Health Insurance policy for Bank employees/Officers 2018-19
IBA has advised all banks to renew the Medical Insurance Policy for in-service employees /Officers based on a revised quotation received from UIIC for the period 1.10.2018 to 30.09.2018 Premium payable on Policy for each in-service employees will be as under Premium Amount:Rs.11613 Plus GST:Rs.2090 Total: Rs.13703 Premium payable on Policy for each in-service officers…
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Interest rates on Small Savings Scheme (October -December 2018)
The Finance Ministry in its notification had communicated that the rates of interest on various small savings schemes for the Third quarter of the financial year 2018-19 starting October 1 and ending on December31, 2018. There is an increase of 30 to 40 basis in interest rates on various schemes compared to previous quarter. The…
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What is a Balance of trade?
Balance of trade is just a smaller part of balance of payments. Balance of payments is a statement which summarizes the balance of trade, the balance of services, balance of unilateral transfers, and balance of payment on capital account. The idea behind the balance of payment is to see whether export of goods of a…
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What is Balance of Payments (BOP)?
The term balance of payments (BOP) imply that the balance of all financial exchanges between one country and another country of the rest of the world, made up of the current account (visible and invisible trade) and capital account (capital movement) and financial transfers excluding Central Bank’s reserve. If the inward supply of funds such…
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What is Asian Clearing Union (ACU)?
Asian Clearing Union (ACU) was established in 1975, after at the initiative of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). The central banks and monetary authorities of India, Islamic Republic of Iran, Nepal, Pakistan and Sri Lanka Bangladesh, Myanmar, Bhutan and Maldives are the current participants in the ACU…
NDS-OM: Negotiated Dealing System
The Negotiated Dealing System (NDS) is a facilitator platform for the purchase and sale of Government securities. The members who maintain their Subsidiary General Ledger (SGL) and or Current Account with RBI can participate in the auctions using this platform. Participants are primary dealers, commercial banks, and a few Financial Institutions who are permitted to…
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