The sixth series of the Sovereign Gold Bonds opened on August 30, at Rs.4682
RBI announces the issue of the sixth series of the Sovereign Gold Bonds (SGBs) scheme 2021-22. The subscription for gold bonds opens for the public from August 30, 2021, and will close on September 03. 2021. The issue price per gram of gold is Rs.4,682 for those investors applying online and the payment against the…
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RBI announces enhancements to Indo-Nepal Remittance Facility Scheme
The Indo-Nepal Remittance Facility Scheme was introduced in May 2008 by the Reserve Bank of India, jointly with Nepal Rastra Bank, to provide an avenue to migrant workers of Nepalese origin working in India to remit funds at regular intervals in a safe and cost-efficient manner to their families in Nepal. Reserve Bank on Friday…
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DICGC Act effective from September 1, Stressed bank depositors set to get back funds after 90 days
Updated on 30 August 2021 The Government has notified September 1, 2021, as the date on which the provisions of the Act shall come into force, according to a gazette notification dated August 27, 2021. “In exercise of the powers conferred by sub-section (2) of section 1 of the Deposit Insurance and Credit Guarantee Corporation…
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More incentive to banks for distribution of coins to the general public
RBI advises banks to make sure that each of their branches maintains a minimum stock of one bag of coins in each denomination. RBI has revised the “Currency Distribution & Exchange Scheme (CDES)” for bank branches including currency chests. Under the above scheme, RBI has been providing financial incentives of Rs25 per bag to banks…
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Comparative FP Chart: Revised Family Pension (Bank) payable from April 1, 2021
Ministry of Finance (Department of Financial Services) in its letter dated 25.08.2021 addressed to the Chief Executive of IBA conveyed the revision of family pension. According to the letter, the payment of Family Pension should be at a uniform rate of 30% of the pay of the deceased employee without any ceiling on family pension…
Family Pension of Bank Pensioners enhanced to 30% without ceiling
Finance Minister Nirmala Sitharaman today announced that the Government has cleared the enhancement of Bank family pension to 30 percent without a ceiling. Further, Bank’s contribution to the Pension fund under NPS was enhanced from 10 to 14%. The improvements in family pension to 30 percent of last drawn pay without any ceiling cleared by…
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