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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Operational Guidance on Premature Withdrawal of Fixed Deposits (FDs)
Premature withdrawal refers to the closure of a Fixed Deposit (FD) before its maturity date. While depositors may opt for early withdrawal due to unforeseen financial needs, such actions typically attract a penalty, which is generally a deduction from the interest earned on the deposit. General Penalty Structure Most banks impose a penal interest—usually ranging…
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Revised ATM fee structure and RBI mandate on dispensation of Rs.100 and Rs.200 notes
Revised ATM Fee Structure and RBI Mandate on Dispensation of ₹100 and ₹200 Banknotes ATM Transaction Charges: The Reserve Bank of India (RBI) has introduced a revised framework governing ATM transaction charges, effective from May 1, 2025. This initiative is aimed at enhancing transparency in customer service fees while providing greater operational flexibility to ATM…
Read article Understanding Time Deposits, Operational Instructions, and Interest Payments
A time deposit is a type of bank account that earns interest on the condition that the funds remain deposited for a predetermined period. The term “periodicity” in the context of time deposits refers to the specific duration for which the funds are committed. This term can range from as short as 7 days to…
Read article3 categories of Stamp duties in India
[This article elucidates details of three categories of stamp duties in relation to transaction type, on adjudication, impounding of documents and also refund of unused stamp papers. The idea of Government raising revenue by way of stamp duty from the transactions of its citizen said to be originated in Holland in the early sixteenth century.…
RBI Regulations: Interest paid on various types of deposit accounts
This post elucidates how interest rates offered by banks may vary based on the tenor of deposits, the Periodicity of interest payable on SB accounts, accounts frozen by enforcement authorities, and floating deposits. Additional rate of interest paid by banks in certain cases, interest payable on NRE and FCNR (B) deposits, rules regarding interest payable…
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