Overdraft facility under PMJDY scheme now doubled
Mr. Arun Jaitley Finance Minister of India announced today (September 5, 2018) that the Government of India decided to make Pradhan Mantri Jan Dhan Yojana ( PMJDY) an open-ended scheme, meaning that the scheme will continue indefinitely. The minister said that in view of the above scheme has been “runway success” the Government made it…
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Role of Presenting Officer in respect of Charge sheet/ inquiries
Broadly speaking, in departmental (domestic) inquiries, the Presenting Officer has a duty to perform fact-finding exercises to reach the truth in respect of elements of misconduct, committed by the Charged Official. Though, the departmental enquiry in industrial law is not equated with the proceedings before the courts of law, it has essential condition to the…
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What is Universal Banking?
Universal banking is generally compared to a super market where all types of financial products available within one roof. A universal bank undertakes financial services like commercial banking, investment banking, forex operations, remittances & payment systems, development banking and other financial services including functions of merchant banking, mutual funds, factoring, project finance, housing finance, credit…
How to compare the discount rate of a loan with rate of interest?
We may observe that some banks as well as dealers of automobiles and electronic items offer discounted loans to their customers. Discounted loans are the loans that have the interest payment subtracted from the principal before the loan is disbursed. For example, consider a customer pays Rs.100/- in a year for an item costing Rs.95/-.…
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