Dearness Allowance (DA) for Bank employees and officers for the months of May 2016 to July 2016
On the basis of CPI data announced by the Government for the month of Janaury 2016 to March 2016, the DA payable for Bank employees and officers for the months of May 2016 to July 2016 is reduced by 7 slabs at a rate of 0.10% per slab. The DA for the quarter Febraury 2016…
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Dealing in Priority Sector Lending Certificates (PSLCs)
[This post answers many questions like ‘What is a PSL certificate?’, ‘Who needs PSLCs?’, ‘How the limit for issuance of each category of PSLC is decided?’ ‘How the PSLC transactions are computed for the determination of PSL target/sub-targets?’, ‘Is there any expiry date for PSLCs?’, ‘Whether the loan assets or risks of loan defaults are…
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The Important Points to be borne in mind while in Execution of Loan Documents
(The article gives the insight of important points to be borne in mind at the time of execution of loan documents with a to z check-list.) The system of obtaining proper documents as per sanction terms is called documentation. Without the proper documents, it is hard to create a legally enforceable charge for the security offered.…
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CCIL is now Trade Repository
The Clearing Corporation of India Limited (CCIL) is now designated as ‘Trade Repository’ for the OTC interest rate and Foreign Exchange Contract. The designated trade repository will be regulated and supervised under section 34(2) of the Payment and Settlement Systems Act, 2007 (PSS Act). Being a Financial Market Infrastructure (FMI), the repository would function under…
Read article Pradhan Mantri Fasal Bima Yojana (PMFBY)
The Government of India recently approved the repealing of all earlier schemes under existing National Agricultural Insurance Scheme (NAIS) and Modified National Agricultural Insurance Scheme (MNAIS). A new Insurance scheme called “Pradhan Mantri Fasal Bima Yojana (PMFBY) is put in place which replaces the old schemes from Kharif 2016. For all loanee farmers who borrow…
Interest rate on small savings schemes slashed
In terms of Government announcement on February 2016, the interest rate on small savings schemes will be notified on quarterly basis hereafter, instead of earlier system of announcing for every year. Accordingly the Government h,as announced the interest rates for the following small savings schemes (for the quarter April 2016 to June 2016) wich are…
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