ASBA-designated bank branches will remain open for public on Sunday to facilitate processing of applications for LIC’s initial public offering
The Reserve Bank of India on Wednesday requested all ASBA designated branches of banks to remain open for the public on May 8, 2022 (Sunday) to facilitate the processing of applications for LIC IPO “The Government of India, in order to facilitate bidding for LIC IPO, has requested that all bank branches designated to process…
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RBI increases cash reserve ratio (CRR) by 50 basis points
RBI Governor Shaktikanta Das on Wednesday announced that the Central Bank has decided to increase the cash reserve ratio (CRR) by 50 basis points to 4.5 per cent of net demand and time liabilities (NDTL), effective from the fortnight beginning May 21, 2022. “ in keeping with the stance of withdrawal of accommodation and in…
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RBI announces changes in Repo rate, SDF and MSF from May 4, 2022
The Monetary Policy Committee (MPC) of RBI in its meeting today decided to increase the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 40 basis points from 4.00 percent to 4.40 percent with immediate effect. Consequently, the standing deposit facility (SDF) rate and marginal standing facility (MSF) rate stand adjusted from 3.75 percent…
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What is ASBA facility?
Application Supported by Blocked Amount (ASBA) is an application made by an investor for the subscription of an Initial Public Offer (IPO) and Follow-on Public Offer (FPO). The form contains an authorization to Self-Certified Syndicate Bank (SCSB) to block funds available in the applicant’s Savings Bank Account or Current Account (other than Overdraft or loan…
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Confirmed Dearness Allowance Chart for Bank Officers and employees for the Quarter May-July 2022
Consumer Price Indexes for Jan, Feb, and March 2022 are respectively- 125.1, 125, and 126. It works out to 472 slabs in DA for the quarter of May to July 2022. Hence there will be an increase of 1 slab in DA from May 2022. DA Rate 33.04%. (Increase of 0.07%) Click here below for…
Dearness Allowance for Bank Officers for the quarter May-July 2022
Consumer Price Indexes for Jan, Feb, and March 2022 are respectively- 125.1, 125, and 126. It works out to 472 slabs in DA for the quarter of May to July 2022. Hence there will be an increase of 1 slab in DA from May 2022. DA Rate 33.04%. (Increase of 0.07%) Basic …
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