Salient features of Co-lending Model (CLM) scheme announced by RBI for priority sector lending
The Reserve Bank on Thursday came out with a Co-Lending Model (CLM) scheme under which banks can provide loans along with NBFCs (including HFCs) to priority sector borrowers based on a prior agreement. The arrangement entailed joint contribution of credit at the facility level by both the lenders as also sharing of risks and rewards.…
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RBI notifies revised guidelines for Opening of Current Accounts by Banks
Today (02.11.2020), RBI announced that banks may ensure compliance with the instructions contained in their Circular dated August 6, is extended up to December 15, 2020. In its circular of August 6, RBI said in respect of the opening of current accounts banks shall comply with all the instructions contained therein the circular. For existing…
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Bank Clerical: New Basic, Special allowance, and DA for November 2020 under 11th BPS
As agreed upon by workmen unions and IBA representatives on 31st October 2020 under 11th BPS, the revised DA would be at 0.07% per slab of 4 points over 6352 points for the new fitments. Besides Special Allowance of 16.4% for both clerical and sub staff. Accordingly, we have worked out a revised pay-slip at…
Read article Bank Sub-staff: New Basic, Special allowance, and DA for November 2020 under 11th BPS
As agreed upon by workmen unions and IBA representatives on 31st October 2020 under 11th BPS, the revised DA would be at 0.07% per slab of 4 points over 6352 points for the new fitments. Additionally, Special Allowance of 16.4% for both clerical and sub staff. Accordingly, we have worked out a revised pay-slip at…
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Bank workmen’s revised Pay scales have been finalised: 11th BPS
Today (31st October), the representatives of workmen’s Unions AIBEA, NCBE, NOBW, and INBEF finalized the various pay-slip components in their negotiation with Indian Banks Association. The revised pay-slip of clerical staff worked out as under, Clerical: Rs.17900-1000-1000-1000-1230-1230-1230-1490-1490-1490-1490-1730-1730-1730-1730-1730-1730-1730-3270-1990,=47920. The revised pay-slip of Sub-Staff worked out as under, Sub-Staff: Rs.14500 – 500- 500- 500- 500- 615- 615-…
These eleven things you need to know for acceptance of power of attorney for creation of mortgage or sale of property
Every other day, we have been coming across cases where fraudsters are using Power of Attorney to create mortgages or sale of properties. General Public, Bankers, and other financial lenders are most vulnerable to mortgage-related frauds. Therefore, Staff working in the loan and advance departments of banks and financial departments shall be vigilant at the…
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