Do you know the meaning of Fiat money and Seigniorage?
The article explains the growing demand for US Dollars and how the US economy has benefitted from the Seigniorage The unlimited notes and coins issued under the minimum reserve system are called Fiat money. The cost of issuing fiat currencies is paltry compared to their face value. Since the fiat currencies are issued and underwritten…
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Banks are required to maintain an additional CRR of 10% on NDTL growth, the Repo rate remains unchanged
The Monetary Policy Committee (MPC) met on the 8th, 9th, and 10th of August 2023decided unanimously to keep the policy repo rate at 6.50 percent, and other key policy rates also remain unchanged. Under Section 42(1) of the Reserve Bank of India Act, 1934, all Scheduled Banks are required to maintain with the Reserve Bank…
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Difference of title deed and mother deed explained
Title deed: A title deed can be a sale deed, partition deed, gift deed, deed of assignment, deed of relinquishment, etc. Title deeds are used to transfer a person’s ownership rights over land to another person. The documents like agreement for sale, registration receipt, tax receipt, order of allotment, nil encumbrance certificate, insurance policy, or…
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RBI Guidelines on Valuation and Revaluation of Properties
Every Bank has a Board approved policy in place for valuation of properties including collaterals accepted for their exposures. The valuation of properties should be done by professionally qualified independent Valuers i.e., the Valuer should not have a direct or indirect interest on assessed property or in the account. In the case of Valuation Reports…
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Dearness Relief for Bank Pensioners for the half year August 2023 to January 2024
Consumer Price Index for April, May, and June 2023 are respectively- 134.20, 134.70, and 136.40. For Bank pensioners, it works out to 632- slabs of DA for the quarter of August to October 2023. Hence there will be an increase of 44 slabs in DR for the pensioners for the half period August 2023 to…
Dearness Allowance (DA) chart for Bank Staff for the Q August-October 2023
Consumer Price Index for April, May, and June 2023 are respectively- 134.20, 134.70, and 136.40. For Bank employees and officers, it works out to 632 slabs of DA for the quarter of August to October 2023. Hence there will be an increase of 36 slabs in DA for the above period at 44.24% ( For…
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