insurance on retirees
Another round of meetings took place on Thursday between UFBU and IBA on wage negotiation under the 12th bipartite settlement. The following issues are discussed and agreed upon. 1. The proposed wage revision will be effective from 1st November, 2022. 2. The proposed Settlement would be for a period of 5 years up to Oct.…
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