Bank Sub-staff DA for the months of November 2022 to January 2023
In terms of clause 7 of the 11th Bipartite Settlement dated 11.11.2020 and clause 3 of the Joint Note dated 11.11.2020, the rate of Dearness Allowance payable to Bank sub-staff for the months of November 2022, December 2022, and January 2022 shall be 38.92% of Basic, Special allowance and transport allowance. While arriving at the…
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Confirmed DA for bank workmen’s special Pay 2022 to Jan 2023
In terms of clause 7 of the 11th Bipartite Settlement dated 11.11.2020 and clause 3 of the Joint Note dated 11.11.2020, the rate of Dearness Allowance payable to Workmen’s special pay for the months of November 2022, December 2022, and January 2022 shall be 38.92% of Basic, Special allowance and transport allowance. While arriving at…
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RBI announces additional MPC meeting on November 3, 2022
The Reserve Bank of India on Thursday said that an additional meeting of its rate-setting panel, the Monetary Policy Committee (MPC) has been scheduled to take place on November 3, 2022. This will be the second off-schedule meeting of the MPC after a surprise meeting in May. “Under the provisions of Section 45ZN of the…
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Explained: Difference between warranty and guarantee
The terms warranty and guarantee are often used interchangeably, but they have subtle differences. The key differences between a Guarantee and a warranty are; The guarantee covers product, service, persons, and consumer satisfaction while the warranty covers products only. A guarantee is a commitment and a warranty is considered the assurance to the customer The…
Read article Now claim received from NCGTC need not be treated as outside liabilities for computation of CRR and SLR.
RBI in its circular dated October 13, 2022, notified that the amounts received by a bank from the National Credit Guarantee Trustee Company Ltd (NCGTC) towards claims in respect of guarantees invoked and held by them pending adjustment of the same towards the relative advances, need not be treated as outside liabilities for the purpose…
Explained: Demand liability and Time liability portions of Saving Banks deposit
The average of the minimum balances maintained (in each account) in each of the months during the half-year period is treated by the bank as the amount representing the “time liability” portion of the savings bank deposits. When the ‘time liability’ amount so arrived is deducted from the average of the actual balances maintained during…
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