Revised Premium for Group Medical Insurance for Bank Retirees for the year 2021-22
On Friday (September 17), IBA has advised MDs and CEOs of member banks (party to 11th BPS & 8th Jt.Note) about the premium payable by bank retirees for the Employees Group Medical Insurance Policies for the year 2021-22. “The renewal quotes of premium to be paid arrived at through the REP process and approved thereafter…
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NPCI introduces guidelines for banks to compensate AePS fraud victims
The National Payments Corporation of India (NPCI) has introduced detailed guidelines for banks to redress frauds perpetrated on customers and merchants where a misuse or an error in biometric data or UIDAI seeding on Aadhaar Enabled Payment System (AePS) have led to a loss of funds. The new rules effective from September 1, determines with…
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India and Singapore to link their fast payment Systems ‘UPI-PayNow’
The Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) announce a project to link their respective fast payment systems viz. Unified Payments Interface (UPI) and PayNow. Linkage of these two fast payment systems is a significant milestone in the development of infrastructure for cross-border payments between India and Singapore and closely…
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RBI cautions against frauds in the name of KYC updation
The Reserve Bank of India (RBI) on Monday cautioned individuals against sharing bank account login details, personal information, copies of know-your-customer (KYC) documents, card information, PIN, password, and OTP, etc. with unidentified persons or agencies. The banking regulator further bank advised the general public that such details should not be shared through unverified or unauthorised…
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The deadline for filing IT returns and Audit reports for AY 2021-22 are further extended
CBDT vide Circular No.17/2021 dated 09.09.2021 extended the deadline for filing Income Tax returns till December 31, 2021, given the coronavirus pandemic and persistent technical problems with its website. Earlier in May 2021, the date was extended to September 30, 2021, from the original date end of July 2021 for the same reasons. “On consideration…
UCO bank is now out of PCA framework
Reserve Bank of India on Wednesday has taken public sector lender UCO Bank out of Prompt Corrective Action (PCA) framework (PCA) on improvement in financial and credit profile. “The performance of the UCO Bank, currently under the Prompt Corrective Action Framework (PCAF) of RBI, was reviewed by the Board for Financial Supervision. It was noted…
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