Do you know what Contagion effect is?
The dictionary meaning of contagion is the spreading of a particular disease by someone touching another person who is already affected by the disease. Similarly, in financial parlance contagion effect is defined as the spread of an economic crisis from one region to another. The financial markets and their roles include the stock market, the…
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Budget 2024: Key Highlights
In the interim budget 2024, the Finance Minister Mrs.Nirmala Sitharaman today announced the estimates of the government’s expenditure, revenue, fiscal deficit, financial performance, and projections for the upcoming months. Both interim budget and vote on account are interchangeably used. An interim budget contains both the revenue and expenditure details for the period until the new…
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Paytm Payments Bank asked to stop onboarding of new customers with immediate effect
On Wednesday, the Reserve Bank of India directed Paytm Payments Bank to stop onboarding of new customers with immediate effect.The above supervisory action was warranted by the banking regulator given the Comprehensive System Audit report and subsequent compliance validation report of the external auditors that revealed persistent non-compliance and continued material supervisory concerns in the…
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Dearness Relief to Bank Pensioners for February -July 2024
Consumer Price Index for October 2023, November 2023, and December 2023 are respectively- 138.40, 139.10, and 138.80. It works out to 61 slabs of additional DR for the half year February 2024 to July 2024.Pending amendments to Pension Regulations, Banks may pay the Dearness Relief payable to pensioners for the half-year period February 2024 to…
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Dearness Allowance payable to Bank Employees and Bank Officers for Feb-April 2024
Consumer Price Index for October 2023, November 2023, and December 2023 are respectively- 138.40, 139.10, and 138.80. It works out to 63 slabs of additional DR for the quarter from February 2024 to April 2024. So no increase in DA for the serving staff for the ensuing quarter. FOR Pensioners 61 slabs increase in Dearness…
Dearness Allowance payable to Bank officers for February- April 2024
Consumer Price Index for October 2023, November 20232, and December 2023 are respectively- 138.40, 139.10, and 138.80. It works out to (62) slabs of additional DR for the quarter from February 2024 to April 2024.Pending amendments to wage revision, Banks may pay the Dearness Allowance payable to bank officers for the period February 2024 to…
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