The rate of interest payable by the banks on unclaimed balance
Till now the rate of interest payable by banks to the depositors/claimants on the unclaimed interest-bearing deposit amount transferred to the DEA Fund has been maintained at the rate of 4% simple interest per annum.RBI vide its circular RBI/2017-2018/191 dated June 07, 2018 communicated to all the banks that the rate of interest payable by…
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RBI eases NPA norms for all MSMEs
RBI extends relief to all MSMEs that was till now only available to GST registered MSMEs having credit facilities up to Rs.25 Crores to repay loan up to 180 days (as against 90 days) without being classified as NPAs. In order to enable other MSMEs for their transition to formalised sector (MSMEs) and also keeping…
Read article Revision of Housing Loan qualifying Limits for Priority Sector Lending
The following post offers you comprehensive details of all aspects of home loans:
Read article RBI revises Priority Sector target and classification
Update :In terms of Reserve Bank’s extant guidelines on lending to priority sector, a target of 40 percent of Adjusted Net Bank Credit (ANBC) or Credit Equivalent amount of Off-Balance Sheet Exposures (OBE), whichever is higher, as on March 31 of the previous year, has been mandated for lending to the priority sector by domestic…
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What is Provisioning Coverage Ratio?
In banking lexicon, provisioning means to set aside or provide some funds to cover up losses if things go wrong and some of their loans turn into bad assets. Provisioning Coverage Ratio (PCR) refers to the prescribed percentage of funds to be set aside by the banks for covering the prospective losses due to bad…
DA Chart for Bank Sub-Staff (August-October 2018)
12 slabs increase in DA for Aug 2018 – Oct 2018 CPI for June 2019 is 291 (6596.68) as per the announcement of Labour Bureau today (31.07.2018). With the above, the average CPI for April, May & June 2018 is 6588. AVG CPI: (6573.85+6596.68+ 6642.33/3=. 19812.86/3=6604.28-4440=2164.28/4=541 slabs @ 0.10%=54.10% So Confirmed Increase in DA Slabs…
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