Govt. announces Issue price of Sovereign Gold Bond series VI
The Reserve Bank of India made the announcement of issuance of the Sovereign Gold Bond Scheme 2019-20 Series on various dates in tranches starting from tranche series V to tranche series X. In the notification dated October 3, 2019 RBI indicated dates the Bond issued to the investor of every tranche. Accordingly, the Bond issue…
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Wage revision talks held between UFBU and IBA
In today’s( October 18, 2019) talks between representatives of UFBU constituents and IBA, UFBU pressed for an immediate decision on the following issues. Demand for Early settlement, Demand for an increase in IBA’s offer, Demand for the merger of special allowance into basic pay, Demand for 5 days week, Demand for improvement in family pension,…
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RBI announces On-tap Authorisation of Payment Systems
In order to benefit from diversification of risk as also to encourage innovation and competition, Reserve Bank on 15th October 2019 announced to offer on-tap authorisation for the following entities: Bharat Bill Payment Operating Unit (BBPOU). Trade Receivables Discounting System (TReDS). White Label ATMs (WLAs). The entities desirous to function / operate / provide platforms…
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Clarity on bank lending to InvITs
Banks are generally permitted to lend to those InvITs where none of the underlying SPVs, which have existing bank loans, is facing ‘financial difficulty’. In view of banks and stakeholders seeking clarification on the provision of credit facilities to Infrastructure Investment Trusts (InvITs), RBI on October 15, 2019, clarified that the banks are permitted to…
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What is Pradhan Mantri Vaya Vandana Yojana (PMVVY)?
Latest edit: May 26, 2020: LIC launches ‘Pradhan Mantri Vaya Vandana Yojana (Modified- 2020) Scheme (for detail read PMVVY modified 2020) with an assured rate of return of 7.40% per annum. The new scheme opens from May 26, 2020, up till March 31, 2023, The ‘Pradhan Mantri Vaya Vandana Yojana ’ has been launched by…
What is Atal Pension Yojana (APY)?
Atal Pension Yojana (APY) was launched on 9th May 2015. The Savings Bank account holder in the age group of 18 to 40 years in any bank or post office is eligible to subscribe at Atal Pension Yojana (APY). The subscriber has to make monthly contributions of the defined amount until he or she is…
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