RBI report on Municipal Finances proposes ‘Alternative Sources of Financing’
On Thursday, the Reserve Bank of India (RBI) released the Report on Municipal Finances, which is the first-ever comprehensive analysis of Municipal finances. The rapid growth of urbanisation in India has not been accompanied by a corresponding increase in urban infrastructure, which is reflected in the performance of the urban local bodies, especially MCs, the…
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RBI fixes premature redemption date and price for SGB 2017-18 Series I – Issue date May 12, 2017
The Reserve Bank of India (RBI) announced today the premature redemption date and price for SGB 2017–18 Series I. According to the RBI notification, the second due date of premature redemption under the above tranch of the Sovereign Gold Bond (SGB) Scheme shall be November 11, 2022 (November 12, 2022, being a second Saturday). The…
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Adhaar enabled payments : Revised charges of IPPB and compensation for fraud victims of AePS
The India Post Payments Bank (IPPB) has increased charges for the Aadhaar Enabled Payment System (AePS) service. The revised AePS Issuer transaction charges will be effective from December 1, 2022. “Any resident of India having an Aadhaar number linked to a bank account – referred to as an Aadhaar Enabled Bank Account (AEBA) – can…
Read article MPC meeting today to discuss RBI’s failure to curb inflation
India’s retail inflation surged to a five-month high of 7.4 percent in September, taking down the third straight quarter where the inflation rate remained above the RBI’s tolerance ceiling of 6 percent and it has breached the medium-term target of 4 percent for three years. Today, the central bank is widely expected to take stock…
Read article Revised guidelines for ‘Internet Facility for customers of Regional Rural Bank’
RBI on Tuesday amended its circular dated November 19, 2015, for extending internet banking services with transactional facilities by the Regional Rural Banks (RRBs) to promote and spread digital banking for customers in rural areas. ‘Keeping in view the need to promote the spread of digital banking for customers in rural areas, the eligibility criteria…
Confirmed DA for bank officers and workmen from Nov 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 Bank officers and workmen for the months of November 2022, December 2022, and January 2022 shall be 38.92% of Basic, Special allowance and transport allowance. While arriving…
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