Norms on Reset of floating Rate of interest on EMI based loans
RBI has provided instructions for the reset of the floating interest rate on equated monthly installments (EMI) vide circular bearing reference number DOR.MCS.REC.32/01.01.003/2023-24 dated August 18, 2023. According to these guidelines, Regulated Entities (REs) are permitted to offer various types of loans with either fixed or variable interest rates. However, when granting Equated Monthly Installment…
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Housing finance for construction of building/ready built houses: Updated rules and regulations
RBI on April 3, 2023, issued a Master circular, consolidating the instructions/guidelines issued to banks on the housing finance issued up to March 31, 2023. According to the above instruction, individuals are eligible for housing finance for the construction of building/ready-built houses for the following purposes. In light of the observations of the Delhi High…
Read articleWhat is fixed rate loan and floating rate loan?
Fixed interest rate means interest rates remain the same throughout the life of a loan, while floating interest rates change based on market conditions. A fixed rate loan is a loan where the interest rate on the loan doesn’t fluctuate during the entire term of loan or part of the total term of loan. This…
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Bank Officers DA (dearness allowance) Chart for May ’25 to July ‘25
“No Cheer This Quarter: DA Rate Slashed for Bank Employees”,DA reduced to 1.23% Labour Bureau announces CPI (IW) index numbers for January, February and March 2025 are 143.20, 142.80 and 143 respectively. Average index numbers for the above quarter is =143. Therefore DA payable to Officers, of banks for the quarter is 19.97 % (the…
Read article Bank Clerical Staff DA Chart(Dearness Allowance) for May ’25 to July ‘25
“No Cheer This Quarter: DA Rate Slashed for Bank Employees”,DA reduced to 1.23% Labour Bureau announces CPI (IW) index numbers for January, February and March 2025 are 143.20, 142.80 and 143 respectively. Average index numbers for the above quarter is =143. Therefore DA payable to Officers, of banks for the quarter is 19.97 % (the…
Bank Sub-Staff DA Chart(Dearness Allowance Payable) for May 2025 to July ‘25
“No Cheer This Quarter: DA Rate Slashed for Bank Employees”,DA reduced to 1.23% Labour Bureau announces CPI (IW) index numbers for January, February and March 2025 are 143.20, 142.80 and 143 respectively. Average index numbers for the above quarter is =143. Therefore DA payable to Officers, of banks for the quarter is 19.97 % (the…
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