Updated list of Priority Sectors identified in India and PSL lending targets and sub-targets norms
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. This is 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…
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RBI announces premature redemption of Sovereign Gold Bonds @ ₹7296/-
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…
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Role and supervision of Mutual Funds in the Capital Market
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…
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RBI plans to enhance robustness of AePS, secure framework for digital currency and digital payments
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…
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Dearness Allowance payable to Bank officers for February- April 2024
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…
Dearness Allowance Payable to Bank Clerical Staff for Feb-April 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 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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