Key policy rates remain unchanged in the 5th bi-monthly monitory policy statement of RBI
In the fifth bi-monthly monitory policy statement for 2015-16 (01.12.2015), RBI said that on the basis of an assessment of the current and evolving macroeconomic situation, it has been decided to keep policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.75 percent. The cash reserve ratio (CRR) of scheduled banks unchanged at…
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Evidence for physical import of goods into India
(Ex-Bond Bill of Entry/Courier Bill of entry are now considered as evidence of physical import) An importer in India has to submit one of the following records as proof of physical import of goods Exchange Control copy of the Bill of Entry for domestic consumption or Exchange Control copy of the Bill of Entry for warehousing…
Read articlePostponement of issue date of Sovereign Gold Bonds 2015
The first trench of Sovereign Gold Bonds, 2015 was open for subscription with effect from November 05, 2015 to November 20, 2015. The Reserve Bank in its communique dated November 24, 2015, said that it has been decided to shift the issue date from November 26, 2015, to November 30, 2015. The communique states that…
Read articleDate extended for application for Bharat Bill Payment Operating units
RBI extends last date for receipt of applications for authorising Bharat Bill Payment System Operating Units (BBPOUs) upto December 18, 2015 from the earlier November 20, 2015. Bank and non-bank entities engaged in the bill payment activities covered under the current scope of Bharat Bill Payment System (BPPS) either as Bharat Bill Payment Operating Units…
Read articleGovernment announces the issue price of Sovereign Gold Bond (SGB) at Rs.2684/-
Today (November 3, 2015), the Government announced the issue price of Sovereign Gold Bond (SGB) at Rs.2684/- per gram of gold. The SGB bonds are denominated in grams of gold to be issued on November 26, 2015 by RBI on behalf of Government of India.The tranche of SGB will be kept open for investors with…
DA for the Bank employees and officers for November 2015 to January 2016
On the basis of CPI data announced by the Government for the month of July, Aug & Sep 2015, the Dearness Allowance (DA) payable for the period of Nov’15 to Jan’16 for Bank employees and Officers is an increase of 34 DA Slabs. Calculation of DA for the Quarter (July – Sep 2015) CPI for…
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